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Enzi Mobility Secures $3.5M to Boost Clean Transport

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Enzi Mobility, one of Kenya’s leading e-mobility innovators, has secured USD 3.5 million in new funding through a strategic partnership with blockchain investment firm Kula PCC. The collaboration marks a significant step toward advancing clean, sustainable transportation solutions across East Africa, reinforcing Enzi’s position at the forefront of the region’s green mobility revolution.

Under the agreement, Kula PCC will inject USD 2 million in equity and an additional USD 1.5 million to support blockchain technology integration. This dual investment will not only strengthen Enzi’s operational growth but also enhance governance, transparency, and impact tracking through blockchain innovation—an important milestone in the intersection of clean mobility and decentralized finance.

The funding will drive the next phase of Enzi’s expansion, particularly in scaling its affordable e-motorbike and battery-swapping infrastructure. By leveraging blockchain-enabled systems, Enzi aims to create an inclusive ecosystem where riders and communities can benefit directly through participation and ownership models. The introduction of $ENZI, a community voting token, and $BODA, a rewards token for riders, will empower users and foster greater stakeholder engagement across the value chain.

According to Enzi Mobility CEO Bill Schafer, the investment reaffirms confidence in Enzi’s long-term vision of building sustainable transport networks that combine technology, affordability, and environmental responsibility. The company’s goal is to make motorcycle transport cleaner and more efficient while enabling riders to reduce operating costs and enhance their livelihoods.

This partnership signifies more than just financial growth—it represents a forward-looking collaboration between clean tech and blockchain to shape the future of mobility in Africa. By aligning innovation with impact, Enzi Mobility continues to drive meaningful progress toward a low-carbon economy and a more connected, sustainable transport ecosystem.

Equity Group First NSE-listed Bank to Hit KSh250B Valuation

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Equity Group has achieved a historic milestone, becoming the first listed bank on the Nairobi Securities Exchange (NSE) to surpass a market capitalization of KSh 250 billion. This remarkable feat, recorded on Friday, October 31, 2025, follows a 9.5% surge in its share price over just two days — from KSh 60.50 to KSh 66.25 — driven by strong investor confidence and the release of record-breaking Q3 2025 financial results.

The bank’s Q3 2025 profit after tax stood at KSh 54.1 billion, surpassing its entire 2024 full-year profit of KSh 48.8 billion. This growth was underpinned by higher net interest income, robust fee and commission earnings, and disciplined cost management across regional subsidiaries, with credit quality indicators maintaining stability. The results reaffirm Equity’s position as a market leader and a benchmark for operational excellence in the banking sector.

Since listing on the NSE in 2006, Equity Group has built a legacy of consistent value creation for shareholders. Through a 2-for-1 bonus issue in 2007 and a 10-for-1 share split in 2009, the bank has significantly multiplied investor holdings — turning one original share at listing into 30 shares today. Over the years, the bank has distributed a total of KSh 39.50 per current share in dividends, translating to KSh 1,185 in cumulative dividends on an initial position, while the current market value of that same position now stands at KSh 1,987.50. Combined, this represents an impressive KSh 3,172.50 in total value created per original share.

During the investor briefing, Group CEO Dr. James Mwangi attributed this milestone to the enduring strength of the Equity brand, stating that “this is not about balance sheet size; it is about brand value.” He emphasized that Equity’s success stems from trust, customer loyalty, and the ability to deliver impactful financial solutions across markets. Dr. Mwangi highlighted that people invest in the brand before they invest in the product, underscoring the intangible value Equity continues to build within the region.

With a year-to-date share price gain of 37.2%, Equity Group stands among the best-performing banking stocks in a sector-wide rally that has seen peers like NCBA and KCB also post significant growth. As the region’s most valuable banking brand, Equity’s achievement marks not just a financial milestone, but a testament to strategic leadership, innovation, and resilience in a dynamic market environment.

