Author: Muindi

The Capital Markets Authority wants eyes on every blockchain transaction flowing through Kenya’s virtual asset market. The regulator has issued a tender to procure and deploy a Virtual Assets Blockchain Analytics System, a tool meant to give supervisors real time visibility into wallets, exchanges, and the trading platforms that move digital assets across borders. Why the Authority Needs This Now Kenya’s appetite for cryptocurrency and blockchain based finance has grown faster than the rules meant to govern it. That gap has opened the door to money laundering, terrorism financing, fraud, market manipulation, sanctions evasion, tax evasion, and scams that ride…

Equity Group, AfricaNenda Foundation and the Gates Foundation have signed a partnership to speed up the rollout of Digital Public Infrastructure across Africa, betting that stronger ties between banks, regulators and technology providers can close a financial inclusion gap that still leaves nearly 400 million Africans outside the formal financial system. The agreement, announced in Nairobi, brings together AfricaNenda’s technical expertise on payment systems with Equity Group’s reach across East and Central Africa. Together, the partners will work on interoperable payment systems, digital identity, government and merchant payment solutions, and cross border payment corridors, four building blocks that determine whether…

Varun Beverages Limited will expand into East Africa’s dairy market. The PepsiCo bottling giant said on Monday, July 6, that its wholly owned subsidiary, VBL Industries (Kenya) Limited, has signed a business transfer agreement to acquire the dairy beverages, juices and packaged water business of Devyani Food Industries (Kenya) Limited for $32 million, roughly ₹305 crore or Sh4.15 billion. The seller trades under the Daima brand, a household name in Kenyan dairy known for milk, yoghurt and juice products sold across the country. Devyani Food Industries (Kenya) is a subsidiary of Devyani Food Industries Limited, part of the promoter group…

Absa has lost another senior executive, and this time the departure marks a turning point rather than a setback. Yasmin Masithela, the bank’s former interim chief executive of Corporate and Investment Banking (CIB), opted for early retirement, stepping down from her executive role on 30 June 2026. She will serve out her contractual notice period on garden leave until the end of December. Her exit follows that of Punki Modise, head of strategy and sustainability, who left earlier this year, and comes as South Africa’s third largest bank rebuilds its executive ranks around a pan-African growth strategy. Absa credited Masithela…

Private equity firm Adenia Partners has taken majority control of Minet Group, acquiring the insurance brokerage and risk advisory firm from Capitalworks in a deal that closed on 30 June 2026 after clearing regulatory approval across every market the business operates in. Financial terms were not disclosed, but the transaction ranks among the more consequential private equity moves in African financial services this year, handing Adenia control of one of the continent’s largest independent insurance distribution platforms. What Minet Actually Does Minet operates across nine African countries, Botswana, Kenya, Lesotho, Malawi, Mozambique, Namibia, Tanzania, Uganda and Zambia, offering insurance brokerage,…

The Kenya Revenue Authority has opened a new tax amnesty window, giving taxpayers until the end of the year to clear old debts without paying a shilling in interest or penalties. The programme, re-introduced under the Finance Act 2026, took effect on 1 July 2026 and runs through 31 December 2026. It waives 100% of penalties, interest, and fines on tax debts accrued up to 31 December 2025. KRA says the initiative builds on two earlier amnesty cycles that recovered Kshs 80.9 billion in principal tax payments while bringing thousands of taxpayers back into compliance. Who Qualifies Automatically Two groups…