Author: Korir Issa

IFAD and Equity Group have launched a $200 million mechanism to move climate adaptation loans to smallholder farmers and rural businesses across East Africa, where capital has struggled to reach the people who need it. The two organisations launched the Africa Rural Climate Adaptation Finance Mechanism, or ARCAFIM, at the Africa Food Systems Forum 2026 in Kigali. The mechanism pairs the International Fund for Agricultural Development with Equity Group, which has spent years building a climate finance book across the region. The Green Climate Fund, Finland’s Ministry for Foreign Affairs and the Nordic Development Fund are co financing the mechanism.…

Kenya’s private sector activity contracted in August for the first time in three months, as supply constraints and cost pressures led companies to reduce output and purchases, a survey showed on Thursday. The Stanbic Bank Kenya Purchasing Managers’ Index fell to 49.7 in August from 51.3 in July, dropping below the 50.0 threshold that separates growth from contraction. S&P Global compiled the reading from responses collected between August 12 and 26. The index had crossed above 50.0 in July for the first time in five months before falling back in August. What Pushed the Index Below 50 New orders rose…

The United States has approved a two year extension of the African Growth and Opportunity Act (AGOA), preserving duty free access to the American market for 32 eligible African countries through December 31, 2028. Congress passed the extension as part of a Continuing Resolution funding the federal government. The House approved the measure this week by a vote of 370 to 48, following Senate passage on August 8 by a margin of 90 to six. The bill now heads to President Donald Trump for his signature. AGOA has anchored trade between the United States and sub-Saharan Africa since 2000. It…

Uber has pulled out of Nigeria and Uganda, ending a combined 22 years of ride hailing operations across both countries and narrowing its African presence to four markets. The company confirmed the exit in a statement issued to reporters and in a separate email sent directly to riders in both countries on Wednesday. Uber said the decision followed a full review of its business and would take effect immediately. “After a thorough review, we have taken the difficult decision to wind down operations in Nigeria and Uganda, effective September 2, 2026,” an Uber spokesperson said in the statement. “This decision…

The Kenyan government and traders in the consolidated cargo sector signed a communique on September 2, 2026, setting the customs valuation benchmark at Sh2 million, a figure below the Sh2.5 million level that applied before the Kenya Revenue Authority (KRA) raised it to Sh3.2 million on August 21. President William Ruto had already ordered KRA to reverse the Sh3.2 million benchmark and restore the Sh2.5 million cap on Wednesday, five days after the increase triggered a traders’ boycott and a tear gas response from police in Nairobi’s central business district. The communique, issued by the Ministry of Investments, Trade and…

The Agricultural Development Corporation (ADC) has disclosed receipt of a privately initiated proposal from Mt Elgon Orchards Ltd to develop an integrated avocado and berry farming, processing and export enterprise on roughly 1,000 acres of ADC land in Trans Nzoia County. ADC received the proposal on July 16, 2026, under Section 40 of the Public Private Partnerships Act, 2021. The corporation published the disclosure in line with a National Treasury circular that requires contracting authorities to notify the public whenever they receive an unsolicited proposal of this kind. What ADC Disclosed Item Detail Contracting Authority Agricultural Development Corporation PLC Proponent…