Category Archives: Kenya News

Kenya News

New global tax rules will help address imbalances in tax revenue in Africa

By Denny Da Silva, Associate Director, Tax, Baker McKenzie, Johannesburg One hundred and thirty six of the 140 members of the OECD G20 Inclusive Framework, including South Africa, have agreed on a new set of global tax rules that will reform the world’s tax system. Notably, two African countries that are members of the Inclusive […]

Adenia acquires leading grower of premium roses in Kenya

Adenia Partners, a private equity firm investing in Africa, has acquired a majority stake in Altilands SA, the parent company of Red Lands Roses (“Red Lands”), a leading grower of premium fresh-cut roses in Kenya. Red Lands is internationally recognized for its green horticultural practices that respect people and the environment. Financial terms of the transaction […]

Africa: tax implications of digital transformation in the consumer goods and retail sector

By Jana Botha, Tax Consultant, and Prenisha Govender, Associate, Tax Practice, Baker McKenzie Johannesburg The pandemic-fuelled growth of the digital economy and unabated demand for online retail products across Africa have led to extensive disruption in the Consumer Goods and Retail Sector (CG&R) sector. Due to a growth in demand for online retail, CG&R companies […]

DPI raises one of the largest Africa funds at US$900m to invest in innovation-led companies

Development Partners International (DPI), a premier investment firm focused on Africa, announced on 4th October that African Development Partners III Fund (ADP III), has exceeded its US$800 million target, and is set to hold a final close at US$900 million, with an additional US$250m of dedicated co-investment capital. This brings a total of US$1.15 billion […]

Kenya Plastics Pact launches to tackle plastics waste in the country

An ambitious, new collaborative initiative to tackle plastics waste and pollution has today launched in Kenya. The Kenya Plastics Pact (KPP) will bring together stakeholders across the plastics value chain to create a circular economy for plastics. The Pact brings together businesses, governments, researchers, NGOs, civil society, informal waste sector players, and other stakeholders across […]

Banks across Africa Turn to IBM Hybrid Cloud and AI Solutions to Accelerate Digital Innovation

Africa’s leading banks including EcoBank, Nedbank, Attijariwafa Bank, United Bank of Africa, Co-operative Bank of Kenya and Banco Mais are tapping into IBM technologies to help advance financial inclusion across the continent IBM today announced that major financial institutions across Africa have selected hybrid cloud and AI capabilities from IBM to unlock digital innovation and continue […]

Report shows young people earning livelihoods working in digital platforms

By Dr. Ehud Gachugu  The digital economy is expanding largely in Kenya. Covid-19 has accelerated the growth since Kenyans, especially youth, have now recognized the potential to earn a living in digital platforms. The pandemic led not only to a health crisis but also an economic crisis. The measures imposed by the Ministry of health, […]

Challenges of Governance and Succession; A Focus on the Integration of the NexGen in Family-Owned Businesses in Kenya

Written By Faizal Bhana, Director – Middle East, Africa, and India, Jersey Finance Family-owned businesses in East Africa have been instrumental to the socio-economic development of the region and a catalyst for the growth of the private sector. With a long multi-generational history, their focus has been on manufacturing industries, consumer goods, construction, and agriculture. […]

Opinion: Are we ready for the system shift to a Circular Economy?

Recently, the push for governments, civil societies, the private sector among other stakeholders to adopt circular business models to reduce climate change, encourage sustainable consumption that allows for regeneration of the natural ecosystem, build an economy that eliminates waste and pollution has gained traction. We can attest to this through the different efforts deployed by […]

Biotechnology and biodiversity in Africa

Though biotechnology is most often seen as a tool to meet Africa’s food needs, it could also play a role in protecting the continent’s unique biodiversity. Ugandan environmental activist, geneticist and conservation biologist Clet Wandui asserts that biotechnology has in fact helped to preserve and protect Africa’s biodiversity, a term that refers to the number […]

Pan African Payments Company Cellulant acquires PSP License in Ghana as it rolls out a digital payments solution for businesses

Download logo Digital payments has seen tremendous growth in the past couple of years. As of January 2021, 38.9 percent of the population aged 15 years and older had a mobile money account in Ghana. The share of mobile money users has increased over the previous three years as Ghanaians have gradually adopted a robust […]

29% of corporate users in Kenya experienced financial malware attacks in the first half of 2021

