NBA Africa and Safaricom have launched the M-PESA Jr. NBA program, a multi-year initiative aimed at providing basketball development and financial literacy training to over 10,000 Kenyan youth. The program will encompass regional tournaments in Nairobi, Mombasa, Eldoret, and Kisumu, culminating in an elite camp for top players. In addition to on-court skills development, M-PESA will conduct financial literacy workshops, empowering young athletes with essential financial knowledge. “This partnership with Safaricom marks a significant milestone in our efforts to impact the lives of Kenyan youth positively,” said Clare Akamanzi, CEO of NBA Africa. Dr. Peter Ndegwa, CEO of Safaricom, emphasized…
Author: Muindi
Muindi
Experience working on communication and marketing departments and in the broadcast industry. Interested in sustainable development and international relations issues.
Tony O. Elumelu, Group Chairman of United Bank for Africa (UBA) and founder of the Tony Elumelu Foundation (TEF) has secured a $6 million partnership with the UAE Office of Development Affairs and the Khalifa Bin Zayed Al Nahyan Foundation. This initiative will provide 1,000 young African entrepreneurs with funding, mentorship, and business training to build and sustain businesses driving economic transformation across the continent. This collaboration is particularly timely given Africa’s projected population doubling by 2050 and the persistent challenge of youth unemployment. The program will provide selected entrepreneurs with seed capital, comprehensive business training, and mentorship. Since launching…
Remittances from Kenyans living abroad dipped in January 2024, decreasing by KSh2.3 billion compared to December 2024, according to Central Bank of Kenya (CBK) data. This decline follows a record-high remittance inflow in December, the largest ever recorded in Kenya. In January, diaspora remittances totalled $427.4 million (approximately KSh55.2 billion), down from $445.4 million (KSh57.6 billion) in December. Despite this month-on-month decrease, January’s remittances were still 3.6% higher than the $412.4 million (KSh53.3 billion) received in January 2023, demonstrating continued year-on-year growth. Over the 12 months leading to January 2025, cumulative remittances reached $4.96 billion (KSh641.1 billion), a 16.6% increase…
Kenya’s craft spirits brand, African Originals, has expanded in Uganda, focusing on a niche market approach, according to CEO Alexandra Chappatte. “The biggest strategy we have put is to enter this market the right way and not put too much pressure on large sales; we will focus on a smaller market launch rather than larger ones.” “We consider Uganda a strong alcohol-drinking nation that loves sweet, strong drinks.” This expansion follows a $2 million (KSh258.6 million) funding round in 2024, led by Mauritius-based brewer Phoenix Beverages, and signals the company’s ambition to establish a presence in neighbouring Tanzania and Rwanda.…
Airtel Kenya says it is pursuing growth in Kenya’s mobile market with a multipronged strategy focused on affordability, network expansion, and customer-centric initiatives. Airtel notes that affordability, particularly in mobile money transactions,. Their “Rudishiwa Transaction Fee Campaign,” launched in December 2023 and continuing, reimburses customers for transaction fees. As Managing Director Ashish Malhotra explained, “When you transfer money from your bank to your Airtel Money wallet, we will see what the bank has charged, and we will give it back to you as airtime. The airtime has no expiry, and you can keep it for as long as it takes.”…
Knight Frank’s Kenya Market Update H2 2024 reveals declining occupancy rates in the commercial office sector. According to the market report, average monthly asking rents for prime office space remained stable at USD 1.2 per sq ft. However, occupancy fell by 4.5% to 72.7% in H2 2024, down from 77.2% in H1 2024. This decrease is attributed to two primary factors: a challenging economic environment impacting tenant demand and the introduction of substantial new office supply including Purple Tower, Highway Heights, Matrix One, The Mandrake, and Museum Hill Towers, adding 522,284 sq ft to the market. Despite this overall decrease,…