The High Court has dismissed a petition by Mulla Pride Ltd, a digital lending company that owns KeCredit and FairKash, which challenged a KSh 2.98 million penalty imposed by the Office Data Protection Commissioner (ODPC) for violating data protection laws. The court ruled that the petition, filed under the guise of constitutional violations, was procedurally misplaced.Justice Chacha Mwita held that the Data Protection Act of 2019 clearly spells out an appeal path to the High Court for aggrieved parties.Since that route remains available, the court found no justification for bypassing it via a constitutional petition. “Section 64 of the Data…
Author: Brian Nzomo
The state-owned National Oil Corporation of Kenya entered its March “rescue” deal with French energy firm RUBiS Energy already in a condition that the Auditor General regarded as terminal. By the end of the 2023/24 financial year, National Oil was in technical insolvency, as liabilities were KSh 11.6 billion higher than its assets.The company’s accumulated losses had swelled up to KSh 8.3 billion and had defaulted on a KSh 6.54 billion loan, which carried an additional KSh 2.43 billion in penalty interest.National Oil had reported a KSh 2.23 billion loss before tax for the year, missed its revenue target by…
Electricity users are bearing the cost of overpriced power contracts after the national utility, Kenya Power, spent KSh 73.7 billion purchasing electricity from Independent Power Producers (IPPs) that delivered significantly less energy than the state-owned generator, KenGen. In the year ending June 2024, IPPs supplied just 41% of total electricity purchased by the Kenya Power and Lighting Company (KPLC) but received about 60% of the total payments.In contrast, KenGen supplied 59% of the power and received only 40% of the payouts, amounting to KSh 49.4 billion.The steep price gap reveals that on average, electricity from IPPs cost KSh 21.16 per…
Tullow Oil PLC has signed an agreement with Gulf Energy Ltd, inching closer to its exit from Kenya’s upstream oil sector, to sell its entire stake for a minimum cash consideration KSh 15.5 billion. The transaction involves the sale of Tullow Kenya BV, which holds rights to approximately 463 million barrels of 2C contingent oil resources in the South Lokichar Basin.According to Madhan Srinivasan, managing director of Tullow Kenya BV, the signing of the agreement with Gulf affiliate Auron Energy E&P Ltd will mark the end of a turbulent 15-year run in a prospect process slowed down by regulatory inertia…
Boehringer Ingelheim, a German pharmaceutical company, has expanded its Social Engagement Fund portfolio with new investments in Kasha Global and Reach52, two fast-growing Kenyan health startups focused on solving some of the region’s most persistent healthcare access challenges. The investments are part of Boehringer’s broader commitment to improve the lives of 50 million people worldwide by 2030 through partnerships, with the latest funding round targeting scalable innovations that bring medicine, health education, and trained personnel directly to underserved communities.Kasha Global, headquartered in Nairobi, operates a digital and offline health platform delivering pharmaceuticals and personal care products to low-income populations.Boehringer also…
The Judiciary is experiencing ongoing disruptions to its digital systems, including its eFiling and Cause List platforms, following a series of technical issues that began late last week. The disruptions, attributed to external interference with network services, have prompted a phased service resumption effort led by the Judiciary’s technical team.Initial system outages were reported on Thursday 10th July affecting public access to the Judiciary’s key online platforms and paralysing operations.While partial restoration was achieved by Sunday, July 13, additional challenges were recorded on Monday, July 14, prolonging the disruptions. In a statement issued Monday, the Office of the Chief Registrar…
Co-operative Bank of Kenya’s employer-based savings and credit unit, NWDT Sacco Society, has been ranked the best performing large- and medium-tier non-withdrawable deposit-taking (NDT) SACCO during the country’s 2025 Ushirika Day celebrations. The award, presented during the 103rd International Day of Cooperatives, recognizes NWDT’s performance across metrics including capitalization, deposit and credit management, efficiency, governance, and technology adoption among Tier-2 employer-based Saccos with assets between KSh 5-10 billion.This year’s celebrations coincided with the United Nations’ declaration of 2025 as the International Year of Cooperatives, an event that Kenya has used to spotlight the role of cooperatives in its economic development…
