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Fred Okono: Visionary Leader Transforming Starehe Boys’ Centre and School

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By Amos Wachira As we navigate an era of economic uncertainty and widening inequality, microfinance continues to stand as a beacon of hope for millions around the world. This issue of Business insights Africa Magazine delves into the transformative power of small-scale financial services, showcasing how access to credit, savings, and insurance can uplift individuals, families, and entire communities. Microfinance is more than just loans—it’s a tool for empowerment. For low-income entrepreneurs, especially women, a small loan can mean the difference between subsistence and self-sufficiency. It enables a seamstress to buy her own sewing machine, a farmer to purchase better seeds, or a street vendor to expand her inventory. These seemingly modest investments create ripple effects, fostering local economies and breaking cycles of poverty. In this edition, we highlight inspiring stories of borrowers who have turned microloans into thriving businesses, proving that financial inclusion is key to sustainable development. Yet, the microfinance sector is not without its challenges. High interest rates, over-indebtedness, and regulatory hurdles remain pressing concerns. Critics argue that some institutions prioritize profits over social impact, risking the very mission they were founded to serve. We examine these issues head-on, featuring Dr. Patrick Gthondu, chief Executive of Bimas Kenya on responsible lending practices and the evolving role of fintech in making microfinance more transparent and accessible. One of the most exciting developments in recent years is the fusion of microfinance with digital technology. Mobile banking, blockchain, and AI-driven credit scoring are revolutionizing how financial services reach the unbanked. In our cover story, we explore how fintech startups like SasaPay are bridging gaps left by traditional institutions, particularly in remote and underserved regions. These innovations are not just changing microfinance—they’re redefining financial inclusion altogether. As we look to the future, the potential for microfinance to drive social change has never been greater. Climate resilience loans, education financing, and health-related microinsurance are emerging as critical tools in addressing global challenges. We must continue to advocate for ethical practices, investor accountability, and policies that prioritize the underserved. At Business Insights Africa, we believe that finance, when wielded with purpose, can be a force for good. Whether you’re an investor, practitioner, or simply someone passionate about economic justice, we invite you to engage with these stories, share your insights, and join the conversation on how microfinance can build a more equitable world. Thank you for reading, and for being part of this mission. editor@businessinsights.africa
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Commentary: Empowering Communities Through Microfinance

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SanlamAllianz Kenya Group CEO Dr Nyamemba Patrick Tumbo said the name change aligns the local business with the broader continental strategy. He noted that the life and general insurance subsidiaries will continue to be led by Jacqueline Karasha and George Kuria. “The rebrand heralds a new dawn for us as SanlamAllianz, enhancing our corporate commitment to advance our market effectiveness in the provision of quality, client-focused life and general insurance products,” he said, adding that the firm will tap into the wider SanlamAllianz resources and technical know-how to deliver exceptional services and solutions. SanlamAllianz CEO Heinie Werth said the group aims to rank among the top three insurers in all its markets and will support the Kenyan unit in pursuing this goal.
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SanlamAllianz Kenya targets top three insurance slot after rebranding

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Mars Wrigley to invest Kes4.3bn in new Kenya sugar-free gum line

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Kenya tightens digital insurance rules as Africa moves towards harmonised insurtech regulation
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Kenya tightens digital insurance rules as Africa moves towards harmonised insurtech...

