Kenyan President William Ruto is calling on private investors to significantly scale up geothermal energy exploration, emphasizing the vast, largely untapped potential of this renewable resource in the country. Currently, only 10 percent of Kenya’s geothermal reserves have been explored, presenting a substantial opportunity for expansion, both for the nation’s economy and for sustainable energy […]
Kenyan electric vehicle (EV) manufacturer BasiGo has successfully closed a $42 million funding round aimed at scaling its electric bus operations across East Africa. The funding round was led by Africa50, a pan-African infrastructure investor and asset manager, signaling a significant step forward in the region’s transition towards clean energy transportation. The funding comprises $24 […]
Micro, small, and medium enterprises (MSMEs) in Kenya are set to benefit from a strategic partnership aimed at enhancing cybersecurity measures. In a collaborative effort between Safaricom, Cloudflare, and East African systems integrator Copy Cat, these businesses will gain access to affordable and advanced cybersecurity services tailored to their specific needs. The importance of this […]
Kenyan President William Ruto has called upon commercial banks to join the Pan-African Payments and Settlement System (PAPSS) in order to minimize dependence on the U.S. dollar for intra-African trade transactions. His statements came during the official launch of Kenya’s Micro, Small, and Medium Enterprises (MSME) Accelerator Programme and the release of the Banking Industry […]
The global climate crisis requires immediate, innovative solutions to mitigate its devastating impacts. Across sub-Saharan Africa, a region especially vulnerable to the effects of climate change, the need for climate resilience is increasingly urgent. In response, venture capital funds like Equator Africa are stepping up to support technology-enabled start-ups focused on delivering climate solutions. Recently, […]
Kenya’s National Treasury is taking significant steps to reduce the dominance of banks in the government securities market, aiming to broaden the pool of investors and lower the high interest rates that the country has faced. In its annual borrowing plan for the 2024/2025 fiscal year, the Treasury outlined reforms aimed at expanding access to […]
JPMorgan Chase, the largest U.S. bank and one of the world’s most influential financial institutions, has finally received approval to establish a representative office in Kenya, marking a significant step in its African expansion plans. This approval, granted by the Central Bank of Kenya (CBK), comes almost 12 years after the banking conglomerate first revealed […]
By International Renewable Energy Agency (IRENA)October 14, 2024 The Accelerated Partnership for Renewables in Africa (APRA) officially launched its Investment Forum today in Nairobi, Kenya. This highly anticipated event brought together a diverse range of stakeholders, including government ministers, investors, project developers, and financial institutions, with a shared objective: to scale up investments that align […]
The Kenya Electricity Transmission Company Limited (KETRACO) has signed a landmark $736 million deal with Adani Energy Solutions, a subsidiary of India’s Adani Group, to develop crucial transmission lines and substations. This agreement marks Kenya’s first public-private partnership (PPP) in the energy transmission sector, with Adani committing to raise the entire project funding through a […]
Kenya has taken a significant step in its efforts to combat climate change and promote green investments with the establishment of the Kenya Green Investment Fund. This initiative, developed in collaboration with the World Bank, will initially receive seed capital amounting to USD 40 million (KSh 5.1 billion). The primary goal is to drive the […]
Aquaculture, the fastest-growing segment of the global food system, now produces more than half of the world's fish. In Kenya,...
The Gulf Cooperation Council (GCC) has experienced significant growth in its debt capital markets, with a year-on-year increase of 11%...
The Nigeria Labour Congress (NLC) has strongly criticized the National Assembly over its exclusion of workers and trade unions in...
HF Group Plc, a leading financial solutions provider in Kenya, has achieved a remarkable milestone with the successful completion of...