The Postal Corporation of Kenya (PCK) has signed a partnership agreement with Viewtech, the company behind SasaPay, to offer mobile money transfer services through its electronic payment system dubbed PostaPay.

Viewtech will provide PCK with Wallet as a service (WaaS) that will now provide money transfer services including disbursements, collections and sending of money from individual to individual for collection at the Post Office.

“Under the agreement, Posta will be an agent of Viewtech Ltd, offering deposit, withdrawal, registration and verification services on PostaPay at a commission,” said Dan Kagwe, the CEO and Postmaster General of Postal Corporation of Kenya.

Kagwe, speaking on Friday at a Nairobi hotel, said that the new and revamped PostaPay app will now be available on Google Play Store as Posta Kenya moves to respond to the fast-changing consumer needs in adaptation of new technologies.

The signing of this partnership with Posta Kenya will see the corporation offer mobile money transfer services to Kenyans at convenient and affordable rates. SasaPay is one of the payment services providers licensed and regulated by the Central Bank of Kenya.

“The application will offer peer-to-peer transactions; these are electronic money transfers made from one person to another through intermediaries. There will also be business to customer disbursements and customer to business disbursements as well,” said Stephen Kaguchia, the Managing Director, Viewtech Limited.  Day

The new revamped application was unveiled during the 147th World Post themed “Post for Planet” where the corporation also unveiled the Dugong commemorative stamp to sensitize the public on the need to protect the marine mammal that has been classified as rare under the Wildlife Conservation and Management Act.

“The era of disbursing money physically is over; with this partnership you will be assured seamless connectivity across different platforms including financial institutions and retail outlets among others,” added Kagwe. The application allows for payment of goods and services and transfer of money in a convenient way.

At a business and corporate, Kagwe noted, the corporation would now be able to offer government and county disbursements and revenue collection services, loan disbursement for microfinance institutions and saccos; disbursement of government stipends, individual statutory remittances such as NHIF and NSSF at affordable rates.

“PostaPay will offer competitive transactional costs and real time visibility of revenue collection. It is our strategic intent to position Posta Kenya as the preferred payments partner for Government to People payments (G2P) and People to Government payments at affordable rates,” said Kagwe.

The corporation is looking to tap into the unbanked and underserved citizenry in the rural areas, with an aim of playing a key role in the expansion of financial inclusion while at the same time bridging the digital divide.

By Joseph Ng’ang’a

In the realm of global finance, international remittances play a pivotal role in facilitating the flow of money across borders. These transactions, typically initiated by migrant workers sending money to their families back home, have long been characterized by challenges such as high fees, slow transaction speeds, and exchange rate fluctuations. However, the emergence of digital currencies is reshaping the landscape of international remittances. You have to check out https://yuanpaygroup.site/ if you are a true Digital Yuan lover. This resource will help you get on the roadto investment education!

Understanding Digital Yuan

What is the Digital Yuan (e-CNY)?

The Digital Yuan, or e-CNY, is a digital currency developed and issued by the People’s Bank of China (PBOC). It represents the official digital currency of China and is designed to operate alongside physical cash. Unlike cryptocurrencies like Bitcoin or Ethereum, the Digital Yuan is a central bank digital currency (CBDC), making it a controlled and regulated form of digital money.

Key features of the Digital Yuan include its issuance and regulation by a central authority, its stability in value as it is pegged to the Chinese yuan, and its compatibility with existing financial systems.

How does it differ from traditional cryptocurrencies like Bitcoin?

While the Digital Yuan shares some similarities with cryptocurrencies like Bitcoin, it is fundamentally different in several ways:

• Centralization: Unlike Bitcoin, which operates on a decentralized blockchain network, the Digital Yuan is controlled and regulated by the Chinese government through the People’s Bank of China.
• Stability: The value of the Digital Yuan is stable, as it is pegged to the Chinese yuan. In contrast, cryptocurrencies like Bitcoin are known for their price volatility.
• Legal Tender: The Digital Yuan is recognized as legal tender in China, meaning it is an official form of payment, while cryptocurrencies are not typically accepted as legal tender in most countries.

The Role of Digital Yuan in International Remittances

Traditional challenges in cross-border money transfers

International remittances have historically faced several challenges:

High fees and exchange rate fluctuations: Traditional money transfer methods, such as bank wires and remittance services, often involve substantial fees and unfavorable exchange rates, reducing the amount received by the recipient.

Slow transaction speeds and limited accessibility: Cross-border transfers can take days to complete, and not all individuals in developing countries have access to formal banking services.

How does Digital Yuan address these challenges?

The Digital Yuan offers potential solutions to these challenges:

• Low-cost transactions: Digital Yuan transactions can be executed at a lower cost compared to traditional international money transfer services, reducing the financial burden on both senders and recipients.
• Instantaneous settlement: Digital Yuan transactions occur in real-time, allowing for immediate access to funds, even across international borders, overcoming the delays associated with traditional remittance methods.
• Increased financial inclusion: The Digital Yuan has the potential to provide financial services to unbanked and underbanked populations, as all that is required is a smartphone with an internet connection.

Adoption and Integration of Digital Yuan

Pilot programs and early adopters

China has been actively testing the use of the Digital Yuan through pilot programs in various cities. These trials have involved a wide range of use cases, from salary payments to retail transactions, to gain insights and improve the system’s functionality.

Partnerships with global financial institutions

As the Digital Yuan gains traction, several countries and international organizations have shown interest in exploring collaborations with China in adopting this digital currency. These partnerships could potentially reshape the landscape of international remittances.

Potential hurdles and regulatory considerations

While the Digital Yuan holds promise, its global adoption faces potential hurdles, including concerns about privacy and surveillance, the risk of centralization and government control, and geopolitical implications related to the currency’s use on the international stage.

Advantages and Benefits

Enhanced security and transparency

Transactions with the Digital Yuan benefit from enhanced security and transparency, as each transaction is recorded on the blockchain, providing an immutable ledger of all financial activity. This reduces the risk of fraud and enhances trust in the financial system.

Potential cost savings for remittance senders and recipients

Lower transaction fees and favorable exchange rates associated with the Digital Yuan can result in significant cost savings for both those sending and receiving remittances.

Impact on the global remittance market

The introduction of the Digital Yuan could disrupt the traditional remittance market, potentially reducing the market share of established players like banks and remittance service providers. This disruption could lead to increased competition and innovation in the industry.

