Nairobi, Kenya 8 Aug 2019 – Little Ride Kenya has launched the first Health Insurance covers for its drivers in the Kenyan market in partnership with APA Insurance and MicroEnsure, a leading provider of micro insurance in emerging markets.
The cover will cater for costs such as payment of their medical bills, transport to hospital, compensation for lost income, in addition to cover for funeral expenses.
Little Ride drivers who are unable to work due to being hospitalised claim a daily benefit of up to Sh2,000.
In addition, the product also covers up to Sh50,000 personal accident benefit and funeral expenses up to KES 50,000 upon death of the insured.
Speaking during the official launch of the automated insurance solution, APA Chief Executive Officer, Catherine Karimi said “Through our partnership with MicroEnsure and Little Cab, APA Insurance is bringing affordable healthcare and funeral cover to Little Cab drivers. By offering access to these services we improve the lives of the drivers and their families and reduce the overall healthcare costs for everyone. APA Insurance is committed to providing affordable insurance to all income groups in Kenya.”
All claim benefits are paid to the beneficiary’s mobile money wallet.
“We are delighted to be partnering with Little Cab and APA Insurance to further MicroEnsure’s mission of providing innovative, ground breaking insurance solutions to the mass market across Africa with products and services that have the power to truly transform and improve lives,” saidKiereini Kirika, MicroEnsure, Regional Director, East Africa.
As a way of promoting the global agenda of Universal Health Coverage (UHC), the cover offers Little Cab drivers the freedom to visit any of the over 4,000 NHIF accredited hospitals and clinics across the country, to easily access medical care.
“This product does not only provide insurance benefits, but also offers simplicity for the drivers who are always mobile. With just a single tap, drivers can enrol onto the product and also submit a claim using the Driver App,” said Alex Mwaura, GM – Little Cab. “This is part of Little Cab’s commitment to help our drivers to improve and safeguard their health and wellbeing, as well as that of their family members. With an affordable premium and fully automated process, this partnership gives our drivers convenience and a peace of mind that they have coverage at all times.”
The insurance programme is being rolled out nationwide and will be available to all Little Cab drivers in Kenya and soon to be rolled out across East Africa.
Nairobi, June 17- Fine Edge Media, an innovative and ground-breaking 360-degree media publishing house is set to officially launch in the market at the end of June.
The Creative Media house will be responsible for publishing 14 Magazine publications namely; MoneyBoss Magazine, EdgeAfrica Magazine, EdgeWoman Magazine, Styles Magazine, Czara Magazine, Soul Mate Magazine, GizmoAfrica Magazine, Edge Property Guide, Voice & Brand, Krazy Weekender, Shoppers review, GameSwag Magazine, Entreprize Magazine and PureMotion Magazine that will be available both in print and online editions.
Each issue will aim to have 80% of its content focused on telling African stories exclusively, with the article format being; profiles of companies, private investors, business leaders, entrepreneurs, the world of technology today, Products & Brands as well as insightful statistics about the market and the region’s business landscape.
Speaking while announcing the upcoming launch, Fine Edge Media CEO Mr. Paul Wachira highlighted the revolutionary ambitions by the publisher in the region.
“Our entry into the East African industry signals a change in provision of informative and entertaining content across the region. Our outlook is wide-reaching, and with the brands and solutions that we offer, there is no sky too high”, said Mr. Wachira.
“We aim to be a top media publishing house, offering access to journalistic expertise, digital innovations and branding creativity, comparable to no other on the continent,” added Mr. Wachira.
The Premiere issue of the magazines will be released on the 27th of June with a target distribution of 30,000 outlets, with the subsequent issues scheduled to be released on a monthly basis.
The key focus for them will be; business, technology, financial markets, entrepreneurship, personal finance, sports, Investing, Technology, Politics, Leadership, Entrepreneurship, Small Business, Cloud Computing, Security, Management, etc.
“We have invested heavily in this business in an effort to bridge the gap that currently exists in the market in terms of offering 360 degrees solutions ranging from content creation to publishing and distributing the same”, added Mr. Wachira.
The pioneering Media and publishing house aims to provide a range of solutions ranging from print publications, creative design, animation, PR & Event management, and audio-visual production.
