Zanifu, a prominent Kenyan fintech specializing in providing inventory financing to micro, small, and medium-sized businesses, has successfully raised $11.2 million in a pre-Series A funding round. The round was led by Beyond Capital Ventures and Variant Investments, with participation from Founders Factory Africa, AAIC Investment, Google Black Founders Fund, and existing investor Launch Africa. […]

The Central Bank of Kenya (CBK) has reported remarkable investor interest in its Weekly Treasury Bills Auction held on Thursday, August 17, 2023. The auction saw bids totaling KSh 44.7 billion, marking an impressive oversubscription rate of 186%. Of particular note was the exceptional attraction of the 91-day Treasury Bills, which garnered bids amounting to […]

As Kenya solidifies its vision to establish itself as East Africa’s petroleum hub, Danish energy solutions leader, Danfoss, is injecting fresh vitality into the nation’s energy landscape. The strategic acquisition of key assets sets the stage for a dynamic transformation, while collaborative partnerships with local enterprises and institutions underline Danfoss’s commitment to shaping Kenya’s sustainable […]

A study conducted by Enwealth Financial Services in collaboration with Strathmore University and released in 2022 has shed light on the saving habits and financial literacy levels of Kenyans. The study indicates that despite a commendable 82% of Kenyans surveyed attempting to save money, only a mere 12% of respondents have successfully established a sustainable […]

The Nairobi Coffee Exchange (NCE) is gearing up to reopen its trading operations after a prolonged halt that began on July 6. The suspension, attributed to the government’s decision to overhaul coffee brokerage and licenses, has stirred confusion within the industry, impacting trade dynamics. Key industry players have pointed to the government’s reforms as the […]

In a move that holds implications for the financial landscape, the Central Bank of the country (CBK) has presented enticing rates of return to bidders in its latest auction. The auction, which featured Treasury Bills with durations of 91 days, 182 days, and 364 days, concluded with successful bidders securing rates of 13.1104%, 13.4381%, and […]

Nairobi, Kenya – The telecommunications landscape in Kenya has been experiencing remarkable growth in recent years, and this trend is projected to continue well into the foreseeable future until 2025. The expansion of the industry can be attributed primarily to the burgeoning urban population’s increasing adoption of mobile phones compatible with 3G, 4G, and 5G […]

Pension funds operate with the primary goal of providing employees with either a lump-sum payment or a consistent income stream during their retirement years. In Kenya, where the average retirement age is approximately 60 and life expectancy at birth is 67, pension funds play a pivotal role. Recent data from 2022 indicates that the Pension […]

Moody’s Credit Rating Agency’s assertion that Kenya’s planned buyback of its Eurobond debt constitutes a default has been criticized by the African Credit Rating Research & Advisory, an entity under the African Union. The African Peer Review Mechanism (APRM), in a statement, disputes Moody’s claims and highlights the “voluntary” nature of the bond buyback initiative, […]

Acorn, a prominent property developer, is embarking on a drive to secure Sh1.5 billion in funding by January 2024. This initiative aims to facilitate the expansion of its student hostel portfolio through contributions from current unit holders of its development Real Estate Investment Trust (Reit). The latest semi-annual report from Acorn Student Accommodation (ASA) D-Reit […]