- How Smartphones Are Helping Kenyans Earn a Living
- The African Investment Summit to be hosted in London 2024
- Uganda trails EAC neighbours in AfCFTA roll out
- African Finance Ministers Discuss People-Centred Economic Growth
- Africa’s First Spaceport Set to Position the Continent in the Global Space Race
- Current state of online Forex Trading in Africa
- Lufthansa keen to cement East Africa market with Nairobi base
- Kenya moves to tackle dollar shortage as forex reserves hit 10-year low
- Insurance industry paid claims worth $400Mn in three months from October 2022 to December 2022 representing a 3percent increase compared to the third Quarter of 2022 that paid claims worth $391Mn.
- Latest statistics from the Insurance Regulatory Authority (IRA) indicate that the number of claims reported to the insurers were 2,040,600, a 12.6 percent increase compared to 1,811,141 claims reported in Q3,2022.
- General liability claims paid went up by 16.8 percent to 14,085 claims worth $42Mn from 12,055 claims paid worth $40Mn billion in the previous quarter. Non – Liability claims paid hit 1,714,723 claims worth $170Mn representing a 1.8 percent from 1,684,698 claims worth $160.31Mn reported in Q3 2022.
Insurance industry paid claims worth $400Mn in three months from October 2022 to December 2022 representing a 3 percent increase compared to the third Quarter of 2022 that paid claims worth $391Mn.
According to the Quarter 4 of 2022 claims …
- TransCentury Plc’s right issue is set to be reopened following approval from the Capital Markets Authority (CMA) after the initial issue failed to hit a 50 per cent threshold.
- Unfortunately, the rights issue performed below expectations, and as a result, CMA has invoked its powers under Section 14 of the Public Offers and Listings Regulations to allow TransCentury to reopen the issue.
- The rights’ issue will be open from March 20 -30 this year with additional information provided in the secondary prospectus to be issued by March 17 as the firm seeks shareholders’ approval to enable the conversion of shareholder loans to ordinary shares as a mode of payment for rights.
TransCentury Plc’s right issue is set to be reopened following approval from the Capital Markets Authority (CMA) after the initial issue failed to hit a 50 per cent threshold.
TC shareholders had until January 23, 2023 to take …
- I&M Group PLC has appointed East African Breweries Limited Group Chief Financial officer Risper Genga Ohaga as an Independent Non-Executive Director of the Company.
- Ohaga is a seasoned finance professional with over 23 years’ experience in Financial Management, Strategy, Audit and Risk Management spanning multiple countries.
- She holds a Bachelor of Commerce (BCom) from University of Nairobi, is a Certified Public Accountant of Kenya (CPA-K) and a Certified Internal Auditor (CIA).
I&M Group PLC has appointed East African Breweries Limited Group Chief Financial officer Risper Genga Ohaga as an Independent Non-Executive Director of the Company.
Ohaga is a seasoned finance professional with over 23 years’ experience in Financial Management, Strategy, Audit and Risk Management spanning multiple countries. She holds a Bachelor of Commerce (BCom) from University of Nairobi, is a Certified Public Accountant of Kenya (CPA-K) and a Certified Internal Auditor (CIA).
“The Board is pleased to welcome Ms. Ohaga …
Patrice Thlopane Motsepe has entrepreneurship baked in his bones.
It seems the South African born mining magnate has natural instincts for enterprise.
Looking at his accomplishments in the mining industry and business world its not hard to imagine that he possesses the so called “animal spirits” that renowned British economist John Maynard Keynes said drives entrepreneurs and causes them to see opportunities for value where others cannot.
- Patrice Motsepe is a South African billionaire who has made a fortune estimated by Forbes to be in the region of US$ 2.6 billion.
- His fortune has come from investments in the mining industry through a company he founded in 1997 called African Rainbow Minerals Limited.
- African Rainbow Minerals is involved in the mining of gold, platinum, coal, ferrous and base metals.
According to Forbes, Motsepe’s personal fortune is estimated to be in the region of US$ 2.6 billion. Motsepe founded and …
Mark Willcox the former chief executive of Mvelaphanda Holdings which housed his and veteran African National Congress politician Tokyo Sexwale’s business interests has died.
