The Competition Authority of Kenya (CAK) has granted unconditional approval for the acquisition of Mace Consult Holding Limited by Consult Bidco Limited. The green light was given after an analysis concluded that the deal is not expected to substantially lessen or prevent competition within the market for project management consultancy services. The acquiring entity, Consult Bidco, though a newly incorporated vehicle, is ultimately steered by the formidable and recognized Goldman Sachs Group, Inc. Its target, Mace Consult Holding Limited, which is incorporated in the US, operates in Kenya through its local affiliates Mace Management Services Limited and Mace YMR Limited…
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.
Healthcare Global Enterprises Limited (HCG), a leading provider of cancer care in India, is set to increase its stake in its step-down subsidiary, Cancer Care Kenya Limited (CCK). Following an approval by its board of directors, the provider will acquire a further 10% shareholding in CCK. The investment, which is valued at Sh102.12 million, is set to be complete by the end of the first quarter of 2026. Cancer Care Kenya, which has been operational since 2007, runs a full-fledged cancer hospital in Nairobi. The facility provides a critical range of services from radiation and chemotherapy to a dedicated 15-bed…
Vodacom Group has entered into a partnership with SpaceX’s Starlink to integrate low-Earth orbit satellite technology into the very fabric of its African mobile network. This continent-wide partnership, unveiled at the Africa Tech Festival 2025, represents a strategic answer to the immense challenge of bringing high-speed internet to remote and rural areas. For Vodacom, whose customer base exceeds 200 million, the traditional approach of building infrastructure is often too costly in regions with difficult terrain and scattered populations. This collaboration directly tackles that economic hurdle by turning to the skies, using Starlink’s low-Earth orbit satellites to provide the vital data…
Kenya Breweries Limited, a key component within the region’s leading beverage business, has announced an opportunity for specialized recycling partners. The company, which is a subsidiary of EABL, is seeking expressions of interest from qualified and licensed scrap metal dealers for a significant disposal project. The initiative focuses on clearing out a collection of obsolete and unserviceable assets that have reached the end of their operational life within its inventory. The items identified for disposal represent a wide array of decommissioned industrial equipment. This includes large-scale fixtures like fermenting vessels and steel water tanks, alongside specialized machinery such as electric…
East African Breweries PLC (EABL) has successfully closed the books on the latest major offering under its ambitious Sh20 billion Medium-Term Note Programme. The offer for the initial tranche, which concluded on November 10, was met with overwhelming demand, far surpassing the company’s initial expectations and painting a bullish picture for the corporate debt market. Investors flocked to the opportunity, submitting applications totaling a substantial Sh16.76 billion against an original target of Sh11 billion. This enthusiastic response resulted in a remarkable subscription rate of 152.4%, signalling strong market belief in EABL’s financial stability and future prospects. Capitalizing on this robust…
A new wave of investment is rolling into the bustling start-up scene, and this time, individuals are being invited to join the ride. Roam, a company founded in Sweden and built in Kenya, is breaking from tradition by opening a portion of its multi-million dollar funding round to retail investors worldwide. Through a campaign on the UK-based equity crowd-funding platform, Crowdcube, supporters can now own a piece of the e-mobility future for as little as Sh1,701.47 (£10), democratizing investment in African clean technology. This public offering is part of Roam’s larger Pre-Series B round, which targets a substantial funding between…
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…
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…