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Visa Inc., the global leader in digital payments and Pesapal have today announced a strategic partnership to drive connected digital payments to consumers and businesses in Africa. Pesapal will become a Visa Principal Member driving small business acquiring and issuing. Pesapal has created Africa's only payments ecosystem that offers Ecommerce, Point of Sale and Consumer applications on one platform. Pesapal recruits and supports businesses to be able to digitize payment collection securely while integrating to business internal systems such as POS, ERP, Accounting and Billing systems. By integrating businesses, Pesapal is then able to drive consumer payments to the merchants on the same platform. Since its inception, Pesapal has been driving a connected payment experience for merchants and consumers. Previously, digital payments were only available to large businesses. Pesapal has changed this with Sabi - a mobile point of sale solution that enables small businesses to accept ...

Visa Inc., the world leader in digital payments, introduced Visa Secure (previously known as Verified by Visa), an updated program to help make online payments more secure. Available across the Central and Eastern Europe, Middle East and Africa (CEMEA) region, Visa Secure provides rules and policies merchants and issuing banks have to follow to authenticate eCommerce transactions and verify cardholder identity before a transaction can be authorized. Visa Secure uses the latest EMV 3-D Secure (3DS) specification, which is the new industry-wide messaging protocol designed to promote frictionless consumer authentication. It enables consumers to verify their identity with their issuing bank or other entity (issuer) when making card-not-present (CNP) eCommerce/online payments. The additional security layer helps prevent unauthorized CNP transactions and helps protect merchants from exposure to CNP fraud. Visa Secure has been designed to provide increased fraud protection, minimize cardh...

COVID-19: SMEs in Kenya set to benefit from KSH. 63.9M Relief Fund as Boehringer Ingelheim steps up effort with Global Support Program A Boehringer Ingelheim scientist from one of the areas of research and development (R&D) Boehringer Ingelheim, one of the largest pharmaceuticals in the world has significantly stepped up its support to the fight against COVID-19. A Global Support Program has been set up to bring more financial relief, protective materials and medicine donations to healthcare institutions and communities in need around the world. Local social enterprises are expected to receive EUR 555,000 an equivalent of KSH. 63.9M in support of their programmes in Kenya. Some of the beneficiaries of this fund include local enterprises such as Access Afya, Healthy Entrepreneurs and Jacaranda Health. “As a pharmaceuticals company, we feel a strong commitment to offering our help to patients, and to those who help them”, said Hubertus von Baumbach, Chairman of the B...

The Visa Foundation today announced a commitment of two programs totaling $210 million (Ksh 21 billion) to to address the urgent need from local communities following the spread of COVID-19, as well as to support small and micro businesses, aligning with the Foundation’s long-term focus on women’s economic advancement and inclusive economic development. The first program of $10 million (Ksh 1bn) is designated for immediate emergency relief to support charitable organizations on the frontlines responding to the COVID-19 pandemic, such as public health and food relief, in each of the five geographic regions in which Visa operates, including Kenya. “As COVID-19 continues to unfold, communities are feeling the effects and need our immediate support,” said Al Kelly, CEO and chairman of Visa. “As a global company that operates a very local business, we recognize this need. We’re also committed to the long-term recovery and will continue to explore ways we can accelerate economic...

Michael Armstrong (FCA) ICAEW Regional Director for Middle East Africa and South Asia The impact of the COVID-19 novel coronavirus on jobs and businesses is great and far-reaching; affecting lives and threatening the survival of various companies across the globe. Panic is spreading like wildfire over the sudden and deadly virus. The number of infections is on a high rise globally, with an average of over 3,500 new cases recorded daily making it the top most infectious disease at the moment according to the World Health Organisation (WHO).  As a result, many activities are scaling down disrupting the normal operation of people and businesses. Countries around the world are enforcing lockdowns to varying extents with some even completely closing their borders.  While all these necessary efforts are aimed at slowing down the spread of the disease, there have been consequences especially in the service industry. The tours, travel and hospitality industries are the ...

Hand In Hand International CEO Albert Wambugu (left) and Visa General Manager for East Africa Corine Mbiaketcha (right) receive handcrafted wooden utensils from Jack Nyawanga, Co-Founder and Secretary-General of the Victorious Crafts Group Visa has announced a $2.4 million (KES 242 Million) grant to Hand in Hand Eastern Africa to support low-income business owners in Kenya. The program aims to help improve the livelihoods and resilience of 10,000 individuals in Kenya – 75% of which are women– by offering them business and financial skills training, mentorship and financial services. The three-year project will bring tailored skills to two distinct groups of micro business owners looking to grow their businesses. Speaking during the announcement of the grant, Corine Mbiaketcha-Nana, the Vice President and General Manager East Africa at Visa said that women play a major role in the economic growth of any nation, hence Visa’s decision to support the Hand in Hand Eastern Africa i...

