Ernst & Young LLP (EY Kenya), a leading provider of professional services based in Kenya, faces a significant setback as the World Bank Group (WBG) announces its 30-month debarment. This action follows investigations into EY Kenya’s involvement in key projects aimed at enhancing economic institutions and financial management in Somalia. EY Kenya, renowned for its […]

In a significant stride towards enhancing digital infrastructure in Africa, Dr. Thani Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, has lauded the recent partnership between G42 and Microsoft in Kenya. Describing it as “just the beginning,” Dr. Al Zeyoudi emphasized the collaboration’s potential to drive technological innovation and economic growth in the […]

Sanlam Kenya Plc, a subsidiary of South Africa’s Sanlam Ltd, has disclosed plans to wind down its property, bottled mineral water, and asset management subsidiaries in Kenya. This decision follows persistent financial losses and a prolonged period without dividends for shareholders. In 2023, Sanlam Kenya reported a net loss of Ksh127 million ($992,187), marking the […]

Kenya Airways (KQ) has opted out of selling shares to a strategic investor as part of its recovery plan. The national carrier, predominantly owned by the Kenyan government with a 48.9 percent stake, aims to rejuvenate its operations through an infusion of fresh capital and technical expertise, without diluting existing shareholdings. Allan Kilavuka, CEO of […]

Worldcoin, a cryptocurrency project known for its innovative approach to digital identity using biometric data, is set to restart operations in Kenya. This move comes after resolving privacy concerns related to its iris-scanning technology used for digital IDs. The project, managed by Tools for Humanity, faced scrutiny over data collection practices but has now received […]

Two Rivers International Finance and Innovation Centre Special Economic Zone (TRIFIC SEZ) has secured $47.5 million (Sh6 billion) from Vantage Capital, aimed at expanding its infrastructure to accommodate new businesses. The investment will fund the acquisition and development of TRIFIC SEZ’s first office block, the TRIFIC North Tower, along with additional office space to house […]

IHS Kenya, a respected Southern African Private Equity fund manager, has launched a new initiative in Kenya’s real estate market. Named “Muzi Salama,” this project introduces 240 green, affordable apartments within the Tilisi Masterplan in Limuru. Designed to meet the rising demand for quality yet affordable housing, Muzi Salama aims to redefine urban living standards. […]

Kenyan investors are increasingly turning to alternative investments as traditional avenues face mounting economic pressures. A recent report by the Central Bank of Kenya underscores CEOs’ concerns over macroeconomic instability and rising global commodity prices, prompting a shift towards more resilient asset classes. Jane Doe, Chief Investment Officer at a Nairobi-based asset management firm, notes, […]

The Kenyan government has unveiled ambitious plans to enhance technological innovation and economic development in Konza Technopolis City as part of its 2023-2027 Medium Term Plan IV. Alfonso Munyali, Secretary of Devolution Affairs and Intergovernmental Relations, emphasized the government’s intention to utilize both local and international resources to propel Konza into a hub of innovation. […]

4G Capital, a leading fintech firm catering to micro, small, and medium-sized enterprises (MSMEs) across Africa, has successfully initiated a KSh 500 million corporate debt programme. Acting as the Arranger and Placement Agent, Dry Associates Investment Bank facilitated this significant funding round, demonstrating strong investor confidence in 4G Capital’s operational strategy. This capital infusion is […]