Author: Muindi

The 2024 Think Business Banking Awards saw Kenya’s banking sector celebrate excellence and innovation.  KCB Bank Kenya emerged as a major winner taking home top honours in two key categories. KCB beat out Equity and Sidian for the top spot, reflecting their efforts in digital transformation and providing innovative financial solutions. In addition, KCB secured first place in Sustainable Corporate Social Responsibility ahead of Equity and I&M, showcasing their commitment to positive community impact. The lender was also the 1st Runner-Up: Best Retail Banking (behind Equity); and 2nd Runner-Up Best Bank in Tier 1 Category (behind Equity and Standard Chartered).…

The University of Nairobi (UoN) is proactively shaping its curriculum to address the critical needs of the future job market, both in technology and environmental sustainability. The institution says it is going to establish an Artificial Intelligence (AI) school.  This initiative aims to develop a skilled workforce through Kenya’s first-ever AI master’s degree program. UoN Chancellor, Prof. Patrick Verkooijen, emphasised the economic potential of AI and how the university is well-positioned for this endeavour.  “We have the top computer science and business students, and a strong focus on innovation, which creates a perfect foundation for this AI program,” he stated…

22 exceptional students from the 2023 Kenya Certificate of Secondary Education (KCSE) graduating class have been awarded a combined $7.5 million (KES 980 million) in scholarships to prestigious universities in the US and Canada by the Kenya Scholar Access Program (KenSAP). These scholars were chosen from all 47 Kenyan counties from underprivileged backgrounds but possess outstanding academic achievements.  They ranked among the top 0.1% of KCSE test-takers, demonstrating exceptional intellectual potential.  However, KenSAP’s selection process goes beyond grades. It considers family background, extracurricular activities, commitment to community development, and leadership potential, ensuring a well-rounded group. Preparation and Ongoing Support Prior…

UBA Kenya received $282 million (Sh37.5 billion)  from its Nigeria-based parent company, United Bank of Africa (UBA) Plc to offer loans to small and medium-sized enterprises over the next three years. The funding is part of a larger $6 billion (Sh789 billion) SME funding agreement that UBA signed with the African Free Trade Area (AfCFTA).  Mary Mulili, the Chief Executive at UBA Kenya, emphasised the importance of supporting SMEs, which contribute significantly to Kenya’s economy and employ over 90% of the total labour force. “We remain committed to supporting SMEs and we recognise the financing and market access gaps which we are stepping in to bridge.…

The OPPO A60, the latest addition to the A series smartphones, has been released in the Kenyan market. Designed to withstand every adventure, this phone combines style, functionality, and durability.  Ultra Bright Display: The OPPO A60 boasts a 950-nit Ultra Bright Display, ensuring vivid visuals even in bright sunlight. Whether you’re browsing, streaming, or gaming, the screen delivers an immersive experience. Dual Stereo Speakers: Say goodbye to mediocre audio quality. The A60 features Dual Stereo Speakers that provide rich sound. Plus, the Ultra Volume Mode lets you crank up the loudspeaker volume by up to 300%, ensuring you never miss…

KCB Group reported a 69% jump in net profit to KShs 16.5 billion in Q1 2024 from KShs 9.8 billion, reclaiming the top spot as East Africa’s most profitable bank by assets. Total revenues increased 31.6% to KShs 48.5 billion, driven by interest income and non-interest income. “The performance which was boosted by revenue growth across all the Group network also saw the balance sheet close the quarter at KShs.2.0 trillion, from KShs.1.6 trillion a similar period last year,” the lender said in a statement. Financial Highlights Profit Soars: Net profit surged 69% year-on-year to KShs 16.5 billion, reclaiming the top…