22 December 22

Audit to be conducted into the spending of the last days in Uhuru administration

President William Ruto’s government will scrutinize the large sums of money spent at the end of Uhuru Kenyatta’s administration. This is part of the requirement of the IMF’s ongoing 38- month budgetary support plan. According to a report by the
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19 December 22

Kenyan government planning to sell majority stake.

In recent talks between the US and Africa president William Ruto expressed readiness to sell all controlling stakes in the national carrier. This happened in a meeting that US president Joe Biden hosted. The Kenyan government is looking for a
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16 December 22

Kenya Drops Three Places In 2022 Africa Openness Index [AVOI].

Kenya is now ranked 31 in the latest ranking of the Africa visa openness index [AVOI]. The ranking measures the ease at which Africans can enter a particular country. The new position of Kenya is a new low, and it
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30 September 22

Telkom Kenya Now A State – Owned Company.

According to documents presented in the parliament, the Kenyan treasury purchased a 60 percent stake in Telkom Kenya. This purchase was done after the UK – based private equity fund, Helios Investment partners opted out. The deal was worth sh6.09
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27 September 22

Kenya To Start Exploiting AFCFTA For Better Trade

Kenya is set to export locally made batteries to Ghana thanks to Africa Continental Free Trade Area [AFCTA] framework. Kenya can now access markets in west and central Africa with minimal tariffs. Previously this could be extremely expensive as Ghana
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22 September 22

Local Tech Firms Lose Their Talent To Big Tech

Over the recent years, we have seen big American tech companies increase investment on the continent to take advantage of growing economies with rising access to the internet and a youthful population. Kenya and other African countries like Nigeria and
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09 September 22

Equity Bank Negotiating to Take Over Teachers – Owned Spire Bank.

Equity bank and spire bank have agreed on a complete takeover, this move is expected to save the teachers-owned bank out of negative growth. Equity bank becomes the latest bank to acquire a struggling lender as they search to expand
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03 August 22

Kengen To Diversify Into Fertilizer Production.

Kenya electricity generating company [KenGen], a state-owned company, has disclosed plans to set up a fertilizer production plant. It seems like the company has identified a gap in the market. Kenya is suffering from a dire shortage of fertilizer which
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30 July 22

Kenyan banks instructed to close accounts belonging to Flutterwave and Chipper Cash

The central bank of Kenya last week issued a directive to banking institutions in Kenya to shut down all accounts belonging to payment technology Flutterwave and Chipper Cash. This directive will also include freezing the cash from these payment technologies.
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27 July 22

Kenyan Authorities Say There Is ‘High Risk’ Jackpot Winnings Are Tied to Money Laundering.

There has been a realization by the financial authorities in Kenya the lucrative jackpot prize money can be a potential for money laundering activities. A report launched by Fred Matiangi, the interior cabinet secretary, draws suspicion on the origins of
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