Risks and Concerns

Privacy and surveillance concerns

The use of a central bank-controlled digital currency raises concerns about privacy and surveillance, as the government can potentially monitor and track all transactions. This may lead to worries about the erosion of personal financial privacy.

Potential for centralization and government control

The centralized nature of the Digital Yuan puts significant control in the hands of the Chinese government, raising questions about how this could impact the currency’s use on the global stage and its susceptibility to political pressures.

Geopolitical implications

The global adoption of the Digital Yuan could have geopolitical implications, potentially challenging the dominance of the U.S. dollar as the world’s primary reserve currency and shifting the balance of economic power.

Future Outlook

The role of Digital Yuan in reshaping the international financial system

As the Digital Yuan continues to gain momentum, it has the potential to play a significant role in redefining the international financial system, with implications for trade, finance, and geopolitics.

Potential competition with other digital currencies

The emergence of the Digital Yuan may lead to competition with other CBDCs and cryptocurrencies, potentially diversifying the options available for international remittances.

Predictions for the evolution of international remittances in the digital age

The adoption of digital currencies like the Digital Yuan is expected to drive innovation and efficiency in international remittances, benefitting both senders and recipients. However, it will also raise critical questions about privacy, control, and governance.

Conclusion

In conclusion, the Digital Yuan is poised to revolutionize international remittances by addressing long-standing challenges such as high fees, slow transaction speeds, and exchange rate fluctuations. While it offers numerous advantages, including enhanced security and cost savings, it also raises concerns related to privacy, government control, and geopolitical implications. As the world continues to adapt to the digital age, the impact of the Digital Yuan on the global financial system and international remittances remains a topic of significant interest and debate.

Introduction

In the world of online trading, Ethereum has emerged as a game-changer, enabling a new wave of possibilities for investors and traders. With its decentralized nature and smart contract capabilities, Ethereum has paved the way for a revolutionary approach to online platform trading. This article explores the transformative power of Ethereum and how platforms are harnessing its potential to reshape the landscape of digital transactions. For the latest and most intriguing news on cryptocurrency, be sure to check the best online broker UK and delve deeper into the world of digital assets.

Ethereum’s Groundbreaking Technology

Ethereum, a blockchain-based platform, goes beyond the capabilities of Bitcoin by allowing the creation of decentralized applications (DApps) through smart contracts. This innovative technology enables developers to build and deploy applications without the need for intermediaries, bringing forth a level of trust and transparency that was previously unattainable in traditional online platform trading.

Decentralization: Redefining Trust

One of the key features that sets Ethereum apart is its decentralized nature. Traditional online trading platforms often rely on intermediaries, leading to potential vulnerabilities and the risk of fraud. Ethereum eliminates these concerns by leveraging a network of nodes that work together to validate transactions and maintain the integrity of the blockchain. This decentralized approach ensures that transactions on Ethereum are secure and transparent, empowering users to trade with confidence.

Smart Contracts: Automating Transactions

Smart contracts are self-executing contracts with the terms of the agreement directly written into the code. These contracts are deployed on the Ethereum blockchain and automatically execute predefined actions when certain conditions are met. The introduction of smart contracts revolutionizes online platform trading by eliminating the need for intermediaries and automating the execution of transactions. This efficiency not only reduces costs but also minimizes the risk of human error, making the process more reliable and streamlined.

Enhanced Security and Privacy

Ethereum’s enhanced security and privacy features to provide users with a secure environment for their transactions. By utilizing Ethereum’s blockchain, it ensures that user data and transaction information remain encrypted and protected from potential breaches. This heightened level of security instills confidence in traders, encouraging greater participation in the platform.

Global Accessibility and Inclusion

Ethereum’s decentralized network transcends geographical boundaries, opening up online trading to a global audience. With traditional platforms, individuals in certain regions may face limitations due to regulatory restrictions or lack of access to banking infrastructure. However, Ethereum-powered platforms offer a more inclusive environment, enabling anyone with an internet connection to participate in online trading, thereby democratizing financial opportunities.

Tokenization: Expanding Asset Classes

Through Ethereum’s tokenization capabilities, the range of tradable assets expands significantly. Traditional platforms typically restrict trading to conventional financial instruments such as stocks, bonds, and commodities. However, Ethereum’s smart contract technology allows for the creation of unique tokens representing real-world assets, such as real estate, art, or even intellectual property. This tokenization process provides individuals with access to a broader range of investment opportunities, fostering financial innovation.

Efficiency and Scalability

Ethereum’s ongoing development includes updates such as Ethereum 2.0, aimed at improving scalability and transaction throughput. These enhancements are crucial for online platform trading, as high transaction volumes can often lead to delays and congestion. By increasing efficiency and scalability, Ethereum paves the way for a seamless trading experience on platforms, where traders can execute transactions swiftly and without disruption.

Regulatory Challenges and Adoption

While Ethereum and decentralized platforms offer numerous benefits, they also pose regulatory challenges. As governments grapple with the emergence of cryptocurrencies and blockchain technology, regulatory frameworks are being developed to ensure compliance and protect investors. Platforms recognize the importance of adhering to regulatory guidelines to foster trust and credibility in the industry, while also promoting innovation within the bounds of the law.

Conclusion

Ethereum’s impact on online platform trading is transformative, revolutionizing the way transactions are conducted, and assets are traded. Through its decentralized nature, smart contracts, enhanced security, and global accessibility, Ethereum unlocks the potential for a more inclusive and efficient trading environment. Platforms harness Ethereum’s power, providing traders with a secure and innovative platform to explore the world of online trading. As Ethereum continues to evolve, it holds the promise of reshaping the financial landscape and unlocking new opportunities for investors around the globe.

In the market of Cryptocurrency, investors are gathering higher rates. These digital assets offer more returns than other traditional assets. For this, the users are choosing digital assets over other assets like land or gold. But, the exchanges charge at least some amount of fees for transferring or dealing with Cryptocurrencies. Bitsoftware360.com is a fantastic option if you’re a beginner and searching for the best crypto platform.

Due to the existence of high transaction charges, many people avert from entering the Crypto market. It cuts down the chances of the Cryptocurrency industry from reaching its full potential. But the major question here arises is whether these transaction charges can be cut down as a whole or not!
High Rising Charges

With the ongoing Bullish trend, the transaction fees of all the exchanges are rising beyond anything! In the case of Ethereum’s network, the fees went so high that it was around 198.638 USD in May. Due to this, it became impossible for many people to trade Crypto here regularly.

