mTek, a leading digital insurance platform based in Kenya, has forged a strategic partnership with BuuPass to offer travel insurance coverage for travelers. This partnership aims to protect travelers against any travel-related damages, simplifying the insurance process and providing a seamless, integrated option within the BuuPass platform.
Government revenues from aviation activities surged by 59 percent in the year to June 2023, driven by a significant increase in passenger numbers and flight operations. Airports across the country managed more than 11 million passengers, with flights reaching their highest level in four years, reflecting a robust recovery from the impacts of the Covid-19 pandemic.
Georgina Mukami Odhiambo has been appointed as the new Head of IT Retail Banking at NCBA. With over 15 years of extensive experience in the banking sector, Georgina brings a wealth of knowledge and expertise to her new role. Her journey in the banking industry has been marked by significant achievements and contributions to various institutions.
Apple has made a groundbreaking move in the AI field by fully embracing open-source principles with the release of their DCLM 7B model. This development marks a significant shift in Apple’s strategy, as the tech giant has traditionally been known for its proprietary approach. The DCLM model is now open-source, including not just the model weights but also the training code and dataset, a major step towards transparency and collaboration in the AI community.
TotalEnergies has recently signed an agreement with Bujagali Energy Ltd to invest in key energy projects, focusing on renewable energy. The deal includes acquiring a 28.3 percent stake in the Bujagali hydropower plant, located in Jinja, Uganda, which plays a crucial role in meeting the country’s electricity demands with its 250 MW capacity.
Cartona, an Egypt-based B2B e-commerce platform, has successfully raised $8.1 million in a Series A extension round led by Algebra Ventures. This latest financing round saw significant contributions from existing investors Silicon Badia and the SANAD Fund for micro, small, and medium enterprises, alongside Camel Ventures and GlobalCorp, which provided $2.5 million in debt and $5.6 million in equity, respectively.
President William Ruto has officially launched Kenya’s first shariah-compliant bond, the ‘Linzi Sukuk,’ on the Nairobi Securities Exchange’s (NSE) Unquoted Securities Platform (USP). This groundbreaking initiative aims to finance the development of 3,069 affordable housing units, addressing a critical need for accessible housing in the country.
Salient Advisory has unveiled its latest market intelligence report, titled “Leading Innovations Enabling Health Product Access in Africa,” highlighting 24 pioneering African supply chain innovators poised for significant impact. Funded by the Gates Foundation, this report sheds light on the crucial role these innovators play amidst challenging macroeconomic conditions and declining investment in African tech ecosystems.
