Kenyan Wallstreet
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Sep 17, 2024 at 06:01AM
China’s Securities Regulatory Commission and the Ministry of Finance have suspended accounting giant PricewaterhouseCoopers International (PwC) for six months and fined it 441mn Yuan (US$62 million) over the firm’s audit […]
Sep 17, 2024 at 05:41AM
Kopo Kopo, a fintech that provides short-term loans, has appointed Dennis Ondeng as its new CEO, and made three other senior leadership changes amidst acquisition plans by Nigerian fintech giant […]
Sep 16, 2024 at 04:12PM
President William Ruto has appointed more than 120 people across four sub-committees to review and refine the new university funding model after a public uproar. “In the performance of its […]
Sep 16, 2024 at 02:52PM
The National Health Insurance Fund (NHIF) will be transitioned to the Social Health Authority (SHA) 1 October despite a High Court case declaring SHIF Act 2023 unconstitutional, the Social Health […]
Sep 16, 2024 at 01:53PM
As one of Africa’s most prominent business hubs, Nairobi is witnessing a shift in its office real estate market. The rise of green buildings in the city reflects a global […]
Sep 16, 2024 at 12:16PM
Real estate is one of the most attractive investment opportunities in Kenya, offering strong returns and portfolio diversification. Whether you’re an experienced investor or new to the market, understanding key […]
Sep 16, 2024 at 12:09PM
Members of the Kenya Hospital Association (KHA) have issued a statement announcing that they would impair operations in Nairobi Hospital this morning until the hospital’s board resigns. “The general public […]
Sep 16, 2024 at 11:54AM
The government has issued warning to individuals against mining activities on minerals classified as strategic such as Copper, Coltan and Chromite. “As a Ministry, we are committed to execute the […]
Sep 16, 2024 at 10:28AM
Fintech giant M-Kopa has been ordered to pay KSh 885.87 million in taxes by the Tax Appeals Tribunal in a landmark ruling on tax jurisdiction. The tribunal set aside the […]
Sep 16, 2024 at 06:23AM
Kenya continues to solidify its position as a leading destination for expatriates, ranking 14th out of 53 countries in the 2024 Expat Insider survey conducted by InterNations. Among the most […]
Sep 15, 2024 at 07:28AM
The Office of the Data Protection Commissioner (ODPC) has fined medium sized lender SBM Bank Kenya, the local subsidiary of Mauritius based lender State Bank of Mauritius (SBM) Holdings, KSh. […]
Sep 14, 2024 at 09:00AM
Kenya will seek Germany’s commitment on increasing its financing to “support Africa’s ambition to meet its climate and development goals,” President William Ruto’s press office said in a statement on […]
Sep 14, 2024 at 07:04AM
Data Commissioner Immaculate Kassait has decried the low compliance of data processors and controllers with data protection laws despite growing awareness from the public about breaches. At a recent workshop […]
Sep 14, 2024 at 06:42AM
Car & General has been barred from using profits from its two subsidiaries – Watu Credit and Cummins C&G Joint Venture – to reduce its tax obligations in a Tax […]
Sep 13, 2024 at 02:09PM
Aliko Dangote, one of Africa’s richest serial entrepreneurs, has called on his fellow business leaders to “take the lead in transforming the continent.” “With the foremost entrepreneurs on the continent, […]
Sep 13, 2024 at 01:12PM
The membership of regulated saccos increased last year to 6.84 million from 6.42 million members reported in 2022, despite a drop in the number of regulated saccos during the period. […]
Sep 13, 2024 at 09:39AM
Zambian fintech and neobank Lupiya has appointed Network as its digital payments technology partner to launch a new debit card, the company said in a statement. Lupiya’s solution is meant […]
Sep 12, 2024 at 05:46PM
The European Central Bank (ECB) has cut its key interest rates by 0.25 percent in its meeting on Thursday, just days ahead of a much anticipated decision by the US […]
Sep 12, 2024 at 02:10PM
Inflation in the United States (US) softened in August, raising hopes of a gradual rate cut of 25 basis points during the US Federal Reserve next meeting on September 18th, […]
Sep 12, 2024 at 09:32AM
Liquid Intelligent Technologies, an arm of Cassava Technologies, has upgraded the 1, 300km fibre route between Mombasa and Busia. “This expansion allows Liquid to offer 99.99% uptime availability of services […]
Sep 12, 2024 at 09:17AM
Top importers of second-hand clothes have been put on high alert over environmental and health disaster, a new report by Greenpeace Africa and Greenpeace Germany says. According to International Trade […]
Sep 11, 2024 at 07:02PM
Longhorn Publishers posted a loss after tax amounting to KSh237.9 million in the full year 2024, a 58.4 percent reduction from a KSh571.3 million loss recorded in the same period […]
Sep 11, 2024 at 03:25PM
Rise, a Nigerian global investments startup, has completed its second acquisition in under one year after taking over Hisa, a Kenyan startup that facilitates stock trading. “This acquisition aligns perfectly […]
Sep 11, 2024 at 01:22PM
Cabinet Secretary for Treasury and National Planning John Mbadi has said that Kenya’s Ministries Departments and Agencies (MDA’s) entire budgets will have to be justified and approved in the 2025/26 […]
Sep 11, 2024 at 01:15PM
Energy Cabinet Secretary Opiyo Wandayi has said that the government is looking at tapping private sector capital among other options to address the persistent power blackout that is now becoming […]
Sep 10, 2024 at 10:49AM
The National Assembly and other appellants will today argue their appeal on the Finance Act 2023 before the full seven judge bench of the Supreme Court of Kenya. The Respondents […]
Sep 10, 2024 at 10:33AM
Real Estate Investment Trusts (REITs) have revolutionized the way individuals invest in real estate worldwide. REITs are companies that own, operate, or finance income-producing real estate across various sectors. They […]
Sep 10, 2024 at 07:01AM
The Institute of Engineers of Kenya (IEK) is calling upon the government to carefully evaluate its deal with Adani enterprises to upgrade JKIA and embrace transparency with relevant stakeholders. “While […]
Sep 10, 2024 at 06:49AM
Companies listed at the Nairobi Securities Exchange (NSE) will now be required to develop and submit a forward-looking and tentative calendar of corporate announcements. The information should be publicly available […]
Sep 09, 2024 at 09:45AM
The Insurance Regulatory Authority of Kenya, Ministry of Energy and Petroleum, State Department of Industrialisation and East African Insurance Sector (ICEA Lion, Kenya Re, Old Mutual, GA and Mayfair) have […]
Sep 09, 2024 at 09:40AM
Last week, the Kenyan Shilling stabilized against the US Dollar, closing the week at KShs. 129.19. Similarly, the year-to-date performance rose to 13.1 percent, buoyed by marginal gains from large […]
Sep 06, 2024 at 11:34AM
Kenya’s private sector activity recovered marginally in the month of August after disruption by the anti-Finance Bill 2024 protest. “August PMIs show the private sector recovering merely marginally. Output and […]
Sep 05, 2024 at 12:00PM
China’s President Xi Jinping has committed 360 billion yuan ($50.70 billion, Kshs. 6.512 trillion*) in financing to the continent and at least one million jobs at the ongoing Forum on […]
Sep 05, 2024 at 09:09AM
The Medium and Small Enterprises (MSMEs) Financing Gateway, a digital platform designed to help enterprises, is now live in Kenya and Uganda, the International Trade Center (ITC) said in a […]
Sep 05, 2024 at 08:56AM
The CBK is seeking KSh 30 billion in the September auction earmarked for budgetary support from two reopened bonds, as the state moves towards a preference for longer dated papers. […]
Sep 04, 2024 at 03:12PM
54 Collective, formerly Founders Factory Africa, is hosting its second live African Pre-Seed Podcast at the Capital Club East Africa, Nairobi to unpack the topic “Behind the Scenes of Capital […]
Sep 04, 2024 at 02:44PM
An investor is seeking action against Old Mutual Holdings (formerly UAP Holdings) over allegations of minority shareholders mistreatment among other issues raised to the Capital Markets Authority (CMA) in an […]
Sep 04, 2024 at 01:00PM
Collaboration to streamline and digitise the merchant onboarding process, enabling acquiring partners to automatically onboard merchants in over 50 African countries in three minutes or less. Cape Town, South Africa […]
Sep 04, 2024 at 12:51PM
The number of employees working in Equity Bank (Kenya) reduced by 415 to 7,763 last year from 8,178 in 2022, according to lender’s latest sustainability report. The Group’s total number […]
Sep 04, 2024 at 10:10AM
In a startling turn of events, KnowBe4, a leading cybersecurity awareness training company, recently uncovered an elaborate scam when it unwittingly hired a North Korean spy. This incident has sent […]
Sep 04, 2024 at 09:32AM
Stanbic Bank Kenya has entered asset management through its newly established Insurance and Asset Management Unit, with plans to introduce more investment products. “To drive growth, we must mobilise domestic […]
Sep 03, 2024 at 04:56PM
The value of combined assets of all Collective Investment Schemes (CIS), such as Money Market Funds and fixed income funds, operating in Kenya has crossed the 250 billion mark for […]
Sep 03, 2024 at 04:31PM
Kenya has formally joined the multilateral Asian Infrastructure Investment Bank (AIIB) as a fully paid member, which will see it access concessional funding for infrastructure, climate change efforts, connectivity, regional […]
Sep 03, 2024 at 04:15PM
Private equity firm 8 Miles, associated with Irish rockstar and philanthropist Bob Geldof, has exited majority of its stake in Awash Wines, a leading wine producer in Ethiopia, for an […]
Sep 03, 2024 at 02:56PM
The Competition Authority of Kenya (CAK) has approved the acquisition of certain assets of Ramoda Ceramics by KEDA (Kenya) Ceramics Company, which will see the latter’s market share increase to […]
Sep 03, 2024 at 09:14AM
Chinese national and World Bank veteran Qimiao Fan will take over as new World Bank country director for Kenya, Uganda, Somalia and Rwanda, the Bretton Woods institution said in a […]
Sep 03, 2024 at 08:55AM
The Cabinet Secretary (CS) for National Treasury John Mbadi has appointed a Steering Committee to oversee the transition from cash basis to accrual basis of accounting. CS Mbadi has appointed […]
Sep 02, 2024 at 05:01PM
The world’s largest climate fund, The Green Climate Fund (GCF), has approved $151 million in financing for an African Development (AfDB) program to address climate vulnerability in the Horn of […]
Sep 02, 2024 at 04:20PM
The Capital Markets Tribunal has dismissed Kiuna Ngugi’s – a former BOC Kenya chair and minority shareholder – appeal challenging the takeover of BOC Kenya by Carbacid Investments PLC and […]
Sep 02, 2024 at 04:06PM
In a move that might ease simmering tensions in the Horn of Africa, Djibouti has disclosed that it is planning to offer Ethiopia “100% access” to the Tadjoura port. Although […]
Sep 02, 2024 at 02:43PM
Information on the cost of loan by Central Bank of Kenya (CBK) indicates borrowers pay between 9 to 20.96 per cent on loans, depending on which lender one banks with. […]
Sep 02, 2024 at 11:49AM
Chpter, an AI-powered conversational commerce platform, has raised US$1.2 million in their pre-seed round to expand product visibility and enhance clients’ marketing capabilities. “At Pani we’re always on the look […]
Sep 02, 2024 at 11:12AM
A US federal court has fined Nigerian fintech entrepreneur, Dozy Mmobuosi, about US$250 million for failing to represent his case to charges leveled against him by the Securities and Exchange […]
Sep 02, 2024 at 09:36AM
An alliance of civil society groups has accused The Alliance for a Green Revolution in Africa (AGRA) of using its power to exert undue influence on local, national and continental […]
Sep 02, 2024 at 08:52AM
Kenya’s inflation rate increased for the first time in six months to 4.4 percent in August compared to 4.3 percent in July on increased prices of food, energy and transport. […]
Aug 30, 2024 at 05:11PM
Bamburi Cement, which is considering two acquisition offers, is set to pay a special dividend of KSh 18.25 per share despite posting a loss for H1 2024. On the upside, […]
Aug 30, 2024 at 03:56PM
Kenyans want the government to put more pressure on rich countries to provide resources to support the country’s response to climatic changes. “By large majorities, Kenyans support greater investments in […]
Aug 30, 2024 at 02:59PM
Libya’s Central bank governor, Sadiq Al-Kabir and other senior bank officials have fled the country to seek protection from potential attacks, just days after a new leadership team accused them […]
Aug 30, 2024 at 02:30PM
The Nairobi Securities Exchange (NSE) has recorded a profit of KSh54.7 million in H1 this year, citing revenue growth from non-trading income streams like interest and consultancy. “The divestiture of […]
Aug 30, 2024 at 01:02PM
An American couple – Mathew Shaw and Brooke Shaw – are accusing US-based Kenyan businessman Julius Mwale and his wife Kaila Mwale of defrauding them US$ 870,000 (KSh 112 million), […]
Aug 30, 2024 at 11:50AM
A lot has been said and written concerning MSMEs and their invaluable role in local economies. Despite their informal status, MSMEs enable communities around them to access basic commodities and […]
Aug 30, 2024 at 11:35AM
As one of the resolutions in spurring private sector growth through SOEs listings, Botswana Stock Exchange acting Chief Executive Officer (CEO) Kopano Bolokwe advised that shareholders must adopt best practices, […]