Alongside this, Fine Edge Media is also set to launch an interactive website for all the publications as well as mobile apps for each publication
NAIROBI, Kenya, Jun 17 – Kenya is set to host the London based InsurTech conference that is coming to Africa for the first time, in July this year.
The conference dubbed Africa 3.O is the first conference outside of London organized by MarketMinds. The event is in partnership with the UK government and will be held on 15th and 16th July, 2019. Our local marketing and logistics partner is Evolution East Africa and TheCure Agency Communications firm are providing PR services.
The two-day event will provide the first platform for tech start-ups in the East African Region specifically in health, agriculture and frontier InsurTech to collaborate with incumbents to seek solutions for challenges facing the insurance sector.
The event themed ‘Sealing the Insurance Gap’ will also look at ways governments and regulators will enable insurance innovation in the region.
The move comes at a time when the insurance penetration in the continent continue to lag behind globally. The current insurance penetration in Africa stands at 3.5 percent with South Africa leading the continent with a penetration of 17 percent against a global average of 6.28 percent.
Kenya’s penetration is currently at a staggering 2.93 percent.
“We are very excited to be launching Africa 3.0 – a new insurance ecosystem – on July 15th and 16th in Nairobi with the UK Government. Africa, Kenya is a global leader in tech, we’ve got a world class line up and united purpose to seal the insurance gap – if you are in AgTech, HealthTech or InsurTech, this is the forum for you to partner with the leading insurance companies in the region,” said Sebastian De Zulueta Founder, Market Minds.
According to Insurance Outlook report 2018 by Delloite, the East African insurance market offers vast growth potential, although there are inefficiencies in the value chain that significantly affect shareholder returns. The reports add that insurers should consider financing and buying InsurTech start-ups for services that include mobile technology to reduce claim adjudication time, drones to improve claim and risk evaluation; interactive websites, making real-time digital sales, IoT technology (wearables; home, car, and commercial sensors) to improve pricing, underwriting, and claims management, among others.
The event is targeting over 200 tech start-ups and investors.
“East Africa Tech start-ups will have an opportunity to pitch for funding and partnership opportunities for their businesses during the conference. An ecosystem of new partnerships between the tech sector, insurance and broader financial services is critical to deliver the enormous growth opportunities that serve the needs of the consumer and engage tech entrepreneurs, incumbents and investors alike,” de Zulueta added.
Key Speakers at the conference include: Efosa Ojomo, Global Prosperity Lead at The Clayton Christensen Institute & co-auther of The Prosperity Paradox, Rehan Butt, Group Business Director MicroEnsure, Dr. Tom Herbstein Insurance Prosperity Specialist Department for International Trade, Zach Oloo Founder and CEO Changamka MicroInsurance, Fanie Hattingh Founder and CEO Health Solutions Africa, Michael Macharg Special Advisor, International Mobilization, Babylon Health & Adelaide Odhiambo Founder and CEO Blue Wave Insurance.
Africa 3.O is the first event by MarketMinds in Africa after hosting over 30 major events in London for the last five years.
Nairobi, Kenya, Jan 29-Huawei officially launched its 5G multi-mode chipset Balong 5000– along with the first commercial 5G device powered by it, the Huawei 5G CPE Pro.
Together, these two new products provide the world’s fastest wireless connections for your smartphone, your home, the office, and on the go.
Balong 5000 officially unlocks the 5G era. The chipset supports a broad range of 5G products in addition to smartphones, including home broadband devices, vehicle-mounted devices, and 5G modules.
It will provide consumers with a brand new 5G experience across multiple scenarios.
“The Balong 5000 will open up a whole new world to consumers,” said the CEO of Huawei’s Consumer Business Group, Richard Yu. “It will enable everything to sense, and will provide the high-speed connections needed for pervasive intelligence.
Powered by the Balong 5000, the Huawei 5G CPE Pro enables consumers to access networks more freely and enjoy an incredibly fast connected experience. Huawei has an integrated set of capabilities across chips, devices, cloud services, and networks. Building on these strengths, as the leader of the 5G era, we will bring an inspired, intelligent experience to global consumers in every aspect of their lives.”