Most East African countries have a positive economic outlook, largely due to the positive performance brought about by economic diversification. This is according to the Institute of Chartered Accountants in England and Wales’ (ICAEW) latest report, Economic Update: Africa Q1 2020. The accountancy body provides GDP growth forecasts for various regions, including East Africa which is set to grow by 6%, West and Central Africa at 3.1%, Franc Zone at 4.9%, and Southern Africa at 1.3%. The report, commissioned by ICAEW and produced by Oxford Economics, highlights how East Africa remains the fastest-growing sub-region, and the economic outlook remains favourable, underpinned by vigorous domestic demand and public investments in infrastructure.  Kenya’s tourism industry was highlighted as a key player in the country’s efforts to diversify its economy away from a dependence on agriculture as a key foreign exchange earner. Kenya’s medium-term tourism prospects remain robust, despi...

British Airways and Royal Air Maroc have announced a new codeshare agreement which will open up new routes across Morocco including Casablanca and Agadir.  It will also give customers more flight flexibility between London Heathrow and Marrakesh. Customers will be able to book from 13 February when the new agreement takes effect and codeshare flights will operate from 20 February, prior to the Moroccan airline’s joining of the Oneworld  alliance on 1 April 2020. British Airways’ first African codeshare will give its customers more choice of services between Heathrow and Marrakesh. As well as daily access to Royal Air Maroc’s hub in Casablanca, which is not currently served directly by British Airways. Casablanca also serves as the perfect hub for connections onto other Royal Air Maroc destinations, including Abidjan in the Ivory Coast, Freetown in Sierra Leone and Agadir in Morocco.  Chris Fordyce, British Airways’ Head of Alliances, said: “We are delighted...

Sanofi, a major player in innovation in Africa, is launching four challenges for African start-ups to find innovative solutions to improve access to healthcare and transform the health ecosystem throughout the continent. The select local start-ups will be pitched at VivaTech, an annual technology conference dedicated to innovation and startups, which will take place in Paris, France as from June 11th to 13th, 2020. The challenge aims to identify, select and support the best start-ups in the health sector on the African continent. They are part of Sanofi's strategy to encourage innovation in the African continent, in order to create a health ecosystem that is at the service of the patient while including all stakeholders in the sector: public authorities, private companies and start-ups. The 4 challenges include supporting patients with a digital health book in order to access information and make decisions, providing solutions to help healthcare systems leapfrog from m...

In a push to meet the growing needs of a ballooning laundry market, Ariel – the leading laundry detergent in Kenya, has announced the launch of the new & improved Ariel Downy Pink variant as part of its expanded offering. This new laundry detergent offers consumers more freshness with the same superior clean that consumers expect from the Ariel brand. The brand has been known as “the stain removal brand” and this launch reinforces their intent to maintain market leadership by addressing a need for more freshness on clothes in the expanding consumer market. Fabric Care Brand Manager Kenya & Africa Expansion Markets, Procter and Gamble, Lydia Kakutwi made the announcement at a launch held in Nairobi’s Gikomba Clothing Market. She said, “I’m proud to announce the launch of our new & improved Ariel Downy Pink variant, delivering fantastic freshness on top of superior cleaning and stain removal.”   This is the second high-profile launch for the Ariel brand in ...

The advent of ride-hailing technology was a game-changer in the taxi business in Kenya and across the world. Public transportation is now more convenient and reliable.  These Apps have not only transformed the transport sector, but they have also improved many other business infrastructures that directly affect our society.  An analysis of the GPS systems belonging to Bolt, a leading ride-hailing company in Kenya, reveals interesting formed trends by Kenyans during the festive season.  According to the information, Nairobi County has high economic vibrancy; with more riders and App-based cabs per square kilometre than any other urban centre in Kenya.   It, therefore, formed the base for the study.  Bolt used their own Christmas and New year data for 2018, focusing on travel patterns on the city’s major roads and frequently visited malls. They also looked into popular destinations in Nairobi as well as the most popular ride times. A heat map of travel pa...

