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Tag: Kenya

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 […]

Yuletide: Nigerian family demands $1m over Kenya airways mishap
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Yuletide: Nigerian family demands $1m over Kenya airways mishap

A Nigerian family has demanded $1 million in general damages and compensation from Kenya Airways over a disrupted Christmas trip involving their daughter, a minor. The family, represented by Donald Ibebuike of the Creed & Brooks Partners law firm, addressed the airline in a letter dated December 21, 2024, accusing it of exposing them to […]

Criticisms trail Kenya's drop in Visa Openness rankings
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Criticisms trail Kenya’s drop in Visa Openness rankings

Kenya has fallen in the latest rankings of visa openness for African visitors, despite introducing a “visa-free” policy earlier this year. According to the 2024 Africa Visa Openness Index, Kenya dropped 17 places to 46th out of 54 countries. This decline follows the implementation of a new travel authorization system requiring most visitors from African […]

News

IMF approves $606m loan for Kenya

The International Monetary Fund said it had cleared $606 million in lending to Kenya as it struggles to pay off debts and boost taxes after mass protests led to financial reforms being scrapped. Kenya is considered an economic bright spot in the troubled East African region. But it is grappling with around $80 billion in […]

Kenya shuts down internet amid violent protests over finance bill
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Kenya shuts down internet amid violent protests over finance bill

Yesterday, June 25, protests against Kenya’s Finance Bill 2024 turned violent, with reports of internet throttling and disruptions adding to the chaos. Kenyans, rallying under the hashtag #RejectFinanceBill2024, took to the streets in large numbers. Tragically, the unrest has resulted in deaths and raised significant concerns about digital rights and freedom of expression. NetBlocks, a […]

CEOs of East Africa's largest fund DOB Equity step down
News

CEOs of East Africa’s largest fund DOB Equity step down

Co-CEOs of Dutch family fund DOB Equity, Saskia Van Der Mast and Hayo Afman, have stepped down, marking a transition in the leadership of one of East Africa’s largest private equity funds. Van Der Mast led the fund for 19 years, while Afman served for 9 years. Taking over the reins of the firm’s day-to-day […]

Kenya waives visa fees for Ethiopia, five other nations
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Kenya waives visa fees for Ethiopia, five other nations

Kenya has started making some adjustments to its online visitor registration service in an effort to facilitate travel into its borders. According to Business Insider, this will include a visa fee waiver for select partner nations. The fee waiver follows bilateral agreements between several nations that took effect on February 15. The project intends to […]

Nigerian edtech startup AltSchool expands into Europe
Tech

Nigerian edtech startup AltSchool launches in Kenya

Nigerian edtech startup, AltSchool Africa has opened up in Kenya, its second biggest market by revenue, the company’s co-founder, Adewale Yusuf disclosed. East African nation, Kenya generates the second-highest income for the startup. As a result, AltSchool will now concentrate on offering its Kenyan clients direct assistance in addition to working to expedite local payment […]

Kenya waives visa fees for Ethiopia, five other nations
Investment

Kenya, Egypt, Nigeria top Africa’s investment destination list – Report

Africa’s investment landscape is shaping up to be a captivating story of growth and expansion, with Kenya, Egypt, Nigeria, and South Africa emerging as the top funding destinations. According to the “Africa Investment Report 2023,” Kenya, Egypt, Nigeria, and South Africa would account for 68% of the continent’s total investment in 2023. According to the […]

Kenya overtakes Nigeria in start-up funding ranking
Business

Kenya overtakes Nigeria in start-up funding ranking

Alex Omenye Nigeria lost the top position for the most funded startups in Africa to Kenya. This development was contained in an analysis of the African startup funding in 2023 by a research outfit, ‘Africa: The Big Deal.’ The report stated that startups in the East African country attracted the largest amount of funding in […]

Netflix's ad-supported subscription plan rises to 94m users
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Netflix ends free subscription plan in Kenya

Netflix said on Monday that its free mobile plan in Kenya, which gave subscribers access to a quarter of its episodes and films for free for the previous two years, is coming to an end. It did not specify how many subscribers were gained as a result of the promotion strategy, which was created to […]

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