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In a groundbreaking move set to transform Kenya’s transportation infrastructure, American asset management firm Everstrong Capital has partnered with CPF Capital & Advisory Ltd. to raise $1 billion (KSh 129 billion) for the ambitious Usahihi Nairobi-Mombasa Expressway project. This initiative marks a significant shift in Kenya’s approach to financing large-scale infrastructure developments, emphasizing local investment […]

The Central Bank of Kenya (CBK) has rejected a new bond trading platform proposed by commercial banks, known as the East African Bond Exchange (EABX), in favor of introducing market makers to stabilize the government securities market. The rejection has sparked discussions between CBK, the National Treasury, and financial regulators on how best to enhance […]

In a strategic move poised to redefine Kenya’s financial landscape, Safaricom and the Kenya Bankers Association (KBA) have jointly proposed the adoption of Pesalink as the nation’s next-generation fast payment system (FPS). This collaborative initiative aims to streamline digital transactions across the country by leveraging existing infrastructure, thereby promoting efficiency and cost-effectiveness. The Proposal: Leveraging […]

Standard Chartered and Kenya Airways (KQ) have announced a strategic partnership that is set to redefine travel experiences for their customers. The collaboration, officially signed at Standard Chartered’s Head Office, aims to bring exclusive travel benefits, discounts, rewards, and enhanced experiences to Standard Chartered’s affluent banking clients and members of Kenya Airways’ Asante Rewards program. […]

In a significant move, the Kenyan government has terminated a high-profile project aimed at bolstering security at its entry points through an advanced electronic visitor tracking system. This decision comes amidst a backdrop of international scrutiny and domestic concerns regarding the project’s transparency and the integrity of its primary contractor, the Adani Group. Project Overview […]

Kenya Power and Lighting Company (KPLC) has posted a record-breaking profit increase of 3025.4% in the six months ending December 2024, a dramatic turnaround driven by reduced finance costs, increased electricity sales, and lower costs of sales. This remarkable performance has prompted the company to declare an interim dividend of KSh 0.20 per share, marking […]

In a strategic move to bolster Kenya’s burgeoning digital landscape, TikTok has announced partnerships with Aleph Holdings and Wowzi. This collaboration aims to enhance the platform’s presence in Kenya’s creative and business sectors, providing tailored solutions for advertisers and new opportunities for content creators. Aleph Holdings: Streamlining Advertising for Kenyan Businesses Aleph Holdings will assume […]

Introduction In a significant move to enhance financial convenience and global spending capabilities, KCB Bank Kenya, in collaboration with Mastercard, has introduced Kenya’s first multi-currency prepaid card. This innovative payment solution is designed to streamline international transactions, allowing individuals and businesses to conduct seamless payments across multiple currencies and global destinations. The launch of this […]

Kenyan coffeehouse chain Java House is set for yet another change of ownership as Actis, a UK-based private equity (PE) firm, exits the company. The new owners, Alterra Capital and Phatisa Group, will acquire majority and minority stakes, respectively, with control rights, marking Java House’s fourth ownership transition in 12 years. This move underscores the […]

In a major development for Kenya’s economic outlook, Moody’s Investors Service has upgraded the country’s sovereign credit rating to “positive” from “negative,” citing an easing of liquidity risks and potential improvements in debt affordability. The announcement, made on January 25, 2025, comes seven months after the agency had downgraded Kenya’s rating, a move that had […]