African tech startups secure $491.6 mn in funding in 2019
2019 also witnessed a 61% increase in the number of investors to reach 261...
Tag : Kenya
African tech companies invited to partner Britain-led growth scheme
With its startups generating 50% more venture capital in 2017 than in 2016, Africa is witnessing an exponential growth in the technology industry...
Why Kenya needs fewer banks
Around 80 percent of the profits made by the Kenyan banking sector go to the top five to six banks...
Kenya’s National Bank gets a Sh5bn lifeline from KCB Group
With a staggering Sh32bn in non-performing loans, the National Bank of Kenya was struggling to stay afloat...
Kenya’s 4G Capital secures $2 mn to finance SMEs
The funding will be used by 4G Capital to increase its customer base in Kenya and Uganda...
Kenya Airways’ losses to increase by 25% despite restructuring
The carrier is expected to record a net loss of at least Sh7.3 bn in 2019...
Vodafone to turn M-Pesa into a bank to target Africa’s unbanked
Currently, M-Pesa accounts for 3.5% of Vodacom’s revenue...
Renewable energy now over 90% of Kenya’s energy mix
Kenya recently launched its new 50 MW solar plant to achieve the milestone...
Kenya insurtech Turaco raises $1.2 mn to upgrade operations
Investors that took part in the funding round include Gan Ventures, Mercy Corps Ventures and Musha Ventures...
Safaricom’s Mali to take on banks through mobile saving service
The new investment tool, powered by M-Pesa, will offer an interest rate of 10% per year...