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Elon Musk Eyes Liberia for Starlink Expansion

Diana Mutheu
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Elon Musk Eyes Liberia for Starlink Expansion

In a move poised to revolutionize Liberia’s technological landscape, the government of Liberia is considering the introduction of Starlink satellite Internet service, developed by SpaceX.

This follows a recent virtual discussion between President Joseph Nyuma Boakai, Sr. and Elon Musk, the visionary CEO of SpaceX.

During their conversation, both leaders underscored the transformative potential of advanced technology, particularly in enhancing access to critical sectors such as education, healthcare, and economic development in rural areas of Liberia.

Recognizing the potential impact, President Boakai extended an invitation for Musk and his team to visit Liberia, signifying a commitment to ongoing dialogue and potential collaboration.

Concurrently, Liberia is undergoing significant reforms in its telecommunications sector.

“New regulations are being introduced to support fintech companies, aiming to foster innovation and competition in a market historically dominated by a few major players. These reforms are designed to level the playing field, enabling smaller startups to enter and thrive in the mobile and Internet services arena,” reports indicates.

The regulatory shift is expected to empower Liberian entrepreneurs, particularly those developing mobile financial solutions, by providing fair access to essential telecom resources. This marks a pivotal moment in Liberia’s tech evolution, coinciding with Musk’s interest in expanding Starlink across Africa.

Together, these developments promise a dynamic transformation in Liberia’s tech and telecom landscape, paving the way for broader connectivity and innovative services. The potential introduction of Starlink, alongside progressive regulatory changes, heralds a new era of technological advancement and economic opportunity for Liberia.

As of mid-2024, Starlink, SpaceX’s satellite internet service, has actively been expanding its presence across Africa. The service is already live in several African countries, including Nigeria, Kenya, Mozambique, Rwanda, Malawi, Zambia, Benin, and Eswatini. Starlink aims to further extend its reach to additional countries by the end of 2024. Upcoming launches are planned for Gambia, Lesotho, Senegal, Tanzania, Angola, Botswana, Madagascar, and Zimbabwe, among others.

This expansion aligns with Starlink’s goal to provide high-speed, low-latency internet access to underserved regions, particularly in rural areas where traditional broadband services are lacking​.

Building effective Startups: The Role of Culture

Cynthia Moses
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Building effective Startups: The Role of Culture

The culture of an organization, the way that things are done, will develop whether there’s intention or not. By defining what it should be, you can influence the behavior. If you don’t define it, it’ll develop organically and you might not like the results. 

Josh Sephton, Via LinkedIn.

Culture is “the way we do things around here.” When you join a new team, you will quickly be humbled. Everybody knows everybody, everyone has a circle – or not. They know the bosses’ good and bad times -read, when to ask for favors and when not to. There’s clearly a formula on how business runs, and everybody knows it, except you. The newbie. Always saying hi to those that prefer quiet mornings, inviting to lunch the project manager that eats sandwiches at his desk, or running every step of your project by your supervisor who really prefers to just oversee and give feedback. Or, the opposite- when you meet the micromanager. Most times, teams have held on to their beliefs, rituals and behaviors for far too long, and will immediately sideline anyone who dares question “the way of doing things.”

All these things, added together, really define how teams work. And, ultimately, decide whether a team will build something great, or will jeopardize the productivity of an organization. In this article, we’ll explore the profound impact of startup culture on team dynamics and why getting it right can be the difference between success and failure.

So what then, is Culture, and Why is it so Important?

Culture isn’t just about Ping-Pong tables, free snacks and beer Fridays; it’s the underlying DNA that shapes how a team works together, innovates, and ultimately thrives. A strong culture provides a shared sense of purpose and identity, aligns team members around common goals, and fosters trust, collaboration, and resilience.

With the right culture within an organization, team members feel aligned, valued and empowered to put their best foot forward. This ultimately manifests into productivity, as there is a common and shared sense of purpose. No one is sidelined, there is no deadweight on the team, or walking on eggshells when it’s time to put a point across. And, it’s not just about productivity.

When you think of startups, the thought of challenges and tough days surely must cross your mind. The beauty of a strong and positive culture is that it carries a startup –and really any organization, through the dark days. When the product launch is a flop, or the expected funding didn’t pan out. Delayed salaries and the dreaded PR disasters that are a daily dose for most startups. A trusting, aligned, resilient and optimistic team- all *aspects* cultivated by a positive organizational culture will more often than not be willing and able to endure the tough times without backing out, cutting corners or sabotaging the organization.

Conversely, a toxic or dysfunctional culture can erode morale, hinder productivity, and drive talented team members away, ultimately spelling doom for the startup.

Cultivating a Positive Startup Culture:

Building a positive startup culture requires intentional effort and a commitment from leadership to prioritize values, behaviors, and norms that support the company’s mission and vision. Elements that define a positive culture are many. Today we discuss 3 key elements of a positive startup culture, and how Core values are the foundation on which a culture is built.

1. Aligning with the core values of your organization.

Core values are the foundation on which a culture is built. By definition, core values are “ideals you believe that determine your behavior and decisions.” They do not change with every turn or dynamics of the economy, society or organizational disruption. The point of values and mission in an organization is to define a pathway and create a guide for the team to follow in the process of executing the set goals.

When hiring, it is important to look out for people who align with your core values. If, for instance, your core value as a startup is boldness, it is crucial to be on the lookout for hires that share this core value. This means people who are not afraid of leaping on new ideas, even without full knowledge. People who don’t wait for conditions to align to act. People that are ready to try, fail and then try again.

When your core value is perseverance, team members that don’t back out when the going gets tough, that stay objective as opposed to emotional or panicked in less than favorable circumstances, are your best bet. As a startup, it is crucial to realize that a hire can have the right skills and be the best on the job, but when their core values are misaligned with yours, any attempt to “be on the same page” or “share a culture” will be futile.

Every organization explicitly outlines their mission, vision and values on their websites and walls, but it is just that- words. They do not integrate their values into their daily operations- hiring, crisis management, milestone conversations.

Deciding what values will help you achieve your goals, then integrating them in your day to day running will set a good foundation for a positive culture, even for people that join in later on, or through the dynamics that are bound to happen.

2. Empowerment and Ownership.

An empowered team isn’t just an asset; they’re the heart and soul of a productive workforce. When individuals feel empowered to take ownership of their work, supported to innovate, and encouraged to voice their ideas, they not only thrive personally, they also become catalysts for positive change and contribute to a vibrant and collaborative environment where creativity, productivity and success becomes a collective journey. And that is exactly what the goal of a positive culture should be – To be on a collective journey.

Autonomy is one of the guaranteed ways to empower a team. The degree to which a team or individual has freedom to make their own decisions and take actions independently, without excessive external control or micromanagement is consistent with the level of responsibility and ownership they have towards their work. Autonomy can manifest in various forms, such as setting their own schedules, choosing how to approach tasks, making decisions about resource allocation, and having input into strategic planning and goal-setting –as long as the goal is met.  When individuals have a sense of control over their work and are trusted to make decisions, they tend to feel more invested in their jobs and more motivated to perform at their best.

Empowering employees, however, goes beyond simply granting them autonomy; it is about unleashing their full potential to drive innovation, creativity, and productivity.

Implementing your team’s good ideas and giving them credit for it, ensuring employee satisfaction and engagement in brainstorming sessions, promoting and supporting their personal growth and development can create a culture where individuals thrive and contribute to the collective success of the company.

3. Diversity and Inclusion.

If you are a startup founder, I hate to break it to you, diversity and inclusion are not just buzzwords that corporates use to sound fancy. They are fundamental principles that drive innovation, creativity, and ultimately, the success of the company. When you talk of a positive organizational culture, diversity and inclusion must be among your to-do.

Diversity by definition is “the presence of a variety of different demographic and cultural characteristics within a group.” Most startup founders will be tempted to include their sister, a cousin, someone that looks like them, or with similar characters in the team. When it’s one or two, that might be okay. But at the very beginning stages of a startup, pulling all or most of your team members from your closest circle is as close to sabotage as you can get. Not only are boundaries shaky and blurred, but whenever a new team member from outside your circle or different from the team joins, they immediately are the outsider.

Diversity includes both visible differences, such as physical appearance, as well as invisible differences, such as cognitive styles, personality traits, and life experiences.

Embracing diversity means recognizing and valuing the unique perspectives, experiences, and contributions that individuals from diverse backgrounds bring to the table. It involves creating an environment where people feel respected, included, and empowered to be their authentic selves, regardless of their differences.

 Inclusion on the other hand, means appreciating and empowering all team members to achieve the set goals, regardless of their differences in identity and background. This means actively having inclusive practices like training and education, implementation of ideas from different team members and equity in terms of pay.

Basically, diversity and inclusion are about creating environments where individuals from all backgrounds feel welcomed, respected, and valued, and where their unique perspectives and contributions are recognized and celebrated.

5 African Women Founders: Trailblazers in a Woman’s World

Cynthia Moses
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5 African Women Founders: Trailblazers in a Woman’s World

In the pulsating heart of the Fourth Industrial Revolution, where innovation meets opportunity, Africa stands at the forefront of technological advancement. And in the midst of all the exciting changes happening, although not talked about as much, women have fast risen to the call of technology and become bold trailblazers who have broken through barriers, challenged norms, and transformed the tech scene in Africa.

From coding geniuses to visionary entrepreneurs, these pioneers have not only harnessed the power of technology to change lives but have also become beacons of inspiration and hope for generations of women and young girls to come.

In this article, we honor the stories of 5 remarkable African women whose indomitable spirit, ingenuity, and vision have not only transformed the tech industry but have also left an indelible mark on the very essence of African innovation.

Naadiya Moosajee

Founder of Women in Engineering (WomEng), an organization dedicated to nurturing the talents of girls and women in engineering and technology, Moosajee is best known for her commitment to gender parity, spearheading a transformative movement to bridge the gender gap.

 In 2014, Forbes recognized her as one of Africa’s Top 20 Young Power Women in Africa, while the Government of China honored her at the BRICS Summit for her outstanding contributions to STEM education for African girls. Passionate about fostering STEM education and gender equality, Moosajee is committed to shaping prosperous and equitable societies in emerging economies.

Alongside Hema Vallabh, she co-founded WomHub, further expanding their impact on the industry.

According to Moosajee, “Engineers design our world and our society, and if we don’t have women at the design table, we exclude 50% of the population.”  

Betelhem Dessie

“As a young woman, coding made me feel independent and free, and that’s something I want to give other people.”

At the age of 7, Dessie fell in love with computers. And by the tender age of 20, this visionary Ethiopian technologist had six software programs patented in her name, and was involved in the development of the world-famous Sophia the robot. Dessie founded iCog-Anyone Can Code at the age of 24, an Ethiopian-based social enterprise that offers kids and youth an opportunity at a future through coding.

Through iCog, the futures of over 30,000 youths have been positively impacted, making them more employable and skilled for entrepreneurship.

Maya Horgan Famodu

Maya believes that if you want to support women, you put them in positions to do it themselves. And she lives by her words, having founded Ingressive capital and Ingressive for Good, one a venture capital that supports early-stage African tech startups, and the other a nonprofit providing micro-scholarships, technical skills training and talent placement to African tech talents in need, respectively.

Being the youngest Black woman to launch a tech fund, Maya Horgan has been honored by Forbes before in their “Under 30 Technology” list, in 2018.

Mary Mwangi

Mary Mwangi knows too well that being a pioneer, and especially in the tech space, is no bed of roses.

Founder and CEO of Data Integrated, this Kenyan powerhouse is a pioneer in the fintech logistics space in Africa, with her company leveraging on tech to offer financial solutions to African SMEs, with a greater focus on Kenya’s public transport system.

Being a pioneer, the challenges are there, she admits, but insists that “You can do it. You have to get up.” 

Charity Wanjiku

Charity Wanjiku describes herself as a shining star and a work-in-progress all at the same time. And a shining star she is indeed, having made patented solar panels and powered the most rural parts of Kenya before solar tiles were a thing. Recognized by both Forbes and the World Economic Forum as a top woman in tech globally, Charity is the founder Strauss Energy Ltd, an off-grid solar energy startup based in Nairobi, Kenya. She lights up the lives of Kenyans in rural areas – Literally.

The uniqueness of Strauss’ solar systems lies in their special meters that can feed unused electricity back to the national grid, generating income for households. 

She is passionate about breaking STEM barriers for women and girls, as in her words, “It’s important that girls are at the forefront of this digital age, because nobody will hire you if you do not have tech skills.”  

Strategic Survival: Unveiling the Path for African Startups Amidst Funding Challenges in 2024

Cynthia Moses
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Strategic Survival: Unveiling the Path for African Startups Amidst Funding Challenges in 2024

African startup funding has seen a significant fall from the highs of 2021 and 2022, with investments in the startup scene in Africa dropping by around 27% in 2023

Disrupt Africa’s African Tech Startups Funding Report.

Would you start a startup if there was no funding for it? African startup funding has seen a significant fall from the highs of 2021 and 2022, with investments in the startup scene in Africa in terms of funding dropping by around 27% in 2023, according to Disrupt Africa’s African Tech Startups Funding Report. The number of investors during this time, according to the same report fell by half.

Does this inform the direction that startups might take in the future, or is it an indicator that starting a startup might not be a worthy cause in 2024? In the recent live podcast hosted by Founders Factory Africa on the good and bad of funding, experts in the startup ecosystem in Nairobi came together to discuss the importance of choosing the right capital in 2024, and how to navigate the tight belt fastened by investors.

In the panel for the live podcast episode were Rology CFO Jason Musyoka; Bruce Nsereko-Lule, co-founder and general partner at Seedstars; and June Odongo, founder and CEO of Senga Technologies.

One thing from the conversation was clear; in the fight for a win, and with the current lack of sufficient funding, startup founders might feel the need to scramble for every funding opportunity that presents itself, in the process hurting their business and perhaps themselves. Therefore despite these funding challenges, the panelists unanimously agreed that it’s still critical for startups to be reasonable and careful in choosing the investors they approach for funding.

So, what are these critical play points to be addressed in the race for funding, and how to understand good and bad funding?

Shifting investor expectations

In the best way to approach investors in these tight times, the panelists highlighted that times have changed in the ecosystem, and investors are now prioritizing fundamentals and sustainability over pure potential, advising that founders should be aware of investors’ shifting priorities and adapt their fundraising strategies accordingly. This requires founders to have a clear roadmap with achievable milestones (pilot, funding rounds) and contingency plans.

“As investors, we’re looking for a plan but you also need to model in variation,” says Nsero- Luke. “Aim to go with the plan but let’s model it if we need to spend a little bit more, for example.”

Additionally, investors are emphasizing due diligence and seeking ventures with strong fundamentals and realistic growth plans, moving away from solely chasing high-growth potential. That makes it important that they do everything they can to impress in the due diligence process.

“From an investor perspective, it’s important that you do your due diligence very well whilst you’re investing in a company so that, when you’re putting in the money, you don’t get unexpected surprises,” he adds.

Choosing the right investor

Even within this shifting environment, the panelists agree that it’s still important for startup founders to be discerning in the investors they approach for funding. More particularly, they say, founders must consider whether choosing local investors makes more sense than international ones. While international investors might have deeper pockets, local investors often have a greater contextual understanding of local environments and may therefore be better positioned to guide founders to success.

