Integrated News & Knowledge

Why Kenya? A Blueprint for Innovative Companies

Kenya presents an array of viable business opportunities for Innovative Companies. The country adopts a market-based economy that represents the largest and most advanced economy in East and Central Africa. This noteworthy development is further highlighted by the country's GDP standing, which accounts for more than 50% of the regions total. Current estimates project the…

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Why Tanzania? A Blueprint for Innovative Companies

Tanzania presents an array of viable business opportunities for Innovative Companies. The country adopts a market-based economy that represents the second largest economy in the East African Community (EAC). Of importance, the country's Growth Domestic Product (GDP) is projected to remain robust at 6.7% in 2018 - and 6.9% in 2019, representing one of the best…

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Microsoft advances Artificial Intelligence (AI) in Africa

Digital advancements are radically transforming industries around the world – with Artificial Intelligence (AI) becoming an increasingly vital competitive resource for businesses, worldwide. According to PricewaterhouseCoopers (PwC), modern technologies like AI will contribute up to $15.7 trillion to the global economy by 2030. This makes it the biggest commercial opportunity in today's ever knowledge intensive…

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Kenyan firms named in world emerging FinTech Companies

Two Kenyan companies have been named among the Top 50 emerging FinTech companies in the world - in this year's KPMG FinTech100 report The two include Digital payments provider Cellulant, and Mobile loans provider Tala that are among the three African companies representing Africa, to be included in the list of leading global FinTech innovators…

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Tala secures investment from PayPal

Tala has recently secured a strategic investment from PayPal. Even though that the company did not disclose the investment's exact value, Tala's CEO and founder, Shivani Siroya, noted that the investment will enhance their mission of reaching more consumers by delivering heightened financial access, choice and independence. She noted that PayPal's investment would help Tala…

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Moi International Airport to get 500kw solar photovoltaic system

Solarcentury East Africa will install a 500 kiloWatt solar photovoltaic system at Mombasa's Moi International Airport - that will generate 820,000 kW per hour, per year. The system will be interconnected to the airport terminal grid, and will prioritise solar power consumption over the grid. The solar system will enable Moi International Airport to save…

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US firm to build 330MW plant in Suswa

 US-based renewable energy tech firm CYRQ Energy will spend Sh30 billion in putting up a 330MW geothermal power plant in Suswa area, Narok County. Chief executive Nicholas Goodman said applications for approval had been sent out to regulatory agencies in Kenya after feasibility studies conducted at the site confirmed availability of adequate thermal energy to…

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Finland’s Economic Affairs Minister leads a Business Delegation to Kenya

Finland's Minister for Economic Affairs, Mika Lintilä, will lead a Team Finland visit to Kenya – aimed at promoting exports and international trade. The business delegation accompanying the Minister comprises about 50 representatives from companies and research institutes in the - digital, energy, bioeconomy, cleantech, mining, education and health sectors, among others. A broad range…

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USAID extends Sh940m loan to Musoni for small-scale farmers

USAID has recently signed a Sh940 million loan portfolio guarantee agreement with Musoni Microfinance. This risk mitigation agreement will enable Musoni Microfinance to develop and roll out innovative financial loan products to increase access to credit within Kenya's agricultural sector, especially within - cereals, dairy, livestock and horticulture value chains. Small-scale farmers, individuals, associations, cooperatives…

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Samsung opens largest Africa retail store at Two Rivers Mall

Samsung Electronics has opened a 700 square feet interactive store at Two Rivers Mall, Nairobi, Kenya - making it the largest Samsung Experience Store in Africa. Sung Yoon, President and CEO of Samsung Electronics Africa said the opening of the new store was in line with the firm's strategy of re-aligning its business operations in…

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Cytonn and Finland’s Taaleri enhance partnership

Cytonn Investments Management Plc (Cytonn) has entered into a transaction with its leading institutional partner, Taaleri of Finland, allowing Taaleri to subscribe up to 20% of Cytonn's shares. Upon consummation, the transaction enhances Cytonn's and Taaleri's relationship - beyond project finance, to shareholding. This will be the fifth time the Finnish firm will be investing…

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Huawei launches latest device in Kenya

Chinese tech multinational Huawei has launched its Y9 2019 smartphone targeting the middle-class, within the Kenyan market. Huawei recently launched the availability of pre-orders - ahead of availing the phone on Kenyan shelves. Locally, the new device will retail at Sh24,990 at all consumer electronics retail stores as well as on online marketplaces. "We are…

