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Michael Armstrong (FCA): ICAEW Regional Director for the Middle East, Africa and South Asia The efficiency, convenience and reach of financial services have been significantly enhanced by the development of the fintech industry. Today, services including payments, insurance, lending, capital raising and investment management have all benefited from the boom in fintech.  These opportunities are reflected in the fast-growing investment value of the fintech sector, with global fintech investment almost doubling to US$38.9bn between 2014 and 2017. One of the most transformational opportunities presented by fintech is financial inclusion, as new technologies enable more people to access financial services. Around 2 billion people worldwide do not have a bank account and rely entirely on cash; however, many of the people in these areas have mobile phones. Kenya is among the countries where financial inclusion has been developed through the mobile money system. The mode...

Kariuki Fernandes, Head of Partnerships at Taxify & Matata Munyeke, Chief Commercial Officer-Emerging Brands at Simba Corporation Ride-hailing firm Taxify, in partnership with Stanbic Bank and Renault Kenya, has today announced a vehicle financing dealership for Taxify drivers in Kenya. The partnership is expected to see a number of individual drivers benefit 100% financing from Stanbic Bank. As part of the agreement, Renault Kenya, a sub-brand of Simba Corporation, will provide Renault KWIDS with engine capacity of 800cc and fuel efficiency of 24km/litre. The vehicle is financed at 0% deposit with the repayment tenure being 36 months. The partnership also offers a 25% discount on part replacement, 20% discount on labour and AA rescue to all drivers. Taxify will vet and pre-qualify drivers who have met various criterion including positive driver ratings of 4.7 and above. Speaking at the partnership launch event Alex Mwaura, Taxify Country Manager, Kenya said, “We...

From left: Lydia Kakutwi (Assistant Brand Manager-Fabric Care, P&G Kenya), Anthony Ng'ang'a (Brands Commercial-P&G East Africa) and Francisco Gala (Country Category Leader-Fabric care, P&G) As part of its strategic intent to further grow their consumer base, Ariel has today announced a revamp of their detergent and embarked on a new campaign dubbed #UltimateGuarantee in celebration of 10 years since they entered the Kenyan market. The campaign investment is geared towards supporting Below the Line (BTL) and Above The Line (ATL) activities. Showing great confidence in their new detergent, Ariel is introducing a money back guarantee to boost trial. If a consumer is not satisfied with the new Ariel detergent, the brand will reimburse them. The campaign marks a significant increase in marketing spend on the Ariel brand by its owner, Procter & Gamble (P&G), as it seeks to further cement its leadership position within the laundry market in Kenya. “In a...

(R-L) Dr Moka Lantum (CEO-Sagitarix), Dr Tanvi Sha (CEO & Co-founder-The Pill Shop) and Peter Munyasi (Sanofi Kenya Country Chair and General Manager, GEM) during the launch of the 2019 Vivatech challenge Sanofi, a major player in innovation in Africa, is launching three challenges for African start-ups to find innovative solutions to improve access to healthcare and transform the health ecosystem throughout the continent. These will be pitched at VivaTech, an annual technology conference, dedicated to innovation and startups, held in Paris, France and will take place on May 16th to 18th, 2019. The three challenges aim to identify, select and support the best start-ups in their desire to invent tomorrow's solutions in the health sector on the African continent. They illustrate Sanofi's commitment to contribute locally by supporting the most daring and innovative entrepreneurs in the realization of their projects. These challenges are part of Sanofi's strategy ...