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Jumia Kenya Kicks Off 10th Annual Black Friday

November 14, 2024

Jumia Kenya has kicked off its 10th Black Friday campaign, bringing exceptional discounts and unmatched deals to customers nationwide. Running from November 1st to November 30th, 2024, this year’s campaign offers discounts of up to 50 percent on over 10 million products across categories such as electronics, fashion, home appliances, and lifestyle items. The event promises to be the biggest retail highlight of the year, with customers eagerly awaiting these deals.

The campaign is backed by notable sponsors, including GARNIER, Xiaomi Technology, Tecno, Jameson, and Jambo Jet, who have partnered with Jumia to enhance this shopping event. The collaboration with these industry leaders reflects Jumia’s dedication to providing customers with quality products and diverse options, making this Black Friday an unmissable shopping opportunity.

Adding to the excitement, Jumia is offering enticing giveaways throughout November. A Toyota Auris, sponsored by NIVEA, stands as the grand prize, while L’Oréal is offering daily prizes valued at $7,751 (Ksh 1,000,000). These giveaways underscore Jumia’s commitment to giving back to its customers, elevating the Black Friday shopping experience with the chance to win high-value rewards.

To enhance convenience, Jumia has expanded its logistics network with over 240 active pick-up stations across Kenya, including the addition of 60 new locations this year. Vinod Goel, Regional CEO for East Africa, emphasized Jumia’s focus on accessibility, noting that the expanded network ensures more Kenyans can enjoy the benefits of online shopping. This development aligns with Jumia’s ongoing commitment to making e-commerce easier and more accessible for consumers throughout the country.

Beyond benefiting consumers, this campaign supports local businesses by giving them a platform to reach a larger audience, driving sales and entrepreneurship across Kenya. Jumia’s Black Friday not only boosts sales for vendors but also aligns with its mission to foster job creation and economic growth through e-commerce. Since bringing Black Friday to Kenya in 2014, Jumia has played a pivotal role in transforming the online retail landscape, making digital shopping a trusted and popular choice for many.

This year’s Black Friday campaign reflects Jumia’s dedication to innovation and customer satisfaction. By combining significant discounts, exciting giveaways, and expanded services, Jumia continues to shape the future of e-commerce in Kenya, providing an inclusive and accessible shopping experience for all.

JumiaBlackFriday #BlackFriday2024 #Ecommerce #Kenya #Discounts #LocalBusinessSupport #Innovation #DigitalInclusion #RetailRevolution #CustomerExperience #OnlineShopping

Mastercard Signs 10Yr Digital Transformation with DTB

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November 14, 2024

Mastercard and Diamond Trust Bank (DTB) have entered into a groundbreaking 10-year partnership aimed at transforming the digital payments landscape across Kenya, Uganda, and Tanzania. This collaboration is set to revolutionize the banking and digital payment experience for individuals and businesses in the region by introducing secure, innovative, and convenient payment solutions. The initiative’s centerpiece is the launch of Kenya’s first tokenization-based payment wearables, developed in partnership with Tappy Technologies, which brings state-of-the-art contactless payment technology to consumers nationwide.

The introduction of tokenization-based payment wearables marks a major milestone in enhancing payment security. These wearables allow users to make quick, contactless payments by simply tapping their device at any enabled point-of-sale terminal. Powered by Mastercard’s Gemini Pro AI, the technology ensures that sensitive payment data is replaced with encrypted tokens, improving security and significantly lowering the risk of data breaches. This innovation not only enhances user convenience but also fosters digital literacy and financial inclusion, making advanced payment technologies accessible to a broader audience.

Mark Elliott, Division President for Africa at Mastercard, expressed his excitement about the collaboration, emphasizing the impact of these innovations. He stated, “We are thrilled to collaborate with Diamond Trust Bank and Tappy Technologies to launch these game-changing innovations. By combining our expertise in digital payment solutions with DTB’s strong market presence, we are enhancing the banking experience and providing customers with more secure and convenient ways to pay.” Nasim Devji, Group CEO of DTB, highlighted that the collaboration would significantly accelerate the bank’s digital transformation and expand its ability to deliver cutting-edge financial solutions to various client segments.

This strategic partnership reflects Mastercard and DTB’s shared commitment to driving digital transformation and promoting financial inclusion across East Africa. Mastercard data reveals that one in nine transactions at point-of-sale terminals in the Middle East and Africa region is contactless, underscoring the growing demand for secure and efficient payment solutions. The collaboration between Mastercard and DTB is poised to deliver significant benefits, such as enhanced consumer convenience and security, faster checkout experiences for merchants, and increased transaction volumes for financial institutions.

For fintech companies, the partnership offers the potential for greater customer adoption by leveraging innovative solutions like wearables. The collaboration promises to boost the growth of the financial ecosystem in the region, making payment solutions more accessible and secure while driving economic progress. Both Mastercard and DTB are determined to lead the charge in the region’s digital revolution, paving the way for a more inclusive and technologically advanced financial environment.

