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OPPO say that this expansion signifies their commitment to providing exceptional after-sales service to their Kenyan customers.

The opening of these two new brand stores will help OPPO customers with even greater access to the company’s comprehensive brand offerings following the recent launch of the OPPO A60 RRP* Ksh29,999 and Reno11F RRP* Ksh49,999.

“The opening of these new stores at the Waterfront Mall and Two Rivers Mall underscores our unwavering belief in the Kenyan market and our dedication to our customers. This expansion signifies a crucial step in our ongoing journey to provide you with even more convenient access to our services.’’ Said Fredrique Achieng, PR Manager OPPO Kenya.

Earlier this year, OPPO unveiled two additional brand stores – one at Shujaah Mall in Kilimani and another at BBS Mall in Eastleigh.

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Now consider an alternate scenario where these same bodaboda riders are the first responders who come to your rescue in the case of traffic accidents. Not just milling around the scene but offering first aid, doing CPR, bandaging wounds and even stopping bleeding as you wait for an ambulance!

Every year, some 280,000 serious injuries resulting from road accidents are recorded in Nairobi alone. Most of these result in deaths or permanent disabilities because help could not reach the victims in time.

MyDawa, the online pharmaceutical delivery service in Kenya, and the Kenya Red Cross Society are trying to change this and offer accident victims a better chance of survival.

They have teamed up to train MyDawa’s team of delivery riders on basic first aid which covers critical areas such as bleeding, fractures, CPR, burn treatment, spine injuries and preventing infections.

This will enable the bodaboda riders provide swift first aid assistance in the event of road accidents and other emergencies.

Zainab Mohammed, the Head of Medical Programs at the Kenya Red Cross Society, emphasises that the survival rate of accident victims hinges significantly on the speed at which they receive emergency care.

“Nairobi records over 280,000 serious injuries annually. Despite the critical need for rapid emergency response, the county has only around 400 ambulances, often resulting in wait times of over two hours for emergency medical technicians (EMTs) to reach the scene,” she says.

The “First Boda” initiative aims to bridge this gap by training boda boda riders, who are known for their ability to navigate traffic swiftly, in basic EMT skills. With over 200,000 delivery riders in Nairobi alone, these individuals are ideally positioned to provide immediate assistance at accident scenes.

“An ambulance will delay, so what we need is the support from these boda boda riders who are at the scene to start the initial care and increase chances of survival. It goes without saying, absolutely, this kind of training is going to save more lives,” adds Sammy Kamanu – an EMT & Training specialist with Kenya Redcross Society.

The trained riders will also help manage accident scenes to prevent victims from getting further injuries from poor handling by other well-meaning but untrained members of the public who attempt to help accident victims.

“Accidents on the road are a common occurrence, but often we find ourselves helpless, merely observing or bypassing the scene due to our lack of essential skills to provide help. This training is set to bring about a significant impact. As more riders become proficient in first aid, we can expect a rise in the number of lives saved that might otherwise have been lost,” says Evans Khabeko, a MyDawa delivery rider.

Bodaboda riders who complete the training offered by MyDawa and Kenya Red Cross Society are equipped with specially crafted first aid kits that fit neatly into their delivery containers, ensuring they are always prepared to provide essential care.

Beyond the two organizations currently piloting this, the “First Boda” initiative hopes to reach all boda boda rider groups and companies that operate large delivery fleets across the country to join in the training of their riders to enhance road safety across the country.

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The Impact of Generative AI on Retail

Generative AI is projected to have a $9.2 trillion impact on the retail sector by 2029. Retailers are recognizing the benefits of implementing this technology to streamline operations, increase productivity, and deliver more personalized experiences for shoppers and associates.

However, trust remains a significant issue. Only 13% of customers completely trust companies to use AI ethically, and 63% are concerned about bias in AI outputs.

Data plays a crucial role in the effective implementation of AI. However, nearly half of the 1,300 retailers surveyed are struggling to make their data accessible, and just 42% are connecting their various data silos. This lack of data integration can lead to ineffective or inaccurate AI outputs.

