The East African Community (EAC) is undergoing a dynamic transformation, with businesses from Uganda, Tanzania, Rwanda, and Somalia making significant strides into the Kenyan market. This trend is reshaping the region’s economic landscape, challenging the long-held dominance of Kenyan companies and ushering in a new era of competition and collaboration. Factors Driving the Regional Business […]
The recent acquisition of a 20% stake in Credit Bank by Shorecap III Limited, a private equity fund from Mauritius, marks a pivotal moment for this Kenyan financial institution. This injection of Sh728 million not only bolsters Credit Bank’s capital base but also invites a deeper look into its ongoing recovery efforts and the challenges […]
Kenya Attracts Significant AI Investment, Highlighting East Africa’s Rise Kenya’s tech sector has reached a significant milestone, attracting Sh1.95 billion (approximately $15 million) in Artificial Intelligence (AI) investments in 2023. This surpasses Nigeria’s investment of Sh 377.9 million ($2.9 million) according to data released by the Global System for Mobile Communications Association (GSMA). This achievement […]
Uncover, a Kenyan-founded skincare firm, has secured Sh180.95 million ($1.4 million) in Seed 2 funding from a group of international investors. EQ2 and IgniteXL Ventures led the funding round, with participation from Chui Ventures, Samata Capital, and Altree Capital. This funding marks a significant milestone for Uncover, allowing the company to accelerate its growth across […]
A heated dispute has erupted between Kiambu County and Tatu City, raising concerns about the future of thousands of jobs and significant investments in the area. The conflict centers around Governor Kimani Wamatangi’s request for 54 acres of land from Tatu City’s 5,000-acre development. This land is intended for public use, including a governor’s residence—a […]
Kenya is gearing up for digital transformation with support from international allies, notably Germany. Lufthansa Industry Solutions, known for its IT consulting and systems integration expertise, has unveiled plans to invest in Kenya. CEO Jörn Messner and Chief Commercial Officer Joern-Matthias Derrer led a delegation that met with Kenya’s Principal Secretary for Information Technology, Communications, […]
Tanzania’s Amsons Group is aiming to acquire Kenya’s Bamburi Cement PLC in a significant deal valued at $180 million (about KSh 23.22 billion). The offer, which includes purchasing Holcim’s entire stake in Bamburi Cement, marks Amsons Group’s strategic move into East Africa’s cement market. Founded in 2006, Amsons Group has grown into a diverse conglomerate […]
Kenya has taken the lead in start-up investments across Africa in the first half of 2024, despite a downturn in overall venture funding on the continent. According to data from Africa: The Big Deal, Kenyan start-ups secured $244 million (Ksh. 31 billion), capturing a significant 32% share of the total $780 million raised by African […]
Moody’s Investors Service has downgraded Kenya’s long-term issuer ratings to Caa1 from B3, with a continued negative outlook. This decision reflects concerns over the government’s fiscal strategy and its implications for debt sustainability. The downgrade underscores Kenya’s reduced ability to implement revenue-driven fiscal consolidation, critical for improving debt affordability. Moody’s pointed out the government’s recent […]
Del Monte Kenya, a cornerstone of Kenya’s agricultural sector since 1965, plays a pivotal role in both economic growth and community development. Specializing in pineapple processing, the company has become a leading global exporter, contributing significantly to Kenya’s GDP and foreign exchange reserves. In 2023, Del Monte Kenya exported 75,000 metric tonnes of pineapple products […]
As Kenya’s Sh301 billion International Monetary Fund (IMF) programme nears expiration in April, the Kenya Kwanza government is actively exploring...
In a significant monetary policy shift, the Reserve Bank of India (RBI) has cut its key repo rate for the...
The Reserve Bank of Zimbabwe (RBZ) has opted to maintain its key interest rate at 35%, signaling a commitment to...
In a groundbreaking move set to transform Kenya’s transportation infrastructure, American asset management firm Everstrong Capital has partnered with CPF...