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Business

Equity Bank’s Move To Place Investment Firm Transcentury PLC Under Receivership Suspended

by Daily Trends June 19, 2023

The High Court has suspended the move by Equity Bank to place investment firm Transcentury PLC under receivership.

The basis for the injunction stems from allegations that Equity Bank unlawfully appointed a receiver while negotiations were ongoing, constituting a flagrant breach of legal procedures.

The court-issued injunction effectively halts the appointment of the receivers and restricts them or their agents from taking any actions in their capacity as receivers of the company.

The injunction, issued by Honourable Justice A. Mabeya on June 19, 2023, comes in response to a notice dated June 16, 2023, which Equity Bank had issued to TransCentury PLC.

Transcentury and its subsidiary, East African Cables were placed under receivership over a Sh3.01 billion-shilling loan facility advanced by Equity Bank Kenya Limited.

The court deemed the application urgent and ordered that it be served promptly with a response required within 14 days, leading to a hearing on July 3, 2023.

“For avoidance of doubt, the receivership is temporarily suspended pending inter partes hearing of the application.”

TransCentury PLC expressed its satisfaction with the court’s decision, highlighting the irregularity that tainted the entire process.

“We are delighted to see that the court has recognized the irregularity that marred this very unfortunate and ill-intended process. We considered the bank as a partner and were engaged in what we believed to be positive discussions to reach an amicable agreement, just one day before the receiver was appointed by the bank,” stated Shaka Kariuki, Chairman of TC Group, upon releasing the injunction announcement.

“TransCentury is a significant business in Kenya’s economic landscape, we are committed to meeting our obligation, and hence the reason why we embarked on a Rights Issue transaction at the beginning of the year. Despite the challenging economic environment that Kenya and the world at large faces, we raised money from our shareholders and were preparing to settle on an agreement favourable to the business and the bank.”

The court-issued injunction effectively halts the appointment of the receivers and restricts them or their agents from taking any actions in their capacity as receivers of the company.

This development allows TransCentury PLC to refocus on its business operations and pursue its strategic objectives.

Nganga Njiinu, CEO of TransCentury Group, expressed confidence in the company’s resilient team and their ability to recover the lost time.

Njiinu emphasized their commitment to their mandate of making a transformative impact on Africa’s infrastructure.

“TC Group is steered by a very resilient team and I am confident that we shall recover the time lost as we continue focusing on our mandate of impacting Africa with transformative infrastructure,” Njiinu said.

The company’s Boards extend their gratitude to shareholders, staff, and partners for their unwavering support as they strive to steer the business towards growth.

As the court proceedings progress, stakeholders eagerly await further developments in this case, which holds significant implications for both TransCentury PLC and Equity Bank.

June 19, 2023 0 comment

Business

Why President Ruto must intervene on the Transcentury Issue

by Daily Trends June 18, 2023

written by Daily Trends

The move by Equity Bank to place the infrastructure based investment firm Transcentury and its subsidiary East African Cables under receivership over a debt of Shs 4.8 billion is a wake up call to President Ruto and his government.

As President Ruto strives to create a conducive environment for investors to create and grow businesses in order to create jobs, the predatory move by creditors like Equity Bank will definitely derail the KK government job creation agenda.

Equity Bank this week announced that Muriu Thoithi and George Weru of PriceWaterhouseCoopers (PWC) have been appointed joint receivers of Transcentury with effect from June 16th 2023.

The bank also appointed Thoithi and Weru as joint administrators of East Africa Cables.

In an advertisement placed on local dailies, Equity Bank stated that “ The powers of director (of Transcentury) in terms of dealing with the company’s business and assets no longer apply. Any person who purports to hold, receive, use, or attempt to buy or sell, contract or otherwise deal with the company without the prior written consent of the receivers will be acting in contravention of the law and will be liable to legal action.”

The move has predictably alarmed the business community and every one else who cares about the Kenyan economy.

Everyone understands very well how such drastic and draconian actions by banks have in the past killed healthy companies, leading to massive job losses and sending thousands into poverty.

It’s common knowledge that receiver managers in kenya are like morticians whose clients never live after. Blue Chip companies such as Nakumatt, ARM Cement and Deacons East Africa never survived receivership.

Its still fresh in many people’s minds how the Kenyan horticulture sector suffered when the country’s largest flower firm Karuturi Limited was placed under receivership by Stanbic Bank over a Shs 383 million debt.

More than 3,000 workers lost their livelihood and Naivasha town has never been the same ever after.

The effects of the collapse of Nakumatt chain of supermarkets are still felt today.

Other companies which have suffered under these banks include Kinangop Wind Park, Pan Paper Mills, Spencon, Mumias Sugar and Eveready East Africa.

It is high time President Ruto intervened and saved local investors and businesses from these vulture-like banks who seem to derive sadistic joy in killing companies.

For starters the government must initiate amendments to the receivership laws to curb the cannibalistic tendencies of banks like Equity Bank who hardly care about public interest.
If not checked, the move by Equity Bank will take down another local success story and send thousands of employees into poverty during these hard economic times.

The banks must not be allowed to operate unilaterally without taking into consideration the interests of the staff, other creditors, clients, taxman, regional integration and the economy at large.

The president must intervene and bring together the business community to charter a new way forward for the country before these banks kill kenya’s economy.

Equity Bank must be told in no uncertain terms that its frustrating the government and the country’s economic aspirations .

June 18, 2023 0 comment

Business

From NCBA to Co-operative Bank: How Top Bank Cartels Behave Badly; Hidden Dirty Games

by Daily Trends June 13, 2023

written by Daily Trends

We take a look at some of the news affecting banks in the country after an unprecedented attack on some of the banking CEOs in the country on social media.

In the first of a three series story, we take a look at NCBA Bank and Cooperative Bank in what will be a look at how the leading bankers run these institutions of trust.

Much has been said about the lack of publicity in many banking institutions in the country, the alleged ‘pocketing’ of journalists to kill stories, scandals, fraud and shortcomings.

From a decision to win a tax exemption by NCBA Bank to the decision to allocate majority shares during the Cooperative Bank IPO, this article provides an eye-opener to many underhand dealings by the banks and the management.

NCBA Bank

Kenya’s founding Mzee Jomo Kenyatta family linked bank NCBA Group was accused of allegedly stealing Sh300,000 from an account held at the bank belonging to a lady named Tabitha.

In a post by prolific blogger Cyprian Nyakundi, a customer at the bank had written “7 weeks ago, over Sh300,000 was stolen from my @NCBABankKenyaaccount. The post drew haaundreds of tackles with a slew of accusations on the bank that enjoyed State patronage through its life.

“I’ve been chasing this up to no avail. Please help me retweet this to get their attention. More info on my IGTV. Will be sharing more on IG stories too”, Tabitha whose Twitter name is @CravingYellow) wrote.

In 2021, a NCBA customer was reportedly counting huge losses after the bank’s asset department sold his lorry after paying the bank Sh907, 000 before the lorry’s auction date, after a notice which was given by the bank.

A letter from the bank, Ref: 4521420097, dated January 22, 2021 previously requested the client, through Urban Digital Services, of repossession of his vehicle over the “inability to meet the monthly installments” as earlier indicated in a previous agreement.

