Uchaguzi Named Finalist in World Justice Challenge 2024 Uchaguzi, a project by Ushahidi, was recognized as a finalist in the World Justice Challenge 2024, hosted by the World Justice Project. This competition highlighted innovative initiatives aimed at reinforcing the rule of law and democracy, with Uchaguzi being selected from a competitive pool of 424 submissions from 109 countries. The World Justice Challenge 2024 focused on "The Rule of Law: Foundation of Democracy" and featured 30 finalists from 23 countries. These projects were evaluated based on their impact in four categories: electoral processes, justice institutions, free media and trustworthy information, and youth engagement. Each finalist had the opportunity to showcase their work during the American Bar Association Annual Meeting in Chicago, where the winners were announced. Uchaguzi was recognized for its significant contributions to promoting electoral integrity and citizen empowerment in Kenya. Ushahidi was founded in 2008 in Kenya, is a global non-profit technology company that has revolutionized crowdsourcing and citizen empowerment. Co-founded by Erik Hersman, Ory Okolloh, Juliana Rotich, and David Kobia, the organization's name means "testimony" in Swahili, reflecting its initial purpose of mapping post-election violence reports in Kenya. Ushahidi's flagship product, the Ushahidi platform, enables users to submit reports via mobile phones or the internet, creating crowdsourced maps for crisis response, human rights reporting, and election monitoring worldwide. Other notable finalists included initiatives from various regions, such as the "Protect Democracy-2022 Brazilian Elections" coalition in Latin America and the "Free Courts Foundation" in Poland, which focused on defending judicial independence. #Technology #Democracy #Ushahidi
Fintech Association Of Kenya
Financial Services
Nairobi, Nairobi 71,612 followers
The Voice of Fintech in Kenya!
About us
The Fintech Association of Kenya (FINTAK) is your gateway to the forefront of Kenya's financial revolution. We are the driving force behind innovation, collaboration, and advocacy within the country's vibrant Fintech sector. Our mission is to empower businesses, individuals, and policymakers, transforming Kenya into a global leader in accessible, secure, and cutting-edge financial technology. Our Vision: Transform Kenya into a world leader in fintech innovation. We believe in the transformative power of Technology. Our vision is a Kenya where: • Consumers have unprecedented financial control and knowledge. • Businesses of all sizes thrive through seamless digital solutions. • Financial inclusion expands, leaving no one behind. • A supportive regulatory environment fuels responsible innovation. What We Do: Your Partner in Progress FINTAK is your go-to resource for fueling Fintech success in Kenya. We offer: Advocacy: 📢 Shaping policies and regulations that support the responsible growth of fintech. Collaboration: 🤝 Building a vibrant community for networking, partnerships, and knowledge transfer. Expertise: 💼 Consultancy, training, and insights to help you navigate the ever-evolving landscape. Awareness: 🌟 Promoting financial literacy and fostering wider adoption of fintech solutions.s. Join the Movement Whether you're a fintech startup, an established financial player, or an individual eager to learn more, FINTAK is where the action is. Become a member today and help us drive Kenya's fintech future together!
