Author: Antony Mutunga

The World Bank has sharply reduced its financial support package for the Affordable Housing Finance Project, slashing it from Sh174.19 billion ($1.35 billion) to a total of Sh117.46 billion ($910.32 million) in just a couple of months. The major changes were made to the project’s commercial and development finance components. Total financing from the International Bank for Reconstruction and Development (IBRD) was reduced from Sh35.48 billion ($275 million) to Sh16.13 billion ($125 million) while commercial financing was reduced from Sh116.13 billion ($900 million) to Sh46.45 billion ($360 million). On other other hand, total financing from International Development Association (IDA) was…

Most Africans who work online continue to face one major challenge: getting paid efficiently and affordably. While the work they perform is mostly instantaneous, payment has often lagged by days, been eroded by fees, and complicated by bureaucratic red tape. A new partnership between Noah and Payd aims to tackle these barriers. Noah, a UK-based global payment infrastructure firm, and Payd, a Kenyan fintech company, are addressing the limitations of traditional banking channels. For example, when a freelancer in Nairobi invoices a client in New York or Berlin, the funds travel via the SWIFT network—a decades-old system not designed for…

Stanbic Holdings Plc has announced the appointment of Dr Joshua Oigara as its new Chief Executive Officer and Director, effective 1 March 2026. He will take over the role from Patrick Mweheire, who retires from the position on 28 February after a six-year tenure characterized by strategic execution, consistent growth, and the strengthening of Stanbic Kenya’s standing as a formidable franchise within the Standard Bank Group. After stepping down, Mweheire will remain within the group in a senior executive capacity, ensuring continuity and the retention of his deep institutional knowledge. Dr. Oigara’s appointment comes at a pivotal moment for Stanbic…

The gates to capital markets in Kenya have opened wider as the Capital Markets Authority announced the licensing of several new financial intermediaries. This move aims to increase the number of players in the market and reshape who can participate and how. Access to sophisticated investment tools has often been limited to institutional giants and the wealthy, but these approvals signal a push toward democratization, technological innovation, and a more inclusive financial system. Among the newly licensed entities, Rock Advisors Limited stands out. Previously focused on investment advisory work, the firm has now secured an investment banking license, allowing it…

The Central Bank of Kenya (CBK) has reduced its benchmark lending rate following the latest Monetary Policy Committee (MPC) meeting, lowering the Central Bank Rate (CBR) by 25 basis points to 8.75% from 9.00%. The move is aimed at stimulating private sector credit and supporting economic activity amid resilient domestic growth, easing inflationary pressures and a cautiously improving global economy, despite lingering uncertainties. Globally, the MPC observed that growth remains steady at an estimated 3.3% for 2025, with a similar outlook for 2026. The resilience is largely driven by strong performance in the United States, the euro area and China,…

Eleving Group, an international fintech company that is the parent organization of Mogo Kenya, has entered into a partnership with Chaseit, a Lithuanian tech start-up, to deploy artificial intelligence voice agents across its call centers. This move follows a successful pilot program where AI agents conducted English-language calls, yielding remarkable results. According to Modestas Sudnius, CEO of Eleving Group, these AI agents are capable of handling over 20,000 calls daily, a volume that would traditionally require around 100 human operators. He noted that with call centers already managing immense volumes of daily information, the company is beginning to roll out…

The horticulture export sector has recorded robust growth in the first quarter of the 2025/2026 financial year. According to data from the Agriculture and Food Authority (AFA), between July and September 2025, the sector saw a 3.5% rise in export volume and a 6.2% surge in export value compared to the same period last year. This translated into total revenues of Sh34.41 billion, an increase from Sh32.38 billion the previous year, highlighting a strengthened capacity for generating foreign exchange. Kenya exported 108,584 metric tonnes, up from 104,951 metric tonnes, while the financial value grew by Sh2.02 billion. The notable divergence…

The government has officially launched preparatory work for the major upgrade of the vital Mau Summit–Eldoret–Malaba road corridor. Spearheaded by the Public Private Partnerships (PPP) Directorate of the National Treasury, in collaboration with the Kenya National Highways Authority (KeNHA) and with support from the Asian Infrastructure Investment Bank (AIIB), the project marks a decisive step towards modernizing a key segment of the northern corridor. The journey began with a kick-off meeting between a joint venture of consultants from CPCS, an international infrastructure development firm based in Canada, and Avatech Consult, a Kenyan-based consulting engineering firm, who are going to conduct…

In the world of finance, the prosperity of a region depends heavily on a strong financial center. This is the hub where capital converges, ideas intersect, and international business plans come together to drive growth. Since the year started, Kenya has continued to prove it is the financial hub of Africa. After Standard Bank Group CEO, Simpiwe Tshabalala visited the country last month, this week Absa Group’s Chief Executive Officer (CEO), Kenny Fihla, arrived in Nairobi for a series of strategic meetings with the public and private sector leaders. Fihla is accompanied by Charles Russon, Group Executive: Africa Regions, and…

The Kenya Revenue Authority (KRA) is proposing to make a major change to how it tracks cargo. It aims to make the process more efficient, secure, and responsive to the needs of modern trade. In recognition of changing business dynamics, technological progress, and growing demand, the authority is moving towards a multi-vendor, user-owned seals model. This means that in the near future, businesses involved in moving both dry cargo and wet cargo will have the opportunity to own their own compliant electronic seals, sourcing them from a range of approved vendors. The goal is to create a more flexible and…