Fred Omondi, after the NCBA notice, paid the bank Sh907, 000 on February 10, 2021 and disbursed the remaining amount, as demanded, to the bank, via MPESA. The bank, however, went ahead to sell Fred Omondi’s lorry KCY 274D, on February 22, 2021 after paying Sh907,000 on February 10, 2021 before the auction date.

In 2020, the financial institution was put on the spotlight after some of its customers wrote to the Central Bank of Kenya (CBK) seeking help over fictitious transactions running into millions of shillings and unlawful Credit Reference Bureau (CRB) listing.

Last year, prominent lawyer Philip Murgor accused NCBA of wrongly listing him as a defaulter after lack of due diligence in the Fuliza Loan led to a person using details belonging to the Senior Counsel in the application of a Sh1,300 loan facilty.

Murgor accused NCBA of failing to verify the information before erroneously listing him with credit reference bureaus as a loan defaulter.

NCBA listed Murgor with credit reference bureaus on May 7, 2021, after its records showed that a mobile phone number registered with the prominent lawyer’s identity card had defaulted on the Fuliza loan.

The phone number at the heart of the Sh1,300 loan dispute was, according to NCBA, registered using Murgor’s identification documents, but Murgor says the line is in another individual’s name.

During the suspicious merger of CBA Bank and NIC Bank, the entity is said to have benefited from a National Treasury tax exemption, benefitting from the patronage of retired President Uhuru Kenyatta.

Last year, many people across the country complained about the alleged exemption that saw the Kenyan taxpayer feel change on hundreds of millions of shilling.

NCBA managing director John Gachora has said that the lender is ready to pay Ksh350 million in taxes waived by the state during the merger between NIC Bank and CBA Bank in 2019.

The media-shy and closely guarded bank CEO has been at pains to put the record straight on the illegality that continues to cloud the otherwise professional operations of the entity.

The announcement comes at a time there has been unofficial tax demands from the government to former President Uhuru Kenyatta and his family.

Gachora said that the law was followed when the waiver was awarded. He said if the court ruled otherwise, the bank would draw a Sh350 million cheque to the Kenya Revenue Authority the following day.

“People need to understand that the waiver was given to NCBA or the merging parties with over 26,000 shareholders behind the banks that were merging,” he said.

At the time of the merger, the Kenyatta family held a significant stake in CBA, while NIC was owned by business mogul Philip Ndegwa. Politicians affiliated to Kenya Kwanza administration claim that President Kenyatta used his influence to get the waiver.

“What I assure Kenyans is that should the court find that NCBA was not entitled to the waiver, the day the court makes that decision, the following day we will send a cheque of Sh350 million. That I can assure you,” the MD said during an interview

The current court case was filed by Busia senator Okiyah Omtatah, who argued that the process for the waiver was opaque.

Cooperative Bank

Down at Cooperative Bank of Kenya corruption laden Gideon Muriuki led institution, at the heart of the country’s banking oligarchy has been fighting one accusation after another. From steamy sex scandals, the nepotism, to officially tribalisng the top echelons and mounting customer complaints, they stand in the eye of any storm that engulfs the banking industry that is dominated by one community in the Kenya kaleidoscope.

As a deal to buy into non-performing Jamii Bora Bank gained pace, analysts were worried about due diligence done by Cooperative Bank which had in the past been hit by cases of fraud perpetrated by bank employees who work in cahoots with external persons to obtain money from the bank.

The Gideon Muriuki led Bank was on the spot as having weaknesses in its IT systems, which was attributed to sources within the bank.

Co-operative Bank has reported erratic systems of poor quality and that explains for instance the constant system hitches.

“The former bank chairman’s sons are said to have supplied IT systems to the bank. The same family have also been rumoured to be supplying and tendering with the bank,” says a former employee, sacked in 2017.

The downtime attributed to a technical fault left the bank’s ATM Services, Card transactions at Merchants and other Point of Sale outlets dysfunctional rendering transactions by its customers impossible.

The bank, then announced having moved almost 90 percent of its customer transactions to alternative delivery channels including mobile and ATMs, has 580 ATMs and over 11,000 Co-op kwa Jirani agents across the country and the number is set to increase with the opening of new ATM machines and branches in Northern and Eastern Kenya.

Malfunctioning systems have been reported on December 22, 2017 and the worst would be on July 22, 2014 when the systems failed leaving numerous customers stranded with all manner of complaints.

There are those who found huge sums of money missing from their bank accounts, others could not access their funds, those whose payroll is processed by the bank had to wait for over 4 days to access their salaries.

This also applied to those who had deposited cheques, which took more than four days to clear.

On the Jamii Bora Bank purchase, which is as good as done, financial analysts are wondering why a behemoth like Coop Bank with a big financial muscle can go for a bank that survive by ‘the Grace of God’.

Jamii Bora Bank had in the entire period of its existence remained stagnated, refusing to innovate and introduce any change in the banking industry.

The transaction required regulatory approval from the CBK, Capital Markets Authority and the Competition Authority of Kenya and in the tribal oligarchy and corruption perpetrated by Cooperative Bank management ensured that it was easy for CBK boss to give the nod at first sight of the application.

The Nairobi Securities Exchange-listed Co-op commenced operations in 1965 and had the fourth highest market share (9.63 percent) in the banking industry at the end of last year.

In contrast, Jamii Bora, started in 2010 after the acquisition by City Finance Bank, and had a market share of 0.12 percent, putting it at position 38 out of 39 banks.

The deal will lead to changes in market share as well as expansion of Cooperative bank branches.

Jamii Bora’s last published financials are for the first quarter of 2018 when it had assets worth Sh12.5 billion.

Its liquidity ratio was in negative 11.1 percent compared with CBK’s minimum of 20 percent as at end of March 2018, leaving it in liquidity deficiency of 31.1 percent.

Who Owns Cooperative bank of Kenya?

In the past, Coop Bank has been accused of pummeling smaller banks and stagnating their growth, a case that was recorded in the acquisition of Spire Bank from Industrialist Naurdshad Merali in 2017.

The bank, bought by Mwalimu Sacco threatened the real existence of Coop Bank as the third biggest in the country and an immediate threat that most teachers in the country could have opened accounts there was going to be a real effect on the customer base.

The country has more than 200,000 teachers and an immediate switch is music to the bank manager’s ear.

Many economists says there is no logical explanation behind these constant system challenges that when resolved leave many customers in tears?

What is the CEO who is also the MD doing other than fighting over land, laundering money and getting embroiled in love scandals only to emerge the highest paid when customers get wanting services?

The insider intimated that the bank’s internal investigations have established a link between employees who know about malfunction in some of the bank’s IT systems and account holders who take advantage of the system.

While some of the cases have ended up in the court and others remain under police investigation, the bank, keen to protect its image, has hardly reported the full extent of the problem to authorities and has on occasions refrained from pressing charges against account-holders implicated in the fraud.

June 13, 2023 0 comment

Business

A Big Cartel In Higher Education Funding! MKU Founder’s Land Saga Deepens As Ruto Ally Exposes His Dirty Dealings

by Daily Trends June 9, 2023

written by Daily Trends

Thousands of squatters in Naivasha, Kenya who were evicted from a land that they claim was allocated to them by the former government of President Daniel Moi (deceased) have written to Kenya Commission for Human Rights seeking their intervention after Simon Gicharu , the founder and chairman of Mount Kenya University reportedly bought it through rogue land officials and influential politicians who served in the government of retired president Kenyatta.