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Tanzania remains attractive to FDI’s despite regional slow down

Tanzania's economy has continued to show resilience, with the country remaining attractive to Foreign Direct Investments (FDI's) and Private Equity Investments - despite a slowdown witnessed in the region last year. The country's FDI in-flows have been above most of the ones experienced in other East African countries - within the last five years. In…

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Germans successfully test drones to deliver medicine in Tanzania’s remote Island

Three German organisations have successfully tested the use of a drone to deliver medical supplies in Tanzania's remotest Island, within lake Victoria's Ukwere Island. German drone manufacturer Wingcopter, DHL and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH successfully tested the delivery of medicines using the autonomous DHL Parcelcopter 4.0. The drone flew the 60…

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Samsung brings Galaxy Note 9 to Kenyan market

South Korean electronics giant Samsung has introduced the Galaxy Note 9 512GB model in Kenya, targeting customers who need to get work done on-the-go. Samsung Electronics East Africa head of mobile division Charles Kimani on Wednesday said limited storage was one of the pain points identified by consumers, hence the option of a 512GB variant.…

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Turkey and Hungary invests heavily in Kenya’s health sector

Turkey and Hungary have partnered to offer health solutions to Kenya, in a bid to share experiences in public health, as well as technologies in health - with their Kenyan counterparts. As a precursor, in a recently organised medical camp, the two countries organised a medical camp at the Kiambu General Hospital, north of Nairobi…

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Team Canada arrives in Kenya for business deals

A group of Canadian companies has pitched tent in Nairobi - as they seek to seal business deals and investments within the East African economic powerhouse. This comes as Canada remains keen to expand and deepen its trade and investment relationship with Kenya. The firms are eyeing investments in renewable energy, oil & gas, geophysical…

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Google injects Sh.100m into farm digitisation in Kenya

Tech firm Google has recently pledged a Sh.100 million grant for training Kenyan farmers on digitisation, and how to leverage technology for increased earnings. The training in partnership with non-profit organisation One Acre Fund, is expected to reach more than 100,000 smallholder farmers across the country - equipping them with requisite skills for digitising their…

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Finland to invest in African wind-energy projects

Finland has pledged 114 million euros over four years for clean energy projects in developing countries - that will be repaid with interest, over the next 25 years. Foreign Trade and Development Minister Anne-Mari Virolainenhas this week pledged some 1.5 million euros to fund climate projects, particularly in low-income countries, according to the Foreign Ministry. The…

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Kenya, Nigeria and Rwanda enter into a new Blockchain enterprise-training venture

Everest, a biometry-based, value -transfer company, and 1000 Alternatives, a leader in social impact development, have announced a new partnership created to accelerate Blockchain innovation and spur economic development in - Kenya, Nigeria and Rwanda, with the goal of extending that endeavour throughout Africa. The partnership will utilise 1000 Alternatives' incubators in each country to…

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Kenya and Ethiopia whet the appetite of Hyatt Hotel’s East Africa expansion Strategy

Chicago headquartered Hyatt Hotels Corporation has announced that three of its new Hyatt-branded hotels expected to open in Africa by the end of 2020 - will be based in East Africa. The Hotel chain will open two outlets in Nairobi, and an extra hotel in Addis Ababa. Other establishments will include expansions to Cairo, new…

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Rwanda and Kenya providing rich ground for Cryptocurrency growth in East Africa

Paxful, a peer-to-peer marketplace built on open source Bitcoin and Bockchain technology, has cast its focus on the East African market, with a presence in Rwanda, as well as venturing into Kenya. In just 3 years, Paxful has become one of the world's leading peer-to-peer Cryptocurrency marketplaces built on open source Bitcoin and Blockchain technology.…

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Toshiba eyes EA market with Sh500m Nairobi Warehouse

Electronics manufacturer Toshiba has invested Sh500 million to open its first regional warehouse in Nairobi's Karen, becoming the latest electronics giant to set up a base in Kenya this year (2018). The Tokyo-based brand hopes that bringing its stock closer to its East African customers - will significantly lower the cost of its products. The…

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Kenya wins bid to host 6th International Open Data Conference

The Government of Kenya has won the bid to host the sixth International Open Data Conference in Nairobi, which will be held in Africa for the first time - in 2020. According to organisers, the decision to host the conference in Nairobi is based on the consistency and high-level leadership of Deputy President William Ruto,…

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Radisson Hotel Group to open 10 new hotels in Africa

