Kenya Power is seeking shareholder approval to limit the tenure of directors appointed by its principal shareholder, the government. A special resolution for the upcoming Annual General Meeting (AGM) proposes a six-year term limit for these directors to promote boardroom accountability. The proposed changes to the company’s Articles of Association outline a framework for government-appointed directors. The government, as the holder of Class B shares, will retain the right to appoint five directors: the Cabinet Secretary for the National Treasury, the Principal Secretary for Energy, and three additional directors. The three appointed directors will serve an initial three-year term, with…
Author: Antony Mutunga
Antony Mutunga
Antony Mutunga holds a Bachelors degree in Commerce, Finance from Jomo Kenyatta University of Agriculture and Technology. He previously worked for Altic Investment & Consultancy before he joined NBM team in 2015. His interest in writing ranges from business, economics and technology. He is also our lead researcher in matters business.
The Kenya Revenue Authority (KRA) has announced a new validation process that will involve cross-referencing the income and expenses declared in individual and business income tax returns with several key electronic data sources. These sources include TIMS and eTIMS invoices, records of withheld income tax, and import data from customs systems. The new validation will take effect from January 1, 2026, and will apply as soon as taxpayers submit their returns for the 2025 year of income or accounting period through the iTax platform. The change requires that all declared transactions be supported by a valid electronic tax invoice, which…
Deep within the geothermal heart of the Great Rift Valley, the Menengai Caldera is now powering a transformative energy future, as the final act of a strategic tripartite development is currently underway with construction of a 35-megawatt geothermal plant. The initiative is backed by a proposed investment comprising of a senior loan of up to Sh3.88 billion ($30 million) from the International Finance Corporation (IFC) and further mobilization of up to Sh4.85 billion ($37.5 million). The project is being developed by OrPower22 Ltd, a special-purpose vehicle owned by Kaishan Renewable Energy Development Limited (KRED), a Singapore-registered subsidiary of the Kaishan…
Kenya has broken ground on the world’s first geothermal-powered green fertilizer plant. The project, born from a landmark partnership between the Kenya Electricity Generating Company (KenGen) and China’s Kaishan Group, was launched at Olkaria, Naivasha. It positions the country at the forefront of a movement to harness renewable resources for industrial growth and food security. The initiative is hailed as a cornerstone of Africa’s green industrialization, and it aims to use geothermal steam to power the production of green ammonia and fertilizer. It will see Kaishan’s local subsidiary, Kaishan Terra Green Ammonia Limited, construct and operate a state-of-the-art facility powered…
The Kenya Electricity Generating Company PLC (KenGen) has announced a surge in profit in its financial performance for the fiscal year ending 30th June 2025. The company witnessed its net profit increase from Sh6.80 billion last year to Sh10.48 billion, a substantial 54% increase. KenGen has attributed the impressive upswing to enhanced operational efficiency, stringent cost management, and a greater output from its diverse mix of energy sources. Profit before taxes also saw a significant rise, growing by 42% to reach Sh15.47 billion from Sh10.95 billion the year before. The increase in profit can also be accredited to revenue remaining…
A new global study presented during the ongoing Forest Stewardship Council’s (FSC) General Assembly has revealed a shift in global priorities. According to the 2025 Global Consumer Awareness Survey, which was commissioned by the FSC with Ipsos, a majority of people (52%) surveyed across 50 countries are preoccupied with war and conflicts, pushing the overarching threat of climate change, at 31%, into a distant second place. This was the case even after the world experienced its hottest year on record, suggesting that the growing crises, especially in Africa, are temporarily overshadowing chronic environmental dangers. According to the survey, Kenya and…
Across Africa, an economic transformation is underway that is redefining the very concept of waste and turning ecological challenges into unprecedented opportunities. This tangible vision of the circular transition was on full display at the recently concluded 2025 Annual Meeting of the African Circular Economy Alliance (ACEA), where local entrepreneurs proved that Africa’s green economy is already taking root and growing. From Kenya, where the E-Waste national guidelines and implementation framework provides a structured roadmap for managing electronic waste, to Madagascar, where polyethene sachets are ingeniously recycled into durable thread for handbags, and Burkina Faso, where plastic waste is reborn…
Trade facilitation was the topic of the day as the International Trade and Logistics Summit (ITLS 2025) kicked off in Mombasa, bringing together players from shipping, maritime, and logistics sectors across Africa and beyond. The two-day summit, organized by the Kenya National Chamber of Commerce (KNCC) and the Kenya Freight Forwarders Association (KFFA) in partnership with Kenya Ports Authority (KPA) and Mombasa County Government, set the stage for crucial dialogue under the theme “Innovating logistics, technology, sustainability, and collaboration for a resilient future.” According to Mohammed Daghar, PS State Department for Transport, who presided over the opening of the summit,…
Team Europe, in collaboration with its African partners, has launched a major new regional initiative aimed at advancing healthcare across East and Southern Africa. This ambitious programme, dubbed “Regional Access and Accountability for Increased sexual and reproductive health and rights (SRHR) Equity in East and Southern Africa” (RAISE SRHR), is dedicated to strengthening health systems and dramatically expanding access to essential SRHR. The initiative’s core mission is to improve access to life-saving services and medical commodities while simultaneously fostering stronger regional collaboration and accountability mechanisms. Backed by a substantial investment of approximately Sh2.84 billion (EUR 19 million) from the European…
After many years of progress, Africa still continues to face a number of issues, including persistent development challenges. It is for this reason that a powerful coalition of global financial institutions has announced the creation of Zafiri. This new investment vehicle is designed to channel crucial funding into small-scale, decentralized renewable energy projects across sub-Saharan Africa. The African Development Bank Group, the International Finance Corporation, and partner organizations have appointed the Africa-based firm Inspired Evolution as the investment manager for this ambitious initiative. Zafiri is the central pillar of “Mission 300,” the landmark joint initiative by the World Bank Group…