Bitcoin traded to an all-time high of over US$122,000 on Monday, lifted by a wave of institutional buying and growing investor optimism ahead of a pivotal “Crypto Week” in Washington. The 3.6% spike over the past 24 hours, comes as U.S. lawmakers prepare to debate a slate of potentially transformative crypto bills such as the Genius Act, Clarity Act, and the Anti-CBDC Surveillance State Act, which could set the foundation for formal oversight of digital assets.The fresh momentum was driven by a Japanese firm Metaplanet Inc., which disclosed it had purchased 797 more Bitcoins, pushing its holdings to 16,352 and…
It is undeniable that Nairobi loves to drink. The city lifts its glasses with the zeal of a place forever toasting something. Birthdays, promotions, resignations, long weekends, and short marriages. For decades, beer has held the throne and whiskey ran its course. Meanwhile, wine has lingered in the shadows, always ignored in restaurant and bar menus. But this is likely to change as wine producers are juicing up their brands in Nairobi. This week, the Wines of South Africa (WoSA) organized a tasting event in the city designed to seduce the curious palates of the middle class. The message was…
Roqqu, a Nigerian cryptocurrency exchange, has acquired Flitaa — a Kenyan-based crypto startup operating across four African countries in a deal that marks the first publicly disclosed crypto consolidation on the continent. Founded in 2021, Flitaa allows users in Kenya, Ghana, Uganda, and Tanzania to trade cryptocurrencies via a simplified interface.Roqqu, which was also launched in 2019, will integrate Flitaa’s operations into its platform, as it braces for greater pan-African presence.By absorbing Flitaa, Roqqu sidesteps the compliance hurdles of launching from scratch in a new jurisdiction and gains a tested product and user base 72,000 strong. “Rather than go through…
Kenya has approved the Konza technopolis as its first airspace dedicated entirely to drones, giving a green light to long-range flights that could soon deliver medicine, monitor crops, and respond to disasters. The move, cleared by the Kenya Civil Aviation Authority (KCAA), marks a significant step in the country’s plans to integrate unmanned aircraft into key sectors like agriculture, healthcare, and logistics.The corridor will allow drones to fly beyond the operator’s line of sight, known as BVLOS, within a regulated and controlled environment.This capability is crucial for real-world use cases such as delivering medicine to remote areas or monitoring large-scale…
Busia Senator and public interest litigator Okiya Omtatah is elated after the Supreme Court nullified a procurement deal between the Kenya Ports Authority (KPA) and Portside Freight Terminals Limited, a company with links to the current Cabinet Secretary for Mining and Blue Economy — Hassan Ali Joho. The case revolves around the rights to build a second grain handling facility at the Mombasa Port.The top court found that the Kenya Ports Authority (KPA) breached constitutional and statutory procedures by using a special procurement shortcut to award the deal without competitive bidding or public participation.The Specially Permitted Procurement Procedure (SPPP) was…
Some crypto startups are raising red flags over the Virtual Asset Service Providers (VASP) Bill, warning that a Binance-linked lobby group could seize control of a proposed regulatory body, tilting the playing field toward monopoly under the guise of reform. According to the most recent iteration of the bill, the policy think-tank called the Virtual Asset Chamber of Commerce (VACC) will be included in a newly formed regulatory board enshrined in the proposed law.The Virtual Assets Regulatory Authority, recently added to the bill during its Second Reading, will also consist of representatives from the National Treasury, the Central Bank of…
Global tech giant Google has selected 15 startups from across Africa for the ninth cohort of its ‘Google for Startups Accelerator: Africa program’, with two Kenyan startups, Apexloads and Shamba Records, among those chosen. The program, which runs through August 2025, targets companies applying artificial intelligence to challenges in logistics, agriculture, healthcare, compliance, and financial services.Selected from a pool of nearly 1,500 applicants, the startups come from seven countries: Ghana, Ethiopia, Kenya, Nigeria, Rwanda, Senegal, and South Africa.Each company will receive technical mentorship from Google engineers, business support, and up to $350,000 in Google Cloud credits. “This program reflects our…
Newly licensed autogas stations in Kenya will be required to provide electric vehicle charging facilities under a new regulatory framework published by the Energy and Petroleum Regulatory Authority (EPRA). The EV chargers at LPG stations are set to make better use of space and make it easier to expand the country’s EV charging network.For safety purposes, the chargers will be kept away from areas where LPG could leak or ignite, following strict distance rules from fuel tanks and electrical systems.EPRA’s directive is part of a broader set of guidelines meant to formalize operations in the growing autogas sector, which now…