Radisson Hotel Group has announced plans to open 10 new hotels within the African market - at the on-going Africa Hotel Investment Forum in Nairobi. The group has 90 hotels with 18,000+ rooms in operation and under development - across 31 countries and plans to reach 130 hotels and over 23,000 rooms in Africa, by…

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US tax consultancy Andersen Global launches Kenya operations

American tax advisory company, Andersen Global, has officially started its Kenya operations as it targets the growing list of transnational firms with local subsidiaries and foreign direct investment in East Africa. Andersen first entered the Kenyan market early this year through a partnership with Nexus Business Advisory, a local tax consultancy founded by former Head…

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Alibaba Business School launches eCommerce training programme for Rwandan Universities

In a move that further underlines its commitment to grooming the next generation of global entrepreneurs, the Alibaba Business School has launched the Global eCommerce Talent (GET) initiative - a programme designed for educators in Rwanda. The GET initiative is a "train-the-trainers" programme that is meant to train Rwandan university teachers on the underlying concepts and mechanisms…

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Kenya and the UN sign deal to deliver 100,000 affordable housing units

Kenya's President, Uhuru Kenyatta has recently witnessed the signing of a deal to deliver 100,000 affordable housing units. The project will be financed through a partnership between the Kenya Government and the United Nations Office for Project Services (UNOPS). The signing of the deal took place on the sidelines of the on-going 73rd United Nations…

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Hyatt Hotels to open two affiliate properties in Kenya

Hyatt Hotels has announced its first branded hotels in Kenya - in partnership with Kanha limited. Hyatt Place Westlands and Hyatt House Westlands - will comprise 233 guestrooms in total, and are both expected to open in early 2020. According to the company, the brands are a result of extensive consumer research indicating that guests…

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UK investor gets Sh7.1bn for expansion into Kenya

Kenyan farmers stand to benefit from a £55 million (about Sh7.1 billion) funding from the British government to - UK-based agribusiness investor AgDevCo. The firm says it will use the cash to support its current investments in African countries as well as to expand its operations into Kenya. The funding will be disbursed through the…

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UK developer plans mega Nairobi mall

British architectural firm, aLL Design and Nanyuki Cedar Mall developer, Kiloran Development Group are constructing a shopping mall off Nairobi's city centre that is set for completion in 2020. The new mixed use property, dubbed The Beacon, will be 28,500 square metres (306,771 square feet) and set on a site off the east of Uhuru…

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Kenyan tech start-ups raise billions from Foreign Investors

Kenyan tech start-ups attracted more funding from international investors compared to peers within Sub-Saharan Africa's market area - in 2017, a new report shows. The country's 27 tech firms received a total of Sh14.7 billion ($147 million), and were only surpassed by South Africa, which received Sh16.79 billion ($167.9 billion) for its 42 start-ups. The…

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Dutch firm eyes Kenyan groups with CSR Platform

GoodUp, a Netherlands-based social enterprise, has launched in Kenya to tap into large corporates -willing to pump part of their profits into Corporate Social Responsibility (CSR) programmes. The firm will offer a one-stop display for CSR activities they are funding, number of employees willing to join and also open room for crowd-funding for such projects.…

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Solarcentury installs 506kWp hybrid plant at ALP facility, Tatu City

Solarcentury East Africa has installed a 506 kWp hybrid solar PV plant at Africa Logistics Properties (ALP) - that aims to save tenants Sh12 million each year. The solar system has been mounted on the rooftop of ALP's three warehouses and is expected to generate 800,000 kiloWatts per hour annually. The hybrid system, which consists…

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Africa’s PE market remains upbeat with Education among top Investments

Private Equity investments in Africa remain robust, market indicators reflect - with the education sector being among the top areas of investment. The increasing investor interest in PE's is attributable to rapid urbanisation, a resilient and growing middle class and increased consumerism. Overall, Sub Sahara's private markets have been termed as "attractive" - in terms…

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Skin Care store Yves Rocher opens at The Hub, Karen

France based cosmetic company, Yves Rocher has opened its new Lab store at The Hub - to target the fast-growing Kenyan middle-class population.The store counts three beauty advisors and more than 800 product categories, to ensure a global beauty offering that caters for women in an environmental friendly way. Yves Rocher, which is known for…

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Global Blockchain firm to open logistics hub in Kenya

First global logistics cryptocurrency, TMX Global coin is set to set up shop in Kenya. TMX Blockchain Logistics is using blockchain technology to enhance cargo logistics business - by having more open, transparent and democratic process, as well as using a decentralised system, where all the users are able to talk to each other on…

