Kenyan founded Fintech Pezesha Targets New Markets After Raising $11m in Pre-Series A Round
Kenyan founded Pan-African embedded finance Fintech Pezesha has raised a pre-series A funding round of $11 Million in a mix of $6 million equity and $5 million debt. The round [...]
Kenyans Borrowed an Average of Ksh 1.6 Billion Daily on Fuliza in 1H2022
Kenyans borrowed an average of Sh1.6 billion daily from Safaricom’s overdraft service, Fuliza, in the six months to June this year, showing increased dependence on the service that offers short-term [...]
Kenyan Coffee Prices Boom Following Shortage in Brazil
Kenyan coffee farmers may be set for an earnings boom following a major crop failure in Brazil, the world’s leading producer. Market analysts project a sharp rise in the global [...]Kenyan Shilling Drops to an all-time Low of Ksh 120 Against the Dollar
The Kenyan shilling hit an all-time low on Friday as economic uncertainties loom around the next head of government after nine petitions were filed challenging the Presidential-elect victory. The Kenyan [...]STIMA One Electric Partner to Deploy Electric Motorcycles in Kenya
STIMA, a battery swapping technology company targeting the deployment of convenient battery swapping infrastructure for electric motorcycles at scale, and One Electric, India’s leading electric motorcycle manufacturer, have announced their partnership [...]Kenya Airways Receives KSh6.27 Billion State Support
Kenya Airways (KQ) has so far received KSh6.7 billion out of the KSh26.6 billion of state support provided by the National Treasury on 4th February this year. According to the [...]Prices Stagnate at Weekly Tea Auction
The weekly Mombasa Tea Auction held on 22nd, 23rd and 24th August 2022 had 12.3 million kilograms of tea offered for sale. The amount on offer was similar as during the previous [...]Roam, Formerly Opibus, Launches 1st Electric Mass Transit Bus in Kenya
Swedish-Kenyan mobility startup Roam, previously Opibus, has launched a new electric mass transit bus, the Roam Rapid, which is specifically designed to address the unique challenges of public transport in [...]Pwani Oil Buys Stationery Firm Kartasi Industries for an Undisclosed Amount
Mombasa-based manufacturer Pwani Oil Products has bought stationery firm Kartasi Industries Limited for an undisclosed sum, seeking to further diversify its business. The Competition Authority of Kenya (CAK) said it [...]Co-op Bank Records 55% Jump in Half-Year Profits to Ksh 15.3 Billion
Co-op Bank Group has posted a Sh11.5billion half-year profit marking a 55.4 per cent jump compared to Sh7.4billion reported in the same period in 2021. The improved performance was attributed [...]NCBA Group Reports a Half Year Profit of Ksh 7.8 Billion
NCBA Group has posted a Sh7.8billion half-year profit, a 66 per cent growth from Sh4.7billion in the same period in 2021. The growth was attributed to rising income, with total [...]Bamburi Cement Reports 87.7% Decline in Profits to Ksh 95 Million
Bamburi Cement Group has recorded a Sh95million profit for the half year ended June 2022, an 87.7 per cent decline from Sh776 million reported in the same period in 2021. [...]