“The beauty about local investors is that we understand context,” says Musyoka. “And not just context but we also have networks. There are doors that the senior-level executives and CEOs that they introduce you to can open for you or businesses that they can enable for you that they can enable for that you wouldn’t be able to open for yourself.”

Another strategic considerations when choosing which investors to approach is your business goals. Founders should define their business goals (lifestyle vs. scaling) and align their investment strategy accordingly, potentially utilizing local angel investors and then seeking international capital for further growth.

Even with these considerations in mind, it’s still important that founders pay attention to the investment offers in front of them. “If you’ve got two competing term sheets in front of you, always go for the one that offers the least dilution,” says Musyoka, who has a unique perspective as an investor turned operator. “It gives you flexibility and allows you to operate in your known business framework.”  That may mean accepting a smaller investment but, Musyoka believes that this isn’t always a bad thing.

“A small amount is not necessarily bad for you,” he says. “You just have to recalibrate and work with what you have.”

According to Odongo, getting to the right investor also means knowing when to pause, when to move and when to stop, as Senga has had to do a couple of times over the past few years.

“At one point, we were going to raise money when we had validated our idea and it was growing well. Then we got a lot of competition that was emulating some of what we were doing and they were raising tones of money, so I decided not to raise because it was clear to me that things were not going to turn out well. So we retreated and pivoted to a new niche.”

Planning for an exit (or not)

In the long run, more and more startups taking this approach may also change how we think about exits on the continent.

“Exit opportunities exist in Africa,” says Nsereko-Lule. “We have local exchanges, we have big corporations, etc. The effective exit opportunities exist here, but the types of companies that local players want to buy are very different to the ones internationals want to buy.”

“As we contextualize venture capital to the local market, it will help,” he adds. “Then we can build businesses where founders have the necessary skill sets and build businesses capable of achieving exits on the continent.”

In conclusion, depending on how a founder goes about it, funding can be one of two; a blessing or a bad thing for a startup.  Even with the funding drought that the African startup system is facing, it is important for a startup to be wisely selective with choosing the right investor, lest they risk losing their soul and business in the fight.

Jiji Launches Classified Ads Marketplace in Bangladesh

James Musoba
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Jiji Launches Classified Ads Marketplace in Bangladesh

Jiji, the general classifieds ads marketplace operating in Africa, has launched its online classified ads-based marketplace in Bangladesh, in a move to expand its operations across Asia and outside of Africa.

With over 12 million monthly active users in Africa, and around 200,000 business sellers on the site, Jiji aims to replicate its African success in Asia, after years operating in Africa where its a dominant player after acquiring Tonaton, OLX and Cars45.

According to Jiji Cofounder and CEO Anton Volianskyi, “With its dynamic economy, a significantly untapped e-commerce market amid rapidly growing digital adoption, and an expanding middle class, Bangladesh represents a tremendous long-term growth opportunity. We have a plan to explore further and potentially expand into two or three additional Asian markets over the next 1-2 years.”

Volianskyi said Jiji has thoroughly analysed the Bangladesh market and sees a significant growth opportunity even amidst competition.

Headquartered in Warsaw, Jiji employs over 1,000 people and has offices in Lagos, Nairobi, Accra, Warsaw, Dubai, and Kyiv. The company aims to replicate its African success in Bangladesh, a rapidly growing market with a dynamic economy, increasing digital adoption, and a burgeoning middle class.

Jiji does not own inventory or manage logistics but instead connects sellers with price-sensitive buyers through its classified ads platform. The company is poised to invest millions of dollars into Bangladesh’s e-commerce market, aiming to capture significant market share and establish leadership in the classified ads segment.

“We see Bangladesh as a tremendous long-term growth opportunity with similarities to the markets we’ve successfully entered in Africa,” said Jiji Co-founder and CEO Anton Volianskyi. “We aim to offer a safe, convenient, and reliable marketplace for buying and selling goods and services.”

Jiji’s international expansion strategy includes further penetration into two or three additional Asian markets over the next 1-2 years. Despite existing competition in Bangladesh, including platforms like Bikroy, Bproperty, and ekhanei, Volianskyi believes Jiji’s unique classified marketplace model presents significant untapped potential.

In Africa, Jiji leads the market with over 7 million active ads across various categories such as vehicles and property. With 70% of Bangladesh’s population still untapped, the local e-commerce market is expected to grow to over $12 billion by 2029, driven by a young, tech-savvy population and rapid digital adoption.

Egypt’s InfiniLink Raises $10M Led by MediaTek For AI-driven Data Centers

Ronald Bwire
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Egypt’s InfiniLink Raises $10M Led by MediaTek For AI-driven Data Centers

InfiniLink, a semiconductor startup specializing in advanced optical data connectivity chips for AI-driven data centers, has raised $10M funding round to provide ultra-high-speed, energy-efficient data connectivity essential for the next generation of AI-driven data centers.

This seed-stage investment was joined by MediaTek and Sukna Ventures, based in Riyadh, Saudi Arabia, with participation from the Egyptian VC firm Egypt Ventures and angel investor M Empire Angels.

“Collaborating with MediaTek will be instrumental in advancing our vision for cutting-edge optical connectivity solutions,” said Ahmed Aboul-Ella, Co-founder and CEO of InfiniLink. “With this strategic partnership, we look forward to accelerating the commercialization of our innovative technologies. We believe it will make a significant impact on data center optical connectivity.” added Aboul-Ella.

Launched in 2022, InfiniLink developed groundbreaking Silicon Photonics integrated optical transceiver chiplets (iOTC) technology which enables low-power pluggable transceiver modules and high-bandwidth-density co-packaged optical engines (CPO).

The funding will enable the company to advance its mission of transforming data center connectivity leveraging its deep expertise in Analog Mixed-Signal and Photonics. As AI workloads and data-intensive applications drive an exponential rise in bandwidth demands, traditional electrical and optical interconnects are hitting power and scalability limits.

“We are thrilled to be part of InfiniLink’s journey. Over the past three years, our partnership has been very successful, culminating in the establishment of MediaTek Egypt. We look forward to further scaling our collaboration in the region with this investment.” said George Chien, Senior General Manager, MediaTek.

InfiniLink’s iOTC technology addresses these challenges hese solutions provide ultra-high-speed, energy-efficient data connectivity essential for the next generation of AI-driven data centers. InfiniLink’s groundbreaking optical connectivity technology, engineered by an exceptionally skilled team, addresses AI’s relentless energy demands in data centers.

“This innovation perfectly aligns with our mandate to empower high-potential startups from the MENA region, and we are committed to supporting their international scaling efforts.” said Waleed Alballaa, General Partner at Sukna Ventures.

 Alitheia Capital and Goodwell Investments exit Baobab Nigeria

James Musoba
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 Alitheia Capital and Goodwell Investments exit Baobab Nigeria

 Alitheia Capital and Goodwell Investments have exited Baobab Nigeria, a financial institution providing inclusive banking services to individuals and MSMEs in underserved areas.

Alitheia and Goodwell via their joint fund which was known as GWAMDC fund and later uMunthu, have exited the investment after more than 12 years of investing in Baobab Nigeria which was operating only in Kaduna state to 16 states in Nigeria. This exit marks a new phase for Baobab Nigeria, which will now be fully owned by the international Baobab Group.

Baobab Nigeria has grown from serving 19,000 customers through a regional network of five branches to serving 230,000 customers through a national network of 38 branches. Significantly, this was achieved by continuing to serve Baobab’s original, inclusive customer base, with average loan and deposit sizes remaining consistently small throughout the period of impressive growth.  

“This was a bank that was operating out of a single room in northern Nigeria when we invested, and today it is top-three nationally licensed microfinance bank. We’ve walked a journey of leadership, governance, and financial and impactful growth, scaling from small beginnings through to the top-tier national microfinance bank that it is today. We’re proud of what’s been achieved together, and look forward to seeing where the future will take Baobab Nigeria,” shared Alitheia Managing Partner Tokunboh Ishmael.

Then trading as MicroCred in 2012, Alitheia and Goodwell’s investment invested into Baobab and led a further investment through the uMunthu Fund in 2015.

Alitheia and Goodwell were the first local, on-the-ground investors in Baobab. Since that first investment, Alitheia and Goodwell have poured hands-on, proactive expertise into Baobab. uMunthu supported the bank’s professionalisation, enabling improved governance at board and management level, driving its growth from a unit microfinance institution (MFI) to a top national MFI. It also advised on financial structuring, and provided access to local networks and a deep understanding of the local business environment leading to its expansion in Nigeria.

Since the initial investment in 2012, Baobab has reached 12 times more customers through 7.6 times more bank branches, with the support of 3.2 times more staff.

The Alitheia and Goodwell teams are continuing this pragmatic, locally led, hands-on approach with the rest of the uMunthu portfolio, and are optimistic about the potential for additional exits in 2025. uMunthu II Fund is entering its final fundraising phase; it is actively seeking investors who want to be involved in the kind of success and impact Baobab Nigeria has demonstrated.

Djamo Raises $17M to Address Financial Inclusion in Francophone Africa

James Musoba
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Djamo Raises $17M to Address Financial Inclusion in Francophone Africa

Djamo, a rising digital banking platform that has quickly become a key player in Francophone West Africa, has raised $17 million in a significant round of funding aimed at expanding its offerings and reaching more underserved populations. This round, which was led by Janngo Capital, is the largest venture capital investment ever secured by an Ivorian startup, surpassing Djamo’s previous $14 million Series A round in 2022. The funding marks a milestone for the company, underscoring its rapid growth and ambitions to revolutionize banking in the region.

Founded in 2020 by Hassan Bourgi and Régis Bamba, Djamo’s mission is to address the significant financial inclusion gap in French-speaking African countries. Traditional banking services have long been scarce or difficult to access in these regions, leaving millions without proper banking infrastructure. Djamo aims to bridge this gap by offering accessible digital banking solutions that combine the ease of mobile money with the sophistication of traditional banking features.

The company currently serves over 1 million active users across Côte d’Ivoire and Senegal, two of the largest markets in the Francophone West African region. With this new capital injection, Djamo plans to expand its footprint, increase its user base, and broaden the scope of services available to its customers. As part of its growth strategy, Djamo will focus on increasing its customer base and offering new features such as lending services and interest-bearing savings accounts, as it works to secure the necessary regulatory licenses in the region.

Focus on Financial Inclusion

One of Djamo’s key differentiators is its commitment to serving the unbanked population. In fact, over 55% of Djamo’s users had no prior access to traditional banking services. The platform has rapidly gained traction, with a remarkable 90% of its users reporting that Djamo is now their primary financial service provider. This shift represents a significant transformation in how people in West Africa engage with their finances.

The company’s offerings include a range of innovative financial tools, such as savings features, investment products, and salary-linked accounts designed to serve both individual users and small businesses. Djamo’s seamless integration with mobile phones makes it particularly well-suited for the region’s tech-savvy, yet underbanked population. The platform’s simple and intuitive user interface has allowed it to gain trust among people who previously lacked access to banking services, making it a critical tool for financial inclusion.

Djamo has also made strides in empowering women financially. Approximately one-third of the platform’s users are women, reflecting its efforts to close the gender gap in financial access. This aligns with broader regional initiatives to empower women economically and ensure they have the resources to build financial security for themselves and their families.

Ambitious Plans for the Future

The new $17 million funding will allow Djamo to accelerate its expansion plans, not only by scaling its platform but also by enhancing the customer experience. The company is set to roll out new products and services to better meet the needs of its rapidly growing user base. This includes launching products such as micro-lending facilities for individuals and small businesses, as well as offering more competitive and diversified savings options.

“We are incredibly excited to lead this investment round in Djamo,” said Fatoumata Bâ, founder and executive chair of Janngo Capital. “Djamo is truly leading the charge in transforming financial access in Francophone Africa, particularly in terms of its inclusive approach and its focus on gender equality. The company has the potential to not only drive financial inclusion but also contribute to broader economic development across the region.”

The impact of Djamo’s work extends beyond just providing banking services. As one of the few platforms in the region offering comprehensive digital banking solutions, Djamo plays a key role in the digital transformation of financial services in West Africa. By providing a secure, accessible, and affordable alternative to traditional banking, Djamo is helping drive economic growth and provide much-needed financial empowerment for millions of people who have historically been excluded from the financial system.

A New Era for Digital Banking in West Africa

Djamo’s growth is part of a broader trend of increasing investment in fintech companies across Africa. With more than 60% of the population in Sub-Saharan Africa lacking access to formal banking services, digital banking platforms like Djamo are playing a critical role in shaping the future of finance on the continent. As the region becomes more interconnected through mobile technology, companies like Djamo are well-positioned to lead the way in providing inclusive, scalable, and innovative financial solutions.

The success of Djamo reflects a significant shift in how banks and financial services operate in Francophone Africa. It also highlights the tremendous opportunities that exist in markets where traditional banking infrastructure is limited or nonexistent. By leveraging technology, Djamo is not only making banking services accessible to millions but also providing an essential lifeline for businesses and entrepreneurs in the region, many of whom have previously struggled to access financial services.

Conclusion

With its new $17 million funding round and a clear vision for expansion, Djamo is poised to continue its rapid growth across Francophone West Africa. The company’s dedication to financial inclusion, its focus on gender equality, and its innovative approach to digital banking are helping to transform the financial landscape in one of the world’s most dynamic and underserved regions. As Djamo expands its product suite and strengthens its platform, it will undoubtedly play a key role in shaping the future of banking in West Africa, improving the financial prospects of millions, and contributing to the economic development of the region.

By making banking services more accessible, Djamo is not just changing the way people manage their finances but also creating a more equitable and inclusive financial ecosystem for all. The future looks bright for Djamo, and with the backing of key investors, it is on track to become a leader in the African fintech space.

NCBA & AGF Bolster SME Financing with KES 3 Billion Guarantee Extension

Sam Wakoba
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NCBA & AGF Bolster SME Financing with KES 3 Billion Guarantee Extension

NCBA Bank and African Guarantee Fund (AGF), a specialized guarantee provider, have signed a deal that will the Group bolster its lending capabilities to SMEs.

Through an enhanced guarantee agreement of KES 3 billion for 10 years, NCBA will be able to increase its commitment to Kenya’s SME segment and continue to fund development of projects in renewable energy and sustainable agriculture as well as support women led/owned businesses.

During the ceremony, the Group Managing Director at NCBA, Mr John Gachora, said, “This strategic partnership with AGF is proof of our devotion to SMEs, particularly those spearheading sustainable practices led by women. I believe that by increasing our guaranteed limit, our capacity to offer more flexible and long-term financial solutions that support SME growth will contribute to economic growth.”

Through the support of AGF’s risk-sharing mechanism, NCBA cumulatively disbursed KES 16.4 billion in loans. Out of these credit facilities, AGF has supported 696 SMEs [over 3,500 transactions] amounting to KES 8.0 billion. The outstanding portfolio is worth KES 1.7 billion.  The partnership has so far generated 7,200 jobs, of which 2,200 target women, while youth account for 4,100 jobs. 