Aug 30, 2024 at 11:17AM
SYSPRO, a global leader in Enterprise Resource Planning (ERP) systems, is accelerating its domain in the Kenyan market by popularizing its services to manufacturing companies seeking advanced data automation and […]
Aug 30, 2024 at 10:28AM
Ampersand, a Rwandan electric motorbike manufacturer, has topped up its total funding to US$ 21.5 million after receiving US$ 2 million from investors in its Series A funding. “This latest […]
Aug 30, 2024 at 09:43AM
Majority of Kenyans channeled money borrowed in the first half of this year to finance education, restock existing business and day-to-day living needs, digital lender Tala found in its H1 […]
Aug 30, 2024 at 08:45AM
Jubilee Holdings posted a 22.7 per cent jump in net profit in the first half of 2024 to KSh2.5 billion from KSh 2.0 billion recorded in the same period in […]
Aug 30, 2024 at 08:28AM
The Central Bank of Kenya (CBK) has raised a further KSh32.02 billion from the tap sale of the August Infrastructure bond reopened last week. The 17 year paper was undersubscribed […]
Aug 29, 2024 at 05:22PM
China increased its lending to Africa in 2023 to US$ 4.6 billion marking the first increase in 7 years, according to research by the Boston University Global Development Policy Center. […]
Aug 29, 2024 at 05:11PM
The fundraising environment in East African region is expected to improve over the next 12 months as economic activity, confidence and investment pick up. “Fundraising activity has fluctuated, with strong […]
Aug 29, 2024 at 03:26PM
The world airline industry has maintained its trajectory of recovery during the first quarter of 2024 with a rebound in passenger demand, according to African Airlines Association (AFRAA). International traffic […]
Aug 29, 2024 at 12:48PM
The government has spent KShs. 44 Billion on stabilization of fuel prices, which the Ministry of Energy says has been funded by the Petroleum Development Levy Fund. “Under the Kenya […]
Aug 29, 2024 at 11:21AM
Crown Paints Kenya Plc, a listed paints and coats manufacturer (Ticker: CRWN), posted a KSh 75 million profit for the first 6 months to June 2024, a 103 percent jump […]
Aug 29, 2024 at 07:00AM
Interswitch East Africa (Kenya) Limited has partnered with Elie Technologies to unveil a contactless payment solution for merchants and customers in Kenya. The solution, dubbed Tumatap, will enable Micro, Small, […]
Aug 29, 2024 at 05:06AM
Diamond Trust Bank (DTB) reported an 11.5% increase in after-tax profits for the first half of 2024, reaching Ksh 4.9 billion. This growth was primarily driven by a 15.1% rise […]
Aug 28, 2024 at 03:14PM
Nairobi was established as a railway depot for the Uganda Railway in 1899. Initially, the city’s development was modest, with basic government buildings and offices constructed to serve the colonial […]
Aug 28, 2024 at 02:35PM
Flutterwave has received a Payment Systems Operator (PSO) license from the Bank of Uganda, the fintech said in a statement on Wednesday. According to the company, the PSO license allows […]
Aug 28, 2024 at 12:01PM
Listed cement maker Bamburi Cement has received a second acquisition offer after Savannah Clinker Ltd. expressed interest to acquire the company at KSh 70 per share. Savannah Clinker has pledged […]
Aug 28, 2024 at 09:25AM
The Kingdom of Saudi Arabia is rivaling the United Kingdom (UK) as one of the top sources of diaspora remittances to Kenya, although the two countries’ contributions are still a […]
Aug 28, 2024 at 08:57AM
MTN Group subsidiary Bayobab Kenya has completed fibre network connecting Mombasa to Malaba and Busia on the Kenya-Uganda border, offering diversity and redundancy in delivering internet services. “This project is […]
Aug 28, 2024 at 08:00AM
Nairobi and Netherlands based private equity fund, DOB Equity has announced the appointment of Karen Serem Waithaka as its new Chief Executive Officer. “The Fund’s vision of investing in sustainable, […]
Aug 27, 2024 at 04:28PM
Majority of small holder farmers are missing out on credit to expand their farms as many are stuck in the traditional ways of storing their harvest. “The annual financing requirements […]
Aug 27, 2024 at 03:27PM
Flame Tree Group has posted a KSh90.6 million loss after tax for the 6 months to June 2024, attributed to high financial costs and surging operational expenses. However, the plastics, […]
Aug 27, 2024 at 02:30PM
Kenyan e-commerce startup, Wasoko, has completed an all-stock transaction with Egyptian e-commerce firm MaxAB thus paving the way for the much-anticipated merger between the two startups. “In line with the […]
Aug 27, 2024 at 12:25PM
Australian mining company, Base Resources, hit revenues worth US$ 135.1 million in the financial year 2024 – compared to US$ 271.4 million in the previous financial year due to reduced […]
Aug 26, 2024 at 03:59PM
During a recent webinar hosted by The Kenyan WallStreet in collaboration with Tarra Agility Africa, a boutique international tax and legal advisory firm, we delved into the business tax landscape […]
Aug 26, 2024 at 03:14PM
On demand mobility company Bolt has announced a 10% increase in base fares across all its ride categories, in a move the company said is aimed at providing fair compensation […]
Aug 26, 2024 at 01:19PM
Limuru Tea has posted a pre-tax loss of KSh19.6 million in the first half of 2024 compared to a pre-tax loss of KSh2.4 million in 2023. The increase was due […]
Aug 26, 2024 at 12:17PM
Absa Bank Plc, the kenyan unit of South Africa’s Absa Group, said its profit after tax for the half year 2024 jumped to KSh10.7 billion from KSh8.3 billion recorded in […]
Aug 26, 2024 at 11:48AM
Listed advertising firm, WPP Scangroup, has blamed foreign exchange losses of KSh250 million for their recorded losses for the half-year results – citing the need to mitigate risks associated with […]
Aug 26, 2024 at 11:47AM
Over the weekend, Telegram CEO and founder Pavel Durov was arrested by the French authorities after his private jet landed at Bourget Airport in Paris from Azerbaijan. Durov is alsoaccused […]
Aug 26, 2024 at 11:34AM
Revival of progressive parts of the withdrawn Finance Bill 2024 would yield the government KShs. 150 billion in revenue, the Cabinet Secretary for National Treasury John Mbadi said last week. […]
Aug 26, 2024 at 09:04AM
Qatar Airways has acquired a 25% stake in South African regional carrier Airlink as part of its ambitions to expand operations further across Africa. “Having Qatar Airways as an equity […]
Aug 26, 2024 at 07:30AM
Ghana’s state-owned Petroleum Hub Development Corp. (PHDC) and a consortium of private-sector partners have formally broken ground on the first phase of the country’s first integrated downstream petroleum hub According […]
Aug 26, 2024 at 07:00AM
S&P Global Ratings has lowered Kenya’s credit rating to ‘B-‘ from ‘B’, citing withdrawal of the controversial Finance Bill 2024 after deadly protests, holding that it will slow the country’s […]
Aug 26, 2024 at 06:42AM
Mary Mulili, the Managing Director and CEO of UBA Kenya, shares her leadership journey and the key drivers of success in the banking industry. She emphasizes the importance of customer […]
Aug 24, 2024 at 11:44AM
Money market funds (MMFs) might be just what you’re looking for. In this guide, we’ll break down what Money Market Funds are, the parties involved in managing them, their benefits, […]
Aug 23, 2024 at 03:29PM
The Central Bank of Kenya (CBK) will cease paying commissions to licensed securities dealers, stock brokers and custodian banks starting September – just a year after the launch of the […]
Aug 23, 2024 at 03:14PM
TPS Eastern Africa (TPSEAP), the owner of the Serena Hotels chain, has reported a profit after tax of KShs. 570 million in the six months ended 30th June 2024 from […]
Aug 23, 2024 at 12:01PM
Standard Chartered Bank Kenya has registered a 49 percent jump in profits after tax to KSh 10.9 billion in the first half of 2024 from KSh 6.9 billion recorded in the […]
Aug 23, 2024 at 11:39AM
Ride-hailing platform, Little, will increase rates for all its fleet categories by 15% to enable its drivers to earn more amidst economic challenges. “This increase may mean slightly higher costs […]
Aug 23, 2024 at 11:23AM
The East African Community (EAC) has urged its partner states to fast track regulations to liberalise the air transport market to boost regional integration and economic growth. “An integrated air […]
Aug 23, 2024 at 09:18AM
A drop in sales in Kenyan trading operations has contributed to a decline in Car & General’s net profits from about KShs. 96.7 million recorded in 2023 to KShs. 62.4 […]
Aug 23, 2024 at 08:59AM
The Nairobi Securities Exchange (NSE) intends to train a new generation of investors through a virtual mock trading platform known as NSE Soko Play, with the platform set to launch […]
Aug 22, 2024 at 03:44PM
NCBA Group has posted a 5 per cent increase in half year profit to KSh9.8 billion compared to the same period in 2023. The Group continued to accelerate and promote […]
Aug 22, 2024 at 01:31PM
The Central Bank of Kenya (CBK) has settled on German company Giesecke+Devrient Currency Technologies GmbH (G+D) to print banknotes in a classified procurement process. “Due to its national security implications, CBK’s request […]
Aug 22, 2024 at 12:27PM
KCB Group has posted an 86.4 per cent jump in profits to KSh29.9 billion in the first half of 2024 compared to KSh16.1 billion recorded in the same period 2023. […]
Aug 22, 2024 at 11:31AM
TikTok has appointed a Kenyan among eight members of its inaugural Sub-Saharan Africa Safety Advisory Council, as the popular short-video platform moves to boost safety protocols and policies. “This group […]
Aug 22, 2024 at 09:13AM
The Ethiopia foreign ministry has prohibited diplomatic and consular missions in the country from purchasing and importing cars that use petrol or diesel. “The ministry wishes to inform all Diplomatic […]
Aug 22, 2024 at 08:18AM
Kenyan e-commerce firm, Twiga Foods, will attempt to adjust business operations and rejuvenate revenues after reducing its workforce by 59 – according to Tech Cabal. “These changes are crucial as […]
Aug 21, 2024 at 05:39PM
I&M Group PLC posted a profit of KSh6.1 billion in the first half of this year, a 21% growth from KSh5.03 billion during the same period last year. Customer deposits […]
Aug 21, 2024 at 04:20PM
Kakuzi Plc, a listed agricultural firm, has posted KSh347.5 million net profit for the 6 months to June 2024 – a 195.8 percent increase compared to the same period in […]
Aug 21, 2024 at 04:12PM
The value of bonds traded in the secondary market at the Nairobi Securities Exchange (NSE) has crossed the KSh 1 trillion mark for the first 8 months to August, surpassing […]
Aug 21, 2024 at 02:08PM
The government through the ministry of Agriculture’s Pest Control Products Board is on the defensive mode after being accused of allowing harmful pesticides in the market. The deputy speaker also […]
Aug 21, 2024 at 12:09PM
Satellite internet provider, Starlink, plans to ease the acquisition of its expensive kits by allowing customers in Kenya to rent them on a monthly basis. The satellite internet provider owned […]
Aug 21, 2024 at 11:44AM
Bidcoro Africa Limited, a company associated with Bidco, has acquired the entire issued shared capital of the makers of Ribena and Lucozade brands (Suntory Beverage and Food Kenya) in a […]
Aug 21, 2024 at 11:36AM
BasiGo has secured KSh1.3 billion from United States International Development Finance Corporation (DFC) to increase local assembly of its buses. “We are currently producing in partnership with Kenya Vehicles Manufacturers […]
Aug 21, 2024 at 11:32AM
Consolidated appeal challenging last month judgement which declared Finance Act 2023 unconstitutional will be heard early next month. “In view of public interest, we direct the consolidated appeal herein be […]
Aug 21, 2024 at 10:46AM
The government has returned to the market seeking an additional KSh 15 billion in a tapsale of the August Issue which raised KSh 29.5 billion against the KSh 50 billion […]
Aug 21, 2024 at 10:19AM
Ride-hailing app, Uber, announced that it will increase fare prices for all its ride categories including the minimum price and the per-kilometer rates to give drivers an opportunity of earning […]
Aug 21, 2024 at 08:43AM
Fitch Ratings, a global credit rating firm, has downgraded KCB Bank Kenya, NCBA Bank Kenya and I&M Bank and their holding companies to ‘B-‘ from ‘B’ with a stable outlook […]
Aug 21, 2024 at 05:55AM
This episode focuses on the role of member-based organizations, like the Organization of Eastern and Southern Africa Insurance (OESAI), in promoting financial inclusion, particularly for women in the financial sector. […]
Aug 21, 2024 at 05:28AM
In this episode, we explore the transformative power of Environmental, Social, and Governance (ESG) factors in driving sustainable development across Africa. Catherine Musakali, co-founder of the Women on Boards Network […]
Aug 20, 2024 at 07:19PM
The National Environmental Management Authority is at the final stage of approving construction of a 12.5km long Meter Gauge Railway (MGR) line which commences at Lenana/Riruta area where it branches […]
Aug 19, 2024 at 08:05PM
The commercial real estate sector in Kenya has undergone a remarkable transformation over the decades, evolving from traditional office spaces and retail properties into an innovative market. This evolution mirrors […]
Aug 19, 2024 at 07:51PM
Equity Group’s Kenyan subsidiary was raided twice, likely by insiders, on the same day last month, The Daily Nation has reported in the latest in this ongoing saga. According to […]
Aug 19, 2024 at 05:40PM
