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Turkish Aviation Firm Exits Tanzania to Focus on Kenya's Cargo Hub
Çelebi will reinforce its position in Kenya following its acquisition of Transglobal Cargo Centre Ltd, a ground handling and cargo operator at Jomo Kenyatta International Airport (JKIA).
Dubai's Soren Investment Acquires Gulf African Bank
Soren (UAE) and Auron (Kenya) acquire 57.72% of Gulf African Bank, buying out Al Salam Bank, Istithmar World, and IFC. Soren, with stakes in Sudan and Tanzania, is now the dominant shareholder.
WPP Scangroup's Losses Deepen to KSh 713 Mn as Airtel Exit, Client Flight Compound Four-Year Decline
WPP Scangroup posted a KSh 713.67 Mn net loss in FY2025, widening 40.8%, as revenue fell 16.3% to Ksh 2.04 Bn following the Airtel Africa exit, three CEO changes, and Tanzania wind-down.
Gov't to Accelerate Processing of Certificates of Good Conduct in KSh 2.71bn Plan
DCI processes roughly one million certificates annually, overwhelming physical service points such as Huduma Centres and contributing to persistent backlogs
Operational Weaknesses are Undermining Kenya's Startups - PwC
The audit firm points to a familiar pattern of startups scaling quickly on the back of venture funding but failing to build the operational foundations needed to survive once capital contracts.
Africa Holds US$2 Trillion in Domestic Capital But Still Imports 70% of Its Fuel, AFC Warns
Africa's domestic capital pools have crossed US$2 trillion for the first time, surpassing a decade of external financing flows, yet the continent imports more than 70% of its refined fuel and faces an 86-million-tonne shortfall by 2040, according to the AFC's State of Africa's Infrastructure Report 2026. AFC CEO Samaila Zubairu said the problem is no longer capital scarcity but intermediation. Pension and insurance assets crossed US$1 trillion for the first time, while the Iran conflict has exposed Africa's deep dependence on Gulf fuel imports.
Here's Everything You Need to Know About the France-Africa Summit in Nairobi This May
The Kenyan Wall Street's Bullish Africa Investors' Reception on May 11th, is set to build momentum toward the upcoming Bullish Africa Annual Summit at the 81st United Nations General Assembly (UNGA) in New York this September.
Musk v. Altman: Trial of the Century to Determine Who Controls AI’s Future
Elon Musk, a co-founder of OpenAI, wants Sam Altman to be removed from his role as CEO and is asking for damages in excess of US$ 100 billion to be paid to OpenAI’s charitable arm.
Treasury Targets KSh 90Bn in May With Largest Reopening of FY25/26 and Sixth Bond Switch
CBK has launched a KSh 90Bn May borrowing programme: a KSh 80Bn triple-tranche reopening of FXD1/2012/020 (6.6 years, 12.00% coupon), FXD1/2019/020 (13 years, 12.873%) and FXD1/2021/025 (20.1 years, 13.924%), alongside a KSh 10Bn switch from FXD1/2017/010 (1.2 years remaining) into FXD1/2021/020 (15.22 years, 13.444% coupon). The reopening is the largest of FY2025/26 and the first triple-tranche since April 2025. The switch is the sixth on record and fourth in 2026, with a coupon gain of 48 bps rather than a sacrifice. Net borrowing stands at KSh 767.75Bn, 87% of the revised target.
Kenya, Uganda Move to Own Their Oil and Minerals Value Chain
Kenya has committed to investing in Uganda's planned 60,000-barrel-per-day oil refinery, with President Ruto announcing the move at the Africa We Build Summit 2026 in Nairobi. The pledge extends a broader push by Kenya and Uganda to stop exporting unprocessed oil, iron ore, and critical minerals and own the downstream value chain. Ruto called for Africa to pool its copper, cobalt, lithium, and rare earth reserves to compete in global green manufacturing, warning that dependence on external capital serves foreign industrial interests over African ones.
Dangote to Build East African Oil Refinery in Tanzania
Aliko Dangote pledged at the Africa We Build Summit 2026 in Nairobi to build a 650,000-barrel-per-day oil refinery in Tanga, Tanzania, modelled on his Lagos complex, if Kenya, Uganda, and neighbouring governments support the initiative. Kenyan President William Ruto confirmed Kenya would also invest in Uganda's separate domestic refinery. The announcement came as the AFC warned Africa faces an 86-million-tonne fuel shortfall by 2040, with East Africa sourcing up to three quarters of its refined fuel from the Middle East.