With the strategic backing of two industry leaders, this partnership is set to transform the digital payments landscape across East Africa. By offering consumers and businesses secure, convenient, and innovative payment solutions, Mastercard and DTB are positioning themselves at the forefront of the region’s digital transformation, delivering solutions that will empower individuals and drive sustainable growth.

Mastercard #DiamondTrustBank #DTB #DigitalTransformation #FinancialInclusion #ContactlessPayments #AI #Wearables #SecurePayments #EastAfrica #InnovativeSolutions #Fintech #DigitalBanking #FinancialServices

Kenya’s Amputee Women to Clash Against Colombia in World Cup Semis

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November 14, 2024

The Kenya Women’s Amputee Football Team is making history at the ongoing Women’s Amputee Football World Cup in Barranquilla, Colombia. After a hard-fought 1-0 victory over Ukraine in the quarter-finals, Kenya has secured its spot in the semi-finals, where they will face the host nation, Colombia. This remarkable achievement follows an impressive group stage performance, where Kenya went undefeated with victories over England and Peru, alongside a draw against Haiti.

Kenya’s impressive journey to the semi-finals highlights their resilience and determination. The team has demonstrated exceptional skill throughout the tournament, proving themselves as a formidable force in the world of amputee football. The victory against Ukraine was a testament to their relentless spirit and tactical discipline, further solidifying their place among the tournament’s top contenders.

Colombia, on the other hand, is also a strong competitor, having triumphed 4-0 over Peru in their quarter-final. As the host nation, Colombia is filled with confidence and ambition, eager to make their mark on home soil. Their performance so far has been dominant, and they are set to provide a tough challenge for Kenya in the semi-final clash.

In the other semi-final, the USA will square off against Poland, following narrow victories over England and Ecuador, respectively. The competition has been fierce, and the matchups in the semi-finals promise thrilling encounters that will showcase the very best of women’s amputee football on the global stage.

This Women’s Amputee Football World Cup marks a historic milestone as the first-ever tournament of its kind. The teams, including Kenya, Colombia, the USA, Poland, and others, are not only competing for glory but also raising awareness about the incredible capabilities of women with disabilities in sports. Their participation is a powerful testament to their resilience, strength, and unwavering commitment to achieving greatness.

Kenya’s journey through this competition is a source of immense pride and inspiration, demonstrating the growing prominence of amputee football. The semi-final against Colombia is bound to be a memorable and hard-fought battle, and the entire world will be watching as Kenya continues to break barriers and make history.

KenyaWomenAmputeeFootball #WomensAmputeeFootballWorldCup #ResilienceInSport #WomenInSports #DisabilitySports #AmputeeFootball #Kenya #Colombia #WomenWithDisabilities #Inspiration #BreakingBarriers

CBK to Migrate Kenya’s Payment System to ISO20022 Standard

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November 6, 2024

The Central Bank of Kenya (CBK) has successfully transitioned the Kenya Electronic Payment and Settlement System (KEPSS) to the ISO20022 Global Messaging Standard. This migration positions Kenya as a competitive destination for large-value payment systems, aligning with global financial messaging standards. The ISO20022 Standard is designed to enhance the efficiency and security of financial transactions, making it a critical upgrade for Kenya’s payment infrastructure.

With the adoption of the ISO20022 Standard, Kenyans will benefit from improved services, particularly in large-value cross-border transactions. The new data format aims to address existing challenges in the payment system by providing richer data that aids in fraud monitoring and detection. This advancement is expected to streamline the payment process, reducing complexity while increasing efficiency for both consumers and businesses.

The enhanced interoperability between local and international payment systems is another significant benefit of the migration, facilitating easier cross-border transactions. This aligns with the National Payments Strategy 2022-2025, emphasizing the importance of modernizing Kenya’s National Payment Systems (NPS) to meet the evolving economic needs and support the nation’s vision of becoming a global financial hub.

CBK has encouraged banks to inform their customers about these developments and assist them in transitioning to the new system. This collaborative effort aims to ensure uninterrupted service and enhance the overall payments infrastructure in Kenya. As the backbone of the country’s domestic and regional payment transactions, KEPSS has processed over 5.3 million transactions valued at over Ksh 45 trillion between August 2023 and August 2024, highlighting its crucial role in Kenya’s financial ecosystem.

Rajeev Suri Appointed as New Chairperson of M-Kopa

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November 6, 2024

M-KOPA, an emerging markets fintech company, has appointed Rajeev Suri as the new chairman of its board, effective December 1, 2024. Suri takes over from Elizabeth Littlefield, who has led the board for the past six years. With Suri’s extensive experience in technology and telecommunications, M-KOPA aims to leverage his expertise to enhance its operations in key markets including Kenya, Uganda, Nigeria, Ghana, and South Africa.

