Software developer and innovator Sam Wanjohi has lost a Sh1.1 billion lumpsum that he was set to receive as compensation over the alleged usage of his ideas in the development of two M-Pesa apps.

This is after the High Court nullified the compensation that had been given to Wanjohi and his tech company through an arbitration in November 2024.

The arbitration had agreed with Wanjohi who is the founder of Popote Innovations that Safaricom had dropped his firm from a partnership then proceeded to use ideas that Wanjohi and Popote had fronted to develop M-Pesa Super App and M-Pesa Business App.

The compensation given comprised of Sh39.2 million in award, Sh902.7 million in shared revenue for the contested M-Pesa apps, and Sh2.5 million in costs of the case.

Following the award, Safaricom had gone to the High Court seeking nullification, arguing that the award that had been given out was fictitious and an attempt by Wanjohi and Popote to benefit from something they had not invested in.

Safaricom claimed in court that it had never signed a partnership agreement with Popote in 2018 for the development of a mobile payment solution that was to be known as Popote Pay.

Apparently, during arbitration, Popote had claimed that Safaricom had agreed to share revenues from the partnership before walking out of the deal and developing M-Pesa Super App and M-Pesa Business App without compensation for the ideas.

The two apps were then launched by Safaricom in June 2021 while Popote claimed that it had delivered the customized Popote Pay Solution on May 8, 2018.

Popote had further complained that the two apps were similar to the Popote Pay project that Safaricom and Popote had initially partnered to develop and launch together.

The arbitrator ruled in favour of Popote after determining that the two Safaricom apps were similar to the Popote concept. The arbitrator then proceeded to issue the Sh1.1 billion compensation package in favour of Popote whose director is Wanjohi.

In the new High Court ruling that has nullified the hefty pay given by the arbitrator, the High Court declared that there had been no expert or factual evidence to confirm that the two Safaricom apps were similar to Popote Pay when the compensation was given by the arbitrator.

In addition, the court determined that the Sh1.1 billion award was issued based on speculative financial assumptions and an unsigned agreement.

“The [High Court] finds that the arbitrator’s award predicated on an unsigned and inoperative contract, and containing speculative damages unrelated to the evidence, offends the principles of contractual certainty, legality, and fairness, thereby conflicting with the public policy of Kenya,” the High Court ruled.

“The evidence before this court shows that the alleged partnership agreement was never executed by Safaricom. Nor is there any exchange of correspondence or other written instrument evidencing an intention by Safaricom to submit disputes to arbitration.”

Although Popote produced an email sent to Safaricom which contained a draft of an agreement between itself and Safaricom. However, Safaricom contested this, arguing that the partnership agreement was never finalized because Safaricom never signed the contract.

The High Court concurred with Safaricom, and ruled that the email was merely an acknowledgement receipt of the draft agreement but did not signify execution or assent.

The High Court went on to declare that execution of the agreement by both Popote and Safaricom was an express precondition to the agreement going into effect, which did not happen.

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Uchumi Supermarkets has announced a Sh8.8 million rare profit for the full year period that ended on June 30, 2025. This profit was largely contributed by income from rental business that the company is currently involved in.

According to disclosures that have been released under the Company Voluntary Arrangement (CVA), the Sh8.8 million profit was a turnaround from the Sh49.7 million loss that the company disclosed in its audited results for the previous year that concluded on June 30, 2024.

This CVA report was prepared by Owen Koimburi from the business advisory firm known as Forvis Mazars Kenya. The CVA was set up in March 2020 and its mandate is set to conclude in June 2026.

Although Uchumi has returned a profit, the results were below the Sh12.85 million profit that the company had anticipated to make during the period.

According to the CVA report, revenue from sales increased from Sh65.4 million to Sh123.01 million during the period under review. This saw Uchumi record a 79 percent rise in gross profit to Sh27.7 million, after netting off Sh95.31 million as cost of sales.

The troubled Uchumi Supermarkets has been concentrating on renting out its premises. One of these rental properties is the building that is currently occupied by China Square.

The financial disclosures show that rental income increased by nearly five times to Sh62.7 million in the period under review from Sh13.5 million that was realized in the previous period. Much of this rental income came from the space occupied by China Square which took over the space in June 2024. Previously, this space had hosted Uchumi’s Lang’ata Hyper Branch.

The report further indicated that Uchumi currently has 11 tenants who are paying a monthly rental income of Sh5.94 million. China Square pays Sh5 million which is equivalent to about 84 percent of the company’s monthly rental income.

Other tenants include Paris Lounge Grill which pays Sh300,000 per month, Isle Garden which pays Sh212,155, Sudo Liquor Store which pays Sh114,223, and Spatial Barberz which pays Sh64,655.

“The company’s growth potential is evident from the financial performance report, which indicates consistent growth to date. Priority should be given to closing the gap between actual and budgeted performance,” said Koimburi.

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When I&M Bank launched the Shinda Millioni campaign in August this year, the goal was clear: to promote financial discipline while showing appreciation to loyal customers.

What began as a rewards-driven initiative has quickly evolved into a powerful platform for financial inclusion, encouraging Kenyans from all walks of life to embrace formal banking and responsible financial habits.

