The Computer Society of Kenya

Since 1986

Internet price wars loom as capacity becomes idle

internetDAILY NATION By  Peter Mburu

Monday, June 27, 2022

More than two-thirds of Kenya’s internet supply remained idle in the quarter to March, laying ground for vicious price wars as more firms stepped up investment to add their capacities.

The latest data by the Communications Authority of Kenya (CA) shows that between January 1 and March 31, the country only used 3,386.19 billion bits per second (Gbps) of internet bandwidth out of the total available capacity of 10,891.65 Gbps —indicating an oversupply that is likely to trigger price competition among service providers.

This leaves unutilised bandwidth within the country at 7,505.46 Gbps, even as organisations, including multinationals, local firms, and some state firms scramble for the internet market, deploying more internet infrastructure.

“During the review period, leased/available international internet bandwidth remained unchanged whereas bandwidth capacity utilised within the country increased by 15.2 percent to stand at 3,386.19 Gbps,” the CA report stated.

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Crypto industry gripped by anxiety as bitcoin wobbles near Sh2.3m level

bitcoin-2-BUSINESS DAILY By REUTERS

Monday June 20 2022

The cryptocurrency industry was on edge on Monday morning as investors feared contagion from problems at major crypto players could unleash a major shakeout if not contained.

Bitcoin which has lost 57 percent so far this year and 37 percent this month, fell below Sh2.34 million ($20,000) over the weekend for the first time since December 2020.

The level is of symbolic significance, as it was roughly the peak of the 2017 cycle.

The price fall follows difficulties at several major industry players, while further declines could have a knock-on effect as other crypto investors are forced to sell their holdings to meet margin calls and cover losses.

Crypto hedge fund Three Arrows Capital is exploring its options, including the sale of assets and a bailout by another firm, its founders told the Wall Street Journal in a story published Friday, the same day Asia-focused crypto lender Babel Finance said it would suspend withdrawals.

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Mitigating cyber-fraud risks targeting Kenyan businesses

cybercrimeBUSINESS DAILY By HAROLD MBATI

Tuesday June 06, 2022

Last week the media reported how a Kenyan was milked dry by a well-orchestrated SIM swap fraud carried out. The victim lost Sh2.6 million in the unfortunate event. That is a snapshot of the dangers of cybercrime at a micro-level. At a macro-level where banks and large businesses are involved, the situation is dicier.

As we celebrate the Micro, Small and Medium-sized Enterprises Day (MSMEs) this month, let us pay attention to this challenge.

As we know small businesses have been most affected since the outbreak of the pandemic, making the reinsurance sector an increasingly challenging market. This has a ripple effect on the banks and the insurance sector that protects them and by extension the reinsurance companies that safeguard these insurers.

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Kenyans lose billions to Crypto frauds

bitpxSATURDAY NATION BY VINCENT ACHUKA

Saturday June 11,2022

“I still drive my Ferrari and some of you can’t afford to eat.” That is the last message the founder of a cryptocurrency wrote to Kenyans in a Telegram group after defrauding them of Sh1 billion.

In the days leading to the collapse of Bitstream Circle, a ponzi scheme designed by Kenyan and Chinese fraudsters, its investors – mostly Kenyans – started noticing delays whenever they wanted to withdraw their money.

The company, which had promised a daily profit return of five to 10 per cent of invested amount, appeared on the internet on December 7, 2021.

It gained more than 10,000 followers on its Telegram page in a short time. To be added to the “Bt Elite Team” group, one had to make a $20 (Sh2,340) deposit.

Investors were assigned a mentor who would show them how to convert their shillings into cryptocoins, trade, earn profit and withdraw their money.

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Kenyan domains up 39pc on faster tech adoption

internet33BUSINESS DAILY By KEVIN ROTICH

Thursday May 26 2022

The number of registered Kenyan domains grew by 38.5 percent in 2020, a new report shows, at a time when companies embraced digital platforms in the wake of Covid-19's restrictions.

Official data from the Kenya National Bureau of Statistics (KNBS) shows that a total of 101,123 local domains were established in 2020, up from 62,636 in 2016, representing a 38.5 per cent increase.

Companies recorded the highest number of applications at 35,611 followed by government entities (243), institutions of higher learning (236), not-for-profit organisations (70), blogs (12), and lower and middle institutions of learning (five) in the period.

”Total registered Kenyan domains continued to increase for the fifth year in a row to stand at 101,123 in 2020. Second Level Domain (SLD) had the highest increase of 15.9 per cent followed by Institution of Higher Learning at 8.2 per cent,” the 2021 Economic Survey shows.

After the government announced stringent lockdown measures such as social distancing, closure of schools and movement restrictions, firms adopted digital solutions to reach new and existing customers.

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