Kenya’s internet landscape continues to evolve rapidly, and the latest player making waves is Starlink. A subsidiary of SpaceX, Starlink is known for offering satellite-based internet to regions with unreliable connectivity. Now, with its new mini kit, Starlink is making a bold move by lowering the cost of entry for consumers in Kenya. The newly…
Bayer’s Transformation in East Africa Bayer has completed a major shift in its East African operations, transitioning its Pharmaceuticals and Consumer Health business models. This strategic move, effective May 1, 2024, involves outsourcing critical functions like transportation, warehousing, distribution, and customer support to Imperial Distributors. This allows Bayer’s Kenyan entities to focus on corporate affairs,…
The Central Bank of Kenya (CBK) plans to raise KSh50 billion in August through a tap sale of reopened infrastructure bonds. These bonds, initially issued in 2023, are 6.5-year and 17-year terms with remaining maturities of 5.8 years and 15.7 years, respectively. They offer tax-free returns, with coupon rates of 17.93% for the 6.5-year bond…
The Central Bank of Kenya (CBK) plans to increase the minimum capital requirement for banks from KSh 1 billion to KSh 10 billion. This aims to strengthen the resilience of the banking sector and encourage mergers and acquisitions. Banks will have three years to meet the new requirement. The change is intended to fortify the…
The Capital Markets Authority of Kenya (CMA Kenya) has recently welcomed Infiniti n Beyond Limited into its Regulatory Sandbox to trial OwnMali, a pioneering blockchain-powered real estate tokenization platform. This move marks a significant step in integrating blockchain technology into the Kenyan real estate sector. What is OwnMali? OwnMali aims to democratize property ownership by…
Kenya’s microfinance banks (MFBs) are grappling with substantial financial setbacks, recording a loss of KSh 2.4 billion before tax by December 2023, a sharp increase from KSh 980 million in the previous year. This rise in losses signals serious difficulties in the sector, influenced by several critical factors. Key Factors Behind the Losses Major Contributors…
Moody’s Downgrade: A Wake-Up Call for Kenya Moody’s Investors Service downgraded Kenya’s credit rating from B3 to Caa1 after the Finance Bill 2024 failed to pass. This bill aimed to increase government revenue but was abandoned due to public opposition and concerns about its economic impact. As a result, Kenya’s fiscal deficit is projected to…
The Mobile Revolution Kenya, with over 32 million smartphones in use, is undergoing a financial transformation. Mobile money platforms like M-Pesa have revolutionized transactions, allowing many Kenyans to save, send, and receive payments without traditional banking. This change has been pivotal for 44% of the population previously excluded from formal banking services. Now, a new…
