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Startups will pay less taxes if current proposals are adopted by Kenya’s parliament

Tuvuti Editorial Team
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Startups will pay less taxes if current proposals are adopted by Kenya’s parliament

The cost of starting a new business in Kenya has always been a thorn, and more so affecting new startups that currently do not have a reliable revenue stream. This has in turn made young entrepreneurs shy from exploring innovation and the governments lack of incentives has made things even worse. This is however going to change if the current proposals are adopted by the parliament.

In a new bill tabled in parliament dubbed “the startup bill 2020”, Kenyan startups currently in incubation hubs will not be required to pay the same amount of taxes as established businesses, this is a move targeted at promoting innovation among entrepreneurs. New startups will get incentives ranging from fiscal and non-fiscal support that will also entail protecting their intellectual rights.

Most young entrepreneurs looking to start their own companies have attributed some of the challenges faced to lack of enough capital. This has in turn favored established firms of whom some have been accused of adopting innovations from young entrepreneurs without compensating them accordingly.

Speaking on the new bill, Nairobi’s senator Johnson Sakaja indicated the bill sort to avail a legislative framework that will guide on establishment, development, conduct of business as well as regulation of startups.

Startups will also get a credit guarantee scheme that would support research and development. Those that qualify for the incentive include companies, non-governmental organizations as well as partnerships with facilities suitable to accommodate innovative startups.

Taxi hailing app – TAXIYE launched to connect boda bodas and customers in Kenya

Tuvuti Editorial Team
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Taxi hailing app – TAXIYE launched to connect boda bodas and customers in Kenya

Ethiopian based taxi hailing app – TAXIYE has launched in the country to connect vast boda boda operators to customers in a bid that’s targeted at tapping into Kenya’s lucrative taxi industry. Kenyans have traditionally preferred motorbike taxies compared to cars as they are generally affordable and can access even remote areas that vehicles cannot access.

Despite the popularity boda boda operators enjoy in the country, the sector has faced criticism for various reasons ranging from crime related incidences to price inflations. This has made some taxi companies to try and unveil their own regulated services which promise the ability to track a driver in case of crime and also set a fixed rate to charge customers.

 According to TAXIYE Chief Executive officer Eve Maina, the company is set to invest Ksh.2 billion in the business by offering taxi drivers with motorcycles as well as vehicles through some form of lease that will see them owning their businesses. Maina further said the company was allowing drivers to acquire cars as well as motorbikes for their businesses at competitive rates. For instance, a boda boda operator may only need to make a daily payment of Ksh 250 to own a motorbike as well as a smartphone for their operations.

Boda boda operators will have a choice of paying within 3 months or up to 18 months while drivers will have up to 3 years to clear their loan. Recently, the Boda boda safety association of Kenya unveiled a centralized database to capture member details that would help curb crime by rogue operators in the country. At the moment, there are a number of Boda boda apps such as UberBoda and Safeboda that also allow customers to book for rides directly from the apps.

speaking during the launch event, Kenya’s ICT cabinet secretary Mucheru acknowledged that boda bodas were important in the country’s economy highlighting how motorbikes consume in excess of Ksh 7 billion in fuel every month and therefore needed to be recognized in that respect.

Boda boda association of Kenya (BAK) chairman Mr mobadi on his part said the industry offered the largest number of employment opportunities to Kenyan youths with an estimated 1.2 million youths currently earning a living from the sector. He further stated that some youths even shared a single motorbike to earn a living and TAXIYE’s move would rectify this thereby easing pressure from the government due to unemployment.

Kenyans borrowed Ksh 1 billion daily on Fuliza overdraft facility during the pandemic period

Tuvuti Editorial Team
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Kenyans borrowed Ksh 1 billion daily on Fuliza overdraft facility during the pandemic period

More Kenyans utilized Safaricom’s Fuliza overdraft facility during the pandemic period than any other time in the history of its existence. According to statistics released by the mobile service provider, subscribers who utilized the feature, more than doubled in the months of January through June when the pandemic was at its worst period affecting a number of households in the country.

Kenyans borrowed a massive KS. 176 billion from Fuliza in the same period compared to KS. 81 billion before the corona period totaling to KS. 967 million a day. The effects of the virus resulted in massive job losses across the world and in Kenya particularly, most businesses experienced almost zero or negative revenues due to the lockdown.

A reported number of close to two million Kenyans lost their jobs during the period, as expected, more Kenyans resorted to loans in a bid to make ends meet. MPESA has particularly become more preferred platform to acquire quick loans as there aren’t many restrictions compared to banks and other financial institutions.

Fuliza is an overdraft loan facility that allows MPESA users to access funds even when they don’t have anything on their MPESA balance, in return, the amounts due are automatically deducted from their MPESA whenever someone receives cash.

According to Genghis Capital analyst Gerald Muruiki, consumers as well as companies tent to opt for overdrafts whenever cashflows are hit. Muruiki therefore attributes the increased loan uptake during the first half of 2020 to the pandemic. He further explains that Fuliza is easily manageable than conventional loans which have had a number of defaults. The facility is integrated inside MPESA and this generally makes it easier to manage according to Muruiki.

