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Kenya: Safaricom bets on voice identity to rein in fraud

scom

Listed telco Safaricom has introduced voice biometric system aimed at reducing fraud and helping its customers to reduce cases of identity theft. The system, dubbed Jitambulishe, will allow customers to access Safaricom services such as resetting M-Pesa PIN and PUK requests through a faster and less intrusive vetting process. The system aims to cut down the number of steps a ...

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Heineken to open $100MN brewery in Mozambique in 2019

heineken

Heineken will open a $100 million brewery in Mozambique, its first production facility in the southern African nation, the brewer said on Monday. The world’s second-largest brewer plans to start production at the 0.8 million hectoliters capacity plant in the capital Maputo in the first half of 2019, it said in a statement. Advertisement Heineken, which also brews Amstel and ...

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Nigeria’s Access Bank’s next frontier

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Nigeria’s Access Bank plans to grow its trade payment and settlement service over the next five years as foreign lenders faced with increased regulation at home cut their correspondent banking exposure to West Africa. So-called correspondent banking operations boomed over the last decade as commodity prices spiked and offshore lenders looking to tap into trade flows to Africa extended lines ...

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Nigeria’s hottest investment opportunities

Manufacturing

The past year has been one of economic progress for Nigeria, with Africa’s largest economy managing to crawl back into growth territory in the second quarter of 2017. Advertisement The Nigerian government has realised that it needs to make the country as attractive and lucrative as possible for offshore investors to bring their capital, skills and business trade into the ...

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Tanzania restores power in parts of country after nationwide outage

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Tanzania’s power utility said on Friday it had started to restore electricity to parts of the country after the East African nation was hit by a country-wide blackout on Thursday morning. “Efforts are ongoing to make sure that power supply is restored to all parts of the country,” the state-run Tanzania Electric Supply Company (TANESCO) said in a statement. TANESCO ...

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Nigerian capital inflows more than doubled in Q3 to $4.2BN

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The total value of capital imported into Nigeria more than doubled in the third quarter to $4.15 billion, after the economy emerged from a recession, the National Bureau of Statistics (NBS) said on Monday. Nigeria’s economy grew in the second quarter, climbing out of its first recession in 25 years, as oil revenues rose. Last year the central bank imposed ...

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Court challenge to South Africa mining charter postponed to February

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A court hearing for a challenge by South Africa’s mining industry to revisions to a sector charter which include raising levels of black ownership has been postponed to February from December, country’s Chamber of Mines said on Monday. “A judge decided that two days was not enough time and asked for three days, so the matter has been postponed,” said ...

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East Africa:Burundi’s inflation rises to 17.6% yr/yr in October

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Burundi’s inflation accelerated to 17.6 percent year-on-year in October from 15.2 percent in September due to rising food costs on local markets, official figures showed on Monday. Food inflation jumped to 28.0 percent in the year to October from 23.9 percent in September, the Institute of Economic Studies and Statistics (ISTEEBU) said in its monthly report. Advertisement The tiny East ...

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Kenya: Unclaimed assets now hit Sh25bn

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Unclaimed cash and securities surrendered to a State agency have hit Sh25.9 billion as managers of non-compliant firms face heavy penalties and jail terms. While the agency is now holding a large haul of cash, most of the surrendered assets are by publicly traded firms. Unclaimed Financial Assets Authority (UFAA) chief executive Kellen Kariuki said by September 30, it had ...

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