Author: Korir Issa

Kenya’s usable foreign-exchange reserves surged to an all-time high of USD 12.07 billion (KSh 1.56 trillion) in mid-October 2025, marking the highest level ever recorded since the Central Bank of Kenya (CBK) began weekly disclosures. This milestone follows a USD 1.36 billion (KSh 176 billion) build-up in the first two weeks of October, driven primarily by proceeds from the government’s latest Eurobond issuance. Eurobond Proceeds Drive Reserve Surge The October 2025 Eurobond raised USD 1.5 billion (KSh 194 billion) across seven- and twelve-year tranches.  CBK data show the following reserve trajectory: October 2: USD 10.72 billion (KSh 1.39 trillion) October…

Mi Vida Homes has transitioned to full local ownership following a management-led buyout from UK-based investor Actis and Indian conglomerate Shapoorji Pallonji for the Nairobi-based residential developer. Strategic Exit by Actis and Shapoorji Pallonji The value of the transaction Share Purchase Agreement (SPA) remains undisclosed and is subject to regulatory approvals. The buyout marks the first time Mi Vida Homes has been fully locally owned since its founding in 2018, when Actis and Shapoorji Pallonji launched the platform to deliver green, affordable, and mid-market housing built to institutional standards. “Today, with a strong balance sheet, a diversified capital base, and…

Mauritius-based private equity firm Adenia Partners has received regulatory clearance from the Competition Authority of Kenya (CAK) to acquire 100% of Minet (Mauritius) Holdings Ltd through its investment vehicle, Bima Holdings Ltd. The unconditional approval allows Adenia to expand its footprint in Kenya’s financial services sector, marking its first entry into insurance brokerage and pension administration. Minet Kenya, the local arm of the pan-African insurance group, holds approximately 6% of the general insurance brokerage market, less than 1% in long-term insurance, and 4.89% in pension administration, according to CAK. “The proposed transaction is unlikely to substantially lessen or prevent competition…

Kenya has finalised a currency conversion deal with China for its Standard Gauge Railway (SGR) loans, a strategic move expected to save the country approximately $215 million (Ksh27.79 billion) annually in debt servicing. The announcement was made by Treasury Cabinet Secretary John Mbadi, who confirmed that the government successfully converted part of its Chinese railway debt from U.S. dollars to Chinese yuan (renminbi) following bilateral talks. “Presently, our debts are so concentrated in one currency, in dollar terms, especially external debts,” Mbadi told Bloomberg. “We are trying to spread that risk by diversifying currencies.” Currency Diversification Strategy The conversion is…

The Central Bank of Kenya (CBK) has lowered its benchmark lending rate by 25 basis points to 9.25%, citing room for further monetary easing amid stable inflation and resilient economic performance. In its Monetary Policy Committee (MPC) meeting held on October 7, 2025, the CBK announced the reduction of the Central Bank Rate (CBR) from 9.50% to 9.25%, marking the eighth consecutive rate cut. “The Monetary Policy Committee (MPC) decided to lower the Central Bank Rate (CBR) by 25 basis points to 9.25 percent from 9.50 percent,” the CBK said in its statement. The Committee noted that the move is…

PZ Cussons, the multinational behind Imperial Leather and Carex, has placed its Kenyan business under formal review as part of a broader reassessment of its African operations. The move casts uncertainty over the future of PZ Cussons East Africa, which manufactures and distributes personal and home care products across the region. The London-listed group said the review covers its Family Care unit in Kenya, operations in Nigeria and Ghana, and its Electricals division in Nigeria. This follows a series of strategic pivots aimed at simplifying the group’s structure and refocusing on core brands. “We are conducting a strategic review of…