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Safaricom Shareholders Approve Ksh56.9 Billion Dividends Payout

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Nairobi Securities Exchange (NSE) listed company Safaricom PLC will disburse a total of KES56.09 billion to its shareholders as dividends.

The money will be paid out to shareholders with the Government of Kenya expected to receive KES19.63 billion.

During the 12th Annual General Meeting which was held virtually, the shareholders approved the dividend payout of KES 1.40 per share, up from KES 1.25 paid in 2019, for the Financial Year Ending March 31, 2020.

The disbursement, which is equivalent to 80 percent of its normalized earnings, is a 12% increase from last year.

In 2019, the company issued a special dividend of KES0.62per share bringing the total dividend issued to shareholders of KES 1.87, amounting to KES74.92 billion.

“As a purpose-driven business, Safaricom has been prioritizing support to Small and Medium-Sized Enterprises. We hope that the dividends they receive as shareholders will give the much-needed boost for their businesses during this difficult COVID-19 pandemic period even as we come up with ways to ensure we support them post COVID-19,” said the outgoing Safaricom Board chairman Mr. Nicholas Ngan

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Business

Equity Upgrades Banking App

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Equity has updated its mobile banking application, Eazzy Banking App, to enhance its capabilities, user experience, and security features to improve customer experience and support lifestyles.

The newly released version comes with enhanced features for both iOS and Android devises, to ensure customers enjoy the digital banking experience.

The App now has an enhanced security feature that allows customers to login using fingerprint biometrics on their mobile devices.

Furthermore, customers will receive a one-time verification code sent to their registered mobile number for every transaction they initiate giving them an added layer of security when using the App.

 The lender has concentrated its efforts on making the Eazzy Banking App more functional based on customers preferences that they have observed overtime.

Customers will be able to access convenient, affordable, and relevant loan products through the app.

In addition to normal installment loans, customers can borrow loans to purchase water tanks, borehole drilling, or smartphone loans to purchase their preferred mobile phone from phone dealers across the country.

The upgraded app will give customers more convenience to send and receive money, apply for loans as well as manage their finances especially at this time when access to traditional banking avenues has been curtailed by the Covid-19 pandemic.

The new feature has also been embedded to allow new customers to open accounts instantly via the app, while only using their national identification number; allowing them to transact, save and borrow through the platform without having to visit a physical branch or doing any paperwork.

Customers with foreign currency accounts will also be able to transact to and from their accounts using the Eazzy Banking platform.

Overall, customer ability to navigate the platform and perform a wider array of transactions ranging from paying utilities, PIN reset, transferring funds across accounts and banks, and making e-commerce transactions among other capabilities, has been simplified.

Billers and merchants have been categorized according to the most popular and the favourites. This simplifies the identification of billers of choice and and facilitates last mile retail digital payments.

The upgraded App also comes with a scan to pay option, using mVisa and QR codes. Customers are able to use this as a payment option at any Equity merchant location countrywide.

Currently, Eazzy Banking App has over 1 million downloads. The app has the capability of performing 300 million transactions every second.

The bank’s fintech and innovation strategy continues to drive digital payments and transfers through Eazzy Banking. As of March 2020, the App’s transaction numbers rose by 25%, to 88.2 million from 70.5 million in the same period last year.

Additionally, the value of transactions on the App was Kshs 43.3 Billion in the first quarter of 2020 compared to Kshs 38 billion in the same period last year, representing a 14% rise.

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LG ThinQ technology Features

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LG’s ThinQ technology focuses on below elements:

Ease-of-Use

LG ThinQ-equipped integrated products can be monitored and operated via the simple use of a smartphone app. Elevating convenience a step further, LG’s advanced OLED and NanoCell AI ThinQ TVs also features natural language processing, enabling voice-activated control via the Magic Remote.

Personalization

LG ThinQ is designed to work in sync with each user in the household, who may use the same devices in different ways. LG InstaView can be programmed to align with the home’s daily rhythm by recognizing peak use periods and adjusting for optimal cooling.

Efficiency

LG InstaView can monitor usage patterns and automatically run in save mode during hours less frequently used for optimal energy consumption.

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LG ThinQ Experience Launched at Sarit Centre

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Nairobi, August 05, 2020 – LG Electronics has launched its LG ThinQ Experience Zone in Kenya, designed to let visitors experience its artificially intelligent products, at the Sarit Centre.

The ThinQ Zone located in the recently re-launched Hotpoint’s largest retail store will be the first of its kind, giving consumers the exclusive opportunity to witness firsthand information on how the company is enabling the smart, premium lifestyle experience.

This will be the first of the experience zones for LG ThinQ to be set up in East Africa.

The LG ThinQ zone is located at the Hotpoint shop on the ground floor of the Sarit Centre and it will feature LG’s latest premium product lineup equipped with ThinQ technology which includes OLED TVs, the recently launched NanoCell TVs, the AI DD Washing Machine, InstaView Refrigerators, DualCool Floor Standing Air Conditioners among other home appliances.

The facilities will be used to further bolster the company’s Artificial Intelligence footprint in the country, with the firm set to work closely with their esteemed trade partners in a way of developing and communicating their state of the art AI-powered technologies.

The underpinning smart home ecosystem is the LG ThinQ technology, which integrates appliances and electronics with AI and deep learning algorithms to deliver a more intuitive experience for users.

With the LG ThinQ Experience Zone, the company aims to raise awareness of how a smart home ecosystem can be built and tailored to the needs of the individual.

LG Electronics plans to expand the LG ThinQ Experience Zone to other towns in the country as well as in the East Africa region.

Speaking at the event, LG’s Marketing Manager, Mr. Haewoong Im said: “LG continues to pursue innovation to improve home living and we are now excited to be bringing that same passion and technology leadership in Kenya as we continue to enhance the shopping experience and comfort of Kenyan consumers.”

“AI is the next frontier in technological evolution and as leaders in home appliances and consumer electronics, we have a responsibility to make AI more approachable in order to improve their quality of life for homeowners,” added Mr. Kim.

LG’s ThinQ technology focuses below elements:

Ease-of-Use

LG ThinQ-equipped integrated products can be monitored and operated via the simple use of a smartphone app. Elevating convenience a step further, LG’s advanced OLED and NanoCell AI ThinQ TVs also features natural language processing, enabling voice-activated control via the Magic Remote.

Personalization

LG ThinQ is designed to work in sync with each user in the household, who may use the same devices in different ways. LG InstaView can be programmed to align with the home’s daily rhythm by recognizing peak use periods and adjusting for optimal cooling.

Efficiency

LG InstaView can monitor usage patterns and automatically run in save mode during hours less frequently used for optimal energy consumption.

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