A recent poll by The Kenyan Wall Street asked over 2,300 respondents, “If you were voting in the upcoming US election, who are you casting a ballot for,” former President […]
Aug 19, 2024 at 05:07PM
National carrier Kenya Airways is out of the red line for the first time in 10 years after announcing Sh513 million net profit in the first half of 2024. “We […]
Aug 19, 2024 at 03:59PM
The cost of fertiliser is still beyond the reach of many farmers across the country posing the risk of low-quality produce, despite efforts by the government to introduce subsidized fertilisers, […]
Aug 19, 2024 at 03:39PM
When LinkedIn first launched in 2003, it was primarily a digital repository for resumes. Professionals use it to display their work history and attract the attention of recruiters. LinkedIn has […]
Aug 19, 2024 at 03:29PM
Aviation Workers Union Postpones Strike Last weekend, Kenya Aviation Workers Union postponed planned industrial action meant to start this week, saying that it had decided “to give dialogue a chance.” […]
Aug 19, 2024 at 01:44PM
MTN Group has posted a half-year 2024 loss, weighed down by devaluation of the Nigerian naira and operational challenges in Sudan. At the end of the period, MTN’s total subscriber […]
Aug 19, 2024 at 12:36PM
Uganda’s Umeme Limited profit after tax remained unchanged during the first-half of 2024 at USh13 billion, as the company prepares to re-transfer assets back to Government at the end of […]
Aug 19, 2024 at 12:08PM
Peak and Dale Group, a tech and communications agency, has acquire marketing firm Bean Interactive for an undisclosed amount. “The coming together of Peak and Dale Group and Bean Interactive […]
Aug 19, 2024 at 12:03PM
The Ministry of Education has outlined its approach to implementing a new funding model for students joining higher institutions based on family income stratification. Band Three’s will include students from […]
Aug 19, 2024 at 11:09AM
Nigeria’s headline inflation rate eased to 33.4% in July 2024, slowing for the first time in almost 2 years, down from a 28-Year high of 34.19% in the previous month. […]
Aug 19, 2024 at 08:50AM
Last week, the Kenyan Shilling strengthened further against the US Dollar, closing the week at KSh 129.14 from KSh129.54 the previous week. Similarly, the year-to-date performance rose to 13.1%, buoyed […]
Aug 17, 2024 at 07:58AM
Kenya Re-Insurance Corporation Limited has posted a 10 percent drop in profits after tax to KSh 1.06 billion in the first half of 2024 from KSh 1.17 billion a year […]
Aug 17, 2024 at 07:27AM
Listed tyres’ distributor, Sameer Africa, has recorded a profit-after-tax of KSh 108.8 million in the half year ended June 2024, a triple rise from the preceding period due to the […]
Aug 16, 2024 at 07:39PM
Equity Bank (Kenya), a subsidiary of Equity Group, has appointed Moses Okoth Nyabanda as acting managing director after the early retirement of Gerald Warui, the lender announced on Friday. “The […]
Aug 16, 2024 at 12:29PM
The Insurance Regulatory Authority (IRA) has placed Invesco Assurance under statutory management for the second time in the insurer’s 27-year history. “Insurance Regulatory Authority (IRA) has with effect from 14th […]
Aug 16, 2024 at 12:10PM
Gaea Foods, a Kenyan potato-processing company, has received an undisclosed amount in financing from Pepea Fund in the form of venture debt to support small businesses to grow and broaden […]
Aug 16, 2024 at 11:44AM
Co-operative Bank of Kenya’s (Co-op Bank) net profit for the half-year has jumped to KShs. 13 billion compared to KShs. 12.1 billion during a similar period in 2023. Apart from […]
Aug 16, 2024 at 09:22AM
As Africa’s energy sector deregulates, exciting opportunities open up for financial innovation to benefit consumers.
Aug 15, 2024 at 04:47PM
During August auction, government reopened two infrastructure bonds earmarked for financing infrastructure projects in the current fiscal cycle. Investors have continuously exhibited preference for short term papers, compelling the exchequer […]
Aug 15, 2024 at 11:28AM
The Banking Fraud Unit is investigating a case where Kenya’s second largest lender, Equity Bank, lost KSh 1.5 billion last month to an insider and his father. According to the […]
Aug 15, 2024 at 10:15AM
Developers are modernizing establishments to cash in on giant retail stores preferring to move closer to consumers within estates, real estate consultancy firm has said in its half-year report, with […]
Aug 14, 2024 at 02:56PM
Majority of businesses have put on hold planned expansion of activities due to the uncertainties from recent protests in the country, an outlook of business activity for third quarter 2024 […]
Aug 14, 2024 at 02:42PM
Abojani, a digital-first personal finance management company is marking its 60th Masterclass since 2018 today, with a free retirement planning masterclass in partnership with ICEA LION Life Assurance. The Abojani […]
Aug 14, 2024 at 01:38PM
Nigeria’s Abuja and Lagos are most affordable cities to live in for international assignees, thanks to currency depreciation. In February, IMF in its 2024 Post–Financing Assessment and Staff Report disclosed […]
Aug 14, 2024 at 12:39PM
The Morgan Stanley Capital International (MSCI), the premier global investment research firm, has promoted Co-operative Bank of Kenya (CO-OP) to the MSCI Frontier market Index (FM), and four other stocks […]
Aug 14, 2024 at 12:36PM
With less than three weeks to update KPLC token meters, some customers are complaining that renewal codes sent by the utility company via SMS are dysfunctional, as well other emerging […]
Aug 14, 2024 at 12:00PM
The Africa Centres for Disease Control and Prevention (Africa CDC) has declared the ongoing Mpox outbreak a Public Health Emergency of Continental Security (PHECS), the first such declaration by the […]
Aug 14, 2024 at 11:01AM
Sasini PLC, a publicly listed agricultural company, has issued a profit warning for the full year ending 30th September 2024, citing higher production costs, depressed commodity prices and supply chain disruptions. […]
Aug 14, 2024 at 09:35AM
The Kenya National Highways Authority’s (KenHA) announcement of a public participation process for the planned introduction of toll charges in major highways across Kenya has reignited conversations about double taxation. […]
Aug 13, 2024 at 01:16PM
The Bank of Tanzania has been lauded for its commitment to reduce regulatory burdens for financial startups in the country, after introducing a sandbox regulation framework for pilot innovators. “These […]
Aug 13, 2024 at 11:46AM
Kenya Railways has said all its Diesel Multiple Units (DMUs) which operate under Nairobi Commuter Rail (NCR) service are in good shape, contrary to media reports. Acquisition of DMUS was […]
Aug 13, 2024 at 10:53AM
HF Group Plc has resolved to offer up to 1,499,995,255 new ordinary shares to existing investors at KSh 5 inclusive of a 30 percent greenshoe option. The Transaction is subject […]
Aug 12, 2024 at 04:12PM
Conduit, a cross-border payments platform, has secured US$ 6.5 million from Helios Digital Ventures to expand across Africa and grow its B2B money transfer system. Businesses using the platform can […]
Aug 12, 2024 at 03:59PM
Last week, global stock markets experienced significant volatility, leaving many investors on edge. The turbulence was particularly evident in Japanese equities, which lost $1.1 trillion in value within just three […]
Aug 12, 2024 at 02:57PM
Equity Group posted a 12.5 percent growth in profit after tax in the first half of 2024 to KSh 29.6 billion from KSh 26.3 billion recorded in the same period […]
Aug 12, 2024 at 02:40PM
Following the nullification of Finance Act 2023, employers are seeking clarification from the Kenya Revenue Authority (KRA) on how they should pay their taxes. “The Federation of Kenya Employers (FKE) […]
Aug 12, 2024 at 02:25PM
US-based short seller, Hindenburg Research, has unleashed a new report alleging the Chairperson of Securities and Exchange Board of India (SEBI) – Madhabi Puri Buch – and her husband invested […]
Aug 12, 2024 at 12:40PM
Ethiopia’s announcement of a plan that will see bondholders forced to take a 20% haircut during the ongoing debt restructuring process has spooked investors. “The terms they offered last year […]
Aug 12, 2024 at 11:57AM
The US-Kenya trade deal is set to be ready by October, the Ministry of Investment, Trade, and Industry (MITI) has confirmed while calling on investors in the manufacturing space to […]
Aug 12, 2024 at 11:45AM
On the eve of Founder’s Factory’s rebranding to 54 Collective, The Kenyan Wall Street talked to Bongani Sithole, CEO, on the company’s evolution, the general state of VC on the […]
Aug 12, 2024 at 11:16AM
The competition regulator in Kenya has permitted UAE’s B Commodities’s acquisition of 98.56% in Lipton Teas and Infusion, setting the stage for one of the most watched M&A deals in […]
Aug 12, 2024 at 10:50AM
Here’s what you need to know to start your week Kenya Targets Global Manufacturers as Trade Deal With US Nears US-Kenya trade deal is set to be ready by October, […]
Aug 12, 2024 at 09:00AM
A former Finance minister of Mozambique, Manuel Chang, has been convicted by a US Court of bribery to secretly commit his country to huge loans that prosecutors say ended up […]
Aug 10, 2024 at 10:20AM
Earlier this week, Dr. Margaret Nyambura Ndung’u, an academic with a PhD in Information Systems, took over from Eliud Owalo as the Cabinet Secretary in charge of the critical Information […]
Aug 10, 2024 at 08:29AM
Is it easy to find previously undiscovered trade winds or even harness them? Unfortunately no. Not all telecom companies survive to this day. Social media websites were once a dime […]
Aug 09, 2024 at 12:44PM
The African Development Bank Group (AfDB) has approved a $40mn risk cover to support Dashen Bank’s trade finance activities. “This much-needed guarantee facility will be instrumental in expanding our bank’s […]
Aug 09, 2024 at 11:30AM
Uganda is considering listing power companies to enable them access more capital, seeking to emulate the success of listed Kenyan power generation company KENGEN. “We are thinking about letting you […]
Aug 09, 2024 at 09:31AM
The electric motorbike option introduced by Uber Kenya one year ago has registered a 94% increase in the number of trips around Nairobi, with the number of e-bikes and riders […]
Aug 09, 2024 at 09:19AM
The government has withdrawn the controversial Livestock Bill 2024 which sought to create a new authority to register farmers and regulate inputs and products of all livestock. “The responsibility lies […]
Aug 09, 2024 at 04:32AM
In this episode, Nuru Mugambi, Chairperson of the Angaza Forum, and Patience Muvea, Chief Actuary at Liberty Life Kenya, discuss the transformative impact of the COVID-19 pandemic on consumer behavior […]
Aug 08, 2024 at 03:37PM
The Nairobi Securities Exchange (NSE) has signed a Memorandum of Understanding (MOU) with Valour Inc., a subsidiary of Canadian listed firm DeFi Technologies Inc., and SovFi Inc, to introduce digital […]
Aug 08, 2024 at 03:26PM
Stanbic Holdings registered a mild 2.3 per cent increase in net profit in the first half of 2024 to KShs. 7.2 billion from KShs. 7.1 billion in the same period 2023. […]
Aug 08, 2024 at 03:09PM
Home Afrika, a publicly listed real estate developer, has confirmed that its main subsidiary, Mitini Scapes Development Limited, has been placed under administration due to prolonged financial challenges. In a […]
Aug 08, 2024 at 12:40PM
The second group of cabinet secretaries in President William Ruto’s administration has been sworn in, after only one nominee was found unsuitable to assume office. The 19 cabinet secretaries consist […]
Aug 07, 2024 at 05:21PM
The Bank of Uganda (BOU) has cut the key lending rate to 10.0 percent from 10.25 percent, the first time this year the apex bank has lowered the benchmark rate. […]
Aug 07, 2024 at 02:35PM
The National Environment Management Authority (NEMA) has proposed a three-colour coding scheme for non-hazardous waste. The Sustainable Waste Management Act was signed into law in 2022 and provides for consultation […]
Aug 07, 2024 at 01:51PM
The Central Bank of Kenya (CBK) has announced four changes to Kenyan currency notes – the KSh 1,000, KSh 500, KSh 200, KSh 100, and KSh 50. “This is just […]
Aug 07, 2024 at 01:33PM
Inbound and outbound roaming traffic between Kenya and Burundi is likely to improve following the entry of Burundi into the East African Community (EAC) One Network Area. “These unique tariffs, […]
Aug 07, 2024 at 01:18PM
A bill has been tabled in parliament seeking to empower the Cabinet Secretary of Treasury to set maximum and minimum price limits for essential foodstuffs and pharmaceutical products, in order […]
Aug 07, 2024 at 11:00AM
Startup accelerator Founders Factory Africa is rebranding to 54 Collective in a move to broaden its financial and capacity-building support to innovators across the entire continent. “We have learnt that […]
Aug 07, 2024 at 10:29AM
Rawbank, the largest bank in the Democratic Republic of Congo (DRC), has made an equity investment in the Africa Finance Corporation (AFC), two years after the DRC Government made a […]
Aug 07, 2024 at 09:35AM
Kenyan content creators on Facebook can now run ads when streaming their videos and reels, allowing them to earn money in the process. “Everyday, we’re inspired by the incredible African […]
Aug 07, 2024 at 09:21AM
Seven companies have failed to make it to the Competition Authority of Kenya’s (CA) list of accredited Electronic Certification Service Provider (E-CSP). While Geda Limited, Tendaworld and the Information and […]
Aug 07, 2024 at 09:07AM
The Central Bank of Kenya (CBK) cut its benchmark lending rate by 25 basis points to 12.75 percent, reducing the cost of loans for the first time in four years. […]