Despite understanding the importance of data, many retailers are still figuring out how to unify all of their data and build a single view of their customers to unlock more effective generative AI outputs.

Trust and Ethics in AI Adoption
Retailers are aware of the security and trust risks surrounding generative AI and are taking steps to address them. Half of the retailers surveyed say they have the ability to fully comply with data security standards and data privacy regulations.

Bias, when AI algorithms produce prejudiced results or responses, is cited as the top risk in using generative AI. In addition to bias, retailers see hallucinations (38%) and toxicity (35%) as significant risks.

The Future of Retail with AI
In today’s retail landscape, AI isn’t just changing the game; it’s reshaping the entire playbook. It’s transforming shopping from a transactional chore into a personalized and evolving adventure.

As the retail sector in Kenya continues to evolve, the adoption of AI technologies such as generative AI will play a crucial role in shaping the future of retail. Retailers who can effectively leverage these technologies while addressing the challenges of data management and ethical considerations will be well-positioned to succeed in this new era of retail.

The retail sector is undergoing a significant transformation, driven by the rapid adoption of artificial intelligence (AI). A recent report from Salesforce and the Retail AI Council reveals that global retailers are swiftly adopting generative AI to personalize and enhance both in-store and online shopping experiences

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Equity Group has been ranked as the second-strongest banking brand globally. With a brand strength index of 92.5 out of 100, it has moved up two places from its 2023 ranking.

KCB Group, making its top 10 debut in the 2024 ranking, was ranked 5th with a brand strength index of 91.5. This represents a 1.1 points improvement over last year’s score of 90.4.

Both banks also received the AAA+ elite brand strength rating, a clear indication of their strong brand presence. Equity and KCB were among four banks from Africa that made it to the top 10 positions in this year’s rankings.

Every year, leading brand valuation consultancy Brand Finance puts 5,000 of the biggest brands to the test. It publishes nearly 100 reports, ranking brands across all sectors and countries.

Equity was also ranked 10th among Africa’s most valuable banking brands, with a brand value of USD 450 million. This represents a rise of USD 22 million from last year’s brand value of USD 428 million.

Brand Finance defines brand value as the net economic benefit that a brand owner would achieve by licensing the brand in the open market. This is, however, different from the valuation of a company’s assets.

The world’s top 500 most valuable and strongest banking brands are included in the annual Brand Finance Banking 500 ranking.

On the global front, Indonesia’s BCA Bank was ranked as the world’s strongest banking brand with a score of 93.8, climbing by 0.9 points from last year’s ranking.

China’s ICBC was the most valuable banking brand with a brand value of USD 71,828 million. In Africa, South Africa’s Standard Bank Group was the most valuable banking brand with a brand value of USD 1,966 million.

Overall, the world’s top banking brands have registered a third year of growth. This is a testament to their ability to maintain customer trust in a highly competitive environment.

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Key Highlights:

• Profit After Tax: Stanbic Holdings Plc reported an impressive net profit of KES 12.2 billion. This substantial growth reflects the bank’s ability to navigate a tough operating environment marked by currency fluctuations, inflationary pressures, and geopolitical tensions.
• Dividend Payout:  Shareholders will be pleased to know that Stanbic Holdings Plc is distributing dividends equivalent to 50% of its earnings. This commitment to rewarding investors underscores the bank’s financial strength and long-term vision.

Factors Driving Growth

• Improved Net Interest Margins: The bank’s net interest income surged by 35% to KES 25.6 billion. This growth was driven by a healthy balance sheet expansion and increased margins on interest-earning assets.
  Strong Trading Revenue: Stanbic’s trading revenue played a significant role in its overall performance. The bank’s ability to capitalize on market opportunities contributed to its robust financial results.
• Focus on SMEs: Stanbic remains committed to supporting small and medium-sized enterprises (SMEs). By aligning with economic growth vectors, the bank aims to drive Kenya and South Sudan’s prosperity.
• CEO’s Perspective: Dr. Joshua Oigara, Chief Executive of Stanbic Bank Kenya and South Sudan, emphasized the bank’s resilience. Despite external challenges, the diligent execution of their strategic plan has yielded positive outcomes. Dr. Oigara expressed confidence in the bank’s new three-year strategy, which builds on the momentum from previous fiscal periods.

