Microfinance Banks' Losses Rise to KSh 2.4Bn
Kenya’s Microfinance Banks (MFBs) sank deeper into loss territory making a combined KSh2.4 billion loss before tax as at December 31, 2023, compared to a loss of KSh980 million as [...]
d.light Receives US$ 176 Million in Debt Funding for Regional Expansion
d.light, a company that provides solar-powered products, has raised about US$ 176 million to upscale its PayGo consumer finance offering that will broaden its operations across Kenya, Uganda, and Tanzania. [...]Court Blocks KRA from Charging VAT on Golf Club Memberships
The High Court has barred the Kenya Revenue Authority (KRA) from demanding payment of 16% VAT on golf club membership subscriptions and entrance fees. While this court as the tax [...]Green Manufacturing State Policy Fuel Demand for Warehouses
The Green manufacturing trend that has seen setting up of assembly plants for e-bikes and e-motorcycles and government policy on industrial parks is contributing to demand in warehousing space across [...]KenGen to Add 42.5MW of Solar Energy in Seven Forks
Kenya Electricity Generating Company (KenGen) is planning to add 42.5MW of solar energy in the Seven Forks area to scale up Kenya’s green energy deployment. “France is keen on partnering [...]Old Mutual, Absa Bank Launch Insurance Product for SMEs
Financial services conglomerate Old Mutual Kenya has partnered with Absa Bank Kenya to launch an insurance product for SMEs, the two companies said on Wednesday. The package will also include [...]Kenyan-owned Restaurant Swahili Village Fined KSh 68 mn in Wage Theft Case
Swahili Village, a Kenyan-owned restaurant chain in the United States, will pay US$ 526,000 (Kshs. 68mn) as restitution after it entered a no-fault settlement agreement with Washington DC to settle [...]Kenyan Climate-tech Bio-Logical Raises US$ 1.3Mn to Support Operations
Carbon-removal startup, Bio-Logical, intends to scale up their biochar production facility to handle 100,000 tonnes of Carbon dioxide over the next one and a half years, after receiving US$ 1.3 [...]Base Titanium Applies for New Prospecting License in Kwale County
Base Titanium has applied for a prospecting license for Titanium, Rutile, Zircon and Ilmenite minerals in Kwale County. “The application may be accessed from the Ministry’s portal vide the website [...]Business Paralysed as Protests Rock Key Towns in Kenya
Business came to a standstill for the better part of Tuesday in various parts of Kenya as demonstrators took to the streets protesting against the government on multiple issues. The [...]Africa's Office Market Recovers, Demand for Grade A Offices Rise Survey
Kenya's office occupancy rate now stands at 77 per cent, mirroring a recovery wave hitting other markets in Africa. In its biennial 2024/25 Africa Report, Knight Frank puts recovery across [...]Kenyan Startup Uncover Raises US$ 1.4mn For Expansion
Kenyan online marketplace for skincare products, Uncover Skincare, has raised US$ 1.4 million in its second seed round which will facilitate expansion into other markets such as the United States, [...]