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Kaspersky (www.Kaspersky.co.za) in collaboration with VDC Research announced that in the first three quarters of 2025 ransomware attacks on manufacturing organisations could have generated over $18 billion in losses. This figure reflects just the direct cost of an idle workforce during downtime, with overall operational and financial impacts far exceeding this amount. Estimations were made across APAC, Europe, the Middle East, Africa, CIS and LATAM based on the share of manufacturing organisations where ransomware attempts were detected and prevented, the total number of manufacturing organisations in each region, average downtime hours after real attacks, average number of employees per organisation and average hourly pay. According to Kaspersky Security Network from January to September 2025, the Middle East (7%) and Latin America (6.5%) led the regional rankings in terms of ransomware detections in manufacturing organisations. APAC (6.3%), Africa (5.8%), CIS (5.2%) and Europe (3.8%) followed. All of these attacks were blocked by Kaspersky solutions. The estimation of potential losses (below) shows the financial impact if these attacks succeeded. When ransomware hits, production lines halt, triggering immediate revenue losses from an idle workforce and longer-term shortfalls from reduced output. The average attack lasts 13 days (based on the Kaspersky Incident Response Report) (https://apo-opa.co/4pA9PUK). As a result, idle labour costs from ransomware in the first three quarters of 2025 could have reached: $11.5 billion in APAC $4.4 billion in Europe $711 million in LATAM $685 million in the Middle East $507 million in CIS $446 million in Africa Actual business losses could have been significantly higher when factoring in supply-chain disruptions, reputational damage, and recovery expenses. “Our research provides an estimation of the financial impact that ransomware may have had on manufacturing worldwide. The growing complexity of manufacturing environments, along with widening expertise gaps and ongoing labour challenges, makes it difficult for most organisations to manage cybersecurity effectively, but failure to do so may result in financial losses – followed by reputational blows as well. Partnering with proven cybersecurity vendors is paramount for effective IT, OT and IIoT protection,” comments Jared Weiner, Research Director, Industrial Automation & Sensors at VDC Research. “No region is exempt from ransomware – whether it’s the Middle East, LATAM, APAC, CIS, Africa or Europe, every manufacturing hub is constantly being targeted. Mid-tier manufacturers that could have been overlooked by threat actors in the past are also among the targets because their security budgets are smaller and their supply chain disruption effects can be larger than most realise. The manufacturing sector and all other organisations need reliable, proven defence systems and continuous user education,” comments Dmitry Galov, Head of Research Center for Russia and CIS at Kaspersky's GReAT. More information about ransomware in different regions is available in Kaspersky’s 2025 State of Ransomware Report (https://apo-opa.co/43LYE2H). Kaspersky encourages organisations to follow these best practices to safeguard from ransomware: Enable ransomware protection for all endpoints. There is a free Kaspersky Anti-Ransomware Tool for Business (https://apo-opa.co/48fN4xZ) that shields computers and servers from ransomware and other types of malware, prevents exploits and is compatible with already installed security solutions. For comprehensive protection of industrial and critical sectors, Kaspersky offers a distinctive ecosystem that seamlessly integrates dedicated OT-grade technologies, expert knowledge and invaluable expertise. At the core of this ecosystem is Kaspersky Industrial CyberSecurity (KICS) (https://apo-opa.co/3K8S27W), a native Extended Detection and Response (XDR) platform designed for critical infrastructure protection. It provides robust network traffic analysis, along with endpoint protection, detection and response capabilities. This comprehensive solution integrates traditional IT security measures with purpose-built industrial security technologies, ensuring that your company is well-equipped to face any threat. Companies from non-industrial sectors can protect themselves by installing anti-APT and EDR solutions that enable capabilities for advanced threat discovery and detection, investigation and timely remediation of incidents. Organisations can also provide their SOC teams with access to the latest threat intelligence (https://apo-opa.co/4oZWhSr) and regularly upskill them with professional training. All of the above is available within Kaspersky Next Expert (https://apo-opa.co/4rpBklE).
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Kaspersky and VDC Research reveal over $18B in potential losses from...

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The AFRICA24 Group offers you: International Forum of Dynamic Entrepreneurial Women...

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Cooperative Bank of South Sudan has tapped the United Nations Development Programme (UNDP) in what experts are calling one of the most ambitious attempts yet to bring modern finance into the country’s rural economy. The deal, part of the multi-donor Rural Enterprise and Agricultural Development project, aims to pull thousands of small farmers, women entrepreneurs and youth-run agribusinesses into the formal financial system—many of them for the first time. At the signing ceremony in Juba, Caroline Mwongera, the country director for the UN’s International Fund for Agricultural Development (IFAD), termed the deal a turning point. “This agreement represents a transformational step in strengthening South Sudan’s rural financial systems,” she said, adding that the project will use credit, cooperative development and financial literacy as tools for long-term rural transformation. Backed by a $20 million (Sh2.6 trillion) IFAD grant and additional contributions from the South Sudanese government, UNDP, Cooperative Bank and local communities, this brings the total funding to more than $25 million (Sh3.3 trillion). The initiative aims to reach 162,000 people across seven counties, with half expected to be women and 70 percent youth. Officials say the structure of the project reflects the realities of South Sudan’s farm economy, where many farmers still rely on informal savings groups, handwritten lending records and unstructured markets.
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Cooperative Bank, UNDP sign deal to boost rural finance

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Meet the Top 10 Heroes: Africa’s Business Heroes Gears for the 7th ABH Summit and Grand Finale in Kigali
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Meet the Top 10 Heroes: Africa’s Business Heroes Gears for the...

