Tala Celebrates Five Years of Advancing Financial Inclusion in Kenya

Tala, the leading consumer lending app in emerging markets, has disbursed loans to over 2.5 million customers globally. This was revealed during the celebrations to mark the company’s five-year anniversary. When Tala (formerly Mkopo Rahisi) launched in Kenya in 2014, it was the first in the world to offer unsecured mobile lending direct to consumers. Since then, Tala has expanded credit access across Kenya by using alternative data to instantly underwrite and disburse credit to people who have been excluded from traditional finance due to lack of credit history or…

KWFT, AAR Insurance and Bliss Healthcare launch affordable health micro-insurance product

Kenya Women Microfinance Bank (KWFT) has partnered with AAR Insurance & Bliss GVS Healthcare to launch a medical micro- insurance cover targeting low and middle income earners in Kenya. The product named KWFT Afyafit is a comprehensive and affordable medical micro-insurance at only Ksh19,800 for a family of six. The product comes with an inpatient limit of Ksh 500,000, outpatient limit of Kshs 75,000, a generous maternity limit of Ksh100,000, dental and optical limit of Ksh10,000 respectively per family. KWFT Afyafit also covers chronic, psychiatric and congenital conditions as well as…

THREE KENYAN STARTUPS WIN FULLY FUNDED TRIP TO THE OSLO INNOVATION WEEK 

Three local startups have been selected for a fully funded trip by ICT Norway to showcase at the Oslo Innovation Week in Norway where they will have an opportunity to get funding that will transform their ideas to full businesses. The three tech enterprises, Arigiene Limited, Gjenge and Escon Leather Creations impressed a panel of judges that included ICT Norway representatives Torgeir Waterhouse and Christopher Hoff during a track event for the Nairobi Innovation Week that is currently ongoing. These startups will be funded by ICT Norway, a public sector organization that links the Norwegian…

StanChart shifts focus to youth as it launched new community investment strategy

Kariuki Ngari, CEO Standard Chartered Bank Kenya. Through its Futuremakers programme, the Bank’s global ambition is to raise USD50 million and build the entrepreneurship capability of 50,000 micro, small businesses Standard Chartered Bank has launched a new community investment approach that focuses more on youth empowerment through education, employability and entrepreneurship opportunities. The new social investment strategy dubbed Futuremakers seeks to build on the community impact and achievements of Seeing is Believing, the Standard Chartered Marathon mantra. “More than 20% of Kenyans are youth, yet the economic opportunities to finding…

Maritime and Shipping PS calls assures Seafarers Union of government protection

Maritime and Shipping Principle Secretary Nancy Karigithu addressingjournalists during the inauguration of board members of Bandari Maritime Academy held at Bandari College in Mombasa County. By  Tobby Otum Maritime and Shipping Principle Secretary Nancy Karigithu said the Seafarers Union of Kenya (SUK) is a validly registered party under the trade unions act. She insisted the government won’t allow the affairs and welfare of the seafarers to be handled casually. “The splinter group under the name of Kenya Seafarers Welfare Association [KSWA] was formed as a result of an election despute,” she pointed out. Karigithu said the government won’t recognize the…

Paul Odera Appointed as The Simbas Head Coach

Odera is currently the Head Coach for Chipu; the Under 20 National Team that recently qualified for the JWRT for the second time. With the close of the regular fifteen a side season, the Kenya Rugby Union (www.KRU.co.ke) would like to announce the appointment of a technical team to manage The Simbas for the upcoming 2019 assignments. Paul Odera comes in as Head Coach. Odera is currently the Head Coach for Chipu – the Under 20 National Team that recently qualified for the JWRT for the second time. First time was…

Kenya National Private Security Worker’s Union issues strike notice

Kenya National Private Security Worker’s Union is a duly registered trade Union under the ministry of labour and social protection with the sole mandate of representing unionizable employees in the private security sector in Kenya. We intend to issue 21 days strike notice to All employers in the private security industry in particular the non- complying ones that have persistently opted to: 1. Underpaying the private security officers. 2. Disregarded overtime payments to the private security officers. 3. Drawn disparity in terms of remuneration between day and night guards. In…

One year more for general in the office

President Uhuru Kenyatta on the advice of the Defence Council has extended the term of service for the Chief of the Defence Forces General Samson Jefwa Mwathethe for one year effective 6th May 2019. According to a statement by KDF spokesperson Bogita Ongeri Monday, the President at the same time also upheld recommendations by the Defence Council, Chaired by Defence Cabinet Secretary Amb Raychelle Omamo various promotions, appointments and postings of the officers of the Kenya Defence Forces. Major General Adan Kanchoro Mulata was promoted to Lieutenant General and appointed Commandant…

3M online jobs to be created in Kenya by 2025

Kenya is expected to have a bigger share of 3 million jobs projected to be created in an online marketplace in Africa by 2025. Boston Consultant Group says this will be aided by government involvement in creating policies that will enhance trust between e-commerce vendors and customers. Online Marketplaces in Kenya has for the past decade given physical stores a run for their money. This has been primarily supported by increased internet access where Kenya boasts of a penetration rate of 89 percent according to Communications Authority data. Boston Consultant Group’s Managing Director Mills…

Uber sets IPO in motion, seeks to ‘ignite opportunity’

Uber has filed documents for its much-anticipated public share offering expected to be the largest in the tech sector in years, and a bellwether for other venture-backed startups eyeing Wall Street listing. The filing with the Securities and Exchange Commission contained no specific pricing or timing for the market debut for Uber, which according to media reports was expected to raise some $10 billion. Uber’s valuation in its latest private investment round was more than $70 billion, but reports said the ride-hailing giant was likely to seek a market value…