Author: Muindi

Aliko Dangote is structuring a dedicated investment vehicle in Kenya that will give investors direct access to the Dangote Group before the planned pan-African initial public offering of his petroleum refinery. All returns will be paid in US dollars. The World Bank Group has committed to supporting what Dangote describes as the continent’s largest industrial ownership programme. Dangote disclosed the Kenya structure during a conversation with IFC President Makhtar Diop, identifying the country as a specific investor entry point separate from the secondary NSE listing first reported by Bloomberg in April. The vehicle forms part of a broader ownership restructuring…

Airtel Africa closed its financial year ended March 31, 2026 with profit after tax tripling to $813 million from $328 million a year earlier, as revenue climbed 29.5% to $6.415 billion. The results reflect the strongest customer additions in the company’s history and a mobile money business that is rapidly outgrowing its original remit. Revenue Growth Runs Across Every Region Group revenue grew 24% in constant currency, with reported currency growth running ahead of that figure as currencies appreciated across most markets. Nigeria led the charge, posting constant currency revenue growth of 47.5% following tariff adjustments introduced in the fourth…

Kenya has shelved its flagship $1 billion data centre project backed by Microsoft and Abu Dhabi-based G42, after the country’s electricity system proved unable to support the facility at its intended scale. The decision closes out one of East Africa’s most closely watched technology investments and exposes a gap that sits beneath almost every major AI infrastructure announcement on the continent. A Deal That Began at the White House President William Ruto announced the project during a state visit to Washington in May 2024, witnessed under the Biden administration as a signal of deepening technology ties between the United States…

Stanbic Bank Kenya delivered a solid first quarter in 2026, growing profit after tax by 5.5% to KES 3.52 billion, up from KES 3.33 billion in the same period last year. The results, released on 6 May 2026, reflect disciplined cost management and a rapidly expanding balance sheet. Lending Business Drives Revenue Net interest income climbed 11.7% to KES 7.57 billion, powered by a 4.7% rise in total interest income and a 6.4% reduction in interest expenses. That combination widened the bank’s lending margins considerably and anchored overall revenue growth. Loans and advances grew 5.8% to KES 258.2 billion, driven…

Nike has opened its first flagship store in Nairobi, setting up at Sarit Centre in a move that signals the brand’s deepening commitment to Kenya and the wider East African market. The store brings together performance gear, sport culture and lifestyle under one roof, built around what Nike describes as an immersive retail experience designed to connect athletes and consumers with the future of sport. Kipchoge marks the moment Marathon legend Eliud Kipchoge attended the opening, joining a panel conversation with local athletes and members of Nairobi’s running community. His presence carried weight beyond ceremony. Kipchoge has spent years building…

Absa Bank Kenya has overhauled its asset financing offering, setting its sights on deploying KES 100 billion to businesses and individuals over the next three years. The bank says the move responds directly to what customers have described as the biggest barrier to growth: slow, bureaucratic lending. Faster Approvals, Fewer Steps The most immediate change is speed. Onboarding to approval now takes 48 hours, down from 10 days. Approval to disbursement follows within 72 hours. The bank also trimmed the number of pre-approval steps from 13 to six, removing the procedural drag that has long frustrated borrowers. These are not…