(NAIROBI, KENYA) – Banks and other financial institutions in Kenya now face fines of up to KES 20 million ($155,000/GBP 122,000) for breaking new terror financing rules as the country works to stop suspicious financial flows. New regulations from the Ministry of Interior and National Administration raise the maximum penaltyContinue Reading
(NAIROBI, KENYA) – A fraudulent investment scheme that froze millions of shillings of Kenyan investors’ cash in 2025 was run by the same person behind the recently collapsed Quant Vest Stock Exchange (QVSE), the Business Daily has established. The earlier scheme, known as PCEX, operated under the banner of GlobalContinue Reading
(NAIROBI, KENYA) – Kenya’s central bank rejected KES 31.2 billion ($241 million / GBP 182 million) in bond offers in September’s second auction after investors demanded higher returns on inflation and Middle East war fears. The Central Bank of Kenya (CBK) was targeting KES 60 billion ($464 million / GBPContinue Reading
(NAIROBI, KENYA) – A former associate has sued Rock Investment Bank for KES 137.2 million ($1.06 million / GBP 803,000) in commission tied to the firm’s advisory role on the Kenya Pipeline Company initial public offering in March 2026. The government raised KES 106 billion ($818 million / GBP 620Continue Reading
(NAIROBI, KENYA) – Four countries supplied 55.1% of Kenya’s imports in the first half of 2026, exposing the country’s supply chain to disruption on key trade routes as the Middle East crisis escalates. China, India, Saudi Arabia and the UAE accounted for KES 898.8 billion ($6.9 billion / GBP 5.2Continue Reading
(NAIROBI, KENYA) – Kenya’s domestic tourism fell below target in the year to June 2026 as the rising cost of living squeezed household budgets, even as overall sector earnings hit a record KES 564 billion ($3.9 billion / GBP 2.9 billion). Domestic bed-nights reached 5.1 million in financial year 2025/26,Continue Reading
(NAIROBI, KENYA) – South Africa’s Vodacom Group will appeal and seek a stay order to keep its majority ownership of Safaricom after Kenya’s High Court nullified its purchase of an extra 20% stake in the telecoms operator on 30th June 2026. The court ruled on Tuesday that the National TreasuryContinue Reading
(NAIROBI, KENYA) – A dispute between former shareholders and business partners of Savannah Cement over a contested KES 4.5 billion ($34.8 million / GBP 25.7 million) bank loan has moved to Kenya’s Court of Appeal. Savannah Heights Limited and businessman John Gachanga Kaiganaine have challenged a High Court decision thatContinue Reading
(NAIROBI, KENYA) – Kenyan startup Twiga Foods has entered administration amid financial turmoil, joining a group of 13 once promising ventures that have collapsed over the past five years after raising capital in excess of KES 93 billion ($719 million / GBP 532 million). The business failures, including that ofContinue Reading
(NAIROBI, KENYA) – The owners of Nairobi’s 14 Riverside complex want Kenya’s High Court to rule on whether a section of the Banking Act is unconstitutional for allowing interest on court-awarded debts to exceed the principal amount, exposing borrowers to disproportionate claims. Cape Holdings Limited and its directors are challengingContinue Reading