“Despite facing a challenging business environment marked by heightened currency and inflationary pressure, rising interest rates and geopolitical tensions, the Group delivered strong financial results. This demonstrates resilience in our business model underpinned by diligent execution of our strategy. We remain committed to our purpose of driving Kenya and South Sudan’s growth, more so as we transition to our new 3-year strategy.”

Dr. Oigara.

• Customer Franchise Growth: Customer deposits increased by 18% to KES 321 billion, demonstrating the bank’s strong customer base and trust.Loans and advances rose by 10% to KES 261 billion, reinforcing Stanbic’s commitment to supporting businesses and individuals.
• Non-Interest Income Boosted by Foreign Exchange Revenue: The bank’s non-interest income received a significant boost from foreign exchange activities. Increased volumes and better forex performance contributed to this positive trend.

Stanbic Holdings Plc’s financial results are a testament to its strategic focus, resilience, and dedication to driving growth. As the bank embarks on its new three-year strategy, investors and customers can look forward to continued success.

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Revised Offer

Canal+, already the largest shareholder in MultiChoice, has increased its bid to 125 rand per share. This revised valuation places the pending shares at approximately 33.7 billion rand (equivalent to $1.77 billion based on Reuters calculations). Notably, this new offer comes after MultiChoice rejected Canal+’s initial bid of 105 rand last month.

In response to its 35.01% shareholding in MultiChoice, Canal+ faces a mandatory offer requirement as stipulated by the Takeover Regulations Panel. Consequently, the company has committed to submitting a firm offer no later than April 8.

MultiChoice’s Perspective

MultiChoice, as Africa’s premier pay-TV provider, expressed reservations about the initial offer, deeming it significantly undervalued. However, both companies have now pledged to collaborate closely during this acquisition process. As part of this commitment, MultiChoice will provide customary exclusivity undertakings to Canal+.

Upon the formal submission of the mandatory offer, the Independent Board of MultiChoice will convene. Following an assessment by independent experts, the board will offer its opinion and recommendation regarding the acquisition.

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What Does This Mean for You?

1. Instant Withdrawals: Equity Bank now allows PayPal account holders to withdraw funds instantly. Whether you receive payments in Kenyan Shillings (KES) or US Dollars (USD), you can transfer the money directly from your registered PayPal account to your Equity Bank account.
2. No Daily Limits: Unlike before, there are no daily withdrawal limits. Whether you’re a freelancer, an e-commerce business owner, or an individual, you can access your funds whenever you need them.
3. Convenient Access: You can use the Equity Mobile App or Equity Online to seamlessly link your PayPal account to your bank account. Once connected, the updated PayPal button will appear on your dashboard, displaying your account balance.

Gerald Warui, Equity Bank Kenya’s Managing Director, shared his thoughts on this development: “The reduced settlement period will support businesses and individuals in managing their cash flows more effectively. Our enhanced withdrawal capacity is a major boost for local PayPal users and aligns with the rapid growth of cross-border trade.”

PayPal’s Perspective

Mark Mwongela, Director for the Middle East & Africa at PayPal, emphasized the significance of this collaboration: “Kenya’s thriving digital economy presents vast opportunities. Our partnership with Equity Bank ensures seamless and real-time access to PayPal funds for millions of Kenyans. Together, we’re committed to supporting local digital growth and facilitating cross-border payments.”

Equity Bank’s instant PayPal withdrawal service is definitely a game-changer for Kenyan users. Whether you’re a business owner, freelancer, or individual, managing your finances just got easier.