Fuliza overdraft facility is managed by both KCB Group and NCBA who also have loan partnerships with the mobile service provider with NCBA disclosing it had offered a total of Ksh. 132 billion through Fuliza while KCB had given out Ksh. 44 billion during the first half of the year.

Tecno Spark 5 Pro comes with a 6.6-inch display, 5000mAh battery and 128GB internal storage

Tuvuti Editorial Team
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Tecno Spark 5 Pro comes with a 6.6-inch display, 5000mAh battery and 128GB internal storage

For those of us who’ve got some love left for the budget smartphone niche, the Tecno’s Spark series has definitely been quite a go to segment, the company has some interesting combination of value to woo just about anyone looking for a great device at affordable price. As of today, Tecno Spark 5 Pro is up for preoder and customers only need to deposit Ksh. 2,000 and they’ll be rewarded with free H2 HIPODS. The device comes packed with enough horse power underneath to handle just about any app on the Play Store.  

When it comes to value proposition in the android world, nothing could perfectly describe the budget market standing than a jungle, we’ve got way too many options that for a handset to standout, it has to offer beyond expectation. And somehow, Tecno has managed to convince most of us – at least in the developing world that its devices are just about good enough to deserve our pockets for the near future. We recently witnessed the company unveil Tecno Spak 5 in the country for under Ksh. 15,000 (about 13,399 to be precise), and quite frankly its among few that still manage to put an affordable price without compromising where it matters.

Comparing the normal Spark 5 and Spark 5 pro side by side, there’s a whole lot of upgrades that might convince consumers to go for the pro model instead, and of course at a slightly elevated price tag. We now get 4GB of RAM instead of 2GB we saw in the normal model, this is very significant given most android apps depend on the amount of available RAM to run smoothly. In addition, there’s 128GB of internal storage on the pro model from 32GB we saw in the other model.

According to Tecno, the image processor makes everything pop on the 16MP quad camera setup. The front camera has an 8MP sensor and should be just as good enough to capture those selfies worth sharing on social media. At the rear panel, the company combines a primary camera, depth sensor, macro lens and AI lens to deliver an extraordinary visual experience to users.

Airtel customers to access smartphones on loan thanks to Mastercard, Airtel and Samsung deal

Tuvuti Editorial Team
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Airtel customers to access smartphones on loan thanks to Mastercard, Airtel and Samsung deal

Airtel customers will now be able to purchase Samsung devices on loan, thanks to the partnership inked between Mastercard, Samsung and Airtel. The deal will see customers in the country as well as 13 other markets acquire devices and pay in affordable monthly installments. The deal is expected to become effective from October in Uganda after necessary approvals and later roll out in other territories including Rwanda, Tanzania, Kenya, Nigeria, DRC, Gabon, Malawi, Zambia, Niger, Congo Brazzaville, Chad, Seychelles and Madagascar.

This comes when Safaricom has inked a similar deal with Google to allow Subscribers purchase a smartphone for only Ksh. 20 per day. The arrangement dubbed “Lipa Mdogo Mdogo” has so far experienced a commendable uptake with customers who once couldn’t affordable a smartphone now able to acquire a 4G Neon Ray Go edition for only Ksh. 20 a day.

In the Airtel, Samsung and Mastercard deal, customers will access Samsung devices and pay for them in flexible monthly installments. This will be tremendously cheaper than if customers would have otherwise been required to raise the whole amount for the devices.

Speaking on the development, Airtel Africa CEO Mr. Raghunath Manadava said the move would help customers currently with feature phones upgrade to smartphones and pay in flexible monthly installments. Manadava further said the initiative would open up the digital economy, creating other opportunities for Africa’s entrepreneurs.

Current Airtel subscribers will access the facility depending on their transaction history, meaning only customers with good credit will be given priority. Samsung has also inked similar arrangements in the past, with firms like Lipa Later where customers are offered devices but pay in monthly installments instead of having to raise the entire amount.  

Airtel is currently pursuing deals with Asante Financial Services Group alongside the other partners to unveil a pay-on-demand platform and is expected to drive the digital economy across Africa. According to the partners, customers utilizing the pay-on-demand facility will have access to digital payments through MasterCard’s virtual card and MasterCard Quick Response (QR Codes) feature within the Airtel mobile money app, thereby allowing them to make digital transactions across face to face and online merchants.

Xiaomi Mi Watch Revolve offers a unique design, various sport modes at an affordable price

Tuvuti Editorial Team
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Xiaomi Mi Watch Revolve offers a unique design, various sport modes at an affordable price

Xiaomi has proved to be a force to reckon when it comes to wearables, and while other manufacturers are scrambling to get a piece of the pie, Xiaomi is currently diversifying its offering to include all shapes and forms we could think of. The latest Xiaomi Mi Watch revolve not only comes as a cheaper alternative to pricey Apple and Galaxy watches but also features a unique circular design most manufacturers are not willing to adopt for some reason.

