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  • Boost for customer-facing staff as pesapal introduces a digital tipping solution

    Pesapal client service officer Erick Isigi shows a merchant how to use the new tipping feature on the Sabi POS Machine. The new feature enables customers to add tips to their bills when transacting.

     

     

     

     

     

     

     

     

     

    Pesapal, a leader in building payments and business tools for Africa, has released a new feature that allows customers to add a tip directly on its POS devices.

    This new feature will be available on all Pesapal Sabi POS terminals and aims to make tipping easier and more convenient as cashless transactions continue to grow across East Africa.

    “As transactions go cashless, we are adapting our POS machines to accommodate digital tipping. With this new feature, we are providing a convenient way for customers to show their appreciation for good service,” Pesapal Technical Director Fred Mwangima said.

     

     

     

     

     

     

    According to the McKinsey Global Payment Map, Africa’s domestic e-payments market is expected to see revenues grow by approximately 20 percent per year, reaching around $40 billion by 2025. With this new feature, customers can now effortlessly include a tip to their total bill amount right on the POS machine, eliminating the hustle of searching for cash tips.

    “We are responding to the current dynamics of the payment landscape that has seen a surge in digital payments. Tipping is a great incentive for attendants to provide great service, but it has become more difficult in the post-COVID era as most consumers migrate toward cashless transactions,” Pesapal Group CEO Agosta Liko said.

    The introduction of this new feature makes the checkout process simple for both the merchant and their customers. When the customer is ready to pay, the POS will display the total amount due, along with options for adding a tip. Customers can choose from preset tip percentages or enter a custom amount. The tip amount is then added to the total bill, and the transaction is complete. The tip will then be directly transferred to their mobile wallet.

    In recent years, merchants across multiple industries, including hospitality, retail, service, entertainment, healthcare, and fuel stations, have embraced digital technology. Advances in payment acceptance have led to transformative results, and the digital tipping experience will be an extension of that push to digitize these industries.

    Merchants who already have the terminal can easily activate the feature through a simple software update.

  • 24-Year-Old Lady Wins Inaugural SportPesa Mega Jackpot Bonus of 2024

    24-year-old lady takes home first SportPesa Mega Jackpot Bonus win of 2024

    In a spectacular turn of events, 24-year-old Christine Adhiambo Muganda emerged triumphant as the inaugural winner of the SportPesa Mega Jackpot Bonus for the year 2024.

    A dedicated Health Records student at the Kenya Medical Training College in Oyugis, Muganda showcased her sports prowess by accurately predicting the outcomes of an impressive 15 out of 17 matches.

    Hailing from Oyugis in Homabay County, Muganda received the thrilling news via a mobile text message at precisely 10:00 p.m. on a Sunday. The serendipitous moment was a stark contrast to her humble beginnings, as she recalled placing her bet the morning before while en route to church. Her ritual of combining sports enthusiasm with a heartfelt prayer for good fortune paid off spectacularly.

    “It was then that I remembered placing my bet the previous morning while on the way to church, even as I prayed to God for good tidings. Only after receiving a call from SportPesa confirming the same on Monday did I accept that indeed I had won,” recounted the soft-spoken Muganda, who has been an avid participant on the SportPesa platform for the past two years.

    This significant win, totaling an impressive 2,335,528 shillings, not only serves as a financial windfall for Muganda but also stands as a testament to her strategic acumen in the realm of sports betting. Her consistent dedication to the SportPesa platform over the past two years has now culminated in a well-deserved victory, showcasing the exhilarating blend of skill, intuition, and unpredictability that defines the world of sports predictions. Muganda’s success adds a new chapter to the narrative of sports enthusiasts who find fortune through both strategy and chance in the captivating realm of sports betting.

    Meanwhile, the SportPesa headquarters played host to the triumphant return of Vincent Onyala and Anthony Omondi, co-captains of the revered Kenya 7s Rugby team, Shujaa. The dynamic duo, fresh from their victorious campaign in Dubai, where they clinched the first leg of the World Rugby HSBC 7s Challenger Series by defeating Chile 12-5 in the finals, presented their trophy to SportPesa CEO Hon. Capt. Ronald Karauri during a courtesy visit.

    “This was an awesome experience for the team; we knew where and how we wanted to start our campaign back to the top to make it into the top 4, and by the end of the tournament, we were the team to beat, which was indeed the icing on the cake”, expressed Anthony Omondi of the SportPesa-sponsored
    squad.