With a small form factor and high degree of integration, Balong 5000 supports 2G, 3G, 4G, and 5G on a single chip. It effectively reduces latency and power consumption when exchanging data between different modes, and will significantly enhance user experience in the early stages of commercial 5G deployment. Balong 5000 marks a significant step forward for the Balong series of chipsets.
Balong 5000 is the first chipset to perform to industry benchmarks for peak 5G download speeds. At Sub-6 GHz (low-frequency bands, the main spectrum used for 5G), Balong 5000 can achieve download speeds up to 4.6 Gbps. On mmWave spectrum (high-frequency bands used as extended spectrum for 5G), Balong 5000 can achieve download speeds up to 6.5 Gbps – 10 times faster than top 4G LTE speeds on the market today.
Balong 5000 is also the world’s first chipset that supports both standalone (SA) and non-standalone (NSA) network architectures for 5G. With non-standalone, 5G network architecture is built on top of legacy 4G LTE networks, whereas standalone 5G, as the name implies, will have its own independent architecture. Balong 5000 can flexibly meet different user and carrier requirements for connecting devices throughout different stages of 5G development.
Balong 5000 is the world’s first multi-mode chipset that supports Vehicle to Everything (V2X) communications, providing low-latency and highly reliable solutions for connected vehicles. Huawei’s 5G smartphones powered by Balong 5000 will be released at this year’s Mobile World Congress in Barcelona.
As a 5G pioneer, Huawei began research and development in 5G as early as 2009, and is currently the industry’s only vendor that can provide end-to-end 5G systems. Huawei has more than 5,700 engineers dedicated to 5G R&D, including over 500 5G experts. In total, Huawei has established 11 joint innovation centers for 5G solutions worldwide.
By May Wahito
Nairobi, Sep 20- Huawei Technologies has signed a Framework Distribution Agreement in Kenya with Redington Gulf, a distributor of IT Telecom and Lifestyle products in the local market.
Under the partnership, Huawei will work with Redington to provide cutting-edge equipment such as data centre facilities, and both IT and communications hardware and software for the Kenyan market.
The products are backed by an experienced technical team to provide training and support to handle turnkey client solutions deployment.
Announcing the partnership at the Huawei-Redington Partner Summit that was attended by more than three hundred local ICT companies, Huawei and Redington committed to providing training and support alongside world-leading products and solutions, and enabling these companies to grow their business in order to provide ICT solutions to drive Kenya’s digital transformation.
On his part, Huawei Technologies Kenya CEO Mr Stone He, stressed the need for companies to integrate digital technology into all areas of business in partnership with stakeholders in order to remain relevant in a rapidly changing business environment.
“In order to maximize Huawei’s robust ICT capabilities, Huawei has teamed up with partners and developers to explore the road to digital transformation. Huawei credits strategic partnerships to its growing success around the globe. As a result, this in turn creates business success for customers using Huawei’s competitive products.” Said Mr. Stone He
Cabinet Secretary –Ministry of Information, Communication & Technology, Joe Mucheru, emphasized on the government’s commitment to fostering partnerships in the IT sector to drive the Big 4 Agenda.
“Our government is working to develop ways for ICT companies to promote and provide their innovative solutions to the government through a white box initiative which will be launched soon. Our government is willing to partner with Kenyan companies to drive Kenya’s digital transformation. There are many opportunities for all of you as part of this especially in the Big Four.”
To date, Huawei has had more than 13,000 channel partners, 860 solution partners, and 2,900 service partners working around the world to deliver solutions to enterprises.
By May Wahito
Nairobi, Sep 20-Standard Chartered Bank has unveiled a new system where customers can now withdraw cash from Automated Teller Machines (ATM) without using cards.
Customers can either withdraw for themselves or they can generate a voucher to a third party who can withdraw the cash from any Standard Chartered Bank ATM at no cost.
The card-less withdrawal function has been introduced on the mobile banking application following a successful piloting phase and has been enabled on the Bank’s entire newly upgraded ATM network.
According to the Head of Retail Banking, David Idoru, for one to access cash, a customer will be required to generate a voucher number via the StanChart mobile banking App, which will then be inputted into the ATM to authorise the withdrawal.
“As soon as a client generates a voucher it is valid for two hours. If the Voucher number is not utilised within the two hours, the transaction is reversed and the amount credited back to the client. The service will attract the same charges as the current ATM Debit card withdrawal charges,” said Idoru.
