(NAIROBI, KENYA) – Kenya will increase its stake in the proposed KES 2 trillion ($15.4 billion / GBP 11.9 billion) Dangote refinery in Lamu beyond the 10% it has been allocated if other East African countries decline to take up their share, National Treasury Cabinet Secretary John Mbadi has said.Continue Reading
(NAIROBI, KENYA) – Kenyan Eurobond yields have fallen in recent weeks, resisting pressure from rising interest rates on similar instruments in advanced economies such as Japan and the United States, in a sign that Kenya can raise funds cheaply in international capital markets. Yields on all but one Eurobond haveContinue 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) – 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
(LAGOS, NIGERIA) – Dangote Group has opened talks with Nigeria’s securities regulator to increase the number of shares offered in its refinery initial public offering, as the issuance draws strong demand from retail and institutional investors. The IPO, Africa’s largest, seeks to raise KES 207.5 billion ($1.6 billion / GBPContinue Reading
(NAIROBI, KENYA) – The number of Sacco accounts holding deposits above KES 1 million ($8,500 / GBP 6,500) rose 10% to 154,000 last year, even as most savers continued to hold balances below KES 50,000 ($425 / GBP 325), highlighting persistent inequality in Kenya’s savings sector. Data from the SaccoContinue Reading
(NAIROBI, KENYA) – Kenya’s banking regulator has raised the minimum number of directors in banks and capped the tenure of board chairmen at nine years, in new draft rules aimed at strengthening board independence. The Central Bank of Kenya (CBK) proposed in draft prudential guidelines that chairmen must be independentContinue 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
(NAIROBI, KENYA) – Kenya’s banking regulator has proposed new rules requiring lenders to seek approval before transferring business, assets or liabilities between subsidiaries within a banking group. The Central Bank of Kenya (CBK) published draft prudential guidelines to govern hive-down transactions, where a bank moves a business unit, assets, liabilitiesContinue 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