    Looking ahead, the co-captains acknowledged the formidable task that lies ahead for Shujaa in the remaining legs of the World Challenger Series. With two more legs to navigate, the team remains focused on the challenges and prospects of reclaiming their position in the World Rugby 7s Series. The upcoming legs in the World Challenger Series are scheduled for Montevideo, Uruguay, from 8th to 10th March, and Munich, Germany, from 18th to 19th May. The SportPesa-sponsored squad remains resolute in their pursuit of excellence on the global rugby stage.

    “This was a sweet win, but we can’t bask in the victory for too long because we know it is going to get tougher, so we have to recover fast, moving into the next tournament. Thanks to SportPesa, we can now take on the incredible task ahead of us to get out of relegation and back to the World Series,” explained Onyala.

    Noting that the boys gave a good account of themselves in Dubai, Onyala added that preparation for the next leg will include a lot of team bonding and cohesion exercises while closely monitoring the other top three sides, namely, Uruguay, Japan, and Chile.

    #ShindaMoreNaSportPesa

  • The Kenyan Education Fund (KEF) enlists support of 161 new scholars to break poverty cycle

    Kenya Education Fund (KEF) county director, Mr Francis Nganga

     

     

     

     

     

     

     

     

    By Steve Sabai,

    In a significant stride towards the barriers that keep millions of Kenyan children out of high school, the Kenyan Education Fund (KEF) is delighted to announce the enrollment of 161 new students into its life-changing scholarship program.

    For the past 19 years, KEF has been unwavering in its commitment to providing access to quality education for financially underprivileged youth, addressing the root causes of poverty, gender-based violence, and injustice. With 600 active students, the organization is taking a giant leap this January by extending full high school scholarships to a new cohort, covering four years of high school and one year of college, bringing the total of active students to 761.

    Speaking at the well-organized event, the county director (KEF), Mr.Francis Ng’ang’a, lauded the beneficiaries for their effort and promised to work closely and ensure the needy students achieve a full education. He was optimistic that the support could be extended to more needy students once the organization gets more funds.

    Each of the 161 students will receive comprehensive support to ensure their academic success and holistic development. The scholarship package includes school tuition, room and board, uniforms and shoes, textbooks, a scientific calculator, sanitary pads, exam fees, and participation in KEF workshops.

    This scholarship goes beyond mere financial assistance; it is a beacon of hope for those who may otherwise be unable to pursue their education due to poverty, drought, lack of accessibility, or cultural practices. KEF successfully transitions 99% of its students from high school to university, actively breaking the cycle of poverty and fostering self-reliance.

     

     

     

     

     

     

     

     

    B”Education is not just a ticket to a better life for these students; it is a catalyst for positive change within their communities.” Monsheila, a representative of KEF.

    Over the years, KEF has empowered over 4,000 students, most of whom are now self-reliant contributors to their communities. The organization’s impact resonates in the success stories of individuals who have overcome adversity, turning dreams into reality through education.

    As KEF continues to champion the cause of education for all, regardless of religion, race, ethnicity, or gender, the organization invites fellow Kenyans to join the work by supporting underprivileged children around them. Together, we can create a more inclusive and empowered society through the gift of education.

  • A call for national unity for the stability of the democratic republic of Congo

     

     

     

     

     

     

    By James Nyaigoti,

    In a historic move to unify the Democratic Republic of Congo and address the recurring conflicts that have plagued the country for over 30 years, eight politico-military movements, 15 political groups, over 267 prominent political personalities, 34 citizen movement organizations, and 41 civil society groups have announced the formation of Alliance Fleuve Congo (Alliance River Congo).

    Alliance Fleuve Congo will focus on resolving the root causes of the recurring conflicts to ensure lasting peace in the Democratic Republic of Congo and responsibility towards its citizens.

    The team identified unethical practices such as corruption and embezzlement of public funds.

    Tribalism, dispossession of public and private property, discrimination, lies, witchhunts, the exploitation of public services and institutions, tribalization and manipulation of justice, arbitrary arrests, assassinations, economic crimes, linguistic discrimination and exclusion, division, and impoverishment of the population—all of which have blossomed in the Mr. Félix Antoine Tshisekedi Tshilombo regime.

    Speaking during the announcement of Alliance Fleuve Congo in Nairobi, Kenya, Corneille Nangaa, one of the leaders, said that the government of the DRC deliberately violates the Constitution, the laws of the Republic, and all international treaties acceded by the country.

