Bill to save Kenyans over-burdened by the fintech-fuelled credit lending craze

Bill to save Kenyans over-burdened by the fintech-fuelled credit lending craze

Technology is a good thing, but it also comes with negative effects, Kenya is reputed as the as a pioneer of financial inclusion through its early adoption of a mobile money system such as M-Pesa that enables people to transfer cash and make payments on cell phones for the un-banked. However, lenders using the same mobile money technology to offer credit services to the banked and unbanked may be saddling borrowers with high interest rates…

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TPG Growth acquires stake in Kenya’s Cellulant for $47.5 million

TPG Growth acquires stake in Kenya’s Cellulant for $47.5 million

Africa’s fintech industry has won another big gold mine investment score after the Rise Fund, an impact fund run by private equity group TPG Growth, made its African first, leading a $47.5m deal to buy an unspecified stake in digital payments provider Cellulant. The deal, according to the Rise Fun, also included Endeavour Catalyst and Satya Capital, is the largest involving a fintech company that does business only in Africa. “Much of the [fintech investment]…

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Fezile Dhlamini was rejected by Uber & Taxify ten times, It inspired him to launch Green Scooter in South Africa

Fezile Dhlamini was rejected by Uber & Taxify ten times, It inspired him to launch Green Scooter in South Africa

Entrepreneurship is one of the biggest buzzwords in today’s vocabulary, almost every youth is looking to be the new Bill Gates, Steve Jobs or even nearer home Aliko Dangote, Strive Masiyiwa. Rarely have such opportunities come by on a silver platter, some like the amazing story of our entrepreneur of the Month Fezile Dhlamini, the Founder and Managing Director of South Africa’s only Green Scooter (PTY) Ltd truly inspire. Fezille set out to tell us how…

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Jamii Telecom becomes 5th Telco to launch 4G mobile network in Kenya

Jamii Telecom becomes 5th Telco to launch 4G mobile network in Kenya

Kenyan Internet service provider Jamii Telecom has launched its mobile service named Faiba 4G Mobile, becoming the 5th telecom operator to be licensed in the country. Jamii Telecom has reportedly invested US$25m into its infrastructure and its service includes mobile internet bundles that compete directly with current market heavyweights Safaricom, Airtel Kenya and Telkom Kenya. The telecom company’s bundles are priced at Kshs 50 for 1GB, Kshs 300 for 8GB up to 210 GB for…

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Digital Evolution Index Puts Kenya among top digitally advanced countries

Digital Evolution Index Puts Kenya among top digitally advanced countries

The world experiencing the rapid spreading of widespread Digital technology is widespread. At the moment, more people have access to a mobile phone than to a toilet while there are more mobile connections than people on the planet. The internet is leaderless and as such cross-border flows of digitally transmitted data have grown exponentiallt accounting for more than one-third of the increase in global GDP in 2014. In the other hand cross border capital and free…

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Largest dark web markets Hansa & AlphaBay shut down

Largest dark web markets Hansa & AlphaBay shut down

Two of the three largest dark web markets have been shut down by the US Department of Justice and Europol. The two authorities announced Thursday that AlphaBay and Hansa the worlds biggest dark web marketplaces that served thousands of customers trading illegal goods online have been taken down. AlphaBay had over 200,000 customers and more than 40,000 sellers peddling illegal goods. The website had 100,000 listings for sale at the time of the governments take down….

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Jamii Telcom May Soon Launch Faiba Money to Rival M-Pesa

Jamii Telcom May Soon Launch Faiba Money to Rival M-Pesa

Jamii Telecom signals preparations to launch its own mobile money platform to rival its competitors. The move may could be possible following its recent acquisition  of the 700MHz frequency that could allow the company widely known for its Faiba brand to operate 4G as well as mobile phone services with prefix 0747 on what the authority says is a “trial”. The June 2017 edition of the Industrial Property Journal  advert shows that Jamii Telecom has…

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Alibaba’s Jack Ma to visit Nairobi in his first trip to Africa

Alibaba’s Jack Ma to visit Nairobi in his first trip to Africa

The founder and executive chairman of Chinese e-commerce giant Alibaba Jack Ma, is visiting Nairobi on a two-day trip to Kenya beginning Monday next week. This will be the Jack Ma’s first visit to Africa according to an announcement from from the United Nations Conference on Trade and Development. The multi-billionaire tech-preneur of the internet-driven group, who is also UNCTAD special adviser on youth entrepreneurship and small business, will be also be enroute to a…

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Etisalat Closes Shop in Nigeria

Etisalat Closes Shop in Nigeria

Etisalat is divesting from Nigeria according to latest media reports. The Abu Dhabi owned telecommunications networks is said to have terminated its management agreement with the Nigerian arm and has thus given Etisalat Nigeria only three weeks to phase out the brand in the country. Hatem Dowidar, the CEO of Etisalat International, said today that there was no need for the brand to continue in the West African country after the collapse of the $1.2…

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Safaricom Pilots Photo IDs to Stop M-Pesa fraud

Safaricom Pilots Photo IDs to Stop M-Pesa fraud

Mobile money is one great solutions that has put Kenya on the global map. Started by Safaricom several years ago, M-Pesa transacts billions each month.The company has 28.1 million registered customers and 19 million active M-Pesa users. However as cases of identity theft and cyber crime increases, the company is constantly finding new ways to curb M-Pesa Fraud. Safaricom has announced that is has distributed over 25,000 pre-programmed smartphones to its M-Pesa agents to be…

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