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The annual exclusive conference marked the celebration of 10 years of Canon Central and North Africa’s growth, expansion, and partner success across the continent. Canon showcased its new “Canon’s World Unseen: 2.0 – Coral” brand campaign and highlighted the coral-restoration partnership in Seychelles with Nature Seychelles and Coral Spawning Lab. Canon Central & North Africa (CCNA) (www.Canon-CNA.com), successfully concluded its Executive Circle Partner gathering, hosted on 3–4 November 2025 in Seychelles. Marking a decade since CCNA’s establishment, this milestone edition brought together strategic partners, executives, and industry leaders to reflect on achievements and align on future growth opportunities across the African continent. Established in 2016, Canon Central & North Africa was created to expand Canon’s presence across the African continent, forge deeper collaboration with partners, and accelerate regional growth. Over the past 10 transformative years, CCNA has strengthened Canon’s footprint across the African continent by expanding its operations and establishing a local presence in key markets. During this time, the organization has built a strong ecosystem of distributors, resellers, and channel partners, enhancing customer access to innovative imaging and print technologies. Additionally, CCNA has consistently delivered industry-leading service support and training programs, ensuring that partners and customers are equipped with the expertise and resources needed to succeed. Through strategic partnerships and localized market initiatives, CCNA has consistently driven business value and fostered meaningful relationships, ensuring that Canon’s portfolio, solutions, and expertise truly serve the needs of Africa. ICE: Canon’s Strategic Pillar – Innovation, Customer & Employee Experience This year, the Executive Circle continued to reinforce ICE—Innovation, Customer, and Employee Experience, as the strategic pillar guiding Canon’s regional direction. The focus is on driving innovation through new markets and product categories, enhancing customer engagement across every touchpoint, and empowering employees through ongoing development to better support partners and customers. “Our commitment to Africa goes beyond business, it is about collaboration, innovation, and shared growth,” said Somesh Adukia, Managing Director, Canon Central & North Africa. “As we celebrate 10 incredible years, we remain focused on enabling our partners, investing in our customers, and empowering our people. Together, we are shaping the future of imaging in Africa.” Canon Launches Global Brand Campaign: ‘Canon’s World Unseen 2.0 – Coral Campaign’ Unveiled during the conference, the new brand campaign - “Canon’s World Unseen: 2.0, showcases Canon’s commitment to storytelling and sustainability. The campaign reveals the breathtaking beauty of coral reefs, much of which remains unseen to the world, and uses photography and imaging technology to raise awareness about the urgent need to protect marine ecosystems. Hosting the Executive Circle in Seychelles, one of the world’s most pristine island nations, reflects Canon’s belief in the power of imagery to inspire change, creativity, and environmental stewardship. Earlier this year, Canon EMEA announced the pioneering sustainability initiative in partnership with Nature Seychelles, a leading environmental non-profit in the region, and Coral Spawning International (CSI), recognized pioneers in land-based coral reproduction and restoration. This collaboration underscores Canon’s commitment to sustainability and marine ecosystem preservation in Seychelles and beyond. As part of the event, we also took our partners to witness these efforts firsthand and gave them a guided tour of the project site, allowing them to see the tangible impact of this collaboration in action. This collaboration supports a first-of-its-kind coral restoration project in the Western Indian Ocean using an innovative coral regeneration method that strengthens reefs against climate change. The project leverages CSL’s groundbreaking expertise in coral spawning and Nature Seychelles’ deep environmental stewardship to protect and restore coral ecosystems at scale. Regional Growth, Collaboration and Recognition The Executive Circle aims to elevate partner collaboration and align strategic priorities across Africa. Through immersive discussions, knowledge-sharing, and business planning sessions, partners engaged directly with Canon’s leadership to accelerate collective growth and innovation in the region. To commemorate the conclusion of the conference, Canon hosted a gala dinner and awards ceremony, recognizing top-performing partners across B2B and B2C segments for their exceptional contribution to the business over the past year. The evening also featured the special 10th Anniversary Awards, honoring our partners who have been with us on this incredible journey for the past 10 years.
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Canon Central & North Africa Celebrates 10 Years of Growth and...

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