In a letter dated 9th June 2023, directed to Kenya Commission of Human Rights, the 3,000 squatters notes that if the situation is not contained , they remain vulnerable and their leaders who have been fighting Mr Gicharu’s atrocity may remain in jail after they were arrested by police while protesting about the latter but they could not afford a cash bail or bond of Sh 200,000 and are now rotting in prison.

‘’We are over 3,000 squatters living in Naivasha,Nakuru county who have lived in 16,000 acres that was allocated to us by former president Daniel Moi given our vulnerable situations.The squatters are drawn from Kenya,Uganda and Tanzania.Few months ago, Simon Gicharu who owns Mount Kenya University with the help of another tycoon Benjamin Kipkulei acting for Uhuru era politicians and rogue police officers used police and arrested some of our members,’’ reads part of the letter

‘’They are still in remand since they could not afford to pay a cash bail or bond that was being asked by the court of Sh 200,000.We kindly ask for your intervention because no one is listening to us and the media has been bribed not to air our grievances.We have been to the Nakuru Governor Susan Kihika office and county commissioner’s office but they seem to be compromised too.We have documents to show that this land is ours,’’ reads the letter further that is copied to the office of the Deputy President Rigathi Gachagua.

Last month, the squatters had promised to match to Mount Kenya University campus in Nakuru to show their disappointment with Simon Gicharu for grabbing their land but they claim some leaders were bought off.

Locals who spoke to this publication said they have lived there for decades and in the year 2019,the government set up a local school for 3,000 squatters and promised them part of the land will be subdivided to them since they had no where to go.

Last month , Mr Gicharu who locals says landed last week with the chopper to inspect the eviction and subsequent uprooting of the crops where the houses were burnt.

‘’We have nowhere to go, Simon Gicharu who owns Mount Kenya university claims he bought this land from the government and now wants us out. He is using the police to defeat justice, the media has been compromised, they come to interview us and later get money from Gicharu and never air our grievances,’’ Mary Mwathi, 78, says in a video seen by this publication when the group camped at the office of Nakuru Governor Susan Kihika and Regional commissioner seeking an audience with them over the matter.

Most farmers claim the specific area they have called home is called Ndabibi and Kosovo.

Mr Gicharu has already funded the construction of a police post in the contested land as an effort to deter the squatters from resettling in.

The new development comes just days after Kikuyu Member of parliament Kimani Ichungwah and majority leader in the National assembly questioned how Mount Kenya university has been the only private university in Kenya that has been receiving the highest number of government sponsored students at the expense of other private and public universities.

The outspoken legislator noted that Simon Gicharu who owns the university behaves like a cartel to get higher student placement funded by taxpayers in exchange for bribes.

June 9, 2023 0 comment

Business

Infinix Sets New Standard For Affordable Smartphones With Breakthrough All-Round Fast Charge As NOTE 30 Series Launches in Kenya

by Daily Trends June 6, 2023

written by Daily Trends

Infinix today announced the release of its new NOTE 30 Series, which includes the NOTE 30 Pro, NOTE 30 VIP, and NOTE 30.

This latest offering from Infinix features the brand’s hallmark charging capabilities, with an improved All-Round Fast Charge solution that can reach up to 68W wired and 15W wirelessly.

In addition, the NOTE 30 Series boasts a smooth and responsive 120Hz refresh rate display and an ultra-clear triple camera system with lenses up to 108MP.

Furthermore, Infinix has partnered with JBL for upgraded tuned sound, and created Ultra Powerful Signal technology, offering users incredible performance and efficiency like never before on an Infinix device.

“At Infinix, we designed the NOTE series with the aim of providing users with a powerful phone that can keep them connected to the world, anytime and anywhere. To achieve this, we developed the first-ever All-Round Fast Charge solution, which not only delivers speed but also ensures safety, intelligence, and flexibility. With this solution, users can take charge of their lives in all scenarios, 24/7. All devices have a premium display, ultra-clear camera, JBL-tuned sound system and advanced connectivity capabilities. We are confident that the NOTE 30 Series is a top choice for power users seeking an unbeatable value.” – Liang Zhang, Deputy General Manager at Infinix.

The Fast Charge Revolution

Infinix’s NOTE 30 Series comes packed with groundbreaking new charging innovations. The NOTE 30 Pro features 68W All-Round FastCharge, which can charge its 5000mAh battery from 1% to 80% in just 30 minutes. It also supports a 15W wireless FastCharge, a first in its price segment. The NOTE 30 and NOTE 30 VIP support a 68W All-Round FastCharge which rapidly powers up the devices on the go. All models have unparalleled durability, exceeding the industry average by withstanding 1,000 full charging cycles while retaining 80% of their energy.

The NOTE 30 Series introduces Infinix’s all-in-one solution for charging. Reverse Charge enables the device to work as a power bank for other devices in emergency situations.

Bypass Charge filters the current to supply power directly to the main board, which controls the phone’s temperature, resulting in an average temperature drop of 2℃ – 7℃.

These advances in temperature control keep the device cool, allowing users to charge and play games simultaneously.

The series also includes Intelligent Power E-IQ further advancing the charging experience with AI algorithms and security measures that protect users from overcharging.

Finally, PD 3.0 is fully supported, allowing the charger to fast charge other smart devices alongside the user’s NOTE 30 Series device.

The Perfect Companion for Mobile Entertainment

The NOTE 30 Series portfolio of devices features a 120Hz refresh rate display that benefits from Infinix’s Smart Refresh and Magellan Engine.

These features enable the device to adjust its refresh rate based on the user’s scenario, providing a smoother experience while consuming less power. Whether gaming or watching videos, the NOTE 30 Series’ display enriches the viewing experience.

Moreover, all models include an eye-care mode with TUV Rheinland Certification, which protects users’ eyes during extended screen time.

Infinix’s NOTE 30 Pro offers a viewing experience like no other. The 10-bit AMOLED display has a peak brightness of 900 nits, a 5,000,000:1 contrast ratio, 1920Hz PWM Dimming, and 360Hz Touch Sampling Rate. This means users can expect a responsive, vibrant display in every situation.

The ultra-thin bezels and stereo dual speakers, which are sound by JBL and certified by Hi-Res, make the NOTE 30 Series an industry standout for its audio capabilities.

Next-level Performance

Focusing on performance, the NOTE 30 Series is fully equipped with powerful internals specifically designed to empower the user to get more out of their day.

The NOTE 30 Pro and NOTE 30 4G use powerful MediaTek Helio G99 processors, with a 6nm process for energy efficiency and high performance. With Vapor-Chamber Liquid Cooling technology on the NOTE 30 Pro, the device stays cool under pressure, thanks to a patented 10-layer material with a 2,000mm2 chamber area.

Meanwhile, the NOTE 30 5G features a MediaTek Dimensity 6080 6nm 5G processor and dual 5G SIM support, providing users with lightning-fast 5G speeds.

