CBA HOSTS ECONOMIC FORUM TO UNPACK THE BIG FOUR AGENDA

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CBA HOSTS ECONOMIC FORUM TO UNPACK THE BIG FOUR AGENDA

Special Correspondent - April 19, 2018

Kenya’s largest privately owned bank, Commercial Bank of Africa (CBA) has launched a CBA Economic Forum series, which will provide top-mind analysis and thought...

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MAJID AL FUTTAIM LAUNCHES “BUY KENYA, BUILD KENYA” CAMPAIGN

Special Correspondent - April 19, 2018

The campaign coincides with the opening of the fifth Carrefour store in Kenya, in less than two years Majid Al Futtaim, the leading...

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THE B TEAM AFRICA’S AGENDA ANNOUNCED AT AFRICA CEO FORUM 2018

Special Correspondent - March 27, 2018

“As forward-thinking business leaders, we are ready to take a positive stand not just for our communities and our nations, but for the continent....

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“In addition, the Group experienced elevated claims during the period, which reflects normal volatility within the insurance cycle and remains within expectations,” it added. CIC attributed its stronger 2024 performance to a Sh1 billion gain from the revaluation of its Kiambu land property. The Group also earned Sh1.8 billion from the sale of two parcels of land near Tatu City and in Kajiado County. The properties included a 50-acre block neighbouring Tatu City and a 100-acre parcel in Kajiado. Despite the disposals, the insurer and its subsidiaries still hold substantial land investments, including 200 acres near Tatu City and 495 acres in Kajiado. “The Board remains confident in the Group’s long-term strategy, capital strength, and ability to deliver sustainable value to shareholders as we implement our 2026 to 2030 strategic plan,” the statement added.

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Christine Gakii is a BIMAS customer from Mukothima, Tharaka North, Tharaka Nithi County. Her journey with BIMAS Microfinance began in 2014, after her life had taken a dramatic turn. Family disputes had stripped her of everything, leaving her in a state of despair. Just when all seemed lost, a trusted friend guided her towards BIMAS Microfinance. Her journey with BIMAS began with a modest loan of Ksh 30,000, which she invested in her dream of starting a cereal farm. Through hard work and perseverance, she repaid her loans faithfully and steadily climbed the loan tiers. Her farm flourished, expanding across multiple plots of land. With courage, she ventured into a new frontier: a pork butchery with a small kitchenette. Her determination paid off, and the business thrived. Seeing her dedication, BIMAS went further, helping her acquire a motorbike to transport her products more efficiently. As her pork business grew, the daily slaughtering of pigs demanded more water. Recognizing her relentless commitment, BIMAS provided funding for a water tank and an energy saving Jiko for her kitchenette. Christine's journey is truly inspiring. Despite facing many challenges, she has risen above them all. Now, she owns a thriving pork butchery, employs many people, and has become a successful landowner and farmer. She even owns three motorbikes. Christine dreams of building rental houses on one of her best pieces of land, which is close to an institute. With BIMAS ready to help, her dream is on its way to becoming a reality. She proudly refers to BIMAS Microfinance as her "father and mother," underscoring the profound impact it has had on her life. In a heartfelt message, she encourages those facing hardships not to turn to stress-induced drinking, but to seek support from BIMAS. She says, "At BIMAS, help is available for everyone." Christine's journey with BIMAS Microfinance exemplifies women empowerment and promotes multiple Sustainable Development Goals. Through initial funding and continuous support, BIMAS enabled her to break the cycle of poverty and establish a thriving business in cereal farming and pork butchery, enhancing food security in her community. By nurturing her entrepreneurship, BIMAS promotes gender equality and economic empowerment. Moreover, Christine's enterprise generates employment opportunities and sustains livelihoods. The provision of a water tank further ensures operational efficiency and supports her overall well-being.

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Emirates (www.Emirates.com), the world’s largest international airline, has introduced a first-of-its-kind split-payment solution for travellers in Kenya, through a longstanding strategic partnership with Cellulant, Africa’s leading payments technology company. The split-payment capability, enabled by Tingg, Cellulant’s payment gateway, has debuted in Kenya and is expected to roll out to other African markets in the coming months. Available on Emirates’ website, Tingg’s split payment feature, offers greater financial flexibility by allowing customers to combine multiple payment methods across mobile money, mobile banking and local credit and debit cards. The partnership also enables customers to make an initial payment online, followed by up to four additional instalments across 24 hours, unlocking greater purchasing power and making airfares more accessible to mobile-first customers. “With hundreds of millions of Africans relying on mobile money as their preferred way to pay, extending this convenience to global travel payments is essential,” said Michael Muriuki, Chief Product and Technology Officer at Cellulant. “Through Tingg, we are enabling Emirates customers to complete high-value transactions seamlessly, without transaction limits becoming a barrier to access.” Commenting on the partnership, Christophe Leloup, Emirates’ Country Manager for Kenya, said, “Kenya is one of the most dynamic markets on our global network, and we’re always looking for ways to enhance our customer experience across every touchpoint, including the booking process. By introducing split payments, through Tingg by Cellulant, we unlock greater flexibility and convenience, while enabling more customers to access our world-class product and services.” Solving a Real Pain Point: the Split-Payment Breakthrough Mobile money is the dominant form of payment across Africa, with over 1 billion registered mobile money wallets and more than 80 billion transactions totalling over US$1 trillion. Yet despite its widespread adoption, per-transaction and daily limits on mobile wallets often prevent customers from completing high-value purchases, such as international airline tickets, forcing customers to abandon bookings. By introducing the split-payment solution available through Cellulant’s payment platform, Tingg, Emirates directly addresses this challenge by allowing customers to complete ticket bookings while remaining within provider-imposed limits. The split-payment feature joins Emirates’ raft of other financing options (https://apo-opa.co/3ZV37Oc), designed to make airfare more accessible to customers. In Kenya, Emirates enables payments through mobile apps such as M-Pesa and Safaricom or via mobile banking transfer, through partner banks, via Cellulant. Across the region, Emirates and Cellulant also facilitate a variety of finance options in 14 markets across Africa such as South Africa, Ghana and Zimbabwe. The launch comes as Emirates adds a third daily flight on the Dubai–Nairobi route from 1 March 2026, increasing capacity on a corridor that has seen strong demand. In recent months, Emirates has operated its double daily flights at a consistently strong seat factor, reflecting growing demand for air travel between Kenya and global destinations. By pairing the extra flights with locally aligned payment options, Cellulant and Emirates are ensuring that demand is met with accessibility. To book tickets with split payment, customers can visit the Emirates website.

