Latest posts
-
Kenya’s Competition Authority clears Cable Experts’ East African Cables deal
Kenya’s Competition Authority has approved Cable Experts’ acquisition of a 68.37 per cent stake in East African Cables, clearing a key regulatory hurdle in the proposed takeover of the indebted electrical-cable manufacturer. The approval, published in the Kenya Gazette on October 2, allows Cable Experts to acquire 173.07mn shares in East African Cables held by…
-
Old Mutual Kenya revamps savings products with 20-year terms, higher maturity values
Old Mutual Life Assurance Kenya has revamped its life and savings products, offering investment periods of up to 20 years, higher guaranteed maturity values and revised charges and surrender terms. The changes come as Kenyan households face difficulties maintaining long-term savings despite high access to formal financial services. Formal financial access reached 84.8% in 2024,…
-
Safaricom FTTH customers rise 35% to 407,080 as company takes Home Internet support to estates
Safaricom’s Fibre-to-the-Home (FTTH) customer base rose 35% to 407,080 in the year ended March 2026, as the telecom operator expands its fixed network and takes Home Internet support directly to residential communities. Safaricom recently held a Home Internet Clinic at Avenue Park Phase 1 in Embakasi, giving residents direct access to technical teams, customer support…
-
Safaricom and Pesapal Target Faster Digital Payments in Kenya
Safaricom and payments company Pesapal are expanding digital payment options for Kenyan merchants and consumers, introducing QR-code and contactless transactions through Pesapal’s point-of-sale terminals. The partnership brings Safaricom’s M-PESA platform together with Pesapal’s merchant infrastructure at the physical checkout, as the companies seek to reduce the steps involved in completing everyday payments. Under the new…
-
Luanda Emerges as Meeting Point for Africa’s Financial Leaders
Luanda will become the meeting point for Africa’s financial industry in November when more than 1,250 bankers, investors, regulators and policymakers gather for the annual Africa Financial Summit, placing Angola’s efforts to reshape its financial system at the centre of a wider debate over how the continent should finance its next phase of growth. The…
-
Yellow Card appoints former Monzo executive Ross Everett as CFO
African digital asset infrastructure company Yellow Card has appointed Ross Everett as group chief financial officer as it expands its stablecoin-based payments and treasury services internationally. Everett joins Yellow Card after a career spanning banking and financial technology, including a stint as group financial controller at British digital bank Monzo. He has also held roles…
-
Yellow Card named Diamond finalist in 2026 Money Awards
Stablecoin infrastructure company Yellow Card has been named a finalist in the Diamond category of the 2026 Money Awards, hosted by financial technology conference organizer Money20/20. Yellow Card was named alongside fintech companies including TerraPay, Bangladesh-based bKash and Abu Dhabi-based Wio Bank in the awards’ highest category. The company won the Grand Prix in the…
-
Absa Bank Kenya Launches Neo-Banking Platform Absa Next
Absa Bank Kenya launched a digital banking platform that combines savings, investments, credit and payments, as the lender seeks to expand its digital customer base and compete with fintech companies in one of Africa’s most advanced mobile-money markets. TechMoran is reporting that Absa Next is available to existing Absa customers and non-customers and allows users…
-
Absa to offer up to $2 million loans for Kenya cold storage firms
Absa Bank Kenya will provide loans of between $500,000 and $2 million to agricultural businesses investing in cold-storage infrastructure under a new financing arrangement with the United Nations Capital Development Fund (UNCDF) and the United Nations Development Programme (UNDP). The financing will target agricultural aggregators, equipment suppliers, exporters and other large businesses seeking to deploy…
-
Kenya signs AI cooperation deal with Anthropic on skills, research
Kenya has signed a cooperation agreement with Anthropic, the US artificial-intelligence company behind Claude, as the East African nation seeks to build local expertise and expand the use of AI in government and key industries. The agreement, signed in New York on Sept. 22 during the United Nations General Assembly, covers AI skills development, research,…