A group of Kenyan medical engineers has filed a lawsuit to halt the sale of Philips’ East African operations to an Egyptian company, arguing the deal could disrupt maintenance of critical hospital equipment and violate public procurement laws. The Association of Medical Engineers of Kenya asked a court to suspend the acquisition by GMED Group,…
Safaricom has obtained a $138 million (18 billion Kenyan shillings) loan from South Africa’s Standard Bank to accelerate its fast-growing operations in Ethiopia, the company announced Wednesday. Standard Bank, operating in Kenya as Stanbic, is the sole lender and arranger of the facility. The funds will be used to expand network infrastructure and digital services…
The Kenya Tea Development Agency on Tuesday rejected allegations that its factories mismanaged more than Sh26 billion ($200 million) in loans, saying all short-term commodity loans cited by regulators have been fully repaid and longer-term borrowings are being handled properly. The denial follows an audit by the Tea Board of Kenya that accused KTDA-managed factories…
Kenya’s most powerful business lobby has rejected a government bill that would create a new statutory council to coordinate private sector advocacy, calling the proposal unnecessary and poorly consulted. The Kenya National Chamber of Commerce and Industry (KNCCI) says the Public-Private Engagement Bill, 2025, should be scrapped. Instead, the government should simply grant statutory status…
Kenya’s bill for imported edible oils rose sharply to Sh25.61 billion in the April-June quarter of 2025, up 6.84% from a year earlier, even though the volume of oil brought into the country barely changed, official data showed Wednesday. The Agriculture and Food Authority reported that Kenya imported 183,139 metric tons of assorted edible oils…
Kenya’s leading telecom giant Safaricom has raised 20 billion shillings ($155 million) from the first tranche of its corporate green bond after the issue was oversubscribed by 177%, the company announced Monday. The five-year bond, which closed Friday, drew bids totaling 41.6 billion shillings against an initial target of 15 billion shillings. Safaricom exercised a…
Kenya’s state-run tea factories are staggering under 26.06 billion shillings ($200 million) in debt after years of loans taken without proper board approval, inflated collateral and diverted project funds, the country’s tea regulator said Monday. A Tea Board of Kenya audit, presented to lawmakers last week, documented widespread violations at factories managed by the Kenya…
Kenya is seeking for a new bilateral trade and investment agreement with the United States to replace earlier initiatives that ran aground, even as Washington proposes a one-year extension of the soon-to-expire African Growth and Opportunity Act (AGOA), a top Kenyan official said on Friday. Prime Cabinet Secretary Musalia Mudavadi, who also serves as Cabinet…
Kenya’s government has sold a 15% stake in telecom giant Safaricom for KSh240.5 billion, securing a vital cash injection while handing majority control of the country’s most valuable company to South Africa’s Vodacom. National Treasury Cabinet Secretary John Mbadi confirmed the transaction on Thursday, saying 6.01 billion ordinary shares were sold at KSh34 each to…
Arsenal announced the end of its eight-year tourism partnership with Visit Rwanda, with the African nation’s logo set to disappear from club sleeves at the end of the current season. Groundbreaking deal launched in 2018 The partnership, unveiled in May 2018, was worth around GBP10 million per year. Visit Rwanda branding appeared on men’s, women’s…
