Author: Korir Issa

Safaricom PLC has launched Daraja 3.0, a comprehensive overhaul of its M‑PESA API platform. The upgrade signals a strategic shift toward a “Fintech 2.0” ecosystem, moving beyond simple payment processing to embedded finance and the M‑PESA Super App. The announcement coincides with Safaricom’s 25th anniversary, a renewed commitment to developers who have been central to M‑PESA’s global success. Cloud‑Native Architecture Delivers Reliability and Speed Unlike earlier iterations, Daraja 3.0 is built on a modern, cloud‑native foundation. This architecture ensures higher uptime, faster responsiveness, and seamless scalability during peak traffic events. Mini Apps Bring Businesses Directly Into M‑PESA Super App A…

Kenya’s economy is now expected to expand by 4.9% in 2025, up from 4.5% in May, according to the World Bank’s latest Kenya Economic Update. The revision reflects easing inflation, accommodative monetary policy, stronger credit growth, resilient agriculture, and a decisive rebound in construction. Construction Sector Recovery According to the development lender’s latest comprehensive assessment, several of Kenya’s main industries, particularly construction, faced difficulties throughout 2024. Mounting concerns over the government’s deteriorating fiscal position dampened private sector investment and stalled major infrastructure projects. However, the World Bank notes that this troubling trend has decisively reversed in the first half of…

Kenya has announced plans to keep its budget deficit at 4.9% of GDP in the 2026/27 fiscal year, broadly in line with the current year’s forecast of 4.8%. The move reflects the government’s ongoing effort to balance debt repayments with essential spending while staying on a path of fiscal consolidation. Balancing Debt and Development Principal Secretary for the National Treasury, Dr Chris Kiptoo, said the government must focus on fiscal sustainability. He explained that Kenya faces a delicate balancing act: raising enough revenue to fund critical services while meeting its debt obligations. To cover the gap, the Treasury plans to…

Safaricom PLC has received regulatory approval from the Capital Markets Authority (CMA) to launch a KES 40 billion Medium-Term Note (MTN) programme, marking one of the largest corporate debt issuances in Kenya’s telecom sector to date. The programme will enable Safaricom to issue multiple tranches of notes, including green, social, and sustainability-linked instruments, to support infrastructure upgrades in Kenya and Ethiopia, as well as fund innovation and long-term sustainability initiatives. “The Board of Directors of Safaricom PLC are pleased to announce that the Capital Markets Authority has on November 7, 2025, granted approval for the Company to establish a Medium Term…

The Capital Markets Authority (CMA) has fined former Chase Bank Chairman Zafrullah Khan KShs 5 million and barred him from holding any directorial or senior role in the capital markets for 10 years. The enforcement action follows Khan’s central role in the fraudulent issuance and listing of a KShs 4.8 billion Medium-Term Note (MTN) in 2015, just a year before Chase Bank Limited (CBKL) collapsed and was placed under receivership. CMA: Oversight Failure and Conflict of Interest According to CMA, Khan failed to exercise effective oversight as Board Chair, leading to the publication of false and misleading financial statements in…

Africa’s private capital ecosystem is undergoing a structural shift. After two years of volatility, the market is stabilising, but with a new financing hierarchy. According to the African Private Equity and Venture Capital Association (AVCA), venture debt has overtaken equity investment for the first time, becoming the continent’s dominant source of startup capital in the first nine months of 2025. “Africa’s venture ecosystem is operating in its ‘new normal,’ having absorbed its correction and adapted to a more sustainable baseline,” AVCA noted. Equity vs Debt Financing Metric Q1–Q3 2025 YoY Change Equity Deal Volume 362 +17% (Q3 only) Equity Deal…