(NAIROBI, KENYA) – Djibouti’s state-owned geothermal agency has offered to pay Kenya Electricity Generating Company (KenGen) about KES 129 million ($1 million) as a first instalment towards a five-year-old debt from a geothermal drilling contract. KenGen says in its latest annual report that the Djibouti Office of Geothermal Energy DevelopmentContinue Reading
(NAIROBI, KENYA) – Foreign investors sold 23.6 million KCB Group shares valued at KES 2.1 billion ($16.2 million) at the current market price in the three months to September, while local investors increased their holdings in the lender over the same period. Latest shareholder profile shows foreign holdings fell fromContinue Reading
(NAIROBI, KENYA) – Payments firm Pesapal and Drift Consult have partnered to drive adoption of RACK, an integrated business management and payments solution aimed at helping retail and hospitality businesses across Africa gain greater control, visibility and efficiency in their operations. The partnership comes as retailers and hospitality businesses acrossContinue Reading
(MAKUENI, KENYA) – Kenya’s Thwake Multipurpose Dam is on track for completion after the African Development Bank (AfDB) provided new funding to bridge a shortfall that had slowed construction, raising hopes for millions of residents in the water scarce Lower Eastern region. The 80.5 metre high dam, being built atContinue Reading
(NAIROBI, KENYA) – Telposta Pension Scheme sold shares worth KES 361.28 million ($2.8 million) in 11 Nairobi Securities Exchange listed firms in the financial year ended June 2026 to settle retiree obligations and fund property renovations. The disposals represented a 41 fold increase from the KES 8.78 million ($67,900) worthContinue Reading
(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 charged three traders over a KES 3.9 billion ($30.2 million) value added tax fraud scheme that used fictitious electronic invoices worth about KES 25 billion ($193.8 million) over five years, with prosecutors seeking more suspects. The court heard that the three traders were part ofContinue 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) – Kenya’s mobile money providers will be allowed to invest customer deposits in government securities and interest-bearing bank accounts under a new payments Bill, potentially generating significant returns from the KES 41.7 trillion ($329 billion / GBP 251 billion) moved through M-Pesa alone each year. The National PaymentsContinue Reading
(NAIROBI, KENYA) – Kenya’s High Court has rejected a petition to liquidate the Kenya Union of Savings and Credit Co-operatives (Kuscco) over an unpaid KES 108.8 million ($842,000 / GBP 648,000) debt, ruling that a co-operative society cannot be wound up under the Insolvency Act. The court found that Kuscco,Continue Reading
