Grey, a cross-border payments solutions provider, has launched expanded business banking services including USD accounts, bulk payments, and USDC stablecoin support to streamline international transactions for African businesses.

• The new features aim to reduce the significant fees (6–7%) and multi-day settlement times typically associated with international transfers.
• Key individuals involved are Co-founder and Chief Executive Officer Idorenyin Obong and Chief Operating Officer and Co-founder Joseph Femi Aghedo.
• This expansion enables businesses to open USD corporate accounts, receive international payments, make payouts to over 170 countries, and process bulk payments rapidly.

Mogo Kenya has secured a significant funding boost of Sh2.3 billion from both local debt financing and an innovative bond program to expand its asset financing for boda boda operators and SMEs across Kenya.

• Raised Sh800 million in local debt from I&M Bank and Ecobank, plus launched a Sh1.5 billion bond program.
• The capital will scale financing for motorcycles, cars, and smartphones, particularly benefiting owners in the informal transport sector.
• This expansion is driven by the growing economic importance of the boda boda sector, which generates an estimated Sh660 billion annually.

SanlamAllianz Life Insurance Kenya has launched a new Income Drawdown (IDD) Fund to provide Kenyan retirees with flexible income options and continued investment growth for their savings.

• The fund aims to address concerns that many retirees exhaust lump-sum pension withdrawals within three years.
• Key features include flexible monthly, quarterly, or annual withdrawals (capped at 12% annually), a guaranteed minimum return of 5%, and market-linked growth with a 15% net return in 2024.
• Jacqueline Karasha, CEO of SanlamAllianz Life Insurance, highlighted that the fund allows savings to continue growing while retirees receive regular income.