The NOTE 30 Series is proud to introduce its latest innovation: self-developed Ultra Power Signal (UPS) technology.

Designed specifically for weak signal environments, this groundbreaking technology is optimized for weak signal user scenarios, including basements, elevators, suburban areas, and landscape handheld.

With a new antenna design and proprietary algorithms, UPS technology greatly improves signal performance in signal jitter, signal dense, and signal weak conditions.

It can intelligently switch antennas, accelerate the network, and reduce the lag rate when using low-latency applications such as gaming, downloading content, and watching videos.

The NOTE 30 Series has achieved a remarkable up to 40% increase in cellular signal strength and a 100% increase in WiFi signal strength in landscape mode, ensuring a seamless and uninterrupted entertainment experience.

Capture With Clarity

Infinix is proud to announce that the NOTE 30 Series features an impressive triple camera system.

The Infinix NOTE 30 Pro and NOTE 30 VIP come with a whopping 108MP ultra-high pixel primary camera that captures every moment with maximum sharpness and crystal-clear transparency.

Meanwhile, the NOTE 30 model is equipped with a 64MP primary camera to cater to different user needs. Additionally, all three devices feature automatic color gradation technology to enhance image quality when under backlighting and glare conditions.

The camera capabilities of the NOTE 30 Series are further enhanced with features such as Dual View Mode, which allows users to capture moments with both front and rear-facing cameras simultaneously.

Sky Remap adjusts the sky in photos, while the Street Photography Filter helps users master the art of street photography. With all these features, users can capture stunning images that meet their exact specifications. Moreover, the NOTE 30 Pro’s 32MP selfie camera with Style Makeup helps users show off their multi-faceted personality.

Additional Key Features

The NOTE 30 Series boasts an impressive 8GB+256GB of memory, with an Extended RAM technology upgrade of 8GB+8GB (equivalent to 16GB) for superior multitasking performance and storage capabilities.
Running on XOS 13 built on Android 13, the NOTE 30 Series delivers a sleek user interface, new sound design and motion graphics. XOS 13 also offers upgraded PC connection 2.0, Lightning Multi-Window, and Notepad features, ensuring a personalized and intuitive experience.
With the NOTE 30 Series’ Multi-Functional Near Field Communication (NFC), users can enjoy the convenience of short-range wireless technologies, making it possible to share payloads of data such as transit passes or charge to credit cards.

Pricing and Availability

The NOTE 30 VIP, NOTE 30 Pro and NOTE 30 will cost Ksh 45,999, Ksh 33,999 and Ksh 27,999 respectively, and will be available in Classic Black, Interstellar Blue, or Sunset Gold. Prices and availability for the NOTE 30 Series will vary from retailer to retailer.

June 6, 2023 0 comment

Business

Infinix Partners With JBL To Bring Audio Excellence To Their Next Generation Smartphones

by Daily Trends May 17, 2023

written by Daily Trends

Infinix has announced its new collaboration with HARMAN’s legendary audio and technology brand JBL, to bring Sound by JBL audio excellence to the next generation of their highly-regarded NOTE Series.

At Infinix, the user experience is a top priority, and sound quality plays a fundamental role in that experience.

Together with the 75-year legacy of acoustic quality and expertise that the brand is renowned for, the upcoming release of the NOTE Series will be enhanced by the Sound by JBL tuning along with the latest innovations from Infinix.

Users can look forward to an upgraded audio experience in the next generation of Infinix’s NOTE Series, thanks to this exciting new collaboration with JBL. Stay tuned for more information on the release date and features of the new series.

“We’re incredibly excited about our collaboration with the JBL brand here at Infinix. Our hardware expertise combined with JBL’s acoustic technology means we can provide an enhanced audio experience to customers worldwide. With a device that delivers upgraded sound quality, we’re confident we’re in exceeding users’ expectations.” – Liang Zhang, Deputy General Manager at Infinix.

Integrated with JBL Tech
When building the NOTE Series, Infinix collaborated closely with JBL engineers to optimize the software system of their new generation NOTE Series.

The software processing within the Note series was tuned to deliver JBL’s signature sound that ensures well-balanced mid-tones as well as rich bass, along with high-quality and faithful sound reproduction.

“The JBL brand is all about delivering the fullest sound experience, and we are therefore extremely proud to collaborate with the Infinix team to deliver superior audio through Sound by JBL.

Rooted in a shared passion for sound, we know the Infinix team is committed to audio excellence in their mobile devices, and we will continue to work together bringing upgraded sound quality to more consumers as we look forward to deepening our cooperation with Infinix for more product development.” – Roumu Hu, Vice President and General Manager, HARMAN Embedded Audio.

Availability
Infinix intends to introduce this new technology in their upcoming phone models, starting with the next release of the NOTE series.

The launch is scheduled for May, so customers can look forward to experiencing the enhanced sound quality of this innovative technology very soon.

May 17, 2023 0 comment

Business

iTel Launches Newest 4G P40 Smartphone Featuring Powerful Performance

by Mustafa Juma May 17, 2023

written by Mustafa Juma

itel, a reliable smart life brand who ranked No.1 global smartphone brand among $100 price segment, unveils its newest 4G smartphone P40, with a bunch of worth mentioning features and long-lasting power performance.

Powerful Battery to Bring Long-lasting Entertainment

To start with it, itel P40 draws power from 6000mAh mega battery, which can ensure super long usage time and long-lasting entertainment experience, supporting 15 days standby, 32 hours calling, 62 hours music playing and 8 hours gaming time.

Along with its 18W Type C fast charge, users can experience more daily usage benefits of fast charging, engaging 2 hours chatting in 10 minutes charging.

P40 also embedded with AI Power Master, itel’s intelligent battery lab, which can optimize battery performance and maximize its battery life and efficiency.

Bigger Storage and Bigger Screen to Gain Smoother Performance

Compared to the previous itel P series smartphone, this new series P40 has the memory upgrade to support large data storage and multiple applications switch.

It offers two memory model choices: 64+7GB and 64+4GB, to store more than 26000 photos and bigger RAM to boost smoother performance with less latency.

Meanwhile, its Memory Fusion Function can effectively integrate 3GB ROM space to RAM, extending to 7GB running space.

For screen, P40 comes with the 6.6” HD+ Water Drop display, features 90% screen-to-body ratio and 72% colorfulness, which can push perfect colors and resolution to the higher edge. Its better screen makes all your content look true to life.

Clearer Rear Camera to Save Every Detailed Moment

In terms of camera, P40 is packed with a clearer 13MP rear camera compared to the last generation, to clarify every details of our highlight moments. Also it carries out with various of shooting modes, including Pro Mode, Panorama Mode and Time-lapse Mode.

Smarter shooting experience to create more valuable videos and make users become their own life director.

Concerned with its energetic design, P40’s pattern is inspired by racing tracks, the trending stripe design brings a sense of speed and energy.

P40 goes for three colors: Force Black, Dreamy Blue and Luxurious Gold.

P40, regarding as itel’s P series flagship model, presents strong energy with its 6000mAh mega battery and upgraded storage and HD+ display.

Offering better value-for-money proposition, it features powerful performance in a affordable price to satisfy young users’ entertainment experience in emerging markets.