The East African Development Bank (EADB) has signed its largest financing agreement yet with the OPEC Fund for International Development, securing a US$40 million loan to accelerate private sector development and infrastructure investment across East Africa. The agreement, formalized on Wednesday at the OPEC Fund’s headquarters in Vienna, is the fourth collaboration between the two institutions and brings their total financing partnership to US$85 million since 2002.In addition to the direct loan, the OPEC Fund has committed to arranging an additional US$25 million through syndicated resources, positioning the development bank to mobilize deeper capital pools for strategic projects across its…
More than four in five Kenyans surveyed by TransUnion in late 2024 said they were targeted by fraud via email, online platforms, phone calls, or text messages — underscoring the growing scale and sophistication of digital scams across the country. The findings are drawn from the TransUnion H1 2025 State of Omnichannel Fraud Report, which reveals that smishing (fraudulent texts seeking personal data) was the most commonly reported method used by cybercriminals in Kenya, followed by phishing and vishing.In a separate survey question, nearly half (45%) of Kenyan respondents said they had lost money to such fraud over the past…
Ethiopia is experiencing a sharp acceleration in electric vehicle adoption, within the number tripling from 4,600 in early 2023 to 14,000 EVs in early 2025 in Addis Ababa, according to the country’s energy outlook. Electric vehicles accounted for more than 60% of all new car registrations in 2024, reflecting a shift driven as much by policy as by market trends.The government has effectively blocked the importation of fuel-powered vehicles by halting the allocation of foreign currency for their purchase.Although no formal legal ban exists, the currency restriction, coupled with high import taxes on used internal combustion engine (ICE) vehicles, has…
Wingu Africa has raised $60 million in financing from Rand Merchant Bank to accelerate the development of digital infrastructure across Djibouti, Ethiopia, and Tanzania. The data center operator, which already serves more than 40 enterprise clients, including telecom firms, hyperscalers, and financial institutions, will use the funding to expand its regional footprint and meet rising demand for secure, scalable cloud connectivity.In Djibouti, the company recently launched its second facility, which includes the nation’s first integrated cable landing station and data center designed to support redundancy and high availability across the region’s expanding digital networks.Wingu Africa was founded by Demos Kyriacou,…
The Tax Appeals Tribunal has dismissed a suit by media company, MultiChoice Africa Holdings BV, in a dispute with the Kenya Revenue Authority (KRA) over its decision to disallow VAT input claims and demand over KSh 681 million in taxes, penalties, and interest. The dispute centered on VAT assessments covering the period between January 2021 to June 2023, during which MultiChoice Africa supplied digital entertainment services to consumers in Kenya.Although the company had complied with local VAT registration requirements and filed returns through its Kenyan tax representative, it claimed input tax in its filings but KRA rejected the claims and…
Out of over 60,000 Kenyans who applied for Schengen Visas in 2024, 18,899 faced rejection and lost an estimated KSh 234.7 million in total fees, according to new data from London-based research firm — LAGO Collective. This was higher than in 2023 when out of 55,251 applications, 12,961 were rejected and the estimated loss stood at KSh 151 million, a 23.46% rejection rate. In Kenya, applying for Schengen Visa, which is required to travel to 29 European countries for short temporary stays or transit, costs about KSh 13,000 and cannot be reimbursed even if the application fails.In total, African applicants…
The Ministry of Education has released Ksh 22 billion in capitation funds for Term 2 after school heads and principals nationwide complained that the delay hindered crucial learning resources. Secondary schools will get the bulk of the funds, raking in KSh 11.6 billion, followed by Junior School Education, which will receive KSh 8.9 billion.Primary schools will receive KSh 1.37 billion and junior schools for Special Needs students will get KSh 118 million.The ministry has also set a July date for the pilot phase of the Kenya Education Management Information System (KEMIS), with full implementation to begin in September. “As a…
Pan-Africa e-commerce platform Jumia Technologies has slashed its loss before tax to US$16.5 million in the first quarter of 2025, down from US$39.6 million a year earlier, driven by sharply lower finance costs and improved performance in its core consumer business. Total revenue fell 26% to US$36.3 million, while gross profit declined 36% to US$19.9 million, primarily due to a steep drop in high-margin corporate sales in Egypt and continued currency devaluations.Gross merchandise value (GMV) declined 11% to US$161.7 million, though the company reported a 21% year-over-year increase in total orders, the fastest growth rate in two years.Jumia continues to…