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The Africa’s Green Economy Summit (AGES) 2026 opened its doors in Cape Town today, marking a pivotal moment in the continent's economic trajectory. Convening a powerful coalition of policymakers, financiers and innovators, the summit signals a decisive shift from conceptual ambition to concrete, bankable action in the pursuit of a sustainable African future. Under the banner of "From Ambition to Action: Scaling Opportunities in Africa's Green and Blue Solutions," AGES 2026, proudly sponsored by Sanlam Investments, is not merely a forum for discussion but a catalyst for deal-making and partnership. The gathering is built on a singular premise, that Africa’s environmental challenges are, in fact, its greatest economic opportunities. “Ambition lights the path, but it does not pave it. To transform our economies and uplift our communities, we must move beyond rhetoric to robust execution,” said Lerato Mbele, Summit Moderator. “This summit is a marketplace of ideas where we connect visionaries with investors, ensuring that Africa’s green transition is not just sustainable, but also scalable and profitable.” The strategic focus of this year’s agenda is underpinned by compelling data. The summit is shining a spotlight on the blue economy, a colossal yet often under-leveraged asset that already injects nearly $300 billion annually into the continent’s GDP and sustains 46 million livelihoods through fisheries, tourism and logistics. Simultaneously, the green economy, with agriculture and renewable energy at its core, is projected to unlock a staggering $10 trillion in global business value over the next decade, positioning Africa to generate an estimated 300 million new jobs for its burgeoning youth population. These are not distant prospects, but immediate frontiers for investment and innovation. Echoing this sentiment, the Honourable Naren Singh, Deputy Minister of Forestry, Fisheries and Environment, addressed delegates with a call for holistic progress. "Our journey towards a low-carbon future must be defined by a fundamental truth: sustainability is a three-legged stool, balancing the health of our planet, the prosperity of our people and the creation of shared value," he stated. "By investing in our natural capital, we are investing in the most resilient infrastructure of all our communities." Over the next two days, the summit floor will be a hive of activity. Attendees will engage in high-level interactive sessions, witness live project pitches from Africa’s most promising green entrepreneurs, and participate in curated networking forums designed to fast-track collaboration and knowledge transfer. AGES 2026 is more than an event, it is a declaration that Africa is ready to build a future where economic resilience and environmental stewardship are the same.

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Instant 24/7 bank-to-bank transfers across African borders in local currencies. Simpler cross-border payments for individuals, businesses, and SMEs. 80 plus Pesalink network participants now linked to 160 plus PAPSS participating banks. Pesalink, Kenya’s de facto instant payment network, has partnered with the Pan-African Payment and Settlement System (PAPSS) to ease cross-border payment and speed up regional financial integration. The partnership enables instant 24/7 cross-border payments from PAPSS participants into banks and mobile money operators within the Pesalink network in Kenya, all settled in local currencies. This reduces complex correspondent banking requirements and reliance on foreign reserve currencies. PAPSS, an initiative of the African Export-Import Bank (Afreximbank) in collaboration with the African Union and the AfCFTA Secretariat, enables cross-border payments between African countries. Pesalink is now a Technical Connectivity Provider. It means that 80 plus Kenyan bank, fintech, SACCO and telco participants on the Pesalink network will be connected to 160 plus commercial banks and fintechs on the PAPSS platform. Cross-border payments remain expensive and slow for many African businesses. The 2023 (http://apo-opa.co/4baDSh7) World Bank Remittance Prices report indicates that sending money across African borders incurs on average 7-8% of the total value sent (above the global average of 6–7%). Settlement can also take three to seven business days. The Pesalink–PAPSS partnership will reduce costs, speed up settlements, and help individuals, SMEs and businesses send money more efficiently across borders. Speaking during the partnership signing held at Pesalink offices in Nairobi, PAPSS CEO Mike Ogbalu III said, “For PAPSS to deliver true impact, collaboration with national and private switches like Pesalink is essential. Pesalink is the first switch we’ve piloted for transaction termination in Kenya, and we are already seeing greater adoption by opening more channels for seamless, local-currency cross-border payments across Africa.” Pesalink CEO, Gituku Kirika, said “Kenyan banks will now be able to offer faster, cheaper cross-border payments. They will be helping their customers grow more regional trading relationships and thrive in a more integrated digital economy.”

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Tag: Kenya

CBA HOSTS ECONOMIC FORUM TO UNPACK THE BIG FOUR AGENDA

MAJID AL FUTTAIM LAUNCHES “BUY KENYA, BUILD KENYA” CAMPAIGN

THE B TEAM AFRICA’S AGENDA ANNOUNCED AT AFRICA CEO FORUM 2018

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CIC profit expected to dip 25pc to Kes2.14bn

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Emirates Expands Payment Flexibility in Kenya through Cellulant’s Split-Payment Solution

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