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This means creating solutions to tackle tech challenges such as e-waste and digital fatigue, enhancing your life one device at a time.

In essence, the company that has been crafting Nokia phones since 2016 is set to introduce new HMD original devices, continue the Nokia legacy, and collaborate with exciting partners in a multi-brand vision.

Sanmeet Singh Kochhar, Vice President, AMEA region at HMD Global, elaborates on their mission, “Our goal in the AMEA – Asia Pacific, Middle East, and Africa – region is to innovate, sustain, and collaborate to transform mobile technology. We aim to create a future where technology is not only universally accessible and environmentally responsible but also embodies the principles of repairability and durability.”

 Defying Market Trends with Transformation

Despite two consecutive years of market decline due to challenging economic conditions, HMD stands tall, thanks to its major transformation project.

The result? A significant improvement in operational profitability YoY in 20231. This success can be attributed to fresh, energetic leadership, strategic focus, agility, and cost-effectiveness.

Championing Repair-at-Home Devices

Addressing the critical issue of e-waste, HMD designs phones that are not just visually appealing but also eco-friendly and budget-friendly.

With award-winning repairable devices and long-lasting phones, HMD is pioneering the ‘FIY’ (Fix it Yourself) movement, making the repairability experience accessible to everyone.

Igniting Innovation for All

HMD is all about human innovation. This includes making typically expensive digital tools globally accessible and affordable.

This summer, they’re launching a smartphone that serves as a platform for innovation, aiming to make technology more accessible to communities worldwide.

To further this cause, they’re releasing the first version toolkit for developers and businesses, containing design files and software integration information.

This move embraces open innovation, enabling people and businesses to customize their phones to suit their needs.

Multi-Brand Vision: Expect the Unexpected

As Human Mobile Devices, HMD aims to redefine screen time, champion repairability, and establish meaningful partnerships as part of a multi-brand vision.

They will continue the Nokia legacy and even bring back an iconic phone this summer. But that’s not all – expect a lineup of exciting new brands coming your way this year.

Jean-Francois Baril, HMD Co-founder, chairman, and CEO shares, “In our seven-year journey, collaboration and support have allowed us to achieve so much.

And we plan to do much more as we introduce the world to the new HMD. We aim to be a catalyst for positive and profitable change by embracing a multi-brand strategy.”

Say Hello to Barbie!

In line with its core values, HMD is excited to announce a groundbreaking partnership with Mattel and Barbie. This collaboration emphasizes their joint commitment to disrupt the status quo, empower connections, and provide some respite from digital noise.

The Barbie Flip Phone is set to launch in summer 2024. With its blend of style, nostalgia, and a promise of digital detox, this retro feature phone is all set to flip the script on smartphone culture and become this summer’s hottest accessory.

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In this transaction, Standard Bank Group served as the joint lead manager and bookrunner for the Republic of Kenya’s new Eurobond.

Additionally, it acted as the joint dealer manager for the concurrent tender offer of $1.4 billion in outstanding Eurobonds, also set to mature in June 2024.

The Eurobond, which concluded on February 16th, was issued at a yield of 10.375% with a 9.75% coupon. It is slated to mature in 2031, with a six-year weighted average life. The principal will be amortized in equal installments during the final three years leading up to maturity.

The proceeds from the Eurobond were allocated to fund the tender offer for the 2024 Notes, which was settled on February 21st, 2024.

The Eurobond witnessed strong demand from investors, keen to back Kenya’s proactive debt management strategies.

This robust interest enabled the country to tighten pricing and increase the issuance size, compared to initial guidance. The tender offer saw remarkable success, with over 72% investor participation, leaving just over $550m in outstanding bonds.

Joshua Oigara, Chief Executive of Stanbic Bank in Kenya and South Sudan, expressed his pride in the bank’s role in facilitating the Eurobond for Kenya. He noted that the significant demand for the bond reflects growing investor confidence in Kenya.

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