Category: BUSINESS

Boston Consulting Group (BCG) has ranked Xiaomi 29th on its 50 Most Innovative Companies of 2023 list, two places higher than last year. The designation is recognition that Xiaomi makes innovation a priority, commits investment and talent to it, and works to transform investment into results. In this year’s first quarter, Xiaomi’s research and development (R&D) expenses increased by 17.7% compared to the year before, reaching RMB4.1 billion. As of March 31, 2023, the number of R&D personnel reached approximately 16,500, which was more than 50% of Xiaomi’s employees. Xiaomi’s R&D efforts have yielded the company more than 32,000 patents worldwide as of March 31, 2023. Total R&D investment for 2023 is expected to exceed RMB20 billion.

The company has embraced technological transformation, including Artificial Intelligence (AI). It officially established an AI Lab Foundation Model team in April and has more than 1,200 AI-related employees. The company will continue to expand AI-related user scenarios, maximize advances in technology, and explore opportunities with potential partners.

BCG’s Most Innovative Companies ranking is based on a survey of more than 1,000 global innovation executives who were polled in December 2022 and January 2023. The survey assesses a company’s performance in four categories: global mindshare, industry peer view, industry disruption, and value creation. BCG has published its annual innovation report since 2003. Other companies on the 2023 list include Amazon, Alphabet, Microsoft, Siemens, Pfizer, SpaceX, Nike, IBM, etc.

Xiaomi identifies 2023 as the crucial year for accelerating Xiaomi’s growth. The company will remain resolute in advancing its new business strategy with a focus on high-quality development anchored on its relentless pursuit of technological advancement and its mission to let everyone in the world enjoy a better life through innovative technology.

GTP, a specialised provider of prepaid and virtual card processing solutions, and InTouch, a leading pan-African fintech, have joined forces in a strategic partnership to democratise access to card credentials for millions of consumers across Africa. This collaboration aims to bridge the gap between digital payment platforms and card-based transactions, giving InTouch customers access to cross-border transactions through Visa credentials.

Access to card credentials plays a pivotal role in Africa’s financial ecosystem, opening doors to a wide range of economic opportunities and driving financial inclusion. Studies currently estimate that 90% of transactions conducted in Africa are still reliant on cash, highlighting the significant gap in digital financial inclusion across the continent. However, McKinsey argues that card-linked digital wallets are already a significant driver of growth in issuance and usage of cards. Prepaid cards are decoupled from the traditional banking infrastructure, allowing for banks and fintech companies to give more people access to a globally accepted payments method without a need for a traditional bank account.

By partnering with GTP, an MFS Africa company, InTouch aims to democratise access to card credentials for its African customers across its 13 markets. This collaboration will enable users of InTouch’s innovative digital platform which aggregates over 400 services through its API` to seamlessly link their digital wallets to card credentials, enhancing their access to the global digital economy. Through the integration of GTP’s robust prepaid and virtual card processing solutions, InTouch users will be able to tap into the advantages of card-based transactions, including wider acceptance, enhanced security, and seamless integration with global payment networks.

Omar Cissé, Founder of InTouch, expressed his excitement about the partnership, stating, “With this partnership, we are democratizing access to card payments and enabling international and online payments as well as cash in and cash-outs in our TouchPoint network in Senegal and Ivory Coast and very soon in 16 other African countries. Our goal is to offer the simplest and most accessible solutions for digital payments to millions of customers across the African continent.”

Christian Bwakira, CEO of GTP, stated, “InTouch is an innovative pan-African payments aggregator that has demonstrated consistent innovation in markets in which it operates. By working together, we will unlock the power of card credentials for millions of Africans across the continent and making borders matter less for them in the global digital economy.”

The partnership will commence in Senegal and Côte d’Ivoire and expand into the rest of the continent.

Samsung, a global leader in consumer electronics, has unveiled its latest groundbreaking innovation in home entertainment with the launch of the impressive 98-inch Neo QLED TV. This stunning display promises to transform the way consumers experience their favorite movies, sports events, and gaming sessions, bringing them closer to the action than ever before.

