Author: Koech K. Philip

Koech K. Philip. Is a Writer, Researcher, Pop Culture Fanatic and Christian Lifestyle Blogger. He is known for his detailed documentation of the journey of different public figures in both Christian and the Secular World. Email: [email protected] (+254)701 622 639.

I’m Dru! Drops New Song “Name Rings Bells” and Talks Staying True to His Message

I’m Dru!, a pop-rap artist, who has released a new single called “Name Rings Bells” that speaks about proving naysayers wrong. The song is an ode to people who didn’t believe in him, including those who disliked him online or girls he liked in high school. However, he has always known he could change their … Continue reading I’m Dru! Drops New Song “Name Rings Bells” and Talks Staying True to His Message
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Today the rising genre-defying songstress LÉA THE LEOX released her debut EP PURPOSE via Genius Distro on all streaming platforms and is available in Dolby Atmos® on Apple Music, TIDAL, and Amazon Music. Produced by ObieIII, PURPOSE brings true genre-busting artistry back to the forefront. Throughout the six-track project, LÉA’s silky tone and luscious harmonies are reminiscent of Yebba and … Continue reading LÉA THE LEOX Releases New EP “PURPOSE”
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Arc’Teryx System_A Readies Durable Climbing Essentials Capsule

Established in 2021, Arc’Teryx’s System_A line builds limited-edition capsules of mountain-ready designs, inclusive of climb, snow and trail, under the governance of senior design director Taka Kasuga. On Wednesday, the sub-label revealed its fifth-ever drop, titled “The Creative Approach,” featuring a slew of “hike to climb” ensembles spanning three tenants: stretch, storage and comfort. Stocked … Continue reading Arc’Teryx System_A Readies Durable Climbing Essentials Capsule
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‘DEEP’ by Over Certified AKA OC ™️

Over Certified AKA OC’s™️ new song “Deep” is a powerful and emotional ballad that showcases his incredible vocal range. The song opens with a soft, acoustic guitar melody that sets the tone for the rest of the track. OC’s™️ vocals are smooth and soulful, and he delivers the lyrics with passion and conviction. The song … Continue reading ‘DEEP’ by Over Certified AKA OC ™️
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Foreign Banks compete for control in East Africa’s lucrative retail banking market

  • International banks are increasingly shifting their focus towards the retail market in East Africa, aiming to boost revenues and defend market share.
  • Kenya’s Kenya Commercial Bank and Equity Bank have experienced a combined increase in value to nearly Ksh1 trillion ($7.3 billion) in the retail market.
  • Banks are eyeing Africa’s mass market as the next major growth area, according to a McKinsey & Company report. 

The retail market in East Africa has been dubbed the new frontier for money-making by lenders looking to boost revenues and defend market share, and as a result, foreign banks have been brought into the conflict for control of the industry.

Foreign multinational banking behemoths that traditionally thrived on doing business with huge corporations and high-net-worth individuals are progressively changing their operating methods to benefit the hitherto ignored and neglected small enterprises and individual consumers.

Due to growing client bases and loan books, Kenya’s Kenya Commercial Bank and Equity Bank saw their combined value increase to almost Ksh1 trillion ($7.3 billion) in this market, as seen in The East African, a news publication centered around news in East Africa.

‘High volume, poor margin’ activities aimed at the low-income portion of the population are the strategy that has increased non-funded earnings for local banks.

According to a 2018 McKinsey&Company report, banks in Africa’s mass market would be their next major development area.

However, according to a research titled “Roaring to Life: Growth and Innovation in African retail banking,” how quickly retail banking penetration rises in Africa over the coming years will rely on how daring banks are in innovating. According to the report, the middle segments, which are those with yearly incomes between $6,000 and $36,000, would account for 70% of the expansion in Africa’s retail banking revenue pools through 2025.

Nigeria’s Access Bank Plc and Egypt’s Commercial International Bank are two other international competitors eyeing the local retail banking industry.

The CEO of Equity Group, James Mwangi, predicted last year that while the new generation of banks may focus more on transactions, inclusive mass banking will be the key to their success.

“Mass banks will provide inclusive services, with proper customer segmentation and delivering specific services to these segments rather than focusing exclusively on a niche within a segment,” he said.

In 2020, after purchasing Kenya’s Transnational Bank with an eye toward the region’s retail market, Access Bank Plc, Nigeria’s largest retail bank doubled its stake in its Rwandan affiliate.

On the other side, Commercial International Bank (CIB), Egypt’s largest private sector bank by assets, entirely bought Kenyan Mayfair Bank in 2020, marking the continent’s first takeover. CIB saw the merger as a stepping stone to the rest of Africa, particularly East Africa.

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Dream Ear Productions ft. Mistah F.A.B. & Too $hort – West Side (Lyric Video/iTunes/Spotify)

Bay Area, California beatsmith Dream Ear presents WEST SIDE, his new single featuring Northern California emcees Mistah F.A.B. & Too $hort The producer and songwriter born DeShawn Davis is the owner and operator of Dream Ear Productions, which released its debut instrumental album, ‘The Stuff That Dreams Are Made Of 1.0‘ in 2020. Mistah F.A.B.…

The post Dream Ear Productions ft. Mistah F.A.B. & Too $hort – West Side (Lyric Video/iTunes/Spotify) appeared first on URBAN VAULT UK.

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DRC falls out with the World Bank at the cost of $1 billion

  • The World Bank has halted funding for humanitarian and development projects in the Democratic Republic of Congo (DRC) after the government liquidated the project fund. 
  • However, the World Bank was still awaiting paperwork on the progress of the projects before committing further funds. 
  • The abrupt decision to alter the financing structure and liquidate the project fundraises concerns about weak governance in the DRC. 

The World Bank has halted funding for more than $1 billion in humanitarian and development projects in the Democratic Republic of Congo after the government abruptly liquidated the project fund. As part of the $1.04 billion total, $91 million had already been granted for the projects, according to the letter, but the bank was still awaiting paperwork on their progress.

The change was due to “the evolution of the legal framework governing public institutions,” according to his statement. Albert Zeufack, the country’s head of operations for the World Bank, stated in a letter dated May 12 that the organization had learned about the choice through the media.

“Before being able to continue to commit the project funds, the government and the World Bank should agree on transitional measures… in order to ensure that the funds are used for the intended purposes,” he said via the letter.

A spokesman for the Congo’s finance ministry stated that he was awaiting approval from the president before making a statement.

Speaking on behalf of the administration, Tina Salama said there would be transitional management of the fund and ruled out any funding suspension. “I think arrangements have been made,” she said. She did not respond to questions about the $91 million.

According to Valery Madianga, the head of a Congolese organization that specializes in public finance auditing, the hasty decision to alter the financing structure is an example of weak governance.

“How can it be … that a public service, which signed a $1 billion program contract with the World Bank, has been dissolved or has changed its social purpose without the latter being aware of it?” he said.

In a letter sent last week, four of Congo’s leading opposition MPs asked the heads of the World Bank, the African Development Bank, and the International Monetary Fund to examine their finances there because they suspected misappropriation.

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