Startups to Capitalize on Incentives at TRIFIC SEZ Innovation Hub
Service sector businesses operating within the TRIFIC Special Economic Zone will reap the benefits of tax incentives, world-class facilities, and the SEZ's One-Stop-Shop business services centre to optimize their competitiveness [...]
BAT Kenya Net Profit Drops 18.8% to KSh5.6Bn As Taxes Bite
British American Tobacco (BAT) Plc, a listed tobacco manufacturer, has posted an 18.8% decline in its net profit for the full year 2023 to KSh 5.6 Billion from KSh 6.9 [...]
Cabinet Approves Sale of Development Bank of Kenya, 5 Others
The cabinet has approved the sale of Development Bank of Kenya (DBK) and five other non-strategic commercial state-owned enterprises. DBK commenced financing operations in 1964 and for a period of [...]Roam Raises $24mn in Series A Funding
Kenyan-based electric mobility startup Roam has raised $24mn in equity and debt in its Series A funding, the company announced on Wednesday. This funding is a critical step for Roam [...]
Saccos Rebrand to Grow, Ward Off Competition
SACCOs, especially those that engage in the deposit-taking business, have continued to rebrand to appeal to more members and beat stiff competition for deposits. The long list of DT Saccos [...]Kenya Floats Tender for Maturing US$ 2 Billion Eurobond
Kenya has announced a tender offer for its US$ 2 billion, 6.875% notes that are due to mature this June 2024. Receipt by Citibank NA London of all of the [...]Safaricom Plc M-PESA Customers in Ethiopia Hit 3.1M in Q3 2023
Safaricom, the leading mobile phone operator in the Eastern Africa region, has posted 3.1 million M-PESA customers since its launch in Ethiopia. “We are now interoperable with 9 banks including [...]Multichoice Rejects Canal Plus' Acquisition Offer
Multichoice board of directors has halted a buyout deal from Canal plus stating that the value of the South African company surpasses the initial offer. Canal Plus has built its [...]High-Performance Shoemaker Enda Athletic Acquired by NVH Studios
Enda, Kenya’s first high-performance shoemaker, has been acquired NVH Studios, a global fashion and lifestyle holding company, for an undisclosed amount. The acquisition opens doors to exciting possibilities, the company [...]
Viewership in Rugby World Cup 2023 Crossed 1bn Mark
World Rugby has reported that last year's Rugby World Cup in France recorded 1.33 billion viewing hours surpassing the legacy set by the tournament when it was hosted in England [...]FIFA Releases Global Report on Football Transfers in 2023
More than 1000 football clubs globally spent $9.63 billion in last year's transfers registering a 48.1% increase in figures from 2022. Due to the COVID-19 pandemic, transfers in the years [...]Analysis: Kenya’s Economic and Business Outlook for 2024
Editor’s Note: This is an abridged version of a full analysis of Kenya’s economic and business prospects for 2024. Read the full analysis here (PDF). In 2023, the Kenyan government [...]
