The Capital Markets Authority (CMA) has fined former Chase Bank Chairman Zafrullah Khan KShs 5 million and barred him from holding any directorial or senior role in the capital markets for 10 years. The enforcement action follows Khan’s central role in the fraudulent issuance and listing of a KShs 4.8 billion Medium-Term Note (MTN) in 2015, just a year before Chase Bank Limited (CBKL) collapsed and was placed under receivership. CMA: Oversight Failure and Conflict of Interest According to CMA, Khan failed to exercise effective oversight as Board Chair, leading to the publication of false and misleading financial statements in…
Author: Korir Issa
Korir Issa
IK, a Masinde Muliro University grad, tackles social justice through journalism. He analyses news and writes on women's rights, politics, technology, law, and global affairs.
Africa’s private capital ecosystem is undergoing a structural shift. After two years of volatility, the market is stabilising, but with a new financing hierarchy. According to the African Private Equity and Venture Capital Association (AVCA), venture debt has overtaken equity investment for the first time, becoming the continent’s dominant source of startup capital in the first nine months of 2025. “Africa’s venture ecosystem is operating in its ‘new normal,’ having absorbed its correction and adapted to a more sustainable baseline,” AVCA noted. Equity vs Debt Financing Metric Q1–Q3 2025 YoY Change Equity Deal Volume 362 +17% (Q3 only) Equity Deal…
Airtel Africa Telesonic, the wholesale fiber arm of Airtel Africa, has partnered with Nokia to deploy a high-capacity terrestrial fiber network across East and Central Africa, announced at the Africa Tech Festival 2025 in Cape Town. The network will serve as a terrestrial bridge for the 2Africa subsea cable, delivering fast, reliable, and affordable connectivity to landlocked countries. Uganda is expected to benefit significantly, gaining a primary high-speed route to the global internet. Launched in early 2024, Telesonic manages Airtel Africa’s 75,000 km fiber footprint across 14 markets. This project connects existing infrastructure to new submarine systems, positioning Telesonic as…
A new Safety Index report by Ipsos, commissioned by Bolt and released on November 10, reveals a shift in how Kenyans perceive urban mobility. An overwhelming 94% of ride-hailing users now consider app-based services safer than traditional transport modes such as matatus and taxis, an endorsement of the role technology plays in enhancing commuter safety. The study surveyed 250 active ride-hailing users across Nairobi, Mombasa, Kisumu, and Nakuru, capturing views on driver trust, in-app safety tools, vehicle conditions, and high-risk scenarios like late-night travel and post-event movement. The findings highlight a growing reliance on digital mobility platforms and the trust…
Axian Telecom, through its Mauritius-based subsidiary Yas, acquires a 99.63% stake in Wananchi Group (Holdings) Ltd, the parent company of Zuku and Simbanet. Strategic Expansion into Fixed Broadband The acquisition marks Axian Telecom’s formal entry into Kenya’s fixed-connectivity market, positioning the pan-African telecom and fintech powerhouse to scale digital services across East Africa’s most advanced digital economy. “This transaction allows us to hit two birds with one stone entering the fixed broadband business and expanding into Kenya,” said Hassan Jaber, CEO of Axian Telecom. Yas, now the controlling shareholder, will integrate Wananchi into a newly formed unit, Axian Telecom Fibre,…
Nairobi’s circular economy movement reached a new milestone with the CEIC Connect Forum, an ecosystem-wide gathering of entrepreneurs, investors, corporates, and policymakers committed to reimagining how resources flow through the city’s economy. The event spotlighted ventures turning waste into value, embedding social inclusion into business models, and proving that environmental sustainability and commercial viability can thrive together. Launching the Circular Venture Blueprint: ESO Principles At the heart of the forum was the launch of the Circular Venture Blueprint: ESO Principles, a practical guide co-created by 14 organisations across Bengaluru and Nairobi. Funded by the IKEA Foundation, the Blueprint offers hands-on…