The three-month campaign ending on Wednesday, November 12, gives customers a chance to earn entries by performing normal banking activities such as opening accounts, transacting via the I&M App, or using I&M debit and credit cards. This positions the lender as a partner in customers’ financial journeys, rather than merely a provider of transactional services.

From each action, a customer stands a chance to become a millionaire, with weekly, monthly, and grand draws offering cash prizes worth millions of shillings.

For instance, for every Sh2,000 average cleared balance maintained in a customer’s account, they will earn one entry point into the weekly and monthly draws. The more customers bank, the greater their chances of becoming millionaires.

The campaign is shining a light on how behavioral incentives can deepen financial inclusion by getting more individuals to open accounts, use formal banking channels, and build financial resilience.

Promoting savings culture

To qualify for prizes, customers must maintain a minimum average balance of Sh2,000 over the draw period. This approach encourages customers to save more and shift from irregular to regular account usage.

Additionally, the Sh2,000 minimum balance is relatively low and makes the offer accessible to many low-income earners.

“We want to directly reward good savings culture while encouraging both our existing and new customers to grow their deposits. This initiative is a core part of our strategy to build and cement the I&M brand as a trusted financial partner in the market, ensuring the process is transparent, fair, and ultimately beneficial for our customers.” Mr. Gul Khan, Chief Executive Officer, I&M Bank Kenya, stated.

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Encouraging the Use of Formal Banking Channels

The campaign incentivizes customers to open and actively use I&M accounts for everyday financial transactions, such as deposits, savings, and digital payments. Through the campaign, I&M is inviting the underbanked individuals to engage with formal financial institutions.

Enhancing Financial Literacy

In addition to its rewards component, the campaign integrates educational messaging around financial planning, saving, and responsible borrowing, empowering customers to make informed decisions about their money.

Supporting Small Businesses and Entrepreneurs

Shinda Millioni encourages small business owners to use I&M business banking solutions which provide further benefits such as access to credit, empowering them to fully participate in the economy.

Dorcas Wanga a poultry farmer in Mumias made history by winning Sh1 million within weeks of opening a Solo Biz account at I&M’s Kakamega branch. With only Sh50 deposit, Wanga became the initiative’s first millionaire winner. She plans to use the money to expand her poultry business.

“I see myself as a large farmer and a large land owner in the next five years. I advise all small business owners to deposit more and win more,” she said.

Promoting Digital Banking Adoption

Shinda Millioni is bridging the gap between traditional banking and digital finance. The initiative’s focus is on the use of the bank’s digital banking platforms, particularly the I&M Bank mobile app and online banking services. This is crucial in a market where mobile penetration is high, but digital banking literacy is still growing.

Kenyan comedian Sammy Kioko has in the recent weeks been at the centre of discussion over his alleged Sh19 million tender dispute with Machakos County Government.

The comedian turned businessman expressed his frustrations over the delays in payment, which he claims led to the closure of his clothing business, Kioko Designs.

Looking into his career, Kioko is an epitome of grass to grace having rose from a humble background. He was born in Mombasa but his family later relocated to Machakos and Nairobi counties where he grew up.

Growing up, Kioko envisioned becoming a teacher. However, things took a different turn when he joined high school and became a member of the drama club.  He participated in stand-up comedy while in high school, winning various awards and laying the foundation for who he is today.

After high school, Kioko joined KCA university where he did Bachelor of Education (Arts) in History and Swahili. He joined the university comedy competitions and was later absorbed by the Kenya Broadcasting Corporation(KBC), where he continued nurturing his skills.

In 2015, he unsuccessfully auditioned for the Churchill show. He went on to act set books, a job he did for about two years which helped him in many ways including stage presence and articulation.

His breakthrough came after he auditioned for the Ultimate Comic show that aired on Maisha Magic East. Kioko was among the top three finalists alongside Oloo Daniel and  Amos Kiptabut, and was awarded a Sh1 million cash prize.

In a past interview with Radio Jambo he revealed that he used the Sh1million Ultimate Comic cash prize money to better the life of his parents.

“My dad did not have a home; he was a serial drunkard and used to sleep in very weird places. The first thing I did was to build him a house. I also opened a shop for my mother who was still struggling with her business. Then the remainder I paid for my school fees and now I am a teacher in History and Swahili,” he said.

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After this award, he performed in the Churchill show, where he has become a favourite to many people with his witty and funny jokes on the show.

Sammy Kioko tender disputes

Kioko recently went viral after camping outside Machakos County offices demanding payment of Sh19 million, after he allegedly supplied goods to the county government.

He claims that the payment has been outstanding for nearly two years despite completing the tender and even submitting documented proofs of deliveries to the Machakos County procurement office.

Responding to the matter, the Machakos County government accused Kioko of tarnishing governor Wavinya’s name, denying any relationship with the comedian.

“The county government has taken note of allegations that we are indebted to him for goods allegedly supplied to the county. These assertions are unfounded and also appear to be part of a calculated and politically motivated scheme aimed at discrediting the governor and undermining the integrity of the county’s leadership.”

The county claimed that they had verified procurement documents, and there was no contract between them and Kioko.