Equity Group Holdings PLC has reaffirmed its commitment to transforming Africa through sustainability-driven financial practices, according to its 2024 sustainability report themed, “Transforming Africa for True Sustainability.” “True sustainability must be owned by all—by communities, enterprises, nations, and Africa itself—for prosperity to be realized,” said Dr. James Mwangi, Equity Group Managing Director. “The world cannot achieve true sustainability without Africa being transformed economically, socially, environmentally, and institutionally.” The Group has redefined the future of banking in Africa through its innovative Tri-Engine Business Model, comprising commercial, social, and sustainability engines, designed to integrate commercial success with social impact and environmental responsibility.…
Author: NBM CORRESPONDENT
Tatu City, one of Kenya’s flagship Special Economic Zones (SEZ) is set to undergo a major transformative expansion, fueled by a massive Sh65 billion investment from renowned businessman, Abdiweli Hassan, the founder and chairman of the largest mall in East and Central Africa, Nairobi’s Business Bay Square (BBS) Mall. Tatu City has been identified as the next site for Mr Hassan’s next ambitious venture, which will comprise a 60-acre, mixed-use development that promises to redefine urban living. The landmark partnership signed by Mr Hassan and Mr Stephen Jennings, the founder and CEO of Rendeavour, the developer of Tatu City, will…
Pension fund managers are projecting strong double-digit returns in 2025, driven by gains in equities and fixed income markets. The outlook was shared at the Enwealth Umbrella Fund Annual General Meeting for FY 2024, where ICEA Lion Asset Management and Kenindia Assurance Company expressed optimism that pension savers can expect continued growth in their retirement savings following a strong performance last year. Commenting on the outlook for 2025, George Kamau, Portfolio Manager at ICEA Lion Asset Management, said: “Kenya’s economy has shown remarkable resilience. We expect GDP to expand by about 5.3% in 2025. In summary, 2025 has so far…
By Thuku Kariuki The African Development Bank placed women at the center of climate action during the Second Africa Climate Summit, convening high-level discussions on how to scale gender-responsive solutions in finance, policy, and data. The event, “Scaling Up Gender-Responsive Climate and Energy Solutions: From Finance to Policy and Data,” was hosted at the Bank’s Pavilion in Addis Ababa’s International Convention Center. It highlighted innovative partnerships channeling resources to women-led businesses tackling the climate crisis. A key announcement came from KawiSafi Ventures, an African Development Bank investment partner, which pledged that 35% of its $90 million Fund II will target…
CorrectSequence Therapeutics, a Shanghai-based biotech company incubated at ShanghaiTech University that has pioneered transformer base editing technology for severe diseases, said on Tuesday it has successfully treated the first sickle cell disease patient using its high-precision base-editing therapy CS-101. The breakthrough came in an investigator-initiated trial with the First Affiliated Hospital of Guangxi Medical University. The patient, a 21-year-old woman from Nigeria, saw her disease-related indicators return to normal and remain stable over a six-month follow-up period, the company said. Her fetal hemoglobin levels rose significantly and were sustained, while sickle hemoglobin dropped. She experienced no vaso-occlusive crises — when…
The Matatu Owners Association (MOA) has intensified its campaign for a nationwide shift to electric vehicles (EVs) in the public transport sector. Officials of the association have urged Matatu Saccos to embrace clean mobility as they called the National Transport and Safety Authority (NTSA) to provide guidelines on use of the EVs in the public service transport. Speaking during a stakeholders’ forum in Murang’a, MOA President Albert Karagacha stressed that the transition to e-mobility must be driven by the matatu industry itself, with government agencies playing a supportive rather than controlling role. He emphasized that Saccos are capable of enforcing…
Kenya’s telecommunications sector, once synonymous with Safaricom’s dominance, is undergoing a quiet revolution as Airtel Kenya gains ground with growing confidence. The company’s surge in subscriber numbers and strategic market positioning is rapidly reshaping the competitive landscape. According to new data from the Communications Authority of Kenya (CA), Airtel registered 3.01 million new SIM cards in the first quarter of 2025, outpacing Safaricom, which added 1.7 million over the same period. This growth pushed Airtel’s total active SIM cards to 24.5 million by March 2025, a 13.95 per cent increase from 21.5 million at the end of 2024. In comparison,…
Mount Kenya University (MKU) has begun integrating artificial intelligence (AI) into its academic programmes and administrative systems, as part of a broader shift towards digital transformation. The university’s governing council has approved the adoption of a unified University Resource Platform (UNiRP), replacing its Student Management Information System (SMIS) and Enterprise Resource Planning (ERP). The move is intended to improve teaching, learning, and operational efficiency. As part of the changes, the university plans to redesign and equip its computer laboratories with advanced computing resources to support AI-driven simulations, student projects, and research. MKU has also introduced 13 academic programmes with AI…
Five people have been arrested in Kirinyaga County for alleged involvement in illegal power connections and possession of stolen Kenya Power and Lighting Company (KPLC) equipment. The Mt Kenya KPLC security team carried out the operation where they recovered stolen electricity meters, Customer Interface Units (CIUs), climbing gear, safety belts, and other electrical tools that were used for the unauthorized electrical activities. According to Kirinyaga branch manager Ruto Kipkorir, the culprits were arrested in Kagio Town and surrounding areas before they were taken to Kiamaciri Police Station. The first suspect, John Wareri, a notorious unlicensed electrician, was arrested in Kagio…
The Ministry of Education and the National Treasury have come under sharp scrutiny from Parliament after an audit revealed that more than Sh183 billion allocated to the education sector cannot be fully accounted for. The revelations triggered a storm during a live session before the Senate Education Committee on Wednesday, July 24, where Treasury Cabinet Secretary John Mbadi and Education Principal Secretary Belio Kipsang were grilled over budget implementation failures. The audit covering the 2020/21 and 2021/22 financial years revealed substantial funding gaps intended for public schools. According to the report, at least Sh71 billion allocated for public secondary schools,…