Deluxe Trucks and Buses East Africa has appointed Hussein Kamal as its General Manager. He brings along twenty years of automotive industry experience, deep knowledge of Kenyan market dynamics, and Ashok Leyland products.

Hussein Kamal joins Deluxe Trucks & Buses from Truckmart Africa, where he spent the past five years as the General Manager for after-sales. With such experience and drive, he is certain to steer growth in the company and increase further presence within the competitive road transport industry in Kenya.

My vision in Ashok Leyland for Kenya is about taking customer satisfaction to a different level by strengthening after-sales support, which holds the key for trucking business excellence in this market. We would strengthen our dealer network and customer-related training programmes with focused marketing strategies to position Ashok Leyland as the leading commercial trucking brand in Kenya, ” Kamal said.

Kamal will bring strategic leadership, business operations management, and drive the growth of the Ashok Leyland brand in the new role. He will be responsible for the overall performance of the business operations in the country, reporting directly to Naresh Leekha, Group Managing Director — Motors Division at Simba Corporation.

“We believe that Kamal’s deep industry and technical knowledge, combined with an unequal familiarity of Ashok Leyland, positions him very well to lead Ashok Leyland’s growth in Kenya,” said Naresh Leekha.

The appointment is happening at a local market where there is an improved demand for high-quality and cost-effective level automotive products. Ashok Leyland power meets the demand by giving the best competitive price and a five-year warranty on service and parts on new vehicles.

Mr. Hussein Kamal brings deep experience, and this major fillip to Ashok Leyland will ensure customer satisfaction and market leadership issues are sorted through his long-time experience and the strong product offerings of the company.

Mogo, a leading financier of assets in East Africa has committed Sh1 billion in funding from the US International Development Corporation to finance electric boda bodas and tuk tuks at affordable interest rates for scaling up EV adoption in Kenya.

Mogo has lent out Sh20 billion in the last five years to boda-boda and motor vehicle loans, extending relatively cheap financial products to over 120,000 Kenyans. With the new funding, the firm is eyeing wider distribution of EVs across the country.

“Mogo is focusing on financing e-bikes and three-wheelers, facilitating access to various EV brands by Kenyans in Nairobi and other parts of the country. The move remains key to mitigating global warming through a reduction in greenhouse gas emissions while economically empowering boda boda riders,” said Rauls Leitis, Mogo Business Development Project Manager.

Lower interest rates coupled with reduced loan requirements have a view to making EV ownership more affordable. The industry has it that electric vehicles enable boda boda riders to earn at least Sh300 more daily than their counterparts using fuel guzzlers. This stems from cost savings resulting from fuel and maintenance, coupled with favorable loan terms by Mogo for electric bodas.

Most electric boda bodas run based on a battery-swapping model whereby operators could quickly replace an empty battery with a fully charged one. Coupled with this convenience, the financial muscle from IDFC is expected to further catalyze the growth of the industry in e-mobility in Kenya.

Mogo offers tailor-made services to ease boda boda operators’ transactions, including financing that most may otherwise not have the capacity to access through regular banks. “Given that they are relatedly more expensive at the front end compared to fossil-fuel-powered bikes, this support is even more important for e-mobility. Mogo helps drive electric mobility adoption through lower interest rates for electric bodas, and dramatically reduces required downpayment compared to the fuel bikes, in efforts to ensure more boda boda operators own electric bodas,” he said.

The boda-boda component in Kenya contributes a lot to GHG emissions; hence, e-mobility is important to reduce it and attain the environmental goals in the country. For instance, Kenya intends to be a net zero emitting nation by 2050, and this initiative supports e-mobility; more than 90% of electricity production from this country is renewable; hence, Charge EV Batteries are clean and efficient.

Mogo provides an in-depth onboarding process that enables the new EV owner to understand the differences between fuel-powered and electric bikes, proper handling and battery swapping procedures. This step toward education is very important if a seamless transition to electric mobility is to be driven.

DIB Bank Kenya has rolled out a mobile banking platform, yet another major milestone in the journey toward digital transformation. The move is aimed at increasing its presence within the corporate banking space by offering a rich set of features that flesh out better security, efficiency, and user experience for their customers.

From Left to right: DIB Bank Kenya Head of Treasury and Representing the CEO’s Office Mary Kanuku, Corporate Customer Yasser Mughal, and Sarit Branch Manager Imtiaz Harunani interact during a customer engagement session at the Sarit Branch. The Bank is committed to strengthening customer relationships and enhancing service delivery through regular engagement sessions. Reiterating the commitment to growth-enhancing innovative digital solutions and Shariah-compliant banking services, Mary Kanuku represented the office of the CEO.

“Our continued investment in digital infrastructure is a testament to our commitment to the innovative solution of banking as the growth drivers for the Bank”, said Mr. Kanuku. “Embracing the digital revolution, DIB is keen to lead in setting new standards in the banking digital space while giving its contribution towards greater economic development of Kenya.”

DIB Bank Kenya, which was inaugurated in May 2017 and is a wholly-owned subsidiary of the Dubai Islamic Bank, has marketed itself as a driver of ethical, sustainable financing that adheres to Islamic law. It announced its first profit seven years since its inception in 2024. Profit before tax for the first quarter of 2024 increased by 105% to Sh6,332 million from a loss before tax of Sh125 million during a similar period in 2023, which was driven by a rise in core revenues, non-funded income, and low impairment charges.

Comprehensive feedback, market research, and customer-centric strategies prevailed at the bank. Its balance sheet had expanded 49% year-on-year to Sh28.2 billion, buttressed by a 49% growth in customer deposits to Sh21.6 billion.

A report on Digital Banking 2024, from Statica, foresees the net interest income for the digital banks market making a massive rise to US$ 255.6 mn (Sh 32.9 bn) by the end of 2024. It is expected that the market will continue to grow at an annual growth rate of 5.25% from 2024 to 2029 and could reach US$ 330.10 mn by 2029.

There has been an increase in the adoption of digital banking in Kenya, changing how people manage their finances and access banking services.

It was in July 2022 that the commission that digital taxi-hailing apps could charge drivers was reduced by the government from 25 percent to 18 percent. However, this was still not enough for the drivers who consequently called for a countrywide strike on Monday to protest against the working conditions.

The drivers, through the Ride-hail Transport Association, have been demanding to be included in the pricing decision. According to drivers, they bear most of the operational costs, which emanate from insurance, fueling, and parking. Its secretary-general, Zakaria Mwangi, warned that drivers may choose unorthodox ways to come up with prices if their demands were not met.

Drivers could initiate direct disclosure to passengers and impose some general agreement in the pricing of the extra fee for trips, especially to those who would not be willing to pay this extra fee; no one would carry them, added Mwangi.

In reaction, Bolt said it was interested in having conversations with driver-partners so that the company grows and progresses together with them. The company stated how drivers are supported online and physically for their success.

Mwangi who is one of the drivers says 80 to 90 percent of operation cost is spent by drivers, while these one-way app companies unilaterally set the prices for the trip—nothing on their share of expenses. At the same time, he termed the price model as inequitable, unsustainable, and throttling, since price-setters are out of touch with the pains of a driver.

Although drivers had initially lauded the commission cap by the Ministry of Transport and Infrastructure in July 2022, they feel that this was not enough to ease their financial struggles. The Digital Taxi Forum had petitioned Parliament to reduce commissions to a maximum of five percent way back in 2020.