Featuring state-of-the-art technology and a breathtaking design, the 98-inch TV sets a new standard for immersive viewing experiences. With its expansive screen size, the 98-inch Neo QLED TV delivers an unparalleled level of realism, allowing viewers to feel fully immersed in the content they love. Whether it’s the latest blockbuster movie, a live sporting event, or a thrilling video game, users will be captivated by the lifelike visuals and vibrant colors brought to life on this impressive display.

According to market research firm Omdia, the global market size of 85-inch screens has grown exponentially from 180,000 units sold in 2019 to 1.87 million units sold in 2022. Likewise, for 98-inch screens, the global market has increased from less than 1,000 units sold in 2019 to about 160,000 units sold in 2022.

Speaking at the unveiling of the TV, Head of Consumer Electronics at Samsung Electronics East Africa, Sam Odhiambo, said that the Samsung 98-inch TV combines industry-leading picture quality with advanced features to create an unforgettable entertainment experience. “Equipped with cutting-edge resolution, viewers can enjoy incredibly sharp and detailed images that reveal even the smallest nuances in every frame. The TV also incorporates Quantum HDR technology, enhancing contrast and providing a wider range of colors for a more dynamic and lifelike picture,” he said.

Mr. Odhiambo added that in addition to its remarkable visual capabilities, the 98-inch TV comes packed with smart features that elevate convenience and accessibility.

“About ten years ago, a 60-inch TV was considered a large TV. But as time went by, 65-inch TVs became mainstream, and now 75-inch and 85-inch TVs have become popular, demonstrating consumers’ growing demand for larger TVs,” said Heejin Chae, TV Product Planning, Samsung Electronics. “In fact, our customer survey showed that 75% of consumers bought, on average, a TV 13 inches bigger than their previously purchased TV model.”

Furthermore, the Samsung 98-inch TV is designed to be a hub for all forms of entertainment. It supports an array of connectivity options, allowing users to effortlessly access their favorite content from various sources. Whether it’s streaming services, gaming consoles, or external devices, this TV offers a seamless and hassle-free entertainment ecosystem.

Samsung remains committed to user-centric innovation and sustainability. The 98-inch TV incorporates energy-efficient technologies, ensuring minimal power consumption without compromising performance. This dedication to eco-friendly design aligns with Samsung’s long-standing commitment to reducing its environmental footprint and creating a greener future.

·         The honours were executed in partnership with Africa Inland Church (AIC)

·         The celebration centred around honouring extraordinary mothers who have made significant contributions to their families and the community at large.

Leading edible oils manufacturer Pwani Oil has paid tribute to over 150 remarkable women for their outstanding contributions to the community and their transformative impact on people’s lives.

The event took place in a heartfelt event in Malili, Makueni County organized in collaboration with Africa Inland Church (AIC). At least 13 AIC churches participated in the celebration marked with prayers and religious renditions from scores of choirs and leading gospel artistes.

Aligned with the company’s mission to uplift and refine the communities it serves; the initiative was part of Pwani Oil’s Month of May Mother’s Day celebration.

Speaking at the event, The Makueni Deputy Governor Ms. Lucy Mulili thanked Pwani Oil and emphasized the essential role that mothers play in shaping societies. “Our mother’s selflessness, resilience, and unwavering dedication serve as the foundation of our thriving communities. Through their tireless efforts, our mothers create a nurturing environment where families thrive, and the community flourishes. I thank Pwani Oil for their gesture”, she said.

Pwani Oil Regional Sales Manager Pauline Mbinda said “As a company, we extend our heartfelt wishes to all the incredible mothers in Malili, Kenya and beyond. Kindly, consider this a tribute to your immeasurable impact and a recognition of your profound role in shaping communities and enriching lives”

The celebration centred around honouring extraordinary mothers who have made significant contributions to their families and the community at large. Each woman in attendance received a specially curated hamper as a token of gratitude and admiration for their exceptional deeds, symbolizing the company’s appreciation for their remarkable efforts.

Furthermore, the attendees were treated to exclusive discounts on Pwani Oil products, offering them an opportunity to explore and experience the extraordinary quality and value that Pwani Oil brings to their daily lives. All items on offer sold out, underlining the confidence the buyers have in Pwani Oil products. The event also showcased the company’s diverse range of high quality products, including the renowned Salit, Detrex, and Sawa, as well as the beloved Ushindi brand. Attendees had the privilege of firsthand experience with Pwani Oil’s outstanding offerings.

