On October 17, 2022, Mr Kabui Mwangi, an author wrote an article in the Business Daily titled, “Why six Kenyan promising tech start-ups fell in quick succession”. Of the companies he reviewed, it is apparent that start-ups don’t just fail, there could be a great
The case of Flutterwave recently rocked the Kenyan fintech space. The Asset Recovery Agency levelled claims of fraud and money laundering against Flutterwave. In court documents, the Agency asserted that Flutterwave bank accounts received billions in a suspected scheme of money laundering and the same
According to a McKinsey report, the African financial market which includes both fintech and formal banking was valued at $150 billion as of 2020. The evolution of the market is projected to be centered on 11 important countries that provide a favorable environment for fintechs
The hearing of the presidential election petition this week have had the ICT systems used in the election process under the microscope and have proven that the systems are essential to achieving a credible electoral outcome. Nevertheless, the risks and unforeseen challenges these technologies carry
Outcome 1 – Presidential election upheld If the Supreme Court issues a ruling that declares the presidential election as valid, the President-elect will be sworn in on the first Tuesday, 7 days from when the court issues its ruling – September 13, 2022. Outcome 2
The financial industry has benefited greatly from the buzz surrounding the African tech boom, with reports of African fintech businesses raising money becoming commonplace in tech media. It accurately reflects how much venture capitalists and investors have attracted financing to the fintech sector. Fintech has
The Supreme Court has the original jurisdiction to hear and determine any petition challenging the election of a president. Article 140 of the Constitution of Kenya provides that any person may file a petition with the Supreme Court within seven days following the declaration of
Central Bank Digital Currency discussion: The pros, cons and reading between the lines The Central Bank of Kenya (CBK) recently released a discussion paper on a Central Bank Digital Currency (CBDC) intending to tease out a conversation around the possible introduction of a digital currency
Recent media revelations paint a shocking picture of vast amounts of unclaimed assets that lie idle despite Kenyans going through a tough economic season. According to the media reports, the amount of unclaimed assets currently stands at KSh 55 billion, with a paltry KSh 1
Introduction The Virtual Opening of The Africa Business forum was held on the margins of the 34th Ordinary Session of the African Union Assembly Of Heads Of State And Government on 8th February 2021 at 14.45 hrs to 16.00hrs East Africa Time. The Forum was
Hon. Godfrey Otsotsi is back with the Information Communication Technology Practitioners Bill 2020 which has triggered murmurs across Kenya’s technology community. The bill seeks to establish a legal framework for the training, registration, licensing, practice and standards of Information Communication Technology (ICT) professionals in Kenya.
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inABLE hosted the first-ever virtual Inclusive Africa Conference on the 8th and 9th of October, 2020. The two-day conference brought together global and local experts from different sectors to showcase inclusive design, mobile accessibility, and digital accessibility in primary and high school education, higher education, financial services, social media, employment and more.
The Ministry of ICT (MoICT) has released the draft Digital Economy Strategy which focuses on six pillars
The Communications Authority of Kenya (CA) has published a public notice asking all foreign Electronic Certification Providers are required to apply for recognition within 30 days. This follows the enactment and operationalization of the Business Laws (Amendment) Act 2020 early this year. The Act, which
On Tuesday 25th August 2020, the Kenya ICT Action Network (KICTANET) launched the 2020 ICT County Survey Report at a specially convened session of the Senate ICT Committee. The report assesses uptake and adoption of ICT at County Level as well as challenges and highlights
Kenya is currently one of Africa’s fastest growing ICT markets where ICTs have increased productivity, accelerated processes, increased human resource digital skills and contributed to improved standards of living for Kenyans.
Kenya’s Data Protection Act which came into effect on 25 November 2019, provides for the establishment the office of the Data Protection Commissioner to be headed by the Data Commissioner. The Public Service Commission had undertaken a shortlisting exercise and published names and interview schedules for the 10 shortlisted candidates on 7 July 2020. However, on the same morning, the Employment and Labour Relations Court, through an order issued by Judge Hellen Wasilwa and directed to the Commission to suspend the ongoing recruitment of the Data Commissioner pending the hearing and determination of a petition filed by lawyer Mr Adrian Kamotho.
After decades of using the English law of contract, Kenya is at the verge of having its own elaborate Law of Contract Act. The existing Act is arguably the shortest Act with 4 sections. Previous attempts to amend it have not been so successful, most notably the recent proposed amendment in the Law of Contract (Amendment) Bill, 2019 sponsored by Hon. Waititu Francis Munyua. The Bill seeks to amend the Act so that in case of a default by the principal borrower, the creditor would first realise the assets of the principal borrower before proceeding to realise the assets of the guarantor. President Uhuru Kenyatta however, sent back the proposed amendment to Parliament with his reservations and the Bill collapsed.