For more product information, please visit: https://www.itel-life.com/global/.

RRP is Ksh 11,800 and Is available in all authorized mobile retail outlets countrywide.

May 17, 2023 0 comment

Business

Massive Corruption and Mismanagement Bringing Down Kemri

by Daily Trends May 1, 2023

written by Daily Trends

Trouble is brewing at Kenya Medical Research Institute (KEMRI) as disappointed staff bitterly complain about corruption, nepotism and mismanagement by acting Director General Prof Elija Songok.

According to sources within the institution, morale is at historic low and important research work has ground to halt due to graft.

To make matters worse, there has been no substantive DG or CEO at Kemri for three years since Prof Yeri Kombe retired. Prof Sam Kariuki who was in acting capacity until March 2023 took a sabbatical leave due to frustrations.

He handed over to Prof Elija Songok who was imposed by the Principal Secretary for Health Engineer Peter Tum. Songok had been serving as the director of research.

Songok was elevated to the position in dubious circumstances reeking of nepotism. Tum, PS for health is a village mate (they are actually next door neighbors) to Songok. They have a relationship going back decades and are close family friends.

When Tum’s children were studying in Canada, it’s Songok who hosted them in his house.

Curiously, Songok is earning double salary as the acting DG Kemri and also as a staffer at University of Manitoba in Canada. He is actually a Canadian citizen is its curious how a dual citizen can be appointed to head such an important Kenyan institution.

The biggest case of corruption involves a product developbed by Kemri known as Ujiplus.

While serving as the director of research, Songok led the team of researchers that came up with Ujiplus, a herbal flour to be used in fighting neglected tropical diseases.

Ujiplus is a fortified herbal formulation designed to be taken as a school meal snack for both nutrition and deworming.

Scientists at Kemri developed the integrated deworming and nutritious porridge but in a move that stinks of corruption, Songok grabbed the product and is privately selling it.

Usually when Kemri comes up with a product like this, it is sent to the commercial department which sells it to generate revenue for the research institution.

In a move that should interest EACC, Songok founded a company known as Terik Foods and Nutraceuticals Limited which now produces and sells Ujiplus yet the product was developed by Kemri.

Interestingly, Terik is the name of the sub clan in Nandi community where he hails from.

To make matters worse he has roped in his 2 sons into this corrupt scheme. The boys operate a shop just next to Kemri headquarters in Nairobi where they sell the Ujiplus. The sons also live in his official Kemri residence.

When Tum served as the CEO of KMTC, he had a personal assistant known as Barnabas Kimatoi. The he has since seconded the same guy to serve as Songok’s PA.

There are also irregular appointments and promotions happening under Songok’s watch at Kemri.

He has promoted his cronies and partners in dubious dealings to influential and lucrative positions.

Songok has removed Dr Kizito Lubano as director of research and development and replaced him with a Dr Nelly Mugo with who Songok has business interests with.

Dr Mugo runs an NGO known as Partners in Health Research and Development (PHRD) which is funded by Kemri. She runs the NGO with a Dr David Bukusu whose spouse Prof Elizabeth Bukusu also work at Kemri.

Another case of conflict of interest involves Dr Onono Maricianah who runs an NGO known as Kargeno Group. Kargeno group focuses on sexual reproductrive adolescent and child health.

Songok has appointed Dr Onono to be director of scientific programs and partnerships while still running the NGO.

In another case of malpractice at Kemri, the director, legal, Martin Machira whose contract is lapsing in August 2023 is irregularly pushing the HR committee of Kemri board to renew his contract.

Machira has blatantly continued to engage external lawyers are exorbitant cost to the institute against government directive when he should be the one going to court to represent the institution.

Another issue if the irregular hiring of the internal auditor. When James Mwangi was serving as internal auditor, he exposed a lot of rot in the finance department including the cash purchases totaling Shs 52 million which were highlighted in Auditor General Report 2020/21.

So the finance director Antony Wachira hatched a plot to get Mwangi out of the way. Wachira colluded with an intern who he had an affair with to falsely accuse Mwangi with attempted rape. The intern entered Mwangi’s office at noon and started screaming that Mwangi wanted to rape her.

When Mwangi was suspended over the issue, Wachira arranged for his own cousin Patrick Gitau to be seconded from treasury as the acting internal auditor.

When Wachira was made the acting director of Corporate Services, he used the position to confirm Gitau as the internal auditor even before Mwangi’s case was heard and determined.

Mwangi was eventually cleared by court and reinstated to his job but his office had been irregularly filled. Now Kemri has 2 internal auditors.

Another problem causing low morale within Kemri is the failure by Songok to pay some 2.27 billion shillings owed to unionisable staff as extraneous allowance.

May 1, 2023 0 comment

Business

The HOT 30 Series From Infinix Launches In Pomp And Color

by Daily Trends April 11, 2023

written by Daily Trends

In the heart of Nairobi, the Infinix HOT 30 Series launch brought together a diverse group of University students, fans of the brand, industry leaders and experts for a day of thought-provoking performances and networking opportunities.

The event, which was organized by Infinix Kenya, took place on 7th April at KICC grounds.

The launch was an amusement themed product launch with a concert theme which was a highly orchestrated event designed to generate excitement and buzz around the new HOT 30 Series.

The event was attended by industry insiders, media representatives and fans of the brand with Fanta, Blaze by Safaricom and Onfon as launch partners.

The event kicked off with performances from finalists of competing dance crews from the Hottest dance crew challenge.

This was followed by a series of presentations for the
HOT 30 Series product introduction.

One of the highlights of the event was the dramatic product unveiling which was ushered by fireworks display and lighting up of the KICC building at the heart of Nairobi.

In addition to the interactive sessions, the event also provided ample networking opportunities for attendees.

Participants had the chance to connect with industry leaders and experts, and to exchange ideas and best practices.

“The launch was on another level. It was super tremendous and the performances too were lit”, Ronah student from the University of Eldoret.

“We’re thrilled with the success of this year’s event,” said Cynthia, Infinix Kenya Marketing Manager, “We had an outstanding group of performances and attendees, and the experiences were both mind blowing and inspiring. We look forward to continuing to build on this success in the years to come.”

Overall, the HOT 30 Series was a tremendous success, bringing together a diverse group of industry leaders and experts for a day of thought-provoking performances from famous Gen z artists and networking opportunities.

The event demonstrated the power of collaboration and innovation in driving change, and left attendees feeling inspired and energized.

We look forward to seeing you at the next launch event!

For more details visit: http://www.infinixmobility.com/

April 11, 2023 0 comment

Business

Infinix Takes Mobile Gaming to New Heights with the All-New HOT 30 Series

by Daily Trends April 11, 2023

written by Daily Trends

Infinix Kenya has officially launched the HOT 30
series, which includes the HOT 30, HOT 30 Play and HOT 30i models.

The HOT 30 series has undergone significant upgrades to its processor, screen, fast charging, and video features.

These upgrades make it a leading gaming phone with superior screen quality, powerful performance, and the fastest charging capabilities in its class.

