Stanbic Bank in deal to boost market access

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Stanbic Bank in deal to boost market access

Special Correspondent - June 18, 2018

Stanbic Bank Kenya has signed a memorandum of understanding with a Singapore-based fintech firm to boost its digital trade finance platform. The deal with CCR...

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Humphrey Asiimwe, CEO, Uganda Chamber of Energy and Minerals (UCEM) will speak at this year’s African Energy Week (AEW): Invest in African Energies 2025, which returns to Cape Town from September 29 to October 3. With extensive experience in energy policy, local content development and regional cooperation, Asiimwe is set to provide key insights into Uganda’s expanding oil, gas and mineral sectors and the private sector’s role in driving sustainable industrial growth. His participate comes as Uganda’s energy and minerals sectors continue to gain momentum. In the oil and gas industry, the East African Crude Oil Pipeline has surpassed 58% overall progress, with engineering works nearly complete and over 2,400 personnel – 90% of them Ugandan – employed on the project. The 1,443-km heated pipeline – set to be the longest of its kind globally – will transport crude oil from Uganda’s Lake Albert basin to Tanzania’s Port of Tanga, positioning Uganda as a regional oil producer. AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event. Uganda’s mining industry is also undergoing a significant transformation. The country recently signed its first-ever Mineral Production Sharing Agreement for the redevelopment of the Kilembe copper-cobalt mine and launched a state-owned mining company to manage equity interests and promote domestic value addition. Uganda is seeking strategic partnerships and private investment to unlock large deposits of gold, copper, cobalt and rare earth elements, critical for clean energy technologies. Under Asiimwe’s leadership, UCEM has helped secure over $2.1 billion in local oil and gas contracts for Ugandan companies and facilitated the training of over 7,000 nationals in petroleum-related fields. He continues to champion policy harmonization across East Africa to unlock financing opportunities, enable small- and medium-sized enterprise participation and enhance regional cooperation. “Humphrey Asiimwe has played a central role in driving local participation, aligning regional policies and shaping sustainable energy growth through strategic partnerships and private sector leadership. His efforts have created real opportunities for Ugandan businesses and workers alike and he continues to be a key voice for local empowerment and long-term industrialization in East Africa,” states Tomás Gerbasio, VP of Commercial and Strategic Engagement, African Energy chamber.

Uganda’s Energy Future to Take Center Stage with Uganda Chamber of...

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Sinotruk, known for its affordable quality trucks in the tipper and prime mover segments, is expanding its offerings by introducing light and medium duty vehicles aimed at strengthening its market dominance across the segment. The trucks which include the Sinotruck H2 (light duty) and H3 (medium duty) models are set to revolutionize the transportation industry. These models offer higher payload capacities and larger fuel tanks, reducing the need for frequent refueling and enabling longer hauls, which translates to overall fuel cost savings. Additionally, they are affordable with higher horsepower, delivering strong performance, with enhanced driver comfort and additional features such as air suspension seats and sleeper cabins. With proven reliability and long-term durability, these trucks stand out as leading options in the light and medium-duty truck categories. Speaking during the launch ceremony, Sinotruk General Manager, Mr. Sarfraz Premji said, “Investing in Sinotruck by CFAO for our customers means that they will be getting a truck that delivers everything that matters for their business, which is more power, efficiency, durability, comfort and supported by a trusted aftersales network across the country. The launch of these models will cater for both the last-mile delivery and the heavy load delivery in addition to long haulage.” The Sinotruck H2 light duty truck can carry a higher payload, provide drivers comfort and be fuel efficient. It is equipped with a 160-horesepower engine, a fuel tank capacity of 120 liters and a full air braking system. The vehicle is suitable for transporters, bakeries, FMCG distributors, flour millers’ wholesalers, exporters, manufacturers among others. On the other hand, the Sinotruck H3 medium duty truck can carry a bigger load capacity by having a reinforced double chassis which provides greater strength and rigidity that can operate in highly challenging environments. It also caters for the drivers’ comfort, especially for long-distance haulage and its ideal for sand harvesting, water bowsers, hardware stores, contractors, horticulture, construction among others. CFAO Mobility Managing Director, Arvinder Reel commented, “Transport and logistics costs in Kenya remain relatively high, driven largely by rising maintenance and fuel expenses leading to shrinking profit margins for businesses. Today, we deliver an unmatched value proposition as these trucks will deliver the best value in higher return on investment for your business.” “CFAO Mobility has consistently demonstrated a customer-centric approach by actively listening to feedback and delivering innovative solutions. This initiative aligns with both companies’ commitment to affordability, operational excellence, and improved service accessibility and customers can take advantage of its extensive branch network for spare parts and reliable after-sales support countrywide,” he added. CFAO Mobility, in partnership with Equity Bank, is making truck ownership more accessible to customers by offering up to 90% financing, a 60-month repayment period, a 60-day moratorium, and working capital of up to KShs 1 million. In addition, to further enhance value, the first 200 customers will receive a 1-year or 50,000 km free service package, underscoring CFAO Mobility’s strong after-sales commitment. Customers will also benefit from free driving training, ensuring the motorists are well-equipped to operate the vehicles safely and efficiently. Recently, Sinotruk International and Kenya Vehicle Manufacturers (KVM) signed a Memorandum of Understanding that marked the beginning of a strategic collaboration aimed at boosting the local assembly of Sinotruk vehicles in Kenya. The move is to significantly reduce delivery times, improve product availability, and enhance aftersales support for customers across Kenya.

