Safaricom and Mastercard have signed a partnership to accelerate the adoption of payment acceptance and cross-border remittance services in Kenya, with the first initiatives expected to roll out in the coming months. This collaboration is set to benefit over 636,000 merchants using M-PESA, Safaricom’s leading mobile money service and comes at a time when Kenya’s payment acceptance market continues to grow, with mobile wallet payments driven by M-PESA showing a 12.7 per cent compound annual growth rate (CAGR) between 2020 and 2024. “We are proud to partner with Safaricom to build an inclusive digital economy that works for everyone, everywhere.…
Author: NBM CORRESPONDENT
United Nations Special Envoy for the Horn of Africa, Ms. Hanna Tetteh has called for strengthened collaboration across the region on climate security during her courtesy call to the IGAD Climate Prediction and Application Centre (ICPAC). Ms. Tetteh, the UN Special Envoy for the Horn of Africa, made a courtesy call to the IGAD Climate Prediction and Applications Centre (ICPAC) to strengthen ongoing efforts in addressing the intersection of climate, peace, and security in the region. The visit highlighted the collaboration between the United Nations and regional bodies like IGAD in promoting climate resilience and peacebuilding. As Eastern Africa faces…
On Sunday, September 29, the competitors car paddock and the motorcycle judging ring at the Nairobi Racecourse will feature an amazing variety of cars and motorcycles at the Africa Concours d’Elegance. The organisers of the event have reported they have already received the maximum of 70 cars and 40 motorcycles for the event which will be the 52nd organized by the Alfa Romeo Owners Club. The Concours d’Elegance is the classiest event on the Kenyan motorsport scene and the center piece is the judging of classic and vintage cars and motorcycles under the regulations approved by the Kenya Motor Sports…
President William Ruto has picked Dr. Mohammed Abdi as chairperson of the Social Health Authority (SHA), to immediately replace Dr. Timothy Olweny who served in the same position since November 2023. In a Gazette notice, Ruto said that Dr Mohammed’s appointment, which is set for three years, would take effect immediately. The appointment of Dr Mohammed, who served in the same government agency as a member, tasked with implementing the Social Health Insurance Fund (SHIF) to provide Universal Health Coverage, comes at a time when the government is seeking to rollout SHIF on October 1, 2024, replacing the National Health…
De Heus Animal Nutrition Kenya, which is currently building a Sh3 billion factory in Athi River, Machakos County, is targeting a 3.5 per cent market growth in Kenya by the end of 2024. With a 2 per cent market share across the poultry, swine and ruminant segments, the company has set its eyes on the poultry sector to deliver on this growth ahead of the planned completion and commissioning of the feeds manufacturing plant in the second half of 2025. Currently constituting 60 per cent of the business, data by De Heus Kenya indicates that Kenyans consume on average about…
Vihiga County Executive Committee Member for Trade, Tourism, and Industrialisation, Joseph Lunani, has challenged women to embrace entrepreneurship. Mr. Lunani argued that the women had, for a long time, been marginalised and hence should take advantage of the prevailing favourable conditions to empower themselves economically. The CECM stated that they should go for financial support from the Women Enterprise Fund (WEF) and the National Government Affirmative Action Fund (NGAAF) to venture into income-generating activities. Speaking during a Vihiga County ‘Women in Business’ forum organised by the local chapter of the Kenya National Chamber of Commerce and Industry (KNCCI), Lunani encouraged…
If Indian billionaire Gautan Adani, through Adani Group, wants to run airports in Kenya under the Build Operate Transfer (BOT) model, he should put up a new airport. The BOT model can’t be used on already existing infrastructure. This whole scheme is about illegal privatisation of JKIA which shouldn’t be entertained. The Sh238 billion being talked about is probably enough to construct a brand-new airport. The 8 million passenger capacity Bugesera International Airport being constructed in Rwanda is costing $2 billion. Ethiopia is also planning a 100 million passenger capacity airport whose first phase will cost $6 billion. >>> STRIKE…
Government of Rwanda, Africa50 and the Arab Bank for Economic Development in Africa (BADEA), have broken ground on the construction of Kigali Innovation City (KIC) project, to foster the growth of digital entrepreneurs, businesses, students, and professionals who are relocating to the country, thereby enhancing productivity in industries that are not reliant on natural resources Dignitaries, policymakers, institutional investors, private investors, multinational corporations, and project developers convened at a ceremony on Tuesday, September 10, to mark the start of construction of the 61-hectare smart city development. The facility will accommodate top-tier universities, world-class universities, startup incubators, and accelerators across disruptive…
Namibia is planning to kill more than 700 wild animals, including elephants, zebras and hippos, and distribute the meat to the people struggling with food insecurity as the country grapples with its worst drought in 100 years. The animals set to be culled include 83 elephants, 30 hippos, 60 buffalo, 50 impala, 100 blue wildebeest and 300 zebras, the country’s Ministry of Environment, Forestry and Tourism announced Monday. They will come from national parks and communal areas with “sustainable game numbers” and will be killed by professional hunters, the ministry said in a press copy. The aim of the program…
The leasing market shows substantial expansion in the fourth quarter of 2024 (Q4) thanks to increased demand from businesses and customers seeking cost-effective fleet management solutions, Kenyan vehicle leasing and fleet management company, Loxea, said Wednesday, September 11. Positioning itself for further growth in the final quarter of 2024, the company, since its inception in 2009, remains bullish about the long-term outlook for vehicle leasing in Kenya. “We have grown exponentially since 2009 by delivering tailor-made leasing solutions that meet the demands of businesses in Kenya’s vibrant economic landscape, and we are determined to capitalize on the momentum,” Loxea managing…