KCB Set to Acquire Minority Stake in Pesapal

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KCB Group has announced plans to acquire a minority stake in Pesapal, one of Kenya’s leading digital payment service providers, marking a major step in its broader strategy to diversify beyond traditional banking. The acquisition, which is pending approval from the Central Bank of Kenya, signals the bank’s intention to deepen its footprint in the fast-evolving digital payments ecosystem and strengthen its presence in the financial technology space.

Pesapal, founded in 2009 by Agosta Liko, has become a key player in East Africa’s payment infrastructure, providing online, mobile, and in-store payment solutions across multiple countries including Kenya, Uganda, Tanzania, Rwanda, Zambia, Zimbabwe, and Malawi. Its integration with major payment channels such as M-Pesa, Airtel Money, Visa, and Mastercard has enabled seamless transactions for individuals and businesses, supporting the region’s transition toward a cashless economy.

Through this partnership, KCB seeks to leverage Pesapal’s technology and extensive merchant network to create innovative payment solutions tailored for small and micro enterprises in Kenya. This move reflects KCB’s continued commitment to driving financial inclusion by empowering entrepreneurs and consumers with modern, convenient, and affordable payment options. The acquisition will also enable KCB to tap into Pesapal’s growing customer base and enhance its digital service delivery.

This is not the first time KCB has turned to strategic acquisitions to strengthen its market position. In 2022, the bank acquired Trust Merchant Bank in the Democratic Republic of Congo, expanding its footprint across seven countries in East and Central Africa. With over 30 million customers, KCB remains one of the region’s most influential financial institutions, constantly innovating to adapt to changing customer behaviors and technological advancements.

As mobile money continues to dominate financial transactions—with 47.7 million active subscriptions in Kenya alone as of June 2025—the partnership between KCB and Pesapal is poised to reshape how digital payments are delivered and accessed. By combining KCB’s scale and financial strength with Pesapal’s fintech agility, the collaboration is set to redefine the future of banking and payments in the region.

KCB, KenInvest Partner to Enhance Investor Support

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KCB Bank Kenya has entered into a strategic partnership with the Kenya Investment Authority (Invest Kenya) to strengthen investor facilitation and support foreign businesses establishing or expanding operations in Kenya. The collaboration is designed to streamline the investment journey by providing efficient financial services, advisory support, and tailored solutions that enable investors to navigate Kenya’s dynamic business environment with ease.

The partnership focuses on delivering integrated solutions across high-impact sectors such as manufacturing, renewable energy, infrastructure, and ICT. Through this initiative, international investors will gain access to a comprehensive suite of services, including payments and transaction support, investment and project financing, trade facilitation, and linkages with credible local partners—helping them scale faster and more sustainably.

According to KCB Bank Kenya Managing Director, Mrs. Annastacia Kimtai, the bank recognizes the critical role foreign direct investment plays in driving economic growth, job creation, and innovation. She noted that the partnership with Invest Kenya will empower investors through tailor-made banking solutions designed to enhance operational efficiency and promote long-term investment confidence in the Kenyan market.

Invest Kenya’s Chief Executive Officer, Mr. John Mwendwa, emphasized that the collaboration represents a key milestone in strengthening Kenya’s investment facilitation framework. By leveraging KCB’s vast financial expertise and extensive reach, the partnership aims to boost investor confidence and accelerate the inflow of high-value investments across diverse sectors, reinforcing Kenya’s position as a preferred investment hub in Africa.

KCB Bank continues to play a pivotal role in supporting Kenya’s economic agenda by building strategic partnerships that foster sustainable growth. Through this alliance, both institutions reaffirm their commitment to driving inclusive development, enhancing investor experiences, and unlocking new opportunities that position Kenya as a leading destination for global investment.

Angola, Kenya Sign MoU to Boost ICT

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Kenya and Angola have signed a landmark Memorandum of Understanding (MoU) to strengthen cooperation in the fields of ICT, digital economy, and innovation. The agreement focuses on key areas including technology advancement, satellite networks, ICT training, rural connectivity, cybersecurity, and digital literacy—laying the foundation for enhanced collaboration that will accelerate digital transformation across both nations.

