NicoElNino/Shutterstock.com Tom Minney The pandemic has put the emphasis on banks cutting costs and digitisation, with customers handling transactions on their phones and computers instead of queues at crowded bank branches. This puts the emphasis squarely on mobile money, fintech and digital currencies. Banks and fintech companies are jostling for position, sometimes working together, sometime […]
Queuing for mobile money Two of Africa’s biggest startup stories of 2021 involve the billion-dollar valuations accorded to OPay, and Wave. Propelled by Chinese and American venture capital, each rose rapidly to own large shares of the financial services sector in Nigeria and Senegal respectively, primarily because of their sprawling mobile money operations. But Opay […]
A month ago, we were inundated with screaming headlines on Kenya Power in our press. One daily carried these three leaders on consecutive days. “How Kenya Power plunged into Sh120 billion in debt”. “Kenya Power loses Sh18 billion yearly in power theft”. “Costly power deals push cost up by 30 per cent”. Yes, 30 per […]
Safaricom CEO Peter Ndegwa. PHOTO | POOL The Common Market for Eastern and Southern Africa (Comesa) Competition Commission has launched a formal inquiry into the joint venture between Safaricom and its parent firm Vodafone for Ethiopia entry. The regional trading bloc’s competition watchdog said it’s investigation will assess whether the merger of the two telcos […]
Nairobi Securities Exchange trading floor. PHOTO | NMG Firms that have made positive corporate moves in the stock market such as bonus issuances and buyouts like Nairobi Business Ventures (NBV) have also recorded higher gains relative to peers. But investors have punished top firms viewed to struggle under effects of Covid-19, including East Africa Breweries […]
SHENZHEN, China, Sept. 27, 2021 /PRNewswire/ — Huawei launched a financial inclusion solution featuring mobile payment and micro finance at HUAWEI CONNECT 2021. The solution helps financial institutions provide fast and affordable services, bringing the world a step closer to financial inclusion. Huawei will continue working with ecosystem partners and using new ICTs to advance […]
Safaricom Apps Safaricom has launched a service that will see customers set a limit to the amount of airtime and data they want to use over a given set of time. The handy feature, which can be accessed from this link , is basically perfect for people who want to use a specific amount of […]
More than half of stock prices at the Nairobi Securities Exchange (NSE) have yet to return to their pre-Covid-19 levels amid the full recovery of the bourse and economic revival from the pandemic-induced slump. Of the 58 actively traded counters, 31 are trading below their closing price on March 12, 2020, when Kenya announced the […]
Investors on the Nairobi Securities Exchange (NSE) Wednesday lost about Sh54 billion in paper wealth, the biggest single-day decline in four months, hit by a slump in the share price of market driver Safaricom . Data showed that the NSE’s market capitalisation fell by Sh53.8 billion to stand at Sh2.776 trillion Wednesday the largest margin […]
A stockbroker at the Nairobi Securities Exchange trading floor. FILE PHOTO | NMG Foreign investors at the Nairobi Securities Exchange (NSE) recorded net inflows of Sh242.3 million last week, reversing the previous week’s net outflows of Sh208.5 million as they bulked up on Safaricom and large banks’ shares. Their buying activity, combined with higher participation […]
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