“At Infinix, we place great importance on understanding the needs of our young customers and are dedicated to incorporating innovative technologies into our mobile phone development. With the HOT 30 series, we’ve equipped these devices with powerful gaming processors, ample memory, lightning-fast charging capabilities, and the most vivid highdefinition screens available in their class. We believe these features take the mobile gaming experience to new heights. Moreover, the HOT 30 series is competitively priced, which we believe will impress every young user seeking high-quality mobile devices.” – Mr. Shane

Built for mobile entertainment

Infinix recognizes that young people often use mobile gaming to relieve stress, but ordinary cell phones often provide low image quality, high heat generation, and unstable network speed, causing inconvenience and annoyance.

To address these issues, Infinix has introduced the HOT 30, a reliable and high-performing gaming phone that offers high image quality, low heat generation, and strong network speed for a sublime smartphone.

Gaming experience

The HOT 30 is equipped with a strong and power-balanced Helio G88 processor with an 8-core architecture design containing two powerful ARM Cortex-A75 cores with a maximum frequency of 2.0GHz.

This ensures that games run faster and smoother. With
up to 16GB of expandable memory, the HOT 30 doubles the performance of the physical 8G memory, enabling faster loading times, and supporting up to 18 applications to be opened simultaneously.

In terms of software features, the HOT 30 integrates the highly optimized Dar-Link 3.0 gaming engine, which provides intelligent sensing of load scenarios and stage-specific matching of cooling strategies to guarantee 3D games stability.

The HOT 30 also supports Link-Booming network optimization technology for multi-network concurrency, with Wifi and data working together to keep players connected during critical moments.

The XArena gaming space is specially designed for gaming fans, with cool icons promoting a gaming atmosphere and an easy-to-spot real-time game status, creating the perfect environment for smartphone gaming.

Powered for the day Smartphones not only require powerful performance but also long-lasting battery life.

The HOT 30 series addresses this need with a 5000mAh battery that can last throughout the day.

In addition, the HOT 30 offers the exclusive Power Marathon power-saving function, which enables the phone to standby for a whole day or operate continuously for 2 hours at the 5% limit.

This feature ensures that users can enjoy an uninterrupted gaming experience while on the go.

For gamers who need a quick battery boost during critical moments, Infinix has equipped the HOT 30 with 33W fast charging technology.

This charging technology is about 2 times faster than the previous generation, enabling the phone to charge up to 55% in just 30 minutes.

With the combination of a 5000mAh large battery and 33W fast charging, the Hot 30 is an ideal choice for epic weekend group gaming sessions and can support avid gamers until the end.

Experience ultra-bright gaming in style

To deliver an immersive gaming experience, the HOT 30 boasts a 6.78-inch perforated screen with a 1080P high resolution, 90Hz high refresh rate, and 270Hz touch sampling rate.

The screen has excellent clarity and coherence, with timely touch response for rapid micro-operations. It also includes self-developed dark area display enhancement technology, making outdoor display clear and bright, with a maximum brightness of 600nit
and a color gamut of 96% DCI-P3 for vivid visual performance when viewing photos and videos.

The HOT 30 is designed with a light aesthetic on the back that creates dynamic shadows that provide a unique sense of liveliness unlike any other phone on the market today.

The side fingerprint is sensitive and efficient for convenient phone unlocking.

The HOT 30 also features a slim body with a dual-speaker design and DTS technology, providing a threedimensional surround sound effect for immersive viewing and gameplay.

Other practical features include NFC, and more, making it a comprehensive flagship model.

Crystal clear optics

The HOT 30 is equipped with a 50-megapixel main camera lens featuring a larger F1.6 aperture, providing greater light intake, along with a multi-frame overlay algorithm that enhances night shot quality and offers a range of night filter styles.

These features make it an ideal choice for photography enthusiasts, whether capturing moments on busy city
streets at night or stunning landscape shots.

The HOT 30 also includes a film mode, providing a lot of editing templates, which allows users to easily capture their vlogs without editing, soundtracks or transitions by themselves.

With its competitive price and exceptional gaming experience, the HOT 30 series is expected to make its mark on smartphone gaming in 2023.

Infinix is committed to providing fast and comfortable experiences through affordable top-of-the-line game phones, accessible to today’s youth.

Availability

The HOT 30 Series RRP will vary from shop to shop.

April 11, 2023 0 comment

Business

BangBet Kenya: The Ultimate Online Gaming and Betting Destination in Kenya

by Daily Trends April 4, 2023

written by Daily Trends

Online gaming and betting have taken the world by storm, and Kenya is not an exception.

The country has seen a surge in the number of online gaming and betting platforms that cater to all types of players.

Among these websites, BangBet Kenya stands out as one of the best online gaming and betting destinations in Kenya.

This website has been gaining popularity in the online gaming and betting industry, with many players considering it the ultimate gaming and betting platform in Kenya.

Launched in 2019, BangBet Kenya has quickly gained a reputation for its user-friendly interface, extensive game selection, generous bonuses, and excellent customer support.

The website is licensed and regulated by the Betting Control and Licensing Board (BCLB), which ensures that all its operations are fair, transparent, and secure.

The website caters to all types of players, from beginners to experienced players, and offers a variety of games and betting options.

One of the key factors that make BangBet Kenya the ultimate online gaming and betting destination in Kenya is its extensive game selection.

The website offers a wide range of games that cater to all types of players, including sports betting, virtual sports, casino games, and live dealer games.

The sportsbook section of the website offers betting options for a variety of sports, including football, basketball, tennis, rugby, and cricket.

The virtual sports section offers betting options for virtual football, horse racing, greyhound racing, and more.

The casino section of the website is packed with a wide range of games, including slots, table games, and live dealer games.

The slots section offers a wide variety of games, from classic slots to video slots, with different themes and features.

The table games section offers games such as roulette, blackjack, baccarat, and poker.

The live dealer games section offers games such as live roulette, live blackjack, and live baccarat, giving players a real-life casino experience.Another key factor that makes BangBet Kenya the ultimate online gaming and betting destination in Kenya is its commitment to responsible gambling.

The website offers tools and resources to help players gamble responsibly, such as self-exclusion, deposit limits, and reality checks.

One unique selling point (USP) of BangBet Kenya is its mobile app. The app is available for both Android and iOS devices and offers a seamless gaming experience on the go.

The app is easy to use, fast, and offers all the features and games available on the website. The app also offers exclusive bonuses and promotions for mobile users.

BangBet Kenya is also known for its excellent customer support.

The website has a comprehensive FAQ section that answers most common questions. If players have any further questions or issues, they can contact the customer support team via live chat or email.

The customer support team is available 24/7 and is responsive and helpful.

The website also offers a variety of bonuses and promotions for players. New players can enjoy a welcome bonus when they sign up and make their first deposit.

The website also offers reload bonuses, cashback offers, and free spins promotions for existing players. The website also has a loyalty program that rewards players for their loyalty.

April 4, 2023 0 comment

Business

Introducing The Next Big Thing: Infinix Hot 30 To Be Launched In Kenya On April 7

by Daily Trends March 31, 2023

written by Daily Trends

The Latest Smartphone from the Infinix HOT Series! Get ready to experience the cutting-edge technology and innovative features of the HOT Series newest smartphone.

With its sleek design and powerful performance, this device is set to revolutionize the world of mobile technology.

Equipped with the latest hardware and software, this smartphone boasts a high-speed processor and advanced camera system that will capture every moment with crystal clear detail.