Aug 06, 2024 at 03:40PM
In the first seven months of 2024, the Kenyan Shilling remained the best performing currency in the region, with a year-to-date gain of 16.95 per cent. A stronger currency has […]
Aug 06, 2024 at 02:11PM
Negative listing on loan default is on the decline with the number dropping by more than half between 2019 and 2023. “This sharp decline can be explained by changes in […]
Aug 06, 2024 at 01:37PM
Many young Kenyans today are tech savvy and only businesses that transition to digital solutions can survive. By availing options that can save time and money, businesses become more competitive […]
Aug 06, 2024 at 12:12PM
Centum Investment Plc has announced an extension to the share buyback programme that commenced on 6th February 2023 for the purchase of up to 10 per cent of the total […]
Aug 06, 2024 at 10:46AM
Vehicle manufacturer and assembler Mobius Motors has gone into voluntary insolvency, after it faced financial constraints that have seen it struggle to pay creditors and employees. “At a meeting of […]
Aug 06, 2024 at 10:29AM
The three arms of government, constitutional commissions and independent offices now have slightly smaller budgets for the current fiscal year after President William Ruto signed the Supplementary Appropriations Bill into […]
Aug 06, 2024 at 10:00AM
The pace of job creation in Kenya’s business sector was slowest in July since the start of the year primarily due to protests, the increase in fuel prices, and tighter […]
Aug 05, 2024 at 04:39PM
The first Islamic bond in East and Central Africa has been floated and consequently listed on the Nairobi Securities Exchange, raising KSh3 billion at the first auction. S&P Global reported […]
Aug 05, 2024 at 03:26PM
Global markets, including equity and crypto markets, opened this week with record lows as fears that the US is headed into a recession, a rate hike by the Bank of […]
Aug 05, 2024 at 03:08PM
Amstel Trading Company Ltd., which imports photocopy paper into the Kenyan market, is set to establish a paper converting facility in Kenya after the Competition Authority of Kenya (CAK) approved […]
Aug 05, 2024 at 12:48PM
In the early 20th century, Kenya’s colonial administration began laying the groundwork for industrial parks in Kenya’s development by recognizing the strategic importance of various locations across the country. The […]
Aug 05, 2024 at 12:05PM
Eldoret town has become Kenya’s fifth official city after Nairobi, Kisumu, Mombasa, and Nakuru, after it was conferred with city status by President William Ruto. While an elevation to city […]
Aug 05, 2024 at 11:32AM
Subscribe to The Weekly Brief by The Kenyan Wall Street here. Why Moody’s Downgraded 3 of Kenya’s Biggest Banks Last month, shortly after downgrading Kenya’s credit ratings, the ratings agency […]
Aug 05, 2024 at 11:21AM
Tanzania’s National Development Corporation (NDC) has signed a US$77 million contract with Fujian Hexingwang Industry Tanzania to facilitate iron ore mining. According to NDC Managing Director, Dr Nicolous Shombe, the […]
Aug 05, 2024 at 11:13AM
Global credit ratings agency Fitch has downgraded Kenya’s sovereign rating to ‘B-‘ from ‘B’ on heightened fiscal risks to Kenya’s public finances after the government dropped tax measures in the […]
Aug 03, 2024 at 06:01PM
Nation Media Group (NMG), Kenya’s largest listed traditional media house, has reported a loss of Ksh 572.2 million for the first six months of 2024. The company’s pre-tax loss of […]
Aug 03, 2024 at 04:33PM
When starting one’s career, an internship can be a ‘make it or break it’ moment before getting that first major job – the foundation on which one’s career stands. However, […]
Aug 02, 2024 at 04:22PM
Sources within Nigerian media have revealed that Meta’s giant messaging platform, Whatsapp, may withdraw from the Nigerian market after the Federal Competition and Consumer Protection Commission (FCCPC) imposed a US$220 […]
Aug 02, 2024 at 04:05PM
A healthcare consulting firm, Salient Advisory, has released its semi-annual report highlighting the top 20 innovators in Africa enhancing access of medical services by partnering with 100 manufacturers and 75 […]
Aug 02, 2024 at 01:46PM
President William Ruto has tapped Salim Mvurya, whose career includes experience in non-governmental organizations and politics, to head the Ministry of Trade and Industrialization as its third CS in 20 […]
Aug 02, 2024 at 12:23PM
Two thirds of Africa’s population is unable to afford a healthy diet, against a global average of a third, the Food and Agriculture Organisation (FAO) says in a recent report. […]
Aug 02, 2024 at 09:55AM
Investors remain hesitant to lend the government even with the high interest rates environment with demand skewed on short term papers. The government received bids worth KSh 24.4 billion against […]
Aug 02, 2024 at 09:38AM
The first five cabinet nominees appearing before the parliamentary committee chaired by the Speaker Moses Wetangula on Thursday have a combined net worth of roughly KShs. 2.5bn. Appearing before the […]
Aug 02, 2024 at 09:09AM
The Nigerian government needs to step up its game regarding approvals for indigenous companies acquiring in-country foreign energy assets. The negative consequences of approval delays, ranging from many months to […]
Aug 02, 2024 at 07:30AM
If you are planning to acquire an acre piece of land in Upperhill, Parklands, Kilimani and Westlands suburbs of Nairobi, you will at least need to arm yourself with over […]
Aug 01, 2024 at 02:10PM
Residential real estate developer Mi Vida Homes can now manage Real Estate Investment Trusts (REITs) after it obtained a license from the Capital Markets Authority (CMA). “There has been a […]
Aug 01, 2024 at 11:48AM
Headline inflation eased in July for the second straight month on the back of marginal price reductions in key household costs such as electricity and fuel, but consumers stretched their […]
Aug 01, 2024 at 11:18AM
Bankers have urged the Central Bank of Kenya (CBK) to maintain its benchmark rate steady at 13% during the next Monetary Policy Committee meeting on August 6th. “Considering these developments, […]
Aug 01, 2024 at 11:07AM
One year after the High Court approved the appointment of an administrator to recover Savannah Cement’s defaulted debt, the failed cement maker’s administrator has invited expressions of interests in its […]
Aug 01, 2024 at 09:15AM
Kenya’s Capital Markets Authority (CMA) has granted several new licenses and approvals across multiple sectors citing move to deepen the capital markets industry. Mi Vida Homes Licensed as REIT Manager […]
Jul 31, 2024 at 04:50PM
The Court of Appeal has upheld a previous ruling by the High Court that major sections of the Finance Act 2023, which is still in operation after the rejection of […]
Jul 31, 2024 at 04:16PM
Some Nairobi cab customers have complained about ride hailing drivers demanding fares 1.5 times higher than the ones calculated by the app. “We would love to notify the public that […]
Jul 31, 2024 at 03:33PM
Listed commercial company, Nairobi Business Ventures (NBV) PLC, recorded a profit leap of 107% in the FY ended 31st March 2024 after registering a profit after tax of KSh 17.8 […]
Jul 31, 2024 at 03:28PM
Investors in Nairobi Satellite areas have recorded growth in rent and sales of their houses in the second quarter of this year, cashing out on urbanization going on in the […]
Jul 31, 2024 at 01:11PM
The Nairobi Securities Exchange (NSE) has formally inaugurated the Linzi Sukuk bond into the unquoted securities platform, in an occasion graced by President William Ruto at the Exchange building. “The […]
Jul 31, 2024 at 01:07PM
Energy giant TotalEnergies has acquired 100% of SN Power, a subsidiary of Norwegian renewable energy firm Scatec ASA, which has interests in hydropower projects in Uganda, Rwanda, and Malawi. “We […]
Jul 31, 2024 at 11:40AM
Forex trading stands as one of the most vibrant sectors in the financial world, attracting a significant number of retail clients. However, it is often surrounded by myths and misconceptions […]
Jul 31, 2024 at 09:40AM
About 300 employees are set to lose their jobs as Kenya’s oldest media house, Standard Group, tries to reorganise operations amidst shrinking revenues and an evolving technological landscape. “We remain […]
Jul 31, 2024 at 09:00AM
Ethiopia has removed import bans on more than 35 items but maintained its ban on imported fuel-powered cars, its Ministry of Finance said on Tuesday. In October 2022, the Ethiopian […]
Jul 31, 2024 at 08:54AM
Listed brewer East African Breweries Plc (EABL) recorded an 11.8 percent drop in profit to KSh 10.9 billion for the year ended June 2024, from KSh 12.3 billion a year […]
Jul 31, 2024 at 08:30AM
Investors have been challenged to stay awake to looming policy changes to reposition their portfolios for better returns that meet long-term financial goals. “Given this environment, balanced foundation allocations comprising […]
Jul 31, 2024 at 08:01AM
Centum Investment has recorded a profit of KSh556 million for the financial year ended 31 March 2024 compared to a loss of 61 million in the prior year. The drop […]
Jul 31, 2024 at 07:30AM
Ethiopian Airlines has posted US$7.02 billion in revenue for the fiscal year 2023/2024, which ended on July 7. This represents a 14 per cent increase compared to the fiscal year […]
Jul 30, 2024 at 02:27PM
Kenya and Uganda have officially started discussions on extending the petroleum products pipeline from Eldoret to Kampala, which would cost of overland transport to Uganda and beyond. “Extension of the […]
Jul 30, 2024 at 02:11PM
NCBA Group will not charge monthly fees for their retail banking accounts effective 1st July 2024 in a bid to enhance their customers’ value for money. “This new era of […]
Jul 30, 2024 at 01:59PM
More than 9,000 households are set to benefit from electricity connection after the Japanese International Co-operation Agency (JICA) allocated a grant worth KSh 1.85 billion to utility provider, Kenya Power […]
Jul 30, 2024 at 01:38PM
The rate of insurance uptake for businesses globally stands at 7%, and it is only 3% in Africa. It is even lower than the regional rate in Kenya, standing at […]
Jul 30, 2024 at 11:12AM
The International Monetary Fund (IMF) Executive Board has approved US$3.4 billion under the Extended Credit Facility (ECF) for Ethiopia, following 5 years of negotiations. “This is a landmark moment for Ethiopia,” […]
Jul 30, 2024 at 10:44AM
Businesses in Nyeri and Kisumu struggled with sales following 82 per cent and 78 per cent declines in the second quarter of this year, despite individual spending improving, mainly driven […]
Jul 30, 2024 at 09:35AM
Security firm Securex Agencies founder and chairman Balvinder Kishori Lal Sahni has acquired a controlling stake in the company following the Competition Authority of Kenya’s (CAK) approval. Lal Sahni founded […]
Jul 30, 2024 at 08:58AM
Nigeria, a previous bright spot on big oil and gas investors’ radar screens, has dimmed substantially as investor attention is increasingly drawn to new and emerging developments in Namibia, Ivory […]
Jul 29, 2024 at 06:25PM
LemFi is a leading financial technology platform revolutionising how people move their money globally. LemFi serves over 1 million customers in the United States, the United Kingdom, and Canada through […]
Jul 29, 2024 at 04:08PM
Adani Airport Holdings Limited (AAHL), an Indian based company, has proposed to invest US$ 1.84 billion to expand and run the Jomo Kenyatta International Airport (JKIA), the Kenya Airport Authority […]
Jul 29, 2024 at 03:38PM
There have been key developments across the African continent that will shape the markets over the next week and months including Ethiopia’s radical plan to finally float its currency amid […]
Jul 29, 2024 at 03:28PM
Ethiopia has announced plans to liberalize her foreign exchange market effective today, ahead of the IMF meeting. “The liberalization is expected to enhance the competitiveness and inclusiveness of the financial […]
Jul 29, 2024 at 03:09PM
Tax revenues from the country’s 111 betting and gambling companies rose by 26.2 percent in the last financial year, growing to KShs. 24.2bn from KShs. 19.2 bn the previous year. […]
Jul 29, 2024 at 01:09PM
Competition Authority of Kenya (CAK) has approved the indirect control of Base Titanium by EFR Australia PTY Limited. “This approval has been granted based on the finding that the transaction […]
Jul 29, 2024 at 12:16PM
An administrator who had taken charge of two failed startups this year has sought to sell off their assets, which include technological facilities and office furniture – possibly to finalize […]
Jul 29, 2024 at 11:58AM
A Kenyan autodealer, Afrigreen Automobile, is set to benefit from a US$20 million investment from Chinese EV manufacturer Chery – which will be used to establish an assembly plant in […]
Jul 29, 2024 at 09:22AM
Last week, President William Ruto nominated opposition MP John Mbadi to replace Prof. Njuguna Ndungu as the Cabinet Secretary of National Treasury, at a time when the ministry has been under siege. […]
Jul 29, 2024 at 09:14AM
Last week, the Kenya Shilling weakened further against the US Dollar, closing the week at KSh 132.57 from KSh130.73 the previous week. Similarly, the year-to-date performance dropped to 13.1%, buoyed […]
Jul 29, 2024 at 08:58AM
A popular misconception in many government policies is that restrictions and enforced bans can drive up the demand of alternative products even when the market is not incentivized. One of […]
Jul 27, 2024 at 02:15PM
Topics of environmental conservation are incredibly important in today’s global dialogue, but if you are going to ‘talk the talk, you must walk the walk’.