This case matches that of Bitcoin’s network. Last year, BTC Blockchain went through the same phase. Its transaction charges rose to around 300.331 USD. And, in the case of PoW protocol, the network faces congestion quite often when demand rises. This leads the miners to focus on the transactions that provide higher fees.
Problems That This Situation Causes

This entire situation of higher fees in exchanges leads to a halt in daily transactions. This situation cuts down the usage of the basic feature of any Blockchain network, which is peer-to-peer transfers. When a simple transfer between two parties consumes a higher amount of fees, they will better not do it. They will find it reasonable to rather leave that network for any transfers.

It is very common to the heavyweights of the Cryptocurrency industry. Also, this summer, Vitalik Buterin who is the co-founder of the Ethereum network made a statement on this. He said that the number of single transaction charges is similar to that of their daily wage. And this is the case for developing economies.

Before this merge, the charges were pretty lower in the Ethereum network. It was around 1-20 USD and this is higher too for many people! Because an average person in Mongolia earns around 16 USD, and in Zambia 4 USD daily. In this case, the Crypto community in these nations can’t trade anymore due to rising fees.
Steps For Reducing The Rise Of Fees

With the advent of the bear market, the aims shifted to operational improvements in the networks. With this, the developers are working towards cutting off the costs as well. If they can achieve this aim, the Cryptocurrency industry will be able to achieve its true potential.

Experts are putting forward some solutions that will help get back lower rates. Some fresh solutions include rollups, where all the transactions are merged to be outside Layer 1. This system will be cheaper and faster as well.

Also, the developers are working on data compression techniques too. With this, the transaction will take place in a lesser space. And, when these are joined with aspects like sharding, the results will be more fruitful.

The trading outlets play an important role as it directly impacts the Cryptocurrency community. If they can facilitate transfers for free, it will uplift the overall consumer experience. There will be more engagement on these platforms and they will be able to transfer without any second thought.
Making Things Turn True

Many platforms are working their parts to make zero fees possible. HitBTC is among the top exchanges that are working to make transactions occur with zero fees. Here, you will get a wallet that is easy to use and intuitive too. This wallet can function both on iOS and Android devices.

On this platform, you can send Cryptocurrency to anyone at zero charges. You will have an account too via which the transfers will be possible. If this system becomes universal, then the entire Cryptocurrency community will face a big positive impact. Everyone will be able to access the benefits of the Crypto industry while saving more.
Conclusion

There is a long discussion or battle against the concept of charging fees for Crypto transfers. If the platforms charge zero-fine on the transfers, the Crypto industry will find it easy to reach its potential.

The fusion of the dynamic world of cryptocurrencies with binary options trading has carved out an intriguing niche in the realm of finance. Known for their inherent volatility, cryptocurrencies provide traders with ample opportunities to exploit significant price shifts. When integrated with binary options the implications of these price swings become even more pronounced. 

Central to these price fluctuations is news associated with cryptocurrencies. This article delivers you binary options trading knowledge from experts on how crypto news influences binary options predictions. You’ll also find out how you can craft strategies anchored on these news events. 

The Ripple Effect of Crypto News on Market Predictions

Sensitivity of Prices to News

Cryptocurrencies, given their nascent stage, exhibit remarkable sensitivity to news. In stark contrast to established markets that have been conditioned over decades to absorb and respond to news, the crypto realm is still in its formative years. 

A seemingly innocuous piece of news can trigger significant price gyrations. For example, any regulatory whisperings from economic giants like the U.S. or China can set off a domino effect throughout the crypto sphere, influencing a broad spectrum of digital coins and tokens.

Rapid Information Dissemination

The essence of cryptocurrencies is digital, leading to the lightning-fast spread of information. News, whether rooted in fact or hearsay, circulates at breakneck speeds. 

Speculations about potential regulatory crackdowns, technological innovations, or endorsements from industry stalwarts (recall the market frenzy following Elon Musk’s tweets) can incite instantaneous market reactions. In the high-stakes arena of binary options, where judgments are frequently rendered within split seconds, having one’s finger on the pulse of real-time news becomes non-negotiable.

Evaluating the Impact

Certain news elements carry more weight than others. Events such as breaches in crypto exchanges, endorsements from high-profile personalities, shifts in regulatory landscapes, or pivotal technological breakthroughs (e.g., significant upgrades in the foundational protocols of Bitcoin or Ethereum) can catalyze dramatic price movements. 

Such watershed moments present golden opportunities for traders, enabling them to base their binary options predictions on projected market responses.

Strategies for Capitalizing on News-Driven Events

Trading in the realm of binary options requires precision, swift decision-making, and a keen understanding of market cues. When cryptocurrency enters the mix, with its heightened sensitivity to news, the game’s dynamics change. Let’s uncover strategies traders can leverage when basing their predictions on crypto-centric news events.

Harness Real-time Information Channels

In a market that doesn’t sleep, traders must remain vigilant. Subscribing to real-time news services, setting up push notifications from trusted crypto news websites, or monitoring Twitter feeds of key industry figures can give traders an edge. Automated tools and bots are also available that provide instant news alerts, ensuring traders are always in the know.

Discern Immediate Fluctuations from Long-Term Impacts

News can either cause a temporary ripple or a lasting wave. A promotional tweet from a celebrity might incite a brief spike in price, while geopolitical events, major partnerships, or groundbreaking technological innovations might have long-term implications. Especially for binary options traders who lean towards shorter time frames, it’s pivotal to differentiate between short-lived buzz and transformative change.

Combine Technical with Fundamental Analysis

Relying solely on news might make one susceptible to the chaos of the market. While fundamental analysis focuses on news and broader economic indicators, integrating it with technical analysis can heighten prediction accuracy. 

If a cryptocurrency’s price breaches a known resistance level following news, it might indicate a robust bullish trend. Conversely, breaking a support level might hint at a bearish sentiment.

Practice Caution with Overreactions

Markets, especially the crypto ones, are known for overreacting to news, both positive and negative. A discerning trader will recognize these overreactions and anticipate potential price corrections. 

For instance, if negative news leads to a steep price decline, but the fundamental value of the cryptocurrency remains intact, it might present a bullish prediction opportunity for binary options.

Stay Updated with Regulatory Developments

One of the most influential news types in the crypto space is regulatory news. A country embracing or shunning cryptocurrency can lead to massive price shifts. Binary options traders should always be on the lookout for regulatory changes in major economies and be ready to act.