The MoU was formalized during a high-level meeting attended by Kenya’s Cabinet Secretary for National Treasury and Planning, John Mbadi, Angola’s Minister of Telecommunications, Information Technologies, and Social Communication, and Kenya’s Ambassador to Angola, Joyce Khasimwa M’maitsi. The agreement represents a major step toward deepening Kenya–Angola bilateral relations, with technical teams from both countries expected to begin implementing joint initiatives immediately.

Kenya’s Principal Secretary for ICT and Digital Economy, John Tanui, also played a significant role in representing Kenya during the Transformative Week for Financing Africa’s Infrastructure Development held in Angola. His participation underscored Kenya’s leadership in digital policy and infrastructure growth, as he engaged in ministerial dialogues, strategic bilaterals, and interactions with the Kenyan diaspora community in Angola.

In his reflections, PS Tanui highlighted that the summit reaffirmed Africa’s collective commitment to accelerate digital transformation and unlock new avenues for infrastructure financing. He emphasized Kenya’s success in expanding broadband coverage, promoting digital public services, and adopting innovative blended financing models to support large-scale digital infrastructure projects.

Key discussions during the summit centered on broadband expansion, policy and public-private partnership reforms to attract investors, and capital mobilisation for critical infrastructure such as data centres, fibre connectivity, and Internet Exchange Points (IXPs). The engagements reinforced a shared vision that digital infrastructure remains a powerful driver of Africa’s economic growth, job creation, and cross-border trade.

Samir Ibrahim named to 2025 TIME100 Climate list

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Samir Ibrahim has been honored as one of the 2025 TIME100Climate leaders—a recognition amidst an extraordinary group of change-makers committed to tackling the climate crisis head-on. His inclusion in this prestigious list underscores the powerful impact of his work, and shines a spotlight not just on SunCulture, but on the broader opportunity to pair high-impact climate solutions with market-leading returns in emerging growth economies.

At SunCulture, Samir and his team are revolutionizing small-holder agriculture across Africa with agro-solar systems that deliver water, irrigation, lighting and mobile charging—off-grid and climate-resilient. With these systems, tens of thousands of farmers have seen increased crop yields and reduced water consumption—an essential dual benefit in an era of climate change and resource constraints.

Reflecting on the climate action needed now, Samir emphasizes that too much time and capital are chasing new ideas, while proven solutions remain underfunded. His call: governments and investors must prioritize scaling technologies that already work. In his view, the climate can’t wait for perfection—we need measurable progress today.

He also highlights ecosystem restoration as a critical climate solution often overlooked. The challenge, he says, lies in aligning financial incentives for long-term returns. By shifting incentive structures—such as harnessing carbon markets—we can channel investment into nature-based solutions with powerful climate and social outcomes.

Looking ahead to the next COP or global climate dialogue, Samir’s message is clear: adaptation doesn’t require trillions of dollars—it demands targeted investment in scalable, proven solutions. He points to SunCulture’s Kenya National Food Security Program—which plans to deploy 274,000 solar irrigation systems in five years, improve one million lives, create 411,000 jobs and produce 7.1 m metric tonnes of food—as a blueprint for impact. This recognition isn’t just about accolades—it’s about momentum, proving that climate action and economic returns can go hand in hand.

Stephen Chege Appointed New Group Chief External Affairs Officer at Safaricom

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Safaricom has announced the appointment of Stephen Chege as the new Group Chief External Affairs Officer, marking a significant evolution in its leadership and strategic focus. Reporting directly to the Group CEO, Steve will oversee an expanded portfolio covering regulatory and external affairs, public policy, corporate communications, media relations, corporate social investment, ESG, sustainability, and purpose integration across the Group — including its operations in Ethiopia. This appointment underscores Safaricom’s commitment to purpose-led transformation and strengthening its role as a technology enabler in Africa.

