Author: Nairobi Business Monthly Reporter

JLL’s annual East Africa Hotel Market Overview has given the latest update on the trends in the hotel sector of one of the highest growth regions in Africa. The report says that following a peak in the economic and hotel demand cycle in 2014, supply growth in East Africa has been at an unprecedented high level over the past three years. The entrance of many global hotel operators has resulted in supply outpacing demand in many markets. The report highlights that the market is turning, and a shrinking development pipeline will see hotel performance begin to improve. The report highlights hotel performance…

Read More

Jubilee Insurance, one of the leading insurance companies in East Africa, has recently decided to bet on technology by introducing three mobile apps into the market. The apps, which include JubiCare App, JubiAgent Medical App and JubiAgent Motor App, are going to be helpful to both clients and agents as they allows them to have access services through their mobile phones. According to Dr. Julius Kipng’etich, regional CEO of Jubilee Holdings, the new apps will be playing a major role in integrating insurance as necessary part of the customer’s lives. “Customers are now looking for services that can be initiated…

Read More

BY JOSEPHINE WAWIRA Defined as browser-based Internet services accessed from handheld mobile devices such as smartphones or feature phones; through a mobile or other wireless network, mobile web traffic continues to rise globally. It is largely driven by faster Internet speeds, availability of multiple mobile applications, as well as feature-rich devices. Kenya in 2017 had a mobile subscription rate of 41 million (+3%), surpassing the 40 million mark. The mobile penetration now standing prominently at 90.4% of the adult population according to a recent Mobile Report by Jumia, has been highly driven by the arrival of aggressive entrants into the market, consequently driving moderate reductions in…

Read More

Stanbic Bank Kenya has launched an automated online platform known as e-Biller that will enable businesses to process invoices and generate payment instructions. The online platform is the first of its kind in the country and according to the bank, it is suited for businesses across all industries especially those that handle massive volumes of payments. The introduction of the platform also does away with the strenuous manual paper based reconciliation that firms have to constantly go through. Instead, it streamlines the process of billing, reconciliation and payment thus accelerating the once laborious process. According to the Chief Executive of…

Read More

Stella Kilonzo, who is no stranger at the high table, has been appointed the senior director of Africa Investment Forum at the African Development Bank (AfDB). Kilonzo has been at the bank since late 2013 and has previously held the position of division manager at the capital markets division of the bank. Starting her new role, she brings with her 17 years of experience and expertise in the financial sector. She has a good track record in matters concerning capital markets, risk management, development finance, investments structuring, corporate finance advisory and accounting. Her brilliance in the finance sector is evident…

Read More

O verseas Private Investment Corporation (OPIC), the African Development Bank (AfDB) and ALCB Fund Board Members have signed a loan agreement to support high impact sectors in Africa focusing on housing, agriculture and SMEs. OPIC contributed US $40 million to the Fund while the African Development Bank is providing a Senior Loan of ZAR 140 million ($10 million) to support the development of local currency corporate bond markets in Africa. The latter loan was first local currency financing obtained by the ALCB Fund. The Fund was incorporated in December 2012 by the German Development Bank (KfW), with initial paid-in capital…

Read More

BY VICTOR ADAR As some entrepreneurs catch cold feet over the dynamic creative and fashion industry, Jeffrey Wilson is one generation who embarked on an unrelenting quest five years ago to come up with something that could make Kenyans buy local designs to be able to spur growth in the fashion industry. Knowing too well that fashion and creative industry is a hot market that lacks recognition, the calm, sober, young investor founded JW Show in a bid to fill the gap. But is he really up to the task of making things happen? Wilson’s fashion show, popular as JW…

Read More

Mauritius-based SBM Holdings Limited, one of the largest banking and financial services institutions, through its Kenyan subsidiary has finalized takeover of Kenyan bank, Chase bank Limited which has been in receivership. This comes months after it acquired yet another bank, Fidelity Bank in 2017. This was confirmed after the Central Bank of Kenya and the Kenya Deposit Insurance Corporation (KDIC) signed off on the acquisition. The financial institution was able to win the bid against 12 other strong financial competitors, including several tier one banks in the country, which viewed Chase bank as a lucrative financial institution catering to the…

Read More

Kenyans have long waited for the feature that would allow them to buy apps from the Google play store using M-Pesa. Finally, the wait has come to an end after DOCOMO Digital, a provider of a global payments platform, recently entered into a partnership with Safaricom. The integration, which is powered by DOCOMO Digital’s mobile commerce enabling platform using Google Play’s payment API, enables Safaricom customers to use their M-Pesa to pay for content from the application store. According to Mahir Sahin, Head of Africa, Android Partnerships, Google, said, “We are thrilled to partner with Safaricom to bring Google Play…

Read More

Twiga Foods, a B2B food distribution company, in partnership with IBM have introduced a blockchain-based microfinancing product that aims to help food stall retailers in the country with microloans. The new product is expected to be accessible by about 220 food stall retailers. According to Grant Brooke, co-founder of Twiga Foods, the company previously used to focus on helping farmers distribute their products to 2,600 retailers across Kenya. However, they soon realized if they could help them access a working capital then they would be able to increase their reach. “Therefore, if the food vendors could sell more, we could…

Read More