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Bolt Awards 10 Drivers and Couriers in Kenya €20,000 for Business Innovation

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Bolt Awards 10 Drivers and Couriers in Kenya €20,000 for Business Innovation

Estonian-born ride-hailing and food delivery startup Bolt has rewarded 10 Kenyan drivers and couriers with €20,000 in reward for innovative business ideas as a move to foster entrepreneurial talent. The competition initiated by Bolt is aimed at equipping the participants with sharpened business skills and triggering fresh ideas into the industry.

Finalists Receive Seed Funding and Mentorship

It is drawn from Bolt’s accelerator program, in which winners will each get €2,000 in seed funding to financially support their ideas, the amount is equivalent to Sh 289,166.63 Kenyan shillings. Drivers and couriers will also get a six-week mentorship journey to keep molding their business ideas. The mentorship will involve matching them up with industry experts to guide and connect them with key contacts who will enable them to thrive in business.

According to Bolt, the effort seeks to provide “guidance, mentorship, and access to a network of industry experts so that they are better equipped with the tools and the support to drive businesses to success.”

Innovative and Brilliant Business Proposals

The presentations were varied with a wide array of pitches showcasing different unique business ideas during the pitches as finalists presented their creative and innovative ideas. Among those that impressed the panel were:

  • Ideas ranged from the creation of fixed charging centers through to portable electric car and bike charging. This showed the increasing number of requirements towards structural adjustment in favor of transition towards green energy.
  • Business Hubs for Drivers: Other business proposers aimed at coming up with facilities offering vital services and assistance to drivers.
  • Vehicles for People with Disabilities: Another brilliant idea was investment in disability-compliant vehicles, a plea for the inclusion of persons with disabilities in transport.
  • Food and Grocery Deliveries Powered by Technology: A number of participants sought ways of leveraging technology to guarantee efficient last-mile delivery of food and groceries in the blossoming e-commerce industry.

Identifying Extraordinary Talent

Among the winners, three other individuals excelled in their contributions. Adrian Kagiri Amunga was recognized for having the most innovative idea, while Antony Gwaro Nyangaresi won for the most scalable idea. Teddy Muthami Muriithi won the best pitch award, complementing the array of talent that existed within the competition.

Investing in the Future of Bolt’s Community

Bolt General Manager Rides Kenya, Linda Ndungu, recognized the importance of drivers and couriers in the company’s ecosystem, saying they are not just service providers but part of the community that connects millions of people in Kenya. She said their effort should be recognized, successes celebrated, and investment in their futures.

“To the winners, your effort and innovation indeed deserve this award, complete with €2,000 seed funding. We can’t wait to see what happens next for them on their entrepreneurship journey,” added Ndungu.

The Winning Projects Move Kenya’s Innovation Forward

For small business owners and innovators in the transport and delivery industries, these awards and accelerator programmes go beyond just money; it’s the beginning of their empowerment. This means mentorship, geared with financial support to make those ideas successful and benefit the local economy and culture through innovation.

Safaricom Introduces New Airtime Purchase Scheme Amid Tariff Adjustments

Tuvuti Editorial Team
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Safaricom Introduces New Airtime Purchase Scheme Amid Tariff Adjustments

Safaricom has reviewed the prices of its voice calls and text messages. As it is, voice calls are charged at Sh4.87 per minute for peak and Sh2.50 per minute for off-peak. Sending a text message costs Sh1.20.

Introduction of New Airtime Purchase Option

This comes barely a month after Safaricom started charging Sh0.50 daily for those exceeding two free reverse calls daily. The move is viewed to prune free services as a way of raising revenues.

Safaricom informed clients about this in a recent text message: “You will be charged 50 cents on your third reverse call request. Please note that you will not incur any other cost to use this service for the rest of the day.”

To facilitate this transition process, Safaricom introduced a Sh1 airtime purchase option. A denomination as small as this allows subscribers to make reverse calls or cater for such basic needs, thus giving them some relief when finances are at their lowest.

The Reverse Call Feature and Its Impact

Safaricom introduced the reverse call feature in June 2019, enabling subscribers to make a call while the person being called pays for it. The company thus introduced such a feature to complement the ‘Please Call Me’ service and more so drive usage among subscribers. Nonetheless, the growth of reverse calls has relatively dragged revenue growth, even though Safaricom retained the leading market share in voice services.