While we currently do not have an official confirmation as to whether the Mi Watch Revolve will ever be sold in Kenya, I’m one optimistic fan that can’t wait to add a circular smart time piece in my closet. I’m sure the circular design has a special category among consumers given very few manufacturers are willing to take that road and I’m definitely among that group that cannot wait to have.

India seems to be lucky enough to have the Mi Watch Revolve within reach and it just doesn’t come as the first smart watch from the company in the country, but maybe one among many that so far have refused to take Apple’s highroad. Xiaomi is definitely among the top smartwatch manufacturers the world over and this is partly due to the success Mi band has enjoyed in various territories. There are a couple of similarities between the Watch revolve and the Mi Watch color unveiled earlier in China.

What does the Mi Watch Revolve offer?

There are a couple of reasons why this wearable should delight fans, and it’s a combination of a unique design and some really incredible features. The watch is enclosed in a stainless-steel frame with somewhat big 46mm dial. The 1.39-inch display is AMOLED with a resolution of 454 x 454 and is covered on top with a Gorilla glass 3.

Under the hood, users can choose from over 110 watch faces but the manufacturer plans to increase that number to way over 1,000. There are also two colors to choose from; Midnight Black and Chrome Silver, although users will have a ton of strap options, including leather, Astral Olive, Cosmic Dust Maroon, Neptune Blue, and Space Black.

According to Xiaomi, the Mi Watch Revolve comes with the FIRSTBEAT motion algorithm, credited with measuring heart rate variability (time between consecutive heart beats), energy levels, sleep quality, and stress to analyze your overall health.

In addition, the watch will be able to determine your VO2 Max reading, which basically measures your cardiovascular health. Other features include the ability to determine the amount of energy consumed, training effect including 10 sport modes.

Price and availability in Kenya

While there’s no word if the Mi watch Revolve will ever get here, there are a number of online shops you could order one. The price from various platforms range around Ksh. 15,000 so its best to assume it’ll cost around there when it gets here.

Huawei Y9a now available in Kenya for Ksh. 30,999, customers to get free Bluetooth headset

Tuvuti Editorial Team
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Huawei Y9a now available in Kenya for Ksh. 30,999, customers to get free Bluetooth headset

Huawei has finally unveiled the Y9a in Kenya with a price tag of Ksh. 30,999. Customers will also get a free Bluetooth headset gift worth Ksh. 2,499. The handset has one of the sleekest designs in the industry with great hardware underneath to assure of a stable and reliable performance even under heavy use. The Y9a comes out as a photography-oriented device with features that are set to appeal to various age groups.

As expected, the device comes with Huawei’s AppGallery pre-installed so users can download their favorite apps and in our recent analysis, we found the AppGallery sufficient enough to cater for almost every service available with Google services.

Speaking on the Y9a, Huawei mobile Kenya country head Jim Zhujie said the company had introduced a “Halo Ring Design” on the new device that was inspired by four-point headlights envisioned on the Mate 30 series. Zhujie further said the rear panel houses a quad-camera setup enclosed in a squarish design that also accommodates an outer ring that was formed by a unique coating engraved inside.  

Additionally, Zhujie acknowledged that consumer’s look for a device with great gaming capabilities such as what they’d be getting on the Y9a. the device has slimmer bezels and an impressive popup selfie camera that will delight users. Since there isn’t a selfie camera cutout, the device is able to achieve a 92 percent screen-to-body ratio. More details on the device from our previous editorial.

Safaricom and NCBA differ on reducing interest rates charged on M-Shwari mobile loans

Tuvuti Editorial Team
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Safaricom and NCBA differ on reducing interest rates charged on M-Shwari mobile loans

Safaricom and NCBA have differed on cutting down interest rates charged on M-Shwari mobile loans. This comes after Kenya’s regular – the Central bank outlined measures intended to curb digital lenders who impose unrealistic monthly loan rates that have so far led most Kenyans into debt traps and several default especially during the pandemic era.

NCBA owns the M-Shwari loan facility available within the MPESA menu and currently charges customers a 7.5 percent interest on loans. According to the lender, there are currently no plans to reduce the rates, adding that, its main objective at the moment is making the facility as competitive as similar products on the market.

This comes as a contrast to Safaricom’s recent statement aimed at making M-Shwari loans more affordable to its subscribers. The mobile service provider intents to add more features on the MPESA platform including insurance as well as wealth management.

According to an interview between businessdaily and NCBA group managing director John Gachora, the lender never indicated plans to cutting down M-Shwari loan rates. Gachora further distances the financial institution from comments made by Safaricom affirming there haven’t been any plans in that respect.

Safaricom’s intention to lower M-Shwari and Fuliza rates came at a time when there has been a surge in unregulated digital lenders that have left most Kenyans in huge depts occasioned by high interest rates. The mobile service provider had earlier stated they wanted to bring down cost of loans on its platform and was working towards the same.

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