Workpay, the Kenyan cloud-based HR, payroll, and benefits platform, has successfully raised $5 million in Series A funding. This significant funding round, led by Norrsken22 and featuring investors such as Visa, Y Combinator, Saviu Ventures, Axian, Plug n Play, Verod-Kepple Africa Ventures, and Acadian Ventures, follows Workpay’s successful pre-Series A round of $2.7 million in early 2023.
Bradford Nyangiri and Felix Makori from Menyenya Secondary School in Nyamira County have emerged as the overall winners of the 2024 Young Scientists Kenya (YSK) National Science and Technology Exhibition. Their innovative project, the “Sunken Cooking Jacket,” excelled among 1,780 submissions, securing the top position in the Chemical, Physical, and Mathematical Sciences category, specifically within the Energy and Transport sector.
In Kenya, informal cooperative societies, or chamas, have long played a vital role in fostering financial stability and progress. These groups have been instrumental in helping families achieve significant milestones, from education to home ownership and small business ventures. However, as chamas grow in size and complexity, they face new challenges, particularly in record-keeping and financial management.
Kenya is witnessing a significant surge in interest in artificial intelligence (AI), ranking fourth in Africa and 13th globally in AI-related searches this year. This uptick in curiosity underscores a growing awareness and engagement with AI technology across the country.
Access Bank Plc is on the brink of a significant expansion in East Africa as it nears the acquisition of National Bank of Kenya (NBK). The Nigerian banking giant has entered the final stages of this strategic move, pending approvals from the Central Bank of Kenya and the Competitions Authority of Kenya. This acquisition is a key part of Access Bank’s five-year plan to enhance its presence in Kenya and solidify its role in the East African trade corridors.
Kenya’s Lillian Kariuki has been appointed to TikTok’s newly established Safety Advisory Council for Sub-Saharan Africa. This announcement was made during TikTok’s Safety Summit in Nairobi, marking a significant step in the platform’s efforts to enhance safety measures across the region. Kariuki is among eight distinguished members chosen for their expertise and commitment to fostering a secure online environment.
A new cross-border payment platform focused on the Afro-Asian corridor is preparing to launch in Kenya, promising significant changes for local traders. Pyxis, a financial technology company, is finalizing a deal that will allow Kenyan traders to pay for Chinese goods through Alipay, the payment system affiliated with Alibaba. This advancement aims to simplify transactions by eliminating the need for dollar conversions, potentially boosting the use of the Chinese yuan in international trade.
Moja EV Kenya is intensifying its marketing efforts for the Neta electric vehicles, focusing on taxi drivers in the coastal region to expand its presence in Kenya’s automotive market. The Chinese firm, which serves as the distributor for Neta in Kenya, is capitalizing on the growing awareness of the economic and ecological benefits of electric vehicles among Kenyans.
