Kenya Business News
Breaking Kenyan business, economy and policy news - markets, KRA and tax, fuel prices and company results from Nairobi and across Kenya.
Kenya Targets Export Transformation With Mombasa Port Tea Processing Directive
President William Ruto has ordered the construction of a major tea value addition facility at the Port of Mombasa to shift exports toward finished goods. The directive is accompanied by Ksh850 million in modernization funds to resolve operational inefficiencies across lagging factories.
By SHAHID YAKUB
Kenya Cabinet Approves US$350 Million Shareholder Financing to Rescue National Carrier
The Kenyan Cabinet has greenlit US$350 million in shareholder financing for Kenya Airways to stabilize its balance sheet and reactivate grounded fleet assets. This critical capital injection marks a major turning point for the flag carrier's operational recovery.
By SHAHID YAKUB
Prime Cabinet Secretary Musalia Mudavadi Defends Host Country Agreement for Africa Finance Corporation (AFC) Nairobi Hub
Solidifying Nairobi’s status as the commercial capital and premier development finance hub of East Africa, Prime Cabinet Secretary and Foreign Minister Hon. Musalia Mudavadi appeared before Parliament’s Committee on Delegated Legislation to champion the formal Host Country Agreement for the Africa Finance Corporation (AFC). The legislative approval paves the way for AFC to establish its first regional hub outside its Lagos headquarters, unlocking over KSh 260 billion ($2 billion) in targeted regional infrastructure capital.
By SHAHID YAKUB
Government of Kenya Signs KES 390 Billion ($3 Billion) Green Mobility MoU with Endelevu Enterprise and Geely Auto Group
Positioning East Africa as an emerging electric vehicle manufacturing hub, President William Ruto witnessed the signing of a landmark $3 billion (KES 390 billion) Memorandum of Understanding with Endelevu Enterprise Corporation and Chinese automotive giant Geely Auto Group. The proposed green mobility ecosystem targets an annual local assembly capacity of 150,000 electric vehicles alongside a nationwide network of 1,000 solar-powered charging hubs.
By SHAHID YAKUB
Kenyan Fintech Cloud9 Secures USD 500 K From Alliance To Scale Cross-Border Infrastructure
Kenyan fintech Cloud9 has raised USD 500 K from New York-based crypto accelerator Alliance, bringing its ongoing pre-seed round to a total of USD 1 M. The Nairobi-based company uses stablecoins to power multi-currency accounts and international payments for African enterprises.
By SHAHID YAKUB
Safaricom and GulfCap Investment Bank Launch Ziidi Shari’ah Money Market Fund on M-PESA
Expanding inclusive wealthtech solutions across Kenya’s digital ecosystem, Safaricom has partnered with GulfCap Investment Bank to launch the Ziidi Shari’ah Money Market Fund. Regulated by the Capital Markets Authority (CMA), the M-PESA-integrated product enables retail investors and businesses to earn market-driven, profit-sharing returns fully aligned with Islamic finance principles starting from as low as KES 100.
By SHAHID YAKUB
Ufanisi Deposit-Taking Sacco Installs CPA Samuel Ndoo Mutunga as Chief Executive Officer
Ufanisi Deposit-Taking Sacco Limited has appointed CPA Samuel Ndoo Mutunga as its new Chief Executive Officer following a competitive recruitment process. The leadership overhaul also introduces CPA Jelagat Kiprotich as Finance Manager to drive strategic growth, compliance, and institutional stability.
By SHAHID YAKUB
Barrick Secures 15-Year Extension for North Mara Gold Mine Following Multi-Billion Dollar Tanzanian Contribution
Tanzania has renewed Barrick Mining Corporation's special mining licences for the North Mara gold mine until 2041, extending operating rights following a reported $5.3 billion economic contribution. The landmark extension underscores the enduring impact of the 2019 Twiga Minerals partnership framework.
By SHAHID YAKUB
Posta Kenya Records Over 10% Financial Growth Driven by Digital Transformation and Last-Mile Logistics
Posta Kenya has achieved over 10 percent financial growth for the 2024/2025 financial year, propelled by a comprehensive digital overhaul. Under the leadership of Postmaster General John Kipyegon Tonui, the legacy institution is redefining African postal services through technology-driven logistics and digital payments.
By SHAHID YAKUB
Central Bank of Kenya Seeks Direct Executive Powers Under New National Payment System Bill
The Central Bank of Kenya and the National Treasury have introduced the National Payment System Bill, 2026 to overhaul regulatory oversight. The proposed legislation grants the regulator sweeping powers to inspect premises, remove executives, and intervene directly in payment firms.
By SHAHID YAKUB
African Development Bank and Family Bank Secure Sh1.297 Billion Trade Facility to Back Kenyan Enterprises
The African Development Bank and Family Bank have finalized a Sh1.297 billion trade finance agreement designed to ease foreign currency access and credit constraints for Kenyan enterprises. This transaction targets critical sectors including manufacturing, agriculture, and renewable energy while addressing broader structural trade finance deficits.
By SHAHID YAKUB