Wrapping Up

The amalgamation of cryptocurrency news and binary options trading presents both a challenge and an exciting frontier for traders. Recognizing the ripple effects of news and strategically navigating its tumultuous waves can be the difference between a successful prediction and a missed opportunity. Always approach with a combination of insight, strategy, and caution, especially given the high-risk nature inherent to both cryptocurrencies and binary options.

Many individuals assume that virtual currency is complex. People still regard cryptocurrencies as complex since they do not use them. Individuals do that when they can’t understand something; they label it as complex. The 1kdailyprofit.app is for you if you are searching for the most trusted platform to invest in cryptocurrency.

Ethereum is presently the most famous form of virtual currency in the industry. People were unconcerned about it when it appeared in 2009, but as valuations started to rise, more focus was given to it.

Companies are started to accept virtual currencies. As a result, new types of crypto emerge. These are known as altcoins. Crypto coins boosted competition in the virtual realm. Other than Ethereum, virtual currencies worth buying include Litecoin, XRP, Ethereum, and others.

5 Tips To Know Before Investing In Cryptocurrency

The exchange of cryptocurrency between stakeholders is not subject to any constitutional limits. You also aren’t required to undergo any unnecessary steps before transferring money. Sending cryptocurrency to some other individual is simple and quick.

Crypto does not require any additional costs. No additional fees, transaction costs, committees, or representatives are required for you to conduct business. These factors contribute to the transaction being inexpensive, simple, and quick.

All transactions involving cryptocurrency are encoded. This makes cryptocurrency transactions secure. It also aids in the protection of your individuality. Your economic transaction cannot be known to a 3rd person.

Cryptocurrency is more secure than banking institutions. Banks have entry to your profile history and specifics. Virtual currency precludes the leakage of confidential information. Only users have admin rights to your exchanges.

You should know about cryptocurrency tips if you want to start cryptocurrency trading. Here, I am explaining five tips you should know as a newbie.

First, be cautious

Do your research before investing in cryptocurrency. Before investing in a hopeful bitcoin, you must always conduct your investigations.

Research is an essential element before making any investment. If virtual currency fails to deliver on its promises, there is a good chance you will lose some money. Therefore, before investing in any virtual currency, thoroughly examine it every time.

Diversify your crypto investments

You’ve probably noticed that you shouldn’t put all your food in one bowl. Unfortunately, that is very true when investing in crypto assets.

If you buy shares too much in a single cryptocurrency, your earnings will not boost. As a result, you should broaden your bitcoin investments. It would help if you also boosted your asset in the bitcoin market.

Don’t go out for the financial or monetary capacity.

Don’t go beyond your available funds. If you only have a small amount of money to buy shares, it is ideal for engaging in crypto coins. For a small investment, the dangers are lower. Instead of putting it into cryptocurrencies, you could use the money you’ve saved for something else essential.

Before you buy shares, think about that, unlike some other brokerage firms, which allow you to purchase your shareholdings anytime. There’s no such option with digital currencies. This helps make your asset vulnerable to market turmoil and market prices. It may result in significant losses.

Select the right crypto wallet

If you intend to engage in a specific virtual currency, you should also ensure that you possess the proper account. Always choose an account that the currency’s development company approves. This will assist you in keeping your monies safe and avoid being revealed to code faults or security flaws.

Always safeguard your secret keys securely and distance yourself from hacker attacks. Using a community Wi-Fi channel, you should detach your account. The spyware or packet sniffing does not gain access to your wallet.

Risk management

There’s going to be a threat if you trade in cryptocurrency. It results in the individual must quantify the threat percentage. The user should attempt to control it as effectively as possible.

Do not make too much investment, which you can not recover. You cannot manage to spend more cash than you can to pay. this is a rising company. It would help if you controlled the danger by making an investment only what you can bear to lose.

Conclusion

There are numerous risks associated with crypto exchanges. Conduct your investigations to determine whether you can benefit from these. It would help if you considered all proposal elements before buying shares; keep these factors in mind.

Middle East Bank Codes For All Branches {OFFICIAL}

TransUnion has released new findings around global e-commerce fraud that occurred during the start of the 2022 holiday shopping season.

The analysis found 15% of all global e-commerce transactions reviewed between November 24-28 were potentially fraudulent. For transactions originating from Kenya, 5.4% of e-commerce transactions during that period were suspected to be fraudulent.

These findings are based on intelligence from billions of transactions contained in TransUnion’s TruValidate fraud analytics solution suite.

The analysis also determined that the average number of suspected digital fraud attempts on any given day during that holiday period globally was 82% higher than during the rest of the year (Jan. 1, 2022 to Nov. 23, 2022).

For transactions originating in Kenya, this percentage was 15% lower than during the rest of the year and was 42% higher than the same period in 2021.

“Fraudulent activity tends to be particularly prevalent in online retail during the holiday shopping season,” said Shai Cohen, senior vice president and head of global fraud solutions at TransUnion.

Despite the fact that consumers have begun returning in larger numbers to in-person shopping in the post-pandemic era, online retail continues to be the preferred means of holiday shopping for many. It is important that online retailers ensure consumer security and privacy protections, which is important to consumers, but in a way which ensures a seamless shopping experience that minimizes unnecessary friction.

TransUnion also revealed in the analysis the top types of fraudulent e-commerce transactions globally.

This year, promotion abuse (user abuses site promotions such as refer-a-friend, free giveaways, etc.) and account takeover (someone other than the owner of an account uses it without permission, indicating that the account has been maliciously compromised), were the top types of digital fraud in retail.

“Online retailers must equip themselves with the proper tools to detect fraud at the first warning sign, and without inhibiting the consumer journey,” said Morris Maina, Chief Executive Officer TransUnion Kenya.

“It’s more important than ever that these online retailers implement holistic fraud solutions that are able to verify customer identity and authenticity at the very beginning of a transaction without resulting in false positives that may cost them legitimate transactions,” he said.

The increase of suspected digital fraud during the traditional busiest days of the holiday shopping season occurred as consumer’s express concern about being victimized. TransUnion’s 2022 Consumer Holiday Shopping Survey found that 63% of Kenyan consumers are concerned with being victimized by online fraud this holiday season.

TransUnion monitors digital fraud attempts reported by businesses in varied industries such as gambling, gaming, financial services, healthcare, insurance, retail, and travel and leisure, among others.

The conclusions are based on intelligence from billions of transactions and more than 40,000 websites and apps contained in TransUnion’s flagship identity insights, digital insights, omnichannel authentication, and fraud analytics solution suite – TruValidate.

