.Watu Credit head of commercial at Chris Rumenda/HANDOUT Kenya’s Buy Now, Pay Later sector is set for rapid expansion as industry players predict more firms and products will enter the market once regulation to oversee the model is finalised.The proposed Business Laws (Amendment) Bill 2025, which is currently undergoing public participation, seeks to bring BNPL services under the supervision of the Central Bank of Kenya (CBK). Stakeholders say this will not only safeguard consumers but also give confidence to new entrants in a space that is still relatively young in Kenya. “We expect regulations that will come in to protect both the…
Author: by JACKTONE LAWI
Kenya could be heading toward a health crisis if it fails to address its health funding system, with experts warning that rising population and health needs are outpacing the growth of the country’s healthcare workforce.According to projections, Kenya’s population will surpass 63 million by 2030, pushing up demand for healthcare services at an annual rate of 4.7 per cent.In contrast, the health workforce is growing at just 3.4 per cent per year, leaving a widening gap that threatens the delivery of essential services and the achievement of Universal Health Coverage (UHC).The looming shortfall comes at a time when the government…
Ignazio Gonzalez (centre), the Executive Director of Cummins Powergen Markets EMEIA (Europe, Middle East, India and Africa), Vijay Gidoomal (left), Group CEO of Car & General Kenya Plc and Erick Sangoro (right) the Managibg Director of Cummins C&G look at an engine being rebuilt during the official opening of the new Cummins Engine Rebuild Centre at the Cummins C&G premises along Lusaka Road in Industrial Area, Nairobi./HANDOUTCummins C&G has launched a modern engine rebuild centre in Nairobi, a facility designed to improve service and support for Cummins engines and power equipment across East Africa.The centre, located along Lusaka Road, was…
The team of doctors who performed the rare heart procedure at Nairobi West Hospital./HANDOUTA team of cardiologists in Nairobi has successfully performed a rare heart procedure known as ‘Intravascular Lithotripsy (IVL)’, placing Kenya alongside South Africa as the only countries on the continent where the treatment has been carried out.The procedure was led by Dr Vijaysinh Patil, an interventional cardiologist at The Nairobi West Hospital. It was performed on a 68-year-old man who had suffered a heart attack three weeks earlier. Tests revealed that he had multiple severely calcified blockages in his coronary arteries.Such blockages are difficult to treat because the…
Attendees at the Wikimania 2025./HANDOUT Leading African technology experts and open knowledge advocates are exploring how the world’s largest free encyclopedia can embrace AI innovations without compromising its core principles of neutrality and reliability.The talk on the future of Wikipedia in the era of artificial intelligence took centre stage at Wikimania 2025, in an event that brought together 135 countries.The conference spotlighted East Africa’s growing role in contributing to open-source projects like Wikipedia that power knowledge on the internet.Speaking during a keynote panel at the first-ever Wikimania hosted in East Africa, Ugandan computer scientist Joyce Nakatumba-Nabende and South African data scientist…
National Assembly Speaker Moses Wetang’ula./FILENational Assembly Speaker Moses Wetang’ula has identified fraud and mismanagement as the greatest threats to the growth of cooperative societies in the country.While calling on farmers to take control of their cooperative societies and remove corrupt officials, the speaker said the credibility of the societies lies on how they deal with those accused of mismanaging funds and exploiting members.Speaking at St. Peter’s Catholic Church in Sirisia Constituency, Bungoma County, Wetang’ula said farmers must not tolerate theft and fraud within their cooperatives, warning that such practices were weakening the agricultural sector.“We must remove corrupt officials from our…
Treasury CS John Mbadi/FILEAs Kenyans marked Labour Day on May 1, there were growing concerns as most salaried workers said they were taking home less than a third of their net salaries.This was occasioned by the new statutory deductions that President William Ruto’s administration had effected, with experts saying this was in contravention of local and international labour laws.This is premium contentSubscribe to Continue ReadingHelp us continue bringing you unbiased news, in-depth investigations, and diverse perspectives. Your subscription keeps our mission alive and empowers us to provide high-quality, trustworthy journalism. Join us today to make a difference!Already Subscribed? Sign in…
Treasury to avoid costly loans, opt for pension cashThe government argues the move will shield Kenyans from high debt repayments occasioned by currency fluctuations. Published Date: 2025-05-19 20:51:05 Author: by JACKTONE LAWI Source: The Star
Central Organisation of Trade Unions (Kenya), COTU (K) Secretary General Francis Atwoli/FILE“Businesses that fail to honour the implementation of the six per cent salary increase should shut down,’’ this is a tough stand by one of Kenya’s most decorated labour activist, Francis Atwoli.When he is not calling out those faulting labour laws, Atwoli, a common figure at Labour Day Celebrations in Kenya since 2001 is making powerful political statements, some of which have come to shape Kenya’s social economic fabric.This is premium contentSubscribe to Continue ReadingHelp us continue bringing you unbiased news, in-depth investigations, and diverse perspectives. Your subscription keeps…
