(NAIROBI, KENYA) – Nigerian billionaire Aliko Dangote has acquired a 24.76% stake in Kenya Pipeline Company (KPC) for KES 42.5 billion ($328 million), outmanoeuvring global oil majors that had stalled on the deal. The acquisition makes Dangote the second-largest shareholder in KPC behind the Kenyan government. It also positions himContinue 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
(DAR ES SALAAM, TANZANIA) – Tanzania’s Amsons Group has acquired the Tanzanian downstream business of Geneva-based Oryx Energies in a deal worth more than $230 million (KES 29.9 billion), giving the local conglomerate control of key fuel storage, retail and distribution assets in the country. The transaction transfers Oryx’s retailContinue Reading
(NAIROBI, KENYA) – The Data Management Association (DAMA) Kenya Chapter has launched in Nairobi, creating a national body for data professionals and setting a target to train more than 10,000 practitioners over the next three years. The training programme will run through a partnership with Pathways International, the association saidContinue Reading
(NAIROBI, KENYA) – A UK government investment arm is buying a 6.5% stake in Kenyan retailer Quickmart through its initial public offering (IPO) for KES 1.94 billion ($15 million), the latest foreign anchor investment in the chain. The Foreign, Commonwealth and Development Office (FCDO) will buy 260 million of theContinue Reading
(NAIROBI, KENYA) – Kenya’s High Court has ordered the Kenya Airports Authority (KAA) to pay a contractor KES 1.25 billion ($9.62 million) in damages, ending a long-running dispute over a terminated airstrip rehabilitation contract that has now grown to roughly KES 2 billion ($15.4 million) with interest. The court rejectedContinue Reading
(NAIROBI, KENYA) – Russia’s full-scale invasion of Ukraine has reshaped its relationship with Kenya, with arms deliveries drying up while wheat exports have surged, according to trade and defence data. Kenya’s imports of major Russian weapons have fallen to marginal levels, while Russian wheat now accounts for roughly 71% ofContinue Reading
(NAIROBI, KENYA) – Kenya plans to open 21 grain warehouses to private investors across nine counties in a move aimed at curbing exploitative middlemen and brokers in the agricultural supply chain. The National Cereals and Produce Board (NCPB) will drive the concession deals under the warehouse receipts system (WRS). TheContinue Reading
(ELDORET, KENYA) – Kenya has announced plans to cut income tax for low earners, exempt cheap land deals from stamp duty and remove import duty on mobile phones, measures worth billions of shillings in relief to households. Workers earning less than KES32,333 ($250) a month will pay reduced income tax,Continue Reading
(NAIROBI, KENYA) – Kenyan state parastatals have sold a combined 24.76% stake in Kenya Pipeline Company (KPC) to an unnamed foreign investor, less than eight months after spending billions of shillings to buy the shares. A source familiar with the deal said at least eight parastatals sold their shares inContinue Reading