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Elon Musk’s Tesla hunting for engineering minds from Kenya

Tesla's Senior Director of Engineering, Charles Mwangi has hinted of the company's desire to have Kenyan minds in its engineering team. Mwangi, who spoke at a fireside chat on Next Generation manufacturing, said the American green energy multinational corporation is recruiting talent from Kenya to work its California factory. Tesla specialises in manufacturing electric vehicles…

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Rwanda’s Exuus Secures USD 50K from Leapfrog Ventures

Exuus, a Rwandan micro-lending platform that is looking to break new ground in the area of offering credit facilities to unbanked individuals in Rwanda and other neighbouring countries - has benefited from an investment valued at USD 50K from Japanese investment firm, Leapfrog Ventures. As spelt-out in a press release issued by the Japanese investment…

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Two US Companies to invest Sh23b in Wind Power and Agriculture

Kenya's president, Uhuru Kenyatta, has recently (August, 2018) witnessed the signing of two agreements that will see two US companies invest $238 million worth of projects in Kenya- as he urged the US government to facilitate the operations of US businesses in Africa. Taking cue from President Kenyatta's call, the US Overseas Private Investment Corporation …

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Business leaders to accompany UK Prime Minister in first visit to Africa

Prime Minister Theresa May will make a three-nation visit to Africa this week, her first to the continent - since becoming the British leader in 2016, aimed at boosting post-Brexit trade ties. May, joined by several ministers and 29 business representatives from various industries, will visit South Africa, Nigeria and Kenya - during the three-day…

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NGO inks Sh504 million deal for Kenyan farmers

Calvert Impact Capital, a US-based non-profit that raises funds for organisations with a social and environmental focus, has loaned $5 million (about Sh504 million) to One Acre Fund, a US-based NGO that supports farmers in Kenya and five other African countries. One Acre said it plans to use the proceeds for agricultural needs for Kenyan farmers…

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Tanzania’s Jamii Africa Secures Investment From NewWave Technologies’ CEO

Jamii Africa, a Tanzanian InsurTech start-up, has announced the receipt of investment from US-based entrepreneur, Patrick Munis. The latest injection of funding into the enterprise inches it closer to its targeted USD 2 Mn. - a benchmark that should facilitate its expansion plans into parts other of East African, and particularly in Kenya. Since coming…

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Kenya’s Pezesha Secures Seed Investment From Consonance Investment Management

Kenyan FinTech start-up, Pezesha, has secured investment in the form of seed funding from Consonance Investment Managers.The seed investment is expected to go a long way towards helping the micro-lending start-up – to expand its operations into parts of Eastern and Western Africa. Pezesha is looking to carve a niche for itself in the area…

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Five ways Kenyan government bets will boost Manufacturing sector

The Kenyan government has outlined five key points aimed at increasing the contribution of the manufacturing sector to the country's GDP, PS for Investment and industry, Betty Maina has said. This emerged at the round table that was hosted by the Kenya National Chamber of Commerce and Industry (KNCCI), where players from the private sector…

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Kenya’s FinTech Lendable secures funding from Dutch Development Bank

Lendable, the first debt platform designed specifically for African alternative lenders - non-banking, asset backed finance providers operating in microfinance, and a range of Pay-as-you-go (PayGo) services - has continued to attract investors with the entry of Dutch funders. The Kenyan firm has received a USD 4.5 Million convertible grant from Dutch funder, FMO. The convertible grant is…

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Ethiopia opens plant to turn waste into energy

Ethiopia has recently inaugurated a power plant that converts waste into energy. Named Reppie, the facility is the first of its kind in Africa, according to the government and the British company Cambridge Industries behind the project, and will turn 1,400 tons of waste per day into energy. Ethiopian President Mulatu Teshome said at the ceremony…

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Hapag-Lloyd invests in growing East African Market

Hapag-Lloyd container shipping line is significantly growing its import and export in the East African region, where it handles massive investments.The firm recently announced that it will continue to focus on the growing market in East Africa, which has a great potential. With annual growth rates of approximately 6%, it said that the region tops…

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Safaricom, Google unveil Sh.3,499 smartphone, with flexible payment option

Safaricom, Kenya's Largest Mobile Operator, has launched a three-month campaign to increase smartphone uptake amongst Kenya's phone users - by offering affordable 3G devices, convenient payment terms and personalised data offers. Through the "Maisha Ni Digital" campaign, Safaricom hopes to give at least 10 million Kenyans access to the internet through their mobile phones -…

