Author: Muindi

Meta, through its Irish subsidiary Edge Network Services Ltd, has signed an agreement with Safaricom to deploy a new submarine cable system connecting Oman and Kenya. The initiative aims to boost data capacity, reduce latency, and strengthen internet reliability across East Africa. Strategic Infrastructure for Digital Growth The project is being developed by Edge Network Services, Meta’s global infrastructure arm, and will be fully funded by Meta. Safaricom will act as the landing partner in Kenya, managing local operations and overseeing infrastructure within the country’s territorial waters. “This deal marks a major milestone as we celebrate 25 years,” said Peter…

Access Bank Group is set to acquire the National Bank of Kenya (NBK) for USD 109.6 million (KSh 14.2 billion), according to its half-year financial statements for the period ended 30 June 2025. However, the transaction remains incomplete pending one final regulatory approval. “On 30 May 2025, the Group announced the completion of its acquisition of the entire issued share capital of National Bank of Kenya (‘NBK’) from KCB Group Plc following the receipt of regulatory approvals in Kenya and Nigeria,” Access Bank stated in its filings. “However, these approvals remained conditional as at reporting date. The transaction remains subject…

Kenyans will soon pay more for both domestic and international flights following the enactment of the Air Passenger Service Charge (Amendment) Act, 2025, the first fare adjustment in over a decade. Signed into law by President William Ruto on October 15, the legislation increases ticket levies to support critical state agencies in aviation, tourism, and climate resilience. What Travellers Will Pay Under the revised structure: Domestic flights: KSh 600 (up from KSh 500) — a 20% increase International flights: KSh 6,500 (up from KSh 5,200) — a 25% increase (Equivalent to US$50, up from US$40) The law also empowers the…

The Dar es Salaam Stock Exchange (DSE) has listed Tanzania’s first Exchange Traded Fund (ETF), the Vertex International Securities ETF (VIS-ETF). Vertex International Securities Limited, a firm with roots in East African investment advisory, manages the VIS-ETF. The ETF is designed to provide Tanzanian investors with access to a diversified portfolio of global equities, thereby enhancing portfolio diversification and market liquidity. “This listing is a strong reflection of investor trust and our commitment to broadening access to capital market opportunities,” said Mateka Mgeta, CEO of Vertex International Securities, during the launch ceremony. The ETF raised TZS 6.8 billion, surpassing its…

Despite a year marked by macroeconomic turbulence, trade uncertainty and geopolitical tensions, reform-driven African economies are proving resilient. According to the Absa Africa Financial Markets Index 2025, while only 10 of 29 countries improved their scores, deeper analysis shows significant progress in foreign exchange reforms, climate finance, and product innovation. Progress Despite Global Headwinds The past 12 months have tested Africa’s financial systems. According to the index, two-thirds of countries saw their scores fall or remain unchanged. Yet beneath the surface, reform momentum is accelerating. Kenny Fihla, CEO of Absa Group, says, “On a headline basis, the last year may…

President William Ruto has declared a seven-day period of national mourning following the death of former Prime Minister Raila Amolo Odinga, EGH, one of Kenya’s most iconic political figures. Odinga passed away on the morning of Wednesday, October 15, after suffering a cardiac arrest during a morning walk in India, where he had been receiving medical treatment. “In honor of the life and times of the former Prime Minister Raila Odinga, and on behalf of the grateful nation, I, William Ruto, under the authority vested in me as the President of the Republic of Kenya, declare that the nation will…