Caritas Microfinance bank has been recognized for its use of technology in delivering services to its customers. The bank scooped two awards – the Best microfinance Bank in the Use of Digital Solutions to Enhance Customer Experience and Best Microfinance institution in e-services in Kenya during the 2nd Digital Inclusion Awards held last month. The recognition comes barely six months after the micro lender was feted as the best microfinance Bank in Kenya during the Think Business Awards ceremony. Caritas, whose key shareholders are various institutions in the Catholic Church, was granted a nationwide license by the Central Bank of Kenya…
Author: NBM CORRESPONDENT
France based cosmetic company, Yves Rocher, has opened its new Lab store at The Hub to target the fast-growing Kenyan middle class population. The store counts 3 beauty advisors and more than 800 product references to ensure a global beauty offer respecting women and nature. Yves Rocher, which is known for its premium botanical beauty products and expertise in Face Care, will become the new inescapable place for women committed to plants and beauty. As a botanist, harvester, manufacturer and retailer, Yves Rocher controls the entire life cycle of its products, from the plant to the skin, of its 30…
Standard chartered, one of the country’s top-tier lenders, has upgraded its Automated Teller Machines (ATM) to allow its customers to withdraw cash without using their cards and transfer funds directly to third parties. This new function has been introduced on the bank’s mobile banking application following a successful piloting phase and the upgrading of its ATM network. This will enable customers to withdraw cash themselves at the ATMs using the mobile application. According to David Idoru, head of retail banking, to access cash, a customer will be required to generate a voucher number via the StanChart mobile banking App, which…
Blockbank, a digital decentralized commercial banking entity that leverages the blockchain technology, has acquired a stake in Spire Bank, formerly Equatorial Commercial Bank Limited (ECB) and declared a strategic fintech partnership with them to facilitate a wide variety of international crypto banking activities. The partnership is set to present the first fully licensed crypto bank offering low cost funding. The collaboration will also see Blockbank take advantage of Spire Bank’s local knowledge, experience and extensive customer base to be able to reach more customers. According to Blockbank, the Kenyan bank will provide a solid foundation for its first step into…
By David Wanjala After recording a deficit in the national budget, the government once again found itself in a tight spot and was hard pressed in finding ways to plug it. With credit currently out of reach, the President signed the Finance Bill 2018 into law, which brought with it new taxes and levies that have seen many Kenyans up in arms, as they feel that this will only enslave them financially. The new law has introduced various new fees and taxes besides the anchoring 8% VAT tax on petroleum products. There’s the increase of excise duty on mobile money…
By Onjili David Kenya wins bid to host the 6th International Open Data Conference (IODC) to be held in Africa in 2020 in Nairobi for the first time. Themed “Bridging Data Communities”, this bi-annual conference aims at embracing Africa’s growing innovative space. According to the Deputy President William Ruto, Kenya’s government is committed to the creation of an inclusive data ecosystem involving the government, the private sector, academia, civil society, local communities, and development partners that tackles the information aspects of development decision-making. “We recognize that if Kenya is to move ahead, we must deliberately pursue collaboration between the government,…
By Onjili David The International Organization of Securities Commissions (IOSCO) has launched its second World Investor Week (WIW), a move that’s expected to attract more than a thousand financial organizations to showcase their initiatives for promoting investor education and protection globally. From the first week of this month (October), securities regulators, stock exchanges, investor associations and other stakeholders will offer an array of activities including workshops, conferences, games and contests in a bid to increase awareness of investor education and protection in their fields. According to Capital Markets Authority (CMA) chairman James Ndegwa, while appreciating how Kenya’s population statistics showed…
BY DAVID ONJILI Okoa is Swahili for rescue. In last year’s general elections, the Opposition coalition dubbed their manifesto Okoa Kenya, pointing to the fact that there is a general perception that Kenyans need to be rescued from something. But why? Several companies market their products as though they are rescuing you. Worth noting is the fact at the end of the year, whatever activity they have engaged in must make for positive readings when the balance sheet and income statements are viewed. While such products may bring you convenience, in the long term, hidden fixed charges and penalties when…
BY CYNTHIA WAIRIMU Last month we talked about the importance of not sleeping in Make-up. Let us now look at the different types of cleansers that can be used to properly remove make up as well as impurities, excess oils, sunscreen from your face. Facial cleansers help the skin improve, renew, and heal while giving it a warm healthy radiance. It also allows for a good clean foundation for make-up and product application. Cleansers do not contain irritants such as alcohol, dyes and perfume. Variety is the spice of life and that goes for our skins as well. We all…
BY LAURIE GARRETT The world’s experts on HIV/AIDS are gathered this week in Amsterdam for the 22nd International AIDS Conference as a collective anxiousness has set in. The 2016 optimism that fueled a United Nations declaration that the end of AIDS was near has been replaced by a gnawing fear among experts. If properly treated with available drugs, today’s 37 million infected people no longer face mortal illness as did their counterparts in the pre-treatment days of the 1980s and 1990s. That much is true. But given the rest of the equation, it’s remarkable that the mood in Amsterdam isn’t one of panic. Danger surely looms.…