- Website
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https://fintechassociation.africa/
External link for Fintech Association Of Kenya
- Industry
- Financial Services
- Company size
- 2-10 employees
- Headquarters
- Nairobi, Nairobi
- Type
- Nonprofit
- Founded
- 2020
- Specialties
- Fintech, Payments, Blockchain, Banking, Lending, Insurance, Crowdfunding, Consultancy, Research, Real Estate, Investment, Wealth Management, Accounting and Credit Assessment, and Security and Investor protection
Locations
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Primary
Ngara shopping complex
Ngara
Nairobi, Nairobi 00200, KE
Employees at Fintech Association Of Kenya
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George Abwajo
Strategic and Private Sector Partnerships : PFM: Public Policy : International Business Development
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Duncun Motanya
Chairperson - Fintech Association Of Kenya
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Andrew Barden
Wall Street Africa Group | The Kenyan Wall Street | Fintech Association of Kenya
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Harry Rodgers
Attended St. Paul's University
Updates
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𝗭𝗼𝗻𝗲 𝗮𝗻𝗱 𝗡𝗜𝗕𝗦𝗦 𝗣𝗮𝗿𝘁𝗻𝗲𝗿 𝘁𝗼 𝗘𝗻𝗵𝗮𝗻𝗰𝗲 𝗣𝗢𝗦 𝗣𝗮𝘆𝗺𝗲𝗻𝘁𝘀 𝘄𝗶𝘁𝗵 𝗕𝗹𝗼𝗰𝗸𝗰𝗵𝗮𝗶𝗻 𝗧𝗲𝗰𝗵𝗻𝗼𝗹𝗼𝗴𝘆 Zone, a blockchain payment infrastructure provider, has formed a strategic partnership with the Nigeria Inter-Bank Settlement System to integrate Payment Terminal Service Aggregator functions into Zone's blockchain network. This collaboration aims to improve interoperability across the Point of Sale payment value chain in Nigeria. The partnership will enable NIBSS, Nigeria's central switch, to become part of Zone's blockchain payment network. This development follows Zone's recent launch of a blockchain-powered POS payment gateway, positioning the company as a POS payment switch. Key Features and Benefits: Decentralized Transaction Routing: Unlike traditional systems, institutions on Zone's blockchain network can route transactions directly between each other, eliminating intermediaries. PTSA Functions: The partnership allows Zone to perform PTSA functions, including verifying the technical and operational standardization of POS machines. This aligns with the Central Bank of Nigeria's mandate requiring all licensed financial service providers to route POS transactions through a PTSA. Automated Chargeback Resolution: Zone's blockchain network enables automated resolution of chargebacks, processing refunds for declined transactions within minutes. This feature also provides real-time validation of final transaction status. Enhanced User Experience: The new system is expected to improve the overall cardholder experience by increasing transaction reliability, speed, and efficiency. Zone's decentralized blockchain-powered POS payment gateway stands out in a market where competitors like Interswitch, Unified Payments, and eTranzact use centralized architectures. Premier Oiwoh, Managing Director and CEO of NIBSS, emphasized the partnership's potential to transform the payment landscape. Obi Emetarom, CEO and co-founder of Zone, stated that the collaboration sets a new standard for reliable, frictionless, and universally interoperable payments in the industry. #blockchain #fintech #payments #Nigeria #financialinclusion #Africa
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KCB Group Strengthens Commitment to Sustainable Finance with Green Loan Expansion. KCB Bank Group has enhanced its commitment to sustainable finance, as outlined in its ESG report, with 15% of its loan portfolio now dedicated to green loans. These loans support projects with environmental benefits, such as renewable energy and energy efficiency, aligning with international standards and contributing to environmental goals. The bank's efforts extend beyond green lending. KCB has implemented responsible lending practices, screening Ksh 615 billion in loans under Environmental and Social Due Diligence. Additionally, KCB has engaged in environmental initiatives, planting 314,129 trees across 1,423 schools and achieving an 11.14% reduction in carbon footprint intensity per staff member. The bank has also invested in water and sanitation projects, benefiting over 251,000 individuals with access to clean water. Socially, the KCB 2jiajiri Programme has created 13,352 direct jobs, and the bank has provided support through scholarships and insurance. The National Bank of Kenya, a subsidiary, has financed projects worth Ksh 5.7 billion and implemented resource-saving measures. #Banking #KCB #Sustainability #ESG #Kenya #Africa #Greenloans