Jul 27, 2024 at 12:21PM
Recent discoveries in Namibia’s Orange Basin suggest it could hold up to three billion barrels of oil and 8.7 trillion cubic feet of natural gas, and the country’s total oil reserves could be nearly equal to Guyana’s at around 11 billion barrels
Jul 27, 2024 at 09:39AM
The European Union (EU) and US have sanctioned more than ten people, including a high-ranking Rwandan military officer, and two entities, for “serious human rights violations and abuses in the […]
Jul 27, 2024 at 08:45AM
Finance and foreign ministers have called for the remaking of the international financial system to improve the prospects of developing countries at a just-concluded United Nations (UN) Member States meeting […]
Jul 26, 2024 at 02:57PM
Ad spend increased by 21 per cent in the fourth quarter of 2023/24 surging to KSh18 billion with the Property, Building, and Accommodation sectors identified as key drivers of the […]
Jul 26, 2024 at 02:39PM
The proposed Livestock Bill 2024 introduced by Kikuyu legislator, Kimani Ichung’wa, will constitute a new Authority mandated to regulate inputs and products of all forms of livestock including cattle, pigs, […]
Jul 26, 2024 at 02:20PM
The Central Bank of Kenya (CBK) is seeking to raise KSh50 billion from a tap sale of reopened 6.5 year and 17 year infrastructure bonds (IFB) first issued in 2023. […]
Jul 26, 2024 at 11:22AM
Regulatory uncertainty, illicit trade in tax evaded cigarettes and currency volatility has eaten into BAT Kenya half year earnings with the profit after tax for the six months ended 30 […]
Jul 26, 2024 at 11:09AM
Most coffee farmers still opt for private warehouses despite the ample warehousing capacity of 946,045 square feet offered by the government through New KPCU. The 13 Dandora warehouses have a […]
Jul 26, 2024 at 10:36AM
Safaricom shareholders have approved a final dividend of KSh0.65 per share, amounting to KSh26.04 billion for the financial year ended 31st March 2024. “In the financial year under review, the […]
Jul 26, 2024 at 10:23AM
In its latest quarterly results for the period ended in June, Airtel Africa has reported a profit after tax of US$ 31 million representing a 120% Year-On-Year growth as the […]
Jul 25, 2024 at 02:30PM
The government will continue to offer the National Health Insurance Fund (NHIF) services through existing framework to ensure there is no gap in health financing. Elijah Wachira, Chief Executive Officer […]
Jul 25, 2024 at 02:20PM
A Gallup Survey on the state of the global workplace has revealed that about 81% of workers in Kenya are actively seeking new jobs or looking out for new opportunities […]
Jul 25, 2024 at 11:33AM
Bayer East Africa has completed transformation of its Pharmaceuticals and Consumer Health business models in East Africa. Speaking about the transformation, Jorge Levinson, Bayer’s Cluster Lead for the Pharmaceuticals Division […]
Jul 24, 2024 at 05:17PM
In the face of ongoing challenges and interruptions of economic affairs in the country, there might be a tendency to think Kenya has lost its momentum. The shortest response I […]
Jul 24, 2024 at 04:53PM
Cat owners in Nairobi city may soon part with an annual license fee, and will be limited to just four cats per household – according to draft animal control regulations […]
Jul 24, 2024 at 04:39PM
Nigerian fintech startup Risevest, which provides users with access to global investments and Nigerian stocks, is reportedly in talks to acquire Hisa, a Kenyan startup that offers access to US […]
Jul 24, 2024 at 12:39PM
Minka, a Colombian fintech that recently announced operations in the region, is trying to resolve the complexities of interbank transactions.
Jul 24, 2024 at 12:24PM
The government has tried to clarify ongoing negotiations that would see a private investor, a subsidiary of Indian conglomerate Adani Group, make significant investments in the Jomo Kenyatta International Airport […]
Jul 24, 2024 at 11:33AM
The true data problem is finding the answer to the question, “What does this data do?”
Jul 24, 2024 at 10:22AM
Effective 22nd August this year, American digital bank, Mercury Bank will close all business accounts in 37 countries around the world – a move that has caused jitters within the […]
Jul 24, 2024 at 10:00AM
Stanbic and Stanchart 2023 Sustainability Reports indicate how the lenders generated, sustained, and maximized positive impact on the society, environment and economy during the year. Key Highlights The number of […]
Jul 24, 2024 at 09:40AM
Africa is exploring innovative financing, including the establishment of African Union Financial Institutions, that is the African Central Bank, the African Investment Bank, and the African Monetary Fund, and the […]
Jul 24, 2024 at 09:21AM
The upswing in economic activity is boosting warehousing demand in Tanzania’s capital city Dar es Salaam, as monthly prime rents remain stable at US$5 per square metre for the past […]
Jul 24, 2024 at 09:14AM
Artificial intelligence (AI) is revolutionizing the trading landscape, offering Kenyan traders new opportunities to enhance their strategies and outcomes. As the global trading environment becomes more complex, AI tools are […]
Jul 23, 2024 at 01:44PM
Kenya’s wholesale prices of goods and services softened to negative territory in the past one year to -1.8% from 11.4% in a similar period 2023, lows last seen in 2016. […]
Jul 23, 2024 at 11:57AM
The African Natural Capital Alliance (ANCA) and FSD Africa have released a report detailing the findings of the nature stress test conducted on the banking systems of five African countries, […]
Jul 23, 2024 at 07:37AM
The Democratic Republic of Congo (DRC) is now the most profitable market for Kenyan banks’ subsidiaries within the East African Community (EAC), overtaking Rwanda in 2023. With the high global […]
Jul 22, 2024 at 05:16PM
Bank accounts with more than half a million shillings declined by 39.89% while accounts with below KShs. 500 grew by 50.4% in 2023
Jul 22, 2024 at 04:45PM
Finding the perfect co-working space in Westlands can be a game-changer for professionals seeking a productive and collaborative environment. Westlands, a commercial hub in Nairobi, offers a variety of co-working […]
Jul 22, 2024 at 04:37PM
Schneider Electric has deployed its MV and LV switch gear in a new East African data center established by IX Africa in Nairobi. “Kenya is a hypercloud-ready region with advanced […]
Jul 22, 2024 at 03:12PM
The COMESA Competition Commission has issued an alert to consumers within its region over vehicle recalls in the United States and Japan due to faulty airbag inflators, citing the ‘high […]
Jul 22, 2024 at 02:57PM
American tech giant, Meta, has disagreed with the decision taken by the Nigeria Federal Competition and Consumer Protection Commission (FCCPC) on Friday, imposing a hefty fine on the company over […]
Jul 22, 2024 at 02:19PM
Last week, the Kenya Shilling weakened marginally against the US Dollar, closing the week at KSh 130.7299 from KSh 129.3 the previous week. Similarly, the year-to-date performance stalled at 17.9%, […]
Jul 22, 2024 at 12:36PM
25 licensed Kenyan commercial banks, more than half of the 39 licensed commercial banks, will have up to three years to raise their core capital to the new KShs. 10bn […]
Jul 22, 2024 at 09:52AM
Credit reports requests declined by 3 percent, from 37.5 million in 2022 to 36.4 million, in 2023, which the CBK attributes to low business activity and lower demand for credit. […]
Jul 22, 2024 at 09:27AM
In 2023, there were six consolidations in the banking sector where four commercial banks and two microfinance banks were either partially or wholly acquired, as the regulator kicks off plans […]
Jul 22, 2024 at 07:01AM
Increase in mobile money and internet banking is eating into the agency banking space with number of transactions through bank agents decreasing by 8.3 percent from approximately 158.4 million transactions […]
Jul 21, 2024 at 09:59PM
US President Joe Biden has decided not to seek reelection, and instead endorsed his Vice President Kamala Harris for the Democratic Party nomination. “I believe that it is in the […]
Jul 19, 2024 at 12:52PM
The INTERPOL has cracked down on a fraudulent operation run by a West African crime ring called ‘Black Axe’, seizing assets worth US$ 3 million and arresting 300 suspects. “The […]
Jul 19, 2024 at 11:50AM
The Central Bank of Kenya (CBK) has missed its target for a second time by 51% in the July bond auction, with investors seeking higher rates to maximize their real […]
Jul 19, 2024 at 11:15AM
The Kenya Association of Manufacturers (KAM) has appointed EABL CEO and Group Managing Director, Jane Karuku, as its chairperson for a two-year term. “As I take up the mantle, I […]
Jul 18, 2024 at 05:16PM
Twelve banks went against the Central Bank of Kenya (CBK) guidelines and Banking Act in 2023, with the reported institutions breaching core capital rules among other guidelines, the regulator said […]
Jul 18, 2024 at 11:46AM
Kenya’s Microfinance Banks (MFBs) sank deeper into loss territory making a combined KSh2.4 billion loss before tax as at December 31, 2023, compared to a loss of KSh980 million as […]
Jul 18, 2024 at 10:50AM
d.light, a company that provides solar-powered products, has raised about US$ 176 million to upscale its PayGo consumer finance offering that will broaden its operations across Kenya, Uganda, and Tanzania. […]
Jul 18, 2024 at 10:20AM
After August 16th this year, OKX users in Nigeria will no longer be able to trade cryptocurrencies within the platform as the company has decided to shut down its services […]
Jul 17, 2024 at 04:54PM
The High Court has barred the Kenya Revenue Authority (KRA) from demanding payment of 16% VAT on golf club membership subscriptions and entrance fees. “While this court as the tax […]
Jul 17, 2024 at 04:18PM
Many smart people believe that the observable universe is a sphere from the perspective of whoever is looking. Some think it is flat. At any rate, both groups concede that […]
Jul 17, 2024 at 04:06PM
The Green manufacturing trend that has seen setting up of assembly plants for e-bikes and e-motorcycles and government policy on industrial parks is contributing to demand in warehousing space across […]
Jul 17, 2024 at 02:24PM
Kenya Electricity Generating Company (KenGen) is planning to add 42.5MW of solar energy in the Seven Forks area to scale up Kenya’s green energy deployment. “France is keen on partnering […]
Jul 17, 2024 at 01:29PM
Financial services conglomerate Old Mutual Kenya has partnered with Absa Bank Kenya to launch an insurance product for SMEs, the two companies said on Wednesday. The package will also include […]
Jul 17, 2024 at 12:51PM
Swahili Village, a Kenyan-owned restaurant chain in the United States, will pay US$ 526,000 (Kshs. 68mn) as restitution after it entered a no-fault settlement agreement with Washington DC to settle […]
Jul 17, 2024 at 11:50AM
Carbon-removal startup, Bio-Logical, intends to scale up their biochar production facility to handle 100,000 tonnes of Carbon dioxide over the next one and a half years, after receiving US$ 1.3 […]
Jul 17, 2024 at 09:07AM
Road traffic death rates in the past decade have increased significantly in Africa, with almost 250 000 lives lost on the continent’s roads in 2021 alone. Conversely, global rates fell by […]
Jul 16, 2024 at 08:36PM
On Tuesday, business activities in various parts of Kenya came to a standstill as demonstrators took to the streets to protest against the government on multiple issues. The impact of […]
Jul 16, 2024 at 03:36PM
Base Titanium has applied for a prospecting license for Titanium, Rutile, Zircon and Ilmenite minerals in Kwale County. “The application may be accessed from the Ministry’s portal vide the website […]
Jul 16, 2024 at 03:09PM
Business came to a standstill for the better part of Tuesday in various parts of Kenya as demonstrators took to the streets protesting against the government on multiple issues. The […]
Jul 16, 2024 at 02:13PM
In its latest move to limit transactions using the dollar, the Tanzanian government has ordered all visiting tourists to pay fees and park charges using the Tanzania shilling. “All tourism […]
Jul 16, 2024 at 11:19AM
Kenya’s office occupancy rate now stands at 77 per cent, mirroring a recovery wave hitting other markets in Africa. In its biennial 2024/25 Africa Report, Knight Frank puts recovery across […]
Jul 16, 2024 at 11:05AM
Kenya’s financial markets are witnessing a transformative period, offering ample opportunities for investors, particularly in Contract for Difference (CFD) stock trading. With a robust economy, increasing foreign investments, and supportive […]
Jul 16, 2024 at 10:20AM
Kenyan online marketplace for skincare products, Uncover Skincare, has raised US$ 1.4 million in its second seed round which will facilitate expansion into other markets such as the United States, […]
Jul 15, 2024 at 05:16PM
Agusto & Co. Market Intelligence (AMI) is a platform designed to provide in-depth market analysis and business intelligence across East Africa. As part of Agusto & Co.’s expansion, AMI aims […]
Jul 15, 2024 at 04:18PM
Over the past 15 years of operations, Bank One, a commercial bank based in Mauritius, has seen its assets grow 10 fold, driven by accelerated customer growth. In 2008, Nairobi […]
Jul 15, 2024 at 04:15PM
The new collaboration between Equity Bank and global money transfer platform ‘Zepz’ is poised to target one million transactions every month, as well as garnering more than US$ 1 billion […]