Global fintech firm Cross Switch has expanded into Kenya, teaming up with local payment provider ‘Pesawise’ in a move aimed at capturing a pie of the country’s fast-growing digital payments market. The partnership brings Cross Switch’s unified payments infrastructure to Kenya, allowing merchants to accept payments across card networks, mobile money, and bank transfers.By joining forces with Pesawise, a fintech licensed by the Central Bank of Kenya (CBK), Cross Switch will operate under its partner’s regulatory grounding and access local market expertise.Kenya’s dominance in mobile money transactions first has made it an attractive destination for fintech firms looking to scale…
The High Court has issued temporary orders barring government agencies and telecom providers from interfering with internet access, in advance of a landmark public interest case challenging the legality of recent digital disruptions. The ruling delivered by Justice Bahati Mwamuye, restrains the Communications Authority of Kenya (CA), the Attorney General, the Cabinet Secretary for ICT, and two major telecom providers — Safaricom and Airtel Kenya — from implementing any shutdowns or restrictions until the case is heard and determined.The orders follow a constitutional petition filed by seven civil society organizations including the International Commission of Jurists – Kenya Section (ICJ…
Buried on page 327 of what U.S House Republicans are hailing as “the one, big, beautiful bill,” a proposal by the Trump administration to impose a 5% tax on remittances is poised to sting. The proposed levy, tucked into the House Ways and Means Committee’s new tax plan, targets electronic money transfers that have increasingly, helped fund investments, basic needs, and prop up economies.According to the World Bank, a total of US$93 billion was sent from the U.S to other countries abroad in the form of remittances.Kenyans in the U.S have consistently accounted for more than half of the total…
A court ruling has ruled that Brew Bistro’s parent company, Five Breweries Ltd., is the lawful owner of the rooftop space of Fortis Towers in Westlands— adding that the popular entertainment joint is also entitled to unrestricted access to the building’s service lifts. The judgment, delivered on Thursday, concluded the nine-year long legal dispute that began when Five Breweries Ltd. challenged the actions of Fortis Towers Management Company, which restricted access to the service lift to specific hours without formal notice or stakeholder engagement.In its filings, the entertainment company submitted documentation including a letter of offer dated June 2013, an…
Kenyan banks scored an average of 43.7% in the WWF’s inaugural 2024 Sustainable Banking Assessment (SUSBA), second only to South Africa’s 50.1% among 25 banks surveyed across eight African countries. In Kenya, Stanbic Bank ranked higher than four other banks in Sustainability strategy and stakeholder engagement in sustainable finance initiatives — fetching 100% and 80% scores respectively. KCB and Equity both scored 86% and 70% on these parameters with NCBA performing poorly with 20% in stakeholder engagement. Sustainable finance emphasizes a shift from resource-intensive financial models to a green, social, and inclusive investment culture. “All five banks exhibit substantial progress in incorporating…
Airtel Africa has announced that it has inked a deal with SpaceX to bring Starlink’s satellite-based internet services in the 14 markets it operates in on the continent. Under the new partnership, Starlink’s high-speed, low-latency internet will be integrated into Airtel Africa’s offerings.Starlink has already secured regulatory licenses in 9 of the countries where Airtel Africa operates, with applications pending in the remaining five countries. The deal reflects the increasing role of low-Earth orbit (LEO) satellite networks in extending connectivity to regions where traditional infrastructure has proven either too costly or logistically unfeasible. “Next-generation satellite connectivity will ensure that every individual,…
President William Ruto will not assent to the Conflict of Interest Bill passed by Parliament after expressing concerns that it fails to sufficiently regulate the reception of gifts by public officials and their families, a gap he argues could be exploited to mask corruption. In a memorandum to lawmakers, President Ruto recommended amendments to require public officials to disclose not only the gifts they receive but also those received by their close relatives.The current version of the bill, he contended, could be circumvented by funneling gifts to family members thus effectively bypassing the proposed law’s intention.Another key proposal the President…