Civil servants have been urged to seek membership with Sauti Savings and Credit Savings Sacco to reap big from its vast benefits.

The Sacco Chairman Kisii zone, Julius Moseti said that the Sacco is currently one of the best as it offers a wide range of benefits including fast processing and disbursement of loans, less interest on loans with longer repayment period, as well as benefits derived from shares.

These loans include Development loans, Supernormal, School fees and Emergency loans among others.

The Sacco has 1600 members currently and seeks to recruit more members to fill the gap.

However, in the recent past, Sauti Sacco has been having challenges of dwindling membership as some of its members left after retiring from public service.

“Other members have also transferred shares from the Sacco apart from those who have since retired and pulled out,” said Moseti, who urged the existing members to source for new ones and persuade them into joining them.

“The Sacco is free for everyone, especially all civil servants regardless of their departments,” he added.

Moseti was speaking when he met members in Homa Bay Town to present awards to three of them for being the longest active members and the highest savers.

“Today we were happy to present prizes to three of our members who have the highest record in savings, best saving practice and longevity in membership,” he noted.

Moseti called on members to be positive towards Sauti Sacco and encourage one another to save more in order to earn big through shares in future.

The Sacco is doing well in terms of finance and if you want money just apply and do your development program, he added.

“Previously, the Sacco had challenges which we have been able to overcome and we are now soaring the heights. Let us all work towards achieving our individual targets as far as our personal development is concerned as we also strive to ensure our Sacco is well protected moving forward,” said the chairman.

TERMS AND CONDITIONS RELATING TO

THE HUSTLER FUND SAVINGS AND LOAN PRODUCT  for AIRTEL CUSTOMERS

1.            THE AGREEMENT

• This Agreement sets out the terms and conditions (hereinafter called the “Terms and

Conditions”) which shall be applicable to the Hustler Fund Savings and Loan Product.

• These Terms and Conditions and any amendments or variations thereto shall take effect on their date of publication.

2.            DEFINITIONS

• In these Terms and Conditions, the following words and expressions (save where the context requires otherwise) bear the following meanings:

• “Airtel” means Airtel Money Kenya Limited, incorporated in Kenya as a limited liability company under the Companies Act.
• “Bank” means KCB Bank Kenya Limited incorporated in Kenya as a limited liability company under the Companies Act (Chapter 486 of the Laws of Kenya) and duly licensed as a bank under the Banking Act (Chapter 488 of the Laws of Kenya) and includes subsidiaries of the Bank as may from time to time be specified by the Bank to
• “Customer” means the person means the subscriber to whom the Services
• “Customer Care Centre” means any Airtel Retail Shops or Bank Branch or such other Bank Agent or Agents as may be notified to the Customer by the Bank from time to
• “E-Money” means the electronic monetary value depicted in your Airtel Money Account representing an equal amount of cash.
• “Equipment” includes your mobile phone handset, SIM Card and/or other equipment which when used together enables you to access the
• “Hustler Fund Account” means your account with the Hustler
• “Hustler Fund Savings and Loan Product means the products under the Fund which will target individuals.
• “Fund” or “Hustler Fund” means the Hustler Fund established through the Public Finance Management (Financial Inclusion Fund) Regulations, 2022 issued and published under the Public Finance Management Act,
• “Interest rate” shall mean the rate of 8% or such other loan rate as may be approved and communicated from time to time or such interest rate as the bank may from time to time apply to savings
• “IPRS” means the Integrated Population Registration System set up and maintained by the Government of Kenya under the Ministry of State for Immigration and Registration

1

of Persons and its successors.

• “Airtel Money Account” means your mobile money store of value, being the record maintained by Airtel of the amount of E-Money from time to time held by you in the Airtel Money System.
• “Pin” means your personal identification number being the secret code used to access and operate the Airtel Money
• “Airtel Money Service” means the money transfer and payments service provided by Airtel through the Airtel Money System; “Airtel Money System” means the system operated by Airtel in Kenya for the provision of the Airtel Money Service using the
• “Airtel Money subscriber” means any person registered to use the Airtel Money System to send or receive money or make
• “Network” means the mobile cellular network operated by
• “Personal Information” means personal identifiable information as prescribed in the Data Protection Act which includes but is not limited to name, address, phone number, identification number and location
• “Request” means a request or instruction received by the Bank from you or purportedly from you through the Network and the System and upon which the Bank is authorized to
• “Services” shall include any form of financial services or products that the Bank may offer you pursuant to this Agreement and as you may from time to time subscribe to and “Service” shall be construed
• “SIM Card” means the subscriber identity module which when used with the appropriate mobile phone handset enables you to access the
• “SMS” means a short message service consisting of a text message transmitted from one mobile phone to
• “System” means the Airtel’s or the Bank’s electronic banking and communications

software for purposes of the Services.

• “Transaction Fees” means the fees charged to transact on your Airtel Money Wallet as

published by Airtel from time to time.

• “We,” “our,” and “us,” means the Bank and Airtel and include their respective successors in title and
• “You” or “your” means the Customer and includes the personal representatives of the
• The word “Customer” shall include both the masculine and the feminine gender as well as juristic persons.
• Words importing the singular meaning where the context so admits include the plural meaning and vice

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3.            THE LOAN PRODUCT

• The Hustler Fund Savings and Loan Product, administered by KCB and/or Family Bank has the following key features:

• The principal loan amounts under the product shall range from KES 500 to KES 50,000.
• To be eligible,
  • a person must be a Kenyan citizen of at least 18 years;
  • a person must have a valid national identification card (ID);
  • a person shall be eligible to borrow between KES 500 to KES 50,000 depending on a credit score developed by the Bank;
  • a person must have a SIM Card registered with Airtel and be a registered subscriber of Airtel Money services;
  • a person must have used the SIM Card for at least three months from the date of registration.

• The term of the loan shall be 14 days and interest shall be charged at the rate of 8% per Interest shall be accrued daily until repayment in full within 14 days.

• The loan shall be advanced to eligible persons through the Airtel Money

• The Hustler Fund Savings and Loan Product shall have a savings component as follows:

• 5% of the loan advanced shall be deducted to go towards savings (the “Savings Deduction”).
• 30% of the Savings Deduction shall be applied to a savings account (the “Short

Term Savings”).

• 70% of the Savings Deduction shall be applied towards the Customer’s pension

(the “Pension Remittance”).

