For years, in Africa, gaming was mainly considered as a source of entertainment or tackling boredom. However, in recent years, the industry has seen a shift, with a growing number relying on it as a source of income. Initially dominated by physical casinos and betting shops, the early gaming scene in many African countries was quite different from what we see today. However, as technology progressed, so did the gaming industry. As a result, the industry has been on an increasing trend, with revenues expected to surpass Sh129 billion ($1 billion) by the end of the year. The video game…
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.
Metal Cans & Closures Kenya Limited, a Kenyan based private limited liability company, has been given the green light by the Competition Authority of Kenya (CAK) to merge with Nampak Kenya Limited, a manufacturer of metal packaging materials. The authority gave its unconditional approval for the proposed acquisition following a thorough analysis determined that the transaction is unlikely to negatively impact competition in the market for metal packaging materials or raise any public interest concerns. The proposed transaction met the threshold for mandatory notification and full analysis, as a merger under the Competition Act Cap 501 of the Laws of…
The African Union (AU) is set to officially launch the Africa Credit Rating Agency (AfCRA) come June 2025, marking a significant milestone in the continent’s journey toward economic sovereignty and integration. This groundbreaking initiative, born out of the need to address longstanding challenges posed by international credit rating agencies, promises to provide a fairer, more transparent, and development-focused assessment of Africa’s creditworthiness. This agency’s mission is quite clear, it looks to provide independent, credible, and African-owned credit ratings for sovereigns, sub-sovereign entities, and corporations across the continent. Unlike traditional credit rating agencies, AfCRA will focus exclusively on African economies, incorporating…
The Central Bank of Kenya (CBK) has started the year by lowering the Central Bank Rate (CBR) from 11.25% to 10.75%, marking the first time the Monetary Policy Committee (MPC) has started the year with a decrease to the rate since 2020. With this decision, the government aims to boost economic activity and encourage credit growth while ensuring exchange rate stability. In addition to the CBR cut, the MPC also lowered the Cash Reserve Ratio (CRR) by 100 basis points from 4.25% to 3.25%. These measures are intended to work together, with the reduction in the CRR expected to increase…
African nations are rallying to combat the dire consequences of traditional cooking methods, which claim an estimated 600,000 lives annually—primarily women and children— who are exposed to toxic smoke from open fires and biomass fuels like wood and charcoal. During the Mission 300 Africa Energy Summit in Tanzania, this was the primary focus as a number of African countries pledged to accelerate access to electricity and clean cooking solutions. The summit, which was organized by the Government of Tanzania and Mission 300, an unprecedented collaboration between the African Development Bank Group, the World Bank Group and global partners, highlights that…
Kenya Airways, the country’s national carrier and Air India, India’s leading global carrier have embarked on a transformative codeshare partnership, marking a significant milestone in African-Asian aviation collaboration. The agreement aims to enhance connectivity between Kenya and India while unlocking seamless travel opportunities for passengers across both airlines’ networks. Under the partnership, Kenya Airways (KQ) will place its code on Air India’s non-stop flights between Nairobi and Mumbai, as well as Nairobi and Delhi, while Air India will add its code to Kenya Airways’ services on the same routes. This synergy allows travellers to book flights on a single ticket,…
After launching a new Electronic Travel Authorization (eTA) system at the start of 2024, the Cabinet, has put forth recommendations aimed at improving it. During the first Cabinet meeting of 2025 at State Lodge, Kakamega, the proposal to exempt eTA requirements for all African nations, with Somalia and Libya being the exceptions due to ongoing security risks, was approved, supporting open skies policies and stimulating tourism growth. Under the proposed changes, most travelers from Africa will also be allowed a stay of up to two months, while nationals from East African Community (EAC) countries will enjoy a six-month stay, in…
The global geothermal power generation capacity has seen a notable increase from 16,355 MW at the end of 2023 to 16,873 MW by the close of 2024 according to a report by ThinkGeoEnergy, a leading platform for the global geothermal energy sector. This growth, which is attributed to the addition of 17 new geothermal plants, contributing an extra 389 MW to the global capacity, reflects a steady year-on-year growth trend as more projects are anticipated to come online in 2025. In Africa, Kenya continues to lead in geothermal development, maintaining its position as the continent’s top geothermal power producer. As…
CMC Motors Group, a key player in East Africa’s automotive industry and the largest distribution network in region for sales, parts and service, has announced plans to gradually cease operations in Kenya, Tanzania, and Uganda. The decision, which is made in compliance with local regulations and existing distributorship agreements, is attributed to persistent market challenges that have made it increasingly difficult to sustain operations. For over four decades, the subsidiary of CMC Holdings Ltd, which was acquired by the Al-Futtaim Group in 2014, has been a cornerstone in the East African agricultural sector, delivering high-quality services and mechanization solutions. The…
The Central Bank of Kenya (CBK) has granted a Payment Service Provider (PSP) license to Kasa Pay Limited, a subsidiary of Remitcore Group. This makes it the first fintech company in the country, excluding telecommunications firms, to hold both a PSP license as well as a remittance and cross-border payments license. The PSP license will allow the subsidiary to offer a comprehensive suite of payment solutions that cater to various needs, including seamless and secure transfers of funds within Kenya and across borders. This will be crucial for individuals and businesses seeking reliable fund transfer services, as it enhances financial…