News, Stories, Events, & Trends that shape the Eastern African region
Kenya, often referred to as the “Silicon Savannah” due to its growing influence in the world of information and communication technology (ICT), continues to strengthen its position as a global tech leader. Its forward-thinking policies, favorable investment climate, and a burgeoning population of tech-savvy youth have made it an attractive destination for some of the
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United Nations Secretary-General António Guterres made a significant announcement on Friday, appointing Claver Gatete of Rwanda as the incoming Executive Secretary of the United Nations Economic Commission for Africa (ECA). This appointment comes as a transition from the commendable tenure of Vera Songwe of Cameroon, the former Executive Secretary, and Antonio M. A. Pedro of
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Equity Group has entered into an ambitious Customer Business Agreement with Mastercard based on a shared vision of empowering customers and businesses across the East African region. This strategic partnership aims to provide customers various benefits by offering different Mastercard payment solutions, including World and World Elite cards, corporate cards, and virtual cards. Moreover, it
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Kenyan insurtech company Turaco is making strategic strides to extend its African presence. Recently, Turaco announced its acquisition of MicroEnsure Ghana, which marks its entry into the West African market. Established in 2019, Turaco has rapidly gained recognition for its innovative use of technology to provide affordable insurance solutions. This article will delve into the
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Nearly half of the 800 African survey participants have fallen victim to an online scam at least once, losing thousands of dollars in the process and compromising their personal data. This alarming statistic is one of the key findings of the KnowBe4 2023 Online Scams and Victims in Africa Report, which was just released. The
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African Development Bank President Akinwumi Adesina has announced a new $1 billion facility to accelerate climate financing for Africa’s youth businesses. The additional financing will boost YouthAdapt, a joint initiative between the Bank and the Global Centre on Adaptation. It invites young entrepreneurs and micro, small, and medium enterprises in Africa to submit innovative solutions
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Despite being largely responsible for the worsening climate crisis in East Africa, rich nations paid Ethiopia, Kenya, Somalia and South Sudan just $2.4 billion in climate-related development finance in 2021, in stark contrast to the $53.3 billion East Africa says it needs annually to meet its 2030 climate goals. Oxfam’s “Unfair Share” report published today,
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In the heart of Uganda’s urban hubs, supermarkets have transcended their traditional role as mere shopping destinations, emerging as pivotal contributors to the country’s economic development. Beyond the aisles stocked with essentials, these retail giants hold the potential to invigorate local economies, empower communities, and drive transformative change. Uganda’s Evolving Supermarket Landscape Amidst a global
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Growth In Assets Of 23% To Reach Kshs.1.645 trillion.
Net Loans Register 26% Growth
Subsidiaries Contribute 46% Total Assets And 45% Profit Before Tax
27.7% Return on Equity