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Tag: Kenya

Trans-Niger pipeline resumes operations after blast
Oil and Gas

Kenya launches historic $824m pipeline company IPO sale

Kenya has launched the sale of a 65 per cent stake in its state-owned oil pipeline operator, seeking to raise KSh106.3 billion ($824 million) in what could become East Africa’s largest initial public offering in local currency terms. The listing, which took place on Monday, is expected to surpass the landmark 2008 Safaricom Initial Public […]

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Vodacom acquires Kenya’s Safaricom with $2.1bn

Vodacom Group Ltd. is set to take control of Safaricom Plc after striking a $2.1 billion deal to acquire additional shares from the Kenyan government and Vodafone International Holdings BV. This significant move deepens Vodacom’s bet on East Africa’s most profitable telecom market. In a stock-exchange filing, the South African operator said it will buy […]

Aviation

12 feared dead as tourist plane crashes in Kenya

A small aircraft en route to the Maasai Mara crashed Tuesday in Kenya’s coastal Kwale region, with all 12 people on board feared dead, officials said. The plane went down in a remote, forested area roughly 40 kilometers from Diani airstrip. Kwale County Commissioner Stephen Orinde said that the passengers were foreign tourists, though their […]

Kenyan fintech HoneyCoin raises $4.9m to expand African stablecoin payments
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Kenyan fintech HoneyCoin raises $4.9m to expand African stablecoin payments

Kenyan fintech startup HoneyCoin has secured $4.9 million in seed funding to accelerate its expansion into African, Latin American, and Asian markets. The round was led by Flourish Ventures, with participation from TLcom Capital, Stellar Development Foundation, Lava, Musha Ventures, 4DX Ventures, Antler, and Visa Ventures. Founded in 2020, the Nairobi-based company operates stablecoin-powered payment […]

Safaricom cuts fibre prices as Starlink faces decline in Kenya
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Safaricom cuts fibre prices as Starlink faces decline in Kenya

Safaricom has slashed the cost of new business fibre connections by 25% for the next two months, targeting firms in fibre-ready buildings as satellite rival Starlink grapples with a shrinking user base. The price cut, announced at a Nairobi business forum on Monday, lowers the entry-level 15 Mbps plan to KES 2,249 ($17.44) a month […]

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Sun King secures $156m to expand solar access in Kenya

One of Africa’s largest off-grid solar companies, Sun King, has raised $156 million to deepen its footprint in Kenya’s energy sector. The funding will enable the company to deliver up to 1.4 million solar products and smartphones to homes and small businesses, many of which remain off-grid. The financing comes from a coalition of international […]

Kenyan logistics startup Leta expands into Ghana
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Kenyan logistics startup Leta expands into Ghana

Kenyan software startup Leta has announced its expansion into Ghana, marking its seventh market across Africa. The move comes just months after it secured a $5 million seed funding round in March, a rare feat amid a sharp decline in logistics tech funding across the continent. Founded in 2021 by Nick Joshi, Leta develops AI-powered […]

Roqqu acquires Kenyan crypto exchange Flitaa
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Roqqu acquires Kenyan crypto exchange Flitaa

Nigerian crypto startup Roqqu has announced the acquisition of Flitaa, a smaller crypto exchange with operations in Nigeria and Kenya, in a move that marks its entry into East Africa’s fast-growing digital asset market. Although the exact value of the all-cash deal was not disclosed, sources estimate it to be between $85,000 and $350,000. The […]

Safaricom CEO Peter Ndegwa becomes highest-paid executive on Nairobi
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Safaricom CEO Peter Ndegwa becomes highest-paid executive on Nairobi

Safaricom Chief Executive Peter Ndegwa earned a record KES 294.2 million ($2.2 million) in total compensation for the year ending March 2025, making him the highest-paid CEO on the Nairobi Securities Exchange. The payout marks a 17% increase from the previous year, as the telecoms giant returned to growth and raised executive pay. According to […]

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Safaricom loses trillion-dollar valuation days after rise

Kenya’s largest telecom operator, Safaricom, has slipped below the trillion-shilling mark just days after briefly reclaiming the coveted status. On June 12, the company hit a KES 1 trillion ($7.7 billion) market capitalization for the first time since October 2022, becoming the most valuable company on the Nairobi Securities Exchange. However, as of market close […]

Kenya eyes Safaricom stake sale to raise $1.1bn amid debt
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Kenya eyes Safaricom stake sale to raise $1.1bn amid debt

Kenya is preparing to sell part of its 34.9% stake in Safaricom as it seeks to raise $1.1 billion (KES 149 billion) through privatisation, aiming to shore up public finances without introducing new taxes in a struggling economy. The planned divestiture is expected before the end of the 2025/26 fiscal year and would be the […]

Kenya to ban cashless-only payments for small transactions
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Kenya to ban cashless-only payments for small transactions

A new bill before Parliament could soon make it illegal for Kenyan businesses to refuse cash for purchases under Ksh100,000 ($775), in a move aimed at safeguarding financial inclusion amid the country’s rapid digital shift. The Central Bank of Kenya (Amendment) Bill, 2025, tabled by Suba South MP Caroli Omondi, proposes that all businesses operating […]

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