Fintech Association Of Kenya

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CREST, a global non-profit organization focused on enhancing the cybersecurity industry, has launched the Cyber Accelerated Maturity Programme (CREST CAMP) to strengthen cybersecurity capabilities worldwide. Funded by the UK Foreign, Commonwealth & Development Office (FCDO), this program is designed to accelerate the growth and maturity of cybersecurity service providers in regions identified as needing more robust cybersecurity ecosystems. The program will run from September 2024 to March 2025 and will be implemented in various countries, including: - Armenia - Bahrain - Georgia - Ghana - Kenya - Lithuania - Malaysia - Oman - Philippines - Thailand CREST CAMP underscores the importance of the private sector in national security and seeks to provide mentorship and resources to help companies achieve professionalization and growth. Nick Benson, CEO of CREST, stated that this program is crucial for supporting companies in their cybersecurity journey. It will leverage a global network of over 380 CREST-accredited member companies to provide intensive mentorship to selected service providers in each region. This guidance will assist these companies in obtaining accreditation and expanding their customer base while positioning them for international service export. The official launch of CREST CAMP occurred at the Wilton Park Dialogue on September 17, 2024, reinforcing CREST's commitment to developing sustainable cybersecurity ecosystems across Europe, the Middle East, Africa, and Asia. #Cybersecurity #CREST #CyberMaturity #GlobalProgram #DigitalSecurity

Yellow.ai has launched a new voice platform called VoiceX, designed to enhance customer service through artificial intelligence (AI) agents. This platform utilizes large language models to provide a more human-like conversational experience, addressing common challenges associated with traditional voice bots, such as robotic responses and limited conversational depth. VoiceX seeks to facilitate natural and uninterrupted conversations, delivering accurate answers to complex queries while personalizing interactions based on user history and preferences. It also includes features to cancel background noise, ensuring clear communication. The platform integrates seamlessly with customer relationship management (CRM) systems and enterprise knowledge bases, allowing for easy escalation to human agents when needed. The development of VoiceX represents a notable technological advancement, as it incorporates massive parallelization of services for optimal performance. This enables the platform to handle high volumes of customer inquiries efficiently, ultimately improving customer satisfaction and reducing abandonment rates. #AI #CustomerService #VoiceTechnology #YellowAI #ConversationalAI

Uber has announced the nationwide rollout of two new safety features designed to enhance the security of its drivers and riders: rider verification and the "Record My Ride" functionality. Both features will be available across all 50 states starting September 18, 2024. The rider verification feature allows drivers to see a "Verified" badge for riders who have uploaded identification or had their account information checked against trusted third-party databases. This move responds to driver feedback, indicating a desire for more information about passengers. According to Uber CEO Dara Khosrowshahi, verified riders tend to receive higher ratings from drivers and generate fewer serious complaints. The "Record My Ride" feature enables drivers to record video and audio during trips using their smartphones. This function provides an extra layer of protection without the need for a separate dashcam. Recordings are encrypted and stored on the driver's device, ensuring privacy; they can only be accessed if the driver chooses to send them for review. #Uber #RiderSafety #DataProtection #RideSharing #DriverVerification

Burundi has launched a $92 million initiative aimed at enhancing internet access and digital public services, known as the PAFEN (Support Project for the Foundations of the Digital Economy). This project, unveiled by Vice President Prosper Bazombanza, is funded by the World Bank and is part of the government's broader strategy to position Burundi as an emerging country by 2040 and a developed nation by 2060. The PAFEN project focuses on several key objectives, including closing the digital divide, improving access to digital services in the public sector, and establishing a robust legal framework for data protection. The initiative is particularly timely as it coincides with a national survey assessing the penetration of ICT in Burundi, where the country currently ranks low in digital connectivity compared to other African nations. The overall goal of this project aligns with Burundi's vision for economic and social transformation through the development of information and communication technology (ICT). By facilitating better access to digital services, the government aims to promote transparency, efficiency, and effective governance. This initiative also complements the Master Plan for the Digitalization of Public Services in Burundi (PDDSP 2023-2033), which outlines a comprehensive roadmap for transforming public service delivery through digital technologies. The PDDSP emphasizes building ICT infrastructure, enhancing human capacities, and establishing a supportive legal framework to ensure successful e-governance. Image Source: WeAreTech #Burundi #DigitalEconomy #PublicServices #ICT #WorldBank

