Author: Korir Issa

Ethiopia and Djibouti have broken ground on a pipeline that could finally end the country’s costly reliance on fuel trucks, backing a $660 million project with Africa’s richest man. A 120 Kilometre Link Between Two Coasts Workers began construction this week on a pipeline stretching 120 kilometres between Damerjog on Djibouti’s coast and Dewele in eastern Ethiopia. The pipeline connects marine and coastal storage facilities at Damerjog in Djibouti with inland storage and distribution facilities at Dewele in Ethiopia. Once both terminals are running, they will hold over one million cubic metres of fuel between them: roughly 375,000 cubic metres…

The Dangote Group has handed a major engineering consultancy contract to Engineers India Limited (EIL), pushing its planned Lamu mega refinery closer to construction as Kenya prepares to break ground on the project next week. The Indian state-owned firm will serve as Project Management Consultant and Engineering, Procurement and Construction Management Consultant for the refinery, according to a filing disclosed on the Bombay Stock Exchange on September 22. Dangote’s source text puts the contract value at US$450 million, though public records point to a US$350 million EIL award in January 2026 tied to the Lekki refinery expansion in Nigeria, a…

The Central Bank of Kenya (CBK) has approved the transfer of all business, assets and liabilities of Access Bank (Kenya) Plc to National Bank of Kenya Limited (NBK). Nigeria’s Access Bank PLC owns both lenders. CBK approved the transfer on 17 August 2026 under Section 13(4) of the Banking Act. Treasury Cabinet Secretary John Mbadi followed on 21 September under Section 9(1). CBK announced both approvals on 23 September. The transfer takes effect when the parties complete the transaction under the terms of their Business and Assets Transfer Agreement. The release gives no completion date and no transaction value. It…

Belgium and Rwanda restored diplomatic relations on 22 September 2026, ending a break that began when Kigali expelled Belgian diplomats over the war in eastern Democratic Republic of Congo (DRC). Both governments will reopen their embassies soon. Embassies reopen under interim heads The foreign ministries announced the decision in a joint statement issued on the margins of the 81st session of the UN General Assembly in New York. A chargé d’affaires will lead each mission first, and an ambassador will follow. Belgian Foreign Minister Maxime Prevot said the venue carried weight. “In a world marked by growing tensions, this is…

KCB Group, Kenya’s largest bank by assets, is acquiring a 22.23% stake in payments firm Pesapal, according to a notice from Tanzania’s Fair Competition Commission that discloses the size of a deal KCB has kept under wraps since 2025. The FCC notice, published on August 21, marks the first public confirmation of the exact stake KCB is buying. It gives the bank indirect control of Pesapal Tanzania Limited, the payments company’s licensed subsidiary in the country. The value of the transaction remains undisclosed, and the deal still requires regulatory clearance. Regulator Opens Review, Invites Public Comment The FCC said it…

Kenya’s listed banks grew their core earnings per share by 16.3 percent in the first half of 2026, nearly double the 8.4 percent pace recorded a year earlier, according to Cytonn Investments’ H1’2026 Banking Sector Report. The improvement came alongside a sharp drop in bad loans, positioning the sector for its best half year performance since the current interest rate cycle began. The report, titled “Digital Momentum and Improving Asset Quality,” reviews all 11 banks listed on the Nairobi Securities Exchange and marks the first comprehensive comparison of their H1’2026 results against a common set of metrics, filling a gap…