When it comes to technology, Africa remains among the last in the race, it is said. However, this has given the continent a unique attribute, evident in its ability to leapfrog plastic money to mobile technology. With the example of Safaricom’s M-Pesa, which is among the leading innovations of the transition, Africa is doing well on the financial inclusion front. The continent has tried to keep up with the rest of the world thanks to its continuous quest to harness emerging technologies such as artificial intelligence (AI). Even though not all of Africa is yet to experience the emerging generative…
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.
In the battle for the acquisition of Bamburi Cement, one of the leading cement and concrete producers in Eastern Africa, Amsons Industries (K) Ltd, a Tanzania based conglomerate, has taken the advantage by taking control of a percentage of the company’s shares. After making an offer to acquire Bamburi Cement, in Q3 2024, at Sh65 per share, December 18th 2024, days after its main competitor, Savannah Clinker withdrew their bid, witnessed the transfer of 137.06 million shares of Bamburi Cement. This represented 37.76% of the company’s total shares, which were valued at Sh65 per share resulting in a block trade…
As the festive season kicks off, the Energy and Petroleum Regulatory Authority (EPRA) has eased the financial burden on Kenyans as it announced a decrease in fuel prices for the period between 15th December and 14th January 2025. According to EPRA, the new prices have seen petrol reduce by Sh4.37 per litre to Sh176.29, diesel by Sh3 to Sh165.06, and kerosene by Sh3 to Sh148.39, marking the lowest levels since April last year. However, despite the reduction, tax and levies have once again made up a majority of the retail price of petrol per litre for the period. Taxes and…
Since 2020, when Kenya’s risk of debt distress was raised from moderate to high due to the impact of the global COVID-19 crisis, as reflected in the joint World Bank-IMF debt sustainability analysis report, the country has remained at high risk. Even so, Kenya recorded a decline in its public debt-to-GDP ratio in FY 2023/24. According to the World Bank’s latest economic update for Kenya, the total public debt-to-GDP ratio decreased from 72% in FY 2022/23 to 65.7% in FY 2023/24. This was largely due to the appreciation of the Kenyan shilling against the dollar, which lowered the cost of…
TotalEnergies Marketing Kenya PLC has issued a profit warning for the year ending December 31, 2024. The company projects a significant decline in its 2024 full year profit after tax, estimating it to decrease by over 25% compared to the profit recorded in the financial year ending December 2023. According to it’s 2023 annual financial statement, TotalEnergies Marketing Kenya PLC reported a profit after tax of Sh3.02 billion. However, now, the projected decline in 2024 will see the profit, once again, fall below the Sh3 billion mark as was the case in the year 2022, where it stood at Sh2.44…
Since August 2024 the Central Bank of Kenya (CBK), through the Monetary Policy Committee (MPC), has lowered the Central Bank Rate (CBR) three times, in an effort to ease monetary conditions. In that period, the average lending rate has increased from 16.84% to 17.15% between August and October. As the MPC announced its recent reduction, lowering the CBR to 11.25% from 12%, commercial banks have finally made a move. Through the Kenya Bankers Association (KBA), they have committed to reducing the rates. Effective December 2024, banks are expected to start notifying customers about the reduction in loan rates. According to…
Artificial intelligence (AI) is expected to take centre stage, yet again, in 2025 as it continues its transformative role in almost every industry across the world. According to Kaspersky, a global leader in next-generation cybersecurity solutions and services, AI will continue to be an integral part of daily life, as well as privacy concerns around biometric data and advanced technologies, shaping the consumer cybersecurity landscape in 2025. In the coming year AI applications are expected to extend beyond novelty to essential tools embedded in operating systems like iOS and Android. This integration will enhance communication, workflows, and creative tasks, but…
Following the move by Kenya, whereby the High Court dismissed petitions that were challenging the lifting of a ban on genetically modified organisms (GMOs) in November 2024, the National Biosafety Authority (NBA) in Kenya has mandated that individuals rearing GMOs must register and obtain approval first. In accordance to the Biosafety Act, unauthorized dealings with GMOs will be punishable by law, ensuring that all activities related to GMOs are conducted within a regulated framework. With the recent ruling overturning the ban placed on GMO cultivation in 2012, it paves the way for more extensive evaluations of genetically modified crops such…
Independent Power Producers (IPPs) charged a higher cost per kWh as compared to the Kenya Electricity Generating Company PLC (KenGen) in accordance to a recent report from the Auditor-General on the Kenya Power and Lighting Company PLC for the year ending June 30, 2024. This analysis reveals significant disparities in the cost of electricity purchased from these two sources, raising concerns about the financial implications for the country’s energy sector. According to the report, a total of Sh150.61 billion was paid for 13,684 gigawatt-hours (GWh) of electricity. KenGen supplied 5,048 GWh, accounting for 59% of the total power purchased from…
United States President-elect Donald Trump has issued a stern warning to the BRICS nations, threatening to impose 100% tariffs if they attempt to shift away from the U.S. dollar. This dramatic statement comes as the BRICS group, which now includes Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, and the United Arab Emirates, has been exploring ways to leverage its collective economic power in a world dominated by the U.S. dollar. Trump’s warning, came as a direct response to Russia’s call for BRICS nations to diminish the international dominance of the U.S. dollar. The president-elect demanded that these countries…