The Economic and Financial Crimes Commission (EFCC) of Nigeria has named four Kenyans suspected of involvement in the collapsed online trading platform called Crypto Bridge Exchange (CBEX) that was a Ponzi scheme disguised as a crypto investment platform. Nigerian authorities have notified the public that the four Kenyans being pursued are John Okiroh Otieno, Israel Mbaluka, Joseph Michiro Kabera, and Serah Michiro.The EFCC also listed four Nigerians — Seyi Oloyede, Emmanuel Uko, Adefowora Oluwanisola, and Adefowora Abiodun Olaonipekun — linked to the scam.The collapse of CBEX, a fast-growing digital Ponzi scheme disguised as an investment platform operating across Kenya, Nigeria,…
The National Planning & Development Management System (NPDMS), introduced to digitize and streamline building approvals in Nairobi, is facing growing criticism from the engineering community, which cites rampant inefficiencies and worsening corruption in the development process. According to the Institution of Engineers of Kenya (IEK), the NPDMS has been plagued by frequent technical failures, delayed payment confirmations, poor integration with other government departments, and missing feedback channels.Instead of expediting approvals, the system’s shortcomings have contributed to long delays, forcing applicants of building approvals to dish out bribes.The IEK, representing over 17,000 engineers responsible for designing and overseeing urban development, warned…
Kenya Commercial Bank (KCB) is set to auction the assets of road construction firm Nyoro Construction Company—owned by Kenyan tycoon Njoroge Njuguna—following a loan default triggered by pending bills with the state. A High Court ruling, delivered by Justice Peter Mulwa, followed an application filed in May 2024 in which Nyoro Construction sought interim injunctive relief to prevent KCB from attaching or selling its movable assets.Nyoro Construction said in its affidavit to the Court of Appeal that the default on its loan obligations was directly linked to delays by the Government of Kenya in settling payments for completed road construction…
Tullow Oil PLC has agreed to sell its entire Kenyan portfolio to Gulf Energy Ltd for a minimum consideration of $120 million, effectively exiting a project that has faced years of regulatory delays, partner withdrawals, and investment uncertainty. The agreement, announced Tuesday, follows a period of instability in Tullow’s Kenyan operations following the exit of joint venture partners Africa Oil Corporation and TotalEnergies in 2023.The departure triggered a protracted review process by Kenya’s Energy and Petroleum Regulatory Authority (EPRA), which extended its evaluation of the project’s Field Development Plan (FDP) to June 30, 2025.The delays stalled progress toward a Final…
The Office of the Data Protection Commissioner (ODPC) has ordered NCBA Bank to pay KSh 250,000 in compensation to a customer whose personal data was mishandled. The case centered on a complaint by Brian Githaiga, who alleged that NCBA Bank failed to correct an error in his email address, resulting in his business transaction details being sent to an unintended recipient.Githaiga opened a business account with NCBA in 2019, but the bank recorded an incorrect email address after the customer submitted two email addresses, including the erroneous one.The order requires NCBA Bank to erase the third party’s email address from…
Kenya Power intends to ramp up its rural electrification drive, aiming to connect 150,000 additional customers to the grid under the sixth phase of its Last Mile Connectivity Project (LMCP). The expansion, funded by the African Development Bank (AfDB), will cover 45 counties across Kenya, excluding the capital Nairobi and the coastal city of Mombasa.The latest phase represents the third round of AfDB financing for the LMCP, which has already brought power to more than half a million Kenyans under the initial phases.As part of the rollout, Kenya Power has opened bidding for consultancy services, seeking firms to conduct technical…
NCBA Group PLC has said that it will appeal a High Court ruling that nullified the KSh 384.5 million stamp duty exemption granted during the 2019 merger between NIC Bank and CBA Bank that created Kenya’s third largest bank. The judgment delivered by Justice Chacha Mwita on Friday nullified Legal Notice No. 112 of 2019 and accused the Treasury of bypassing statutory procedures.NIC Group and CBA’s merger was executed through a share swap, which saw NIC shareholders take a 47% stake in the new entity while CBA shareholders, notably the Kenyatta family, holding 53%.NCBA’s board has instructed legal counsel to…
Blockchain is reshaping the real estate market by opening up new ways to buy, sell, and trade property. For many years, real estate investment has been associated with high capital barriers, tedious transactions, and illiquid assets. That formula is now being rewritten. Blockchain is reshaping the real estate market by opening up new ways to buy, sell, and trade property. Tokenization, the process of dividing real estate assets into digital tokens on a blockchain, allows investors to own fractional shares of properties. Instead of purchasing an entire building or parcel of land, investors can buy smaller portions, akin to purchasing…
