May 2024 – Page 3 – Hakuna Matata Media

Family Bank’s Q1 Profit Rises 25% to Sh911M

Family Bank has reported a robust year-on-year increase in net profits to Sh910.5 million for the first quarter ended 31 March 2024, marking a nearly 25% rise from Sh685.3 million in the same period last year. This growth was driven by a substantial increase in both net interest income, which grew by 19.9% to Sh2.4 billion, and non-funded income, which rose by 29.7% to Sh1.3 billion. The bank’s strategic focus on diversifying its income streams has clearly paid off.

Raxio Opens New Data Center in Mozambique

10 months ago10 months ago03 mins

Raxio Data Centres proudly announces the opening of Raxio Mozambique, the nation’s inaugural Tier III Uptime Certified data centre. Known as Raxio MZ1, this cutting-edge facility is poised to bolster Mozambique’s burgeoning digital economy and accelerate the government’s digital transformation initiatives.

Orca Fraud Secures $550k to Combat Fraud in Emerging Markets

10 months ago10 months ago03 mins

Orca, a South African startup specializing in fraud prevention for banks and fintechs in emerging markets, has successfully raised a $550,000 pre-seed round to further develop their innovative solutions. The round was led by Norrsken22, with participation from First Circle Capital, Musha Ventures, Kara Ventures, strategic business angels, and supportive family and friends.

Nine Startups Chosen for Safaricom’s Spark Accelerator Program

10 months ago10 months ago03 mins

Safaricom, in partnership with M-PESA Africa and Sumitomo Corporation, has unveiled the nine promising startups selected for the Spark Accelerator Program. Focused on accelerating early-stage startups in the fintech and content space, the program aims to support these innovative businesses in scaling and growing.

Orange, Digital Africa Collaborate to Grow Tech Start-ups

10 months ago10 months ago03 mins

Orange, through its Orange Ventures arm, is significantly expanding its support for African tech start-ups, helping them navigate and thrive in a rapidly evolving digital landscape. This strategic move underscores Orange’s commitment to fostering innovation and entrepreneurship across the continent.

Dr. Kamau Thugge Named Central Bank Governor of the Year

10 months ago10 months ago03 mins

The Governor of the Central Bank of Kenya, Dr. Kamau Thugge, CBS, has been honored with the prestigious title of **African Banker Central Bank Governor of the Year** by the esteemed African Banker Magazine. This recognition highlights Dr. Thugge’s exceptional leadership and strategic vision during a year marked by significant global economic challenges.

StanChart Profit Rises 39% to Sh5.6B in Q1 2024

10 months ago10 months ago03 mins

Standard Chartered Bank Kenya has reported an impressive 39.4% rise in profitability for the first quarter of 2024, with net income increasing to Sh5.6 billion from Sh4 billion previously. The growth was driven by higher income from loans and transactions, reflecting the bank’s robust financial performance amid challenging economic conditions.

Kristel, Kenyan Cybersecurity Firm, Expands in East Africa

10 months ago10 months ago03 mins

Kenyan cybersecurity firm Kristel has expanded its footprint to Rwanda, Ethiopia, and Uganda to meet the increasing demand for cybersecurity services in the region. This expansion was announced during the unveiling of Kristel’s new look at Royal Tulip Canaan Hotel.