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The growing demand for Kenyan avocados in Europe

Across Kenya's ochre fields, farmers are abandoning coffee and tea cultivation - for avocado cultivation, in a bid to profit from increasing European demand for the crop's delicacies. Among them is Simon Kimani, 73, who cultivates five acres (two hectares) of avocado trees. "Recently when the avocado trade started growing up we thought that it…

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KEPSA leads mission to Finland as it seeks deeper Trade-ties

The Kenya Private Sector Alliance (KEPSA) is counting on an upcoming Investment Forum in Helsinki, Finland - to deepen trade ties between Kenya and Finland. KEPSAwill be leading a Kenyan trade delegation to Finland, where it expects to pitch for business opportunities at the forum, scheduled for October. The investment forum is set to be…

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Nairobi going Green with Nopia Ride all-electric vehicle cab service

Finnish company EkoRent, which was founded in 2014, and is headquartered in Helsinki, Finland, provides the service. "We have now launched our zero-emission electric transportation service pilot in Nairobi. We aim to increase our fleet size to around couple of hundred vehicles by the end of the year," the company says, calling on Kenyans to…

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Thousands of students needed to register for Huawei’s ICT Competition

Huawei has completed its second round of registering local students - for its global ICT Competition 2018-2019 in Kenya. The round which concluded in July 2018, has seen more than 1000 students from different universities registered, adding up to a total number of 1121 students from 13 universities. Among the universities that registered students include…

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Germans placing their bets in Kenya’s Healthcare Industry

German leading pharma-company Boehringer Ingelheim, also a global pharmaceutical leader, has announced the launch of the 'In Reach Africa' program, an initiative aimed at facilitating quality and innovative human and animal healthcare access across the African continent. The program is set to kick off in Kenya and to expand throughout major African markets including Nigeria,…

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Britain commits £21m for Kenya’s revamped Export Strategy

Britain has announced support for Kenya's foreign trade and export strategy through a £21 million funding round -via Trade Mark East Africa, with an objective of growing Kenya's external export account. The Export Development and Promotion Strategy that was unveiled by Kenya's Deputy President William Ruto, along with several other recent initiatives in the trade…

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How Rwanda has strategically positioned itself as an Investment Hub

Rwanda is banking on its political stability, good governance and well-functioning institutions to keep on attracting new investments into the country. The East Africa state is on an aggressive global charm-offensive to lure new investors, while enticing existing financiers to re-invest in the landlocked country, which has proven to be an increasingly strong economic powerhouse…

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Tech Firm Tulaa gets Sh63m for Expansion

Agricultural platform Tulaa has secured a seed investment of $627,000 (about Sh63 million) from institutional investors - AHL Venture Partners, Eleos Social Venture Fund, Beyond Capital and Rafiki Ventures. Tulaa said it will use this first equity injection to fund its continued expansion in Kenya and for further development of its technology platform. Through the…

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Top Diplomats pledge Investments to Kenya’s Technical Education

Diplomatic missions and representatives of Investment Banks in Kenya have pledged to boost investments in Kenya's technical education as way of achieving the country's developmental goals– mainly in manufacturing, food security, affordable health and housing. The team drawn from the US, EU as well as individual countries in Europe, India and the Africa Development Bank…

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French firms seeking a piece of the pie in Kenya – investors flocking in from Paris

France24, the international news channel based in Paris, has launched a free to air channel in Kenya in what is seen as a renewed appetite for Nairobi, Kenya - as a central hub for French firms aiming to penetrate the Eastern African marketplace. France24, that has become the first international news channel from either Europe…

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South Korea to capitalise on Kenya as a trading gateway to Sub-Saharan Africa

South Korea has ratified to capitalise on Kenya as its trading gateway to Sub-Saharan Africa (SSA),and pledged to work closely with the government to implement its Big Four Agenda. This was revealed when the Kenyan president, Uhuru Kenyatta and the Prime Minister of the Republic of South Korea, Lee Nak-Yeon held talks to enhance Korea's…

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AMREF University (AMIU) partners with the University of British Columbia (UBA) to enhance learning

AMREF International University (AMIU) has signed a partnership with the University of British Columbia (UBC) to allow UBC teaching staff to lecture at AMIU, support development of trainings and study materials. UBC students will have access to a variety of AMREF Health Africa programmes currently running in the region for practicums and research. An exchange…

