Umba, a Nairobi‑headquartered digital bank operating in Kenya and Nigeria, has successfully closed a $5 million debt financing round to accelerate the expansion of its lending portfolio, advance its proprietary credit‑scoring technology, and fuel entry into new East and West African markets within the next 12 months Tech In AfricaFintech News Africa. Led by Star […]

After the dramatic collapse of CBEX—a trading platform that left thousands of Kenyans unable to withdraw their funds—the Capital Markets Authority (CMA) has stepped in to remind investors of the only online forex brokers, market‑making dealers, and portfolio managers legally licensed to operate in Kenya. This comprehensive guide explores the CBEX fallout, profiles the various […]

In a move that underscores the evolving dynamics of Africa’s banking sector, KCB Group PLC has secured critical regulatory approvals from both the Central Bank of Kenya (CBK) and the National Treasury. This pivotal clearance paves the way for the sale of National Bank of Kenya Limited (NBK) to Nigeria’s Access Bank PLC—a deal that […]

In a strategic move aimed at reducing its mounting debt and streamlining its operations, West Africa-focused oil and gas explorer Tullow Oil has announced plans to sell its Kenyan assets to Gulf Energy Ltd for at least $120 million. The transaction is structured to include three separate payments of $40 million each, with Tullow maintaining […]

In a landmark move set to transform Kenya’s agricultural landscape, the government today lauded Heifer International’s Practice for Change (P4C) Signature Program, valued at Sh12.4 billion (approximately $95.7 million). The five-year initiative is designed to reach 625,000 smallholder farmers nationwide and marks a significant stride toward modernizing rural livelihoods through climate-smart agriculture, enhanced market access, […]

Stanbic Bank Kenya is taking a major leap forward in bolstering trade between Kenya and China by launching the Africa-China Trade Platform—a digital hub designed to simplify cross-border transactions, reduce currency risk, and empower Kenyan businesses to tap into the vast Chinese market. The initiative, announced during the Chinese Economic Forum held in Nairobi, is […]

In a grand demonstration of Africa’s evolving business landscape, the WCF Africa Summit 2025 was officially launched in Nairobi this Wednesday at the renowned Kenyatta International Convention Centre (KICC). With the presence of top government officials, members of the diplomatic corps, development partners, chamber leaders, and a vibrant cross-section of the business community, the summit […]

Kenya Power, in a significant boost to Kenya’s electrification agenda and socio-economic development, has announced an ambitious plan to connect 150,000 new customers to the national electricity grid under the Last Mile Connectivity Project (LMCP) Phase VI. Funded by a generous allocation from the African Development Bank (AfDB), the project will extend across 45 counties—excluding […]

In a move that underscores both determination and transformation, Harambee Deposit Taking Sacco has written off its entire investment of Ksh184 million (approximately $1.42 million) in the Kenya Union of Savings and Credit Co-operatives (Kuscco) as part of a broader strategy to strengthen its financial foundations. The decision, which comes amid the Sacco’s ambitious plans […]

Kenya’s government announced a new funding strategy aimed at reviving the stalled extension of its Standard Gauge Railway (SGR) from Naivasha to Malaba—a critical corridor poised to extend into Uganda, Rwanda, South Sudan, and even the mineral-rich Democratic Republic of Congo (DRC). The new proposal, unveiled amid growing concerns over fiscal constraints and evolving financing […]