Signed by Mr. John Gachora, Group Managing Director of NCBA and Mr. Jules Ngankam, Group Chief Executive Officer of AGF, this enhancement will allow

NCBA reaffirmed its commitment to advancing financial inclusion for women entrepreneurs during a recent International Women’s Day dinner in Kapsabet, where the Group hosted its clients. Recognizing the resilience and ambition of women-led businesses, NCBA emphasized its dedication to providing tailored financial solutions, fostering strategic partnerships, and offering business education programs. By equipping women entrepreneurs with the necessary resources, knowledge, and networks, the Group aims to support their growth and long-term success.

In addition to the extension of the credit guarantee facility, AGF will provide a Capacity Development grant to NCBA that will be utilized in enhancing the Group’s capacity to lend to more SMEs and particularly to women-led SMEs through creation of a pipeline of credit ready WSMEs.

“Our partnership with NCBA represents a significant step in our mission to support SMEs, who constitute almost 98% of all business in Kenya, and create over 30% of the jobs annually. NCBA has been a valued partner for over 12 years, and this renewal marks a new milestone in our shared mission to unlock financing for SMEs. Our collaboration has already achieved remarkable impact, and by increasing this facility, we can reach even more businesses that are shaping the future of Kenya’s economy,” said AGF Group CEO, Jules Ngankam. 

Furthermore, this partnership corresponds with AGF’s goals of promoting women’s empowerment through the Affirmative Finance Action for Women in Africa (AFAWA) program and endorsing green initiatives to stimulate a more sustainable economy, through its Green Guarantee Facility.

NCBA actively promotes sustainability through targeted mentorship and skill-building programs for women and youth, fostering diversity and diligence. The Group directs at least 30% of its procurement to women and youth, advancing inclusion. Through a KES6.5 billion partnership with Proparco, NCBA supports green financing and women’s economic empowerment, aligning with its “Change the Story” agenda. 

Moreover, the institution invests KES150 million yearly in community development, education and sports. Its environmental efforts, such as tree planting and plastic reduction, further contribute to sustainable livelihoods. 

NCBA encourages SMEs seeking flexible financial solutions to partner with the Group to unlock credit facilities and other services to grow their businesses. The partnership will benefit these businesses as they will have access to a range of solutions, including finance, currency exchange, cash management systems, online banking, and other services.

About African Guarantee Fund

African Guarantee Fund is whose mission is to facilitate economic development and poverty reduction in Africa. To achieve this, AGF increases access to finance for Small and Medium-sized Enterprises (SMEs) across key economic sectors through an array of guarantee products and capacity development assistance. Since inception, AGF has unlocked more than USD 5 billion in SME financing, through partnerships with 250 partner financial institutions across 44 African countries.  

AGF is backed by the following shareholders and sponsors: The Government of Denmark through the Danish International Development Agency (DANIDA), the Government of Spain through the Spanish Agency for International Cooperation (AECID), the African Development Bank (AfDB), French Development Agency (AFD), Nordic Development Fund (NDF), Investment Fund for Developing Countries (IFU), German Development Bank (KfW), French Agency for Private Sector (PROPARCO), West African Development Bank (BOAD), Global Affairs Canada (GAC), USAID’s West Africa Trade & Investment Hub (WATIH), TechnoServe and NORAD. 

Raxio Secures $100 Million from IFC for Data Centers

Ronald Bwire
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Raxio Secures $100 Million from IFC for Data Centers

 
Raxio Group, a Sub-Saharan African data center platform, has received $100 million in financing in debt from the International Finance Corporation (IFC) to accelerate it’s expansion of facilities powering key technologies like AI, cloud computing and digital financial services. 

Raxio will use the financing to double its deployment of high-quality colocation data centers within three years in markets its operating including Ethiopia, Mozambique, the Democratic Republic of Congo, Côte d’Ivoire, Tanzania, and Angola.  

Raxio introduces Tier III-certified, carrier-neutral, and secure data services to markets that have been overlooked by other providers. With a focus on high-growth areas, the company is tapping into regions with significant economic potential to unlock new opportunities across the continent.  

“Raxio’s business model shows how digital infrastructure can empower businesses, governments and communities to thrive in the digital economy,” said Sarvesh Suri, IFC Regional Industry Director, Infrastructure and Natural Resources in Africa. “This partnership between Raxio and IFC is set to strengthen Africa’s digital ecosystem and catalyze further investments and regional integration, building a more inclusive and sustainable future.” 

IFC’s commitment builds on earlier debt funding from Proparco and the Emerging Africa Asia Infrastructure Fund (EAAIF), and equity investments from Roha Group and Meridiam. IFC’s financing includes concessional funding from the GROW Facility, which seeks to advance gender equity and inclusive economic growth through blended finance, and the IDA Private Sector Window, which supports private investment in the world’s poorest and most fragile markets. With IFC’s endorsement, Raxio is poised to accelerate its growth across its markets, while upholding the highest standards of reliability, scalability, and sustainability. 

“This funding from IFC is a powerful endorsement of Raxio’s vision and operational excellence,” said Robert Skjødt, CEO of Raxio Group. “It will allow us to bring critical infrastructure to the regions that need it most and attract further investment as we continue to grow. Together with our other partners, we’re building the foundation for Africa’s digital future and setting new benchmarks for sustainability.” 

Raxio’s facilities are designed for 24/7 reliability, ensuring uninterrupted service even during maintenance or unforeseen disruptions. The company integrates renewable energy solutions to minimize its environmental footprint and uses innovative energy-efficient equipment to reduce electricity and water consumption for cooling in several of its countries of operation.  

In the Democratic Republic of Congo, Raxio’s Kinshasa facility is poised to meet growing demand for data services in one of Africa’s largest and fastest-growing urban centers. In Côte d’Ivoire, Raxio is establishing a digital hub to serve Francophone West Africa, connecting regional markets and facilitating cross-border trade. These efforts are empowering local businesses and integrating them into the global digital economy. 

Founded in 2018 by Roha Group, Raxio is addressing the continent’s critical need for reliable, scalable digital infrastructure and delivers high-quality services that enable businesses and institutions to thrive in the digital age. With IFC’s support, Raxio is set to expand its role as a leading data center provider in Sub-Saharan Africa. 

Raxio Group is Africa’s premier provider of Tier III carrier-neutral colocation data centers, offering reliable and scalable infrastructure to support the continent’s digital transformation. With facilities in Uganda, Ethiopia, Mozambique, the Democratic Republic of Congo, Côte d’Ivoire, Tanzania, and Angola.

How NCBA’s Digital Platforms Are Disrupting East Africa’s Banking Industry

Sam Wakoba
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How NCBA’s Digital Platforms Are Disrupting East Africa’s Banking Industry
  • NCBA Group is a full-service banking group serving corporate, institutional, SME and consumer banking customers.
  • NCBA Group operates in five countries including Kenya, Uganda, Tanzania, Rwanda, and Ivory Coast.
  • NCBA Group is the largest banking group in Africa by customer numbers serving over 60 million customers.

For many years, Martha Ouma, a 42-year-old vegetable vendor (Mama Mboga) from Nyalenda in Kisumu, Kenya, struggled with cash flow.

Ms Ouma, like many small-scale traders in Kenya’s informal economy, lacked access to formal banking services. Cash flow was her biggest day-to-day struggle as she served many customers in her home area who knew her and most times wanted goods on credit. 

In 2015, everything changed when she discovered M-Shwari through her M-Pesa account. The service, which allows users to get instant loans with no paperwork required but just their mobile phones, was Martha’s first ‘bank’.  Martha secured her first loan of KES 2,000 to restock her inventory and diversify her product offerings.

Today, Martha manages a mini-market, credits her business growth to M-Shwari, and employs four assistants. Her story mirrors that of millions of East Africans whose lives have been transformed by NCBA’s digital products.

Martha is not the only one benefiting from digital platforms run by NCBA Group.

LOOP, another all-in-one-digital financial platform from NCBA is catering for the needs of thousands of users across the region. Allowing users to borrow, save, invest, and purchase whatever they need over its digital marketplace – LOOP Discover.

Kintu Kainerubaga, a smartphone vendor in Kigali running Kitante Communications says he uses LOOP as his digital bank and mobile money platform for his business and personal banking needs.

“LOOP is not just a bank for me,” he told TechMoran. “With LOOP I have access to digital payment services, loans both on short term and long term, buy now and pay later services and personalized financial insights and smart money management tools to help me run my business and invest in other opportunities.”

Kainerubabaga adds that Rwanda had no platforms like LOOP and the banking platforms available could only allow one to withdraw or deposit money on their accounts.

“Savings, investments and financial insights and smart money management tools are not offered by any of the traditional banks and if they are offered, one has to pay for them as separate consultancy services, and it’s expensive,” he told TechMoran.

By the end of 2024, in Kenya alone, LOOP had disbursed US Dollars more than 48 million worth of total loans since inception, processed transactions more than US Dollars 876 million for the year with over 400,000 Consumers and 160,000 Merchants registered in Kenya.

As a group, NCBA has continued to benefit from digital transformation. In its FY 2024 financial results,  NCBA Group PLC has posted a profit after tax of KES 21.9 billion which is a 2.0 per cent increase compared to KES 21.5 billion reported during a similar period in 2023. 

The Group also crossed the KES 1 trillion mark on digital loan disbursements due to digital transformation. The KES 1.0 trillion in digital loans is a 23 per cent increase year on year. 

“We are pleased to announce our Full Year 2024 financial results which reflect the resilience of our diversified business model. The underlying trends of our P&L remained solid while our cost increase of 10 per cent was driven by targeted investments in digital transformation, network expansion and operational efficiency which have positioned us for long-term growth. Amidst ongoing external headwinds, NCBA’s strategic imperatives have enabled us to deliver shareholder value,” remarked Mr. John Gachora, NCBA Group Managing Director. 

The Breakthrough that Redefined NCBA

Martha and Kintu exemplify millions of customers benefiting from NCBA’s digital transformation journey.

Launched in 2012 through a partnership between the then CBA and Safaricom, M-Shwari brings mobile banking with micro-lending to the masses over a simple, non-data enabled phone. The platform gives millions of Kenyans access to formal financial services, many of them, for the first time. To date, M-Shwari serves over 32 million users and has reportedly disbursed over $6 billion in loans, and mobilized over $400 million in deposits.

M-Shwari grew out of M-PESA which was launched 18 years ago by Safaricom, East Africa’s latest telco. M-pesa was officially launched on March 6, 2007 and in April, it had signed up over 19,671 active users and by November of the same year, it had reached 1,041,522 active M-pesa users. Today, M-PESA records over 100 million transactions daily and 4,000 transactions per second.

M-PESA empowers over 34 million customers to transact, save or borrow money through their mobile phones, M-PESA has driven financial inclusion in Kenya to 83.7% in 2021 of the adult population from a low of 26.7% in 2006 and generated over KES 139.9 billion ($1.08 billion) in revenue as at FY24.

Safaricom’s M-PESA is not the only inspiring innovation. NCBA Group is redefining Africa’s financial landscape through ground-breaking fintech innovations, empowering over 68 million customers with seamless access to credit, savings, and payments. NCBANOW, a NCBA Mobile banking solution for NCBA customers is the bank’s next leap in fintech innovation.

NCBANow

The mobile banking platform, set for launch across multiple African markets where NCBA operates or has partners, unifies NCBA’s retail and corporate banking services into a single digital experience, becoming a true bank of the future.

The NCBA Now App offers real-time account monitoring and card management, service requests and customizable alerts, fund transfer options, bill payments, and instant mobile wallet transactions, providing a seamless banking experience on both mobile and web.

NCBA Now is available in Kenya, Uganda, Rwanda, Tanzania and Ivory Coast, and is being expanded beyond these markets.

NCBA has expanded its fintech partnerships, targeting sectors such as merchant services (via LOOP), mobile lending, and SME financing and micro-insurance solutions integrated into digital platforms. Its recent acquisition and integration of AIG Insurance into NCBA Insurance Group is set to bring unprecedented digital disruption in the insurance sector in Kenya then across the region and Africa at large.

 NCBA’s planned pan-African expansion will help it scale digital services into Southern and Western Africa and enhance product offerings with AI, blockchain, and embedded finance technologies. The firm is also strong on sustainable finance and ESG initiatives to support climate-friendly projects and socially responsible lending across the region.

From its beginnings as CBA Bank and NIC Bank, NCBA has presented itself not just as a bank but a fintech innovator shaping the digital economy and promoting financial inclusion across Africa.

 NCBA Group is not just breaking down barriers within Africa—it is positioning itself to influence global fintech trends and unlock new opportunities for millions of people and businesses in the years ahead.  

Building a Fintech Ecosystem Beyond Kenya

Martha’s story is one of millions across Africa, showing how M-Shwari positioned NCBA at the heart of East Africa’s fintech revolution. Beyond M-Shwari, NCBA’s mobile-first solutions that are unlocking financial access across underserved regions include one with MTN Mobile Money and Vodacom to launch MoKash, MoMoKash, and M-PAWA in Uganda, Rwanda, Ivory Coast, and Tanzania.

These platforms have impacted 29.8 million customers, disbursing over $1.19 billion in loans to date. Crucially, they address the needs of historically underserved segments—rural women, youth, and micro-entrepreneurs—empowering them to access credit, build savings, and strengthen their economic resilience.

Back home we have Fuliza and Loop driving financial inclusion even further.

LOOP and Fuliza

NCBA’s digital bank targeted at the youthful generation, LOOP serves over 400,000 consumers and 160,000 merchants, with its all-in-one digital financial services, including payments, credit, and wealth management tools.

LOOP, a lifestyle-centric digital financial platform designed to cater to tech-savvy consumers and SMEs integrates a suite of services, including Omnichannel payments (card, mobile money, QR, NFC), savings and investment tools and flexible credit offerings (overdrafts, term loans, and Buy Now, Pay Later) 

Since its rollout, LOOP has disbursed over $48 million in loans and processed more than $876 million in transactions.

At Inclusive Fintech Forum 2025, LOOP CEO Eric Muriuki Eric stressed that payments should empower, not exclude people.

 “For too long, financial systems have favored the few—those with the right paperwork, collateral, or proximity to a bank branch.” Muriuki said on a panel on “DPI and the Future of Payments: Building an Inclusive and Efficient Financial Ecosystem.” 

But the world is changing – With solutions like LOOP, a market vendor can secure a loan in seconds, not weeks.”

Apart from LOOP, NCBA Bank also partnered Safaricom to launch Fuliza, a mobile overdraft facility, which now processes 3.5 million daily transactions and has disbursed over $22.4 billion. Fuliza plays a critical role in the day-to-day financial continuity of individuals and businesses by offering instant short-term credit. The platform is becoming an indispensable service that allows SMEs and consumers to manage cash flow gaps, emergencies, and operating expenses.

Banking experiences woven into everyday life

NCBA Bank is powering a future where banking isn’t about queues or paperwork, but an experience woven into everyday life. The bank’s vision for the future of payments is not just about new technologies but about creating systems that work, not just for the few, but for everyone. The fintech revolution isn’t in the technology and infrastructure—it’s the empowerment that comes with it. 

NCBA Group’s journey began over six decades ago. It’s a result of a merger of NIC Bank, founded in 1959 and Commercial Bank of Africa (CBA), established in 1962. In 2019, the two banks merged and gave birth to NCBA Group, bringing together expertise in corporate banking experience and a trailblazing approach to digital innovation. The merger gave birth to NCBA’s new era beyond conventional banking and into Africa’s leading fintech ecosystems now serving millions of customers.