Willcox, it is said, died at age 50 after battling ill health for a long time. Willcox was Tokyo Sexwale’s right-hand man and was instrumental in the creation of Mvelaphanda Holdings, Mvelaphanda Group which was a diversified investment company and was listed on the Johannesburg Stock Exchange as well as Mvelaphanda Resources Limited which held key interests in prized mining assets namely the Booysendaal platinum project which was eventually sold to Northam Platinum and Trans Hex diamonds as well as an interest in Gold Fields Limited.
- Mark Willcox, the former chief executive of Mvelaphanda Holdings, has died.
- Willcox despite being a Caucasian was instrumental in the creation of Black Economic Empowerment in South Africa as we know it. He certainly benefitted from it.
- His death is
In recent years, instant digital payment solutions have grown significantly across the African continent.
Africa accounted for 70 per cent of the value of mobile money transactions worldwide in 2021.
In the latest development, Cellulant, a Pan-African Fintech company, has partnered with Orange Money, the mobile money service of Orange, to enable card-to-wallet transfers for 8 banks in Botswana. This partnership has allowed Orange to increase its digital cash-in reach as they were previously only open to Absa and Standard Chartered Bank through the Bank to Wallet product offering.
- Orange Money, the mobile money service of Orange, and pan-African payments company, Cellulant have launched a partnership to enable card-to-wallet transfers for eight banks in Botswana.
- This partnership enables customers to move funds straight into their Orange Money wallets from their bank accounts through their cards.
By leveraging its vast networks, Orange Money will now enable customers with bank cards from …
Zimbabwe’s dual economy, the formal and informal sectors, have become two distinct economies in Zimbabwe. With the former vulnerable to complex tax regimes and inconsistent monetary policies, the latter has no regard for both.
In some circles, the informal sector has been referred to as the grey economy, shadow economy, underground economy, parallel sector, and the cash economy.
- Econet Life, an EcoCash Holdings Zimbabwe insurance unit, has launched a unique micro-pension fund product that allows people in the informal sector to save for retirement
- The new product, called Dura/Isiphala Pension Fund, was launched in Kariba at the weekend and is expected to drive the uptake of pensions by workers in the informal sector
- Meanwhile, on March 27, 2019, President of Nigeria Muhammadu Buhari launched the Micro Pension Plan (MPP) as part of his administration’s efforts to ensure that Nigerians who worked hard during their active years in service of their
Liquid Intelligent Technologies (Liquid), a business of Cassava Technologies (Cassava), has announced the completion of its 100% acquisition and delisting of Telrad, an Israeli-based technology company.
The Tel Aviv Stock Exchange (TASE: ILA) listed Telrad has a substantial presence in 13 countries across the Middle East, South America, the United States of America, Eastern Europe, and Asia.
- Liquid Intelligent Technologies (Liquid) has announced the completion of its 100% acquisition and delisting of Telrad, an Israeli-based technology company
- Telrad has a substantial presence in 13 countries across the Middle East, South America, the United States of America, Eastern Europe, and Asia
- The company provides cutting-edge technological services, including information technology, networking, cloud infrastructure, geoinformatics, and cybersecurity
The company supplies high-quality technological goods and services to businesses and governments worldwide. The company provides cutting-edge technological services, including information technology, networking, cloud infrastructure, geoinformatics, and cybersecurity.
Mobile carriers and blue-chip organisations can …
The sale of a 54.15 per cent ownership in Jubilee Holdings’ Mauritian subsidiary to insurance industry titan Allianz SE is likely to be finalised within the next month.
At this point, Jubilee Holdings would be entitled to a payment of US$2.3 million (KShs. 270 million).
- Jubilee Holdings will get Sh270 million from the sale of its Mauritian subsidiary to Allianz SE next month
- Upon completing the Mauritius sale, Jubilee will have collected a total of Sh7.75 billion. Allianz would also invest Sh3 billion as the biggest stakeholder in the businesses
- Allianz is set to acquire a 66 per cent stake in Jubilee Insurance Company of Mauritius Limited
Allianz will buy additional shares from Aga Khan Fund for Economic Development SA (AKFED), which will then sell its ownership of 11.85 per cent of Jubilee Insurance Company of Mauritius Limited to it. This will allow Allianz to acquire a total stake in …