Author: Muindi

Diageo Plc, the British multinational alcoholic beverage giant, has initiated a strategic review of its 65% stake in East African Breweries Ltd. (EABL), its largest African brewing asset. First reported by Bloomberg, it is being advised by Bank of America and Goldman Sachs and could lead to a full or partial divestment. Analysts estimate EABL’s beer business could be valued at up to US$2 billion (~KSh 258 billion), notably higher than its current US$1.2 billion (~KSh 155 billion) valuation on the Nairobi Securities Exchange. Founded in 1922 as Kenya Breweries Ltd., EABL remains a regional powerhouse, operating in Kenya, Uganda, and…

Airtel Africa Plc has reported a sharp year-on-year rebound in profitability, with profit after tax rising more than fourfold to $156 million in Q1 FY2026, compared to $31 million in the same period last year. The telco’s latest earnings, filed with the Nigerian Exchange, reflect strong execution across mobile services, data monetisation, and mobile money, buoyed by network investment and tariff optimisation. “The scale and resilience of our performance in Q1 underscores the growing demand for inclusive, high-quality digital services across Africa,” said Sunil Taldar, Airtel Nigeria CEO. “As smartphone adoption and mobile money usage continue to accelerate, we remain…

Safaricom has achieved over 50 million mobile customers in Kenya and 10 million 90-day active customers in Ethiopia. As the company prepares to celebrate its 25th anniversary in October 2025, these figures signal its evolution from a local mobile operator to a regional powerhouse in digital transformation. Building Kenya’s Digital Future Safaricom’s journey from just 17,000 customers in 2000 to over 50 million today showcases its role in shaping modern Kenya. Yearlong campaigns like Sambaza Furaha and M-PESA Sokoni have deepened their engagement while reinforcing their commitment to customer-centric innovation. “We are honoured by the trust that over 50 million…

Property prices in the Nairobi Metropolitan Area posted their fastest growth in 18 months, according to the Hass Property Price Indices Q2 2025, fueled by rising demand for detached homes amid tightening supply and improving market sentiment. Sales prices rose 3.75% in the quarter ending June, up from 2.45% in Q1, marking the strongest performance since Q4 2023. On an annual basis, property prices climbed 7.8%, significantly above the 4.9% growth recorded in the 12 months to March 2025. “Detached house prices grew at their fastest quarterly pace in nine years,” noted Sakina Hassanali, Co-CEO & Creative Director at HassConsult.…

Bolt, a ride-hailing platform in Kenya, introduces its Family Profile feature, enabling users to manage and pay for trips for up to nine others from a single account, simplifying mobility for families and caregivers. The launch is part of Bolt’s broader push to enhance convenience, safety, and inclusivity in Kenya’s growing ride-hailing sector. According to Bolt’s internal data, an estimated 2–6% of rides are currently booked on behalf of another person, often requiring manual coordination and sharing of trip details. Family Profile streamlines this process by allowing users to invite others to join their account, set monthly spending limits, and…

Tullow Oil plc has signed a Sale and Purchase Agreement (SPA) with Auron Energy E&P Limited, an affiliate of Kenya’s Gulf Energy Ltd., marking a strategic exit from its Kenyan operations. The agreement, announced on April 15, 2025, involves the sale of 100% of the shares in Tullow Kenya BV (TKBV), which holds Tullow’s entire working interests in Kenya. The transaction is valued at a minimum of US$120 million, subject to customary adjustments. “This signing marks a pivotal milestone in the ongoing transaction and brings the sale closer to completion,” said Madhan Srinivasan, Managing Director of Tullow Kenya BV. Richard…