Author: David Indeje

Airtel Uganda, a subsidiary of Airtel Africa, has announced its intention to list 8 billion, or 20 per cent, of its ordinary shares on the Uganda Security Exchange (USE). The public offer will be issued before the regulatory deadline of December 16.  The move is aimed at increasing local ownership and participation in the telecom sector, as well as contributing to the development of the capital markets in Uganda. The telco has appointed Absa Bank Uganda Ltd. as a Lead Transaction Advisor, Crested Capital as a Lead Sponsoring Broker, Katende Ssempebwa and Company Advocates as Legal Advisor and Ernst &…

Little Cab, Kenya’s fastest-growing ride-hailing company has noticed a fascinating usage pattern on its platform. The popular ride-hailing service allows users to book rides, pay for them, and even transfer funds to other users through its app.  It appears that a significant number of men are topping up their Little Wallets using their M-PESA or Bank Cards, specifically to transfer funds to their women’s ride wallets. https://twitter.com/KBudhabhatti/status/1691381065774985216?s=20 Why are they doing this?  According to Kamal Budhabhatti, Chief Executive Officer of Little, to understand the trend, they conducted an anonymous survey and engaged in conversations with several men and women.  “What…

Safaricom, Kenya’s leading mobile network operator,  will increase the account limits for its mobile money service M-Pesa to Sh500,000, following approval from the Central Bank of Kenya (CBK). The new account limit, which will take effect from Tuesday, August 15, 2023, will apply to all M-PESA customers and will enable them to transact up to Sh500,000 per day. Safaricom CEO Peter Ndegwa said the move was aimed at providing more convenience and flexibility to customers and especially small businesses that rely on M-PESA for cashless transactions. “We appreciate the role that the CBK has played by constantly providing guidance on…

Kenyan start-up founders learned how to prepare for due diligence and attract funding from investment professionals at an event in Nairobi. Due diligence is the detailed examination of a company and its financial records before becoming involved in a business arrangement in order to analyse and mitigate risk from a business or investment decision. It involves examining a company’s numbers and comparing them over time, and benchmarking them against competitors. Zaina Otieno, an investment associate principal at CrossBoundary Energy, which invests in renewable energy projects in Africa, told ventures to organise their materials and financial documents to give potential investors…

Guinness Kenya has announced a partnership with K1 Klubhouse, a popular entertainment spot in Nairobi, to offer their customers an ultimate football viewing experience this 2023/24 premier league season. The K1 Klubhouse dubbed the Guinness Brighthouse, connects consumers through their universal love for football, food, fashion, art, and music.  The venue will feature giant screens, live DJs, games, prizes, and of course, Guinness stout. Guinness Kenya says they want to celebrate the passion and loyalty of their customers who follow the English premier league with enthusiasm and excitement. Guinness Marketing Manager Henrietta Reed said, “Fans are at the heart of…

The Menace and Lugari Progressive emerged as the champions of the Kakamega County Safaricom Chapa Dimba finals in the boys’ and girls’ categories respectively on Sunday at Kakamega High School Grounds. In the girls’ final, Lugari Progressive dominated the game from the start and scored four goals in the first half to seal their victory over Kakamega Starlets. The second half saw no change in the scoreline as Lugari Progressive maintained their lead and defended well. https://twitter.com/SafaricomPLC/status/1690769699582205952?s=20 In the boys’ final, Lugusi Boys took a 2-0 lead in the first half against The Menace, who struggled to break through their…