Faulu Microfinance Bank has announced a strategic refocus aimed at bolstering its digital banking capabilities and optimizing its operational structure to foster sustainable growth. Supported by a significant investment of over Ksh 900 million from its parent company, Old Mutual, Faulu is poised to enhance its digital finance offerings and streamline its distribution channels.
Samsung has launched its cutting-edge 2024 Neo QLED and OLED TV line-up at the exclusive Unbox & Discover event held at Capital Club in Nairobi, Kenya. As the leading TV manufacturer globally for 18 consecutive years, Samsung sets a new standard in home entertainment with a suite of AI-driven innovations designed to elevate viewing experiences.
In a significant move, the Public Service Commission (PSC) has appointed Raphael Owino as the new Director General of Public Debt Management at Kenya’s Treasury. His appointment follows a rigorous selection process, with the National Treasury expressing utmost confidence in Owino’s capabilities, citing his proven track record at the Central Bank of Kenya.
In the first quarter of 2024, Kenya’s tea exports surged by 19%, reaching 155.8 million kg compared to 131.1 million kg in the same period last year, according to a report from the Tea Board of Kenya (TBK). This growth was driven by increased shipments to key global markets, reflecting rising demand both in traditional markets and emerging economies.
Huawei Africa Connect 2024 kicked off this week at the Sandton Convention Centre, marking a new era for the enterprise-focused annual event. Formerly known as Huawei Eco Connect, this year’s edition underscores Huawei’s commitment to Sub-Saharan Africa, showcasing innovative solutions tailored for the region.
Colombian fintech pioneer Minka is embarking on a bold expansion into Eastern and Southern Africa, underscoring its commitment to revolutionizing payments infrastructure across the Global South. Led by CEO Domagoj Rozic, Minka aims to address challenges such as low financial inclusion and outdated payment systems prevalent in the region. Rozic emphasized, “Our mission is to create efficient, interoperable payment solutions that benefit society, building on our success in Latin America.”
Kenya’s Peleza and US-based Prembly have merged to form the ‘Prembly Group,’ a new venture poised to revolutionize digital security and verification solutions globally. This strategic merger combines Peleza’s extensive experience in the East African market, serving major players like Uber and FedEx, with Prembly’s robust digital security infrastructure and compliance software tailored for emerging markets.
Jeff Bezos, the visionary founder of Amazon, has announced plans to sell an additional 25 million shares of the technology giant, totaling nearly $5 billion. This decision follows Amazon’s record-high stock market valuation, reflecting a strategic move amidst the company’s soaring performance and growing demand for artificial intelligence (AI) technology in its cloud computing business.
