Author: Khusoko

Singapore’s credit scoring fintech company, CredoLab has launched its operations in Kenya aiming to drive financial inclusion by credit scoring more people. Michel Massain, Sales for Europe and Africa at CredoLab says, “With the trend in Kenya of banks shifting from traditional banking halls to digital platforms, our alternative credit scoring technology is perfectly timed to help lenders provide access to sections of the population that have been traditionally financially excluded.” “You need a credit score to participate in the economy, but what about people who are new to credit and new to bank? How do they get a credit…

Kenya’s Interior Principal Secretary Karanja Kibicho testified in court that it was compulsory to have a national identification card for persons above 18 years and a birth certificate for under 18 for one’s data to be gathered under the National Integrated Information Management System (NIIMS). Dr. Kibicho testified before a three-judge bench composed of Justices Weldon Korir, Mumbi Ngugi and Pauline Nyamweya on Wednesday where lawyers representing the petitioners in the NIIMS case grilled him on a wide range of issues, including the safety of the data collected and its privacy practices among others. Kibicho told the court that the…

Cytonn Investments has said consolidation and revenue diversification will become important for Kenya’s banking sector going forward. The independent investments management firm said the continued diversification of the sector has witnessed a consistent relatively strong profitability growth, which has alleviated the effects of relatively slow funded income growth.  Further, consolidation has resulted in the successful remediation of collapsed banks and left fewer but well-capitalized players to be able to catalyse economic growth. Cytonn Investments made the comments when it released ‘Kenya Listed Banks H1’2019 Report’ with listed banks recording a 9.0% average increase in core Earnings per Share (EPS), compared…

(KQ)  and Oman Air have expanded their existing codeshare agreement connecting passengers through various gateways. In the agreement, KQ will allow Oman Air passengers to fly to specific African destinations beyond Nairobi to Entebbe and Johannesburg. “Similarly, Kenya Airways guests can now extend their travel beyond Muscat (Oman) to Karachi (Pakistan) and Lahore (Pakistan),” said KQ in a statement.  Kenya Airways Chief Commercial Officer Ursula Silling said, “Through this partnership, Kenya Airways extends its services to tourists as well as to those who are visiting friends and families, in Oman – through the cultural links that Oman shares with the…

Africa Practice East Africa Limited, a strategic advisory firm based in Nairobi has recognised as a Global Reporting Initiative (GRI) certified trainer in Kenya.   GRI set standards that help businesses and governments worldwide address in a data-driven and verifiable way, the management of their socio-economic and environmental impact.  “Africa Practice has taken this step to better guide our clients to create opportunities for positive impact and mitigate issues and manage their risks proactively. We support a variety of clients, each with a vast stakeholder universe, and who need guidance on how to mitigate above-ground risks through constructive stakeholder engagements and…

The Kenya Airports Authority board has appointed its general manager for finance Alex Gitari, as the acting managing director. He replaces Jonny Anderen who opted not to renew his contract. In a statement on Monday, board chairman Isaac Awuondo said Andersen had proceeded on leave, with his contract set to end on November 21. “I take this opportunity to thank Jonny for his contribution during his tenure as CEO,” Awuondo said. Andersen had worked for KAA since 2016. The recruitment process for a new MD begins on Tuesday.