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French energy giant acquires stake at Kenya’s irrigation start-up Sunculture

The EDF Group, a French electric utility company and a global leader in low-carbon energy is acquiring convertible bonds interest in the Kenyan start-up SunCulture,a technology company that designs and sells affordable solar-powered water pumps and customised irrigation systems, bundled with on-going support for small-holder farmers. SunCulture's flagship product "RainMaker" – an innovative Internet-connected solar…

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Africa FinTech Growth sprout has already reached US$100M in 2018

Close to US$100m of fundraising has been already injected in 2018 into Africa's bourgeoning FinTech and mobile payments sector - with a significant amount of capital still to be deployed this year,and prospects for the sector looking bullish, according to telecom, media and tech news and events company, TMT Finance. East Africa has been a…

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Kenya’s Konza Technopolis braces for 94M Korean funded Science University

Plans to set up Kenya's Korea funded science & technology centre at the Konza Techno City Development Authority (KoTDA) are in an advanced stage - with the facility expected to commence construction in September. Konza Chief Executive Officer Eng. John Tanui has said plans are at an advance stage to set up the Kenya Advanced…

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Telkom Kenya to deploy Google’s 4G/LTE Internet Balloons in Kenya

Kenya's third mobile phone subscriber in terms of market share, Telkom Kenya and Google affiliate Loon, a subsidiary of Alphabet - have announced the signing of a definitive agreement to pilot an innovative new 4G/LTE (Long Term Evolution) access network service in Kenya. The pilot will take place within the general area of central Kenya,…

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Alliance Concrete Limited invests Ksh600 million in Kenya, avails Ready Mix Concrete (RMC)

 A group of local and international investors are set to fire up Kenya's building and construction sector following the setting up of a new ready mix concrete plant. The investors, who have also sealed an exclusive supply partnership with Savannah Cement are set to launch to market the new Alliance Concrete Limited - to provide…

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South Korea to build a $109 million bridge in Tanzania

The business environment in Tanzania is continuously improving, with businesses being projected to experience rapid growth.The heightened development of infrastructure projects within the country is a major development, not only due to its economic impact - but its associated impact in transforming the ease of doing business in the country. Infrastructure continues to be priority…

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Mauritian firm signs Sh4bn finance deal for Geothermal Plant

Construction of Mauritian firm Quantum Power East Africa's 35-megawatts Menengai geothermal power plant has received a major boost after the signing of a financing deal with African Development Bank. The lender will provide Sh4.03 billion ($40m) to Quantum Power, one of the three Independent Power Providers contracted by the Geothermal Development Company to build the…

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Kenyan Agritech Start-up Apollo Agriculture receives USD 500K from Dutch FMO and Rabobank Foundation

Apollo Agriculture, a Kenyan start-up that is in the business of making high-quality farming inputs available to small Kenyan farmers on credit, as well as enhancing their operations by providing them with crop insurance and voice-based training- has received a financial boost through the concerted efforts of Dutch FMO and Rabobank Foundation. This latest investment…

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Japanese Leapfrog Ventures launches USD 4.5 Mill. Fund for Sub-Saharan Africa

One of the highlights in 2018, in terms of business funding - remains to be the significant funding being received from Europe and North America. For instance, a USD 70 Mill. fund launch of Partech Ventures has recently been ratified, together with a USD 76 Mill. funding commitment recently made by the French President. Hence, these…

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Seedstars and Omidyar Partner to launch a Start-up Incubator in Tanzania

Swiss-based company, Seedstars, in partnership with investment firm, Omidyar Network, is looking to further extend its reach in its drive to support the growth of promising enterprises in emerging economies.Dar es Salaam, Tanzanian's capital, looks set to become the company's fifth hub in the African continent - having been placed as the preferred location of…

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World Bank to Boost Kenya’s SMEs with USD 500 Mill. IDA Credit

In what appears to be a significant gain for Kenya's promising small and medium-sized enterprises (SMEs), the World Bank has given consent to a credit injection of USD 50 million to boost innovation and productivity amongst the country's growing enterprises.This new injection of capital by the financial organisation into Kenyan SMEs is taking the form…

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Micro-Lending App Branch Raises USD 3.4 Mill. Debt to further expand its services in Kenya

In a bid to further extend its reach to a wider demographic within the East African nation of Kenya, financial services firm, Branch International, has garnered a funding sum believed to be in the region of USD 3.4 Mill. - to boost its expansion plans. The financial services firm, which has a presence in African…