The company reaffirmed its commitment to refining the lives of the communities it serves and demonstrated its deep appreciation for the extraordinary women who play a vital role in shaping society and enriching lives.

KCB Group Plc Board has elected FCS Dr. Joseph Kinyua, EGH, as the new Chairman of the Group Board with effect from May 26, 2023.

Dr. Kinyua, the immediate former Head of Public Service and Secretary to the Cabinet was appointed to the Board of KCB Group in March 2023. He takes over as Group Chairman from Mr. Andrew Wambari Kairu following Andrew’s retirement having served as Group Chairman for a term of 5 years in line with the Board Charter.

Dr. Kinyua has enjoyed an illustrious career spanning over four decades in public service and has a wealth of experience in public administration, economic planning, and policy direction. He is credited with effectively holding a pivotal role in implementing key government initiatives and reforms, including the liberalization of the banking sector, the foreign exchange market and the trade and capital accounts of the balance of payments, among other initiatives.

Prior to his appointment as the Head of Public Services in 2013, he had served in various senior positions in the government, including as Permanent Secretary to the National Treasury.

The appointment of Dr. Kinyua heralds a new dawn for KCB Group’s Corporate Governance journey as he brings onboard deep financial services expertise and extensive public service management experience.

Dr. Kinyua thanked the Group Board for the appointment saying: “I am grateful for the confidence shown by the members in electing me to serve as Chairman and look forward to working together to propel KCB Group to even greater heights in the Eastern and Central African Region as the bank of choice in providing financial services to our people”

Mr. Wambari said: “It has been an honour to serve the KCB Group. I leave behind a strong, diverse, and competent board that will continue to drive the business to achieve and sustain its strategic objectives and a seamless transition to ensure continuity. I would like to thank all our shareholders, my fellow board colleagues, our employees, regulators, and all partners for the transformative collaboration we have had that has led to the various successes our Group has achieved over the last five years.”

“The election of Dr. Kinyua is a testament to KCB Group’s solid governance practices and adherence to the Board Charter.”

Leading firms in East Africa are set to be honored in a major International SMEs and Mid-sized institutions international award dubbed Pacesetters Awards which is organized by Jubilant Stewards of Africa. This year’s regional awards ceremony shall be held at Weston Hotel in Nairobi host the Kenya Awards ceremony on 30^th June 2023 at Weston Hotel in Nairobi after last year’s awards were held in Serena Hotel Kampala Uganda.  The awards bring together top organizations and entrepreneurs from 10 countries in the Eastern African region.  Pacesetters Award (PSA) is an annual Industry leadership Recognition program organized by Jubilant Stewards of Africa (JSA), a Non-Governmental Organization, to celebrate key industry leaders for their innovation, quality products, and service delivery, job creation, exemplary leadership, growing the economy, and transforming the society. These awards are based on the economic and social impact rather than the balance sheet. Jubilant Stewards of Africa is dedicated to the improvement of living standards, social ethics, dignity, and empowerment of communities. As part of its Corporate Social Investment (CSI), JSA empowers and supports firms and professionals in their quest to better the society and impact lives.

The winners in various categories are carefully selected through a competitive and thorough process involving a public vote and a panel of judges.

This year’s survey started on 2^nd April 2022 and closed on 30^th April 2023. Various institutions showed interest to partner with organizers to ensure the success of this year’s Awards in various countries. In the previous year some of the institutions that partnered with the Jubilant Stewards of Africa included Telecommunication giant Safaricom Plc, Regional Leasing firm Vehicle and Equipment Leasing Ltd (VAELL), United SMES Association of Kenya, Service Cops Ltd Uganda, Quipbank Trust Limited and Nation Media Group.

Jared Oundo, Executive Director of Jubilant Stewards of Africa, said that “Pacesetters Awards considers a range of quantitative and qualitative aspects in order to determine and honor the winners. A novel survey model was initiated in 2020 as per the hyperinflationary environment. The model has since been tested and it demonstrated its functionality, elasticity and robustness. Furthermore, models in various industries such as the financial sector were remodeled in order to enhance their significance to the current environment, enhance quality and increase the objectivity of results.”

