Kenya: Latest News
Peter Pedroncelli, 7:41 am AFKI Original
Mary Keitany of Kenyan stormed to her third consecutive New York City Marathon victory on Sunday, pulling off a stunning victory in a time of 2:24:26. After moving away from the leading pack before the halfway point of the race, Keitany kept an excellent pace to win the event that she has become very familiar with after wins in 2014 and 2015.
Kevin Mwanza, 5:22 am
Geremi Njitap, one of Cameroon’s most successful footballers, was last week elected the head of National Union of Cameroon Footballers (SYNAFOC), while in Ethiopia, Haile Gebrselassie, one of the world’s athletics legends in long distance and marathon racing, was on sunday elected the president of the Ethiopian Athletics Federation (EAF) in Addis Ababa
Staff, 12:01 am
Obama’s push for LGBT rights has shifted attitudes globally but some are fighting it. Washington, D.C.-based World Bank lends money in developing countries. This year, it researched LGBT discrimination globally and collected data. The bank created a new advisor whose job is to report violence gainst LGBT in the 136 countries in which it does business. Fifty-four African countries want a new U.N. investigator suspended whose job is to investigate human rights violations against LGBT. There’s a good chance their resolution will pass.
Kevin Mwanza, 4:48 am
Paul Allen, the 21st richest person in the world and Microsoft co-founder, plans to sell 10 solar-powered micro-grids that his private company, Vulcan Impact Investing, built in Kenya over the last two years. The grids in Kajiado and Samburu counties have capacity ranges of between five to six megawatts. They have been used to transform people’s lives through provision of electricity to schools and business premises.
Dana Sanchez, 1:46 pm
Nairobi traffic is among the worst in Africa. With 3.915 million people, the city has tried for years without success to solve the gridlock in the CBD. Kenya’s souped-up minibuses — some with names, flashing lights and onboard entertainment — are often blamed for the traffic. Kenyan regulators have tried repeatedly to ban them. Brian Wanyama is on a one-man quest to document matatus before they’re forced to disappear.
Dana Sanchez, 11:12 am
Africa’s largest lender, Johannesburg-based Standard Bank this year made $2 billion in loan commitments to Chinese-owned development projects in Africa, and it plans to help Chinese entrepreneurs seek African investment opportunities in areas such as retail. Access to credit remains a challenge for many Africans. Standard Bank says its opportunities lie in working “on the yuan’s internationalization and helping Chinese companies transform from … contractors to investors.”
Tom Jackson, 9:29 am AFKI Original
E-commerce in Africa is a very long-term play indeed. Aside from issues with logistics, there are also problems with online payments, which still suffer from a lack of trust, and the sheer fact Africans still prefer to shop online. Moreover, fewer than 30 per cent of Africans have internet access. The Nigerian e-commerce powerhouses, however, have their eyes on a far greater prize, and are prepared to stomach losses for a number of years.
Kevin Mwanza, 4:30 am
Kenya, East Africa’s biggest economy, is embroiled in yet another corruption scandal after $49.2 million (Sh 5 billion) went missing in the Ministry of Health through manipulation of a tendering system, diversion of funds and double payments of goods. The latest corruption case comes barely a week after President Uhuru Kenyatta publicly admitted his administration might be losing the war against a vice that has seen Kenya lose millions of dollars
Dana Sanchez, 5:45 pm
Elephant conservation in protected areas has positive economic returns comparable to investing in education and infrastructure, according to new research. In African game parks where elephant numbers are suffering due to poaching, tourist numbers are suffering too. There have always been strong moral reasons for conserving elephants, a study author said. “Our research now shows that investing in elephant conservation is actually smart economic policy.”
Kurt Davis Jr., 3:41 pm AFKI Original
Sub-Saharan African banks are late to the party. More than 75% of Africans lack access to traditional banking. Fintech offerings with the most potential are the ones that address the unbanked and underserved. Addressing Africa’s poor is impactful and a money maker, but it’s also time-consuming — something to consider if you want a quick return. Africans may be quick to try a mobile app or technology but end users are not always quick adopters. Here are five sub-Saharan markets with the most opportunities in fintech.
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