Kenya accounts for 60 per cent of private equity investments to East Africa

Banking Crisis

Kenya accounted for more than half of funds pumped into the region by private equity (PE) and venture capital firms. A new report shows that Kenya received 59 per cent of the funds that private equity firms pumped into the region between 2013 and 2018. The report by the Africa Private Equity and Venture Capital Association (AVCA) indicates that there were 110 reported deals during the five years valued at Sh130 billion. Most of the money was invested in the consumer goods and technology sectors. Reports have in the recent…

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Founding DG of Kenya’s Vision 2030 secretariat Mugo Kibati, takes over at Telkom Kenya

artificial intelligence

Telecommunications company Telkom Kenya has appointed Mugo Kibati as its new chief executive officer, taking over from Mr Aldo Mareuse. Announcing the change, Telkom Kenya board chair Eddy Njoroge said the firm was grateful to Mr Mareuse for his successful leadership for the period he has been with the company. “Notable milestones achieved during his tenure include the expansion of the company’s network by over 50 per cent, successful rebranding of the company to Telkom and rolling out of a 4G network, resulting in the company becoming the data operator…

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Facebook institutional investors want Zuckerberg ousted as chairman

Amidst increasing incidences of data breaches such as the Cambridge Analytica scandal that saw the personal data of 87 million Facebook members used without permission, to Russian sourced posts aimed at influencing the midterm elections, a report from Reuters states that four institutional investors in Facebook are looking to have Zuckerberg replaced by an independent chairman. A similar proposal was defeated by stockholders in 2017. The filing asking for a vote to remove Zuckerberg was made to Facebook’s board by the state treasurers of Illinois, Rhode Island and Pennsylvania, who…

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Tech and sports titans pay tribute to Microsoft co-founder Paul Allen who has passed at 65

Paul Allen, who co-founded Microsoft Corp. with fellow billionaire Bill Gates and used the fortune he made from the iconic technology company to invest in professional sports teams, cable TV and real estate, has died. He was 65. Allen, along with Gates, helped create an entire industry selling software for a new breed of smaller, more affordable and widely accessible computers. Allen died on Monday in Seattle from complications of non-Hodgkin’s lymphoma, according to a statement from Vulcan Inc., his investment firm. Allen’s source for his varied investments and sizable…

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Sophia Bekele honoured with Champion of Development Award at the 2018 AfricaLink Solidarity Awards in Switzerland

Sophia Bekele, Founder and CEO of DotConnectAfrica Group, has been honoured with Champion of Development Award during the 2018 AfricaLink Solidarity Awards and symposium in Switzerland  for her initiative Miss.Africa Digital Initiative which hundreds of young women and girls have benefited from through training opportunities or applications supported by the Miss.Africa Seed Funding. Three other leaders and two organizations we also awarded during the same ceremony, they are: Mr. Léonard H. Bindzi, Mr. Osvaldo dos Santos Varela, Ms. Claudinah Ntini Ramosepele while the two organisations are Fund for Development and Partnership…

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Distribution Is The Real Disruption, Mobile phones game-changing agri-tech in Africa

While emerging technologies like blockchain and artificial intelligence can capture our imagination, some of the most game-changing innovations for smallholder farmers are more modest. Seeds. Roads. Electricity. While such technologies may seem mundane, they are anything but. Reaching smallholder farmers in rural areas takes a nuanced combination of appropriate innovations, sophisticated distribution systems, and a human touch. One organization celebrated for its approach is One Acre Fund, a non-profit social enterprise working with 600,000 farmers in East Africa. I spoke with Ilana Kessler, Impact Ventures Growth Director, about scaling innovative approaches to help…

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No VC: Facebook is not making any direct investments to African tech startups

Facebook has been scaling up its operations in Africa and engaging more intently with tech startups on the continent, but the company has decided it will not be making any direct investments, Disrupt Africa reports That is according to Julien Decot, director of platform partnerships for EMEA at Facebook, who was speaking at last week’s MEST Africa Summit in Cape Town. He said the decision not to become an investor had come straight from Zuckerberg himself. “That was a Zuckerberg decision. The way Mark thought about it was – “this…

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Gaming Disorder Officially Recognized by WHO

For most of us, a round or three of Fortnite can serve as a playful escapism. But for a small number of people, the World Health Organisation is warning gaming is developing into an unhealthy addiction. The United Nations’ health agency for the first time listed gaming as an addictive behaviour disorder in its latest international classification of diseases, the ICD-11. The disorder, a “genuine” and “harmful” mental health condition, can also contribute to other problems such as lack of physical activity, an unhealthy diet, sleep deprivation and aggressive behaviour. “What…

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Children exposed to horror film ads on YouTube

Children were left distressed after seeing ads for a horror film on YouTube, the Advertising Standards Authority (ASA) has revealed. Three parents contacted the ASA after their children saw ads for Insidious: The Last Key – rated 15 in the UK. One ad for the film was shown before videos of songs from Frozen, instructions for building a Lego fire station and a clip from the cartoon PJ Masks. The ASA has upheld the complaints. In a second ad, the ASA said a young woman was seen “lying on a…

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UN CSTD: Next generation tech-preneurship will be led by Teenpreneurs, Bekele

Start-ups need to stridently move from talking the blue-print to tangibles in the tech space and that next generation tech-preneurship will be led by #Teenpreneurs, who have it in their DNA . The 21st Commission on Science and Technology for Development  UNCSTD was held at the United Nations HQ, Palais des Nations, Geneva, from Monday, 14 May to Friday, 18 May 2018. Among the distinguished speakers sat in a high level panel included Sophia Bekele Founder & CEO of DotConnectAfrica who discussed the impact of rapid technological change on the…

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