Author: Korir Issa

The Private Infrastructure Development Group (PIDG) has announced an investment of Kshs 1.95 billion ($15 million) into Africa Logistics Properties’ (ALP) dollar-denominated Industrial Income Property Fund (IPF), positioning itself as the anchor investor in East Africa’s first industrial Real Estate Investment Trust (REIT). Backed by six governments—including the United Kingdom, Netherlands, Switzerland, Australia, Sweden, and Canada—PIDG’s investment will be channeled through its project development arm, InfraCo, subject to the successful completion of ALP’s ongoing capital raise. Unlocking Industrial Growth Through REITs Approved by the Capital Markets Authority (CMA) in December 2025, the ALP REIT marks a milestone for Kenya’s property…

The African Export-Import Bank (Afreximbank) terminated its credit rating relationship with Fitch Ratings, arguing that the agency’s assessments failed to reflect the Bank’s mandate and mission. The decision follows Fitch’s downgrade of Afreximbank to one notch above junk status in 2024, a move that intensified scrutiny of the lender’s risk profile and raised borrowing costs. Moody’s and Fitch Downgrades Fuel Debate on Western Influence Moody’s downgraded Afreximbank shortly after Fitch, reinforcing concerns about how Western rating agencies shape perceptions of African creditworthiness. Analysts criticized the “Big Three” — Fitch, Moody’s, and Standard & Poor’s — for applying frameworks that inflate…

East Africa’s banking sector is bracing for tougher times as regulatory uncertainty, rising compliance costs, and digital disruption dominate the outlook, according to PwC’s 2026 Eastern Africa Banking Survey. Executives warn that unpredictable rule changes are now the single biggest risk to growth. Regulatory Uncertainty Tops Concerns The survey, conducted among senior banking executives in Kenya, Uganda, Tanzania, Rwanda, and Mauritius, reveals that 68% of respondents are “concerned” or “extremely concerned” about regulatory unpredictability. Banks cite shifting capital requirements, new consumer protection rules, and evolving tax compliance frameworks as major hurdles. “The pace of regulatory change is outstripping banks’ ability…

Nigeria’s Zenith Bank Plc has received approval from the Competition Authority of Kenya (CAK) to acquire 100% of Paramount Bank Ltd. The transaction qualifies as a merger under Section 2 and 41 of the Competition Act and meets the KES 1 billion threshold for mandatory notification. Zenith Bank, which operates in Nigeria, Ghana, Sierra Leone, Gambia, the UK, France, UAE, and China, has no commercial operations in Kenya. CAK stated, “The transaction is unlikely to lead to substantial lessening or prevention of competition in the relevant market.” Paramount Bank ranks 33rd out of 39 licensed banks and holds 0.2% market…

The EABL Foundation has signed a Memorandum of Understanding (MOU) with CARE International, committing over KSh 35 million to empower 1,600 marginalised individuals within its value chain. The investment marks a milestone in EABL’s Spirit of Progress strategy, which champions inclusion and diversity by ensuring that at least half of community program beneficiaries are women. Two Strategic Pillars of Empowerment The partnership will roll out a community empowerment model across two focus areas: Farmer Empowerment: Supporting 1,500 small‑scale sorghum farmers in Kisumu, Homa Bay, and Siaya to boost productivity and resilience. At least 60% of these farmers will be women,…

Uchumi Supermarket has reopened two outlets in Nairobi, marking its return to Kenya’s retail market after years of restructuring. The retailer relaunched branches at Unicity Mall along Thika Road near Kenyatta University and at Lang’ata Hyper off Lang’ata Road. The Unicity Mall store, opened in late 2024, now offers essential goods and bakery services. The Lang’ata Hyper site operates as a mixed‑use retail and commercial space, hosting Uchumi alongside other tenants. In a social media post, Uchumi said the reopening reflects a renewed connection with customers: “Uchumi is back — not just as a store, but as a story reborn……