The GSMA has launched the first industry-wide Responsible AI (RAI) Maturity Roadmap, aimed at guiding telecom operators in the ethical and responsible use of artificial intelligence. This initiative recognizes the significant potential of AI within the telecom sector, with estimates from McKinsey suggesting an opportunity worth up to $680 billion over the next 15-20 years. The RAI Maturity Roadmap provides telecom organizations with tools to assess their current maturity level in AI usage and outlines steps to achieve their ambitions while adhering to ethical standards. Developed through insights from McKinsey and contributions from various operators, the roadmap incorporates global regulations and best practices from organizations like the OECD - OCDE and UNESCO. Key features of the roadmap include five core dimensions: organizational vision and values, AI governance, technical controls, collaboration with third parties, and change management strategies. These dimensions guide organizations in implementing responsible AI practices relative to their maturity level. This initiative has been supported by Axiata, Deutsche Telekom, Orange, Telefónica, and Telstra. Currently, nineteen mobile network operators (MNOs) have pledged to utilize the roadmap to monitor, uphold, and enhance their responsible use of AI.  The GSMA's initiative aims to provide clarity and a unified approach to ethical AI, enabling MNOs to adopt the technology confidently and unlock its full potential while ensuring responsible practices are maintained. Mats Granryd, Director General of GSMA, emphasized that responsible AI is essential for harnessing the technology's opportunities sustainably. The telecom industry is positioned as a leader in this commitment, setting an example for other sectors to follow. #GSMA #ResponsibleAI #Telecom #EthicalAI #Innovation

M-CHECKOUT has recently launched the M-Checkout Business Console, a tool tailored for supermarket store managers. This console allows managers to track transaction metrics, manage branch revenues, and monitor transactions seamlessly, enhancing operational efficiency. Additionally, the beta version of the M-Checkout app is set to launch next week, further streamlining the checkout process for users. The M-Checkout Business Console is part of Checkout.com's broader strategy to optimize payment solutions for retailers. This initiative aligns with their recent developments, including the introduction of Intelligent Acceptance, an AI-powered optimization engine that boosts acceptance rates and increases merchant revenue by leveraging extensive transactional data. Learn More: https://lnkd.in/dnN4iYhb #Checkout #RetailTech #PaymentSolutions #MCheckout #BusinessConsole

Looks like the winds of change are blowing through Nairobi's corridors of power, and it's not just the usual hot air! With STARLINK beaming reliable internet right into City Hall, speeds between 120 Mbps and 200 Mbps are now a reality for government offices. Meanwhile, Safaricom PLC, it's time to step up the game—Starlink is setting a new standard in your own backyard. Who knew the government would get a taste of the future first 😅 ? 🚀 #StarlinkVsSafaricom #InternetWars #GameChanger

The National Social Security Fund (NSSF) in Uganda is set to announce a higher interest rate for its contributors, surpassing the 10 percent offered last year. NSSF Managing Director Patrick Ayota attributed this improved performance to a favorable economic environment, a rebound in equities, and a significant increase in member contributions. Over the 12 months to June 2024, the Fund's total assets grew by UGX 3 trillion to UGX 22.13 trillion, with revenue rising 15 percent to UGX 2.5 trillion. Notably, strong returns from investments in major equities such as MTN, Airtel, Equity Bank, and Safaricom, alongside substantial exchange rate gains, played a crucial role in boosting the Fund's performance. The Fund’s growth reflects strategic investments primarily in treasury bonds, which make up 79.2 percent of its portfolio, complemented by equities and real estate. With inflation rates remaining below the Central Bank's target, NSSF's expected returns are competitive against other investment options like unit trusts and Treasury bills. Despite a challenging two years marked by leadership turmoil, Ayota praised the groundwork laid by his predecessor, emphasizing that long-term strategic planning has enabled the Fund to outperform its targets, including achieving its goal of reaching UGX 20 trillion by 2025 well ahead of schedule.

𝐉𝐏𝐌𝐨𝐫𝐠𝐚𝐧 𝐂𝐄𝐎 𝐉𝐚𝐦𝐢𝐞 𝐃𝐢𝐦𝐨𝐧 𝐭𝐨 𝐯𝐢𝐬𝐢𝐭 𝐊𝐞𝐧𝐲𝐚 𝐢𝐧 𝐠𝐫𝐨𝐰𝐭𝐡 𝐩𝐮𝐬𝐡 JPMorganChase CEO Jamie Dimon is scheduled to visit Kenya in mid-October, marking his first trip to the continent in seven years.  This visit comes as J.P. Morgan seeks to accelerate its expansion plans on the continent, particularly in the wake of a delay in obtaining a banking license in Kenya. Despite having opened its Nairobi office last year, the bank has encountered regulatory hurdles that Dimon aims to address in high-level meetings with Kenyan government officials. The trip will also include visits to Nigeria, South Africa, and Ivory Coast. The expansion into Africa aligns with a broader trend among global banks aiming to increase their footprint on the continent, driven by rising opportunities in sovereign debt, corporate transactions, and wealth management services. Analysts suggest that international lenders are focusing on enhancing their offerings to multinational companies operating in Africa while also targeting affluent clients through private banking services. This strategic shift is seen as a way for banks like JPMorgan to differentiate themselves from local competitors and capitalize on the growing demand for sophisticated financial services. JPMorgan's aggressive approach to international expansion is evident from its recent initiatives, which include a $20 billion investment plan aimed at increasing its global presence and generating significant revenue growth. Over the past five years, the bank has successfully expanded into 27 new locations worldwide, contributing $2 billion in revenue from its commercial and investment banking operations. As major global banks adapt their strategies to individual African markets, JPMorgan's upcoming visit may serve as a pivotal moment for the bank to solidify its position and navigate regulatory challenges effectively.