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MARKUP sets out to support East African SMEs

Agribusinesses in the East African Community (EAC) are to benefit from more substantial business opportunities in both East African and European markets - in light of a new initiative funded by the European Union. The proposed Market Access Upgrade Program (MARKUP) was recently unveiled in Arusha, Tanzania, and it assists small and medium-enterprises (SMEs) across…

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14M USD Bamboo Biomass to power Bidco Africa plants

Multi-award-winning Africa Plantation Capital signed an MOU to supply bamboo biomass to Bidco Africa group for a green and sustainable energy source. Bidco Africa Group needs over 60,000 tons of dry bamboo biomass annually to support its power plant facility in Thika, Kenya. Africa Plantation Capital has been working on a business plan that includes…

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Google takes African Start-ups under its wings

Silicon Valley giant Google is expanding its regional mentorship programme for top early-stage technology startups in Africa, with the aim of helping them become commercially viable. The Launchpad Accelerator Africa programme started off with six countries at its launch eight months ago - Kenya, Uganda, Tanzania, Ghana, Nigeria and South Africa. Beneficiary firms received $10,000…

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American $1.2m loan to finance Kenyan Solar Energy start-up

American clean energy financier SunFunder has agreed to finance a $1.2 million loan facility for Questworks, a Kenyan firm focused on delivering a strong pipeline of commercial and industrial (C&I) solar projects. Questworks is among Nairobi's foremost commercial and industrial renewable energy companies, and has built a significant track record over the past five years…

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Equity Bank, Orb Energy partner to provide builders Solar Water Heating Loans and Systems

November 22, 2017,was the deadline for households and institutions that consume more than 100 litres of hot water per day to install solar water heating systems. This is in accordance with the Energy (Solar Water Heating) Regulations 2012. To implement this endeavour, Equity Bank and solar energy company, Orb Energy, partnered to offer tailor-made loans…

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US tech giant Cisco to open innovation hub in Nairobi

US-based tech giant Cisco Systems is set to open an innovation hub in Nairobi in September - seeking to tap tech enthusiasts. Cisco is investing Sh50 million ($500,000) in setting up the lab with a capacity of about 50 developers per cohort. It plans to host different groups every year, with the length of incubation…

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Kenyan tech start-ups scoop half of Africa’s funding in six months

Five Kenyan start-ups are among the top 10 companies that secured the highest amount of capital in the first half of 2018 - according to a report by research and publishing firm, Weetracker. Kenya's Cellulant, which closed a record $47.5 million (Sh4.8b) investment, led other Kenya-based start-ups including mobile lender app Branch, M-Kopa Solar and…

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Kenya ranked third most innovative country in Africa

Kenya has been ranked the third most innovative country in Sub Saharan Africa according to the Global Innovative Index (GII) 2018. Kenya follows South Africa and Mauritius who are ranked first and second respectively. According to the index, Kenya’s strengths include access to credit especially microfinance loans, innovation linkages and exports of creative services, workforce efficiency, printing…

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Private equity bets in Africa over the past decade have paid off

Political uncertainty, weak currencies and the slowdown in growth of Africa's largest economies did not hurt the pace of private equity exits in 2017, new data show. Last year, 49 private equity exits were recorded across the continent by the African Private Equity and Venture Capital Association (AVCA), only one less than 2016, and the…

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Mobile Money is the Key to Growing Africa’s Banking Sector

Africa is a global leader in mobile money, with telecom operators embracing innovative practices that allow customers to not only pay bills but also access services including loans, insurance, and savings. Yet increasingly, FinTech start-ups with access to greater funding and banks are trying to permeate the mobile financial services (MFS) sector and pull some of…

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Kenya and Tanzania well placed to weather shocks

Kenya and Tanzania are likely to be the most resilient against economic shocks because of their diversification and economic size, a new report by rating agency Moody's says. The agency noted both countries' gross domestic product per capita either exceeded or was close to $3000 (Sh300,000) in 2016 on purchasing power parity (PPP) basis -…

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Finland’s Taaleri increases funding in Cytonn Investments to US$49.6M

Cytonn Investments has secured an additional US$20.8 million (Ksh2.1 billion) in funding from their institutional partners, Taaleri of Finland - for their projects in Kenya. This brings the total investment at Cytonn by the Finnish firm to US$49.6 million (Ksh5.0 billion). Cytonn is a leading alternative investment management firm in the East African Region with…