Travellers across the world, including 500 Kenyans, are increasingly prioritizing value over cost, demanding more autonomy over personalization and using digital solutions to research and manage their trips. These are among the findings of Travelport’s 2019 Global Digital Traveler Research, which surveyed 23,000 people from 20 countries: Value is more important than cost but can be hard to find • When booking a flight, value is a key priority for over four out of five travellers (81% in Kenya and 86% globally) with customer service being the top priority for 84% of Kenyans. • To find offers of value, travelers ‘nearly always’ use a combination of travel review sites like TripAdvisor (49% in Kenya and 42% globally), price comparison sites like Kayak.com (46% in Kenya and 38% globally) recommendation sites like Kiwi.com (46% in Kenya and 36% globally), and half have conversations with travel consultants (47% in Kenya and 31% globally). • But when shopping online, nearly three ...

Michael Armstrong (FCA) ICAEW Regional Director for Middle East Africa and South Asia The conversation around climate change and how to combat it has taken centre stage in global, regional and national circles. We are joined by  Michael Armstrong, (FCA) ICAEW Regional Director for Middle East Africa and South Asia, to discuss what contribution those in the financial services sector can make in the fight against climate change. How has the role of accountancy changed in light of the emergence of climate change as an issue facing global economies? The role of the accountancy profession is increasingly moving beyond the traditional arenas of accounting, tax and financial services. Accountants are in a prime position to help clients identify potential problem areas and recommend opportunities to improve profitability and reduce costs. In light of the relentless rise of energy prices around the world, the profession is playing an increasingly important role in drawing th...

Winnie Mutegi, Marketing Manager Mi Vida receives an award  from The President of the Architectural Association of Kenya, Mugure Njendu during the 29th Kenya Homes Expo Newly launched residential home builder Mi Vida has been ranked the best new entrant into the Kenyan real estate market at the Kenya Homes Expo 2019. Mi Vida also received an award in the real estate developers and agencies category at the event which came to a close on Sunday. The home builder which is targeting the middle-income sector launched its operations in Kenya in July this year. Mi Vida is a Kshs. 12 billion joint venture between Actis, a leading growth markets investor across Africa, Asia and Latin America, and Shapoorji Pallonji Real Estate (SPRE), the real estate arm of one of India’s largest conglomerates and aims to construct over 2,000 residential homes in Nairobi. Speaking on the sidelines of the expo Mi Vida CEO Chris Coulson said it was a great honour for the company to be feted bar...

From left: Pharmacy and Poisons Board CEO Dr Fred Siyoi, Denmark Deputy Ambassador to Kenya Henrik Larsen and Novo Nordisk's Vice President (Business Area Africa and Gulf) Mads Bo Larsen during the opening of Novo Nordisk's Nairobi Office Novo Nordisk, a global healthcare company headquartered in Denmark with more than 95 years of innovation and leadership in diabetes care has opened a regional office in Nairobi, Kenya. Medicine is their key contribution and they supply nearly half of the world’s insulin. However, it takes more than medicine to defeat diabetes. The company, therefore, works in partnerships to drive change to defeat diabetes. Some of the key projects in Kenya include the Base of the Pyramid (BoP) project that works to improve access to diabetes care for people at the base of the economic pyramid and the Changing Diabetes® in Children (CDiC) programme that aims to bring all elements of necessary diabetes care closer to the children and build capacity for ...

Air Afrik will cut roughly 80 per cent of its salaried staff in both Kenya and South Sudan by November as part of the company’s restructuring process. The move will eliminate 200 white-collar jobs.   The carrier hit major turbulence following the loss of a $20 million plane-leasing contract with the government of South Sudan. Since the loss of the contract and the court case against Stanbic Bank the company has been reviewing its process; fitting people into the right jobs and in the process, some roles have become redundant. “ We understand this is a challenging time for our team, but these steps were necessitated following Stanbic Bank ’ s negligent errors, oversight and unlawful actions, ” the company said in a statement The court case stems from a banking transaction gone awry. According to an official letter to the Central Bank of Kenya, the South African-owned bank admits to having regrettably made an error. Letters obtained from the Central Ba...

Boehringer Ingelheim, one of the world’s leading pharmaceutical companies, has collaborated with Kenyatta and Strathmore Universities in Nairobi, Kenya to launch the Making More Health Venture4Change idea competition. The competition is an adaptable local and global development program that aims to unlock the creative potentials of young aspiring professionals by e ncourages participants to develop innovative, scalable and sustainable ground-breaking solutions on how to improve sanitation and hygiene for children and youths aged between 6-25 years. It further aims to foster ideas that create a holistic approach towards local communities’ engagement and empowerment. This goal will be achieved by co-creating with various experts and several partners from different sectors or businesses to discuss best practices in health and more specifically, on improving hygiene for the younger population across the country. Lilian Mwaura (centre), Faheem Sadik and Juma Onyango (right) pose with t...