A good number of the nominees in the 2023 have been conferred with other awards including the Top KPMG 100 Survey and other international awards. Notable firms that have featured in the Pacesetters Awards East Africa Kenyan Chapter include; Telecommunication giant Safaricom, Solar and Electric vehicle Dealer, Go Electric Ltd, Security Firm – Jeff Hamilton, drink manufacturer Kevian Kenya LTD Afia, Regional Leasing Giant Vehicle and Equipment Leasing Ltd (VAELL),  Service Cops Uganda, Uganda Chefs Union, Digital lender Zenka Digital Ltd, Tala, Ena Coach Bus, City Walk, Tinga rental platform, AVT Insurance Agency, online shopping platform Jiji Kenya, Mwananchi Credit, Clothing Line Amore Kenya, Property Developer Myspace Properties Ltd, EM Prime Land Ltd ,  Certified Homes Ltd and Digital Driving School.

Others include; Mattress maker SuperFoam, EVChaja, Staff Recruitment firm – Brighter Monday, Dakawou Transport Limited, Sarma Enterprises Ltd, Electrical vehicle charging stations network EvChaja, Village HopeCore International, and Nation Media Group Plc.

According to the sources privy to the 2023 East African chapter nominees list, the new entrants include; Westlands Laser Eye Hospital, Rentokil Initial Pest Control firm, Kifaru Properties, Ninia Honey, Digital Advertising firm Simpet Kenya, Sun King lanterns and home Systems Dealer, Madaraka Homes, Eden Bridge Capital Limited, Strathmore University Foundation, Mahiga Homes Fanaka Real Estate, Jambo Freight Limited from Tanzania, Spik and Span Limited Tanzania, Inter- Consult Ltd Tanzania, Brett and Baileys (T) Limited, Raphael Logistics Limited Tanzania among others.

The organizers said that they will be sharing the full shortlist after various nominees have been contacted and standardization is done in a press conference to be held in Nairobi.

According to Mr. Oundo, this year they intend to host the Awards in more African countries, starting with Kenya and then proceed to other countries such as Rwanda later in the year. Having hosted a successful Awards ceremony in Uganda last year. The ceremony shall include a gala dinner in which various high-profile guests and government officials are expected to be present. Jubilant Stewards of Africa shall announce and grant the winners their respective accolades. The guest of honour will be the honourable president of the republic of   Kenya William Ruto. There will be display booths at the event and the slots are limited.

CPA Boniface Aluoch, VAELL Leasing Uganda Country Manager said that they were truly grateful to be recognized as the pacesetters in the leasing industry and they wouldn’t have received the award if it was not for their esteemed customer’s support. They also mentioned that their staffs professionalism and dedication also contributed to them winning the award.

Speaking after receiving the news of being nominated as a Pacesetter in E-commerce, Grace Gikonyo, Head of Public Relations, Jiji Uganda said that the world is changing so is the life of many people and this has brought in the E-commerce way which is now the future of shopping. She said that being awarded for the second time is a huge recognition for them and went ahead and said that they have adapted to dedication, expertise and sheer hard hence improved the satisfaction for both sellers and buyers online.

Super Foam Limited’s Head of Marketing Sanskrati Shetty said they were glad to be recognized as the pacesetters in foam manufacturing and supplying. She went ahead and thanked her entire workforce for ensuring their efforts were recognized as a brand and as an organization. She concluded by thanking Jubilant Steward of Africa by recognizing them as key industry players.

Dr. Mary Boniface, CEO of Jubilant Stewards of Africa in charge of Kenya said that one of the major tasks of their organization is to make society better for everyone by encouraging companies to continue doing their best so that they can continue making the country a better place. She was pleased about last year’s turn up and said she was looking forward to a bigger and better event this year.

Commenting on the Pacesetters Awards East African Chapter, Ms. Dahir Aryan, Programs Executive at United SMES Association said, “We are pleased to partner with Pacesetters Awards organizers and we look forward to honor top entrepreneurs and institutions-, in the East African market for their efforts to better the economy and impacting lives. This will encourage organizations and individuals to go beyond the call of duty in their service to humanity.”