(NAIROBI, KENYA) – Kenya Pipeline Company is considering a set of financing options to protect its cash reserves for heavy capital spending on projects in the medium term. The recently listed utility is weighing the sale of infrastructure bonds to raise cheap capital and the issue of bonus shares toContinue Reading
(NAIROBI, KENYA) – Kenya has overtaken Ethiopia to become East Africa’s largest economy, ending five years of Ethiopian dominance after a sharp devaluation of the birr reduced Ethiopia’s gross domestic product in dollar terms. The IMF expects Kenya to overtake oil producing Angola in 2028 and move into sixth place.Continue Reading
(NAIROBI, KENYA) – Kenya’s digital credit market has reached a new regulatory milestone after the Central Bank of Kenya licensed 29 additional Digital Credit Providers, bringing the total number of regulated lenders to 281. The latest approvals follow the licensing of 25 digital lenders in July 2026, as the regulatorContinue Reading
(NAIROBI, KENYA) – Kenyan investors will be able to buy shares in the Dangote Petroleum refinery for as little as KES 490 ($3.80 / GBP 2.90) through the Nairobi Securities Exchange under a new investment vehicle awaiting regulatory approval. Investors will also be able to purchase shares valued at KESContinue Reading
(NAIROBI, KENYA) – Kenyan commercial banks increased agricultural lending by a record KES 53.1 billion ($410 million / GBP 309 million) in the year to June 2026, as stronger farm incomes and improved cash flows made the sector more attractive for credit. Agricultural credit rose 35.1% to KES 204.2 billionContinue Reading
(LAMU, KENYA) – Engineering and technology contracts worth more than $100 million (£78 million) have been awarded for Kenya’s $16 billion (£12 billion) oil refinery project in Lamu, as construction began on what will be East Africa’s largest industrial facility. India’s state-owned Engineers India Limited secured a contract exceeding $450Continue Reading
Zimbabwe Tycoon Wicknell Chivayo Dies in Helicopter Crash at 43, Leaving Behind a $100 Million Fortune and a Trail of Unfinished Business (MARONDERA, ZIMBABWE) – Wicknell Munodaani Chivayo, the Zimbabwean businessman whose name became shorthand for government tenders, flashy gifts and a fortune estimated at more than $100 million, diedContinue Reading
(NAIROBI, KENYA) – Kenyan businessman Peter Muthoka earned a profit of KES 2.5 billion ($19.3 million / GBP 14.8 million) from the sale of his airport services firm Transglobal Cargo Centre (TCC) to Turkish ground handling company Celebi, after selling the business for close to twice the value of itsContinue Reading
(NAIROBI, KENYA) – Kenya’s digital financial sector faces sweeping changes under a proposed law that would require payment providers to connect with rival systems and allow customers to share their financial data with third parties, potentially opening a market that processes billions of dollars annually. The National Payment System Bill,Continue Reading
(NAIROBI, KENYA) – The operator of a Kenyan investment scheme cited in court for fraud is recruiting thousands of investors into a new platform, asking them to deposit $400 (KES 51,800 / GBP 307) to unlock funds estimated at close to KES 1 billion ($7.7 million / GBP 5.9 million)Continue Reading
