Iran has sharply criticised Kenya for failing to hold accountable the officials and traders it says are responsible for a fraudulent tea export deal worth KSh2.6 billion (USD 20 million), warning that Nairobi inaction is the principal obstacle to restoring a trade relationship that once supplied Iran with millions of kilograms of Kenyan tea annually….
Kenya’s Central Bank on Tuesday raised Ksh100.5 billion in a heavily oversubscribed treasury bond auction, as investors rushed to lock in double-digit returns on two reopened long-dated government securities, underscoring robust appetite for Kenyan sovereign debt amid an evolving monetary policy environment. The Central Bank of Kenya (CBK) had advertised a target of Ksh50 billion…
Kenya’s Treasury is preparing to offer the struggling national carrier Kenya Airways to international investors in a landmark deal valued at up to Sh258 billion ($2 billion), marking the government’s latest attempt to rescue the debt-laden airline from years of financial turmoil.Treasury Cabinet Secretary John Mbadi announced Wednesday that an international expression of interest will…
The Kenyan government’s decision to divest a majority stake in Kenya Pipeline Company represents one of East Africa’s most significant infrastructure privatization initiatives in recent years, offering retail and institutional investors unprecedented access to a critical energy transportation asset. Under the initial public offering scheduled to close Feb. 19, 2026, the government will release 65%…
Africa’s leading e-commerce platform Jumia Technologies is charting a course toward profitability while defending its market position against Chinese competitors, executives said Wednesday. The Lagos-based retailer expects to achieve breakeven in the fourth quarter of 2026 and deliver its first annual profit in 2027, a significant milestone after years of restructuring. Narrowing losses signal turnaround…
Thousands of retail investors in Kenya Power and Lighting Company are poised to reap substantial returns after the state-controlled utility declared a 50% increase in its interim dividend, rewarding shareholders who bet on the company’s recovery.The board approved a payout of 30 cents per share, up from 20 cents in the previous period, following a…
Once a household name across Kenya, Uchumi Supermarket is staging a modest but symbolic comeback, reopening two outlets in the capital as the embattled retailer pushes forward with its long-running recovery under court supervision. Symbolic revival in capital The branches at Unicity Mall along Thika Road, near Kenyatta University, and at Lang’ata Hyper off Lang’ata…
Kenya has secured an extension of three Chinese loans used to build the Standard Gauge Railway (SGR), pushing the final repayment deadline to 2040 and easing pressure on public finances. The National Treasury announced that the dollar-denominated loans have been converted to yuan, with a new four-year grace period on principal repayments introduced. This effectively…
Diageo, the world’s largest spirits maker, has agreed to sell its 65% controlling stake in East African Breweries Limited to Japan’s Asahi Group Holdings for an estimated Sh297 billion ($2.3 billion) in net proceeds, the companies announced Wednesday. The deal, equivalent to about Sh297 billion at current exchange rates, also includes Diageo’s majority holding in…
A London court has ordered Kenyan businessman Paul Ndung’u to pay 374 million shillings ($2.9 million) in legal costs by Jan. 9 after rejecting his bid to reclaim a 17% stake in the holding company behind SportPesa, the prominent betting firm. The ruling intensifies a bitter dispute among the company’s co-founders, who once collaborated to…
