Maisha 254

With FIFA World Cup ™ excitement heating up , Visa (NYSE: V), the Official Payment Technology Partner of FIFA, invites football fans to sharpen their financial skills on the virtual pitch with the new version of the educational video game , Financial Football. Gamers can suit up as the country of their choice and take their best shot for the coveted trophy by correctly answering questions designed to help players make smart, well informed money management decisions. To further Visa’s commitment to uplift lives through the power of sport and the global platform of FIFA World Cup Qatar 2022™ , Visa is working in collaboration with clients and non-profit organizations to make the new version of Financial Football available to as many people as possible. Visa and partners will host events, learning series and promote game availability in more than 100 markets around the world leading up to and following the tournament. With only one-in-three adults estimated to have a basic understan...

Today,   Flourish Ventures   released a new research report showing that corner shops are doing better than predicted despite protracted supply chain issues and big-box and online retail competitors. The study confirmed better-than-expected sales and that 94% of consumers surveyed plan to shop as much or more at their corner shops in the future. Both shopkeepers and customers believe, however, that corner stores will need to accelerate digital technology adoption to remain relevant and competitive.                                                                                   ...

  Efayomi Carr - Principal at Flourish Ventures Embedded finance, or the integration of traditional retail financial services into platforms that consumers use on a daily basis, has gathered momentum during the pandemic. We have seen the development of new fintech solutions have disrupted the banking industry.  Efayomi Carr, Principal at Flourish Ventures has interacted with his fair share of start-ups that offer embedded finance as part of their services, and he joins us to elaborate more on the significance of the technology to the finance sector. How does FinTech contribute to the economy of Kenya? FinTech has established itself as a significant engine of economic development by accelerating financial inclusion and rapidly offering innovative financial solutions. While Kenya is a FinTech pioneer, greater effect may be accomplished by permitting more innovation and bringing more investment into Fintech. A supportive regulatory environment is critical in recruiting new market...

I&M Bank Limited has launched an enhanced set of customer solutions under its iMara 2.0 strategy as part of the Bank’s continued efforts to meet its Corporate, MSME and retail customers’ financial needs. The new value propositions will support the Bank’s strategy of deepening penetration into the Retail and MSME segments through tailor-made customer solutions. For each customer segment, the Bank has clearly defined their banking needs using “personas” - these are based on the customers’ different stages in life and their changing financial and lifestyle requirements. The enhanced product offerings are then designed to meet the unique needs of each segment persona, with customers having the choice to select the set of financial solutions that best align to their business and/or personal requirements. The segments identified include “ the Game Changer ” – Small Medium Enterprises (SMEs) and Micro, Small, and Medium Enterprises (MSMEs) who are focused on growing and improving thei...

Eliud Kipchoge and Faith Kipyegon join a stellar cast of international changemakers to turn up the pressure in the fight against malaria today, launching the second chapter of the multi-award-winning Draw the Line Against Malaria campaign.     Backed by the RBM Partnership to End Malaria, the youth-focused Draw the Line Against Malaria campaign is part of the Zero Malaria Starts With Me (ZMSWM) movement which was launched in Kenya on 31st October 2020 by H.E. President Uhuru Kenyatta. The Malaria Youth Army, also launched by H.E. President Kenyatta in July 2021, has utilized the campaign to demand scaled up action in their communities, and countries across the world, to end malaria.   Speaking during the 7th Global Fund Replenishment preparatory meeting, His Excellency, President Uhuru Kenyatta, President of Kenya and Chairperson of the Africa Leaders Malaria Alliance (ALMA) said, “I call upon all governments and indeed all stakeholders including the private sec...

Decentralized finance has come a long way from being a term only known to tech insiders. Although still in the early stages of development, Defi has the potential to open the door to a new industry within the African financial ecosystem. Africa is home to some of the world's fastest-growing economies, has a young population and has proven to be a fertile market for digital financial services. The continent leads the world in mobile money adoption, with digital transactions in Africa accounting for more than 45% of global mobile money transactions All these factors make the continent a strong candidate for the adoption of new financial services and technology. As the younger population on the continent grows, the need for financial inclusion increases. As much as banks are crucial to poverty reduction and sustainable growth, they have been unable to fill this gap. As a result, mobile money and open banking platforms are rapidly taking over the role of many banks. Both are leveraging...