     

     

     

     

     

    “We have decided to work together to establish a structured force for the rebuilding of the state and to resolve the root causes of recurring conflicts to ensure lasting peace in the Democratic Republic of Congo,” Corneille Nangaa said.

    Alliance Fleuve Congo’s founding statement outlined a stark assessment of the current situation as the country heads to the general elections, set for December 20.

    The statement emphasized that the outcome of the elections seems predetermined, with the current regime establishing machinery to carry out an electoral coup d’etat by hijacking the electoral process at all levels.

    Some of the shortcomings of the government that were identified include widespread security and instability, especially in the Eastern DRC, erosion of state institutions, and disenfranchisement.

    “Given that the Kinshasa regime has deliberately chosen to outsource national security by using war as a business, undermining the Armed Forces of the Democratic Republic of Congo (FARDC) for the benefit of foreign mercenaries and other negative forces that prey upon the Eastern part of the country, sowing death and desolation, we are calling on all patriots to join us to save our country and to establish cohesive governance in unity and peace, the rebuilding of a state that rises to its sovereign
    responsibilities based on the law and which assures the safety of all.” Mr. Nangaa said.

    In response to these challenges, Alliance Fleuve Congo proposes collaboration between political parties, civil society groups, resistance forces, the Armed Forces of the DRC, and community leaders to form a powerful and cohesive bloc.

    The following entities have accepted the call so far: political-military movements;
    a) Ituri
    1. FRPI
    2. Chini ya Kilima;
    3. Zaire
    b) South Kivu
    1. The FPDC
    2. The Twiraneho
    3. Movement Article 64.
    c) North Kivu
    1. Kyahanda and different groups MaiMai
    2. M23
    Policy groups
    a) Political groups: 15 political parties have come forward. (We are careful not to
    mention them for security reasons.)
    b) Political actors: 267 personalities.
    Civil society groups
    a) Citizen organizations: 23 Citizen movement,

    b) Civil Society Groups: 41.

     

     

     

  • WAMA International Opens The Third ALDO Store in East Africa At The Hub Karen Mall

    Founded in 1972, ALDO delivers fashion to a diverse customer base at prices that make keeping up with seasonal styles a luxury within reach. Every shoe

    and accessory selection plays a role, and the newly opened store has an up-to-date collection that is currently in season worldwide.

    ALDO shoes Pillow Walk technology aims to elevate our customer experience by effortlessly fusing style and comfort. Crafted with molded sock foam, it offers targeted padding at the heel and ball of the foot, ensuring day-long comfort.

    The dual-density foam effortlessly absorbs impact, providing a luxurious, comfortable feel right from the start.

    WAMA International has the exclusive license to establish, own, and operate ALDO stores in Kenya. The company is committed to providing a unique shopping experience to its customers in Kenya by bringing world-renowned brands like ALDO to Kenya, having successfully introduced various international brands to Libya, Rwanda, and Uganda.

    Customers can enjoy up to a 50% discount during the grand opening. The offer runs for the rest of the opening week. ALDO promises an exciting shopping experience that has made it a household name in fashion footwear and accessories.

  • A Mega X-Mas for SportPesa Jackpot Bonus Winner

    With less than three weeks to go until the end of the year, just one prediction stood
    between 41-year-old John Matata, and the hundreds of millions of shillings in prize money at stake in the SportPesa Mega Jackpot.

    Matata who lives in Nairobi but hails from Machakos got 16/17 predictions correct, taking home 10,315,693 shillings and setting himself and his family up for a mega Christmas holiday.

    “I am extremely delighted for winning this week’s Mega Jackpot Bonus by SportPesa. I will take my time to plan and ensure that this money helps and changes our lives as a family for the better”, said the father of two.

    Matata’s win continues the lucky streak, that has since seen 10 winners walk away with more than ten million shillings this year from the Mid-week and Mega Jackpot Bonus. It comes a week after Mr. Solomon Mnang’at, a businessman from Kapenguria in West Pokot County walked away with 4,791,803 shillings after getting 15/17 correct predictions.

    Matata who has been betting with SportPesa since 2016, urged for caution from punters while placing bets.

    He noted that many young people will be at home this holiday season and may be lured into irresponsible gambling in the hope of making a kill of the Mega Jackpot that currently stands at over 340 million shillings.

