Author: Korir Issa

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…

Tullow Oil has exited Kenya’s upstream oil sector, completing the sale of its entire working interest to Auron Energy E&P Ltd, an affiliate of Gulf Energy, for a minimum cash consideration of US$120 million (approx. Sh15.6 billion). The transaction, announced on the London Stock Exchange, marks a major milestone for Kenya’s energy ambitions, with Gulf Energy now assuming full control of the Turkana oil project, bringing the country closer to producing its first oil. Deal Terms and Strategic Implications Tullow confirmed receipt of US$40 million under Tranche A of the Sale and Purchase Agreement (SPA), originally announced on 21 July…

Verto, a global financial technology company transforming cross-border payments and foreign exchange for businesses, has officially launched its new East African hub in Nairobi, Kenya. The strategic expansion underscores Verto’s commitment to simplifying global trade for emerging markets and deepening its footprint across Africa. Located at The Address, Muthangari Drive, the Nairobi hub will serve as a regional anchor for Verto’s operations, supporting a growing customer base across Kenya, Uganda, and Tanzania. From this base, Verto will enhance customer experience, forge regional partnerships, and deliver locally tailored payment solutions to businesses transacting across borders. “Kenya’s digital infrastructure, entrepreneurial energy, and…