Kenyan Fintech Association United under One Umbrella Body
In a strategic move to further develop the fintech sector, five major representative associations have come together to form The Fintech Alliance (TFA). The alliance aims to drive the growth and development of the fintech industry, providing a unified voice for key players in the sector. This collaboration comes at a time when the sector is experiencing rapid growth, with increased regulations and investments reshaping the landscape.
Abhinav Nehra Appointed as New CEO and MD of CIB
CIB Kenya has announced the appointment of Abhinav Nehra as its new Chief Executive Officer (CEO) and Managing Director. Nehra, who brings over 30 years of experience in the banking and payments sector, is poised to lead the institution into its next phase of growth. His career spans across Africa, Asia, and other emerging markets, making him a highly experienced and well-rounded leader in the financial services industry.
Kenya’s Starlink Subscribers Double in Recent Report
Starlink’s impressive growth in Kenya has been highlighted in the latest quarterly report from the Communications Authority of Kenya (CA). In less than two years since its debut, Starlink has amassed over 16,700 subscribers, a remarkable increase from just 405 in June 2023 and 4,808 in March 2024. This rapid rise places the satellite internet service firmly in competition with established ISPs, such as Liquid Telecommunications Kenya and Vijiji Connect.
How AI is Advancing Kenya’s Medical Imaging
Kenya is experiencing a transformative revolution in healthcare through the adoption of artificial intelligence (AI) in medical imaging. With a stark shortage of radiologists—only about 200 serving a population of over 55 million—the healthcare sector faces significant diagnostic challenges. AI-powered tools are stepping in to bridge this gap, providing faster and more accurate diagnostics, especially in underserved rural areas where medical resources are limited.
William Kabongo Sworn in as ICT Cabinet Secretary
William Kabogo has officially assumed the role of Cabinet Secretary for the Ministry of Information, Communications, and the Digital Economy, marking a significant leadership transition for a critical government docket. His swearing-in ceremony, led by President William Ruto at State House, Nairobi, follows approval by the National Assembly. Kabogo steps into this role as the ministry grapples with challenges, having had three Cabinet Secretaries in less than two years.
M-pesa Integrates Pesalink Under New Central Bank Payment System
Safaricom’s M-Pesa is poised to transform Kenya’s digital payments landscape as it prepares to integrate with the Pesalink network. In a joint proposal with the Kenya Bankers Association (KBA) submitted to the Central Bank of Kenya (CBK), Safaricom aims to connect Kenya’s leading mobile money platform to the national interbank payment system. This move promises to create a more unified and seamless payments ecosystem for millions of Kenyans.
CcHUB Launches Creative Economy Incubator in Nairobi
The Creative Economy Practice (CEP) at CcHUB has launched the Content Creative Economy Incubator program alongside the unveiling of the CEP Entertainment Hub in Nairobi. This dedicated space, part of the Entertainment and Media Hubs Program, is designed to empower storytellers in film, TV, and the Creator Economy to create gender-equitable narratives that authentically represent both male and female perspectives. With a focus on shifting harmful gender norms, the program aims to foster better health and economic outcomes for adolescent girls and young women (AGYW) across Africa.
Kenya Set to Lead Generative AI Transformation
Kenya is on the brink of a Generative AI (GenAI) transformation, with business leaders expressing optimism about the technology’s potential to reshape industries and drive innovation. At the NTT DATA Clients Innovation Day in Nairobi, Chris Wiggett, Head of Artificial Intelligence, Data, and Analytics at NTT DATA in the Middle East and Africa, emphasized the importance of a holistic approach to realizing GenAI’s potential in Kenya and the East African region. However, to fully capitalize on this groundbreaking technology, Kenya must address challenges such as legacy infrastructure, skills shortages, and regulatory gaps.
Safaricom Secures Approval to Launch Second MMF, Ziidi
Kenya’s Capital Markets Authority (CMA) has approved Safaricom’s second money market product, Ziidi, marking a significant milestone in Kenya’s financial inclusion journey. Offered in partnership with Standard Investment Bank, ALA Capital Limited, and Sanlam Investments East Africa Limited, Ziidi responds to the growing demand for accessible and digital-first investment opportunities in Kenya’s fast-evolving financial landscape.
Google Contributed $900M to Kenya’s Economy 2023
Kenya’s digital economy is on a transformative trajectory, with recent findings from The Digital Opportunity of Kenya report highlighting the nation’s progress as a digital leader in Africa. Conducted by Public First and supported by the Ministry of ICT, Google, and other key stakeholders, the report underscores how technology is driving economic value and shaping the future of the nation.
