M-Pesa, the world’s leading mobile money service surged to a fresh record Tuesday reaching 50 million monthly active customers. This strengthens its position as Africa’s largest fintech since its launch more than 14 years ago in Kenya. M-PESA is today available in Kenya, Tanzania, Mozambique, DRC, Lesotho, Ghana and Egypt. “14 years ago, we launched M-PESA to connect our customers to each other and to different opportunities. We are delighted to celebrate this remarkable milestone with our more than 50 million customers across the continent. As an honour to this achievement, we are reiterating our commitment and deepening our focus…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
PwC Africa’s six key focus areas for The New Equation strategy are trust, growth, and value creation, ESG, digitisation, international development, and workforce.
Nigerian automotive tech company Autochek acquires Cheki Kenya and Cheki Uganda from Ringier One Africa Media, an online marketplaces company in Sub-Saharan Africa. In a statement, Autochek said the acquisition of Cheki is the next step to expand its footprint in East Africa and continue its mission to provide seamless access to auto financing across the continent. “We are long-time admirers and collaborators of the Cheki brand. Following today’s news, we intend to provide even more trust and transparency in East Africa’s automotive sector, leveraging the unique networks we are now joining together,” Etop Ikpe, Autochek founder/CEO said. Clemens Weitz,…
Kenya’s forex reserves continued to decline in the week ended September 3 by KSh11 billion to KSh977.1 billion. According to the latest CBK weekly bulletin, the reserves fell to $8.883billion(KSh977.1billion) from $8.986 billion (KSh988.4 billion) the previous week, a KSh11.3 billion decline. “The reserves are equivalent of 5.43 months of import cover. This meets the CBK’s statutory requirement to endeavor to maintain at least 4 months of import cover, and the EAC region’s convergence criteria of 4.5 months of import cover,” the Central bank said. Cytonn Investments notes that from August, the Kenya Shilling depreciated by 1.2% against the US Dollar to close…
Safaricom Foundation handed over an Endoscopic Ear Surgery equipment worth Kshs 3,859,293 to Operation Ear Drop Kenya (ODE-K) to support outreach programmes for the hearing impaired. The ceremony took place at Kenyatta University Teaching, Referral & Research Hospital (KUTRRH) during a free ear surgical camp which has been ongoing since Monday, 30th August. The partnership aims to provide preventive, surgical and rehabilitative services to the hearing impaired Kenyans who are unable to access these services due to financial problems, unavailability of specialized services in their areas and lack of appropriately trained health workers. At least 240 people in eight counties with…
Jonas Mushosho, former Chief Executive Officer at Old Mutual Zimbabwe, has joined Equity Group’s Board of Directors. He is currently a Director at Brooks & Oracle, a council member at Zimbabwe Open University and serves as a non-executive director at Delta Corporation. “We are delighted to bring on board Jonas as a new Non-Executive Director to the Group board. He brings a wealth of broad executive leadership experience in leading strategy implementation in a multi-national environment, which will be key as we seek to strengthen our regional subsidiaries,” Equity Group Chairman Prof. Isaac Macharia said. He replaces Christopher Newson following…