Bwala Africa Group, a last mile logistics marketplace has secured KSh10 million financing from Stanbic Bank to venture into last mile logistics. With the Ksh 24m debt financing, Bwala Africa will roll out 8 new trucks from ISUZU East Africa, four directly funded by CFC and the other 4 funded internally by Bwala, bringing the cost of total invest to Ksh 23,000,000. The terms of the debt financing were not disclosed. “We have landed 3 major partnerships with Kenya’s top retail stores to power their last mile deliveries. The partners include Copia, Naivas, and Jumia which are by far the…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
Finserve has launched mKey, Africa’s first keyboard app converging social, and financial services into an integrated lifestyle called mKey. “mKey has been created to be relevant to people’s social lives and support fun conversations on any social media platform. It is a revolutionary keyboard app with a wide catalogue of customized yetumojis and gifs that will be constantly updated to capture the pulse of trending conversations, celebrating our Kenyan identity,” said Finserve Managing Director, Jack Ngare. “mKey is the most groundbreaking keyboard app out of Africa that blends the social and financial into an integrated lifestyle providing unparalleled convenience. Why…
Kenya scooped six awards in the sixth Annual Africa Magic Movie Awards (AMVCA’s) held in Lagos, Nigeria last weekend. “Congratulations to all winners! Kenya showed we are the pride of Africa and we’re proud of the contribution we make to keep our communities entertained, and our business has grown hand-in-hand with local economies by forging long-term partnerships with film-makers and entrepreneurs,” said MNet Channel Director, East and Southern Channels, Timothy Okwaro. The movie 18 Hours, inspired by true events won 3 awards including Best Overall Movie in Africa (Phoebe Ruguru), Best Movie East Africa (Phoebe Ruguru) and Best Picture Editor…
Safaricom will introduce the use of finger and facial recognition in enhancing new security measures to curb SIM fraud. In the event a SIM swap occurs, mobile money transactions will be suspended briefly to prevent fraudsters from accessing customer funds held in M-PESA accounts. “SIM fraud has been a huge pain point for our customers and we have taken these concerns very seriously. Our customers remain at the center of everything that we do and in the next couple of months, we will put in place measures that will help us address this issue as we also work closely with…
With increased customer complaints on data usage, Safaricom (NSE: SCOM) will in the next few months announce new data packages in line with their needs to improve their data experience. To address the data issue, Safaricom will unveil ways of enabling customers to manage their data usage by choosing their preferred internet speeds while browsing. “We have received numerous complaints from our customers that their data is being depleted too fast giving them a bad experience. My commitment to our customers going forward is that we will deliver a more transparent and user-friendly data experience,” said Bob Collymore, CEO, Safaricom.…
Kenya will retain duty-free and quota-free access for its exports to the United Kingdom post-Brexit. This was revealed by Theresa May, the UK Prime Minister during her visit to Kenya. She said she wants a smooth transition in the trading relationship between the two countries. “As Britain prepares to leave the European Union we are committed to a smooth transition that ensures continuity in our trading relationship with Kenya, ensuring Kenya retains its duty-free and quota-free access to the UK market,” May said on Thursday. President Uhuru Kenyatta in acknowledgment said, “I don’t see Brexit being detrimental to the strong trade…