Author: Korir Issa

Equity Bank and the International Finance Corporation (IFC) have launched a $20 million risk-sharing facility to enhance financial inclusion for underserved communities in 14 counties across Kenya, including refugees and their host communities.  This groundbreaking initiative aims to empower refugees and host communities by improving their economic stability and self-reliance. The program seeks to foster entrepreneurship, create jobs, and drive sustainable economic development in marginalized regions by providing access to credit and other financial services. “This partnership with IFC embodies Equity’s commitment to driving financial inclusion and economic empowerment across the African continent,” noted Moses Nyabanda, Equity Bank Kenya Managing…

Kenyan coffee chain Java House is set to change hands for the fourth time in 12 years. London-based private equity firm Actis has agreed to sell Java House to Alterra Capital and Phatisa Group, both Africa-focused private equity firms. While the transaction value remains undisclosed, Mauritius-based Alterra will hold a majority stake. Founded in 1999, Java House has grown to operate 73 outlets across Kenya, Uganda, and Rwanda. The chain is part of the Java House Group, which also encompasses food manufacturer Foodscape and other F&B brands like Kukito, Planet Yogurt, and 360 Degrees Artisan Pizza. This acquisition marks a…

Kenya’s overall inflation rate edged upwards to 3.3% in January 2025, from 3.0% in December 2024, according to the Kenya National Bureau of Statistics (KNBS). This uptick was primarily driven by rising food prices. Food inflation accelerated to 6.1% in January, compared to 4.8% in December, primarily due to significant price increases in vegetables such as tomatoes (up 17.9%) and onions (up 6.8%). Transportation costs also contributed to the inflationary pressure, increasing by 0.7%. While the housing, water, electricity, gas, and other fuel categories saw a slight decline in prices due to lower electricity and gas costs, kerosene prices rose…

East African Breweries Plc (EABL) says it posted robust half-year financial results, rewarding shareholders with an interim dividend of Kshs 2.50 per share. Despite a challenging macroeconomic environment, EABL achieved a 20% increase in Profit After Tax, reaching Kshs 8.1 billion, driven by reduced interest costs and favourable foreign exchange gains. Net revenue for the six months ending December 31, 2024, reached Kshs 67.9 billion, reflecting a 2% increase compared to the same period last year. This growth was supported by a 1% volume increase, underpinned by continuous investments in innovative product offerings, impactful marketing campaigns, and enhanced route-to-market efficiencies.…

TikTok has announced strategic partnerships with Aleph Holdings and Wowzi to enhance its operations and support the growth of the Kenyan creator economy. Aleph Holdings will now manage TikTok’s sales and support operations in Kenya, streamlining advertising for businesses. This partnership will provide Kenyan businesses with direct access to TikTok’s expertise, simplifying the advertising process and enabling them to leverage local insights. Wowzi, a leading technology marketplace, will serve as TikTok’s official creator management partner. This collaboration will connect Kenyan creators with brands and agencies, providing valuable opportunities to expand their reach and build successful careers on the platform. “These partnerships…

Kenya has operationalized seven new border posts to enhance international trade and security, Commissioner for Customs and Border Control at the Kenya Revenue Authority (KRA), Lilian Nyawanda, announced during International Customs Day (ICD) 2025 celebrations in Nairobi. Located along the borders with Uganda, Tanzania, and Ethiopia, these new points of entry and exit are equipped with advanced technology designed to significantly reduce cargo clearance times and increase trade volumes. The specific locations are: Kenya-Uganda Border: Konyao and Lomokori/Lokiriama Kenya-Tanzania Border: Olposimoru Kenya-Ethiopia Border: Illeret/Banya Fort, Todonyang, Suftu, and Rhamu Nyawanda emphasized that the new posts will streamline the movement of…