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𝗨𝗯𝗲𝗿 𝗜𝗻𝗰𝗿𝗲𝗮𝘀𝗲𝘀 𝗙𝗮𝗿𝗲𝘀 𝗶𝗻 𝗥𝗲𝘀𝗽𝗼𝗻𝘀𝗲 𝘁𝗼 𝗗𝗿𝗶𝘃𝗲𝗿 𝗗𝗲𝗺𝗮𝗻𝗱𝘀. Uber increased its fare charges in Kenya following protests by drivers who demanded better earnings amid rising operational costs. These protests were sparked by drivers' frustrations over a previous fare cut that left them feeling exploited, as they continued to remit a 25% commission to Uber despite reduced earnings. The fare hike is intended to help drivers cope with inflation, high fuel prices, and heavy traffic jams that have eroded their earnings. In response to these challenges, Uber has raised the per-kilometer charge in Nairobi and Mombasa, along with adjustments to the base and minimum fares. The company aims to ensure that both riders and drivers benefit from the platform, maintaining transparency and certainty around pricing. This adjustment is part of Uber's strategy to balance driver needs with customer expectations, ensuring the platform remains viable and competitive in the Kenyan market Uber also introduced a feature called Uber ChapChap Priority, which allows passengers to pay an additional fee during high-demand periods to increase the likelihood and speed of matching with a driver. This feature is intended to help drivers maximize their earnings while providing faster service to customers willing to pay extra. These drivers have sometimes resorted to setting their own fares, leading to negotiations with ride-hailing companies like Uber, Bolt, and others. The Ministry of Transport and the National Transport and Safety Authority are expected to mediate ongoing negotiations between drivers and ride-hailing platforms to address these issues #Uber #FareIncrease #Kenya #RideHailing #DriverEarnings
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𝗙𝗹𝘂𝘁𝘁𝗲𝗿𝘄𝗮𝘃𝗲 𝗘𝘅𝗽𝗮𝗻𝗱𝘀 𝗣𝗮𝘆𝗺𝗲𝗻𝘁 𝗢𝗽𝘁𝗶𝗼𝗻𝘀 𝘄𝗶𝘁𝗵 𝗔𝗺𝗲𝗿𝗶𝗰𝗮𝗻 𝗘𝘅𝗽𝗿𝗲𝘀𝘀 𝗶𝗻 𝗡𝗶𝗴𝗲𝗿𝗶𝗮 Flutterwave, a leading payments technology company in Africa, has announced that its online merchants in Nigeria can now accept American Express payments. This development allows American Express Card Members, whether they hold consumer, business, or corporate cards, to make direct payments to e-commerce businesses using Flutterwave in Nigeria. The service is set to expand to other countries, including Tanzania, Rwanda, Ghana, and Uganda, in the near future. This collaboration offers advantages for both merchants and consumers. Flutterwave merchants can now tap into a new customer base of American Express Card Members, enhancing their business opportunities across Africa and globally. Briana Wilsey, Vice President and General Manager of Global Network Services EMEA at American Express, noted that this agreement with Flutterwave expands payment choices for businesses and consumers in Africa. "Through the agreement with Flutterwave, a trusted payment provider, we are giving e-commerce merchants in Nigeria the opportunity to reach American Express Card Members around the world. The collaboration is a win-win because it also increases the number of places where our Card Members can use their Cards in Nigeria.” For consumers, the partnership provides greater flexibility and choice in payment methods, reinforcing the American Express global network and expanding the locations in Africa where American Express Cards can be used. Olugbenga Agboola, Founder and CEO of Flutterwave, emphasized the company's mission to connect the world to Africa through innovative payment solutions. "This is one of our initiatives to ensure that more people across the world can pay using Flutterwave in Africa. We understand the value of providing shoppers with payment methods that work for them, as well as helping businesses to expand their customer bases, " he added. #Flutterwave #AmericanExpress #Ecommerce #Nigeria #Payments #Africa Image Credits: Flutterwave
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Bolt and HAKKI AFRICA LIMITED Partner to Boost Vehicle Ownership for Kenyan Drivers This collaboration aims to facilitate the deployment of 1,500 vehicles over the next 18 months. The initiative is designed to make vehicle ownership more accessible for drivers by offering reduced loan down payments and performance-based incentives. Hakki Africa's credit scoring system is a key component of this partnership, helping drivers who traditionally face challenges in accessing financial services. This system enables drivers to secure loans more easily, thus promoting financial inclusion within the ride-hailing industry. The partnership provides an opportunity for drivers to own vehicles after a repayment period of approximately three and a half years, potentially increasing their net income and opening up new business opportunities once the loan is paid off. #Bolt #HakkiAfrica #Kenya #Finance #Africa