Karsan Ramji Director Kishor Varsani and Peter Kibera IWG Country Manager E.A/HANDOUTNairobi is experiencing a rapid rise in flexible workspace solutions as businesses and freelancers seek cost-effective and adaptable office environments.Nairobi has in the past few years seen an influx of co-working spaces, shared offices, and serviced workspaces catering to startups, remote workers, and large corporations embracing hybrid work models.The latest entrant in the space is, flexible workspace provider International Workplace Group (IWG) which has partnered with Ndovu Cement to launch a co-working space at Purple Tower on Mombasa Road.The new facility aims to cater to Nairobi’s growing demand for these kind…
In an internal Memo seen by The Star, the decision was reached after a series of discussions, beginning with a meeting that was held on February 25.The company, however has moved quickly moved to dismiss claims that it has fired staff working in its check-off loan department insisting that it is streamlining the operations to serve customers better.Mwananchi Credit human resource manager Collins Okello said that all those who worked in the department have been asked to re-apply for their jobs again with interviews set to commence from Tuesday. “Despite concerted efforts to enhance collections and strengthen financial accountability, the product…
Just months ago, Lipa Later, a Kenyan BNPL fintech, was celebrating a significant $10 million (Sh5.69 billion) debt and equity injection, aimed at supporting its ambitious expansion plans across Africa; today it’s under administration.Craft Silicon’s Spotit, on the other hand, has hit over Sh200 million in transactions across multiple merchant partners, a year after launch, signifying consumers’ appetite for fintech solutions that offer flexible repayment opportunities on products and services.According to the 2024 FinAccess Survey, the proportion of Kenyans utilizing BNPL services surged from 2.1 per cent in 2021 to 6.2 per cent in 2024, equating to approximately 1.75 million users.Craft Silicon…
Just months ago, Lipa Later, a Kenyan BNPL fintech, was celebrating a significant $10 million (Sh5.69 billion) debt and equity injection, aimed at supporting its ambitious expansion plans across Africa; today it’s under administration.Craft Silicon’s Spotit, on the other hand, has hit over Sh200 million in transactions across multiple merchant partners, a year after launch, signifying consumers’ appetite for fintech solutions that offer flexible repayment opportunities on products and services.According to the 2024 FinAccess Survey, the proportion of Kenyans utilizing BNPL services surged from 2.1 per cent in 2021 to 6.2 per cent in 2024, equating to approximately 1.75 million users.Craft Silicon…
Just months ago, Lipa Later, a Kenyan BNPL fintech, was celebrating a significant $10 million (Sh5.69 billion) debt and equity injection, aimed at supporting its ambitious expansion plans across Africa; today it’s under administration.Craft Silicon’s Spotit, on the other hand, has hit over Sh200 million in transactions across multiple merchant partners, a year after launch, signifying consumers’ appetite for fintech solutions that offer flexible repayment opportunities on products and services.According to the 2024 FinAccess Survey, the proportion of Kenyans utilizing BNPL services surged from 2.1 per cent in 2021 to 6.2 per cent in 2024, equating to approximately 1.75 million users.Craft Silicon…
Just months ago, Lipa Later, a Kenyan BNPL fintech, was celebrating a significant $10 million (Sh5.69 billion) debt and equity injection, aimed at supporting its ambitious expansion plans across Africa; today it’s under administration.Craft Silicon’s Spotit, on the other hand, has hit over Sh200 million in transactions across multiple merchant partners, a year after launch, signifying consumers’ appetite for fintech solutions that offer flexible repayment opportunities on products and services.According to the 2024 FinAccess Survey, the proportion of Kenyans utilizing BNPL services surged from 2.1 per cent in 2021 to 6.2 per cent in 2024, equating to approximately 1.75 million users.Craft Silicon…
Just months ago, Lipa Later, a Kenyan BNPL fintech, was celebrating a significant $10 million (Sh5.69 billion) debt and equity injection, aimed at supporting its ambitious expansion plans across Africa; today it’s under administration.Craft Silicon’s Spotit, on the other hand, has hit over Sh200 million in transactions across multiple merchant partners, a year after launch, signifying consumers’ appetite for fintech solutions that offer flexible repayment opportunities on products and services.According to the 2024 FinAccess Survey, the proportion of Kenyans utilizing BNPL services surged from 2.1 per cent in 2021 to 6.2 per cent in 2024, equating to approximately 1.75 million users.Craft Silicon…
