IMF Delays $238 Million Loan for Kenya

IMF

IMF Delays $238 Million Loan for Kenya  Kenya may need to find alternative sources to finance its current budget due to a delay by IMF [International Monetary Fund] in issuing it a 28 billion shilling loan ($238 million). Kenya included loan funds in the current fiscal year’s budget. Delay may see the nation seeking alternative budget financing. The funding is part of a $2.34 billion extended credit facility and extended fund facility that was agreed to by the IMF more than a year ago for budget support. The loan needs board approval…

Safaricom and Visa launch M-Pesa Global Pay Visa Virtual Card

Safaricom and Visa launch M-Pesa Global Pay Visa Virtual Card Safaricom has entered an agreement with Visa to form M-Pesa GlobalPay Visa Virtual card which will see the mobile phone-based money transfer service transact in 200 countries. This will allow customers to transact up to Sh150,000 ($1,28370) per payment and Sh300,000 ($2,567.3) per day. The deal is expected to shore Safaricom’s earnings from the mobile money services at a time M-Pesa revenues have been growing steadily. “By partnering with Visa to provide the M-Pesa GlobalPay Visa virtual card, we are…

Celebrating Africa Day 2022

HAPPY AFRICA DAY

Africa Day African Unity Day, also known as Africa day is celebrated annually on May 25th. It commemorates the founding of the Organisation of African Unity (OAU) on this day in 1963. Celebrating Africa Day by exploring the continent’s art and culture through a new lens would be awesome. It is a statutory public holiday in several countries such as The Gambia, Mali, Namibia, Zambia, and Zimbabwe. The History of Africa Unity Day It was convened by Prime Minister of Ghana Dr. Kwame Nkrumah, and comprised representatives from Egypt (then…

Researchers Devise iPhone Malware that Runs even when Device is turned off

Researchers Devise iPhone Malware that Runs even when Device is turned off Research is largely theoretical but exposes an overlooked security issue When you turn off an iPhone, it doesn’t fully power down. Chips inside the device continue to run in a low-power mode that makes it possible to locate lost or stolen devices using the Find My feature or use credit cards and car keys after the battery dies. Now researchers have devised a way to abuse this always-on mechanism to run malware that remains active even when an…

Tangerine, A Tech company boosts Financial inclusion in Africa

Tangerine,AFRICA

  Leading financial services and technology platform, Tangerine officially launched on Wednesday 7th July 2021. In September 2019, Tangerine was established following the acquisition of a 100% equity stake in Metropolitan Life Insurance Nigeria by Verod Capital Management, a leading private equity firm investing in growth companies across Anglophone West Africa. Today, Tangerine is positioned to be Africa’s preferred one-stop financial solutions provider, leveraging a tech-driven, flexible, high-access platform to drive business across all the financial services segments in Africa to deepen financial inclusion, facilitate wealth creation, and protection. In…

Maviance raises 3Million to digitize financial services

Maviance raises 3Million to digitize financial services Maviance, a Cameroon-based company providing digital financial services like agency banking and bulk bill payments, has raised $3 million in equity financing. The investment is solely from MFS Africa, the cross-border fintech company connecting mobile money providers like MTN to banks like Ecobank across over 34 countries in Africa. MFS Africa’s investment gives it an undisclosed minority stake in Maviance. Maviance’s flagship product is Smobilpay, a platform that integrates payment solutions from banks, mobile money operators, and telecom operators. Smobilpay is connected to…

TECNO new innovations to meet Africans needs

  For the past 15 years, many aspects contributed to Africa’s rapid economic growth. Mobile phones were critical in leading to this growth. Transsion, a Chinese-led group that started in Africa and focuses on emerging markets outside of China. Its brands, such as TECNO, are household names on the continent, where it is today the single biggest smartphone seller. Transsion’s vice-president, Stephen Ha, puts this down to designing phones specifically for the needs of the African consumers. In 2008, it made a strategic decision to focus exclusively on Africa, before…

DCA WebForum Hosts Leading Ladies in Africa’s Finance Sector on timely topic of Women Bankers for Women Entrepreneurs: A post 2020 strategy for success.

  The DCA Group hosted its 5th impactful and insightful Executive Roundtable conversation on the topic of “Women Bankers for Women Entrepreneurs: A post 2020 strategy for success, presenting a unique topic about “What Women Want” in Banking. The virtual meeting dialog consisted of  leading ladies at the Ministry of Trade and Industry Zanzibar, Credit Bank PLC-Kenya, Bank of Ghana, NCBA Bank Group, Absa Bank and African Development Bank Group. The rich discussions encompassed Ambassadors, Ministers, Senior Managers, and Directors in top Banking and Finance Industry who are passionate and well known in…

Zain ranked best Telecom employer in region by Forbes’ World’s Employers list for 2020

Zain Group, a leading mobile telecom innovator operating across the Middle East and Africa is proud to announce its categorization as the region’s highest ranked telecom group and only company from Kuwait in Forbes magazine’s The World’s Best Employers list for 2020. The list also saw Zain ranked fourth best employer across all industries in the Middle East. First published in 1917, the world-renowned American business magazine, Forbes, is one of the most reputable and respected names in business publishing globally, and Zain’s inclusion in its list of best employers…

Free calls and data as Safaricom turns 20

Free calls and data as Safaricom turns 20 Telecommunication giant Safaricom has announced to give away free calls and data for its loyal customers at its Safaricom 20 birthday celebrations at the Serena Hotel, Nairobi. Safaricom which enjoys about 35 million subscribers in Kenya said all its customers will be enjoying free calls of up to 20 minutes within the next 30 days as they celebrate 20 years of service. Ndegwa said, “Each customer will receive a notification a day before to alert them of their free calls. Customers who…