Digital insurance platform mTek has secured $1.25 million (Sh167.8 million) in funding from Verod-Kepple Africa Ventures (VKAV) and Founders Factory Africa (FFA). This investment will bolster mTek’s expansion across the Kenyan and wider East African insurance market. mTek leverages technology to simplify insurance access and aims to be the African insurance ecosystem’s leading platform-as-a-service (PaaS). The funding will also support mTek’s insurtech innovation. mTek CEO Bente Krogmann emphasized the importance of the partnerships, stating their goal to build “Africa’s No. 1 platform as a service for the insurance ecosystem.” They plan to collaborate with underwriters, regulators, and other stakeholders to increase insurance accessibility and create value for all parties involved. “We are now looking forward to further strengthening our strategic…
Author: David Indeje
David Indeje is the community engagement editor at Khusoko, a leading digital platform for East African business news. He oversees editorial content, drives audience engagement, and amplifies diverse voices. Indeje also consults on digital strategy for brands in agriculture, governance, technology, and health, while exploring AI’s impact on journalism. In addition, he serves as a communications officer at KICTANet, advancing digital inclusion and policy dialogue.
The Emirates Group is taking a strong stance on gender equality, making significant strides in empowering women within its workforce and championing their leadership potential. Celebrating Women and Launching New Initiatives To mark International Women’s Day 2024, Emirates highlighted its unwavering commitment to women through various initiatives: Empowering Women Leaders: Employees participated in talks by Liz Wiseman, a renowned leadership author, gaining valuable insights to enhance their leadership skills. Gender Balance Council Established: A dedicated council was launched to represent women employees, foster knowledge sharing, and advance gender balance. This council will oversee mentorship programs, professional development workshops, and outreach events designed…
Today, with 150 million startups worldwide and another 50 million launching annually, innovation and creativity are reshaping industries. However, roughly 1 in 5 startups fail in the first year because of various difficulties, from financial struggles to poor product-market fit. Recognizing this, OPPO actively engages with startups, providing essential support to help them navigate obstacles and bring their innovations to fruition. “At OPPO, we understand the diverse needs of startups. We offer comprehensive support, including funding, technology, and marketing, to foster their growth and extend the benefits of technology to more people. Through these strategies, startups such as AlpsenTek, HUAYI, and CloudSteth are expected…
Airtel Africa is considering an initial public offering (IPO) for its mobile money unit, Airtel Money. The potential valuation could exceed $4 billion. According to Bloomberg, the company is considering listing on stock exchanges like those in the UAE, London, and other European markets. However, a final decision has yet to be made, and the exact timing and valuation of the IPO remain unclear. In 2021, investments from TPG ($200 million) and Mastercard ($100 million) valued Airtel Money at $2.65 billion. Airtel Africa previously indicated an intention to take the unit public within four years of that time (2021). Airtel Africa…
Equity Group has been ranked second in Brand Finance’s 2024 brand strength and value rankings, solidifying its position as one of the world’s strongest banking brands. Equity climbed from fourth place in 2023 to second in the world’s top 10 strongest banking brands, boasting a Brand Strength Index score of 92.5 out of 100 and an elite AAA+ brand strength rating. Equity’s brand value also substantially increased, soaring by $22 million from $428 million last year to $450 million (about KSh 64 billion). This placed Equity as Africa’s tenth most valuable banking brand, showcasing its remarkable growth and influence in…
Standard Chartered Kenya recorded a 14.9% increase in earnings per share (EPS) to KES 36.17 billion for the 2023 fiscal year, up from KES 31.5 in the same period last year. The lender’s dividends per share were up 31.8% to KES 29.00, translating to a payout ratio of 80.1%. The bank’s net profit climbed to Sh13.8 billion, representing solid year-on-year growth. This positive performance translated directly to dividends, with the total payout rising to Sh10.96 billion. “A double-digit growth in revenue is a very pleasing number to be able to deliver. It is about ensuring that we are sticking to…