The World Economic Forum announced the opening of its new Center for the Fourth Industrial Revolution in San Francisco. The Center will serve as a platform for interaction, insight and impact on the scientific and technological changes that are changing the way we live, work and relate to one another. It is the first permanent, globally active office of an international organization in the Bay Area. “Given the accelerating change brought on by innovation, continuous public-private cooperation on a global level is needed more than ever,” said Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, ahead of the opening in San Francisco. “This is the purpose of our Center for the Fourth Industrial Revolution in San Francisco, which will serve as a global platform for dialogue and collaborative action on the most important questions related to the impact of emerging technologies.” The Center will bring together entrepreneurs, start-ups, investors, businesses, regulators, policy-makers, international organizations, NGOs and academia from all over the world. It aims to develop a common understanding of the disruptive technologies and scientific advances affecting the economy and society, and facilitate the development of policy frameworks and norms to govern them. “The San Francisco Bay Area is the center of technology innovation, with an amazing community of entrepreneurs, business leaders and thought leaders who are paving a way forward,” said Benioff ahead of the panel. “The Center for the Fourth Industrial Revolution can serve as an essential platform where some of the brightest minds can help understand the trends shaping our world and navigate the future.” The Center will focus on technologies, concepts, scientific developments and new business models such as artificial intelligence and robotics, precision medicine, blockchain, drones and their civilian use, autonomous vehicles, 3D printing, and the role of the individual in the era of big data, the internet of things and artificial intelligence. It will also advance Forum projects such as industrial internet of things safety, digital trade, advancing the shared economy and project-based workforce, and harnessing Fourth Industrial Revolution technologies and innovation to improve global ocean health, management and governance. The Center will be led by Murat Sönmez, Chief Business Officer and Member of the World Economic Forum Managing Board, who joined the Forum in 2014 after having spent 25 years in Silicon Valley.

KCB awards 5.7million to 800 Youths in Bankika Campaign while pledging to make more investments in the coming year by rolling out a series of targeted financial solutions, riding on its revamped digital platform

Under its flagship KCB Bankika Account, the Bank said it hopes to deepen its financial inclusion agenda for the youth as its next frontier for growth.

This was disclosed by the Bank’s Marketing and Communications Director Angela Mwirigi when the lender was awarding at least 800 winners of its just concluded Bankika Ushinde Campaign.

“As part of our deliberate investments towards supporting the youth agenda, we have anchored our growth strategy on providing a targeted one-stop shop financial that is formed around a digital finance,” said Ms Mwirigi. “The youth are the future and we are glad that we are playing a positive role in promoting a savings culture among the young people,”

A total of 800 winners for the Bankika Ushinde promotion received cash prizes totaling Kshs5.75 million. The 3 overall winners received a combined total of Kshs1.75 million. Kennedy Kamau Gacheru, Judy Makena Mutwiri and Faima Butna won Sh 250,000, Sh 500,000 and Sh1 million respectively.

During campaign, the bank saw Bankika personal accounts rise by 25% while the Bankika Business accounts shot up 39%. The value of deposits in the Bankika Personal and Business accounts also rose by 25% and 135% respectively. “This is part of the bank’s strategy to bank the unbanked within our society and to promote financial inclusion” she added.

As part of its youth agenda, the Bank has sponsored the reality TV show—KCB Lion’s Den— the first of its kind in Kenya, targeting entrepreneurs who have good business ideas with a concrete business plan and those who have an established business but need to raise funds to advance their business further.

The bank also purposes to meet the needs of the Bankika account holders by enabling them to enjoy no monthly fees, no ledger fees and access to quarterly free statements.

KCB is hoping that through the initiatives, it will not only help offer a new direction for business development in Kenya, but also increase financial literacy among the Kenyan people. KCB has other projects targeted at encouraging and amplifying an entrepreneurship culture