Microsoft is set to host the African Start-Ups Artificial Intelligence (AI) Fest on June 6 in Johannesburg. This hybrid event, led by Microsoft Africa president Lillian Barnard, will bring together technology company founders, leaders, start-up partners, and customers. Those unable to attend in person will be connected virtually, ensuring wide participation and engagement.
Emtel, the Indian Ocean telecoms giant, has officially gone public on the Stock Exchange of Mauritius (SEM). In a significant move, Emtel has opened up 25% of its shares to investors from South Africa, the United Kingdom, and Mauritius. This landmark Initial Public Offering (IPO) offers a unique opportunity for investors to be part of a leading telco’s future growth and success.
Visa has introduced a revolutionary suite of digital-first products and services aimed at transforming the payment landscape for businesses, merchants, consumers, and financial institutions. Announced at the annual Visa Payments Forum for Central and Eastern Europe, the Middle East, and Africa, these innovations are set to roll out over the coming year, promising enhanced convenience, security, and inclusivity.
President William Ruto has pledged Kenya’s substantial investment of USD 100 million (Ksh. 13.2 billion) over the next three years into the continent’s multilateral financial institutions. This investment is aimed at increasing Kenya’s shareholding in these institutions, signifying a strong vote of confidence in their potential and impact.
Kenya’s team participating in Huawei’s ICT Competition in Shenzhen, China, achieved remarkable success by securing victories in four award categories. The event, held from May 23–26, featured the highest number of Kenyan participants among the 16 teams from across the continent, showcasing Kenya’s talent on a global stage.
Absa Kenya has announced a remarkable 34% increase in net profit, reaching Sh5.9 billion for the period ending 31 March 2024. This significant growth underscores the success of the bank’s strategic focus on the retail market, as initially outlined in 2023. The retail banking model, targeting high-volume, low-margin operations for the low-income segment, has proven highly effective.
The Africa Banking Corporation (ABC) has taken a significant step towards environmental sustainability by joining the European Investment Bank’s (EIB) Greening Financial Systems (GFS) initiative. This collaboration aims to enhance ABC’s climate risk management framework, aligning it with global standards, including those set by the Central Bank of Kenya.
Car & General, a Nairobi Securities Exchange-listed firm, is expanding its footprint in the property sector with plans to launch an Sh800 million mall project in Shanzu, Mombasa. The project, scheduled to begin construction next year and be completed by 2026, aims to capitalize on the upgraded Mombasa-Mtwapa-Kilifi highway, enhancing accessibility and attracting a broad range of tenants.