Standard Chartered has spent over Sh200 million to upgrade its entire ATM network converting the machines to advanced Cash Deposit Machines (CDMs).
The rollout of the machines is part of the ‘Digital by Design’ business model, through which Standard Chartered Bank Group is investing $1.5bn to revamp its technology globally over three years.
The Bank is targeting to migrate over 80 percent of transactions to non-branch channels by 2020.
By May Wahito
Nairobi, Sep 18- Caritas Microfinance bank has been recognized for its use of technology in delivering services to its customers.
The bank scooped two awards – the Best microfinance Bank in the Use of Digital Solutions to Enhance Customer Experience and Best Microfinance institution in e-services in Kenya during the 2nd Digital Inclusion Awards held last Friday.
The recognition comes barely six months after the micro lender was feted as the best microfinance Bank in Kenya during the Think Business Awards ceremony.
Caritas, whose key shareholders are various institutions in the Catholic Church, was granted a nationwide license by the Central Bank of Kenya (CBK) in June 2015 becoming the twelfth microfinance bank in Kenya.
Currently, about 80 per cent of customers’ transactions are done on the mobile banking platform and other Alternative Business Channels i.e. agency and internet banking.
“These awards are an affirmation of our concerted efforts to ensure we continuously improve the customer journey whenever they interact with us at any of our outlets’, said Mr. George Maina, Caritas CEO.
The awards come at a time when technology and banking are converging to facilitate provision of ever convenient services to consumers.
Nairobi, Kenya, July 5-More than 3.2 Million Kenyans file income tax returns as deadline closes More than 3.2 Million Kenyans filed their 2017 income tax returns as the filing period officially closed on Saturday 30th June, 2018.
The improvement is significant with a 60% growth over last year, which saw two million Kenyans file their returns by 30th June; the number has grown by more than a million this year.
This is attributed to efficiency of the iTax platform and the increased awareness campaign undertaken by Kenya Revenue Authority (KRA), encouraging early filing of returns as well as on-site filing support extended to organizations countrywide.
“We value you as a taxpayer. Thank you for being among the more than 3.2 Million responsive Kenyans who filed their annual income tax returns and all others who complied in other tax obligations. KRA recognise your contribution towards making the country self-sustainable,” said Commissioner of Domestic Taxes Department, Mr Benson Korongo.
We have a new baby in the market: Isuzu mu-X, the new SUV Model launched Isuzu East Africa (Isuzu EA) is the name of the baby and comes with great features that any motor vehicle enthusiast will salivate for.
Launched at a colorful ceremony in Nairobi this week, the seven-seater vehicle with an intuitive 5-speed automatic transmission will retail at Ksh 6.6 million. ‘quite pocket friendly!
Speaking at the event, Isuzu EA Managing Director, Rita Kavashe, said the mu-X will target the urban lifestyle segment that has experienced rapid growth over the last few years.
“We are delighted to introduce the Isuzu mu-X to the SUV market. This is a vehicle designed for the urban lifestyle professional, and people who love travel and adventure,” said Rita.
“Customers will find that the Isuzu mu-X is a sporty vehicle that comes with extra attitude, a versatile comfortable cabin and excellent all-terrain performance. While offering a premium passenger car experience, the mu-X has been developed to stand out and stand apart in every aspect,” she explained.
The Isuzu EA MD explained that the mu-X builds on the Isuzu brand’s dependable heritage and fantastic legacy of reliability, performance and efficiency in this market. Rita described the Isuzu mu-X as the ideal SUV for the modern family, and the vehicle of choice for anyone looking for a sophisticated, stylish vehicle that meets their lifestyle needs.
“The mu-X brings with it exciting features such as mobile phone connectivity, to enable our customers remain in touch with the world while driving safely. It also boasts seamless multi-media integration to the infotainment system that includes a built-in video screen for passengers’ entertainment during long trips,” noted Rita. “With its good ground clearance and protected underbody, our customers will enjoy superb off-road capabilities while traveling,” added Rita.
Speaking on safety, Rita described the vehicle’s impressive features that guarantee the highest safety standards for customers.
“The mu-X comes with various safety options such as the Anti-lock Brake System (ABS) with Electric Brake-force Distribution (EBD), and Brake Assist (BA) features providing great control on any terrain,” she said.