Compromised Login Credentials Are The Root Cause of Cyber Attacks-Sophos Report

Brand Voice
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Compromised Login Credentials Are The Root Cause of Cyber Attacks-Sophos Report

Compromised login credentials are the root cause of cyber attacks according to a new report by Sophos, a global leader of innovative security solutions for defeating cyberattacks.

The report, dubbed the 2025 Sophos Active Adversary Report, found that the primary way attackers gained initial access to networks [56% of all cases across MDR and IR] was by exploiting external remote services, which includes edge devices such as firewalls and VPNs, by leveraging valid accounts.

The combination of external remote services and valid accounts aligns with the top root causes of attacks. For the second year in row, compromised credentials were the number one root cause of attacks [41% of cases]. This was followed by exploited vulnerabilities [21.79%] and brute force attacks [21.07%].

Understanding The Speed of Attacks

When analyzing MDR and IR investigations, the Sophos X-Ops team looked specifically at ransomware, data exfiltration, and data extortion cases to identify how fast attackers progressed through the stages of an attack within an organization. In those three types of cases, the median time between the start of an attack and exfiltration was only 72.98 hours [3.04 days]. Furthermore, there was only a median of 2.7 hours from exfiltration to attack detection.

“Passive security is no longer enough. While prevention is essential, rapid response is critical. Organizations must actively monitor networks and act swiftly against observed telemetry. Coordinated attacks by motivated adversaries require a coordinated defense. For many organizations, that means combining business-specific knowledge with expert-led detection and response. Our report confirms that organizations with proactive monitoring detect attacks faster and experience better outcomes,” said John Shier, field CISO.

Other Key Findings from the 2025 Sophos Active Adversary Report:

  • Attackers Can Take Control of a System in Just 11 Hours: The median time between attackers’ initial action and their first [often successful] attempt to breach Active Directory [AD] – arguably one of the most important assets in any Windows network – was just 11 hours. If successful, attackers can more easily take control of the organization.
  • Top Ransomware Groups in Sophos Cases: Akira was the most frequently encountered ransomware group in 2024, followed by Fog and LockBit [despite a multi-government takedown of LockBit earlier in the year].
  • Dwell Time is Down to Just 2 Days: Overall, dwell time – the time from the start of an attack to when it is detected – decreased from 4 days to just 2 in 2024, largely due to the addition of MDR cases to the dataset.
  • Dwell Time in IR Cases: Dwell time remained stable at 4 days for ransomware attacks and 11.5 days for non-ransomware cases.
  • Dwell Time in MDR Cases: In MDR investigations, dwell time was only 3 days for ransomware cases and just 1 day for non-ransomware cases, suggesting MDR teams are able to more quickly detect and respond to attacks.
  • Ransomware Groups Work Overnight: In 2024, 83% of ransomware binaries were dropped outside of the targets’ local business hours.
  • Remote Desktop Protocol Continues to Dominate: RDP was involved in 84% of MDR/IR cases, making it the most frequently abused Microsoft tool.

To shore up their defenses, Sophos recommends that companies do the following:

  • Close exposed RDP ports
  • Use phishing-resistant multifactor authentication [MFA] wherever possible
  • Patch vulnerable systems in a timely manner, with a particular focus on internet-facing devices and services
  • Deploy EDR or MDR and ensure it is proactively monitored 24/7
  • Establish a comprehensive incident response plan and test it regularly through simulations or tabletop exercises

Read the full It Takes Two: The 2025 Sophos Active Adversary Report on Sophos.com.

The Amazon Web Services (AWS) Skills Center is empowering the next generation of technology talent in Africa with hands-on cloud computing knowledge and industry-recognized skills.

AWS Skills Center Training Africa’s Next Generation of Cloud Builders in Kenya

Terryanne Koech
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AWS Skills Center Training Africa’s Next Generation of Cloud Builders in Kenya

The Amazon Web Services (AWS) Skills Center is empowering the next generation of technology talent in Africa with hands-on cloud computing knowledge and industry-recognized skills.

This AWS Skills Center has successfully concluded a three-day in-person cloud computing skills initiative at the University of Nairobi (UoN), providing hands-on training to 125 first-and second-year students.

“We are thrilled to have collaborated with the University of Nairobi to bring in person AWS instructor-led training to Kenyan students,” said Nondumiso Zibi, AWS Director for Support Engineering, EMEA. “Cloud computing is at the core of digital transformation, and we believe access to high-quality training is essential to unlocking career opportunities. This initiative is aligned with our long-term commitment to equipping young people with the necessary technical skills to thrive in the current global job market.”

Launched in 2023 in South Africa, the AWS Skills Center, the first skills center outside the U.S., to remove the barriers of access to cloud skills training, helping non-technical learners build new cloud skills and unlock career opportunities.

The AWS Skills Center in Cape Town, also offers virtual AWS instructor led training, enabling students across Africa to participate remotely. Kenyan students who missed the Nairobi event were able to register for these sessions and receive the same virtual AWS instructor-led training experience. As cloud computing and AI adoption grows, AWS remains committed to providing free, accessible training to foundational learners, ensuring Africa’s active participation in the digital future of work.

Building a skilled workforce for the future

The AWS-UoN community classroom is part of a broader strategy for AWS Skills Center to address the growing demand for technical expertise in cloud computing, artificial intelligence (AI), and big data. During the training, students participated in six AWS instructor-led classes covering foundational cloud concepts and the Becoming a Cloud Practitioner series, designed for individuals with no prior IT or cloud experience switching to a cloud career or for line-of-business employees looking for foundational cloud literacy.

The University of Nairobi hailed the collaboration as a crucial step in ensuring students are industry-ready upon graduation. “The future of work is digital, and our work with AWS ensures that our students gain practical, industry-relevant skills,” said Professor Andrew Kahonge, Chair of the Department of Computing and Informatics at UoN. “We recognize the increasing demand for cloud expertise and are committed to equipping our students with the knowledge and certifications that will give them a competitive edge in the job market. This training has been an invaluable opportunity, and we look forward to future collaborations that will benefit our students and Kenya’s tech ecosystem.”

Professor Leonidah Kerubo, Dean of the Department of Computing and Informatics at UoN noted that imparting practical skills to students is crucial as they prepare for the future of work. “We want our students to be market ready. That’s why we are working very closely with industry players like AWS so they can fit with the current tech industry requirements,” she said. “The mandate of AWS is aligned with our mandate in that we are inculcating a culture of innovation to our students. AWS coming to show us how to close the skill gap is very important and that’s why we appreciate them.”

Students seized the opportunity

The training drew a diverse group of students eager to jumpstart their careers in technology. Many participants noted that the hands-on learning and real-world applications discussed during the sessions gave them a new perspective on cloud computing and its potential.

Cecilia K’Owiti, a second-year computer science student, described the training as a transformative experience. “Before this program, I had a rough understanding of how cloud computing works, but now I see its actual areas of application and the career paths it can open for me. The instructor was knowledgeable, and I appreciate his interactive approach,” she said.

Neville Mwangangi, a fourth-year computer science student, found the sessions eye-opening. “Our instructor Nigel Solomons was great. He broke down complex core elements of cloud infrastructure into simple explanations. My idea of the cloud was more on storage, but I got to understand it as a service. I now have access to AWS Labs for more learning. What stood out for me was learning about different job roles in the cloud and how accessible AWS certifications are. I now know how to become a cloud solutions architect.”

For Terry Mukundi, a fourth-year computing student, the training she received during the three days was invaluable. “I knew about cloud computing but only in theory. I got practical skills on cloud networking, cloud security and machine learning. This training helped me understand how to optimize the cloud for D-planning workflows and I’m now more confident in plugging into the AWS cloud services especially when deploying my fourth-year course project.”  

AWS encouraged students who completed the training to pursue earning their AWS Certified Cloud Practitioner certification and continue their journey with free, self-paced training from AWS Educate, which offers an extensive digital library of courses and hands-on labs.  

Samsung Unveils Galaxy A56 5G, Galaxy A36 5G and Galaxy A26 5G in Kenya

Ronald Bwire
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Samsung Unveils Galaxy A56 5G, Galaxy A36 5G and Galaxy A26 5G in Kenya

Samsung has announced availability of Galaxy A56 5G, Galaxy A36 5G and Galaxy A26 5G, the latest Galaxy A series smartphones in the Kenyan market with Galaxy’s AI-powered features.

“The new Galaxy A series brings advanced AI-powered features to more users across the region, providing them with tools to boost their creativity, improve user convenience and enhance productivity with durable, seamless and secure mobile experiences,” said Anthony Hutia, Head of Mobile eXperience (MX) at Samsung Electronics East Africa.

Awesome Intelligence on Galaxy A56 5G, Galaxy A36 5G, and Galaxy A26 5G brings users powerful, fun and easy-to-use AI tools. Powered by One UI 7, Awesome Intelligence features provide amazing search and visual experiences to Galaxy A series users.

Google’s enhanced Circle to Search, makes it easier than ever to search and discover from the phone’s screen. The Galaxy A series comes with a powerful triple-camera system featuring a 50MP main lens on all devices and 10-bit HDR front lens recording on Galaxy A56 5G and Galaxy A36 5G for bright and crisp selfies. Galaxy A56 5G features a 12MP ultra-wide lens.

Galaxy A56 5G, Galaxy A36 5G and Galaxy A26 5G all bring fine-refined Object Eraser among other AI features. The devices also come with six generations of Android OS and One UI upgrades, and six years of security updates.

The Galaxy A56 5G, Galaxy A36 5G and Galaxy A26 5G also introduce a larger display created for a high-quality, immersive viewing experience. Galaxy A56 5G and Galaxy A36 5G both feature a 6.7-inch FHD+ Super AMOLED display with brightness levels reaching up to 1200 nits, allowing for a more vibrant and immersive entertainment experience. New stereo speakers further enhance the experience with rich, balanced sound.

Thanks to the integration of One UI 7 on the Galaxy A series for the first time, Samsung is further supporting robust security and privacy. With Samsung Knox Vault, the Galaxy A series provides an extra, fortified layer of device safety, transparency and user choice – ensuring sensitive data stays protected. Equipped with the latest One UI 7 security and privacy features, Galaxy A series users benefit from holistic protection  — including enhancements in Theft Detection, More Security Settings and other features.

Samsung will also launch the Galaxy A56 5G Enterprise Edition, offering business-ready mobile experiences to cutting-edge enterprises of any size. Enterprise customers benefit from seven years of security and One UI updates, three years of warranty, and a two-year product lifecycle guarantee to ensure long-lasting and worry-free adoption. It also includes a one-year license to the Knox Suite – Enterprise Plan.

SPECIFICATION TABLE

Galaxy A56 5GGalaxy A36 5GGalaxy A26 5G
Display6.7-inch FHD+
FHD+ Super AMOLED Display Up to 120Hz refresh rate Vision BoosterSuper AMOLED Display Up to 120Hz refresh rate Vision Booster
*Measured diagonally, the screen size is 6.7-inch in the full rectangle and 6.5-inch with accounting for the rounded corners; actual viewable area is less due to the rounded corners and camera hole.
Dimensions & Weight162.2 x 77.5 x 7.4mm, 198g162.9 x 78.2 x 7.4mm, 195g164.0 x 77.5 x 7.7mm, 200g
*Device weight may vary by market.
Camera12MP Ultra-Wide Camera ·         F2.2 50MP Main Camera ·         F1.8, AF, OIS 5MP Macro Camera ·         F2.4 12MP Front Camera ·         F2.28MP Ultra-Wide Camera ·         F2.2 50MP Main Camera ·         F1.8, AF, OIS 5MP Macro Camera ·         F2.4 12MP Front Camera ·         F2.28MP Ultra-Wide Camera ·         F2.2 50MP Main Camera ·         F1.8, AF, OIS 2MP Macro Camera ·         F2.4 13MP Front Camera ·         F2.2
Memory & Storage8GB + 128GB (RRP $699) 8GB + 256GB (RRP $799)6GB + 128GB (RRP $549)6GB + 128GB (RRP $499)
*Storage options and availability may vary by carrier, market or region. Actual storage availability may vary depending on pre-installed software.
Battery5,000mAh (typical)
*Typical value tested under third-party laboratory conditions. Typical value is the estimated average value considering the deviation in battery capacity among the battery samples tested under IEC 61960 standard. Rated (minimum) capacity is 4,905mAh. Actual battery life may vary depending on network environment, usage patterns and other factors.
OSAndroid 15
One UI 7
SecuritySamsung Knox
Water & Dust ResistanceIP67
Galaxy A56 5G, Galaxy A36 5G and Galaxy A26 5G are rated as IP67, Based on lab test conditions for submersion in up to 1 meter of freshwater for up to 30 minutes. Not advised for beach or pool use. Ensure the charging port is dry before charging. Please refer to your device’s user manual for further care instructions and limitations.

Visa Appoints New Country Manager for Kenya South Sudan & Somalia

Ronald Bwire
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Visa Appoints New Country Manager for Kenya South Sudan & Somalia

Visa, a digital payments firm, has appointed John Njoroge as the new Country Manager and Senior Business Development Leader for Kenya, South Sudan, and Somalia.

In this role, John will drive Visa’s strategic growth, enhance client relationships, and spearhead the expansion of digital payment solutions across the three markets.

Speaking on the new appointment, Chad Pollock, Vice President and General Manager for East Africa at Visa, said, “We are thrilled to welcome John to the Visa East Africa team. His deep expertise in digital payments, strong leadership skills, and strategic mindset will be invaluable in driving Visa’s mission to expand financial inclusion and digital commerce in Kenya, South Sudan, and Somalia. We look forward to seeing the impact of his leadership in strengthening our partnerships and advancing the digital payments ecosystem in the region.”

John possesses extensive knowledge of the digital payments sector, with expertise in financial technology, strategic partnerships, and innovative banking solutions. He will oversee a dynamic portfolio of clients, strengthening Visa’s strategic value in the region by fostering executive relationships, identifying growth opportunities, and increasing both client and Visa revenue.

John will establish the strategic direction for business objectives in these markets and lead critical projects, including the implementation of new products and services that will accelerate digital payment adoption and financial inclusion. His leadership will play a crucial role in advancing Visa’s commitment to driving innovation and expanding digital commerce across the region.

“I am excited to join Visa and contribute to the expansion of digital payments across Kenya, South Sudan, and Somalia. Visa has been at the forefront of driving financial innovation, and I look forward to collaborating with our clients and stakeholders to introduce secure, seamless, and inclusive payment solutions that benefit businesses and consumers alike,” said John.

John has over twenty years of expertise in the banking and Fintech sectors. Most recently, he served as the Regional Managing Director for East Africa at Network International. As a past Chairman of the Kenya Credit & Debit Cards Association (KCDCA), which falls under the umbrella of Kenya Bankers Association, he led the industry wide adoption of Near Field Contactless (NFC), migration from magnetic stripe cards to Chip & PIN cards and the adoption of best practice card payment processes including collaborating with the Judiciary to enhance the legal processes on card fraud

Multinational African Enterprises

Contributor
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Multinational African Enterprises

Multinational African Enterprises such as Ecobank Transnational Incorporated (ETI) and MTN Group

By Eric Osiakwan and Yaw Owusu

Ecobank Transnational Incorporated (ETI), better known as Ecobank is a multinational African enterprise in the banking sector started in Lome, Togo with current operations in 36 African countries and representative offices in London, Paris, Beijing and Dubai.

