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Airtel scraps expiry dates on data, voice as subscriber numbers continue to grow

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The scrap comes at the back of a Communications Authority report revealing that Airtel subscribers are on the rise. The telco increased its subscribers by 3.1 million to 12.8 million in the full year to June 2019, with its market share climbing to 24.6 percent, its highest ever/COURTESY

, NAIROBI, Kenya, Dec 9 – Airtel Kenya has launched no expiry data and call rates that will allow customers to spend as low as 1 bob for 5MB data and to make calls at 2bob across all networks.

According to the telco, the move demonstrates Airtel’s commitment to offer quality products and services whilst firmly establishing its position in the market as the company that offers great value for money.

At the same time, the company also revamped its entire Amazing data bundle offerings to give more data for the same cost as before e.g. 3GB for Sh300 up from 1.5GB, 5GB for Sh500 up from 4GB and 12GB for Sh1000 up from 10GB with 30days validity.

The new offerings are targeted towards customers who are looking to meet their communication needs with ease and not worry about any hidden costs or conditions. To active the new rates, customers need to dial *544*2#.

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The new products campaign dubbed ‘BeSureNaAirtel’ is pegged on showing customers the exact rates and value they get for their investment. The new offers have no hidden charges or conditions for use; thus, customers are assured of getting what they pay for at the most competitive rates.

Speaking at the launch event, Airtel’s Managing Director, Prasanta Das Sarma said, “We are pleased to introduce the industry’s best no expiry rates for data and voice to all our customers. We have also revamped our Amazing data bundles to cater for our heavy data users, by offering up to 100 percent more data. These new offerings are based on emerging consumer insights and trends that show a substantial increase in data usage for both social and business needs as well as the need for customers to not worry about the cost of data while browsing.”  

He expressed his confidence that the new rates and revamped bundles will meet all the communication needs of Airtel’s customers even with as low airtime balance as Sh1.

Sarma added that the telco will continue to invest in the business to bring more innovative products and services and enhance its network coverage. 

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World Bank pushes G-20 to extend debt relief to 2021

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World Bank Group President David Malpass has urged the Group of 20 rich countries to extend the time frame of the Debt Service Suspension Initiative(DSSI) through the end of 2021, calling it one of the key factors in strengthening global recovery.

“I urge you to extend the time frame of the DSSI through the end of 2021 and commit to giving the initiative as broad a scope as possible,” said Malpass.

He made these remarks at last week’s virtual G20 Finance Ministers and Central Bank Governors Meeting.

The World Bank Chief said the COVID-19 pandemic has triggered the deepest global recession in decades and what may turn out to be one of the most unequal in terms of impact.

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People in developing countries are particularly hard hit by capital outflows, declines in remittances, the collapse of informal labor markets, and social safety nets that are much less robust than in the advanced economies.

For the poorest countries, poverty is rising rapidly, median incomes are falling and growth is deeply negative.

Debt burdens, already unsustainable for many countries, are rising to crisis levels.

“The situation in developing countries is increasingly desperate. Time is short. We need to take action quickly on debt suspension, debt reduction, debt resolution mechanisms and debt transparency,” said Malpass.

ALSO READ:Global Economy Plunges into Worst Recession – World Bank

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Kenya’s Central Bank Drafts New Laws to Regulate Non-Bank Digital Loans

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The Central Bank of Kenya (CBK) will regulate interest rates charged on mobile loans by digital lending platforms if amendments on the Central bank of Kenya Act pass to law. The amendments will require digital lenders to seek approval from CBK before launching new products or changing interest rates on loans among other charges, just like commercial banks.

“The principal objective of this bill is to amend the Central bank of Kenya Act to regulate the conduct of providers of digital financial products and services,” reads a notice on the bill. “CBK will have an obligation of ensuring that there is fair and non-discriminatory marketplace access to credit.”

According to Business Daily, the legislation will also enable the Central Bank to monitor non-performing loans, capping the limit at not twice the amount of the defaulted loan while protecting consumers from predatory lending by digital loan platforms.

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Tighter Reins on Platforms for Mobile Loans

The legislation will boost efforts to protect customers, building upon a previous gazette notice that blocked lenders from blacklisting non-performing loans below Ksh 1000. The CBK also withdrew submissions of unregulated mobile loan platforms into Credit Reference Bureau. The withdrawal came after complaints of misuse over data in the Credit Information Sharing (CIS) System available for lenders.

Last year, Kenya had over 49 platforms providing mobile loans, taking advantage of regulation gaps to charge obscene rates as high as 150% a year. While most platforms allow borrowers to prepay within a month, creditors still pay the full amount plus interest.

Amendments in the CBK Act will help shield consumers from high-interest rates as well as offer transparency on terms of digital loans.

SEE ALSO: Central Bank Unveils Measures to Tame Unregulated Digital Lenders

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Scope Markets Kenya customers to have instant access to global financial markets

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NAIROBI, Kenya, Jul 20 – Clients trading through the Scope Markets Kenya trading platform will get instant access to global financial markets and wider investment options. 

This follows the launch of a new Scope Markets app, available on both the Google PlayStore and IOS Apple Store.

The Scope Markets app offers clients over 500 investment opportunities across global financial markets.

The Scope Markets app has a brand new user interface that is very user friendly, following feedback from customers.

The application offers real-time quotes; newsfeeds; research facilities, and a chat feature which enables a customer to make direct contact with the Customer Service Team during trading days (Monday to Friday).

The platform also offers an enhanced client interface including catering for those who trade at night.

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The client will get instant access to several asset classes in the global financial markets including; Single Stocks CFDs (US, UK, EU) such as Facebook, Amazon, Apple, Netflix and Google, BP, Carrefour;  Indices (Nasdaq, FTSE UK), Metals (Gold, Silver); Currencies (60+ Pairs), Commodities (Oil, Natural Gas).

The launch is part of Scope Markets Kenya strategy of enriching the customer experience while offering clients access to global trading opportunities.

Scope Markets Kenya CEO, Kevin Ng’ang’a observed, “the Sope Markets app is very easy to use especially when executing trades. Customers are at the heart of everything we do. We designed the Scope Markets app with the customer experience in mind as we seek to respond to feedback from our customers.”

He added that enhancing the client experience builds upon the robust trading platform, Meta Trader 5, unveiled in 2019, enabling Scope Markets Kenya to broaden the asset classes available on the trading platform.

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