For maximum road grip during acceleration and high-speed cornering, the vehicle is equipped with Electronic Stability Control (ESC) and Traction Control System (TCS). The Isuzu mu-X has been awarded a 5 Star Rating by Australasian New Car Assessment Program (ANCAP) safety body.
The Chief Guest at the mu-X launch, Mr. Kimitoshi Kurokawa, President Isuzu Motors International Operations (Thailand), shared his excitement at the introduction of the vehicle to the Kenyan market.
“This is the first time we are introducing this outstanding vehicle to the African market. Plans are on-going to also launch the mu-X in South Africa later this week. So we can say that Kenya is the first country in Africa to start marketing the Isuzu mu-X! The vehicle has done very well in the Australia, New Zealand and Asian markets, and we are confident it will be equally well received in the African markets,” stated Mr. Kimitoshi.
To ensure customers enjoy a stress-free driving and ownership experience, Rita announced a 3-year service maintenance package as part of the introductory sales offer in the market. The new vehicle will be available on retail at Isuzu EA’s dealership network across the country, and in their Kampala and Dar es Salaam dealerships where customers will access professional servicing and quality genuine spare parts for the vehicle
By Jackie Newstead, Hogan Lovells
New technologies have the potential to transform how we think about and use real estate property as well as create efficiencies or change the way it is monetised. From blockchain to solar energy, here are a few disruptors that have the potential to transform the real estate landscape in Kenya.
Blockchain technology provides secure evidence of the ownership of assets and make transfers of or encumbrances on those assets. It allows every property to have its own digital address where all information relating to it may be stored, in a universal system on a national or international scale. This includes ownership and financial information, taxes, bills, liens, easements, building performance, physical characteristics and the transaction history relating to the property.
Access to such information is either made available to anyone or encrypted with limited access.
Blockchain technology provide for fast, efficient and secure transfers of real property interests, and it can be used to enhance the efficiency of the mortgage finance sector to track ownership of borrower payments, covenant compliance and other ban activity, with smart contracts working to enforce obligations and identify defaults, potentiality reducing mortgage servicing costs and due diligence costs.
Autonomous vehicles have the ability to transform how we think about and use real property, the same way that roads, waterways, railways and airports influenced the creation of cities and suburban centres. The possibility for a revolutionary change in the location, use and design of buildings cannot be understated.
People’s choice of where to live could be less dependent upon access to fixed public transportation networks and more disbursed. Children’s schools choice could be less dependent on location and bussing.
Car parks could be redeveloped for other uses or allow for more efficient use of total space as car parks are transitioned into developed property, as cars will move to less density populated areas to “wait” for their owner, or more likely take on other activities, such as delivery of packages or driving others as an Uber car.
The need for appropriate logistic hubs for long-haul truck shops and logistics will change too, affecting many commercial and industrial properties as well.
The use of internet auction sites and data rooms have been exploding over the past few years to help monetize real property and reach the largest group of potential purchases quickly and easily.
We see this as useful for “commoditized” real property – simply to understand. However, for more complex transactions with larger price tags, its use may be years away, and will likely require a strong blockchain infrastructure.
Energy efficiency is something that developers strive for in their building as it helps their bottom line. Its primary benefit will be in suburban areas, schools, shopping centres, factories, warehouses, where the roof space is significant compared with the building density.
As the cost and efficiency of solar panels increases, they will become a common fixture in the landscape. In addition, buildings that generate solar power may be able to use similar contracts and blockchain technology to facilitate the negotiation and sale of this power into the national grid, enhancing the productivity of an investment.
Mobile applications – the great disruptor
Mobile applications and the ability to work remotely will affect the need for how we use office space. We already see companies that use hoteling to allow their workforce to work flexibly and other companies like WeWork that create a sublease shared office environment that are competing with traditional models. This age of flexible work environments will change how offices are designed and used, and owners will need to adapt to keep their assets financially viable.
We may also see applications using augmented reality (such as the recent hit Pokémon Go) start to affect the real estate sector as well.
The path of progress
Although everything and everyone uses real estate (weather to live, shop, work, play, commute, house our electronic “cloud” or transmit our energy etc.) how we use it will be changing as technology advances, until we leave this planet.