Jul 15, 2024 at 04:14PM
Technical and legal loopholes in Kenya’s mining industry could be fuelling possible illicit financial flows, denying the country the chance to fully benefit from its abundant minerals, a new report […]
Jul 15, 2024 at 03:48PM
The High Court in Nairobi has nullified the appointment of Anthony Mwaura as the Kenya Revenue Authority’s (KRA) board chair, citing integrity issues at the time of his appointment in […]
Jul 15, 2024 at 01:02PM
Thousands of drivers in the ride hailing industry are currently protesting in Nairobi in a bid to push their respective platforms to ramp up fares per mileage. “We hereby notify […]
Jul 15, 2024 at 12:10PM
The Competition Authority of Kenya (CAK) has approved the KSh 1 billion acquisition deal between Toyota-owned CFAO Motors and Thika-based Kenya Vehicle Manufacturers (KVM) Limited, concluding that the agreement will […]
Jul 15, 2024 at 11:47AM
The Energy Petroleum and Regulatory Authority (EPRA) has revised prices of different petroleum products taking effect last night to mid-August. “As a country, we are grappling with a maintenance deficit […]
Jul 15, 2024 at 10:45AM
Last week, the Kenya Shilling weakened marginally against the US Dollar, closing the week at 129.3 from 128.5 the previous week. The Shilling’s 0.6% downtick dragged the year-to-date performance to […]
Jul 15, 2024 at 10:28AM
Tatu City and Kiambu County are engaged in a public tussle over a demand by Governor Kimani Wamatangi’s government that the former cedes 54 acres for public use, including for […]
Jul 14, 2024 at 06:53PM
The Kenchic Mastercook Chef’s Competition is searching for Kenya’s next great professional and amateur chefs to be featured in its upcoming reality TV cooking competition. Around 20 contestants will compete […]
Jul 12, 2024 at 06:29PM
Qatar Airways has increased its flight frequency from Doha to Entebbe, Uganda, from a daily service to 11 weekly flights, with effect from 1st August to 30th September. “The increased […]
Jul 12, 2024 at 04:42PM
The Social Health Insurance Act (SHIA), alongside the Primary Health Care Act, and Digital Health Act – which were slated to replace the National Hospital Insurance Fund (NHIF) – have […]
Jul 12, 2024 at 04:29PM
Bank customers are less sensitive to charges and costs when selecting a channel to access services from, but would pay an arm and a leg for good experience, the 2024 […]
Jul 12, 2024 at 04:21PM
The International Monetary Fund (IMF) has reassured the Kenyan government of support despite the recent developments that led to the withdrawal of the controversial Finance Bill 2024 and dismissal of […]
Jul 12, 2024 at 01:20PM
71% of more than 1, 000 businesses surveyed by the Kenya National Chamber of Commerce and Industries (KNCCI) expect to generate revenue in Q3, a significant decline from the 89% […]
Jul 12, 2024 at 12:03PM
Amsons Industries, a subsidiary of Tanzanian conglomerate Amsons Group, will consider delisting Bamburi Cement from the NSE once it gets more 75% or more acceptance to its KShs. 23.59bn buyout […]
Jul 12, 2024 at 11:02AM
The President of South Sudan, Salva Kiir, fired his finance minister Awow Daniel Chuang and replaced him with Dr. Marial Dongrin Ater amidst budgetary delays and unpaid salaries. President Salva […]
Jul 11, 2024 at 04:40PM
The government will temporarily operate without Cabinet following dismissal of all Cabinet Secretaries by President William Ruto on Thursday. Deputy President Rigathi Gachagua and Prime Cabinet Secretary Musalia Mudavadi are […]
Jul 11, 2024 at 03:38PM
Concerns over job loss in high greenhouse gas (GHG) emission industries risk undermining public support for climate change mitigation policies, OECD Employment outlook 2024 warns. He says policy makers should […]
Jul 10, 2024 at 06:38PM
Tanzanian conglomerate Amsons Group has made a record $180mn (KShs. 23.32bn) binding offer for 100% ownership of Bamburi Cement, valuing the listed cement manufacturer at Shs. 65 per share. “We […]
Jul 10, 2024 at 04:50PM
In the first half of 2024, Kenya’s financial markets saw a significant surge with the shilling and Nairobi Securities Exchange (NSE), outpacing global peers. Data compiled by The Kenyan Wall […]
Jul 10, 2024 at 03:30PM
The government and KCB Group have come out in defense of the Hustler Fund after the Auditor General pointed out management loopholes likely to lead to loss of public money. […]
Jul 10, 2024 at 02:53PM
The Ministry of Health has said that its options are limited in its ongoing conflict with 3, 000 medical interns who have been protesting outside the ministry’s headquarters in Nairobi. […]
Jul 10, 2024 at 02:27PM
The National Bank of Ethiopia (NBE) has set its initial policy interest rate at 15 percent, setting the rate by accounting for inflation, low base money growth, and a marked […]
Jul 10, 2024 at 02:13PM
ICEA Lion Asset Managers (ILAM) Fahari I-REIT has been admitted to the Unquoted Securities Platform(USP) of the Nairobi Securities Exchange(NSE), following their delisting from the Main Investment Market in February […]
Jul 10, 2024 at 11:25AM
Payments services provider, Africhange, has launched operations in the United Kingdom seeking to capitalize on the rising demand for a convenient remittances platform in the UK-Nigerian corridor. “Africhange’s entry into […]
Jul 10, 2024 at 10:12AM
Tanzania-based fintech, NALA, has raised about US$ 40 million in its Series A round as the remittances platform seeks to establish a new B2B product. “This $40 million funding round […]
Jul 10, 2024 at 09:54AM
With over 32 million smartphones in circulation, Kenya is witnessing a transformative shift in its financial landscape. Fueled by a potent combination of technology, ambition, and entrepreneurial prowess, this newfound […]
Jul 09, 2024 at 04:02PM
The government has reassured Kenyans that any decision to get extra money for road maintenance shall not raise the cost of living, following concerns of hike in fuel prices to […]
Jul 09, 2024 at 01:45PM
After more than a decade of operations, Tanzanian telecommunications company ‘Sasatel’ has bowed out after the country’s Registration, Insolvency and Trusteeship Agency (RITA) announced the liquidation of its assets. “The […]
Jul 09, 2024 at 12:39PM
Moody’s Corporation has fully acquired Global Credit Rating (GCR), a leading credit rating in Africa, accounting for most of the ratings issued in the region. “Moody’s is excited to deepen […]
Jul 09, 2024 at 12:09PM
A ruling issued by a High Court judge yesterday has temporarily barred the establishment of Kenya’s public debt audit taskforce, pending determination of a case filed challenging the process. “Pending […]
Jul 09, 2024 at 11:45AM
The American credit rating firm, Moody’s, has rated the Kenyan government at Caa1 – a drop from the B3 level – after it announced foregoing revenue-raising measures in the Finance […]
Jul 09, 2024 at 11:20AM
The Kenya Revenue Authority (KRA) collected KSh 2.407 trillion in the 2023/24 financial year, an increase of 11.1 per cent compared to KSh 2.166 trillion in the previous financial year. […]
Jul 09, 2024 at 07:58AM
Uganda is lobbying Kenya to lower the $40mn (~KShs. 5bn/UGX 147bn) bond fee for an undeclared surplus it shipped as it starts direct importation of refined petroleum products through the […]
Jul 08, 2024 at 04:47PM
Importers of various manufactured goods will encounter a raft of taxes prescribed by the Common External Tariff (CET) gazetted by the East African Community (EAC) on 30th June this year. […]
Jul 08, 2024 at 03:14PM
The National Environment Management Authority (NEMA) has declared today as the deadline for the use of plastic bags in garbage collection and disposal. “All organic waste generated by households, private […]
Jul 08, 2024 at 03:07PM
Kenya’s devolved units recorded a 43.9 per cent increase in own revenue sources in the first nine months of the FY 2023/24 compared to similar period in the last financial […]
Jul 08, 2024 at 02:31PM
The Single African Air Transport Market (SAATM) is a flagship project of the African Union Agenda 2063, an initiative of the African Union to create a single unified air transport […]
Jul 08, 2024 at 01:58PM
The Competition Authority of Kenya (CAK) has fined the entity formed by the acquisition of LSF11 Skyscraper Holdco S.a.r.l (MBCC Group) by Swiss multinational Sika International KSh 17,492,795.23 for contravening […]
Jul 08, 2024 at 12:48PM
The Kenya Union of Journalists (KUJ) has warned listed media company Standard Group against intimidating some of its radio department staff who have been on strike over unpaid salaries dating […]
Jul 08, 2024 at 12:00PM
The Ethics and Anti-Corruption Commission (EACC) is warning of a new wave of corruption should the National Assembly pass Conflict of Interest Bill as proposed by the Senate. Other highlights […]
Jul 08, 2024 at 08:47AM
Last week, the shilling strengthened marginally against the US Dollar closing the week at 128.5 from 129.5 the previous week. With the growing risk of Kenya’s fiscal sustainability at hand, […]
Jul 08, 2024 at 05:02AM
In a country where agriculture accounts for 20% of the GDP, the role of processing industries in socio-economic development remains invaluable. Not only do such industries drive macroeconomic figures up, […]
Jul 05, 2024 at 05:41PM
Former National Social Security Fund (NSSF) investment manager Francis Zuriel Moturi has been fined more than KShs. 2bn after the High Court threw out his appeal against a ruling by […]
Jul 05, 2024 at 03:01PM
The government has revealed extensive austerity measures to cut KShs. 177bn of the KShs. 346 billion deficit in the FY 2024/5 budget after the flop of the Finance Bill 2024, […]
Jul 05, 2024 at 01:41PM
Britain’s center-left party, Labour, has won the country’s elections with a landslide after clinching about 410 seats in the House of Commons, with the party’s leader Keir Starmer set to […]
Jul 05, 2024 at 01:18PM
Kenya is on the verge of solidifying its trade impact with the United Arab Emirates (UAE) market, just days after a similar trade deal with the European Union (EU) came […]
Jul 05, 2024 at 11:52AM
The government raised KSh 486.5 million against the targeted KSh 20 billion in the July tap sale issue of the FXD1/2023/002, missing the target by 97%. Nevertheless, weekly treasury bills […]
Jul 05, 2024 at 11:15AM
Microfinance institution, Faulu Bank, intends to restrategize its operations by leveraging on digital banking after receiving KSh 900 million from its parent company, Old Mutual. “Over the last 18 months, […]
Jul 04, 2024 at 04:23PM
The health of Kenyan private sector economy deteriorated in the month of June, with business confidence slipping to its lowest since February. Although Kenyan firms also saw a renewed increase […]
Jul 04, 2024 at 03:23PM
Kenya’s import bill to the American Continent more than doubled in the first quarter of 2024 from KSh 28.1 billion in the first quarter of 2023 to KSh 65.1 billion. […]
Jul 04, 2024 at 02:55PM
A report from ‘Africa: The Big Deal’ has indicated that African startups raised US$ 780 million in H1 2024, a slump of 31% compared to H2 2023 – signalling the […]
Jul 04, 2024 at 12:22PM
Ride-hailing app, Uber, has told The Kenyan Wall Street that the onboarding process of new drivers in the platform is verified by an independent third party to filter away individuals […]
Jul 04, 2024 at 11:45AM
Players in Kenya’s tourism and hospitality sector are holding their breath following recent events leading to protests across the country. “We have a few postponements of bookings mainly of events […]
Jul 04, 2024 at 11:03AM
The Kenya National Chamber of Commerce and Industry (KNCCI) has called on the government to expedite engagements to address the concerns raised by protestors to restore normalcy in the economy. […]
Jul 03, 2024 at 05:24PM
Qatar Airways has posted an annual profit of US$ 1.7 billion for the financial year 2023/2024, the highest in 27 years, and 39 per cent higher than the previous year […]
Jul 03, 2024 at 05:03PM
An increase in fares on Madaraka Express (SGR) that took effect in January could be taking a toll on passengers, at least going by the 2024 first quarter performance which […]
Jul 03, 2024 at 04:14PM
The value of public assets traced by the Ethics and Anti-Corruption Commission (EACC) in the financial year 2022/23 declined to KSh 6.6 billion from KSh 11.2 billion in 2021/22. Reports […]
Jul 03, 2024 at 03:57PM
Many tech companies in Africa experience difficulties in expanding from their homegrown markets due to poor capacity building and diminished capital sources. “This Accelerator is vital for growth. What excites […]
Jul 03, 2024 at 03:27PM
Recently IATA announced that Africa’s airlines are expected to earn a collective net profit in 2024 for the second year in a row, reflecting the sector’s resilience in its post-COVID […]
Jul 03, 2024 at 03:27PM
Kenyan digital verification startup, Peleza, has merged with US-based digital security platform, Prembly, to set in motion a new entity that will provide advanced solutions for businesses. “The merger with […]
Jul 03, 2024 at 03:07PM
The Competition Authority of Kenya (CAK) has gazetted a settlement it made with KCB last year following a complaint that the lender had mislead a client on credit card charges […]
Jul 03, 2024 at 11:27AM
Shri Krishana Overseas (SKL Group), a packaging solutions and shoe manufacturing company, has announced its intention to list by introduction on the Nairobi Securities Exchange’s (NSE) Growth Enterprise Market Segment. […]