All children experience stress in varying degrees as they grow. Despite their best efforts, parents cannot protect their children from all the challenges they face. Children will get sick, encounter bullies and cyberbullies, experience heartache, lose friends and pets, and now they also have to deal with the effects of Covid-19. Some of these challenges might seem insignificant in the eyes of an adult, but may be overwhelming to a child. In today's world, anxiety and stress are becoming more prevalent in children. While it is a normal and necessary emotion, designed as part of the human self-protection mechanism, it can inhibit us as well. Anxiety is the most common mental health condition in children. The signs of stress and anxiety in children often show up as physical or behavioural changes. This can include:  ● Finding it hard to concentrate; ● Poor sleeping patterns, sleepwalking or experiencing nightmares; ● Loss of appetite; ● Fear of making decisions; ● Difficulty beginning...

Bolt, the leading European mobility platform, launches its car-sharing service, Bolt Drive. The new service allows customers to rent a car for short periods of time using the Bolt app. Bolt will invest €20 million in launching Bolt Drive in Europe this year, starting with a pilot in its home market, Estonia. Bolt is the first mobility platform in Europe to offer car-sharing, ride-hailing and micromobility with scooters and electric bikes in one app. By enabling customers to quickly and conveniently rent a car at the tap of a button, Bolt allows them to be less dependent on personal cars and encourages the use of alternative modes of transport for short-distance trips. Markus Villig, CEO at Bolt, said: “Personal cars are the primary cause of problems in urban transport. They are responsible for traffic, environmental emissions and taking up city space. Bolt’s mission is to help people give up their personal cars by providing a better alternative. For people to switch from ownership to o...

Visa, a leading global payments technology company, announced today a new global commitment to reach net-zero emissions by 2040, and that the company achieved carbon neutrality across its operations in 2020.  Visa also outlined plans to become a climate positive company through new partnerships and expanded initiatives to support sustainable commerce and the transition to a low-carbon economy beyond the company’s own footprint.  “Visa is committed to creating a more sustainable future,” said Al Kelly, chairman and chief executive officer of Visa. “Our new net-zero commitment and enhanced efforts across our network in support of sustainable initiatives are immediate ways we will achieve our goals to help build a better future for our planet.” Net-zero by 2040 – 10 years ahead of Paris Climate Agreement goal As part of the commitment to reach net-zero emissions by 2040, Visa announced it is a new signatory of The Climate Pledge, an initiative co-founded by Amazon and Global Opti...

Always has been ranked as the number one most loved sanitary brand by women in Kenya. “This is according to the study dubbed the  Top 100 most loved brands by women in Kenya , a collaboration between Ipsos, a Global leader in market research and BSD Group. The study’s ranking resulted from carefully curated data that delved deeper into the Kenyan women's psyche.”    The survey was conducted between   23rd January to 9th February 2021. It involved a sample size of 1,021 women above the age of 18 years in the following regions Nairobi, Mombasa, North Eastern, Eastern, Central, Rift Valley, Western, and Nyanza. The margin of error was plus/minus 3, which saw the Always brand ranked fourth. The company credits its ranking to continuously investing around customer needs.      "We have invested heavily in the feedback we receive from our consumers as a way of re-configuring our business model to new realities a...

The telecommunication and posts regulatory authority (ARPT) of the Republic of Guinea and the company Global Voice Group (GVG) are proud to announce the establishment of a new partnership between the two organizations. Signed in Conakry on 1 April 2021 by the respective directors, Mr Yacouba Cissé and Mr James Gabriel Claude, the agreement provides for the deployment of a leading-edge mobile and digital ecosystem regulation platform in Guinea.  The installation of this digital platform will begin on 1 June of this year. To this day, this is the most ambitious project for the digitization of the country's regulatory tools. It encompasses major aspects such as the regulatory management of mobile and digital identities, interconnectivity, data services and mobile money. The contract stipulates that GVG will be responsible for the deployment of the platform, as well as for the related technical operations, over a five-year period at the end of which the company will transfer the platfo...

Arjun Mallik, Prudential Africa's Managing Director, East Africa. COVID and its resultant ebbing lockdown periods have been a stressful time for people all over the world including in Africa. Emotional wellness of people should be at the forefront of most companies’ plans. While businesses are grappling with how to sustain themselves, they should simultaneously be taking care of their employees. There are simple initiatives that businesses of all sizes can take to start addressing mental wellness, which Prudential Africa has outlined below.   A key learning lesson from operating in the pandemic for Prudential Africa has been that physical and mental wellbeing are equally important.  “Collective trauma as a result of COVID happened at a societal level while making individuals more inward-looking. Our employees in Ghana, Kenya and Uganda are experiencing heightened trepidation due to everyday uncertainties, less interaction with colleagues and concerns for family safety. In...