• An added feature of the Personal Loan Product is that the Government of Kenya shall match the Pension Remittance of a Customer who has not defaulted on a loan in the ratio of 2:1 such that for every KES 00 saved, the government shall add KES 1.00 to a maximum government contribution of KES 6,000.00 per annum.
• If the loan has been fully repaid, the Customer shall only be entitled to access the Short Term Savings after 365 days from date of disbursement of the

• In the event of default by the Customer (non-payment within 14 days from the date of disbursement), interest shall accrue at the rate of 5% p.a. with effect from the 15^th day. If the Customer fails to repay by the 30^th day from the date of disbursement, the Customer’s credit rating may be reviewed by the bank which may result in a review of the customer’s assigned credit limit. The interest applied on the loan shall accrue on a daily

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basis from the date of loan disbursement until the 365^th day, or such other earlier date upon which the loan may have been fully repaid.

• In the event that the Customer fails to repay the loan by the 30^th day from the date of disbursement, the Customer shall not be eligible to borrow from the Fund until full repayment of all outstanding
• To mitigate against the risk of total default by the borrowers, the bank shall retain the 30% intended for short term savings as described in 3.1.5.2 above in a suspense account until full repayment of the
• Upon full repayment of a loan, the amount in 1.8 shall be released to the customer who will be at liberty to withdraw it or keep it as savings.

4.            ACCEPTANCE OF THE TERMS AND CONDITIONS

• Before applying for funds under the Hustler Fund Savings and Loan Product via the Airtel Money System you should carefully read and understand these Terms and conditions which will govern the use and operation of the Hustler Fund Savings and Loan

• If you do not agree with these Terms and conditions, please click “Decline” on the Hustler Fund

menu at *254#.

• You will be deemed to have read, understood and accepted these Terms and Conditions:

• upon clicking on the “Accept” option on the Hustler Fund menu requesting you to confirm that you have read, understood, and agreed to abide with these Terms and Conditions; and/or
• by using or continuing to use and operate the Hustler Fund and/or the

• By applying for funds under the Hustler Fund Savings and Loan Product, you agree to comply with and be bound by these Terms and Conditions for the time being and from time to time in force governing the operation of the Hustler Fund Savings and Loan Product and you affirm that these Terms and Conditions herein are without prejudice to any right that the Bank or Airtel may have with respect to the Hustler Fund Savings and Loan Product in law or

• These Terms and Conditions may be amended or varied from time to time subject to at least thirty (30) days prior notice to you. The continued use of the services under the Hustler Fund Savings and Loan Product and/or the Services after lapse of the said notice period constitutes your agreement to be bound by the terms of any such amendment or

5.            ACCOUNT OPENING

• The Bank reserves the right to verify with Airtel the authenticity and status of your Airtel money

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• You may access the Hustler Fund Savings and Loan Product by dialing *254# or by such other means as may be notified to you by us.

• You hereby consent and authorize the Bank to request for, receive, record, disclose or utilize your personal information held by Airtel pursuant to the agreement between you and Airtel for the provision of Airtel products and services and Airtel Money Service including your phone number, name, date of birth, ID or Passport Number and such other information that will enable the Bank to identify you and comply with the regulatory “Know Your Customer” requirements (together the “Personal Information”). You also hereby agree and authorize the Bank to request Airtel for information relating to your use of the Airtel Money Service, Airtel Money System and Airtel Services as the Bank shall require for purposes of providing you the Services (“Customer information”) and in particular to determine your credit limit. You hereby consent to the disclosure of the Personal Information and the Customer information by Airtel to the Bank and to the aforesaid use of the Personal Information and the Customer information by the

• You hereby agree and authorize the Bank to obtain and procure your Personal Information contained in the IPRS from the Government of Kenya and you further agree and consent to the disclosure and provision of such Personal Information by the Government of Kenya to the

• You hereby further acknowledge and authorize the Bank to verify your Personal Information received from Airtel against the information received from the Government of Kenya in your respect as contained in the

• The Bank reserves the right to request for further information from you pertaining to your application for a Hustler Fund Savings and Loan Product funds at any time. Failure to provide such information within the time required by the Bank may result in the Bank declining to accept your application for a Personal Loan.

• Acceptance of your application for a Hustler Fund Savings and Loan Fund shall be done via SMS sent to the Airtel Mobile Phone Number associated with your Airtel Money Account.

• The Bank reserves the right to decline your application for a Personal

6.            YOUR REQUESTS

• You hereby irrevocably authorize the Bank to act on all Requests received by the Bank from you (or purportedly from you) through the System and to hold you liable in respect thereof. The Bank may nevertheless refuse to carry out any Requests which would result in there being an overdraft on your Hustler Fund Savings and Loan Product and Airtel
• Airtel and the Bank shall be entitled to accept and to act upon any Request, if they believe that it can correct any incomplete or ambiguous information in the Request without any reference to you being
• Airtel and the Bank shall be deemed to have acted properly and to have fully performed all the

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obligations owed to you notwithstanding that the Request may have been initiated, sent or otherwise communicated in error or fraudulently, and you shall be bound by any Requests on which Airtel and the Bank may act if they in good faith and without negligence acted in the belief that instructions was sent by you.

• Airtel and the Bank may, in its absolute discretion, decline to act on or in accordance with the whole or any part of your Request pending further enquiry or further confirmation (whether written or otherwise) from
• You agree to and shall release from and indemnify Airtel and the Bank against all claims, losses, damages, costs and expenses howsoever arising in consequence of, or in any way related to their having acted in accordance with the whole or any part of any of your Requests.
• You acknowledge that to the full extent permitted by law, Airtel and the Bank shall not be liable for any unauthorized drawing, transfer, remittance, disclosure, any activity or any incident on your account by the fact of the knowledge and/or use or manipulation of your PIN, password, ID or by any other means occasioned by your
• You can only cancel your Request by calling the Customer Care Centre and Requesting Cancellation will however only be allowed where your Request is revocable and has not yet been acted on. If Airtel or the Bank is able to cancel your instruction you may be charged for such cancellation.
• Airtel and the Bank are authorized to effect such orders in respect of your Hustler Fund Savings and Loan Product funds as may be required by any court order or competent authority or agency under the applicable laws.
• In the event of any conflict between any terms of any Request received by the Bank from you and these Terms and conditions, these Terms and conditions shall

7.            LOAN REPAYMENT

• The Bank may at any time give you notice in writing if an accrued debt is not paid within a stipulated From the date of receipt by you of the notice then Airtel may, without further notice, freeze your airtel money account from borrowing from the fund until payment in full.