Jul 03, 2024 at 11:01AM
The Kenya Bureau of Standards (Kebs) has raised alarm over fake motor vehicle safety equipment, especially chevrons and portable triangles, in the market increasing the risk of road accidents across […]
Jul 03, 2024 at 10:13AM
In recent years, the trading market in Kenya has experienced substantial growth, driven by increased internet accessibility, financial literacy, and a growing interest in alternative investment opportunities. This surge has […]
Jul 02, 2024 at 01:08PM
Boeing has restarted wide-body jet deliveries to China that were halted in recent weeks due to a Chinese regulatory review which also stalled new narrow-body deliveries by the U.S. planemaker. Orders of wide-body […]
Jul 02, 2024 at 11:49AM
Cargo clearance at the port is likely to take less time following a joint implementation of pre-arrival processing by the Kenya Revenue Authority, Kenya Ports Authority, Kenya Bureau of Standards, […]
Jul 02, 2024 at 11:34AM
Kenya’s inflation slowed down significantly in the first half of the year with the latest figures showing a 4.6% rise in June, down from 5% the month before. Despite this, […]
Jul 02, 2024 at 11:27AM
Kenya and the European Union (EU) have sealed an Economic Partnership Agreement, opening up duty-free and quota-free access for all Kenya’s exports to the US$ 18 trillion EU market. The […]
Jul 02, 2024 at 11:05AM
The Ministry of Finance and Planning in South Sudan is yet to present its 2024/2025 budget in parliament and has halted government agencies from making any payments supposed to have […]
Jul 02, 2024 at 10:54AM
Ethiopians living in the diaspora can now send money directly to M-Pesa digital wallets after the entity signed a deal with money transfer firm, Dahabshiil, in Addis Ababa. “We are […]
Jul 02, 2024 at 09:29AM
Colombian payments infrastructure startup Minka has launched operations in Eastern and South Africa, the company said in a statement on Tuesday. “Our expansion into Africa is a testament to our […]
Jul 02, 2024 at 08:15AM
NCBA Group has announced the completion of its 100% acquisition of AIG Kenya Insurance Company Limited (AIG Kenya) from its parent company AIG Group, Inc. NCBA plans to tap into […]
Jul 01, 2024 at 04:42PM
The public has a 45 day window to raise any unresolved and outstanding issues with Stanlib Kenya Fund and Reit Managers, Capital Markets Authority (CMA) has advised. “It is notified […]
Jul 01, 2024 at 03:41PM
Uganda has increased import duty from nil in the previous financial year to 25 per cent on fully electric vehicles, hybrid vehicles, and electric motorcycles. On the other hand, companies […]
Jul 01, 2024 at 01:56PM
Zambia Airways has resumed its direct flights from Lusaka, Zambia to Dar es Salaam, Tanzania after a sixteen-year hiatus, seeking to boost trade and the tourism sector for the two […]
Jul 01, 2024 at 12:15PM
The Kenyan unit of global consultancy and professional services firm Ernest & Young will miss out on World Bank Group financed projects for the next 30 months in a settlement […]
Jul 01, 2024 at 09:14AM
Last week, the shilling weakened marginally against the US Dollar closing the week at 129.5 from 128.6 the previous week. “The successful partial refinancing of the Kenya 2024 Eurobond delivered […]
Jul 01, 2024 at 08:54AM
Headline inflation dropped to 4.6 per cent in the month of June after remaining stable in the previous two months at 5 per cent, a new survey from the Kenya […]
Jun 28, 2024 at 05:04PM
Amidst the anti-government protests in the country, Kenyans have realized that traditional internet infrastructure is susceptible to state disruption and thus unreliable. The largest Telco, Safaricom, was blamed for acquescing […]
Jun 28, 2024 at 04:55PM
Kapchorua Tea registered a 27% year on year increase in Profit after Tax (PAT) to KSh 399.4 million from KSh 314.5 million in the financial year ended 31st March 2024. The […]
Jun 28, 2024 at 04:10PM
Williamson Tea Kenya has reported a decline in its full year financial result ending 31 March 2024 from KSh 564.2 million realized during the same period last year to KSh […]
Jun 28, 2024 at 03:24PM
Chinese EV models are looking forward to expanding their influence in the African market, with the latest entry being Neta which signed a deal with auto distributor, Moja EV Kenya, […]
Jun 28, 2024 at 03:10PM
In a landmark ruling with far reaching consequences for banks and other lending institutions, the Supreme Court has affirmed an earlier decision that a bank should seek approval from Treasury […]
Jun 28, 2024 at 01:25PM
Consumers benefited from promotions and special offers for mobile voice services resulting in an increase in mobile voice traffic in third quarter of 2023, according to statistics by the Communications […]
Jun 28, 2024 at 11:44AM
During the week, Treasury bills were undersubscribed for a third week with the under-subscription falling further to 32% from 60% recorded the previous week. Both the 182-day and 364-day papers […]
Jun 28, 2024 at 11:11AM
The African Trade and Investment Development Insurance (ATIDI) will provide a US$ 117 million liquidity cover to Globeleq’s 35 MW Geothermal project in Menengai, which would offset payment defaults by […]
Jun 28, 2024 at 10:02AM
The Central Bank of Kenya (CBK) is looking to raise KSh 30 billion through the reopening of two bonds flagged for budgetary support for the month of July. The FXD1/2023/002 […]
Jun 27, 2024 at 01:53PM
As Kenya reels from protests and uncertainty, even after President Ruto’s announced his administration would be withdrawing the Finance Bill 2024, some foreign companies are considering temporarily pausing their investments […]
Jun 27, 2024 at 11:35AM
The IMF Executive Board completed the third review under the 38-month Extended Credit Facility (ECF) Arrangement for Zambia and approved an augmentation of the arrangement, providing Zambia with immediate access […]
Jun 27, 2024 at 10:32AM
In recent years, the financial landscape in Africa has been evolving rapidly, with technology and internet access paving the way for innovative opportunities. One such opportunity that holds significant promise […]
Jun 27, 2024 at 09:26AM
The Central Bank of Kenya (CBK) has licensed 19 more digital credit providers, bringing the total number of licensed DCPs to 58. The newly licensed companies include Mogo Auto, ED […]
Jun 26, 2024 at 06:17PM
The government’s has shelved plans to raise Ksh 346 billion through the Finance Bill 2024 after President William Ruto said his administration would be withdrawing the controversial bill after widespread […]
Jun 26, 2024 at 02:42PM
Yesterday, the Finance Bill 2024 passed in a majority vote in Parliament, despite protests across the country that it would worsen the future in an already struggling society. While the […]
Jun 26, 2024 at 12:43PM
The government is a step away from enforcing tax measures in the Finance Bill 2024 that would generate extra revenue it needs to support the KSh3.9 trillion 2024/25 budget, despite […]
Jun 25, 2024 at 07:03AM
Protestors returned to the streets on Thursday, despite President Ruto’s administration conceding to demands that the Finance Bill 2024 be withdrawn and his deputy asking for the protests to be […]
Jun 24, 2024 at 03:12PM
The Kenya Bankers Association (KBA) has kicked-off the process of replacing Habil Olaka as the Chief Executive Officer, with 5 July 2024 being the last day for candidates to submit […]
Jun 24, 2024 at 02:37PM
Kenya has cleared the balance US$ 556.97 million of the US$2 billion Eurobond that was due by 24th June 2024, and around which a lot of the fiscal policies have […]
Jun 24, 2024 at 11:55AM
The future of news business continuous on a slippery path with shrinking revenue from adverts and sales while online readers are reluctant to pay for the premium content. The findings […]
Jun 24, 2024 at 10:23AM
The IMF Executive Board has completed the third review of the Extended Credit Facility (ECF) for Tanzania, allowing for an immediate disbursement of about US$ 149.4 million for budget support. […]
Jun 24, 2024 at 08:26AM
Facebook platform is slowly losing its appeal as the preferred platform for finding and distributing news while video networks are on the rise. “A decade ago, only Facebook and YouTube […]
Jun 24, 2024 at 08:16AM
Last week, Kenya’s forex reserves shot up 18.7% to US$ 8,321 million, enough to cover 4.3 months of import cover from US$ 7.012 million, the highest in two years. This […]
Jun 21, 2024 at 04:22PM
African airlines are missing out on revenue due to lack of service in potential routes within and outside the region, aerospace manufacturer Airbus found in a study. “With the region’s […]
Jun 21, 2024 at 11:39AM
On 10 March 2019, Ethiopian Airlines Flight 302 was a scheduled international passenger flight from Bole International Airport in Addis Ababa, Ethiopia, to Jomo Kenyatta International Airport in Nairobi, Kenya. Fast forward to March 21, 2022, a China Eastern […]
Jun 21, 2024 at 09:56AM
Early-stage startups in Africa are set to benefit from investments worth US$ 75 million from Paris-based VC Breega, which aims to make 40 investments from the fund. “Reflecting on my […]
Jun 20, 2024 at 08:03PM
The Finance Bill 2024 has sailed through to the second reading after Members of Parliament voted 204 yes against 115 who voted no. The move now gives the legislatures opportunity […]
Jun 20, 2024 at 05:10PM
The National Assembly has approved the controversial Finance Bill 2024 in its Second Reading, as thousands of voters protest in Nairobi, Mombasa, Kisumu, and other towns across the country, as […]
Jun 20, 2024 at 10:21AM
Ahead of Thursday’s ‘Occupy Parliament’ protests, an international but decentralized group of hackers known as ‘Anonymous’ has warned the Kenyan government to adhere to the rule of law in regard […]
Jun 20, 2024 at 09:25AM
The government will have to slash budgets for crucial departments if MPs do not endorse the revenue-raising measures contained in the Finance Bill 2024, the Treasury told Parliament in a […]
Jun 20, 2024 at 08:47AM
Customs agencies worldwide are grappling with enhancing trade facilitation while ensuring compliance with regulations. The Kenya Revenue Authority (KRA) has introduced the Integrated Customs Management System (iCMS), consolidating various customs systems […]
Jun 20, 2024 at 08:39AM
Value Added Tax is an indirect tax paid by consumers of taxable goods and services in Kenya, including those imported into the country. Eligibility for Value Added Tax Registration in […]
Jun 19, 2024 at 06:13PM
The government has constituted a taskforce to re-look its cybersecurity strategy and advise on emerging technologies like the Artificial Intelligence. The government attributes the huge spike in cyber threat events […]
Jun 19, 2024 at 05:43PM
Two Rivers International Finance & Innovation Centre (TRIFIC), the only services-focused Special Economic Zone (SEZ) in Kenya, has announced that it has secured an investment of Kes.6 billion (US$47.5 million) […]
Jun 19, 2024 at 05:26PM
California-based chip-manufacturer, Nvidia, is now the world’s most valuable company after attaining a market capitalization of US$ 3.34 Trillion on Tuesday. The chip-manufacturer’s stock has been a hot cake since […]
Jun 19, 2024 at 04:57PM
While the finance committee of the National Assembly tabled its report on Tuesday afternoon with a few amendments on tax measures in the midst of ongoing protests in Nairobi and […]
Jun 19, 2024 at 04:28PM
Kenya Airways (KQ) has resumed direct flights between Nairobi and Maputo, capital of Mozambique today, with three flights weekly, on Wednesdays, Fridays, and Sundays. “Today’s launch is a tangible testament […]
Jun 19, 2024 at 03:38PM
The number claims declined by insurance companies in the first quarter of 2024 increased by 85 per cent from 41 to 76, a new report by the Insurance Regulatory Authority […]
Jun 19, 2024 at 09:31AM
Chinese EV-manufacturer, BYD, will supply advanced-tech batteries to Kigali-based EV line, Ampersand, after the two companies signed an MoU on Tuesday. “BYD’s world-leading battery cells and manufacturing scale, combined with […]
Jun 19, 2024 at 09:11AM
The government of Tanzania has listed one more property in its real estate investment across the world after the country’s foreign affairs minister, January Makamba, launched the construction of the […]
Jun 19, 2024 at 09:02AM
Africa Mega Agriculture Center (AMAC) Limited has proposed to acquire 84.42 percent of the total issued share capital of Kenya Orchards Limited (KOL), an agricultural company listed on the Nairobi […]
Jun 19, 2024 at 08:49AM
In the ever-evolving world of finance, investors are continually seeking ways to diversify their portfolios and maximize returns. One investment vehicle that has garnered significant attention is Contracts for Difference […]
Jun 18, 2024 at 02:49PM
The Bank of Uganda (BOU) has placed Mercantile Credit Bank Limited under liquidation, revoked its license and ordered for winding up of its operations after over 30 years of operation. […]
Jun 18, 2024 at 02:02PM
The Council of Ministers in Ethiopia has approved two draft proclamations as an integral part of the National Bank of Ethiopia’s (NBE) economic reform agenda. “These legislations represent a significant […]
Jun 18, 2024 at 01:33PM
Parliament’s committee on finance has proposed some amendments in the Finance Bill 2024 following uproar from the public and industries over the implications of the Bill. Small and Medium Enterprises […]