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Farmers in EAC to benefit from €35 million EU Fund

Agribusinesses in East African Community (EAC) countries are set to benefit from greater business opportunities in both East African and European markets - thanks to a new initiative funded by the European Union. Unveiled last week in Arusha, Tanzania, the programme dubbed Market Access Upgrade Programme (MARKUP) - is set to provide support to small…

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Azuri to use Sh400m debt to connect 150,000 Kenyan homes to pay-go solar

General Manager East Africa Snehar Shah, says the firm is ready to expand its reach with a Sh2 billion commercial debt financing it received early this year. Of the Sh2 billion, about Sh400 million will be deployed in Kenya. "The PayGo sector is growing rapidly and its continued expansion requires access to substantial levels of…

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What Investors think of Rwanda

A recently released investor perception survey shows that Rwanda is a preferred investment destination due to its political stability and security. Investors also pointed out the country's present market opportunity and economic trajectory - as incentives that influenced their decisions to set up in Rwanda. The survey was jointly undertaken by the Rwanda Development Board…

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US firms ink Sh10bn deals with Kenyan Companies

Kenya has signed multi-billion shilling partnership agreements with the US government and companies – the majority of them targeting President Uhuru Kenyatta's growth pillars commonly known as the 'Big Four'. About 12 deals worth more than $100 million (Sh10 billion) were signed on the second day of the three-day official visit by 60 US business…

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Sustainable Kenyan Ventures catch the eye of Impact Investors

Companies building businesses through supporting employee wellbeing initiatives as well as maintaining a zero-tolerance on pollution are the most sought-after by foreign companies seeking local trade linkages. Sustainable Inclusive Business Kenya (SIBKenya) co-ordinator Karin Boomsma said Kenyan firms need to take deliberate measures to improve their manufacturing processes as well as boost employee and community…

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Kenya to witness more Investments, strong Growth – in next 12 months

Global publishing, research and consultancy firm Oxford Business Group (OBG) through a survey of over 100 C-Suite executives from across Kenya's industries has noted bullishness on the country's economic prospects for the coming year - in the inaugural Business Barometer Survey Report. Under the banner 'Facts and Numbers', OBG has released the first edition of…

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East Africa: An Investors Dream Location

Ethiopia, Tanzania, Kenya and Uganda offer investors a reward score above the African continent's average, according to the 2018 Africa Risk-Reward Index - from Control Risks and Oxford Economics. Ethiopia and Tanzania lead the list of the top rewarding economies for the second time, with Kenya following in fourth position after Côte d’Ivoire. Strong improvements on both…

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Microsoft-Techno Brain reshapes farming in Africa with digital platform

Techno Brain has partnered with Microsoft Corporation to launch a Digital Agriculture Platform in Africa to help farmers improve crop yields and increase income. Smallholder farmers are the most vulnerable to impacts of climate change, with rain-fed agriculture accounting for more than 90 per cent of farmed land in Sub-Saharan Africa. These farmers face many…

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Kenya, Tanzania & Uganda experiencing significant Economic Growth

Kenya, Tanzania, Ethiopia and Uganda are experiencing a period of significant economic growth – their Gross Domestic Products (GDP) are forecasted to grow by between 5.2% and 8.5% in 2018, a research output has shown. According to East Africa's economic prospects - as forecasted by Ecobank's research team in the newly published East Africa section of…

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Australia’s Windlab to build first-ever Wind Farm in Tanzania

Australia's global renewable energy development company Windlab Limited will build the first ever wind farm in Tanzania - after it received an Environmental and Social Impact Assessment (ESIA) Certificate for its East African project through its branch, Windlab Developments Tanzania Ltd. The long awaited project will spur the country's economic growth with its addition in the energy…

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Turkish investors hail ease of doing business in Tanzania

Speaking on behalf of his fellow countrymen and investors, Turkish ambassador to Tanzania Mr Ali Davutoglu has praised Tanzania for offering a conducive business environment for local businesses and foreign direct investments. The ease of carrying out business projects in the East African nation has seen the economy grow and continue to attract more investors.…

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Singapore ventures into East Africa with regional office in Nairobi

Singapore is eyeing investments and business deals in Kenya and East Africa as it moves to cement its presence in the region with an overseas centre in Nairobi. Enterprise Singapore (ESG), the Singapore government agency promoting the growth of Singapore's overseas investments and trade opened its Nairobi Overseas Centre on Wednesday. The Centre was opened…

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