Dominance in the Voice Market

In the first quarter of this year, Safaricom’s dominance in the local voice market rose to 65.5 percent from 63.3 percent in December, posing a challenge to its main competitor Airtel, which saw its market share drop to 33.96 percent from 36 percent.

From Safaricom data as at March, the subscribers stood at 44.67 million subscribers. However, this huge customer base has not translated to an increase in revenues mainly due to the high number of users choosing the reverse call feature.

OPPO Reno12 Series: Revolutionizing Smartphone Connectivity with AI LinkBoost

Tuvuti Editorial Team
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OPPO Reno12 Series: Revolutionizing Smartphone Connectivity with AI LinkBoost

In today’s fast world, staying connected is more crucial than ever. Smartphones have now turned out to be the most essential gadgets, helping people work on the go and stay in contact with their families and friends, which in turn manages the daily life of the person. With this increasing dependency, one requires a strong and swift connection. Hence, OPPO comes with its Reno12 Series built with the next generation AI LinkBoost technology for the best connectivity class irrespective of where one is located.

What is AI LinkBoost?

AI LinkBoost is OPPO’s latest set of optimizations, tailor-made for the Reno12 Series to guarantee superior network coverage in very demanding situations. Fredrique Achieng, PR Manager for OPPO Kenya, says, “AI LinkBoost introduces state-of-the-art features like 360º Surround Antenna, boosting antenna power, intelligently choosing between different networks, seamlessly connected, beating the competition with seamless connectivity-even at a weak signal or under complex network conditions.”.

360º Surround Antenna: More Power to Get You Through Harsh Conditions

Among the most striking features of AI LinkBoost is the 360º Surround Antenna. Indeed, this powerful hardware-software combination is created to better connect even in harsh conditions. The nine-antenna design, combined with AI adaptive antenna switching, makes sure that the Reno12 Series keeps you moving in your garage, through tunnels, or any other low-signal area.

This feature is highly beneficial for mobile gamers. The Reno12 Series comes with a third gaming antenna that is optimized for mid and high-frequency performance, further reducing the latency in games by 43% when compared to the Reno11. This feature provides the gamer with a big advantage and assures smoothness while offering speedier responses to every action.

AI LinkBoost for Seamless Network Switching

Either from WiFi to cellular, or from a network on one SIM card to another. The slightest disruption will cause a call to get cut off or a streaming video to buffer. AI LinkBoost on the Reno12 Series tries to combat this by boosting signal transmission power and enhancing its reception capacity for smoother transitions between networks.

AI LinkBoost speeds up SIM switching by 52% for an always-on connected experience for the dual SIM users. What this means, more specifically, is that it will help users who have to juggle work and personal use on different SIMs with minimum downtime to maintain connectivity.

Beyond that, AI LinkBoost increases the speed of WiFi to cellular network switching on the Reno12 Series by 48%, which reduces stutter by 66% during voice calls. This is quite useful when leaving the area of WiFi during a call because the transition to VoLTE will be seamless.

That can be frustrating when one needs to use data-intensive apps in an area with a weak network signal. AI LinkBoost for the Reno12 Series works intelligently to prioritize the active app, therefore shrinking video call lag by 83% and video playback lag by 75% during background downloads. This means you can keep continuous gaming or streaming, or video call without interruptions, even in low-signal areas.

A Harmonious Suite of Features

Therefore, it would not be wrong to say that the Reno12 Series is a complete solution for connectivity with minimum downtime through its AI LinkBoost technology. This has awarded the Reno12 Series as the world’s first TÜV Rheinland High Network Performance Certification by guaranteeing seamless network performance in all scenarios.

Availability and Pricing

The Reno12 series is finally here in Kenya. The Reno 12 will retail for Ksh 69,999, while the Reno12 F will be available for Ksh 49,999 on the OPPO Kenya website, various eCommerce partners, LOOP, and OPPO bricks-and-mortar stores across the country.