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“The plant is offered for sale on an ‘as-is, where-is’ basis, either as a going concern or as an asset acquisition,” the notice stated. Sasini did not disclose reasons for the planned sale. The firm ventured into avocado farming between 2017 and 2020 as part of efforts to diversify beyond its core tea and coffee businesses. The development comes as Sasini returned to profitability in the financial year ending September 2025, posting a net profit of Sh188 million compared to a loss of Sh562.9 million a year earlier. The sale could reshape the company’s agribusiness portfolio as it reassesses investments within the horticulture segment.

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Binance (https://www.Binance.com), the world’s leading cryptocurrency exchange, highlights the progress it continues to make in strengthening compliance and regulatory excellence, reinforcing its role as a pioneer in building a safer and more transparent crypto industry. Over the past years, Binance has invested significantly in enhancing its global compliance framework by expanding its teams, systems and controls that align with evolving regulatory expectations across its key markets. These ongoing efforts are designed to support responsible innovation while ensuring that user protection, financial integrity and market transparency remain at the core of the platform’s operations. Leading with Robust Compliance Measures Binance has implemented a multi-layered compliance program that includes advanced transaction monitoring, stringent Know Your Customer (KYC) protocols, and continuous enhancements to its anti-money laundering (AML) systems. These efforts are designed to protect users, prevent illicit activities, and ensure adherence to evolving regulatory requirements across jurisdictions. Building the Future of Crypto with Advanced, Measurable Compliance Over the past several years, Binance has built one of the most robust compliance programs in the digital-asset industry, combining world-class talent, advanced monitoring technology, and strong partnerships with regulators, law-enforcement agencies, and independent analytics providers. These programs include rigorous onboarding and KYC controls, sophisticated transaction monitoring systems, sanctions screening, behavioral analytics, and a dedicated global compliance team of more than 580 professionals, supported by more than 970 employees in compliance-related roles across customer-service, technology, and product teams. The results of these efforts are measurable: Binance’s direct exposure to illicit activity has dropped by 96% between January 2023 and June 2025, while its capacity to detect, report, and help disrupt financial crime continues to grow. Specifically, sanctions-related exposure reduced dramatically and is now marginal (from 0.284% in January 2024 to just 0.009% in July 2025, a 96.8% decrease). This progress reflects daily collaboration with authorities, independent research, and the lived experience of serving over 300 million users safely, demonstrating how modern crypto compliance works in practice and underscoring Binance’s ongoing commitment to transparency, regulatory excellence, and a safer financial ecosystem. Noah Perlman, Binance Chief Compliance Officer, "At Binance we’ve built a system that doesn't just react to threats, it anticipates them. A 96% reduction in illicit exposure is a testament to our infrastructure and the 1,500+ professionals working behind the scenes to protect our 300M users." Driving Industry-Wide Standards Binance’s leadership team emphasizes that compliance is a shared responsibility and that the company actively engages with regulators, policymakers, and industry partners to foster a collaborative environment. This engagement helps shape balanced regulations that support innovation while safeguarding users and the broader financial system. Transparency and User Protection Transparency remains a cornerstone of Binance’s compliance philosophy. The company regularly publishes updates on its compliance initiatives and welcomes dialogue with the community and regulators. By maintaining high standards, Binance ensures that users can trade with confidence on a platform that prioritizes security and integrity. National Cybercrime Units Collaborations Binance responds to tens of thousands of law-enforcement requests each year. In 2025 alone, Binance responded to more than 71,000 law enforcement requests and assisted in confiscating over $130 million in illicit funds. Binance supports agencies such as Europol (https://apo-opa.co/4coJAx9), INTERPOL (https://apo-opa.co/4b0FCIt), the DEA, the NCA, Homeland Security Investigations, and multiple national cybercrime units. These collaborations have resulted in the takedown of ransomware groups, darknet markets, human-trafficking networks, and financial-fraud rings. The value of our work has been repeatedly recognized by our global law-enforcement partners. Richard Teng, Binance co-CEO, "Our mission has always been to increase the freedom of money, but that freedom is only sustainable if it is built on a foundation of trust. By integrating compliance into our product DNA, we are proving that the world’s largest exchange can also be the most secure." Binance remains committed to building a secure, transparent, and trusted platform through ongoing investment in compliance, strong global partnerships, and independently validated results. Since its launch in 2017, Binance has focused on protecting users and supporting the responsible growth of digital finance, with measurable progress recognised by law-enforcement agencies and regulatory stakeholders worldwide.

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Stanbic Bank in deal to boost market access

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