Jun 18, 2024 at 12:48PM
Thousands of Kenyans have joined protests against the Finance Bill 2024, as the controversial bill comes up for its second reading. The protesters believe that an array of taxes listed […]
Jun 18, 2024 at 11:35AM
On Thursday 13th June 2024, East African countries rallied to present their 2024/25 budget statements to their respective parliaments, each with views tailored for their countries. Uganda In Uganda, Finance […]
Jun 18, 2024 at 10:49AM
The Pending Bills Verification Committee led by Edward Ouko has received 94,997 pending bill claims valued at KSh 662.3 billion. Other roles are to identify any cases where there may […]
Jun 18, 2024 at 10:02AM
Last week, the shilling strengthened 1.06 percent against the US dollar to 128.66 from 130.04 the week before, according to the CBK Weekly Bulletin. “Our exchange rate is determined by […]
Jun 18, 2024 at 09:47AM
More than 600,000 users of the ‘Pochi La Biashara’ payment service can now borrow small loans with a one-time access fee of 2.76% on the principal amount, courtesy of a […]
Jun 14, 2024 at 02:09PM
During the 2024/2025 Financial Year Budget reading in the National Assembly yesterday, Cabinet Secretary for Finance and Planning Njuguna Ndung’u mentioned that plans were underway to migrate all public entity […]
Jun 14, 2024 at 01:55PM
The government is planning to suspend purchase of furniture for a period of one year, cut down on foreign travels and restrict all trainings to within government institutions in an […]
Jun 14, 2024 at 11:05AM
Piloting of government’s end to end e-procurement system will continue up to the end of this year, in a move aimed at weeding out corruption in public procurement and disposal […]
Jun 14, 2024 at 10:44AM
The 2024/2025 Financial Year Budget has seen the National Government allocate KSh 444.5 billion to all the 47 counties, a 15% increase from the previous year’s share. Counties in the […]
Jun 14, 2024 at 10:14AM
Treasury Cabinet Secretary, Prof Njuguna Ndung’u has presented a plan to raise the minimum core capital requirement for banks from the KSh 1 billion to KSh 10 billion. “This is […]
Jun 14, 2024 at 09:19AM
Global payment platform, Visa, will throw its weight behind Nigerian startup ‘ThriveAgric’ as it reveals plans to set up farmer-support hubs in five counties across Kenya. “Smallholder farmers are essential […]
Jun 13, 2024 at 06:19PM
Treasury cabinet secretary Njuguna Ndungu on Thursday presented to Parliament the Financial Year 2024/2025 budget, which the Kenya Kwanza administration says will build upon progress so far made to revitalize […]
Jun 13, 2024 at 04:06PM
Dividends for purposes of taxation is any distribution, whether in cash or kind, made before or during winding-up by a company to its shareholders concerning their equity interest in the […]
Jun 13, 2024 at 02:54PM
South African firm, Multichoice has released its annual financial report ending March 31st, revealing a loss before tax of US$ 38 million and a 9% decline in active subscribers of […]
Jun 13, 2024 at 12:19PM
Multiple sectors have lobbied parliament against proposed tax measures in the Finance Bill 2024, but the feeling is that many, if not all, of the proposals will pass despite the […]
Jun 13, 2024 at 12:17PM
BlackRock, the world’s largest asset manager, plans to liquidate nine exchange-traded funds (ETFs), including the $401 million iShares Frontier and Select EM ETF (FM) Fund which had invested in Kenya. […]
Jun 13, 2024 at 10:26AM
Kenyan B2B e-commerce startup, Wasoko, will no longer be compelled to retain nine ex-employees in its payroll after a court decision revoked the decision made in February this year. “Before […]
Jun 13, 2024 at 09:59AM
The Central Bank of Kenya (CBK) has raised KSh 30.17 billion from its June auction of the reopened five-year and ten-year bonds whose sale closed on Wednesday. The weighted average […]
Jun 13, 2024 at 08:10AM
Ride-hailing companies have protested some some of the proposed tax measures in the Finance Bill 2024, arguing that they will make it harder for them to do business, force them […]
Jun 12, 2024 at 05:58PM
The citizens of the European Union (EU) came together on Sunday to vote for a new parliament, and the results speak volumes, raising questions about the future of globalization. The […]
Jun 12, 2024 at 05:25PM
Output price fluctuations, lack of collateral and high interest rates continue to lock most Kenyan farmers from loans, a new survey by the Central Bank of Kenya (CBK) states. “High […]
Jun 12, 2024 at 04:39PM
4G Capital, a leading provider of tailored financial solutions to MSMEs in Africa, has announced the successful launch of a Kenya Shilling 500 million debt programme. This milestone was achieved […]
Jun 12, 2024 at 03:11PM
The Kenya Bankers Association (KBA), in partnership with the Central Bank of Kenya (CBK) and other stakeholders, this week launched the ‘Chora Plan’ (Plan Your Money) financial literacy campaign aimed […]
Jun 12, 2024 at 03:06PM
Customers using Kenya Power pre-paid meters will be expected to embark on a free update exercise before the end of August this year to prevent them from being locked out […]
Jun 12, 2024 at 11:11AM
The Private Security Regulatory Authority has ordered security firms to comply with the set minimum wage and pay its guards not less than KSh 30,000. “In furtherance of its mandate […]
Jun 12, 2024 at 10:45AM
A series of submarine fiber cable cuts this year have called into question the resilience of Africa’s internet infrastructure and its ability to serve the tech ventures as they scale […]
Jun 12, 2024 at 10:38AM
The government has written-off historical debts amounting to Ksh6.8 billion owed by coffee farmers nationwide, knocking down one of the many recommendations by the National Task Force on Coffee Sib-Sector […]
Jun 12, 2024 at 09:37AM
Fuel prices are likely to rise if parliament approves a proposal by the government to raise the fuel levy from KSh. 18 to KSh. 25, in the first proposed review […]
Jun 12, 2024 at 09:31AM
Cabinet has approved the divestiture of the state’s shareholding in six listed firms on the Nairobi Securities Exchange (NSE), including its shareholding in the bourse itself. “The divestiture in the […]
Jun 11, 2024 at 06:16PM
The global oil and gold markets are poised for a week of heightened anticipation as critical economic data releases and central bank decisions loom large. These events will shape the […]
Jun 11, 2024 at 03:30PM
The Insurance Regulatory Authority (IRA) has dismissed reports on the closure of Directline Assurance company, terming them illegal. “The Insurance Regulatory Authority (the Authority) has taken note of communication released […]
Jun 11, 2024 at 02:55PM
The month of May saw a 40% increase in startup funding across Africa compared to April this year, according to the latest figures from Africa: The Big Deal. “Since the […]
Jun 11, 2024 at 12:49PM
Access Bank PLC will consolidate its entry into the East African market after acquiring the African Banking Corporation of Tanzania (ABCT) bank, a subsidiary of Atlas Mara Ltd. “This strategic […]
Jun 11, 2024 at 11:32AM
Kenyan firms are looking into cost management, restructuring, diversification of operations and lobbying with relevant stakeholders as alternatives to managing external and internal risks anticipated in the next twelve months. […]
Jun 11, 2024 at 11:10AM
The International Monetary Fund (IMF) has reached a staff level agreement to provide US$ 976 million for Kenya, subject to approval by the IMF Executive Board. During meetings held in […]
Jun 11, 2024 at 09:44AM
The partnership between the European Investment Bank (EIB)- the European Union’s investment and lending arm – and local banks in Kenya has been lauded by beneficiaries in the private sector […]
Jun 10, 2024 at 05:09PM
Counties will get KSh 14.69 billion more beginning July 1 from KSh 385.4 billion this financial year to KSh 400.1 billion. The announcement was made when President William Ruto signed […]
Jun 10, 2024 at 03:13PM
During a recent webinar hosted by The Kenyan WallStreet in collaboration with Tarra Agility Africa, a boutique international tax and legal advisory firm, we delved into the business tax landscape […]
Jun 10, 2024 at 02:02PM
Opera Software has been barred from blocking Kareco Holdings Limited subsidiary, alias Odibets from accessing its opera mini browser and redirecting its customers to other betting sites. “Opera Software Ireland […]
Jun 10, 2024 at 01:41PM
African sports stakeholders will meet in Kigali, Rwanda this September for the inaugural SportsBiz Africa Forum which will set the continent’s strategy in fostering investment and management of the industry. […]
Jun 10, 2024 at 12:18PM
From late last year, spilling over to 2024, investors exhibited jittery concerns regarding Kenya’s debt sustainability. This was however cooled down by the government’s candid move to go for a […]
Jun 10, 2024 at 11:36AM
Norfund, a Norwegian investment fund, has pledged to inject US$ 307 million towards a number of e-mobility projects in Kenya, in support of the country’s sustainability goals. “Our visit to […]
Jun 07, 2024 at 04:45PM
Kenya’s banking industry classifies cyber threats as the key risk slowing investment in innovation, even as most of their clients prefer services served through digital platforms. 96 percent of the […]
Jun 07, 2024 at 04:11PM
Listed media conglomerate Nation Media Group (NMG) has announced a major restructuring that will see it laying off an unspecified number of employees, after months of speculation that it would […]
Jun 07, 2024 at 11:18AM
African airlines are experiencing enhanced revenue performance, following a growth in traffic. AFRAA’s estimate shows operating revenue for March 2024 at US$ 1.74 billion, a significant increase from US$ 1.39 […]
Jun 07, 2024 at 10:23AM
The Royal Bank of Canada (RBC) has promoted Kenya born Donald Sanya to the position of Chief Executive Officer of its USA Asset-management business, which oversees $453 billion in assets […]
Jun 06, 2024 at 04:34PM
Grants awarded by the Strengthening Kenya Intermediaries and Innovation Ecosystem (SKIIVE) to six digital solutions in the country enabled them to upscale operations. “The success of the SKIIVE Project underscores […]
Jun 06, 2024 at 03:36PM
The government will use part of US$ 1.2 billion Development Policy Operations (DPO) loan approved by the World Bank Board last week to settle the remaining part of the Eurobond […]
Jun 06, 2024 at 12:59PM
Ride hailing platform Uber has denied that it has any plans to leave the Kenyan market, a day after its representatives and Bolt’s told a parliamentary committee that new taxes […]
Jun 06, 2024 at 10:30AM
The National Bank of Rwanda (NBR) will join the list of other countries globally that have introduced digital currencies as alternatives to physical cash. “The CBDC would be a digital […]
Jun 06, 2024 at 09:36AM
Kuza Asset Management has hit the KSh 1 billion threshold in assets under management, the fund manager said in a statement “Currently we have 10 products that cater to retail […]
Jun 06, 2024 at 09:07AM
The Central Bank of Kenya’s (CBK) Monetary Policy Committee (MPC) has retained maintained the benchmark rate at 13.00 per cent for a 2nd time this year. “Overall inflation is expected […]
Jun 06, 2024 at 08:54AM
Some Kisumu County suppliers have resorted to threats and other tactics to pressure the county government to settle their pending bills, highlighting the economic pressure the sticky issue has morphed […]
Jun 05, 2024 at 04:31PM
Activities in Kenya’s private sector during the month of May defied the effects of above-normal rains witnessed to post the sharpest upward trend in activity recorded in 20 months. “Private […]
Jun 05, 2024 at 03:26PM
Ride hailing is one of the fastest growing segments of Kenya’s transportation industry – however, shaking up an industry which contributes over $11B USD to the economy annually is no […]
Jun 05, 2024 at 12:37PM
Barely two weeks after going under administration, e-commerce platform, Copia has reportedly stopped its delivery service in six towns as the company continues its restructuring attempts. “We regret that we […]
Jun 05, 2024 at 12:15PM
The Kenya Bankers Association (KBA) has faulted the new proposed tax measures in the Finance Bill 2024, arguing that it will raise the total tax on financial services, with far […]
Jun 05, 2024 at 12:01PM
Income tax stands as a direct levy imposed on various sources of income, including business profits, employment wages, rental earnings, dividends, interests, and pensions, among others. Collection Methods: The mechanisms […]
Jun 05, 2024 at 11:28AM
Nigeria has released 98% of blocked airline funds, and the International Air Transport Association (IATA) now says just US$ 19 million of blocked funds remains due to the Central Bank’s […]
Jun 05, 2024 at 09:58AM
The Korean Exim Bank has signed two agreements with the Kenyan government to invest more than KShs 30 billion in the Konza Technopolis in Machakos County. “The Creative sector in […]
Jun 04, 2024 at 05:38PM
Standard Chartered Kenya has rolled out a new mobile loan app called SC Juza where Kenyans can borrow short-term loans repayable within 60 days, with its CEO calling it “the […]
Jun 04, 2024 at 05:17PM
The upcoming week promises a whirlwind of activity for oil and gold traders, with crucial US job reports that include non-farm payrolls and unemployment data, as well as lingering geopolitical […]