Just months ago, Lipa Later, a Kenyan BNPL fintech, was celebrating a significant $10 million (Sh5.69 billion) debt and equity injection, aimed at supporting its ambitious expansion plans across Africa; today it’s under administration.Craft Silicon’s Spotit, on the other hand, has hit over Sh200 million in transactions across multiple merchant partners, a year after launch, signifying consumers’ appetite for fintech solutions that offer flexible repayment opportunities on products and services.According to the 2024 FinAccess Survey, the proportion of Kenyans utilizing BNPL services surged from 2.1 per cent in 2021 to 6.2 per cent in 2024, equating to approximately 1.75 million users.Craft Silicon…
Just months ago, Lipa Later, a Kenyan BNPL fintech, was celebrating a significant $10 million (Sh5.69 billion) debt and equity injection, aimed at supporting its ambitious expansion plans across Africa; today it’s under administration.Craft Silicon’s Spotit, on the other hand, has hit over Sh200 million in transactions across multiple merchant partners, a year after launch, signifying consumers’ appetite for fintech solutions that offer flexible repayment opportunities on products and services.According to the 2024 FinAccess Survey, the proportion of Kenyans utilizing BNPL services surged from 2.1 per cent in 2021 to 6.2 per cent in 2024, equating to approximately 1.75 million users.Craft Silicon…
A KCB branch in Nairobi /FILE KENYA’S listed banks have posted a combined net profit of Sh240.1 billion for the year ended December 2024, setting a new record despite a tough economic environment, occasioned by increased bad loans. The record performance, however, comes at a time that commercial banks reported a drop in lending last year. The high interest rates saw Kenyans shy away from costly loans amid an economic downturn that limited their ability to borrow. This comes despite the Central Bank of Kenya (CBK) reducing the base lending rate from 13 per cent in June last year to…
A KCB branch in Nairobi /FILE KENYA’S listed banks have posted a combined net profit of Sh240.1 billion for the year ended December 2024, setting a new record despite a tough economic environment, occasioned by increased bad loans. The record performance, however, comes at a time that commercial banks reported a drop in lending last year. The high interest rates saw Kenyans shy away from costly loans amid an economic downturn that limited their ability to borrow. This comes despite the Central Bank of Kenya (CBK) reducing the base lending rate from 13 per cent in June last year to…
A KCB branch in Nairobi /FILE KENYA’S listed banks have posted a combined net profit of Sh240.1 billion for the year ended December 2024, setting a new record despite a tough economic environment, occasioned by increased bad loans. The record performance, however, comes at a time that commercial banks reported a drop in lending last year. The high interest rates saw Kenyans shy away from costly loans amid an economic downturn that limited their ability to borrow. This comes despite the Central Bank of Kenya (CBK) reducing the base lending rate from 13 per cent in June last year to…
A KCB branch in Nairobi /FILE KENYA’S listed banks have posted a combined net profit of Sh240.1 billion for the year ended December 2024, setting a new record despite a tough economic environment, occasioned by increased bad loans. The record performance, however, comes at a time that commercial banks reported a drop in lending last year. The high interest rates saw Kenyans shy away from costly loans amid an economic downturn that limited their ability to borrow. This comes despite the Central Bank of Kenya (CBK) reducing the base lending rate from 13 per cent in June last year to…
A KCB branch in Nairobi /FILE KENYA’S listed banks have posted a combined net profit of Sh240.1 billion for the year ended December 2024, setting a new record despite a tough economic environment, occasioned by increased bad loans. The record performance, however, comes at a time that commercial banks reported a drop in lending last year. The high interest rates saw Kenyans shy away from costly loans amid an economic downturn that limited their ability to borrow. This comes despite the Central Bank of Kenya (CBK) reducing the base lending rate from 13 per cent in June last year to…
A KCB branch in Nairobi /FILE KENYA’S listed banks have posted a combined net profit of Sh240.1 billion for the year ended December 2024, setting a new record despite a tough economic environment, occasioned by increased bad loans. The record performance, however, comes at a time that commercial banks reported a drop in lending last year. The high interest rates saw Kenyans shy away from costly loans amid an economic downturn that limited their ability to borrow. This comes despite the Central Bank of Kenya (CBK) reducing the base lending rate from 13 per cent in June last year to…
A KCB branch in Nairobi /FILE KENYA’S listed banks have posted a combined net profit of Sh240.1 billion for the year ended December 2024, setting a new record despite a tough economic environment, occasioned by increased bad loans. The record performance, however, comes at a time that commercial banks reported a drop in lending last year. The high interest rates saw Kenyans shy away from costly loans amid an economic downturn that limited their ability to borrow. This comes despite the Central Bank of Kenya (CBK) reducing the base lending rate from 13 per cent in June last year to…