Shares of the pan-African banking conglomerate are traded on the Ghana Stock Exchange (GSE), Nigeria Stock Exchange (NSE) and the Côte d’Ivoire-based Bourse Régionale des Valeurs Mobilères SA (BRVM), a stock exchange for eight Francophone West African countries, featuring; Benin, Burkina Faso, Guinée-Bissau, Côte d’Ivoire, Mali, Niger, Sénégal and Togo. The principal Ecobank shareholders include Nedbank (21.2%), Qatar National Bank (20.1%), Arise B.V (14.1%), Public Investment Corporation (PIC) (13.5%), Social Security & National Insurance Trust (SSNIT) of Ghana (3.86%) and Alain Francis Nkontchou (1.06%).

Ecobank was established in 1985 in response to the urgent financial needs of entrepreneurs across West Africa to serve both Anglophone and Francophone markets. The initiative originated from the Federation of West African Chambers of  Commerce & Industry (FEWACCI), a regional body that promotes economic cooperation and development. The Federation’s vision of creating a private regional banking institution was embraced by the bank’s founders, including Gervais Koffi Djondo of Togo and Adeyemi Lawson of Nigeria. Their goal was to facilitate trade and enhance economic development within the region, a vision solidified at a meeting in Mali  in 1972 where  the concept of a private sector institution was first debated. In October 1985, ETI was incorporated with an authorized capital of US$100 million, backed by initial paid-up capital of US$32 million sourced from over 1,500 individuals and institutions throughout West Africa. The ECOWAS Fund for Compensation and Development was the largest shareholder, underscoring the bank’s regional focus right from its early days. The Togolese government granted ETI the status of an international organization, enabling it to operate as a non-resident financial institution with the necessary privileges and rights.

Gervais Koffi Djondo with a model Asky Airline plane

The founders – Gervais Koffi Djondo, Adeyemi Lawson and Philip Asiodu – envisioned an indigenous African banking enterprise that would unite and serve the African continent, so they brought in Arnold Ekpe, a key figure in the bank’s early success, establishing a robust banking presence in Nigeria, Ivory Coast and others. Throughout the late 1980s and early 1990s, Ecobank continued to expand its network, focusing on fostering economic integration and offering innovative financial services tailored to the unique needs of the region’s diverse markets.

In 2005, Gervais Koffi Djondo took to the skies to create a multinational African air passenger carrier, Asky Airlines, with Togo as its headquarters and Mr. Djondo as president. At a conference of the Economic Community of West African States (ECOWAS) and the West African Economic and Monetary Union (UEMOA), hosted in Niamey, Niger on 10 January 2004, the group decided to establish a private, competitive, cost-effective airline offering all guarantees of safety and security for the region. The following year, Gervais seized the opportunity and brought in Ethiopian Airlines as technical and strategic partner under a management contract for the first five years of operation, holding a 40% stake. Asky Airlines took after the ethos of the award-winning Ethiopian Airlines, a multinational African enterprise owned by the Ethiopian government since its formation in 1945 by Emperor Haile Selassie.

MTN Group Limited (formerly M-Cell) is a South African multinational enterprise and mobile telecommunications provider. With a market capitalization of $12.9 billion, MTN is among the largest mobile network operators in the world, and the largest in Africa. The company is active in over 20 countries including Asian countries like Syria, with one-third of company revenue generated in Nigeria.

Armed with 288 million mobile subscribers and 20 million mobile money subscribers, the world’s 10th largest mobile network operator by subscriber base, MTN, is listed on the stock exchanges in South Africa, Nigeria, Ghana, Rwanda and the UK.

In 1994 after Nelson Mandela was sworn in as the first democratically-elected President of South Africa, the first call was made on the MTN network, heralding a promising beginning with the help of the South African government. In 1995, it replaced its then CEO, John Beck, with Robert (Bob) Chaphe and founder Leena Jaitley. In 2001, the company announced Johnnic Holdings as its controlling shareholder, with Irene Charnley as the chairperson. In 2002, Phuthuma Nhleko became the Chief Executive, replacing Paul Edwards, who had invested in MTN’s expansion into Nigeria.

Some of these multinational African enterprises are a result of mergers and acquisitions and not necessarily organic growth. Case in point is the merger of Wasoko of Kenya and Egypt’s MaxAB to form Africa’s largest tech merged enterprise ever, creating a powerful Business to Business (B2B) e-commerce platform spanning Kenya, Tanzania, Egypt, and Morocco.

The two companies affirm that the all-stock transaction heralds “an evolution from B2B e-commerce companies to a multi-vertical ecosystem for Africa’s $600 billion informal retail sector.” The blockbuster deal comprised integrating 16 subsidiaries in Africa, Daniel Yu, co-CEO of the combined firm. Silver Lake, Avenir, Tiger Global and British International Investment (BII) collectively invested over $240 million in Wasoko and MaxAB before the merger. The two firms provide e-commerce solutions for mostly small informal retailers to order inventory from suppliers and receive quick deliveries, typically on the same day. The new venture has a massive 450,000 merchants serving over 65 million customers and more than 4,000 full-time employees.

In 2005, Tony Elumelu of Heirs Holdings led the acquisition of Standard Trust Bank (STB) by United Bank for Africa (UBA) – it was one of the largest mergers in the banking sector in Sub-Saharan Africa and UBA has since expanded its footprint to 19 African countries. By the end of 2025, UBA intends to expand throughout Africa and establish a branch in Saudi Arabia. Africa is poised to register more of such mega deals as the last business frontier continues to attract groundbreaking investments from its increasingly wealthy citizens and well-funded businesses and global financiers seeking promising returns on investment.

In an essay titled “Leveraging Africa’s Inner Strength to Realize Its Full Economic Potential,” McKinsey Africa executives Acha Leke, Omid Kassiri and Mayowa Kuyoro, and Landry Signé from The Brookings Institution wrote: “The question is no longer whether Africa will rise to meet the demands of a rapidly globalizing world, but how it will do so while building on its inherent strengths. It is home to the world’s youngest and fastest-growing population, fast-growing cities and bold innovations in everything from fintech to clean energy.”

Sumet Technologies Secures $1.5M to Revolutionize FMCG Distribution Across Africa

Ronald Bwire
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Sumet Technologies Secures $1.5M to Revolutionize FMCG Distribution Across Africa

Sumet Technologies, a Tanzanian startup has successfully raised $1.5 million in pre-seed funding to enhance its AI-powered distribution platform for the Fast-Moving Consumer Goods (FMCG) industry across Africa. This funding marks a significant milestone in addressing supply chain inefficiencies that have long plagued the continent’s retail sector.

AI-Driven Transformation in FMCG Distribution

Sumet Technologies is leveraging artificial intelligence and data analytics to optimize inventory management, supply chain logistics, and last-mile distribution for FMCG companies. The startup’s digital platform connects retailers, wholesalers, and manufacturers with real-time demand forecasting and automated supply chain solutions, reducing stockouts, improving distribution efficiency, and minimizing waste.

According to Hazem Afify, the CEO of Sumet Technologies, “At Sumet, we’re tackling one of Africa’s biggest challenges – enabling new brands to enter and grow in the market. This funding is crucial to strengthening our tech stack, bridging distribution gaps, and building a dynamic, cost-effective ecosystem that empowers brands to scale effectively.”

With this technology, businesses can access data-driven insights to make better decisions regarding inventory replenishment, pricing, and market expansion. The solution is particularly beneficial for Africa’s fragmented retail sector, where traditional distribution networks struggle to meet demand effectively.

Who Are the Investors?

Sumet Technologies’ pre-seed funding round attracted notable investors, including African Business Angel Network (ABAN): A pan-African association that supports early-stage investment in promising startups across the continent. Catalytic Africa: An initiative designed to enhance Africa’s startup ecosystem by providing funding and strategic guidance to innovative ventures and Egyptian Angel Syndicate: A collective of Egyptian angel investors focused on funding high-potential startups in Africa.

These investors recognize Sumet’s potential to revolutionize FMCG distribution and improve access to essential goods across Africa’s emerging markets.

Expanding Market Reach and Impact

Sumet Technologies plans to use the $1.5 million investment to expand its operations into new African markets, starting with East and West Africa. Enhance its AI and machine learning capabilities to provide even more accurate demand forecasting. Strengthen its logistics network to reduce transportation costs and improve delivery times. Support retailers and wholesalers with an integrated, tech-driven approach to FMCG distribution.

Case Study: Sumet’s Impact on a Leading FMCG Retailer

A leading Tanzanian FMCG retailer, Jumbo Grocers, adopted Sumet Technologies’ AI-driven platform to manage its inventory and streamline deliveries. Before integrating Sumet’s solution, the retailer experienced frequent stockouts and inefficient delivery schedules, leading to revenue losses and dissatisfied customers.

After implementing Sumet’s technology:

  • Stockout rates dropped by 40%, order fulfillment speed improved by 30%, operational costs reduced due to optimized supply chain planning and revenue growth accelerated as a result of better inventory availability and faster restocking.

Addressing Africa’s FMCG Supply Chain Challenges

Africa’s FMCG sector faces persistent issues such as inefficient distribution networks, supply chain bottlenecks, and unreliable demand forecasting. Sumet’s AI-powered platform helps businesses overcome these challenges by providing:

  • Predictive analytics to anticipate demand and prevent stock shortages.
  • Automated order management for seamless supply chain coordination.
  • Last-mile delivery optimization to reduce transportation costs and improve efficiency.

With this funding, Sumet Technologies is set to become a game-changer in FMCG distribution, helping retailers and manufacturers navigate Africa’s complex supply chains while ensuring essential goods reach consumers efficiently.

Fadilah Tchoumba, CEO of ABAN, praised Sumet Technologies for its innovative approach to FMCG distribution, stating, “Sumet Technologies is revolutionizing consumer goods distribution by facilitating market penetration for new brands and optimizing supply chains across Africa. Their commitment to impact-driven innovation aligns with our mission to foster ventures that drive sustainable economic growth on the continent.”

The Future of Sumet Technologies

The startup aims to expand its footprint across multiple African markets, reinforcing its commitment to solving critical distribution challenges and empowering businesses with advanced logistics solutions. By scaling its AI-driven platform, Sumet Technologies is poised to revolutionize how FMCG products are distributed, managed, and delivered across the continent.

With its innovative approach and strong investor backing, Sumet Technologies is well-positioned to transform Africa’s FMCG landscape and create more resilient supply chains for businesses of all sizes.

Tips for Building a Strong Online Presence

James Musoba
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Tips for Building a Strong Online Presence

Having a strong online presence is essential for success, whether you’re an individual aiming to build a personal brand or a business seeking to reach a wider audience. With billions of people using the internet, standing out and making a meaningful impact can be challenging, but it’s achievable with the right strategies. In this blog post, we’ll cover several tips that will help you to build and maintain a strong online presence.

1. Create a Professional Website

Your website is the first point of contact for potential clients, employers, or followers, so making a strong first impression is essential. A well-designed, user-friendly site serves as your digital business card and is the foundation of your online presence. Whether you’re a freelancer, entrepreneur, or a company, your website should clearly convey who you are, what you offer, and how visitors can get in touch with you.

Ensure your website is responsive, meaning it looks and functions well on desktop and mobile devices. Include essential pages such as About, Services or Products, Portfolio or Blog, and a Contact page. Keep your content up to date, and be sure to showcase testimonials, client feedback, or case studies to build credibility and trust.

2. Leverage Social Media Platforms

Social media platforms are powerful tools to engage with your audience and build your online presence. Whether you’re using Facebook, Instagram, Twitter, LinkedIn, or other platforms, each offers unique ways to connect with your audience.

To build a solid social media presence, you need to be consistent. Post regularly, share valuable content, and engage with your audience through comments and messages. Additionally, choose the platforms that align best with your niche. For example, if you’re a photographer, Instagram may be your best option due to its visual nature. On the other hand, LinkedIn is ideal for professionals looking to network.

Incorporating paid advertising on platforms like Facebook or Instagram can also help you target specific audiences, further extending your reach. However, ensure your organic strategy is solid before investing in paid advertising.

3. Start a Blog or Content Hub

Content marketing is one of the more effective ways to build your online presence. A blog or content hub allows you to showcase your expertise, provide value to your audience, and establish credibility within your niche. Regularly posting informative and valuable content can attract organic traffic to your website through search engines.

When creating blog posts, make sure to focus on quality over quantity. Write content that answers common questions, provides solutions, and offers insights your target audience will find valuable. Don’t forget to optimize your posts for SEO by incorporating relevant keywords, meta descriptions, and internal links.

Repurpose your content into other formats like infographics, podcasts, or videos to reach a broader audience and diversify your content strategy.

4. Optimize Your SEO

Search Engine Optimization (SEO) is central for driving organic traffic to your website. By optimizing your website for search engines, you make it easier for potential visitors to find your content. SEO involves various aspects, including keyword research, on-page SEO (like title tags, headings, and meta descriptions), and off-page SEO (such as backlinks from other websites).

A solid SEO strategy can increase your website’s visibility, improve your ranking on search engine results pages (SERPs), and ultimately drive more traffic to your website. Regularly updating your website’s content and ensuring it is mobile-friendly are additional factors that contribute to better SEO performance.

5. Invest in a Cheap VPS Server for Better Performance

As your online presence grows, you may need more resources to ensure your website runs smoothly. If you rely on shared hosting, you might experience slow load times, downtimes, or issues with website performance. One solution is to invest in a cheap VPS server. A VPS (Virtual Private Server) offers better performance, greater control, and more flexibility than shared hosting, enabling your website to handle higher traffic and deliver faster load times.

When selecting a VPS server, choose a provider offering reliable uptime, scalable resources, and good customer support. With the right VPS hosting solution, you can maintain a seamless user experience and keep your audience engaged.

6. Network and Collaborate with Others

Building relationships and networking with other individuals in your niche is key to building your online presence. Collaborating with others allows you to tap into new audiences, gain credibility, and increase your visibility. Reach out to influencers, bloggers, or companies in your industry for guest posting opportunities, joint ventures, or promotional partnerships.

Networking doesn’t just mean reaching out to others in your niche. It also involves engaging with your audience. Respond to comments on your blog or social media posts, interact with others’ content, and participate in online communities like forums or groups related to your area of interest.

7. Monitor and Analyze Your Performance

It’s important to track your progress and understand your evolving online presence. Use tools like Google Analytics, social media insights, and other tracking tools to measure your website traffic, audience engagement, and conversion rates.

Regularly reviewing this information helps you understand what’s working and what isn’t, enabling you to tweak your strategies for optimal results. Monitoring your performance also allows you to spot new opportunities and alter your approach based on trends in your industry.

8. Be Authentic and Consistent

Authenticity and consistency are critical components of a strong online presence. Whether you’re interacting with followers on social media or posting blog content, always aim to be true to yourself and your brand. People connect with authenticity; by being genuine, you’ll attract the right audience that resonates with your message.

Consistency also plays a significant role. Posting regularly, maintaining a consistent tone across all platforms, and aligning your content with your brand’s values will help you build trust and credibility over time.

