Kenn Abuya

For all fintech's talk about reinventing credit, the business seems to be circling back to a fairly old idea: lend to people whose incomes you understand and whose cash flows you can actually see.

Hours after Absa Bank Kenya announced the departure of chief executive Abdi Mohamed after a 32-year career at the lender, rival I&M Group named him as the next CEO of its Kenyan banking business.

Airtel Kenya has appointed Senegalese telecoms executive Djibril Tobe as managing director, a major leadership change as the country's second-largest mobile operator seeks to build on recent market share gains.

Kenyan education technology startup Craydel has expanded into Ghana, extending its footprint to eight African markets as it builds a business helping students apply for higher education abroad.

More than 120 founders, investors and operators gathered in Nairobi on July 2 as TechCabal brought its Road to Moonshot series to East Africa.

Safaricom will ask shareholders to approve a governance overhaul that would give the majority shareholder, Vodafone Kenya, the power to nominate CEO.

Administrators have begun marketing the assets of Koko Networks, the clean cooking startup that served more than one million Kenyan households, in the first major step toward winding down the company after its collapse in January.

Klump, a Nigerian buy now, pay later (BNPL) startup, has partnered with Jumia to bring instalment payments to one of Africa's largest e-commerce marketplaces, expanding its strategy of embedding consumer credit directly into online checkouts.

For many startups, the most valuable asset is not their technology but the legal and regulatory framework that enables their business model to operate. Once that framework falls away, the commercial value of the underlying technology may decline sharply.

Mercy Wairimu Kariuki woke up on the morning of February 8, 2022, to a stream of alerts showing that KES 4.4 million ($34,000) had been withdrawn from her Diamond Trust Bank (DTB) account overnight, two days after fraudsters hijacked her phone line in a SIM swap she had already reported and believed had been resolved.