Rajeev Suri is a recognized leader in the tech industry, having previously served as CEO of Nokia and Inmarsat. He is also currently the chairperson of Digicel Group and a board director at Singtel. Jesse Moore, CEO and co-founder of M-KOPA, expressed confidence that Suri’s executive leadership and board experience will be instrumental in driving the company’s growth and expanding its market reach.

Under Suri’s leadership, M-KOPA aims to continue its rapid growth trajectory, having already achieved significant scale with over 5 million customers and more than US$1.5 billion in credit deployed across its five markets. The company is committed to providing financed smartphones to underbanked populations, addressing a critical need for digital and financial inclusion in emerging markets.

Commenting on his new role, Suri emphasized the exciting potential of M-KOPA’s fintech model, which utilizes advanced technologies and AI to tackle challenges related to financial access. His vision aligns with M-KOPA’s mission to transform consumer experiences in emerging markets, positioning the company for future success.

Murali Natrajan Joins DTB as the New CEO For Kenya From 1st November

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November 6, 2024

Murali Natrajan has been appointed as the new CEO of Diamond Trust Bank Kenya, effective November 1, succeeding Nasim Devji, who has held the position of Managing Director for over 20 years. Natarajan brings a wealth of experience to the role, having previously served as the Managing Director and CEO of DCB Bank Ltd since April 2009, where he transformed the institution from a loss-making entity into a leading private sector bank in India. His extensive background encompasses over 40 years in global banking, with a focus on retail and SME banking, including significant expertise in areas such as credit risk management, operations, and technology.

During his tenure at DCB Bank, Natarajan implemented a resilient growth strategy that resulted in impressive financial metrics, including a six-fold increase in the bank’s balance sheet and income over a decade. His leadership earned DCB Bank numerous accolades, including recognition as the “Best Small Bank” in 2017 and “Fastest Growing Small Bank – Runner Up” in 2018. Natarajan’s strategic vision and operational excellence are expected to be vital in guiding DTB Kenya as it aims to enhance its regional footprint and adapt to the evolving banking landscape.

As DTB Kenya embarks on this new chapter, Natarajan’s international experience across various markets, including Hong Kong, Singapore, and South Korea, positions him well to drive the bank’s growth strategy and focus on customer-centric services. His appointment comes at a pivotal time, as the bank seeks to strengthen its management structure and expand its services across East Africa, responding to the dynamic needs of its clientele.

The DTB fraternity anticipates that Natarajan’s leadership will usher in a new era of innovation and growth, further enhancing the bank’s reputation as a top-tier, digitally-driven financial institution. His strategic insights and commitment to fostering a customer-centric approach will play a crucial role in advancing DTB’s objectives and maintaining its competitive edge in the market.

Mastercard Signs 10Yr Digital Transformation Partnership with DTB

Author

November 6, 2024

Mastercard and Diamond Trust Bank (DTB) have entered a landmark 10-year partnership to deliver customized digital payment solutions across Kenya, Uganda, and Tanzania. This collaboration aims to revolutionize the digital and banking experience for both individuals and businesses in the region by introducing innovative, secure, and convenient payment options. Central to this initiative is the launch of Kenya’s first tokenization-based payment wearables, developed in partnership with Tappy Technologies, which brings cutting-edge contactless technology to consumers nationwide.

The introduction of tokenization-based payment wearables marks a significant advancement in secure payment methods. These wearables allow users to make contactless payments effortlessly by simply tapping their device at any enabled point-of-sale terminal. Utilizing Mastercard’s Gemini Pro AI, the technology ensures that sensitive payment data is replaced with encrypted tokens, providing enhanced security and reducing the risk of data breaches. This innovation not only enhances user convenience but also promotes digital literacy and financial inclusion by making advanced payment technologies more accessible to a broader audience.

Mark Elliott, Division President for Africa at Mastercard, expressed his enthusiasm for the collaboration, stating, “We are thrilled to collaborate with Diamond Trust Bank and Tappy Technologies to launch these game-changing innovations. By combining our expertise in digital payment solutions with DTB’s strong market presence, we are enhancing the banking experience and providing customers with more secure and convenient ways to pay.” Nasim Devji, Group CEO of DTB, added, “This collaboration with Mastercard will help accelerate our digital transformation journey and significantly enhance our ability to deliver innovative financial solutions to our retail, SME, corporate, and fintech clients.”

This strategic partnership underscores Mastercard and DTB’s commitment to driving digital transformation and financial inclusion across East Africa. According to Mastercard data, one in nine transactions at point-of-sale terminals in the MEA region is contactless, highlighting the growing demand for secure and convenient payment solutions. The collaboration is set to deliver substantial benefits across the financial ecosystem, including enhanced consumer convenience and security, faster checkout experiences for merchants, increased transaction volumes for financial institutions, and greater customer adoption for fintechs through innovative solutions like wearables. Together, Mastercard and DTB are poised to lead the region’s digital revolution, fostering a more inclusive and technologically advanced financial landscape.

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