Conclusion

Building a solid online presence doesn’t happen overnight, but by following these tips, you can take actionable steps toward creating a lasting digital footprint. From establishing a professional website to leveraging social media, content marketing, and SEO, you can increase your visibility and attract the right audience. Don’t forget to invest in reliable hosting, like a cheap VPS server, to ensure your website remains fast and accessible to visitors. With persistence, authenticity, and strategic planning, your online presence will continue to grow and thrive.

Telkom Exits Swiftnet to Actis-led Consortium for $370 million

Ronald Bwire
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Telkom Exits Swiftnet to Actis-led Consortium for $370 million

Telkom South Africa has sold 100% of telecom tower operator Swiftnet to an Actis-led Consortium for $370 million.

The Actis-led consortium, which includes international and local investors including the Mineworkers Investment Company (MIC), a 100% black-owned broad-based South African investment holding company, now owns 70% of Swiftnet, partnering with Royal Bafokeng Holdings as the 30% shareholder.

According to David Cooke, Partner at Actis, “It’s terrific to have completed the acquisition of Swiftnet, which we aim to establish as the leading independent Towerco in South Africa. The business benefits from great relationships with its anchor tenants and mobile network operators, which we plan to reinforce.”

Swiftnet, which was acquired by the Actis-led consortium from Telkom for $370 million (ZAR6.75 billion), has more than 4,000 telecom tower sites across South Africa. The platform will retain strong relationships with Telkom and other current anchor tenants as it aims to become a leading towerco in the country, expanding coverage in rural areas and increasing access to the internet while driving the transitions from 3G and 4G technology to 5G.

The transaction reinforces Actis’ position as an important investor in South African digital infrastructure, having previously experienced a successful investment in Octotel, a leading fibre network operator in the Western Cape, that the firm exited in 2024. The deal also aligns with MIC’s strategic investment focus and its commitment to diversifying its portfolio through exposure to sectors with significant structural tailwinds, including those providing enabling digital infrastructure such as Swiftnet.

Matthew McCollum, Director at Actis, said: “We believe Swiftnet has a unique portfolio of tower assets across South Africa and has the potential to drive forward the mobile market, notably by expanding coverage and increasing access to 5G technology. This represents another exciting investment in digital infrastructure for Actis, building on our experience in the sector, and we look forward to working with the Swiftnet team to fuel the platform’s growth as we embark on this new chapter.”

Cynthia Pongweni, Acting Chief Executive Officer at MIC, added: “We are thrilled to partner with experienced, reputable players like Actis and Royal Bafokeng. This transaction marks a significant step forward in advancing South Africa’s digital connectivity and 5G capabilities, while contributing to the ongoing growth and modernisation of the telecommunications infrastructure in the country.”

Actis is increasing its investments into digital infrastructure globally, with this deal following up on the firm’s investments last year into Connectis Tower, an independent tower platform in the Balkans, and Epoch Digital, a new integrated data centre platform in Asia with assets in development in Taiwan, Malaysia and Korea. The firm’s total investment experience across digital infrastructure now reaches a combined enterprise value of c.US$3.5 billion.

2024 ASUS Zenbook A14 UX3407 Review: High-End Performance Meets Sleek Design 

Val Lukhanyu
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2024 ASUS Zenbook A14 UX3407 Review: High-End Performance Meets Sleek Design 
 Key Specifications
CPU Qualcomm® Snapdragon® X Elite Platform (45W chipset power)Qualcomm® Snapdragon® X Platform (28W chipset power)
Graphics Qualcomm® Adreno™ GPU
Neural ProcessorQualcomm® Hexagon™ NPU 45 TOPS
Operating system Windows 11 Pro / Windows 11 Home
Display Options 14” 16:10 FHD (1920 x 1200) OLED display Four-sided NanoEdge with 90% screen-to-body ratio 600-nits peak brightness100% DCI-P3DisplayHDR™ 600 True Black
Main memory Up to 32 GB 8533 MHz LPDDR5X (onboard)
Storage Up to 1 TB PCIe® 4.0 x4 NVMe® M.2 SSD
Connectivity Up to Dual-band WiFi 7 (802.11ax) + Bluetooth® 5.4
Camera ASUS AI camera FHD 3DNR IR camera with ambient light and color sensor
I/O ports 2 x USB4 Type-C® with full-range charging (5–20 V)1 x USB 3.2 Gen 2 Type-A1 x standard HDMI® 2.1 (TMDS)1 x 3.5 mm combo audio jack
TouchpadASUS ErgoSense touchpad with smart gesture support
Audio Dolby Atmos® sound systemBuilt-in array microphone
Battery 70 Wh lithium-polymer battery
AC adapter 65 W/ 90 W Type-C®
Dimensions 31.07 x 21.39 x 1.34~1.59cm 
Weight 980 g

Display, Design and Build Quality

It’s not every day you get a premium laptop offering cutting-edge technology with a perfect blend of power, design, and efficiency. The visually appealing Asus Zenbook A14 UX3407 with Qualcomm’s Snapdragon X Elite platform and an OLED display, is designed to meet the needs of professionals and enthusiasts who demand both performance and aesthetics.

Asus Zenbook A14 incorporates the new Ceraluminum™ into the laptop lid, keyboard frame, and base, to give it an ultra-lightweight design without compromising strength or performance. Ceraluminum™ is tested for scratch resistance, shock resistance, and wear ensuring it is scratch-free, resilient to shocks, and maintains its pristine looks, providing users with a laptop that is both lightweight and exceptionally durable. 

The Zenbook A14 is available in two sophisticated colors: Iceland Gray and Zabriskie Beige. We have the Iceland Gray version.

At 980g and with dimensions of 31.07 x 21.39 x 1.34~1.59 cm, this laptop is so light that it feels like you are carrying around a feather yet so powerful a machine in one’s hands. It strikes an ideal balance between portability and functionality and it’s sleek, lightweight, and durable for all-round and on-the-go use. The four-sided NanoEdge display pushes the screen-to-body ratio to 90%, ensuring a nearly borderless viewing experience. We used it for working, gaming, and watching, and loved it.

The Zenbook’s 14” 16:10 OLED display comes with a 1920×1200 resolution with 600-nits peak brightness and 100% DCI-P3 color accuracy and a user will see real-life colors. Asus adds a bonus of DisplayHDR™ 600 True Black for deep black colours and contrasts giving media editors and consumers a great tool in the market.

Performance: Power-Packed Internals

Under the hood, this laptop packs a punch with the Qualcomm Snapdragon X Elite (45W) or Snapdragon X (28W), offering excellent power efficiency while delivering high-end performance. Paired with the Adreno GPU and the Qualcomm Hexagon NPU with 45 TOPS, it handles multitasking, AI workloads, and graphics-intensive applications with ease. From creative tasks like video editing to demanding software, the processing power here won’t disappoint.

The Snapdragon® X series features a 4nm System-on-a-Chip architecture with up to 12-core Qualcomm Oryon™ CPU for demanding workloads and speedy responsiveness. The integrated Qualcomm® Adreno™ GPU delivers stunning graphics for immersive entertainment. The Snapdragon X series supports this supercharged performance with low power consumption for up to multi-day battery life on a single charge.

Memory options go up to 32 GB of LPDDR5X RAM, ensuring smooth performance even during heavy multitasking or resource-intensive applications. When it comes to storage, the laptop offers up to 1TB PCIe 4.0 NVMe SSD, which guarantees quick read and write speeds, reducing load times and enhancing overall system responsiveness.

The laptop’s onboard memory allows for a thinner and lighter chassis, and it still provides up to 32 GB capacity and fast 8533 MHz LPDDR5X clock speeds to provide plenty of processing power.

Camera and Audio: Ready for Work and Play

The ASUS AI camera with FHD 3DNR IR ensures excellent video quality even in less-than-ideal lighting conditions, making it perfect for virtual meetings. The built-in array microphone and Dolby Atmos® sound system further enhance the experience, delivering clear audio during calls and an immersive sound experience for entertainment.

Connectivity: Cutting-Edge Features

For connectivity, the laptop comes with Wi-Fi 7 and Bluetooth 5.4, ensuring lightning-fast internet and seamless device pairing. There’s no shortage of I/O options, with 2 x USB4 Type-C (with full-range charging), 1 x USB 3.2 Gen 2 Type-A, HDMI 2.1, and a 3.5mm audio jack. These ports cover all your needs for data transfer, external displays, and audio peripherals. The two USB4 ports support up to 40 Gbps data bandwidth each and can be used for external 4K display, storage devices, or expand connections.

Battery Life: All-Day Performance

The laptop’s 70 Wh lithium-polymer battery is a beast. One can work for hours on end without worrying about charging. For the 8 hours we were at a conference and the 2 extra hours after the conference we didn’t need to plug it in. The fast-charging AC adapter (65W/90W) ensures you can quickly top up when needed, making this laptop suitable for those who are constantly on the move.

ASUS Copilot+ PC

The ASUS Copilot+ PC is powered by the Qualcomm Snapdragon X processor which is capable of delivering an impressive 45 TOPS (trillion operations per second) of NPU performance, great for AI. Copilot+ AI features of Windows 11 24H2 include Copilot in Windows, Live Captions, Recall, Cocreator, Generative Fill and Erase in Paint, Click to Do, Restyle Image, Image Creator, Super-resolution in Photos, Windows Studio Effects V2, and Improved Windows Search.

Our Take

Overall, this is a great laptop for performance, portability, and design. The Qualcomm Snapdragon X Elite platform and Adreno GPU handle just about anything and offer excellent battery life and connectivity options. The vibrant OLED display and Dolby Atmos® audio round off an excellent multimedia experience. We loved it for games, work, and multimedia entertainment. With a sleek design and future-proof features, it’s a top contender for anyone looking for a high-end, portable machine and we gave it a 9/10 due to the lack of touch or input design.

Pre-order the laptop: https://www.asus.com/ea/laptops/for-home/zenbook/asus-zenbook-a14-ux3407/?utm_source=techmoran&utm_medium=pr&utm_campaign=25q1_ux3407_ke&utm_content=article

Lipa Later Placed Under Administration Amid Financial and Legal Challenges

Sam Wakoba
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Lipa Later Placed Under Administration Amid Financial and Legal Challenges

Lipa Later, a Kenyan Buy Now, Pay Later (BNPL) company, has been placed under administration due to financial difficulties. Creditors have until April 23, 2025, to submit their claims to the appointed administrator, who is engaging with key stakeholders to achieve the best possible outcome for the company.

Financial Struggles and Legal Challenges

The financial troubles facing Lipa Later have been unfolding over time. In December 2024, Africa Foresight Group Limited filed an insolvency notice against the company, seeking payment of USD 13,516 for services rendered. The court reviewed arguments from both parties regarding the statutory demand and the alleged breach of contract, adding to Lipa Later’s mounting legal and financial pressures.

Prior to its placement under administration, the company had been actively raising capital to expand its operations. In September 2023, Lipa Later successfully closed a KES 500 million privately placed debt issuance, strengthening its efforts to provide innovative financing solutions. At the time, the company had also announced plans to raise an additional KES 2 billion in equity and debt to support its growth and enhance financial inclusion across urban Africa.

Expansion Efforts and Key Partnerships

Despite its current financial challenges, Lipa Later has made several strategic moves in recent years. One of its major acquisitions was Sky.Garden, an e-commerce platform, which it purchased in December 2022. The acquisition allowed Lipa Later to expand its BNPL model by integrating Sky.Garden’s digital marketplace, giving customers access to a wide range of sellers and installment-based payment options.

In August 2023, Lipa Later also partnered with Mastercard to accelerate the expansion of BNPL payment services across Africa. This collaboration aimed to unlock new opportunities for consumers and merchants by providing more flexible BNPL solutions and enhancing payment infrastructure in the region.

Retail Collaborations and Consumer Offerings

Lipa Later has worked with multiple retailers to bring BNPL solutions to customers. In November 2021, the company collaborated with Carrefour to launch LipaVismart, an installment payment plan that allows customers to buy Carrefour products, including electronics, furniture, home appliances, and everyday consumer goods, and pay for them over time.

Read more on TechMoran

Beyond partnerships, Lipa Later has also focused on enhancing its workplace policies. In March 2022, the company announced a six-month paid maternity leave for all employees, making it one of the few startups in Kenya to implement such a policy. This move was part of its broader initiative to create a more inclusive and gender-balanced work environment.

The Road Ahead

Lipa Later’s journey, from securing major investments and forming strategic partnerships to facing financial distress and legal battles, highlights the volatility of the fintech sector. With the company now under administration, stakeholders will be watching closely to see whether it can restructure its operations, settle debts, and regain stability.

For now, creditors are expected to submit their claims before the April 23, 2025, deadline as the appointed administrator works to determine the next steps for the once-prominent BNPL startup.

Airtel Money Partners with Google to Offer Seamless Payments on Google Play 

Ronald Bwire
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Airtel Money Partners with Google to Offer Seamless Payments on Google Play 

Airtel Money customers can now conveniently and securely pay for a wide range of applications on Google Play Store directly through their Airtel Money wallets, thanks to a strategic partnership between Airtel Money and Google.

This partnership enables Airtel Money users to make payments for a variety of applications on Google Play, providing a streamlined, affordable, and secure payment for their favourite online applications. Additionally, it exemplifies how Airtel Money has continued to distinguish itself in the mobile money landscape through several Unique Selling Propositions that enhance the user experience and offer competitive fees, significantly enhancing customer value.

Notably, Airtel Money is currently the only Mobile Money wallet integrated on Google Play Store. Customers using Airtel Money when making payments on the Google Play app will enjoy zero transaction costs.

Commenting on the partnership, Mrs. Anne Kinuthia-Otieno, Managing Director Airtel Money, said:

“We are very excited today to launch our partnership with Google – one of the worlds most renowned brands, giving our customers access and convenience to their preferred applications on the Google platform.  This collaboration affirms Airtel Money’s brand promise as a trusted, reliable, and innovative payment platform that is always evolving to meet customer needs. The collaboration underscores Airtel Money’s expanding presence in the payments landscape, offering customers even more versatile services at an international scale.”

“We are pleased to introduce Airtel Mobile Money to users making purchases on the Google Play Store in Kenya,” said Kevin McDaid, EMEA Payment Partnerships at Google. “This integration underscores Google’s commitment to providing accessible, localised solutions.”

Airtel Money’s subscriber base continues to grow steadily driven by a commitment to offer enhanced value through strategic partnerships, enhanced customer value and affordable prices, ensuring Airtel Money’s increasing availability across multiple platforms.

Nigerian Fintech Payhippo Secures $4 Million | Rebrands as Rivy

James Musoba
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Nigerian Fintech Payhippo Secures $4 Million | Rebrands as Rivy

Payhippo, a Nigerian fintech startup has rebranded itself as Rivy and raised $4 million, in a new move towards financing solutions for clean energy across Africa.

Rivy will address Africa’s energy access challenges by facilitating financing for solar energy vendors, micro-grid projects, and sustainable businesses.

A Strategic Rebrand: Payhippo Becomes Rivy

Founded in 2019, Payhippo initially focused on offering short-term loans to small and medium-sized enterprises (SMEs) in Nigeria. The company built a strong reputation for providing fast and accessible credit to businesses often overlooked by traditional financial institutions. However, as Africa’s demand for renewable energy solutions surged, the fintech firm saw an opportunity to leverage its expertise in lending to support the clean energy transition.

