Author: Muindi

Kenya has shelved its flagship $1 billion data centre project backed by Microsoft and Abu Dhabi-based G42, after the country’s electricity system proved unable to support the facility at its intended scale. The decision closes out one of East Africa’s most closely watched technology investments and exposes a gap that sits beneath almost every major AI infrastructure announcement on the continent. A Deal That Began at the White House President William Ruto announced the project during a state visit to Washington in May 2024, witnessed under the Biden administration as a signal of deepening technology ties between the United States…

Stanbic Bank Kenya delivered a solid first quarter in 2026, growing profit after tax by 5.5% to KES 3.52 billion, up from KES 3.33 billion in the same period last year. The results, released on 6 May 2026, reflect disciplined cost management and a rapidly expanding balance sheet. Lending Business Drives Revenue Net interest income climbed 11.7% to KES 7.57 billion, powered by a 4.7% rise in total interest income and a 6.4% reduction in interest expenses. That combination widened the bank’s lending margins considerably and anchored overall revenue growth. Loans and advances grew 5.8% to KES 258.2 billion, driven…

Nike has opened its first flagship store in Nairobi, setting up at Sarit Centre in a move that signals the brand’s deepening commitment to Kenya and the wider East African market. The store brings together performance gear, sport culture and lifestyle under one roof, built around what Nike describes as an immersive retail experience designed to connect athletes and consumers with the future of sport. Kipchoge marks the moment Marathon legend Eliud Kipchoge attended the opening, joining a panel conversation with local athletes and members of Nairobi’s running community. His presence carried weight beyond ceremony. Kipchoge has spent years building…

Absa Bank Kenya has overhauled its asset financing offering, setting its sights on deploying KES 100 billion to businesses and individuals over the next three years. The bank says the move responds directly to what customers have described as the biggest barrier to growth: slow, bureaucratic lending. Faster Approvals, Fewer Steps The most immediate change is speed. Onboarding to approval now takes 48 hours, down from 10 days. Approval to disbursement follows within 72 hours. The bank also trimmed the number of pre-approval steps from 13 to six, removing the procedural drag that has long frustrated borrowers. These are not…

Kenya’s banks recorded their strongest customer satisfaction scores on record in 2025. Then customers tried to raise a complaint. The Kenya Bankers Association Banking Customer Satisfaction Survey 2025, which drew 40,854 responses — the largest sample in the survey’s history — reveals a striking contradiction: satisfaction with primary banks climbed to 84.6%, yet the share of banks that always resolve complaints within two days fell from 75.4% to 66.5%. One in three customers no longer receives timely, consistent resolution. Mobile banking now ranks first for 60.1% of customers. The industry Net Promoter Score, however, slipped from 44.0 to 42.6, driven…

Safaricom has upgraded its Home Fibre packages, delivering speeds up to 2.5 times faster at no additional cost. Every plan benefits from the boost. Entry-level packages now reach 15 Mbps, mid-tier plans move to 35 Mbps and 80 Mbps, and premium tiers climb to 400 Mbps, enough for households running multiple streams, video calls, and connected devices simultaneously. “As homes become increasingly connected, reliable high-speed internet is no longer a luxury, it is an essential service for modern living. With this upgrade, we aim to provide smooth multi-device streaming, buffer-free video calls, and reliable performance,” Peter Ndegwa, CEO Safaricom. Safaricom…