Flourish Ventures, an impact-focused Venture Capital has been making waves across the continent lately. With their focus on providing investment to startups that enhance the financial health of their customers, Flourish is seeking to be the next impact forecast venture capital to have an impact on the lives of Africans. Maisha 254 is joined by Efayomi Carr, the firm's Principal, to tell us more about what Flourish intends to achieve on the continent and why they came to Africa in the first place.  1. What informed the choice to begin operations in Africa at this juncture? We already had a presence in Africa before we made the decision to open a physical premise in Nairobi. We have so far invested in over a dozen start-ups across Africa located in Nigeria, Ghana, Egypt and Kenya that include Apollo Agriculture, Fair Money, Financial Services Innovators (FSI), Flutterwave, Lendable, Pula and Paga. Africa is an important market for us and we feel that having an office on the continent...

Bolt, the leading on-demand transportation platform in Africa, and Flourish Ventures, a global fintech venture capital firm, with a strong focus on Africa, are set to hold a webinar on Women and the Gig Economy. The webinar, which is aimed at highlighting opportunities that the gig economy presents to women will be held on Thursday the 25th of March 2021 and will focus on educating, encouraging more women to engage in gig work while addressing the specific challenges that women face in joining the gig industry. Themed “Women in the gig economy: Opportunities and Challenges”, the webinar will seek to celebrate women in the gig economy, highlighting the opportunities while also addressing specific challenges that women face in joining the gig sector. The webinar will encourage discussion on what could be done to welcome more women to the gig economy with an emphasis on both business and government solutions to drive inclusion. Hillary Miller-Wise, the Africa Regional Director at Bolt Foo...

  The African fintech startup scene is set for a boost after Flourish Ventures, a global fintech venture capital firm, today announced a new office based in Nairobi to help its investment team better serve entrepreneurs across Africa who are building innovations that help advance financial health and economic resilience for people and small businesses.  With deep fintech industry and country-specific expertise, Flourish is focused on building its investment in Africa and adding to its growing portfolio of a dozen startups located in Nigeria, Ghana, Egypt and Kenya that includes Apollo Agriculture, Fair Money, Financial Services Innovators (FSI), Flutterwave, Lendable, Pula and Paga. Flourish recently hired Efayomi Carr as Principal, who will manage the company’s operations in Nairobi. Carr is an experienced entrepreneur who previously served as Head of Strategic Finance for Lori, a tech startup that builds cost-saving market infrastructure for the trucking sector in Africa. He...

Visa has announced the 2021 edition of the Everywhere Initiative – a global innovation program and competition for fintechs. This year, the focus is on expansion and accessibility, with Visa offering a one-stop experience to register and learn about upcoming opportunities and competitions – via the global website. Fintechs started by everyone, everywhere will pitch their ideas in regional competitions to a panel of expert judges from across the payments industry. All applicants from Sub Saharan Africa (SSA) are invited to compete first on a CEMEA stage to win a combined $25,000 in total prize and then on a global stage for a combined $100,000 in total prize money. and to tell their companies’ stories. “Supporting companies across the globe who are building solutions that power seamless money movement everywhere is a top priority for Visa. We recognize fintechs as a force for innovation that is core to our business and encourage everyone to apply to Visa Everywhere Initiative. I am look...

 Mabati Rolling Mills (MRM), a Member of Safal Group, today commissioned a rainwater harvesting system at Wetlands Primary School in Nairobi. The water-harvesting system was installed using MRM’s RAINGAIN® products, which are specially designed to hygienically and safely maximize water harvesting from roofs for homes and institutions. Westlands Primary is one of oldest and most populous schools in the county with over 1,400 pupils and in excess of 50 teachers and non-teaching staff. This new installation will reduce the schools reliance on metered water and reduce its consumption by as much as 50%, saving the school from the perennial problems of unreliable and costly water supply. Speaking at the school in Westlands, MRM CEO Andrew Heycott said the company has developed a rainwater harvesting system, which is affordable for both residential and institutional use. “MRM has over the years continually innovated and pioneered new products and solutions to become the markets ultimate b...