Rivy’s transformation represents a broader commitment to sustainability. The new brand encapsulates the company’s expanded vision of financing clean energy solutions that can drive economic growth while mitigating environmental impact. The company will focus on enabling access to energy through tailored financial products that support businesses, communities, and individuals seeking to adopt renewable energy technologies.

$4 Million Funding Boost

To facilitate its new direction, Rivy has successfully raised $4 million in funding. While the company had previously secured a total of $4 million in pre-seed and seed funding rounds by November 2021, this latest investment aims to specifically bolster clean energy financing efforts. The funding will be deployed to:

  • Inventory Financing for Solar Vendors: Providing working capital to solar distributors to expand their reach and stock more energy-efficient products.
  • Asset Financing for Individuals and Businesses: Enabling consumers and small businesses to purchase solar panels, batteries, and other renewable energy solutions through affordable financing options.
  • Micro-Grid Financing for Community Projects: Supporting the development of decentralized energy grids to bring power to off-grid and underserved communities.
  • Carbon Finance Solutions: Facilitating carbon credit generation and trading to create incentives for businesses and individuals adopting clean energy solutions.

This funding round reflects growing investor confidence in fintech-powered sustainability solutions, as well as the increasing recognition of clean energy financing as a critical driver of Africa’s economic development.

Tackling Energy Access Gaps in Africa

Africa faces a significant energy deficit, with over 600 million people lacking access to electricity. Traditional banking institutions have often been slow to offer financing solutions tailored to clean energy adoption. Rivy aims to bridge this gap by offering flexible and innovative financial products that enable businesses and individuals to transition to renewable energy sources affordably.

The company has already taken steps in this direction. Under its former identity as Payhippo, it organized the “Payhippo Solar Expo: Financing the Solar Ecosystem,” an initiative designed to connect entrepreneurs with financing solutions for renewable energy investments. With its rebrand and new funding, Rivy plans to scale such initiatives and drive broader adoption of clean energy solutions.

The Future of Rivy in Fintech and Clean Energy

With its renewed focus, Rivy is poised to play a crucial role in shaping Africa’s financial and energy landscape. The company plans to expand its reach beyond Nigeria, tapping into other African markets where energy access remains a challenge. Additionally, partnerships with clean energy providers, carbon credit markets, and impact investors will be key to scaling its financing solutions.

As fintech continues to evolve, Rivy stands out as a trailblazer in the convergence of financial technology and sustainability. By leveraging digital lending platforms, data analytics, and strategic partnerships, the company is well-positioned to drive financial inclusion and energy accessibility across the continent.

The transition from Payhippo to Rivy is more than just a name change—it represents a commitment to empowering businesses and communities with the financial tools needed to build a cleaner and more sustainable future for Africa.

GSMA Elects Bharti Airtel’s Gopal Vittal as the New Chairman

James Musoba
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GSMA Elects Bharti Airtel’s Gopal Vittal as the New Chairman

GSMA has elected Gopal Vittal – Vice Chairman & MD, Bharti Airtel, as its new Chairman, until the end of 2026. Gopal is currently the acting Chair of the GSMA board.

In his role as the Chairman, Gopal will oversee the strategic direction of the GSMA. The members of this prestigious body include 1000 telecom companies from around the world, handset and device companies, software companies, equipment providers, internet companies, as well as organizations in adjacent industry sectors. Gopal becomes the second Indian after Sunil Bharti Mittal to be elected as the Chairman of the GSMA Board.

The appointment also highlights the significant influence Airtel has in the global telecom industry, with both Sunil Bharti Mittal and Gopal Vittal having held key positions on the GSMA Board for years.

Taking on the role, Gopal Vittal said “I am honoured to be elected as the Chair of the GSMA Board. The mobile industry contributed $6.5 trillion to the global economy in 2024 and is the spine on which much of the innovation in the world is built. The GSMA, as a global organisation unifying the mobile ecosystem, is fundamental to discover, develop and deliver innovation that impacts positive change for all. I look forward to working closely with the GSMA team and the rest of the Board to continue this important work “

Gopal has served on the GSMA Board in different capacities for over a decade including as Deputy Chair for the last three years. Most recently, he was also appointed the Acting Chair of the GSMA board in early 2025 and has now been formally elected as the Chair of the GSMA board. Gopal will serve as the Chair of the Board until the end of 2026. The GSMA Board will announce the election of a new Deputy Chair in due course.

Gopal Vittal is currently the Vice Chairman and Managing Director of Bharti Airtel and is also a Board member of Bharti Airtel Limited, Airtel Africa PLC and Indus Towers. Prior to this, he was the Managing Director & CEO for Airtel for 12 years.

Mats Granryd, Director General of the GSMA, commented: “I have worked with Mr. Vittal for many years and am delighted that he has been appointed Chair of the GSMA Board. His knowledge and experience makes him very well positioned to lead the Board and the industry through the current challenges and opportunities, including how to leverage AI and complete 5G for new business models and revenues streams.”

NCBA Disburses Over KES 1 Trillion in Digital Loans, Posts KES 21.9 Billion in Profits

Sam Wakoba
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NCBA Disburses Over KES 1 Trillion in Digital Loans, Posts KES 21.9 Billion in Profits

NCBA Group PLC has posted a profit after tax of KES 21.9 billion in its FY 2024 financial results which is a 2.0 per cent increase compared to KES 21.5 billion reported during a similar period in 2023. 

The Group`s role in driving financial inclusion through partnerships for over 60 million customers across Africa has seen NCBA cross the KES 1 trillion mark on digital loan disbursements. Non-performing loan (NPL) ratio stands at 11.2 per cent reflecting disciplined credit underwriting, proactive portfolio monitoring, and strong customer engagement strategies. Impairment coverage stands at 60 per cent, and the Group remains well-capitalized with sufficient provisions. 

NCBA disbursed KES 1.0 trillion in digital loans, 23 per cent increase year on year and saw a profit after tax of KES 21.9 billion, 2.0 per cent up year on year. The Group’s profit before tax stood at KES 25.1 billion, 1.0 per cent down year on year. The firm saw an operating income of KES 62.7 billion, 1.5 per cent down year on year.

Operating expenses of KES 32.2 billion,10.6 per cent up year on year and its provision for credit losses stood at KES 5.5 billion, 40 per cent down year on year. Customer deposits were KES 502 billion, 13.4 per cent down year on year and its assets reached KES 666 billion, 9.3 per cent down year on year while its final dividend KES 3.25 per share (KES 5.50 Total for 2024).

“We are pleased to announce our Full Year 2024 financial results which reflect the resilience of our diversified business model. The underlying trends of our P&L remained solid while our cost increase of 10 per cent was driven by targeted investments in digital transformation, network expansion and operational efficiency which have positioned us for long-term growth. Amidst ongoing external headwinds, NCBA’s strategic imperatives have enabled us to deliver shareholder value,” remarked Mr. John Gachora, NCBA Group Managing Director. 

The Group`s regional subsidiaries in Uganda, Tanzania, and Rwanda delivered a combined profitability of KES 3.2 billion, 7 per cent up year on year; while the combined non-banking subsidiaries including the Investment Bank, Bancassurance, Leasing and Insurance recorded a 36 per cent year on year significant growth contributing KES 1.2 billion to Group profitability. 

The Group through its smart network roll out enabled customer access to superior services reaching 119 branches across the region with 10 new locations in Kenya, Rwanda and Uganda. Additionally, through the Kenya business agency banking partnership with Postbank, 476 agents and 96 branches country-wide were onboarded while the diaspora banking team scaled the Global customer footprint in Australia, Middles East and USA.

NCBA retained its Asset Finance Leadership with a market share of 35 per cent driven by product innovation and scheme agreements with several vehicle dealers including Isuzu, CFAO, Simba and Inchape. The Group`s Corporate Banking position with a deposit base of KES 210 billion is expected to strengthen with a revamped internet banking platform.

NCBA`s insurance subsidiary (formerly AIG Kenya) rebrand last week signifies successful integration into the NCBA Group PLC family. The new brand will leverage on the strengths of NCBA and become more competitive with amplified positioning in the market.

Looking ahead, Gachora remarked, “We continue to tighten credit risk management, enhance recovery efforts, and refine our lending strategies to maintain a healthy loan book. We remain focused on driving efficiency, deepening customer relationships, and leveraging digital channels for sustainable growth.”

KCB Acquires Kenyan Fintech Firm Riverbank Solutions

Ronald Bwire
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KCB Acquires Kenyan Fintech Firm Riverbank Solutions

KCB Group is set to acquire up to 75 percent shareholding in financial technology firm, Riverbank Solutions to strengthen KCB Group’s distribution network across the region.

Riverbank is not KCB Group as it has been providing the bank with Agency Banking Solution since 2013 via its Zed 360 platform.

The transaction is subject to regulatory approvals from, amongst others, the Central Bank of Kenya.

The deal will boost the Group’s digital capabilities, by bringing on board Riverbank’s footprint in banking agency, social payments and business solutions. Riverbank has presence in Kenya, Uganda and Rwanda.

The acquisition will see KCB tap into Riverbank’s capabilities in payment ecosystems and non-banking offerings including capability building, networks and marketplace solutions.

Through Riverbank’s technology platform, ‘Zed 360’, KCB will provide its SME and MSME-customers with business management tools such as inventory management, financial reporting and payroll management which will ease their financial operations, enhance visibility and empower- informed decision making for both the customer and the Bank. Riverbank also offers three other solutions namely Swipe platform for agency banking services, Zizi for revenue collection and CheckSmart for social payments.

Once the transaction is completed, Riverbank will become a subsidiary of KCB Group Plc.

“We are actualizing new digital capabilities to deliver customer-centred value propositions through technology to guarantee seamless, reliable, secure, and innovative solutions for our customers. Across the region, payments are expected to have the fastest growth, suggesting an opportunity to innovate. That’s why we have made this strategic acquisition to enable us offer a full stack of solutions. This is a great opportunity to maximize value for our shareholders in the long-term while strengthening the competitive position for the Group,” said KCB Group CEO Paul Russo.

The acquisition is part of an ongoing strategy by KCB to increase innovation of digital MSME offerings, focusing on seamless transaction and payment services, instant digitized lending, provision of business management tools and offering non-banking solutions such as business training and marketplace presence for our customers. The transaction will help the Group accelerate its strategy to interconnect with partner platforms and fintechs to offer services such as virtual wallets and payment APIs.

This will see KCB consolidate its agent banking channels into one platform.

According to the latest financials released earlier this month, KCB Group Plc profit after tax for the full year 2024 grew by 64.9% to KShs. 61.8 billion, accelerated by strong topline expansion across all businesses. This was a rise from KShs. 37.5 billion reported a similar period last year. The Group’s balance sheet closed the year at KShs.1.96 trillion, funded by a strong deposit franchise and stable loan portfolio, despite the tough operating environment.

On the technology front, we continued to create a simple, more agile, and digitally led bank, achieving significant milestones such as establishing a Digital Centre of Excellence, upgrading core banking systems at BPR and NBK, and innovative product rollouts like digital term loans for MSMEs and the Worship 360 App for faith-based organizations. These advancements enable us to better serve our customers while enhancing operational efficiency.

Samsung Expands Language Support to Include Kiswahili and Amharic

Brand Voice
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Samsung Expands Language Support to Include Kiswahili and Amharic

Samsung has expanded language support on its devices to include Kiswahili and Amharic, strengthening its commitment to inclusivity and accessibility for users in East Africa and beyond.

With the addition of Kiswahili and Amharic, Samsung continues to lead the way in providing localized solutions that make technology more accessible. This latest update enables more users to navigate Samsung devices in their preferred language, ensuring seamless interaction and improved usability.

“Samsung Electronics is committed to innovation that empowers communities. By adding Kiswahili and Amharic language support, we are taking a significant step toward bridging the digital divide and fostering greater inclusion,” said Anthony Hutia, Head of the Mobile Experience Division at Samsung Electronics East Africa.

This language expansion aligns with Samsung’s broader mission to make technology user-friendly for everyone, regardless of linguistic background. Users can now enjoy a more personalized experience, enhancing communication and engagement with Samsung’s world-class products.

You can change the language and input settings on your Samsung Galaxy phone by following these steps:

To Change the System Language:

  1. Open Settings – Tap the Settings app on your phone.
  2. Go to General Management – Scroll down and select General Management.
  3. Tap Language & Region – Select Language.
  4. Add a Language – Tap Add language, then choose the desired language from the list.
  5. Set as Default – After selecting the language, tap Set as default or move it to the top of the list.
  6. Enjoy– Experience Kiswahili language and input on your device

To Change Keyboard Language and Input:

  1. Open Settings – Tap Settings.
  2. Go to General Management – Select General Management.
  3. Tap Samsung Keyboard Settings – Select Samsung Keyboard under Keyboard list and default.
  4. Manage Input Languages – Tap Languages and types, then Manage input languages.
  5. Download and Enable a Language – Choose your desired language from the list and download it if needed.
  6. Switch Between Languages – When typing, press and hold the spacebar or tap the globe icon to switch between languages.

NCBA hosts over 100 women entrepreneurs’ in Kapsabet for an empowerment dinner

Brand Voice
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NCBA hosts over 100 women entrepreneurs’ in Kapsabet for an empowerment dinner

NCBA last evening hosted an exclusive dinner at Allen Hotel, Kapsabet, Nandi County, to reaffirm its commitment to supporting women entrepreneurs and strengthening stakeholder relationships.

Nandi County’s economy is largely driven by agriculture, with key sectors including largescale tea, maize and dairy farming. The county has experienced steady economic growth, with revenue increasing by 12.5% from KSH 356.1 million in FY 2022/2023 to KSH 600.2 million in FY 2023/2024. The county’s growth is accredited to advancements in revenue collection systems, automation of key revenue streams, and the expansion of trade and investment initiatives.

NCBA Deputy Director and Head of Branches, Jane Ng’ang’a stated, ‘At NCBA, we are keen to work with Nandi County for the advancement of businesses in the region. We recognize the resilience and ambition of women entrepreneurs and are committed to accelerating financial inclusion. Through tailored financial solutions, strategic partnerships, and business education programs, we ensure that women-led businesses have access to the resources, knowledge, and networks needed to thrive. NCBA is here to walk with you on your business journey towards your growth and success.”

The Department of Trade, Investment, and Industrialization continues to play a vital role in fostering economic development, with targeted funding to support SMEs and enhance business opportunities across the county.

The dining session, themed “Supporting women, Inspiring futures”, was part of NCBA’s International Women’s Month celebrations. The engagement featured discussions on access to credit, innovative financial solutions, and the role of financial institutions in addressing the systemic challenges that hinder the growth of women-owned businesses in the region. e

The event highlighted NCBA’s financial solutions offerings that can empower women to grow their businesses. Panellists discussed how trade finance, asset funding, and financing opportunities could enable women-run businesses to grow and thrive. The session also touched on the importance of agriculture business opportunities, emphasising the importance of cooperatives, dairy groups, and farming enterprises to the local economy.

“We are thankful to NCBA for organising this forum for its customers. As a leader, I recognise the importance of women-owned businesses in driving the county’s economic development,” said Dr. Yulita Chebotip Mitei, Deputy Governor, Nandi County. “Our goal is to explore partnerships with financial institutions that address their unique needs and unlock growth opportunities for the people of Kapsabet,” she added.