Although Kaspersky’s (https://africa.Kaspersky.com) research shows that the overall number of financial malware attacks in Kenya has decreased in the first half of 2021, when compared to the same period in 2020, 29.3% of the 7 962 attacks recorded in the country targeted corporate users, which is a cause for concern, warn Kaspersky experts. “As local […]

Coronavirus – Kenya: COVID-19 Update (03 August 2021)

New cases: 1,085 Sample size: 7,067 Positivity rate: 15.4% Recoveries: 403 Recorded Deaths: 25 Cumulative tests: 2,149,376 Total Confirmed cases: 205,356 Total Recoveries: 190,095 Cumulative Fatalities: 3,995 Distributed by APO Group on behalf of Ministry of Health, Kenya. Media filesDownload logo

Coronavirus – Kenya: Another 410,000 COVID-19 vaccine doses arrive in Kenya, donated by the UK

This afternoon 410,000 doses of the AstraZeneca-Oxford COVID-19 vaccine arrived at Jomo Kenyatta International Airport, in Nairobi. The vaccines were donated by the United Kingdom Government and transported by UNICEF. This will be followed by a further donation of 407,000 doses from the UK via the COVAX facility. The flight was met at the airport […]

Coronavirus – Kenya: COVID-19 Update (29 July 2021)

New Cases: 1,068 Sample Size: 7,398 Positivity Rate: 14.4% Recoveries: 398 Recorded Deaths: 15 Cumulative Tests: 2,116,979 Total Confirmed Cases: 201,009 Total Recoveries: 188,222 Cumulative Fatalities: 3,910 Distributed by APO Group on behalf of Ministry of Health, Kenya. Media filesDownload logo

40 Per Cent of Children in Eastern and Southern Africa are not in School

Download logo UNICEF estimates that 40 per cent of all school-aged children across Eastern and Southern Africa are currently not in school due to COVID19-induced closures and pre-pandemic levels of out of school children.  Across the region, we are seeing re-closing of schools mid-year due to recent COVID-19 surges, with over 32 million children estimated […]

Reining in Hepatitis: preventing and treating the hush killer among vulnerable populations in Kenya

Viral hepatitis caused 1.34 million deaths in 2015, a number comparable to deaths caused by TB and higher than those caused by HIV. However, the number of deaths due to viral hepatitis is, worryingly, increasing over time, while mortality caused by tuberculosis and HIV is declining. When she was almost at nine months of pregnancy, […]

Growth and Progress of Kenya’s Insurance Market

AM Best company has published a report on the overall state of Kenya’s insurance market and how price competition hinders its growth potentials. The key takeaways are challenging macroeconomic factors which are expected to abate from 2021, the successful execution of risk-based capital requirements that are strengthening the credit quality of market participants, and price […]

Over 200 graduates emerge from the Ecobank Group and AUDA-NEPAD MSME Training for Financing program

Download logo The leading pan-African banking group, Ecobank Group (www.Ecobank.com), and the African Union Development Agency New Partnership for Africa’s Development (AUDA-NEPAD), held a virtual graduation ceremony for more than 200 alumni of the inaugural Ecobank’s MSME Training for Financing Program. The Graduates came from the eight (8) countries in the pilot phase of the […]

In a bid to Improve Cross-Border Trade Across Africa, Link Commerce Partners with Cellulant to avail relevant digital payment options to online Shoppers

Download logo Pan-African payments company, Cellulant (www.Cellulant.io), has partnered with Link Commerce, a turn-key B2B eCommerce platform, to avail relevant digital payment options to consumers in Africa; making it possible to purchase goods directly from global retailers online. The number of online shoppers in Africa has surged annually by 18% since 2014, according to a […]

Top African regions set to become leading startup and investment hubs

Ian Lessem, Managing Partner at HAVAÍC

On the back of Cape Town being recognised as the tech capital of Africa, topping international rankings for foreign direct investment strategy, Ian Lessem, Managing Partner at HAVAÍC – investors in early-stage, high-growth technology businesses – says several other African cities are quickly emerging as leading startup and investment hubs to watch. “Startups in Nigeria, Kenya, Egypt and South Africa […]

Africa as an important participant in the global economy

FDI, also known as foreign direct investment, has been virtually solely concentrated in Africa on the exploitation and export of natural resources for over a century. However, the momentum has changed after the turn of the 2000 and the tendency has finally changed in recent years. Global investors are more likely to visit Africa for […]