Kenyan President William Ruto signed a $1 billion agreement with China during a five-day state visit to Beijing, aimed at deepening the strategic partnership between the two nations. The deal, announced Wednesday, targets key sectors under Kenya’s Bottom-Up Economic Transformation Agenda (BETA), including manufacturing, agriculture, and tourism. The agreement allocates $950 million to priority areas: $320 million for manufacturing, $430 million for agriculture, and $230 million for tourism. Notable projects include a $150 million construction deal with China Wu Yi, $400 million for agricultural initiatives in Baringo led by Zonken Group, and a $230 million tourism investment by Hunan Conference…
Author: Muindi
Muindi
Experience working on communication and marketing departments and in the broadcast industry. Interested in sustainable development and international relations issues.
The International Monetary Fund projects sub-Saharan Africa’s GDP growth to slightly decline from “4% in 2024 to 3.8% in 2025,” according to the latest World Economic Outlook. South Africa and Nigeria have been revised downwards, with the IMF anticipating “deteriorating investor sentiment, lower crude oil prices, and an anticipated global slowdown.” Economic growth in sub-Saharan Africa will “slow to 3.8% in 2025 from 4% last year,” with a rebound to “4.2% next year.” Forecasts for global growth have been lowered since January due to “new US tariff rates and a highly unpredictable trading environment.” Senegal, Ethiopia, and Côte d’Ivoire are…
The Central Bank of Kenya (CBK) has proposed a shift from the current risk-based pricing model (RBCPM) to a lending rate model anchored on the Central Bank Rate (CBR). This proposal is detailed in a CBK consultative paper seeking public input on the RBCPM review. The initiative responds to concerns that some banks have inconsistently applied the RBCPM since its 2019 introduction. “There are lingering concerns regarding the availability, quality, and fairness of the credit scoring data underpinning the model, as well as consistency of RBCPM application across commercial banks. These issues have significant implications for maintaining the integrity of…
For a continent long recognised for its youthful population, demographic trends are now translating into significant market influence. New projections from the World Data Lab’s “Gen Z and the Future of the African Consumer” indicate that Africa’s Generation Z (individuals born between 1997 and 2012) is poised to command US$801 billion in consumer spending by 2025, establishing them as the largest spending cohort across the continent. This figure is projected to exceed US$1 trillion by 2032, a milestone signifying more than just economic expansion. It points to a broader global shift in consumption patterns, moving away from the traditional “Global West”…
Human Mobile Devices (HMD), the makers of Nokia phones and Europe’s largest smartphone manufacturer, has launched its latest range of devices in Kenya. As FC Barcelona’s official smartphone partner, HMD brings its hallmark values of performance, reliability, and passion to the Kenyan market with two standout products: the HMD Arc and HMD 130 Music, also known as Frodo. Designed specifically for Kenyan consumers, the devices emphasise affordability, durability, and practicality for everyday use. HMD Arc: A Stylish, Repairable Smartphone That Lasts With its easy-to-repair design and long-lasting 5000mAh battery, the HMD Arc is ideal for Kenyans looking for a reliable…
Sanlam Kenya PLC’s Board of Directors has formally initiated its rights issue, following the successful acquisition of all necessary regulatory approvals from shareholders, the Capital Markets Authority (CMA), the Nairobi Securities Exchange (NSE), and the Insurance Regulatory Authority (IRA). This capital raising is strategically designed to substantially reduce the company’s existing long-term debt obligations and provide management with enhanced operational and financial flexibility to underpin future growth initiatives and a return to sustained profitability. This action aligns with Sanlam Kenya’s overarching objective of lowering the group’s debt to a manageable and sustainable level, thereby strengthening its financial position. The Sanlam…