    In addition to the Midweek and Mega Jackpot Bonuses, SportPesa has so far rewarded 60 players in the ongoing ‘Jishikie Kienyeji Hii Krisi’ Christmas campaign with 42 lucky winners receiving 5,000 shillings weekly.

    At the close of the campaign, one lucky winner who holds an inspiring and moving story of what their year has been will walk away with a Christmas shopping bonanza worth Kes 100,000, courtesy of SportPesa.

  • Bring Your Creative Ideas to Life With The Galaxy Tab S9

    Bring Your Creative Ideas to Life With The Galaxy Tab S9

    Creativity is the human art of imagining new ideas for personal expression, problem-solving and innovation. Once a creative idea is created in the mind it usually seeks out a canvas or plain where it can be brought into the world. At the Galaxy Unpacked event held in July this year, Samsung unveiled the Galaxy Tab S9 series which includes the Galaxy Tab S9 Ultra, Tab S9 Plus and Tab S9 base, the tech giant’s flagship tools for going from creative ideation to creation.

    The immersive displays of the Galaxy Tab S9 series are the ideal backdrop for any project. With Multi Window, up to three apps can display as an organized grid of easily adjustable windows. Do research in a browser, reference an image from Samsung Gallery and sketch out ideas in Samsung Notes, all simultaneously in one view. Or with Pop-Up View, apps can be viewed as floating windows while still showing the full home screen.

    When travelling or working on the go, Galaxy Tab S9 series’ Book Cover Keyboard and DeX Mode can simulate a desktop experience with maximum tablet portability. The Book Cover Keyboard’s adjustable angles and backlit keypad feel like a lightweight PC. Meanwhile, DeX Mode has an easy-to-follow cursor, flexible window resizing and positioning, and Second Screen capabilities to mirror or extend the PC screen to tablet. In a Google Meet call, collaborate more easily by sharing the screen and co-editing a live Samsung Notes document at the same time.

    For every stroke of genius that comes to mind the Galaxy S Pen. Offering a pen-on-paper-like experience, Galaxy Tab S9 series and S Pen are now both IP68 rated for water and dust resistance, opening up more possibilities for where users can capture and express their ideas. The S Pen can also write in search bars, browsers and app stores, and new bidirectional charging ensures it gets power no matter which way it faces when in its cradle. Users can upgrade to the S Pen Creator Editing for an even more premium experience. The S Pen Creator Edition is designed with textured material for a comfortable grip and a wider tilt angle that makes creating more intuitive. Two types of pen-tips are also available, a hard type for natural drawing experiences and a soft type for paper-like writing experiences.

    Designed to inspire spontaneous productivity as well as enhance creativity, the Galaxy Tab S9 series is a powerhouse for creative portfolios with new and enhanced apps for every personal passion. Fan-favorite GoodNotes offers a new note-taking and journaling experience on Android for the first time, launching exclusively for Galaxy tablet users. Plus, notes created in GoodNotes on all platforms can easily be shared and co-edited simultaneously.

    The pro-level LumaFusion video editing app makes work easy when creating sharable content. Images and videos even large files taken on your Galaxy smartphone camera can be easily shared to Galaxy Tab S9 series with Quick Share. LumaFusion takes full advantage of Galaxy Tab S9 Ultra’s expansive screen to ensure editing videos is precise.

    Clip Studio Paint has been transformed into a streamlined tablet interface for drawing, painting and more. Meanwhile, ArcSite empowers designers and professionals by transforming their creative vision into meticulously crafted 2D CAD blueprints, comprehensive site plans, and accurate estimates. Through close collaboration with Google to optimize large screen experiences, users can benefit from partner apps to easily complete tasks and turn ideas into reality on the Galaxy Tab S9 series.

    The series comes in two colors, Beige and Graphite and three sizes: 14.6-inch on Tab S9 Ultra, 12.4-inch on Tab S9+, and 11-inch on Tab S9.

  • LG Spreads Holiday Cheer with Charitable Initiative: Buy a Home Appliance, and Support a Charity of your Choice

    LG Spreads Holiday Cheer with Charitable Initiative: Buy a Home Appliance, and Support a Charity of your Choice

    Leading electronics manufacturer LG has today announced the launch of a heartfelt initiative aimed at spreading the festive season spirit to those in need. In a move that reflects the company’s commitment to corporate social responsibility, LG has introduced a special campaign that encourages consumers who purchase LG Home Appliances to contribute to charitable causes.