• Repayment of any amount due includes but is not restricted to repayment of the interest and principal amount, and may be made through partial payments or a full payment.

• It is agreed that the loan shall be available on an ongoing/continuous basis for a period of fourteen (14) days, with a further period of up to thirty (30) days from the first date of utilization of the

• Any funds available in your Hustler Fund Account shall be applied towards repayment of the amount due in the following order of priority:

• first in repayment of all Interest; and

• secondly towards repayment of the principal

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8.            STATEMENTS

• You may request for a statement or activity report in respect of your funds within the Airtel Money Wallet through the applicable Airtel channels and
• The statement shall not be sent to you in printed form but shall be delivered to you via SMS to the Airtel mobile phone number associated with your Airtel money account
• Save for a manifest error, a statement issued to you in the aforesaid manner shall be conclusive evidence of the transactions carried out on your Airtel Money wallet for the period covered in the statement.
• We reserve the right to rectify discrepancies, add and/or alter the entries in your statements, without prior notice to you. you will however be informed of any rectification, additions and or alterations effected on your statements within a reasonable time after the changes are
• All notifications of transactions related to the Hustler Fund Savings and Loan Product shall be by way of SMS and the transaction charges for this service will be debited from your Airtel Money

9.            CUSTOMER COMPLAINTS

• You may contact the Bank’s or Airtel’s Customer Care Center to report any disputes, claims or

discrepancies in respect of the Service through any of the contacts provided below

Airtel

By calling 100 or sending an email to customerservice@ke.airtel.com, alternatively you can visit any Airtel shop.

KCB Bank

Email: contactcentre@kcbgroup.com Tel:      +254 (20) 3270000

Tel:      +254 (732) 187000

Tel:      +254 (711) 087000

WhatsApp: +254 (711) 087087

SMS: 22522

• Airtel and the Bank will take all measures within its means to resolve your complaints within a reasonable All complaints will be handled in accordance with Airtel and the Bank’s complaints handling procedures, which are available on request from any Airtel or Bank Branch or Customer Care Centre. Where a notification regarding your complaint or any other matter is expected but not received, you may make a further complaint within a reasonable time after non-receipt of such notification.

• Applicable tariffs will be charged by your telephone and internet service provider(s) when

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communicating with the Customer Care Centre.

10.         TAXES

• Amounts in your Airtel Money Wallet may be subject to withholding tax in accordance with applicable Kenyan, foreign or international law.
• You consent and agree that we may withhold amounts in your Airtel Money Wallet if any Kenyan or foreign tax authority requires us to do

11.         HUSTLER FUND SAVING AND LOAN

• You will be entitled, subject to these Terms and Conditions, to transfer money from your Airtel money account and/or make withdrawals therefrom into your Airtel money account, as follows:

1. using the Saving and Loan Fund menu on your device, you may apply for a loan from the fund and if issued, the Bank shall channel loaned funds under the personal loans project to your Airtel Money Account free of charge.

• You may access and withdraw funds from the Hustler Fund menu on your device and the applicable Transaction Fees will however be charged on all transactions once the funds are in the Airtel Money

1. There will be no restrictions on the number of deposits into your Airtel Money Wallet for the Hustler Fund Savings and Loan Product over any period of time subject to a minimum deposit of 1.00.

• Subject to availability of sufficient funds to your Airtel Money Wallet, there are no restrictions on the number of withdrawals you may make from your wallet over any You may withdraw up to the maximum allowable transactional limits under the Airtel Money Service.

12.         PRIVACY POLICY

• Collection of information

We collect certain Personal Information for compliance with our legal and contractual obligations to you or to take steps to enter into an agreement with you without which we are legally obligated to deny you the service.

Apart from the legal obligation mentioned above, we also need to collect your Personal Information for quality service delivery. Please note that although this is voluntary, without such information we may not be able to provide quality service.

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 Privacy

We are committed to respecting and protecting the privacy of the information we collect from you. Our privacy statement, in compliance with the requirements of the Data Protection Act 2019, as updated from time to time, explains how we treat your Personal Information, who we share your information with, and measures taken protect your privacy when you use our Service. This can be found on the Airtel and KCB websites.

13.         DISCLOSURE

• You hereby expressly consent and authorize the Bank to disclose, receive, record or utilize your personal information or information or data relating to your Hustler Fund Savings and Loan Product account and any details of your use of the Services:
  • to and from the Bank’s service providers, dealers, agents or any other company that may be or become the Bank’s subsidiary or holding company for reasonable commercial purposes relating to the
  • to a Credit Reference
  • to the Bank’s lawyers, auditors or other professional advisors or to any court or

arbitration tribunal in connection with any legal or audit proceedings.

• to Airtel or other business partners in connection with the Airtel Money Service and other affiliated Services for the purpose of fulfilment of a legal obligation or realizing legitimate
• for the purposes of credit scoring for the
• for reasonable commercial purposes connected to your use of the Services, such as marketing and research related activities; and
• in business practices including but not limited to quality control, training and ensuring effective systems

• You authorize the Bank to disclose any information relating to your Personal Loan Project account to any Kenyan, foreign or international law enforcement or governmental agencies so as to assist in the prevention, detection, investigation or prosecution of criminal activities or fraud or to any other institution or third party as required by the laws of Kenya or any other country and or as the Bank may deem

• In the event of death, your estate administrator will be granted access to your Airtel Money wallet upon production of administration letters from a competent authority or confirmed grant of letters of administration or confirmed grant of probate by your legal representatives duly appointed by the

14.         YOUR EQUIPMENT AND RESPONSIBILITIES

• You shall at your own expense provide and maintain in safe and efficient operating order your device necessary for the purpose of accessing the System and the

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• You shall be responsible for ensuring the proper performance of your We shall neither be responsible for any errors or failures caused by any malfunction of your device, and nor shall virus or related problems that may be associated with the use of the System, the Services and the device. You shall be responsible for charges due to any service provider providing you with connection to the Network and the Bank shall not be responsible for losses or delays caused by any such service provider.

• You shall follow all instructions, procedures and terms contained in these Terms and Conditions and any document provided by the us concerning the use of the System and

• You agree and acknowledge that you shall be solely responsible for the safekeeping and proper use of your device and for keeping your PIN secret and secure. You shall ensure that your PIN does not become known or come into possession of any unauthorized We shall not be liable for any disclosure of your PIN to any third party and you hereby agree to indemnify and hold the us harmless from any losses resulting from any PIN disclosure.

