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Kerosene Prices Go Up

- July 2, 2018

The Energy Regulatory Commission (ERC) on Saturday announced a Sh3 price increase in the cost of kerosene from Sunday, July 1. ERC Director-General Robert Oimeke...

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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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The Africa Women Innovation and Entrepreneurship Forum (AWIEF) (www.AWIEForum.org) hosted a spectacular celebration of African women’s excellence at the2025 AWIEF Awards, held on Friday evening at the Cape Town South Africa. The glittering gala honoured women entrepreneurs and leaders driving innovation, sustainability, and inclusive growth across the continent. Eight exceptional winners were announced, each representing the transformative power of women-led initiatives in Africa. Since its inception in 2016, the AWIEF Awards have been a beacon of recognition and inspiration for women in business and leadership. Beyond celebrating success, the Awards aim to empower the next generation of innovators and changemakers, fostering a vibrant pan-African community of collaboration and impact. This year’s winners and finalists came from across Africa, showcasing diverse industries including technology, agriculture, energy, creative arts, and social entrepreneurship — united by a shared vision of advancing Africa’s growth through innovation. The Awards followed the two-day AWIEF2025 Conference, which attracted over 500 delegates from 50+ countries for engaging discussions, exhibition, masterclasses, and networking sessions. The event concluded with the highly anticipated awards gala dinner, marking a fitting finale to two days of knowledge sharing and inspiration. 2025 AWIEF Awards Winners Young Entrepreneur Award Norah Kimathi – Zerobionic, Kenya Empowerment Award Mampho Sotshongaye – Golden Rewards 1981, South Africa Energy Entrepreneur Award Nidal Tafah – MIRRIAH, Morocco Creative Industry Award Soraya da Piedade – Soraya da Piedade LDA, Angola Social Entrepreneur Award Farana Boodhram – MiDesk Global, South Africa Agri Entrepreneur Award (Sponsored by OCP Africa) Linda Davis – Giraffe Bioenergy, Kenya Tech Entrepreneur Award Maryanne Gichanga – AgriTech Analytics, Kenya Lifetime Achievement Award Audrey Joe-Ezigbo – CEO, Falcon Corporation, Nigeria Voices of the Winners For Soraya da Piedade, founder of Soraya da Piedade LDA and winner of the Creative Industry Award, the recognition marks a defining moment in her journey as a designer and entrepreneur. “I’m deeply honoured and grateful to AWIEF for creating platforms like this, where we celebrate women’s creativity and leadership,” said Soraya. “This award reminds me that when we create from a place of passion and purpose, we not only build brands but also inspire others to dream bigger.” From Kenya, Linda Davis, founder and CEO of Giraffe Bioenergy and winner of the Agri Entrepreneur Award, described the moment as “surreal.” “It’s my first time winning an award like this, and I am beyond excited,” said Davis. “AWIEF has given women like me a powerful space to share our work, connect with others, and be recognized for driving change in our communities. This win belongs to every woman farmer and entrepreneur working to build a sustainable Africa.” About the 2025 AWIEF Awards Finalists This year’s finalists included inspiring women from across Africa — from tech innovators in Botswana and Uganda to social impact leaders in Somalia, Kenya, and Zimbabwe — highlighting the depth and diversity of women’s entrepreneurial excellence on the continent.

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Tag: Kerosene

Kerosene Prices Go Up

MOST POPULAR

KEMSA: Board meets and assures Development partners that reforms are following...

Kwara Selected for Mastercard Start Path

Pesalink and Pan-African Payment and Settlement System (PAPSS) Unlock Cross-Border Payments...

Standard Chartered introduces new branch model design – Co shared space...

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KENYAN TECHNOLOGY COMPANY BOYA PARTNERS WITH DIAMOND TRUST BANK TO LAUNCH...

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Igathe confirmed as Equity Bank’s chief commercial officer

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