Some foreign-owned flower firms are now shifting their operations from Ethiopia to Kenya and Uganda as conflict in the Amhara region disrupts Ethiopia’s horticulture sector. Selecta Group, a leading global horticulture company, announced plans to shift its flower production from Kunzila, Ethiopia, to its primary facilities in Kenya and Uganda.The decision was driven by Ethiopia’s political instability and uncertain security conditions, and marks a strategic realignment aimed at ensuring an uninterrupted supply chain and workforce safety.In a statement, Selecta emphasized that the transition will not impact customer deliveries because its production capacities in Kenya and Uganda have been expanded to…
Kenyan social commerce startup ‘Chpter’ has spun off Pluto, its WhatsApp API suite, into a standalone subsidiary, marking a strategic shift as businesses increasingly rely on messaging apps for sales and customer engagement. Pluto aims to streamline how businesses interact with customers on WhatsApp by enabling companies to automate customer support, facilitate payments, and drive transactions.Pluto’s goal is to simplify the customer-seller interaction by allowing transactions to be completed entirely within WhatsApp, saving the time needed to leap across apps.Pluto will operate under a hybrid revenue model, offering monthly software-as-a-service (SaaS) subscriptions ranging from US$50 to US$550. “Our mission is…
Listed Agricultural company, Kakuzi PLC, has reported a pre-tax loss of KSh 167 million for 2024, driven by adverse weather conditions, foreign currency fluctuations, and geopolitical instability in the Middle East, which hampered trade logistics for its key avocado exports. The agricultural company, known for its avocado, macadamia, and tea exports, saw sales decline to KSh 4.79 billion from KSh 5.40 billion the previous year.The depreciation in revenue coincided with a KSh 537.17 million loss before tax, a sharp contrast from a profit of KSh 372.17 million in 2023.Kakuzi’s cash balance shrank to KSh 1.1 billion from KSh 1.40 billion…
An ex-employee of iProcure Limited has withdrawn a lawsuit against the Kenyan agricultural supply chain startup—currently under administration due to financial difficulties. Bernard Kamau filed the suit in March last year, alleging he had been unfairly terminated and that iProcure had breached his work contract.However, the following month in April, iProcure entered administration under Kenya’s Insolvency Act, triggering a freeze on claims against the company.In January 2025, Kamau sought the Employment and Labour Relations Court’s permission to proceed with the case and to include Makenzi Muthusi of KPMG Advisory Services Ltd—the appointed administrator—as an interested party. However, Muthusi opposed the…
Kenya’s tea export earnings plunged 20% in December 2024 while coffee revenues soared, underscoring the divergent paths of two of the nation’s key cash crops amid shifting global market dynamics. Despite exporting more tea—49,731 metric tonnes compared to 46,524 metric tonnes in December 2023—revenues fell to KSh 13.8 billion from KSh 17.25 billion the previous year.The drop was attributed to declining global prices and softer demand in traditional markets, exacerbated by global economic headwinds.Coffee exports experienced a robust upswing with volumes nearly doubling to 2,647 metric tonnes from 1,478 metric tonnes a year earlier, while earnings surged 54% to KSh…
The Milimani anti-corruption court has found Former Kiambu Governor Ferdinand Waititu and his wife – Susan Wangari – guilty in a corruption case involving the award of a KSh 588 million roads tender in 2018. The ruling by Chief Magistrate Thomas Nzioki also indicted businessman Charles Chege and his wife Beth Wangechi, as well as the former Chief Officer Engineer of the Kiambu County Government roads – Luka Mwangi.About 32 prosecution witnesses testified and 129 exhibits presented to the court after the Office of the Director of Public Prosecutions (ODPP) charged Waititu and his accomplices for abuse of office and…
The area under cultivation of wheat in Kenya has been falling since 2019 as farmers shift to maize farming, according to data from the KNBS. In 2023, the area under wheat cultivation was 104,440 hectares compared to 2022 when it was 119,554 hectares, with production decreasing as a result.On the flip side, maize cemented its position as a staple food crop with the area dedicated to maize cultivation increasing from 2,113,520 hectares in 2022 to 2,430,013 hectares in 2023.Kenya remains a net importer of wheat, with over 80% of the consumed produce being sourced from Russia, Ukraine, and Canada. “Consequently,…
