Author: Muindi

United Bank for Africa (UBA) Plc has pledged KES 20.5 billion (USD 150 million) to Kenya’s Roads Levy Securitisation Programme, a $1.35 billion infrastructure initiative led by the Kenya Roads Board. The programme is designed to modernise key transport corridors, fast-track contractor payments, and enhance national connectivity. UBA Group Managing Director and CEO Oliver Alawuba announced the commitment during a high-level visit to President William Ruto at State House, Nairobi, reaffirming the bank’s long-term investment strategy in Kenya. “Infrastructure is the engine of trade, competitiveness and shared prosperity,” said Alawuba. “UBA is proud to be one of the largest financiers…

M Oriental Bank has scheduled an Extraordinary General Meeting (EGM) for 3rd October 2025 to seek shareholder approval for a proposed capital increase. The bank plans to issue up to 50 million new ordinary shares of par value KSh 20 each over five years. The proposed allotment aims to strengthen the bank’s capital base and ensure compliance with the Central Bank of Kenya’s phased minimum core capital requirement of KSh 3 billion, which takes effect at the end of 2025. As of June 2025, M Oriental’s core capital stood at KSh 2.51 billion, leaving a shortfall of KSh 490 million. “This…

Eastland Hotel, a well-known 4-star property located in Nairobi’s Kilimani area, has been placed under receivership by Equity Bank Kenya. The move follows growing financial pressure across Kenya’s real estate and hospitality sectors, which continue to register high levels of non-performing loans. Joint Receivers Appointed In a notice dated September 11, 2025, Equity Bank announced the appointment of Kamal Anantroy Bhatt and Jai Kamal Bhatt of Anant Bhatt LLP as Joint Receivers and Managers of Eastland Hotel Limited. “The Receivers have full authority over the company’s assets and operations. Any dealings without their written consent will be considered unlawful,” the…

Mantrac Kenya, the authorised dealer for Caterpillar equipment, hosted a centennial event in Nairobi to mark 100 years of Caterpillar’s global operations and its presence in Kenya. The gathering included government officials, diplomats, company executives, customers, and media representatives, highlighting Caterpillar’s long-standing role in Kenya’s infrastructure and energy sectors. Remarks from Leadership Tom Mboya moderated the event, which opened with a speech from Mohamed Ibrahim, Managing Director of Mantrac Kenya. “Caterpillar has played a role in Kenya’s development for a century. Mantrac is committed to supporting the next phase of growth.” Nigel Lewis, Chief Operating Officer of Mantrac Group, reflected…

Ethiopia’s Grand Ethiopian Renaissance Dam (GERD), the continent’s largest dam, has begun generating electricity, marking a major milestone in the country’s energy development strategy. Located on the Blue Nile, the dam stretches 1,800 meters wide and stands 175 meters high. It is capable of holding back up to 74 billion cubic meters of water, forming a reservoir that covers an area larger than the city of London. Expanding National Grid Capacity Since early 2022, GERD has been producing renewable hydroelectric power. Once fully operational, the dam is expected to more than double Ethiopia’s current electricity generation capacity. “This project is…

The Safaricom Chapa Dimba All-Stars Team departed Nairobi on Saturday evening, 6th September, for a week-long international training camp in Huesca, Spain. The squad comprises 25 standout players selected from across Kenya, chosen for their exceptional talent and potential to break into professional football. In total, 32 players were named to the All-Star roster. While 25 will travel to Spain, the remaining seven have already secured call-ups to national and international clubs—underscoring the program’s growing reputation as a launchpad for elite football careers. “Chapa Dimba has always been about opening doors of opportunity for Kenyan youth, and today, we are…