    Under this unique initiative, customers will be requested to vote for a charity initiative of their choice upon the purchase of eligible LG home appliances. Voting will be done on the LG.Com website, via the Smile with LG platform, with each vote being equivalent to KES. 5,000. The donations will then be directly channeled to the corresponding cause. This initiative aligns with LG’s core values of making a positive impact in the communities it serves and underscores the company’s dedication to creating a better world.

    “LG believes in the power of giving back and making a difference in the lives of those less fortunate. We are excited to launch this campaign that allows our customers to share the joy of the festive season by contributing to charitable causes while enjoying the latest innovations in home appliances,” said LG Electronics EA Corporate Marketing Manager, Maureen Kemunto.

    The campaign covers a wide range of LG home appliances, including refrigerators, washing machines, dishwashers, microwaves and more. Customers who purchase eligible products during the campaign period will automatically be part of this charitable initiative, contributing to the selected causes with every purchase.

    LG Electronics has partnered with the Rotary Club of Nairobi Madaraka and the Rotaract Club of University of Nairobi (UoN) Afya for this campaign, ensuring that the funds raised will be directed toward impactful projects that address critical needs within the community.

    Rotary Club of Nairobi Madaraka President, Rotarian Joel Wandurwa, expressed enthusiasm about the campaign, stating, “We are thrilled to launch this initiative in collaboration with LG Electronics to extend goodwill and serve the less fortunate members of our community. This endeavor allows us to create lasting and sustainable impacts in the communities where these projects are being implemented.”

    The Rotary Club of Nairobi Madaraka is part of Rotary International which is one of the largest service organizations in the world. The Rotaract Club of UoN Afya is a community service organization for young adults aged 18 and over which was chartered in August 2019 as a sponsored ‘baby’ Club of the Rotary Club of Nairobi Madaraka. The club is mainly composed of students from the University of Nairobi, School of Medicine. The mission of Rotary is to “provide service to others, promote integrity, and advance world understanding, goodwill, and peace through the fellowship of business, professional, and community leaders”. It is a non-political and non-religious organization. There are over 46,000 member clubs worldwide, with a membership of 1.4 million individuals, known as Rotary members.

  • Premchandbhai Foundation Unites Partners, Stakeholders, and Beneficiaries for Networking and Opportunity Exploration

    Premchandbhai Foundation Unites Partners, Stakeholders, and Beneficiaries for Networking and Opportunity Exploration

    Premchandbhai Foundation brings together partners, key stakeholders, and beneficiaries to network, share ideas, and explore opportunities for collaboration and partnership to create strategic synergy in giving back to the communities

    The Premchandbhai Foundation was established in Kenya in 1959 by the families of Kachrabhai, Premchandbhai, and Juthalalbhai Vrajpal Shah. The Foundation’s main objectives are to endow services in the provision of education, medical services, the alleviation of poverty, and general community welfare. The Premchandbhai Foundation has supported many causes since its inception. All of the Foundation’s investments have directly or indirectly contributed to the realization of the 17 Sustainable Development Goals.

    Every year, the Trustees of the Foundation organize a networking event for partners, including but not limited to private and public foundations, non-governmental organizations working in Premchandbhai Foundation priority areas, impact investors, and the government, to explore how best to harness local corporate and family philanthropy. This year’s event has brought together over 50 partners drawn from diversified fields to engage, share ideas, network, and explore areas of collaboration and partnership to enhance the impact of local philanthropy.

    The Foundation has contributed towards the extension of the Lions Sight First Eye Hospital, Loresho, funded the construction of an Intensive Care Unit (ICU) at Mombasa Hospital, a High Dependency Unit (HDU) at the Bethany Kids Children’s Centre in Kijabe, and donated towards the construction of the KPJ Tower at the M. P. Shah Hospital and the KPJ Wing at Jalaram Medical Centre.

    In the field of education, the Foundation has given many students the blessing of sponsorships to attend local and overseas universities and has contributed to the improvement and construction of many schools, among them Joy Town Special Primary School, Thika, and Vidhu Ramji Academy, Muranga.

    The Premchandbhai Foundation has a long-standing commitment to support education and inclusion for learners in Kenyan schools, especially those with special needs.  The Foundation has committed to donating 1000 orbit readers—a digital assistive device—to empower learners with visual impairments in Kenya to reach their true potential.

    These devices will be distributed by the Kilimanjaro Blind Trust to increase access to quality education for visually impaired learners in Kenya.

