Equity Bank Kenya has entered the overdraft loan market with Boostika, a competitor to Safaricom’s Fuliza. This unsecured facility allows customers to overdraw their accounts by up to Ksh 100,000 (USD 625) to complete transactions like shopping, payments, money transfers, and airtime purchases. “This is a loan solution that allows Equity customers to complete a transaction even when running low on cash when using *247#, Equitel or Equity Mobile App,” according to the lender. Who qualifies? Active Equity Bank customer for at least six months Good repayment history Transaction history and loan behaviour within limits How it works When low…
Author: David Indeje
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.
Tanzania will suspend all passenger flights operated by Kenya Airways (KQ) between Nairobi and Dar es Salaam from January 22, 2024. The move is a retaliation for Kenya’s refusal to allow Air Tanzania Company Limited (ATCL) to operate cargo flights from Nairobi to third countries. The Tanzania Civil Aviation Authority (TCAA) said in a public notice that the decision was based on the principle of reciprocity, following the violation of a 2016 Memorandum of Understanding (MoU) on Air Services by the Kenyan authorities. The MoU stipulates reciprocal treatment for airlines from both countries. “This decision is based on the principle…
Ecobank, the leading pan-African financial services group, unveiled its new brand campaign, “A Better Way | A Better Africa,” at the TotalEnergies CAF Africa Cup of Nations Côte d’Ivoire 2023 (AFCON). As an official sponsor of the tournament, Ecobank leverages the unifying spirit of African football to demonstrate its unwavering commitment to the continent’s sustainable growth. We are incredibly proud to unveil our new brand campaign at the #TotalEnergiesAFCON2023! ‘A BETTER WAY | A BETTER AFRICA’ reflects our unwavering dedication to our beautiful continent as we support Africa in reaching, striving and attaining better, always. Join the movement!… pic.twitter.com/wBjhN5rZUz — Ecobank…
Spire Bank, a lender owned by Mwalimu Sacco, has been wound up by its members following a resolution passed at an extraordinary general meeting (EGM) on December 22, 2023. The members have asked the Central Bank of Kenya (CBK) to appoint the Kenya Deposit Insurance Corporation (KDIC) as the liquidator to oversee the dissolution of the bank. However, the shareholder’s approval is ‘subject to any applicable regulatory approvals.” The decision to liquidate Spire Bank comes after several attempts to sell it to other local banks failed. The lender had been struggling with financial and operational challenges for years, posting losses…
Equity Bank Rwanda celebrated a new chapter in empowering Rwanda’s future leaders with the induction of 36 high-performing students into the prestigious Equity Leaders Program (ELP). Launched in 2021, ELP focuses on nurturing academically gifted scholars through scholarships, leadership development, and community engagement. The rigorous program offers: Paid internships: Scholars gain hands-on experience and mentorship across Equity Bank Rwanda departments for three months. University support: Ongoing mentorship and coaching guide scholars throughout their higher education journey. Global opportunities: access to scholarships at top universities worldwide, including Ivy League institutions. Dr. James Mwangi, Equity Group Holdings Managing Director and CEO emphasized the program’s impact:…
Safaricom PLC, Kenya’s leading telecommunications company, has launched Spark Accelerator, a dedicated program designed to help early-stage startups grow and scale their businesses. Other partners are M-PESA Africa and Sumitomo Corporation. iHUB, a pioneering force within Kenya’s startup ecosystem and a subsidiary of Africa’s leading innovation hub, Co-Creation Hub (CcHUB), will be the implementing partner of the Spark Accelerator. Other supporting partners for the program include Vodacom and AWS. .@SafaricomPLC introduces #SparkAccelerator – a dedicated program that will help early-stage startups towards growth and scalability. https://t.co/htPVXIw1Ht #SparkAccelerator pic.twitter.com/Z6oZJMWTB7 — David Indeje 🇰🇪 ( He/Him/His) (@David_Indeje) January 12, 2024 The Spark…