Whether you’re an avid photographer, a social media influencer, or simply someone who loves to stay connected on the go, this device has everything you need. But that’s not all! The HOT’s Series newest smartphone also comes with a range of exciting features designed to enhance your user experience.

From a sleek and intuitive interface to an advanced security system, this device has it all. And with Infinix’s commitment to youth empowerment, it was only right to invite students from Universities all over the country to share an innovative experience.

Infinix kicked off on high gear since they launched the #MuHOAT Dance challenge, with top 3 finalists standing a chance to win a cash prize at the launch on ,7th April.

The launch will feature performances by the faves amongst Genzers mostly with brand’s commitment to promoting talent and creativity as young as possible. Infinix has in addition partnered with like minded brands like Fanta and Blaze by Safaricom.

So get ready to experience the future of mobile technology. Stay tuned for the official launch of the Infinix HOT 30 and be the first to get your hands on the hottest device of the year!

For more details visit: http://www.infinixmobility.com/

March 31, 2023 0 comment

Business

Long Con: How Mandago Administration Colluded With KCB, Agents To Fleece Uasin Gishu Parents In A Scholarship Scam

by Daily Trends March 4, 2023

written by Daily Trends

In May 2021, the Uasin Gishu County Government partnered with Tampere University, Finland, in a programme that would see students from the devolved unit airlifted to live, study and work in the foreign country.

It was a dream come true for many, given the yearning of young Kenyans to join universities overseas.

Many, especially those from humble backgrounds, had enthusiastically applied for the opportunity, hoping it would save them from the tedious immigration processes that come with obtaining travel documents.

The first batch of learners left the country in September 2021, three months after the deal was signed – the 51 students were to pursue medicine and other science-related courses: 25 were going to pursue degree courses and 26 were to pursue diplomas.

The icing on the cake was that the successful applicants in the programme were guaranteed employment in Finland upon completion of their courses.

Because of this, many families took a chance, organising fundraisers to raise the fees to enable their sons and daughters to pursue the dream that would alleviate them from their challenging backgrounds.

The county government went ahead to open an account – the Uasin Gishu County Government Overseas Trust Fund – at KCB Bank to collect the tuition fees the students were required to pay.

Under the deal, the devolved unit was to act as a guarantor for the students in their respective universities in payment of their tuition fees.

The county government agreed to collect money from the parents and remit it as a lump sum, thus there was no agreement between parents and the universities to pay the tuition fees directly to the institution.

On September 14, 2021, former Governor Jackson Mandago (now the county senator) flagged off the first batch of 51 students to travel to Finland to study in a partnership that sought to produce qualified health personnel for the international labour market, while at the same time addressing youth unemployment.

Some of the parents are demanding a refund of their money terming the entire arrangement a scam.

The complaints prompted the formation of an ad hoc committee to establish the legal framework on which the Finland scholarship programme was anchored. The team is looking into whether there is a memorandum of understanding between the county government and the targeted Finland universities.
The committee was informed that 202 students are in Finland under the programme, which was to be implemented at Tampere, Jyvaskala and LUT universities, among others. According to the county education department, Max-global acted as the agent in the recruitment of students and the county stood in for the bank statements for the students.

Committee Findings

The ad-hoc committee has recommended disciplinary action against officials implicated in the scam. It has further recommended a refund of money paid as fees by parents under the much-hyped Uasin Gishu students airlift programme.

The committee found out that senior County officials colluded with Kenya Commercial Bank (KCB) and agents to fleece parents of millions in a Finnish scholarship scandal that saw learners airlifted and dumped in Europe.

Following its investigation, the team, whose report was endorsed by the county assembly for consideration, now wants the Ethics and Anti-Corruption Commission (EACC), the Directorate of Criminal Investigations (DCI), and other relevant agencies to move in and investigate the implicated senior county officials for forgery, abuse of office and integrity.

The committee led by Mr Gilbert Chepkonga has endorsed the recovery of the stolen money to support some of the students who are said to be stranded in Finnish universities.
According to the report, the Uasin Gishu County Government, under the stewardship of former Governor Jackson Mandago, now the Uasin Gishu Senator, opened the ‘Uasin Gishu County Government Overseas Trust Fund’ account in Kenya Commercial Bank (KCB) for purposes of receiving tuition fees for the students benefiting from the scholarship programme.
Protesting parents led by Mr Reuben Chepses Koech told the committee those who applied for the opportunity were required to pay an interview fee of Sh6,500, but were not issued with receipts for the payment.

The students were then required to pay 8,650 euros — equivalent to Sh1.19 million in school fees, Sh80,000 accommodation fee for three months, Sh30,000 insurance fee, Sh49,000 for a visa, Sh5,000 for Covid test and 100,000 for their flights.

The eligible candidates were issued with acceptance letters from their respective universities, while the County Government of Uasin Gishu issued them with a certificate of full scholarship.

On September 14, 2021, Mr Mandago flagged off the first batch of 51 students to travel to Tampere to study in various fields, in the partnership that sought to produce qualified health personnel for the international labour market, while at the same time addressing youth unemployment.

However, according to the report by the committee, the implementation of the programme was a highly guarded secret that even then-county head of Education Joseph Kurgat was kept in the dark, despite it being under his docket.
Mr Kurgat told the committee that the programme was not discussed at the county Cabinet level and no policy framework was tabled for Cabinet approval.

Case with KCB

While accusing KCB officials of being part of the bigger plot, the committee is demanding a forensic financial audit of the Uasin Gishu Education Overseas Trust Account at the KCB Eldoret East branch, and that county employees mentioned as beneficiaries of the transactions from the account be suspended pending investigations.

According to bank statements tabled before the committee, several individuals, including senior county officials are among the irregular beneficiaries of funds meant for the students.

“The County Executive to engage the services of an independent and reputable external forensic auditor to audit the account and report back to the county assembly within 30 days.

The forensic auditor’s term of reference shall be to analyse the financial data to look for evidence of the crime,” said the report.

The committee further wants KCB to investigate and take necessary action against its staff for professional negligence, by allowing the Uasin Gishu Overseas Education Trust Account to be opened without conducting due diligence.

The report reveals that some trustees heavily benefited financially from withdrawals from the account, although they were not entitled to a monetary benefit.

March 4, 2023 0 comment

Business

Stephen A. Newton joins Ad Dynamo by Aleph as Managing Director for Africa

by Daily Trends March 2, 2023

written by Daily Trends

Ad Dynamo by Aleph has appointed Stephen A. Newton as its managing director for Africa. Newton will prioritise pan-African expansion and assisting Ad Dynamo by Aleph’s partners in overcoming the challenges of doing business across the continent.

Ad Dynamo by Aleph is Spotify, Twitter, Snap, and Yahoo’s exclusive media buying extension in Africa. As an enabler of digital advertising in emerging markets, the organisation is helping to break down barriers.

“As both a developing market and a continent with a rapidly growing population, Africa is poised to house not only a sizeable portion of the world’s population but also a sizeable portion of the world’s eligible workforce,” says Newton. “I am excited to play a part in implementing Aleph’s goal of breaking barriers.”