As NCBA expands its reach in the country, events like these present an opportunity to connect with local businesses, understand their problems, and co-develop solutions that will lead to sustainable growth.

Nine Kenyan Startups Get Safaricom Spark Accelerator Funding

James Musoba
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Nine Kenyan Startups Get Safaricom Spark Accelerator Funding

Nine Kenyan startups have received backing from the Safaricom Spark Accelerator Program, after pitching at an investor demo day organized by the accelerator to help them showcase their milestones and connect with prospective investors.

The start-ups who include Health X Africa, Vunapay, BlackRhino VR, Twiva, Chpter, Churpy, Nobuk Africa, Faidi HR and Chumz represent the future of Embedded Finance, SME Productivity Tools, Digital Content, Healthcare, and Future Fintech.

“At Safaricom, we believe technology is a catalyst for change and solutions, and that’s why we incentivize and support innovative start-ups with the tools they need to reach the next level. With the Spark accelerator program, we are investing in our future leaders while contributing to significant societal change and economic growth,” said Safaricom CEO, Dr Peter Ndegwa.

The nine startups were part of the inaugural cohort of the accelerator program to enable them raise funding from leading venture capital funds

The Safaricom Spark Accelerator program is a partnership with Sumitomo Corporation and M-PESA Africa that aims at accelerating early stage startups to grow and scale their businesses. Other  partners include iHub who are the implementing partner and AWS, Vodacom and PwC as supporting partners.

Safaricom, Sumitomo Corporation and M-PESA Africa also announced calls for application for early-stage startups in technology, fintech, creative economy and those scaling SME productivity tools to join the second cohort will open on April 1st 2025 to 15th May 2025.

This will offer an opportunity for more start-ups to benefit from capacity building and training, bespoke product development and technology support, access to market opportunities and access to capital. 

The Spark Accelerator program was launched last year following the restructuring of Safaricom’s Spark Venture Fund. The program is committed to fostering transformative growth within Kenya’s tech ecosystem by supporting early-stage start-ups.

Swedfund invests €15 million into AfricInvest

Ronald Bwire
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0
Swedfund invests €15 million into AfricInvest

Swedfund has committed EUR 15 million to the AfricInvest Small Cap Fund, a private equity initiative focused on supporting small and medium-sized enterprises (SMEs) across Africa.

SMEs are a cornerstone of economic development, driving job creation and innovation. However, many companies face significant barriers to accessing capital. This indirect investment can enable more growth-oriented investments to unlock the full potential of SMEs in Africa.

According to Sofia Gedeon, Investment Director for Sustainable Enterprises at Swedfund and continues, “This investment will allow Swedfund to expand its support for underserved businesses across Africa. AfricInvest aligns its investments with measurable sustainability outcomes, allowing us to drive economic growth, create jobs and promote greater inclusion. At the same time we set new benchmarks for responsible investing.”

Gedeon added that with decades of experience and a strong presence across the continent, the fund aims to invest in a range of sectors including agribusiness, healthcare, education, consumer goods, manufacturing and services, and is therefore well positioned to contribute to economic growth and social development.

AfricInvest integrates environmental, social and governance (ESG) principles with a focus on gender equality and sustainability. The fund aims to invest at least 30 percent of its portfolio in companies that are women-led or have significant female ownership. Moreover, climate-related objectives will be embedded in the investment process. Swedfund’s support will help ensure that African SMEs have the resources and guidance they need to grow responsibly and effectively.

NCBA Rebrands AIG Kenya to NCBA Insurance After Full System Integration

Sam Wakoba
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0
NCBA Rebrands AIG Kenya to NCBA Insurance After Full System Integration

NCBA Group has unveiled NCBA Insurance, its new insurance subsidiary after completing system migration and integration of AIG Kenya which it acquired in July 2024.

NCBA Insurance Company, joins NCBA’s six other subsidiaries and will leverage on the strengths of NCBA, a well-known and respected financial services brand in Kenya and Africa.

Speaking during the brand unveil, John Gachora, NCBA’s Group Managing Director, said, “NCBA-IG will now become more competitive with amplified positioning in the market and inspire growth as a trusted insurance solutions partner to deliver on the Group`s customer obsession mission focus for 2025.”

Dubbed as NCBA-IG (NCBA- Insurance Group), the firm says the rebrand signifies the successful integration of NCBA Insurance Company into the NCBA Group PLC family. Kenya’s insurance industry, valued at KES 309 billion in 2023 and continues to grow at a compound annual growth rate (CAGR) of 10%, NCBA-IG aims to take a substantial market share of this.

The general insurance market alone was valued at KES 188 billion (approximately $1.3 billion) in 2023 and is expected to achieve a CAGR of more than 9% during the period from 2024 to 2028. This growth highlights the increasing demand for insurance products, with more Kenyans recognizing the need for financial security. NCBA-IG is positioned to capitalize on this expanding market, offering innovative, customer-centric insurance solutions to increase market penetration.

The firm says the transformation into NCBA-IG (NCBA- Insurance Group) reflects the Group’s ongoing strategy to diversify its offerings and expand its reach in key markets and it will continue to introduce innovative insurance solutions and drive deeper financial inclusion across the region.

“Being part of NCBA has significantly enhanced our ability to deliver exceptional products and services to a wider set of customers. The strength of the NCBA brand and its deep local market history will empower us to provide relevant products and services for our customers. With this new brand identity, we are set to drive better understanding of insurance products, demonstrate value for our customers, and accelerate our growth within the insurance sector.” said Stella Njunge, Managing Director of NCBA Insurance Company.

Yango Group Launches Yango Ventures, a $20M Fund for Startups

Ronald Bwire
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0
Yango Group Launches Yango Ventures, a $20M Fund for Startups

Yango Group, an UAE-based tech firm, which runs ride hailing and related services in the UAE, Africa and other emerging markets, has launched Yango Ventures, a $20 million corporate venture fund to invest in promising startups across LATAM, Sub-Saharan Africa and MENAP.

Yango Ventures aims to foster local innovation and entrepreneurial growth by providing both capital and leveraging its extensive experience and network, creating opportunities for startups to scale effectively.

According to Daniil Shuleyko, CEO of Yango Group, “Through Yango Ventures, we’re sharing our expertise and network to help startups scale, thrive, and drive meaningful change in their communities. Our mission is simple: let people grow with us. By supporting local talent with the right tools and resources, we aim to foster sustainable business growth and contribute to resilient, inclusive economies across the globe.”

Yango Ventures focuses on early-stage startups, from Seed to Series B, in the O2O (Online-to-Offline), B2B SaaS, and FinTech sectors. While it starts with an initial fund of $20 million, the corporate venture fund is designed for scalability, with plans to expand its capital base in the near future alongside the growing entrepreneurial ecosystems in dynamic, high-growth markets.

The ventures arm comprise a diverse team with deep expertise in transforming B2B SaaS and B2C technology into impactful services across various industries worldwide. The team has successfully developed and scaled platforms and products in sectors such as mobility, entertainment, fintech, AI, and beyond, both within the company and externally.

Yango Ventures is part of Yango Group‘s broader strategy to empower entrepreneurs and drive digital transformation globally. Across different regions, the group organises networking events for professionals to exchange ideas, partner with educational institutions and host events that give future innovators practical skills. 

KOKO Raises Financing from Mirova to Scale its Climate Technology Across Kenya & Rwanda

Ronald Bwire
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0
KOKO Raises Financing from Mirova to Scale its Climate Technology Across Kenya & Rwanda

KOKO, a Nairobi-based climate technology startup has raised debt financing from Mirova to scale its residential energy utility across Kenya and Rwanda.

KOKO will use the carbon finance debt facility from Mirova Gigaton Fund to scale up a new type of residential energy utility across Kenya and Rwanda, in line with the fund’s objective to accelerate access to renewable energy in emerging markets. Mirova, is an affiliate of Natixis Investment Managers dedicated to sustainable investing.

According to Greg Murray, CEO & Co-Founder at KOKO: “We are pleased to have an asset manager of Mirova’s calibre on board to support our continued impact. Solving the charcoal curse is one of the grand challenges of development, and leveraging compliance carbon markets to enable a non-government consumer energy subsidy is an idea whose time has finally arrived. We look forward to working together with the Mirova team for the long term.”

In sub-Saharan Africa, more than 850 million people depend on firewood and charcoal for cooking. By 2030, it is projected that 2.2 billion people will still rely on inefficient and polluting energy sources for cooking, primarily in Asia and sub-Saharan Africa. These cooking methods release harmful pollutants, worsening the climate crisis and causing 3.7 million premature deaths each year due to smoke inhalation and indoor air pollution, disproportionately affecting women, children, and those in sub-Saharan Africa. A continent-wide energy transition toward clean and modern fuels is crucial to solving this problem.

KOKO aims to lead this transition, replacing demand for charcoal by supplying over 1.3 million homes in Kenya and Rwanda with sustainable bioethanol cooking fuel distributed through a dense network of high-tech KOKO Fuel ATMs located in thousands of corner stores. The resultant carbon revenues are shared with households as a non-government energy subsidy, enabling even the poorest households to switch.

The Mirova Gigaton Fund’s investment for KOKO aligns with its objectives to positively impact people’s lives and addresses a range of the Sustainable Development Goals, specifically by scaling clean energy access, protecting forests and reducing emissions, improving family health, and building sustainable infrastructure.

John Kimotho, Investment Director at Mirova Kenya Ltd: “We are proud to support KOKO’s transformative bioethanol cooking fuel technology platform, which aligns perfectly with the Mirova Gigaton Fund’s focus on innovative solutions to tackle climate challenges in emerging countries. This investment aims to not only reduce emissions from cooking but also combat deforestation by decreasing dependence on charcoal. Through this partnership, we are advancing scalable, sustainable solutions for a greener future.”

KOKO operates urban bioethanol cooking fuel utilities in Kenya and Rwanda supplying mass-market households with ultra-clean fuel and replacing demand for dirty fuels such as deforestation-based charcoal. Compliance carbon markets are used to provide a non-government energy subsidy, enabling even the poorest households to transition.

KOKO was founded in 2014, is backed by a wide range of environmental investors including Microsoft’s Climate Innovation Fund, and was recognized by FT/IFC in 2021 as the world’s leading emerging markets climate technology solution.

Royal Academy of Engineering Shortlists 16 Startups for its 2025 Africa Prize for Engineering Innovation 

James Musoba
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Royal Academy of Engineering Shortlists 16 Startups for its 2025 Africa Prize for Engineering Innovation 

Royal Academy of Engineering has shortlisted 16 ventures for its 2025 Africa Prize for Engineering Innovation after a rigorous process of sieving applications received from a record 30 countries. 

Launched in 2014 by the Royal Academy of Engineering, the Africa Prize for Engineering Innovation, has supported 149 businesses from 22 African countries with invaluable training, mentoring, and communication resources, employing over 28,000 people and benefitting more than 10 million people.

The 16 shortlisted candidates for the 2025 Africa Prize, now in its 11th year, have each been selected for their innovative solutions designed to solve critical environmental, educational and health challenges to transform their communities. 

According to Rebecca Enonchong, CEO of AppsTech and Africa Prize judge, “I am delighted to welcome these entrepreneurs to the Africa Prize community and look forward to following their journey as they develop their engineering solutions over the next few months.” 

Once shortlisted for the Africa Prize, innovators will benefit from a comprehensive package of support designed to accelerate their businesses. This includes an eight-month training programme that covers key business skills, comprising financial management and market analysis to help the innovators turn their ideas into market ready ideas. Involvement in the Prize also includes access to expert business, technical, and sector-specific engineering mentoring and connecting the shortlisted candidates to the Academy’s extensive network of engineers and business leaders across the UK and Africa. 

Innovators are invited to submit a second application during their training programme, when the Prize’s panel of judges will select four finalists to move through to the final event, to be held in Senegal in October this year. 

The winner of the Africa Prize will receive £25,000, with three runners up awarded £10,000 each. The audience at the award ceremony will also vote on the winner of the ‘One-to-Watch’ award for the most impactful pitch, who will receive £5,000. All shortlisted candidates will become part of the Africa Prize Alumni of over 150 innovators, which offers access to exclusive opportunities for funding, development, and support. 

Applications for Cycle 12 of the Africa Prize will open in early July, closing in mid-September. The programme will use a two-stage application process for the first time to streamline the process for both applicants and reviewers. Applicants should apply within this initial period to have a chance of being considered for the 2026 shortlist. 

Shortlisted innovations and entrepreneurs:   

  • Aquamet, developed by Frank Owusu in Ghana, is a device that monitors the quality of water in local fisheries sending real time notifications to the farmers’ mobile phone to ensure higher yields. 
  • Autothermo, designed and created by Nura Izath in Uganda, is an innovative bracelet-like device worn by newborns that monitors and transmits real time data to carers such as temperature, fever and respiratory issues via an intuitive emoji system.  
  • Community Kitchens Powered by Renewable Energy created by founder Peter Njeri in Kenya, re clean cooking community kitchens   that use a new, alternative clean cooking gas made from plastic waste.  
  • E-Safiri, founded by Carol Ofafa in Kenya, is championing the adoption of electric mobility by expanding charging stations and battery swapping points nationwide, harnessing both renewable and grid energy.  
  • Eco Plastic Wood, is a solution by Edgar Edmund Tarimo in Tanzania, converting discarded plastic waste into high quality lumber and furniture.  
  • Eco-Plates, created by Rui Bauhofer in Mozambique, are disposable plates made from recycled maize husks that are fully bio-degradable and infused with seeds that will germinate and grow once discarded.   
  • FarmBot is the brainchild of Sam Kodo in Togo – an autonomous robot that can monitor crop health and plant growth whilst detecting any pests and gathering soil data, all shared with farmers in real time.  
  • FreshPack, created by Editha Mshiu in Tanzania, is a cold storage solution that was inspired by human skin and is made from phase change materials, ensuring that produce can be stored and kept fresh for longer without the need for electricity.  
  • Hybrid Solar Dryers, designed by James Nyamai in Kenya, are agricultural dryers powered by biofuels as well as solar for all weather conditions to reduce losses during the rainy season.  
  • Mkanda Salama, created by medical student Paschal Kija in Tanzania, is a massaging device designed to be worn around the abdomen to manage post-partum haemorrhaging and reduce maternal death rates.
  • Neo Nest, designed by Vivian Arinaitwe in Uganda, is a neonatal warming and monitoring device that relays key health indicators of a newborn in real time to medical professionals to prevent neonatal deaths. 
  • Play and Learn Web App, developed by Chinelo Okafor in Nigeria, is an AI powered device that enhances digital skills and develops individual pathways for each user to improve digital training.
  • Smart Hive Device and Precision Pollination Technology, by Margaret Wanjiku from Kenya is an AI powered device that monitors key features within a beehive to combat bee colony collapse and boost crop yields.  
  • Smart Luku is a smart meter designed by Shabo Andrew in Tanzania, that allows individual tenants to measure and pay for their own electricity within a shared residence, with the option to share their electricity with other tenants.   
  • A Sustainable Agro-Tech Solution, by Ahmed Maruf from Nigeria, is an upscaling solution for scrap metal transformed into affordable agricultural and industrial machinery.   
  • TERP 360, created by Elly Savatia from Kenya, is an AI powered device that translates words into sign language in real time through an app offering greater inclusivity for deaf people. 

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