• You shall take all reasonable precautions to detect any unauthorized use of the System and the Services. To that end, you shall ensure that all communications from Airtel and the Bank are examined and checked by you or on your behalf as soon as practicable after receipt by you in such a way that any unauthorized use of and access to the System will be
• You shall immediately inform the Airtel and the Bank through the Customer Care Centre in the event that:
  • You have reason to believe that your PIN is or may be known to any person not authorized to know the same and/or has been compromised; and/or
  • You have reason to believe that unauthorized use of the Services has or may have occurred or could occur and a transaction may have been fraudulently input or

• You shall at all times follow the security procedures notified to you by the Bank from time to time or such other procedures as may be applicable to the Services from time to time. You acknowledge that any failure on your part to follow the recommended security procedures may result in a breach of your Hustler Fund Savings and Loan Product’s data In particular, you shall ensure that the Services are not used or Requests are not issued or the relevant functions are not performed by anyone other than a person authorized to do so.

• You shall not at any time or use the device in any way that may be prejudicial to

15.         EXCLUSION OF LIABILITY

• In the absence of negligence on its part, Airtel and the Bank shall not be responsible for any loss suffered by you should the Services be interfered with or be unavailable by reason of (a)

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the failure of any of your device, or (b) any other circumstances whatsoever not within our control including, without limitation, force majeure, terrorist or any enemy action and adverse weather or atmospheric conditions.

• In the absence of negligence on its part, Airtel and the Bank will not be liable for any losses or damage suffered by you as a result of or in connection with:
  • unavailability of sufficient funds in your Airtel money account wallet;
  • the money in your Airtel Money Wallet being subject to legal process or other encumbrance restricting payments or transfers thereof;
  • your failure to give proper or complete instructions for payments or transfers relating to your Hustler Fund Savings and Loan Product funds;

• any fraudulent or illegal use of the Services, the System and/or your Equipment; or

• Your failure to comply with these Terms and Conditions and any document or information provided by the Bank concerning the use of the System and the Services.

• Under no circumstances shall Airtel or the Bank be liable to you for any loss of profit or anticipated savings or for any indirect or consequential loss or damage of whatever kind, howsoever caused, arising out of or in connection with the Services even where the possibility of such loss or damage is notified to the

• All warranties and obligations implied by law are hereby excluded to the fullest extent permitted by

16.         INTELLECTUAL PROPERTY RIGHTS

You acknowledge that the intellectual property rights in the System (and any amendments, upgrades or enhancements thereto from time to time) and all associated documentation that Airtel and the Bank provide to you through the System or otherwise are vested in us or in other persons from whom the have a right to use and to sub- license the System and/or the said documentation. You shall not infringe any such intellectual property rights. You shall not duplicate, reproduce or in any way tamper with the System and associated documentation without our prior written consent.

17.         INDEMNITY

In consideration of our compliance with your instructions or Requests in relation the Airtel Money wallet, you undertake to indemnify us and hold us harmless against any loss, charge, damage, expense, fee or claim which the Bank suffers or incurs or sustains thereby and you absolve us from all liability for loss or damage which you may sustain from us acting on your instructions or Requests or in accordance with these Terms and Conditions.

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18.   VARIATION AND TERMINATION OF RELATIONSHIP

• Without prejudice to any of our rights under these terms and conditions, we reserve the right to at any time upon notice to you, terminate or vary our business relationship with you and may suspend or discontinue your use or access to the Hustler Fund:
  • if you use the Airtel Money wallet for unauthorized purposes or where the Bank detects any abuse/misuse, breach of content, fraud or attempted fraud relating to your use of the
  • if your Airtel money account or agreement with Airtel is terminated for whatever
  • if the Bank is required or requested to comply with an order or instruction of or a recommendation from the government, court, regulator or other competent
  • if the Bank reasonably suspects or believes that you are in breach of these terms and conditions
  • where such a suspension or variation is necessary as a consequence of technical problems or for reasons of
  • to facilitate update or upgrade the contents or functionality of the Services from time to
  • where your Airtel Money Wallet becomes inactive or dormant or is deemed abandoned in line with the Unclaimed Financial Assets
  • if we decide to suspend or cease provision of the Services for commercial reasons or for any other reason as we may

• If your Airtel Money Wallet has any credit balance at the time of its closure, Airtel will return any such balance to you, less any applicable

• You may cancel registration for the Service at any time through your Equipment. You may however not cancel registration if you have an outstanding and unpaid loan/ principal or unpaid

• Termination shall however not affect any accrued rights and liabilities of either

• If Airtel or the Bank receives notice of your demise, we will not be obliged to allow any operation or withdrawal from your Airtel Money Wallet by any person except upon production of administration letters from a competent authority or confirmed grant of letters of administration or confirmed grant of probate by your legal representatives duly appointed by the Court.

19.         MISCELLANEOUS

• These terms and conditions (as may be amended from time to time) form a legally binding agreement binding on you and your personal

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• These terms and conditions (as may be amended from time to time) should be read in conjunction with the Terms and Conditions for the Airtel Money services. In the event of any inconsistency, these Terms and Conditions for shall prevail in relation to the provision of the Hustler Fund Savings and Loan Product

• This Agreement and any rights or liabilities accruing thereunder may not be assigned by you to any other person.

• The rights and remedies herein provided are cumulative and not exclusive of any rights or remedies provided by law.

• If any provision of these Terms and Conditions shall be found by any duly appointed arbitrator, court or administrative body of competent jurisdiction to be invalid or unenforceable the invalidity or unenforceability of such provision shall not affect the other provisions

20.         DISPUTE RESOLUTION, JURISDICTION AND ARBITRATION

• You may contact the Banks or Airtel’s Customer Care Center to report any disputes, claims or

Hustler Fund discrepancies.

• Any dispute arising out of or in connection with this Agreement that is not resolved by Customer Care Centre representatives shall be resolved by the parties through amicable settlement discussions, failing which it shall be referred to arbitration. Such arbitration shall be before a single arbitrator to be appointed by agreement between the parties or in default of such agreement within 60 days of the notification of a dispute, upon the application of either party, by the Chairman for the time being of the Chartered Institute of Arbitrators (Kenya Branch). Such arbitration shall be conducted in the English language in Nairobi in accordance with the Rules of Arbitration of the said Institute and subject to and in accordance with the provisions of the Arbitration

• To the extent permissible by Law, the determination of the Arbitrator shall be final, conclusive and binding upon the parties

• This Agreement shall be governed by and construed in accordance with the laws of the Republic of Kenya.

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