“At Ad Dynamo by Aleph, we plan to continue to grow in anticipation of our partners’ needs and solidify our position as a preferred partner,” he adds. “We will build where they need us using tried and trusted methodologies, and we will continue to collaborate to create platforms that reduce the friction associated with doing business in these markets.”

Newton, an entrepreneur at heart, has more than 25 years of experience leading EMEA businesses across the digital space. He is currently on a number of advisory boards for startups and mid-sized African companies that work in different parts of the online space. He is also the chairman and co-founder of The Illuminate Africa Group Ltd., a consulting firm that helps companies achieve their African expansion goals.

Newton has worked as managing director of Google South Africa, vice president and managing director of the Ad Exchange for Google-bought DoubleClick EMEA, managing director of Africa for PostivoBGH, chief executive officer of Date.ce, and interim chief operating officer of Universal Music Group Africa.

March 2, 2023 0 comment

Business

How Tech Can Help Stimulate Micro Economies

by Daily Trends February 28, 2023

written by Daily Trends

By Veerakumar Natarajan, Country Head, Zoho Kenya

Technological progression plays a crucial role in fostering economic growth. A lack of access to technology can hinder local economies, particularly in developing countries such as Kenya and other African nations.

Access to technology can be a game changer for businesses in less urban areas, providing a range of benefits that can help them thrive and expand. For instance, by leveraging tools that automate tasks and utilizing e-commerce platforms, businesses can tap into new markets and streamline operations. Additionally, technology that facilitates the gathering and analysis of data can be particularly valuable, as it allows businesses to gain valuable insights into their own performance and the broader market.

Armed with this information, they can make informed decisions that improve processes, enhance the customer experience, and optimize growth. By leveraging technology in this way, businesses can boost their competitiveness and increase their chances of success, even in a rapidly changing environment. The integration of technology at the micro-economic level can mitigate inequality and foster wealth creation in economically challenged areas, ultimately contributing to overall macroeconomic development and greater stability and long-term growth for both individual businesses and the communities they serve.

Growing small businesses

The most obvious area where technology can have a significant micro-economic impact is among small businesses. This is especially important in markets like Kenya, where statistics from the Kenya National Bureau of Statistics (KNBS) show that the SME sector employs at least 86% of the Kenyan population and contributes about 45.5% to the country’s gross domestic product.

These SMEs not only create employment opportunities, but also play a crucial role in developing the communities in which they operate. They provide a platform for local talent to showcase their skills and can act as catalysts for attracting other businesses to the region, fostering a supportive ecosystem for economic growth.

To make their work easier, SMEs can use technology to their advantage. For example, SMEs can automate time-consuming tasks like inventory management. Similarly, e-commerce tools can significantly expand the reach of SMEs, particularly in remote areas. By leveraging real-time business intelligence, small business owners are able to free up valuable time to focus on their core competencies and drive business growth.

Zoho prioritizes serving underrepresented segments, specifically small businesses in regions that are frequently overlooked. The company places a strong emphasis on providing affordable and accessible technology solutions to meet the needs of these businesses.

Fostering entrepreneurship through low code

With low-code and no-code tools, entrepreneurs do not need to rely on expensive developer resources to build the applications they need. Low-code platforms offer a graphic development environment that allows entrepreneurs to build and test their applications, using snippets of pre-written code, allowing for a far quicker development process.

Additionally, because low-code platforms eliminate some of the more complex parts of the application development process (such as creating frameworks and linking databases), it becomes easier and faster for entrepreneurs to take their solution to market.

Empowering communities

With internet connectivity, a startup can function from anywhere. By opening their offices in small towns or rural areas, they can reduce their operational costs significantly, gaining a longer runway to operate. When companies hire local talent, they are empowering individuals to contribute to their communities and address local issues more effectively instead of them needing to seek employment elsewhere. The retention of highly skilled and talented youth within the community can lead to innovative solutions and drive empowerment for local populations.

Micro matters

From afar, the positive shifts technology brings to individual businesses, entrepreneurs, and community organizations may appear small, but they can have cumulative effects. With enough momentum, these effects can ripple from the community to the municipal, provincial, and even national levels.

Therefore, while it is important to evaluate national macroeconomic policies critically, the influence that technology can have at the micro-economic level should not be overlooked or undervalued.

February 28, 2023 0 comment

Business

AAK Unveils New Brand Identity Aimed At Delivering Better Farming, Better Food & Better Health

by Daily Trends February 28, 2023

written by Daily Trends

The Agrochemicals Association of Kenya (AAK)/ CropLife Kenya unveiled a new brand identity today that more strongly reflects the ongoing transformation on its strategy towards delivering “Better Farming, Better Food, Better Health” to its stakeholders.

In the wake of changing global food and health needs, AAK will continue focusing on ensuring “human well-being through food, nutrition and health, and the sustainable use of our ecosystems.”

At the heart of this rebranding is a new logo and identity that communicates and reaffirms AAK’s/CropLife Kenya’s positioning and philosophy of sustainable high-quality food production and associated health benefits.

“Food and health needs have changed the world over, requiring us to reinforce our positioning in line with these changes and market expectations,” said Patrick Amuyunzu, the AAK Chairperson. “To this end, we are excited to inform you of the proposed sharpened positioning and benefits of AAK as seen through the eyes of our stakeholders.”

Speaking during the unveiling of the new brand identity during a breakfast meeting held in Nairobi, Mr. Amuyunzu said that as the leader in pest management, AAK is building on its position as a “reliable and trusted source” of information and networking for all stakeholders.

“AAK is a facilitator, collaborator and reliable advocate of the policies and strategic linkages for improved food production and positive social contribution,” It will broaden its appeal and be able to expand to a new space. Today’s event will help increase relevance and value and drive growth to our members – Mr. Wachira Mureithi, Vice Chairperson of AAK

The new brand image resonates with oﬀering solutions… not just issues of crop protection. “Our new position in the market will be a brand that reinforces our commitment to human well-being (food, nutrition & health) and sustainable use of ecosystem services and is envisaged to drive and solidify AAK as the authority in the market on matters concerning sustainable farming practices.”

Our new brand outlook will also build and leverage on our international partnerships with CropLife international, CropLife Africa Middle East and other development partners, so as to further achieve our common objectives.

The AAK stakeholders and membership is drawn from the Ministry of Agriculture, the Pest Control Products Board (PCPB), partners, and AAK member companies. AAK would like to reiterate its commitment to work with the government and all its stakeholders towards the delivery of 100% food security, safety, and nutrition commitment in a sustainable manner now and in the future.

AAK has a rich history spanning 64 years with a focus on improving the lives of Kenyans through the provision of life-changing technologies for farmers.

In 2005, AAK registered CropLife Kenya as a shift towards alignment with the global pesticide industry. AAK is therefore a member of CropLife Africa Middle East and consequently a member of CropLife International, which is the global representative of the pesticide and plant science industry.

The association stewards its products throughout their life cycles, from manufacture, distribution and use. In addition, following product use, the industry has developed programs to collect and recycle empty containers, to train pesticide users, extension agents, agrodealers and manufacturers in the responsible use of pesticides, AAK also runs awareness programmes to protect end users from the negative effects of counterfeited pest control products among other initiatives.

February 28, 2023 0 comment

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