Steve brings extensive experience from his previous role at Vodacom Group, where he served as Chief External Affairs Officer and led external affairs across eight African markets, including Kenya. His leadership in securing critical operating licences, navigating tax and spectrum negotiations, driving policy reform, and shaping ESG strategy has earned him recognition as a forward-thinking industry executive. His return to Safaricom highlights the company’s emphasis on regulatory excellence, stakeholder engagement, and reputational leadership in the digital economy.

In his expanded role, Steve will lead Safaricom’s efforts to align external and internal stakeholders with the company’s strategic priorities in regulation, sustainable business practices, digital inclusion, and corporate citizenship. His responsibility will span across Safaricom Kenya and Safaricom Ethiopia, reinforcing the company’s presence and purpose-driven strategy across the region. Stewart’s appointment reflects Safaricom’s intention to embed transparency, accountability, and impact into every facet of its operations.

This leadership appointment comes at a critical time for Safaricom, as the company continues to expand its digital services, fintech capabilities, and regional ventures. His expertise in public policy, stakeholder relations, ESG reporting, and strategic communications will help ensure that Safaricom navigates regulatory landscapes and strengthens its values-based approach to business. By anchoring its external affairs function to experienced leadership, Safaricom is positioning itself to lead in African technology and innovation.

As Safaricom celebrates 25 years of connectivity and transformation, Steve’s appointment resonates with the company’s mission of transforming lives through purpose and technology. His track record of driving meaningful impact, building high-performing teams, and navigating complex regulatory environments will be instrumental in advancing Safaricom’s vision of a connected, inclusive, and digitally empowered Africa.

Choice Bank, Safaricom Partner to Enhance Kenya Remittances

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Choice Bank and Safaricom PLC have announced a landmark partnership designed to enhance international remittance services in Kenya. Through this collaboration, Choice Bank will leverage Safaricom’s established and secure remittance payment infrastructure to enable last-mile payouts to mobile wallets—fully regulated by the Central Bank of Kenya. This initiative signifies a major step forward in delivering seamless, API-driven banking and payment solutions across Africa.

The integration simplifies remittance flows for both global and local partners, allowing remittance providers and fintechs to reach Kenyan customers directly and securely. By plugging into Safaricom’s expansive mobile wallet network, Choice Bank opens an efficient gateway for funds moving into Kenya—reducing settlement time and operational friction for inbound transfers.

This strategic move underscores both organisations’ commitment to financial inclusion and digital innovation. Safaricom, already a leader in mobile money with millions of wallet holders, brings its trusted infrastructure; Choice Bank brings its expertise in digital banking for businesses, SMEs and individuals. Together, they are enabling an ecosystem where remittances are faster, more accessible and more cost-efficient for end users.

The partnership also aligns with broader industry trends where cross-border payments are evolving away from traditional banking channels into mobile-first, wallet-centric models. Using API-banking and mobile payout technology, the collaboration promises to unlock new opportunities for remittance providers looking to expand into Kenya’s dynamic market while supporting the Central Bank’s regulatory oversight and consumer protection objectives.

For remittance providers, fintech platforms and global payments players looking to scale in Kenya, Choice Bank and Safaricom’s platform presents a ready-made infrastructure to build upon. The announcement invites interested partners to explore how they can integrate and leverage this enabler to serve Kenyan customers more effectively and create new flows of digital value across borders.

Tech Leaders Set to Gather in Naivasha for CIO100

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The 17th edition of the CIO100 Awards and Symposium, Africa’s premier technology leadership gathering, is set to take place from November 19 to 21, 2025, at Enashipai Resort & Spa in Naivasha. The highly anticipated event will bring together top IT and business leaders from across the continent to discuss emerging technologies and their impact on Africa’s digital transformation journey. Over the years, the symposium has become a defining platform for recognising excellence in innovation and the strategic adoption of technology to drive growth and efficiency.

