Cloud Services Push Konza City's Revenue to KSh 252.4mn, Other Income Streams Decline
Cloud services have emerged as the main revenue driver for Kenya’s flagship smart city, Konza technopolis, accounting for the highest proportion of the KSh 252.4 million the city generated in [...]
DTB Kenya's Q1 Net Income Grows 10%, Non-Interest Income Drops
Diamond Trust Bank Kenya’s (DTB) unaudited Q1 2025 results indicate the lender's profits grew 10% supported mainly by solid balance sheet expansion and a drop in non-performing loans, but tempered [...]
Sanlam's KSh 2.5bn Rights Issue Undersubscribed at 82%, Underwriter Fills Gap
Sanlam Kenya Plc has wrapped up its KSh 2.5 billion rights issue with an 82% uptake from shareholders, increasing its market float and opening a new chapter in its recapitalisation [...]Trump Administration Suspends New Student Visa Appointments, Plans Social Media Vetting
The U.S. Government has halted the scheduling of new student and exchange visitor visa appointments at its consulates worldwide, as the State Department prepares to implement enhanced social media screening [...]World Bank Proposes Reforms to Enhance Kenya’s Revenue
The World Bank has outlined a strategy that could strengthen Kenya's revenue system by addressing inefficiencies, inequities, and distortions in the current tax framework. “These issues significantly limit the country's [...]MultiChoice Africa Loses Bid to Lower VAT Obligations After Tribunal Ruling
The Tax Appeals Tribunal has dismissed a suit by media company, MultiChoice Africa Holdings BV, in a dispute with the Kenya Revenue Authority (KRA) over its decision to disallow VAT [...]EV Startup ARC Ride Secures US$5mn to Accelerate Electric Boda Rollout
Electric mobility startup ARC Ride has raised US$5 million in new financing to deploy 5,000 electric two-wheelers and expand its battery swapping infrastructure, marking a major step toward sustainable transportation [...]HF Group Delivers Record Q1 Profit
HF Group has delivered a standout performance in the first quarter of 2025, reporting a profit after tax of KSh 327.9 million—its highest Q1 result on record. Additionally, non-interest income [...]Kenya Cracks Global Top 60 in Startup Rankings, Driven by Nairobi Surge and Policy Shifts
Kenya’s startups ecosystem ranked 58th worldwide in the latest report by Startup Blink, outpacing all other African countries except South Africa, climbing back to second place after holding the third [...]NCPB Releases 200k Bags of Maize to Stabilize Prices
The National Cereals Produce Board (NCPB) has released the first batch of 200,000 bags of maize from the National Strategic Grain Reserve (NSR) to registered millers to help stabilize [...]Absa Bank Posts KSh 6.2Bn Q1 Profit, Revenue Dips 4%
Absa Bank Kenya PLC has reported a KSh 6.2 billion net profit for the first quarter of 2025, marking a 4% year-on-year increase, even as total revenue slipped 4% to [...]Kenyans Lose KSh 234.7Mn as Schengen Visa Rejections Hit 29%
Out of over 60,000 Kenyans who applied for Schengen Visas in 2024, 18,899 faced rejection and lost an estimated KSh 234.7 million in total fees, according to new data from [...]