The Sugar Bill signed into law by President William Ruto in November last year was a Trojan horse for the 4% Sugar Development Levy that will most likely be transferred onto consumer prices. The law sought to revitalize the ailing Kenyan sugar industry which has wrecked the economic prospects of many cane farmers in Western and Nyanza regions.The 4% Sugar Development Levy for the value of both domestic sugar and the Cost Insurance Freight (CIF) value of the imported sweetener will be channeled to different infrastructural and labour support programs in the sector.The levy plus the hiked excise duty of…
The Kenya Veterinary Association (KVA) doubts the government’s ability to conduct an effective nationwide livestock vaccination exercise in January next year without enough public sensitization and rigorous communication. In a statement released on Tuesday evening, the association wants the government to pause the exercise believing that insistence to run it in the current climate of skepticism would only botch the aim.The veterinary association also acknowledged the government’s assurance that the exercise will be voluntary, allaying fears that the vaccination program is being pushed by dubious interests.They also asked the government to adequately fund veterinary services that were devolved to the…
Partnerships with APIs such as the Daraja platform have enabled Safaricom’s M-Pesa to broaden its integration range with Point-of-Sale (POS) systems, websites, and mobile apps, driving the number of subscribers up by 1.5% between October and November. Safaricom noted that the number of subscribers rose to 34 million thanks to over 90,000 developers that have facilitated over 40,000 integrations.The Telco has been on an aggressive campaign to solidify its market share after data from the Communications Authority of Kenya (CA) showed that M-Pesa lost some of its market share from 94.9% to 93.4%.On the flip side, Airtel Money’s market share…
86% of founders report that building their startups has taken a toll on their mental health, a survey by early-stage venture capital firm Flourish Ventures has found. Although 81% of them enjoyed the entrepreneurship journey, 60% reported feeling anxiety, 58% high stress, 52% exhaustion and burnout, and 20% of the respondents felt depressed.The most stressful factors were majorly external, with the pressure to raise capital sitting at the apex with 59%, inflation and currency devaluation following at 44%, and other macroeconomic challenges recording a 40% concern.Other stress factors included company management (32%), co-founder relationship (21%), and investor relationship (16%); with…
In a letter to the National Stock Exchange of India and the Bombay Stock Exchange (BSE), Adani Enterprises Limited stated that the cancellation of its project proposals in Kenya had no material impact on the company’s operations. President William Ruto ordered the immediate cancellation of the procurement process between various state authorities and Adani Group subsidiaries during a State of the Nation address on Thursday. Adani admitted that there were deliberations between the company’s subsidiaries with relevant Kenyan agencies to upgrade and modernise the JKIA but the project was never awarded. The company told the bourses that no disclosure requirements under Regulation…
Gautam Adani’s name is in the global newsreels for the wrong reasons again; this time, New York prosecutors are pursuing him for allegedly bribing Indian government officials with US$250 million to secure solar energy contracts. Gautam Adani plus other top executives of the renewable energy company, including Sagar R Adani and Vneet S Jaain, were hoping to bag the contracts worth US$2 billion between 2020 and 2024.US prosecutors said that the renewable energy company also raised more than U$3 billion in loans and bonds during this period based on false and misleading statements.An arrest warrant has already been issued by…
A circular from listed cement maker, Bamburi Cement PLC, to its shareholders reveals that Savannah Clinker’s proposed price for takeover has risen from KSh 70 per share to KSh 76.55. The opposing proposal from Tanzanian company, Amsons Group, remains unchanged at KSh 65 since 10th July when it announced its bid.While Amsons Group did not give any acceptance conditions in its bid for Bamburi, Savannah Clinker demands 60% acceptance of its acquisition bid by shareholders.Savannah’s bid will also lapse much earlier than Amsons’ offer, ending by 25th February next year; Amsons Group will float its offer until 28th November next…
The controversial universal health care plan, the Social Health Insurance Fund (SHIF), officially begun at midnight tonight, but there are pending concerns on how deductions for unsalaried households would be undertaken. The National Assembly Health Committee grilled Health Cabinet Secretary Deborah Barasa yesterday, as well as other key ministerial figures tasked with the anticipated implementation of the new health care plan.While it was clear that salaried individuals will have 2.75% of their salaries deducted, it was unclear how the government would pursue contributions from households with no steady flow of income.The Ministry of Health also had to explain the framework…
