Kenya moved closer to cement self-sufficiency Tuesday as Bamburi Cement signed a $250 million (KSh32 billion) contract with China’s Sinoma CBMI Construction Co. to build a major clinker production plant in Kwale County, with President William Ruto witnessing the deal. The engineering, procurement and construction agreement will establish a greenfield facility in Matuga with an…
Allan Kilavuka, the chief executive of Kenya Airways, is stepping down after six years at the helm of the troubled national carrier, the airline announced Tuesday. Kilavuka, who has led the company since April 2020, will begin terminal leave immediately ahead of the formal end of his contract in April 2026. Chief Operating Officer Captain…
A Kenyan High Court has ordered technology company DynamicNAV Systems Limited to pay 95.4 million shillings to consultancy firm Nisa Holdings Limited for breaching a 2020 agreement that helped secure a major parliamentary security contract. Justice Helene Namisi ruled Dec. 5 that the consultancy fee agreement was valid and enforceable. She rejected DynamicNAV’s claims that…
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…
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 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…