The introduction of AI LinkBoost in the OPPO Reno12 Series raises the game bar to a whole new height of performance, hence making your smartphone experience seamless from wherever you are. Be it heavy gaming, working outdoors, or whatever activity requires a strong connection, the Reno12 Series is designed to keep you connected always.

Safaricom’s Mali Unit Trust Scheme Sees Impressive Growth Amid Licensing Wait

Tuvuti Editorial Team
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Safaricom’s Mali Unit Trust Scheme Sees Impressive Growth Amid Licensing Wait

Assets under the management of Safaricom’s Mali unit trust scheme have jumped to KSh 2.3 billion in the first half of 2024. This is a major uplift from the KSh 1.4 billion that was recorded as of the end of December 2023. The fund has, however, remained closed to new investors pending necessary licensing by regulators.

Unit Trust: A type of collective investment scheme in the professional managers of funds who invest the money into bonds and stocks amongst other assets. The sum of money pooled in the fund is divided into units that the investors can buy to achieve a diversified portfolio of investments like mortgages and securities, as well as cash equivalents.

Mali’s Status of Operation: Currently, Mali is a closed fund. This is because the full license from the fund manager came late. Mali’s operationalisation took place after its launch as a pilot, and since then, it has been trying to digest the input of existing investors instead of bringing on board more. Safaricom currently works on getting the full license that would enable them to aggressively market it while hiring more fund managers to use administrators in the market.

Growth in Assets: Genghis Capital, which started managing the Mali fund in 2019, said that the African nation added KSh 900 million to the portfolio in the six months to June 2024. The largest chunk of the asset is held in fixed deposits at KSh 1.3 billion, followed by government securities at KSh 585.1 million, and call deposits at KSh 412.2 million. The fund has smaller exposures to bank and cash balances, corporate bonds, and other investments.

Financial Performance: For the six-month period, Mali booked KSh 115.5 million in profit and a total income of KSh 138.9 million. This includes a KSh 12.7 million gain from the fair value of other investments. During this period, operating and administrative expenses were KSh 23.3 million.

Competitive Landscape: With Safaricom gearing towards turning Mali into a duly licensed collective investment scheme, competition among fund managers is set to increase. The fact that Mali is backed by Safaricom means that it will immediately emerge as a competitor to established players like CIC, NCBA, Britam, Sanlam, and ICEA. So far, the CMA has approved 36 schemes comprising 150 funds, with money market funds being the most popular category.

Over Half of Jumia Kenya’s Enterprises Are Female-Owned, UNCTAD Highlights E-Commerce’s Role

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Over Half of Jumia Kenya’s Enterprises Are Female-Owned, UNCTAD Highlights E-Commerce’s Role

Over half of all enterprises listed on Jumia, Kenya’s leading e-commerce platform, are owned by female founders puts into light the key role of e-commerce in empowering women entrepreneurs. Online platforms, says a recent digital economy report by the United Nations Conference on Trade and Development, continue to break down barriers that have long inhibited women’s participation in trade-a lack of access to finance, high costs of entry, and male-dominated distribution networks.

While these advances are important, UNCTAD warns that e-commerce dividends must be viewed in the context of asymmetric digital readiness. The report highlights that future e-commerce prospects, particularly for developing countries and LDCs, depend on appropriate policy interventions that address the digital gap.

In this regard, UNCTAD was working with governments all over the world, as well as through the “e-Trade for all” initiative, to develop conducive environments where firms of all sizes could have access to national and international markets, cut their trade costs, and enhance efficiency by competition.

In an earlier report, the International Finance Corporation outlined the economic opportunity of bridging gender gaps in e-commerce, estimating that near $15 billion could be added to Africa’s e-commerce industry between 2025 and 2030 by doing so. However, it also cited challenges faced by women in the sector, as female-owned enterprises reported a decline of 39 percent in sales during the Covid-19 pandemic, while male-owned ones witnessed an increase of 28 percent.

Some of the inequalities against which the IFC recommends that e-commerce companies direct their training include targeting women-owned enterprises, better participation of women in high-value sectors such as electronics, and using emerging fintech solutions, which, for the time being, women use less than men.

