Author: Muindi

Everstrong Capital, a US-based infrastructure investment firm operating in Kenya, has confirmed that construction of the 440-km Nairobi-Mombasa Expressway will begin in Q1 2026. The announcement was made by Senior Advisor Kyle McCarter on April 25, following a meeting with former Kenyan Prime Minister Raila Odinga, where they discussed the critical need for enhanced African infrastructure. McCarter revealed that Everstrong Capital will submit a feasibility study to the Kenya National Highways Authority (KeNHA) for approval in May 2025, aiming for financial closure by year-end. Update on delivery: submitting feasibility study in May, looking for on time approval from Kenha &…

Kenya’s betting industry is characterised by widespread low-stakes gambling, with a minority of high-stakes bettors spending significant amounts each month. According to GeoPoll’s 2024 Betting in Africa survey, 82.8% of Kenyan respondents reported having placed a bet, maintaining Kenya’s position as a leading betting market in Sub-Saharan Africa, ahead of South Africa (73.9%), Ghana (73%), Uganda (71.4%), Tanzania (71.1%), and Nigeria (65.3%). Betting Frequency and Demographics The survey, which sampled 3,070 youth across six African countries, found that the majority of Kenyan bettors are young and urban, with 72% male and 28% female respondents. Age distribution was 40% (18-24), 46%…

Kenyan President William Ruto signed a $1 billion agreement with China during a five-day state visit to Beijing, aimed at deepening the strategic partnership between the two nations. The deal, announced Wednesday, targets key sectors under Kenya’s Bottom-Up Economic Transformation Agenda (BETA), including manufacturing, agriculture, and tourism. The agreement allocates $950 million to priority areas: $320 million for manufacturing, $430 million for agriculture, and $230 million for tourism. Notable projects include a $150 million construction deal with China Wu Yi, $400 million for agricultural initiatives in Baringo led by Zonken Group, and a $230 million tourism investment by Hunan Conference…

The International Monetary Fund projects sub-Saharan Africa’s GDP growth to slightly decline from “4% in 2024 to 3.8% in 2025,” according to the latest World Economic Outlook. South Africa and Nigeria have been revised downwards, with the IMF anticipating “deteriorating investor sentiment, lower crude oil prices, and an anticipated global slowdown.” Economic growth in sub-Saharan Africa will “slow to 3.8% in 2025 from 4% last year,” with a rebound to “4.2% next year.” Forecasts for global growth have been lowered since January due to “new US tariff rates and a highly unpredictable trading environment.” Senegal, Ethiopia, and Côte d’Ivoire are…

The Central Bank of Kenya (CBK) has proposed a shift from the current risk-based pricing model (RBCPM) to a lending rate model anchored on the Central Bank Rate (CBR). This proposal is detailed in a CBK consultative paper seeking public input on the RBCPM review. The initiative responds to concerns that some banks have inconsistently applied the RBCPM since its 2019 introduction. “There are lingering concerns regarding the availability, quality, and fairness of the credit scoring data underpinning the model, as well as consistency of RBCPM application across commercial banks. These issues have significant implications for maintaining the integrity of…

For a continent long recognised for its youthful population, demographic trends are now translating into significant market influence. New projections from the World Data Lab’s “Gen Z and the Future of the African Consumer” indicate that Africa’s Generation Z (individuals born between 1997 and 2012) is poised to command US$801 billion in consumer spending by 2025, establishing them as the largest spending cohort across the continent. This figure is projected to exceed US$1 trillion by 2032, a milestone signifying more than just economic expansion. It points to a broader global shift in consumption patterns, moving away from the traditional “Global West”…