In response to the ongoing depreciation of the local currency, Kenyans are increasingly turning to US dollar-based investments as a safeguard against the economic impacts. This trend is being observed both among domestic investors and members of the diaspora. The surge in interest for dollar-denominated investment products has led to the establishment of various forex […]
In a groundbreaking development, Apollo Agriculture has successfully secured a substantial $10 million investment from Swedfund International and ImpactConnect, facilitated by DEG. This noteworthy financial infusion propels the company into a robust position to further its rapid expansion in pursuit of the mission to enhance the livelihoods of small-scale farmers while promoting sustainable farming practices. […]
In a strategic move to support small businesses, the Kenyan Treasury has introduced the Kenya Credit Guarantee Scheme Company (KCGSC) in collaboration with financial institutions. The initiative, developed in partnership with commercial banks, aims to de-risk lending to small businesses, particularly those emerging from the Hustler Fund. The Kenya Credit Guarantee Scheme Company (KCGSC) represents […]
In a recent report, the International Energy Agency (IEA) has cautioned that Kenya’s revised policy on procuring electricity from independent power producers (IPPs) specializing in renewable sources hinders new investments and impedes efforts to address the nation’s energy access deficit. The policy change, which saw the approval of the Renewable Energy Auction Policy (Reap) by […]
In a notable financial achievement, the Central Bank of Kenya (CBK) has surpassed expectations by collecting KSh 11.76 billion in its second January Treasury Bonds tap sale, despite seeking KSh 15 billion. The bank floated both three-year and five-year treasury bonds during this auction, reflecting a strategic move to diversify its portfolio. This recent foray […]
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 major step towards enhancing financial connectivity and promoting intra-African trade, KCB Group in Kenya and the Bank of...
Stock markets across the US and Asia experienced sharp declines on Monday as investors reacted to renewed concerns about the...
In a bold move aimed at addressing widespread concerns over mismanagement and inefficiencies in the housing sector, the Nigerian House...
In a significant policy reversal that is poised to reverberate across Kenya’s industrial landscape, the Energy and Petroleum Regulatory Authority...