Bolt Increases Ride Charges Amid Driver Protests

Tuvuti Editorial Team
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Bolt Increases Ride Charges Amid Driver Protests

The ride-hailing firm Bolt increased its ride prices, including the minimum charge, a week after Uber moved in the same direction. This move follows several months of pressure from drivers who started protesting the low prices by setting their rates in recent weeks.

Bolt on Monday announced a base fare increase of 10% in all its ride categories. For instance, the base fare for the Economy category will increase from Sh200 to Sh220. The company said it is raising driver earnings, after continuous consultative sessions with drivers on the fairness of ride-hailing firms’ pricing mechanisms.

Drivers have complained of the unfairness in the pricing formula used in the industry. Protests by the drivers in the country saw some setting rates higher than what customers were charged on the apps, an issue which caused public outcry for firms like Bolt and Uber to increase their prices.

Last week, Uber also announced a 10% increase in its prices, including an increase in the minimum fare for its ‘Uber Chap Chap’ product. While it maintained that the decision wasn’t entirely influenced by protests from the drivers, Uber has acknowledged that the feedback played a role.

Linda Ndungu, the General Manager for rides at Bolt, maintained that the price adjustment reflects value for the drivers on the platform and seeks to ensure that they make a decent wage. Little, another ride-hailing firm, has also increased its minimum fare. The economy category at Little has gone up by Sh150.

Uber Kenya Increases Fare Amidst Driver Protests: What Passengers Need to Know

Tuvuti Editorial Team
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Uber Kenya Increases Fare Amidst Driver Protests: What Passengers Need to Know

Uber Kenya has announced an increase of 10% in all its ride charges, setting a minimum fare price, following months of protests by irate drivers. The drivers had sometimes resorted to quoting their own prices, which prompted several unplanned discrepancies between the fare suggestions on the app and what passengers actually paid.

The increase in prices cuts across all products, and the minimum fare for Uber Chap Chap is now KSh 220, up from KSh 200. All the same, Uber has been very careful to maintain secrecy regarding changes in other products’ fares. According to Imran Manji, Uber’s head of East Africa, the move was guided by data findings and decisions from drivers rather than as a direct cause following protests.

The dynamic pricing model of Uber has been taken as controversial, taking into account the distance and time. Drivers have prepared fare guides on their own and displayed them in the car. This act has created fear with the passengers who are getting inconsistent prices.

In response, Uber has started calling its customers, requesting them to share experiences where drivers charge more than the fare reflected on the mobile phone application. On this note, the company will have to maintain the stance of an “economic balance” at the increments of fares to meet the demands put forward by the drivers while simultaneously ensuring that its services are affordable to price-sensitive customers in Kenya.

Currently, Uber has over 20,000 drivers partnered on the platform together with numerous products that aim at providing most of the needs, meaning that the company’s problem is maintaining profitability and satisfaction levels with customers while managing the compensation and service provision effectively on the side of the drivers.

Safaricom Introduces Fee for Frequent Use of Reverse Call Service

Tuvuti Editorial Team
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Safaricom Introduces Fee for Frequent Use of Reverse Call Service

Safaricom has introduced an update regarding its reverse call service, which it explained that a customer will now be charged if they request the service for more than the second time in one day. This is a shift from previous mode, where the customer could make unlimited reverse calls for free. Under the new terms and conditions expected to take effect immediately, just the first two requests for a reverse call within a day will be free.

Under the new amendments to the policy, any other attempt to reverse call on the same day will attract a fee of Ksh 0.5. Safaricom said this was in a bid to try and put the breaks on the abuse of the service by users. It is clear some people just don’t care, even if they have enough airtime.

“This service will be free to the initiator of the reverse call for up to two requests in a day. Subsequent reverse call requests made within the day (after the first two requests) will be charged an access fee of Ksh. 0.5 per reverse call request,” the company clarified.

The reverse call service will be applicable on calls within the Safaricom network. Safaricom is credited with being the first to launch the reverse call service, which initially launched the “Please Call Me” feature in its system back in June 2019. In other words, to use Safaricom’s reverse call service, the user should dial the number by inserting the symbol ‘#’ before dialing the number of the person being called, for example, #0722000000.

The change reflects how Safaricom keeps managing service usage while keeping it accessible and efficient for genuine use by reverse call features.

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