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Nigeria Launches Farmer Data Capture Initiative to Boost Agricultural Productivity The Federal Ministry of Agriculture and Food Security, in collaboration with the National Identity Management Commission, has introduced a data-capturing scheme for Nigerian farmers. This initiative aims to create a comprehensive database to enhance agricultural planning and provide targeted support to farmers. Unveiled by Permanent Secretary Temitope Fashedemi, the scheme will gather detailed information on farmers, including personal identification, farm size, and crop types. A Technical Working Group has been established to oversee implementation, develop data collection strategies, and ensure accuracy. The partnership with NIMC leverages their expertise in identity management to build a robust and reliable database. Dr. Peter Iwegbu, Director of Card Management Services at NIMC, emphasized the commitment to secure and accurate data collection. #AgriTech #Data #Nigeria #Foodsecurity #Digitaltransformation
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𝗖𝗮𝘀𝗵 𝗗𝗼𝗺𝗶𝗻𝗮𝘁𝗲𝘀 𝗖𝗿𝗼𝘀𝘀-𝗕𝗼𝗿𝗱𝗲𝗿 𝗧𝗿𝗮𝗱𝗲 𝗣𝗮𝘆𝗺𝗲𝗻𝘁𝘀 𝗶𝗻 𝗔𝗳𝗿𝗶𝗰𝗮, 𝗗𝘂𝗽𝗹𝗼 𝗥𝗲𝗽𝗼𝗿𝘁 𝗥𝗲𝘃𝗲𝗮𝗹𝘀 A new report by Duplo, a leading African payment solutions provider, highlights the persistent use of cash in cross-border trade within Africa. According to the "State of Cross-Border B2B Payments in Africa" report, 40% of trade payments between East and West African countries are still conducted in cash. This high rate of cash transactions contributes to significant underreporting of trade volumes, with estimates ranging from 12% to 76% of transactions going unreported. The prevalence of cash payments poses challenges for accurate trade data collection and financial transparency in the region. The report suggests that this reliance on cash transactions underscores the need for more efficient and accessible digital payment solutions in cross-border African trade. It also highlights the potential for fintech innovations to address the limitations of traditional banking channels in facilitating cross-border payments. This finding comes as Africa seeks to boost intra-continental trade, which was valued at $193 billion in 2022, representing 13.8% of the continent's total trade. #African #Trade #Crossborderpayments #Payments #Cash #Economy #Fintech #Economies
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𝗕𝗮𝗻𝗸 𝗼𝗳 𝗧𝗮𝗻𝘇𝗮𝗻𝗶𝗮'𝘀 𝗙𝗶𝗻𝘁𝗲𝗰𝗵 𝗥𝗲𝗴𝘂𝗹𝗮𝘁𝗼𝗿𝘆 𝗦𝗮𝗻𝗱𝗯𝗼𝘅 The Bank of Tanzania introduced a regulatory sandbox for fintech startups, marking a significant step in fostering innovation in Tanzania's financial technology sector. This initiative aims to create a controlled environment for testing new financial products and services that may not yet fully comply with existing regulations. The sandbox is open to a range of participants, including financial service providers licensed by BoT, fintech companies collaborating with licensed providers, and those intending to offer solutions to BoT-regulated financial services. The application process involves quarterly invitations from BoT, with applicants required to submit an application form, risk profile, and supporting documents within 30 days of invitation. Evaluation criteria for applicants are rigorous, focusing on innovative use of technology, potential to address market gaps, and demonstration of adequate resources for testing. Successful applicants will have a specified timeframe to test their solutions in a live market environment, allowing for real-world assessment of their innovations. A key aspect of the sandbox is its emphasis on consumer protection, striking a balance between allowing innovation and safeguarding consumer interests. Additionally, the initiative aims to support fintech innovators in transitioning from an unregulated to a regulated environment, providing a pathway for sustainable growth and integration into the formal financial sector.This regulatory sandbox aligns with Tanzania's broader efforts to promote financial inclusion and digital innovation. Following similar initiatives in neighboring East African countries, it is expected to accelerate the growth of Tanzania's fintech sector, which currently comprises about 8.83% of the country's 842 known startups. #Fintech #Regulation #Tanzania #Tech #Innovation #Africa #Finance #Financialinclusion
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