Author: Korir Issa

Electric mobility firm, BasiGo has initiated the local assembly of its Ma3e electric vans in Mombasa. This milestone represents the first time electric vans have been manufactured within Kenya. By partnering with Associated Vehicle Assemblers (AVA), BasiGo utilizes Complete Knocked Down (CKD) kits to build the fleet. The company expects to deliver the first 22 locally produced units to customers throughout April and May. Performance Specs and Versatile Applications The Ma3e caters to high-demand operations. It delivers a range of 300 kilometers on a single charge and supports diverse transportation needs. Over the last 10 months, BasiGo deployed two electric…

Aliko Dangote wants $40 billion and five years to build an industrial operation that could reshape how Africa fuels its economies and feeds its people and he wants African capital markets to help pay for it. The Dangote Group has announced it needs at least $40 billion through 2030 to fund an expansion that would more than double the capacity of its Lagos refinery and quadruple urea fertilizer production. The plan, branded Vision 2030, targets $100 billion in annual group revenue by the end of the decade. The African Export-Import Bank, which is backing the programme, confirmed the figures to…

Kenya’s High Court has dismissed a bid to block Diageo’s $2.3 billion sale of East African Breweries Limited to Japan’s Asahi Group Holdings, clearing one of the last legal obstacles to what ranks among the largest corporate transactions in the country’s history. Judge Bahati Mwamuye threw out the application on Thursday, lifting all orders that could have impeded completion of the deal. “The petitioner’s notice of motion dated 5th January 2026 is hereby dismissed,” she ruled. What the Deal Involves Diageo agreed in December 2025 to sell its 65% stake in EABL to Asahi as part of a wider strategy…

CIC Insurance Group posted insurance revenue of Ksh 29.46 billion in the full year ended 31 December 2025, up 11.8% from Ksh 26.35 billion the year before. The growth stopped there. Profit for the year fell 82% to Ksh 513.8 million, down from Ksh 2.855 billion in FY 2024, as investment returns collapsed and underwriting swung into a loss for the first time in recent memory. Underwriting Turned Loss-Making The insurance service result, which measures the core underwriting performance, moved from a profit of Ksh 344 million in FY 2024 to a loss of Ksh 176 million in FY 2025.…

Nairobi will host the Green Climate Fund’s regional office for East and Southern Africa. The GCF Board made the decision at its 44th meeting in Songdo, South Korea, which ran from 25 to 28 March 2026. The selection ends a competitive global process that drew proposals from 43 countries. Seventeen of those came from Africa alone. The Board also approved a second African office in Abidjan, Côte d’Ivoire, to serve Central, North and West Africa, alongside new offices in Panama City for Latin America and the Caribbean, and Amman, Jordan, for Eastern Europe, Central Asia and the Middle East. For…

KCB Bank Kenya has received approval for a $96.9 million (KSh 12.5 billion) financing facility from the Green Climate Fund to expand access to climate-smart technologies for small businesses and smallholder farmers across the country. The facility combines concessional lending, a guarantee, and a grant. It will be deployed under the Climate Smart Technology programme, targeting Kenya’s most climate-vulnerable communities through solar energy, clean cooking technologies, climate-smart agriculture, waste management, and energy efficiency. Sixty percent of the investments will fund adaptation measures, including climate-resilient agriculture and water management. The remaining 40 percent will go toward mitigation technologies such as renewable…