Organised by CIO Africa under dx5, the event celebrates companies and individuals who have integrated technology to solve African challenges and transform business operations. During a pre-event teaser session held at Sarova Panafric Hotel in Nairobi, tech leaders, including Geoffrey “GG” Gitagia, CIO of the Year 2024 and Group IT Manager at Avenue Healthcare, and Timothy Laku, Fractional CIO/CTO, discussed the evolution of tech leadership in Africa. According to dx5 Director Andrew Karanja, the CIO100 Awards represent not just recognition but a commitment to fostering innovation and collaboration across the continent.

The symposium will also feature the launch of the CIO100 MegaTrends Report, which provides in-depth analysis and insights into the technologies shaping Africa’s business landscape. The report highlights how African companies are increasingly leveraging Cloud Computing, Artificial Intelligence, analytics, and cybersecurity to drive business value, efficiency, and innovation. Karanja noted that Africa’s tech leaders are not merely adopting global trends but are shaping their own, developing homegrown solutions that meet the continent’s unique needs and realities.

At the heart of the awards is the recognition of transformative leadership, exemplified by Geoffrey “GG” Gitagia’s award-winning project at Avenue Healthcare, which redefined patient onboarding by reducing the process to three minutes. The CIO of the Year Award celebrates leaders who successfully align technology with organisational strategy and impact. Previous winners include Moses Okundi of Absa Bank, Jaine Mwai of Standard Chartered Bank, and Kenneth Ogwang’ of Diageo, all of whom have demonstrated exceptional leadership in using technology as a strategic enabler.

This year’s CIO100 Symposium & Awards promises an engaging lineup of masterclasses, panel discussions, and networking sessions, culminating in a gala celebrating Africa’s top 100 technology leaders. With sponsorship from global and regional tech players including Google Cloud Africa, Nathan Claire Africa, and Africa Data Centres, the event underscores Africa’s growing position as a global technology frontier. It will serve as a crucial meeting point for CIOs, CTOs, and digital strategists shaping the continent’s next wave of technological innovation.

Flutterwave, Polygon Partner for Cross-border Payment Solutions

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Flutterwave, Africa’s leading payments infrastructure provider, has partnered with Polygon PoS—the premier blockchain network for payments and Real World Assets (RWA)—to revolutionize cross-border transactions across the continent. The collaboration positions Polygon as the default blockchain for Flutterwave’s new cross-border payments product, unlocking faster, cheaper, and more efficient financial flows across Africa and beyond.

The partnership marks a significant milestone for both companies, as Flutterwave, which has processed over $40 billion in transaction volume to date, integrates Polygon’s high-performance blockchain infrastructure to streamline settlement processes for businesses and individuals. The rollout begins in 2025 with a pilot for select Flutterwave for Business customers, before expanding to all Flutterwave for Business and Send App users in 2026.

According to Marc Boiron, CEO of Polygon Labs, stablecoins on Polygon can reduce settlement times from days to seconds while cutting transaction costs to mere pennies. This innovation offers a game-changing solution to the longstanding inefficiencies in cross-border payments, where high fees and slow processing times have hindered economic growth, especially in emerging markets.

Flutterwave CEO and Founder, Olugbenga “GB” Agboola, emphasized that the partnership is a critical step toward simplifying international payments for African enterprises. By leveraging Polygon’s scalability and efficiency, Flutterwave aims to make global transactions even more affordable and accessible than many local alternatives. The first phase will focus on enterprise clients, followed by expansion into consumer remittances through Flutterwave’s Send App—bringing instant, affordable transfers to millions of users.

This partnership represents a blueprint for blockchain-powered financial inclusion in Africa. It addresses the pressing challenges of the $2 trillion global cross-border payments market, where emerging economies often face transaction fees exceeding 8%. By combining Flutterwave’s extensive reach in over 30 African countries with Polygon’s low-cost, near-instant infrastructure, the collaboration sets a new benchmark for innovation, accessibility, and efficiency in global payments.