Business

Uber, Little, Taxify & MondoRide Drivers in Kenya set to strike on low wages

Uber, Little, Taxify & MondoRide Drivers in Kenya set to strike on low wages

Business, Technology
Drivers attached to online taxi service providers have said they will down their tools on Monday to protest reduction of their wages. The drivers allied to Uber, Taxify, Little Cab and Mondo Ride say the management decided to lower their rates without consulting them. They said the strike was prompted by the improper management of their service providers with their services not to be availed until further notice. In a phone interview with Digital Taxi Association of Kenya’s (DTAK) Chair Mr. David Muteru, he echoed the above stating, “We are differing on pricing, because the prices are just not fare. The service providers commission is still high but they keep lowering the fares to accommodate customers.” When asked about the impending strike, the chair stated that they will be pre
New Bitcoin Exchange launched in Kenya

New Bitcoin Exchange launched in Kenya

Business
Belfrics Global Pte Limited, a Malaysia based bitcoin technology provider has announced the launch of its bitcoin exchange in Kenya. With this launch, Belfrics is now available across three markets including India and its international-based exchange located in Singapore. Belfrics intends to capitalize on the growing demand for its services in Kenya, which is one of the top markets on the African continent. Belfrics Kenya will offer exchange services in addition to other digital services revolving around the Blockchain.The company also provides a POS system and payment gateway for merchants to accept bitcoins as payment, enhancing their scope of business. The rise of this digital cryptocurrency and the underlying technology, the Blockchain, has also brought with it many invest...
New opportunities for Kenyan entrepreneurs as E-commerce booms

New opportunities for Kenyan entrepreneurs as E-commerce booms

Business, Startups
Kenya’s electronic commerce market is primed for major growth in the next five years as mobile internet performance continues to improve, a proposed national addressing system comes into existence, and people become more comfortable with digital transactions. The first E-commerce ventures in East Africa used to focus on affluent costumers and the diaspora, with payment by credit cards, mostly in the travel and gifting industry, with startups such as TravelStart or MamaMikes, but the landscape is now narrowing  with mobile money and mpesa. Kenya’s enthusiastic adoption of person-to-person mobile payments creates a solid base for the growth of mobile and electronic commerce. According to the Communications Authority of Kenya, the e-commerce market in Kenya was worth around Ksh.4.3 b
Chinese e-commerce mogul Jack Ma : Africa’s challenging situation should be a source of innovation

Chinese e-commerce mogul Jack Ma : Africa’s challenging situation should be a source of innovation

Business
To many, he embodies the idea of success. Jack Ma, a Chinese billionaire, jetted into Nairobi Wednesday evening, started a packed two-day visit that peaked with a public appearance at the University of Nairobi and a speech to Kenyan youth tips on how to build successful business empires. Throughout his many public lectures that are available online, Jack Ma has emphasized a philosophy of personal change and humility, empowerment of women in public lives, and investing more in youth. Jack Ma said that Africa's poor infrastructure, social, economic and political situation should be a source of innovation for most entrepreneurs, just as lack of e-commerce in his home country inspired him to start one of the biggest online marketplaces. "If the Government does not have a solution to...
Chinese tycoon Jack Ma set for two-day Kenya visit next week

Chinese tycoon Jack Ma set for two-day Kenya visit next week

Business
The founder and executive chairman of Chinese e-commerce behemoth Alibaba, Jack Ma is set to visit Kenya in his capacity as UNCTAD special adviser on youth entrepreneurship. This will be his first trip to Africa. Jack Ma is the second richest person in China with a net worth of $28 billion according to Forbes. He is currently the executive chairman of Alibaba Group, a holding company that owns popular eCommerce websites like Alibaba.com, Taobao, TMall and popular mobile web browser UCWeb. UNCTAD Secretary, General Mukhisa Kituyi and Mr Ma will make presentations to 500 young business leaders at the University of Nairobi. In his 3 day trip to Africa running from July 19 – 21st, Jack Ma will also visit Rwanda where he is the keynote speaker at Youth Connect Summit, also organized by