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Week commencing 12 August
Kenya’s largest bank by assets, KCB Group, plans to increase investment in South Sudan. After riding out the ruinous civil war for the past five years, the bank is reopening branches and has even introduced mobile banking to attract more customers with the aim of increasing its client base from 122 000 to 200 000 by end of next year.
Bloomberg 8 August
British drinks giant Diageo plans to inject nearly $250m into sustainability projects at 11 of its African breweries. This will mark its largest green investment in a decade. The sustainability project will include renewable energy and water recycling systems at its breweries to reduce their carbon footprints.
Vanguard 6 August
Uganda & Rwanda
Kenyan e-commerce start-up Sokowatch has launched in Rwanda and Uganda. Sokowatch allows informal traders to use their mobile phones to buy products from suppliers. This follows a $2.5m funding round. Investors include 4Dx Ventures, Lynett Capital and Village Global, Outlierz Ventures and Golden Palm Investments.
Liquid Africa 7 August
Safaricom has invested $3.9m in its international mobile money transfer business as part of its efforts to expand the usage of the M-Pesa platform.
Daily Nation 5 August
French hospitality group Accor, the largest hotel chain outside of the US, plans to open its first McGallary Hotel Collection in Gigiri in the first quarter of 2021. The hotel, which will be opened in partnership with Jit Group, will be the fifth hotel under the hospitality group in Kenya, which operates different brands.
Business Daily August 8