Farmers in various tea zones have accused several factories of unfairly dropping per kilogram prices of the green leaf, prompting protests in some areas. At the Mogogosiek factory in Bomet county, tea farmers protested on Wednesday against the price of KSh 20 per kilogram they were offered for tea delivered up to June 2024.Anti-riot police quell the protest and engaged in running battles with tea farmers after they allegedly threatened to loot and burn the factory. Similar sentiments were voiced by tea farmers in other zones of the South Rift, where a kilo of the green leaf was priced at less…
Kopo Kopo, a fintech that provides short-term loans, has appointed Dennis Ondeng as its new CEO, and made three other senior leadership changes amidst acquisition plans by Nigerian fintech giant Moniepoint. Dennis Ondeng joined Kopo Kopo in 2011 and has served as the company’s Chief Technology Officer (CTO) since.Kopo Kopo also appointed Chad Larson, who had joined the company in 2019 as CEO, as the Chief Financial Officer (CFO). It also appointed Rosemary Muyeshi, an accountant who the company said is known “for her no-nonsense approach and strategic mindset” as the Chief Risk Officer (CRO), tasked with strategizing the company’s path…
Chpter, an AI-powered conversational commerce platform, has raised US$1.2 million in their pre-seed round to expand product visibility and enhance clients’ marketing capabilities. The startup, which was founded in 2022, enables e-commerce merchants to sell more commodities by employing automated conversations for marketing in social platforms such as Whatsapp and Instagram. Chpter’s funding round was led by Ken Njoroge of PANI, also Cofounder & Former CEO of Cellulant – with additional funding from Plesion Capital, Techstars, Norrsken, Renew Capital, and ViKtoria Ventures. The raise also attracted angel investors including NALA Founder and CEO Benjamin Fernandes, and Workpay Cofounders Paul Kimani and Jackson…
The competition regulator in Kenya has permitted UAE’s B Commodities’s acquisition of 98.56% in Lipton Teas and Infusion, setting the stage for one of the most watched M&A deals in the East African region this year. The authority determined that prior to the impending merger, Lipton has a market share of 6%, which will push the acquirer’s market share to 10.7% – leaving 89.3% of the market to other competitors in the tea sector.Other formidable competitors are the Kenya Tea Development Agencies (KTDA) which owns 48.8% of the market share, Eastern Produce Kenya Ltd. with 5.6%, and Williamson Tea with…
The Kenya Association of Manufacturers (KAM) has appointed EABL CEO and Group Managing Director, Jane Karuku, as its chairperson for a two-year term. Karuku will succeed the outgoing chairperson, Rajan Shah, who steered the Association since July 2022. Jane Karuku was the vice-chairperson of KAM since July 2022 and to deputize her in her tenure, the Association has appointed Hitesh Mendiratta. Hitesh Mendiratta is the Managing Director of PG Bison and has served the KAM board previously in various roles related to trade and tax affairs. “As I take up the mantle, I am looking forward to contributing to the growth of…
Pula, a Kenyan startup that offers insurance to small-scale farmers, aims to serve more than 100 million farmers in Africa after raising US$ 20 million in its Series B round. Blue Orchard, a global investment manager, led the raise through its program called InsuResilience that aims to protect 97% of uninsured small-holder farmers in Africa from the vagaries of climate change. Other investors in the raise include the IFC, the Bill and Melinda Gates Foundation, and Hesabu Capital.Pula has established a foothold in about 22 countries, including Kenya, Nigeria, Mozambique, Malawi, and Zambia – serving more than 15 million farmers with…
When VunaPay, an agritech startup that provides produce management solutions, was founded last year, its co-founder and CEO – Judy Njogu Mokaya – did not anticipate that the platform would gather momentum as fast as it did. Months later, the startup has brought on board three cooperatives, actively serving more than 9,000 farmers with tens of thousands more on a wait list. “Small-holder farming accounts for 30% of the nation’s GDP. But there is little value generated from this enterprise. A sign that something is broken in the sector. We cannot see the benefit of the earnings derived from small-holder…
More than 1000 football clubs globally spent $9.63 billion in last year’s transfers registering a 48.1% increase in figures from 2022. Professional players accounted for 31% of the transfer figures but dominated club spending. The top ten transfers used 10% of the entire money spent in the market with Real Madrid’s Jude Bellingham and Chelsea’s Enzo Fernandez crowning the list. English clubs were the biggest spenders with Chelsea and Liverpool ranked in the top three. German clubs were the biggest recipients. Due to the COVID-19 pandemic, transfers in the years 2020 and 2021 declined. The pace has seemingly risen between 2022 and…