The value of stocks on the Nairobi Securities Exchange (NSE) #ticker:NSE dropped to a seven-month low on foreign investors’ sell-off of blue-chip firms amid rising concerns over new coronavirus variant. Market data shows investors’ paper wealth declined Sh89.06 billion in a week through Monday, pushing the market value to levels last seen in mid-April. The […]
MarketForce, a Kenyan B2B retail and financial services distribution startup, has expanded into five additional markets across Africa to grow RejaReja — its retailer ‘super app’ that makes it possible for informal merchants to order and pay for inventory digitally, accept payments for utility bills, and access financing for their businesses. The startup has today […]
Nairobi-based electronic payments firm ViewTech has been authorised by the Central Bank of Kenya (CBK) to facilitate in-person payments through the mobile phone in a market dominated by M-Pesa. ViewTech will offer the payment services under its SasaPay brand taking the battle for mobile payment customers to M-Pesa, Airtel Money and T-Kash by Telkom Kenya. […]
The festive season, wedding events and end-year company performance reviews are always full of gift vouchers, with the beneficiaries redeeming them in supermarkets and select retail shops. Firms usually have to distribute the vouchers across the country to all their benefiting staff, which is a challenge. Redeeming them also poses some setbacks. To redeem the […]
This year the Competition Authority of Kenya (CAK) received 314 consumer rights cases, a 129 percent jump from a similar period last year with the authority attributing the rise to consumers learning about its watchdog role. CAK Director-General Wang’ombe Kariuki discusses a new strategy that has seen the anti-trust body rattling more corporates — from […]
Loss-making Kenya Power #ticker:KPLC plans to connect millions of its customers in rural homes with high-speed Internet as part of a fresh plan to capitalise on burgeoning mobile data usage in the country and grow new revenue streams. This is a step up by the electricity distributor, which has been leasing fibre-optic cables attached to […]
Investors bought only 64 percent of the shares in the deeply discounted initial public offering (IPO) by MTN Uganda, a statement from the company showed late Friday. The telecom sought to raise Sh27.6 billion from the sale of 4.47 billion shares as part of the Uganda government’s push to spur local ownership in the industry. […]
Businesses will soon be able to advertise on the M-Pesa app as Safaricom upgrades the mobile money platform to offer more capabilities beyond payments and cash transfers. The move will open a new revenue line for the telco besides enhancing the attractiveness of the financial service. It will be following other technology firms like Amazon […]
Digital mobile apps and micro-lenders are at the forefront of expanding the Shylock economy. FILE PHOTO | NMG Digital lenders will be required to disclose their full fees and penalties to the competition watchdog every four months as part of efforts to fix the problem of hidden charges. The Competition Authority of Kenya (CAK) said […]
Safaricom has lost Sh332.5 billion in market value at the Nairobi Securities Exchange (NSE) in three months, with its share price falling 18.3 percent from an all-time high of Sh45.25 recorded on August 23. The telco closed trading at Sh36.95 Wednesday when its market capitalisation stood at Sh1.48 trillion, down from the peak of Sh1.81 […]
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