Equity Group has announced the appointment of Mr. Moses Okoth Nyabanda as the Acting Managing Director of Equity Bank Kenya, following the early retirement of Mr. Gerald Warui. Mr. Nyabanda, who currently serves as the Group Chief Finance & Strategy Execution Officer at Equity Group Holdings Plc, will assume his new role pending approval from the Central Bank of Kenya.
One week after announcing its closure, Mobius Motors, a Kenya-based automaker backed by Playfair Capital, has accepted an acquisition offer from an undisclosed buyer. This development comes as a significant turnaround for the company, which had been struggling financially.
Angola Cables has achieved a significant milestone with data traffic across its network reaching a record peak of 18,448 Tbps. This achievement has elevated Angola Cables to the 24th position in the Center for Applied Internet Data Analysis (CAIDA) global rankings, making it the only African network operator in the top 50.
Tobias Alando has been appointed as the new CEO of the Kenya Association of Manufacturers (KAM), succeeding Anthony Mwangi, who has stepped down from the position. Alando, who previously served as KAM’s Chief Operating Officer, brings a wealth of experience and an insider’s perspective to the role.
The Democratic Republic of Congo (DRC) has inaugurated its first Tier-III certified, open-access, carrier-neutral data centre through a joint venture between Open Access Data Centres (OADC) and TEXAF, named ‘OADC Texaf Digital’. This landmark project marks a significant advancement in the country’s digital infrastructure, providing a robust foundation for the burgeoning digital economy in the DRC.
Information and Communication Technologies (ICTs) are poised to significantly accelerate progress towards achieving the 17 United Nations Sustainable Development Goals (SDGs), according to the United Nations Industrial Development Organization (UNIDO). Zhao Xiaolei, Head of UNIDO ITPO, highlighted at MWC24 Shanghai that digital transformation offers immense potential for creating value through job creation, economic improvement, and fostering harmonious societies and environments.
Co-operative Bank of Kenya has achieved a notable seven percent increase in net profit, reaching Sh12.99 billion for the half-year ended June 2024. This growth, up from Sh12.14 billion in the same period last year, is attributed to a substantial rise in both interest and non-interest income. Net interest income surged by 10.7 percent to Sh23.9 billion, while non-interest income climbed 11.2 percent to Sh15.4 billion.
The U.S. and Mogo, a prominent asset financier, have partnered to advance electric mobility in Kenya. U.S. Ambassador to Kenya Meg Whitman, during a visit to Mogo’s electric vehicle showroom in Nairobi, commended Kenya’s strides towards decarbonizing its transport sector. Mogo, along with two other e-mobility companies, has secured approximately Sh3.9 billion ($30 million) from the U.S. International Development Finance Corporation (DFC) to support green transportation initiatives.
