Author: Korir Issa

Tech giants Microsoft Corp. and Dubai-based AI firm G42 are investing $1 billion in a new data centre in Olkaria, southwest Kenya.   This project aims to boost cloud computing services across East Africa. What it Means East Africa is getting a state-of-the-art data centre powered by geothermal energy. This translates to faster and more reliable access to cloud services like Microsoft Azure for businesses and individuals in the region. Secondly, the data centre is expected to energize the overall digital landscape in East Africa, fostering innovation and growth. Third, the project reflects a broader trend by major tech companies like Microsoft, Amazon, and Alphabet to meet the growing demand for cloud and…

Stanbic Bank Kenya is modernizing its technology infrastructure by upgrading its core banking system, Temenos 24 (T24), to the latest version.  This multi-phase upgrade, expected to be completed by the end of 2024, aims to deliver a superior banking experience for customers. Dr. Joshua Oigara, CEO, Stanbic Bank Kenya and South Sudan emphasised the importance of technology and innovation in today’s competitive landscape.  “This upgrade adds to our technological capabilities and enables us to better serve our clients both on a local and global scale. We are proud to partner with Orion, and to leverage its strong background and expertise in driving system…

Kenya’s job market generated a net gain of at least 848,200 new jobs in 2023, according to the Kenya Economic Survey 2024.  However, the composition of this growth, persistent gender disparity, and declining real wages raise concerns about the long-term sustainability of this progress. Informal Sector Leads Growth The informal sector contributed 85% of new jobs created equal to 720,900. However, the formal wage employment saw a modest increase of 122,800 jobs (4.1% growth). On the other hand, public sector wage employment grew by 5.9%, with the largest increase going to teachers at 6.5%. Private sector wage employment grew by 8.2% with the Public sector wages now…

Gor Mahia secured a historic 21st Kenyan Premier League title with three matches remaining in the season.  They defeated relegation-threatened Muhoroni Youth 3-0 at the SportPesa Arena on Sunday. K’Ogalo, as Gor Mahia are nicknamed, needed a win to retain their championship title.  Lead striker Benson Omalla opened the scoring in the 38th minute after missing a penalty earlier. Boniface Omondi doubled the lead just three minutes into the second half.  Midfielder Austin Odhiambo sealed the win with a fantastic goal in the 65th minute. 🟢 | CHAMPIONS Stand up for the 2023/24 league champions💪 21st 🏆… and counting. 1968…

Nigerian Afrobeats star Ayra Starr has been selected as a Spotify EQUAL artist for both the Africa and Global programs in May 2024, marking her second recognition in the initiative after her feature in the EQUAL Africa program in November 2021. She joins Tiwa Savage as the only other African artist to receive this prestigious recognition from Spotify. As part of the EQUAL program, Ayra Starr, signed to Don Jazzy’s Mavin Records, will benefit from enhanced visibility through Spotify playlists, content hubs, and partnerships. This platform aims to amplify her reach and influence in the global music scene. Championing Women…

DIB Bank Kenya, a subsidiary of Dubai Islamic Bank profit before tax surged 105% YoY to KES 6.3 million for the period ending March 31, 2024.  This marks a significant milestone for the Bank as it reports its first profit since it began its operations in Kenya the lender said. The Bank attributes this stellar performance to increased customer confidence in Shariah banking and DIB Bank Kenya’s offering, resulting in sustained balance sheet expansion over the years. Highlights Strong balance sheet expansion: Deposits and net financing grew by 49% and 38% YoY, respectively. Improved operational efficiency: The Cost-Income Ratio (CIR) significantly improved to 96%…