    The Foundation has built water pans and dams in the arid areas of the country, supported selected individuals with medical problems in the community, and contributed towards children’s orphanages such as Wema Centre, Mombasa, Ebenezer Children’s Home, Kajiado, and others.

    Recently, since 2020, the Premchandbhai Foundation has mitigated the adverse effects of drought and the COVID-19 pandemic by donating food relief to over 300,000 households in over 25 counties.

    Additionally, the Foundation has pledged to donate over Kshs 150 million in the next 3 years (partnering with Project Maji) to install safe drinking water for various needy communities in Kenya who have no access to clean drinking water. We, the Trustees of the Premchandbhai Foundation, believe that community service can only be sustainable when like-minded organizations, companies, governments, and families work together to enhance impact. We have different strengths and capabilities that can be used to complement the work we do in our communities. Let us join hands to make a difference in our beloved country, Kenya.

    For more information:premchndbhaifoundation@gmail.com

  • European Investment Bank partners with Central Bank of Kenya to unlock Climate Finance

    European Investment Bank partners with Central Bank of Kenya to unlock Climate Finance

    The European Investment Bank and the Central Bank of Kenya today launched a new climate finance best practice initiative to strengthen engagement by Kenyan financial institutions to finance climate-related investment, enable commercial banks to mobilize climate finance essential to achieving a net zero economy and strengthening the climate resilience of the Kenyan financial systems.

    The two-year Kenyan technical assistance scheme is the first of its kind to be implemented in East Africa under the European Investment Bank’s Greening Financial Systems Programme, financed by the German government through the dedicated International Climate Initiative Fund (IKI Fund).

    The initiative will serve as a model for mobilising climate finance by tackling barriers that hold back engagement by commercial banks and will enable the Central Bank of Kenya to incorporate climate risk into the Kenyan regulatory framework. The scheme will also help to further increase the impact of climate related investment by developing the green taxonomy for the financial sector that supports scaling up green investment aligned with the goals of the 2015 Paris Climate Agreement.

    The Greening Financial Systems programme will help Kenyan banks and financial institutions to better embrace climate finance best practice across all activities, catalyse new funding for green projects, and better assess, monitor, and report on the climate related risks.

    The programme reflects the urgent need to mobilise climate finance outlined this past week at the COP 28 in Dubai and contributes to global efforts to limit global temperature increases and adapt to the impact of climate change.

    Commenting on the technical assistance agreement, EIB Vice President, Thomas Östros said that greater efforts are being made to understand the barriers holding back green financing in Kenya.

    “As highlighted by world leaders at COP 28, scaling up climate finance is essential to mobilise new investment to boost the green transition and help reduce the impact of climate change. Barriers remain that hold back the full engagement of banks in climate dedicated finance. It is hindered by the lack of long-term funding that matches the economic life of green investments, the higher perceived risk of climate investment and limited experience of how to originate and monitor climate finance. This new technical best practice partnership with the Central Bank of Kenya builds on the European Investment Bank’s long-standing partnership with Kenyan financial institutions to increase the impact of climate finance and unlock investment that better protects infrastructure and business from climate change,” said Vice President Östros.

    Governor of the Central Bank of Kenya, Dr. Kamau Thugge highlighted that, “The Central Bank of Kenya is committed to the greening of the Kenyan financial sector. Towards this end, CBK issued Guidance on Climate-Related Risk Management in October 2021, to commercial banks. The Guidance was intended to facilitate banks in incorporating climate-risk related considerations in their governance, strategy, risk management and disclosures frameworks. Considerable progress has been made by banks in implementing the Guidance, but more remains to be done.’’

    As outlined in the EIB’s Finance in Africa Report 2023, the increasing prevalence of climate risks on balance sheets has made climate an important part of the risk appraisal process for both new loans and existing portfolios.

    The latest EIB survey found that 59% of banks in Africa have a climate change strategy and a further 22% plan to introduce one. Banks across Africa are now stepping up their efforts to offer an expanded range of green finance products rather than just mitigating risk.

    Over the last decade, the European Investment Bank, which is the world’s largest international public bank and leading climate financier, has helped to strengthen climate finance technical skills of more than 40,000 African financial professionals. Additionally, it has provided more than EUR 534 million (Ksh 88 billion) over the last five years for private sector investment across Kenya in partnership with Kenyan businesses, banks, financial partners and microfinance institutions.