Nation Media Group (NMG) has released a cautionary statement following notice of a proposed transaction that could reshape its ownership structure. The announcement comes ahead of a planned takeover by Tanzanian businessman Rostam Aziz. Details of the Transaction In a notice dated March 11, 2026, NMG confirmed it received an intention letter on March 10 from Taarifa Ltd, a private investment firm. The letter outlined plans to acquire 100 percent of NPRT Holdings Africa Limited. NPRT, incorporated in Kenya, is a wholly owned subsidiary of the Aga Khan Fund for Economic Development S.A. (AKFED). It currently holds 92,618,177 shares, representing…
Author: Muindi
Muindi
Experience working on communication and marketing departments and in the broadcast industry. Interested in sustainable development and international relations issues.
The National Bank of Rwanda and the Central Bank of Kenya have signed a Memorandum of Understanding (MoU) to establish a Licence Passporting Framework for Payment Service Providers (PSPs). Today at #IFF2026, the National Bank of #Rwanda and the Central Bank of #Kenya (@CBKKenya) signed a Memorandum of Understanding (MoU) to launch a License Passporting Framework, enabling licensed Payment Service Providers to operate seamlessly across both markets. A major step… pic.twitter.com/XcFtyQ0xyQ — Central Bank of Rwanda (@CentralBankRw) March 11, 2026 This framework will allow licensed PSPs to operate seamlessly across both countries through mutual recognition of licenses. By cutting duplicative…
Kenya’s National Assembly has approved the 2026/27 Budget Policy Statement (BPS), laying the foundation for the national budget and defining government spending priorities for the year ahead. The framework, valued at Sh4.7 trillion, provides the fiscal blueprint for national, county, and sectoral allocations. The approval followed deliberations by the Budget and Appropriations Committee, which recommended ceilings aligned with fiscal responsibility principles. Key Budget Allocations Category Allocation (KES) Notes National Government Ceiling 2,878,426,500,000 Majority allocated to Executive (Sh2.7 trillion) Auditor General 9,030,000,000 Oversight and accountability Parliament 50,780,000,000 Legislative functions Judiciary 30,440,000,000 Judicial services County Equitable Share 420,000,000,000 Core county funding Equalisation…
Kenya Pipeline Company (KPC) officially joined the Nairobi Securities Exchange (NSE) on March 10, 2026, marking the country’s first major IPO in nearly two decades. At 09:57 a.m. on listing day, KPC shares traded at KES 9.10, up 1.11% from the IPO price of KES 9.00. By close of trading, the stock settled at KES 9.18, giving the company a market capitalization of KES 167 billion, about 4.84% of the NSE’s total equity market value. Government Raises KES 106 Billion Through IPO The Kenyan government sold a 65% stake in KPC, raising KES 106.3 billion ($823 million). President William Ruto…
President William Ruto has signed the National Infrastructure Fund (NIF) Act into law, opening the door to Ksh.5 trillion in infrastructure spending on roads, railways, ports, airports, irrigation, and energy over the next decade. The legislation, sponsored by National Assembly Majority Leader Kimani Ichung’wah, moves Kenya away from debt-dependent, budget-cycle financing toward a consolidated fund structured to pull in private capital alongside public money. JKIA Gets First Call on the Money The Jomo Kenyatta International Airport expansion lands first in the queue. Between Ksh.15 billion and Ksh.20 billion — up to $155 million — will come from proceeds of the…
The ALP Industrial Real Estate Investment Trust (ALP I‑REIT) closed its restricted offer on 5 March 2026, raising USD 29.6 million against a target of USD 30 million. This represents a 98.5% subscription rate, comfortably above the minimum success threshold of USD 11 million. Investor demand was further strengthened by InfraCo Africa’s USD 5 million commitment to a pipeline asset, pushing the effective oversubscription level to 115.2%. In addition, Africa Logistics Properties Holdings (ALPH) received 10.4 million units in exchange for transferring three logistics properties into the REIT. In total, 40 million units are expected to list on the Nairobi…