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Nairobi-based startup Octavia Carbon has successfully secured funding from Renew Capital, an Africa-focused impact investment firm, to advance its groundbreaking Direct Air Capture (DAC) technology. The company’s mission is to combat climate change by actively developing, constructing, and deploying machines designed to extract carbon dioxide (CO2) directly from the atmosphere. Renew Capital’s investment in Octavia […]

In a significant development, the Central Bank of Kenya CBK) has announced a shift in its methodology for determining the official exchange rate. The institution has embraced a weighted average approach based on forex interbank trades, specifically utilizing the Volume-Weighted Average Price (VWAP) to enhance market functionality and potentially facilitate more accurate price discovery. The […]

Airtel Kenya has accomplished a remarkable milestone by securing its highest voice market share in over three and a half years, reaching 35.1%, equivalent to a staggering 7.8 billion minutes. This surge in market dominance has led to a decline in Safaricom’s share to a three-year low, reflecting the intense competition between the two telecommunications […]

In a groundbreaking move, Kenya has solidified its position as a frontrunner in cryptocurrency adoption on the African continent, marking a milestone by becoming the first country to implement taxes on digital assets. Kenyan legislators recently deliberated on the introduction of a 3% tax on cryptocurrency and non-fungible token (NFT) transfers, along with a 15% […]

In a significant development this week, the Jamaica Stock Exchange formalized a strategic partnership with the Nairobi Securities Exchange in Kenya by signing a Memorandum of Understanding (MoU), signaling a commitment to bolster ties with Africa. The MoU outlines ambitious plans aimed at elevating the financial markets through the introduction of innovative product offerings. Notably, […]

In a strategic move to remain competitive and attract new investment flows, unit trusts have raised their annual returns to align with the heightened rates offered on government treasuries and bank fixed deposits. An analysis of annual rates on shilling-denominated money market funds reveals returns ranging from 11.6 percent to 15.96 percent as of December […]

In a landmark move towards sustainable finance, the Central Bank of Kenya (CBK) has entered into a strategic partnership with the European Investment Bank (EIB). The joint initiative aims to cultivate best practices in climate finance within the local commercial banking sector, marking a significant step towards achieving a net-zero economy in Kenya. One of […]

In an effort to combat food insecurity and enhance agricultural productivity, a groundbreaking partnership has been formed between the British International Investment (BII) and the Shell Foundation. This collaboration aims to invest $2.6 million in SunCulture, a Kenyan company providing solar-powered irrigation systems to smallholder farmers. With approximately 9,000 smallholder farmers set to benefit, the […]

Kenyan startup Tappi has successfully secured $1.5 million in pre-seed funding, led by notable investors Mercy Corps Ventures and Chui Ventures. This strategic investment positions Tappi to extend its reach to over 100 million small and medium-sized enterprises (SMEs) across Africa, aiming to empower them in the rapidly evolving digital commerce arena. Tappi’s innovative platform […]

In a robust display of market demand, government-issued infrastructure bonds (IFBs) have been trading at a premium in the secondary market at the Nairobi Securities Exchange (NSE). The surge in interest is primarily attributed to retail buyers seeking the allure of high, interest-free rates offered by these bonds. As of the latest trading session, only […]