Category: Economy&Finance
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NAIROBI, Kenya, Apr 15 — Tullow Oil Plc has signed a major agreement to divest its entire Kenyan operations in a move that marks the company’s complete exit from the East African country. The deal, valued at a minimum of $120 million, was reached between Tullow’s wholly-owned subsidiary, Tullow Overseas Holdings BV, and Gulf Energy…
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NAIROBI, Kenya Apr 15 – Tullow Oil plc has signed a heads of terms agreement to sell its entire Kenyan portfolio to Gulf Energy Ltd for at least $120 million. The transaction, executed through its subsidiary Tullow Overseas Holdings BV, transfers Tullow Kenya BV—holder of all Tullow’s working interests in the country. The deal includes…
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NAIROBI, Kenya, April 14- The Central Bank of Kenya (CBK) has approved the acquisition of National Bank of Kenya Limited (NBK) by Access Bank PLC (Access) after the deal met regulatory requirements. The approval comes a few months after the National Treasury and Economic Planning Cabinet Secretary on April 10, 2025, pursuant to Section 9…
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The Kenya Maritime Authority (KMA) has given a seven-day ultimatum for the removal and disposal of a grounded barge off the Nyali coast in Mombasa. In a public notice dated August 11, 2025, KMA Director General Omae Nyarandi said the vessel, identified as COMARCO 3652, poses significant risks to the marine environment and navigation safety.…
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The price of maize, Kenya’s staple food, has surged to its highest level in nearly two years, driven by a significant drop in local production, delayed harvests, and mounting pressure from animal feed manufacturers. Despite the government’s intervention to ease pressure on the grain market through duty-free imports, the supply shortage continues to push maize…
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The Kenya Revenue Authority (KRA) has reaffirmed its commitment to strengthening partnerships with business communities across the country, following a high-level engagement today between the KRA Board and the Eastleigh Business District Association (EBDA). The strategic meeting, led by KRA Board Chairman Hon. Ndiritu Muriithi, brought together senior KRA officials and representatives of EBDA to…
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The European Investment Bank’s financial backing for IHS Group’s first green affordable housing fund in Kenya is yielding results. The bank’s development arm, EIB Global, had committed €21.5 million (3.2 billion Kenyan shillings) in equity financing to the IHS Kenya Green Housing Fund for the construction and acquisition of energy-efficient and affordable housing in Kenya.…
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Kenya’s problems are not mysterious; they are structural choices that can be reversed with consistent policy, political will, and public engagement. What follows is a comprehensive, practical, and evidence-informed argument for how Kenya can be moved toward first-world outcomes — rapid job creation, reliable services, and accountable governance-if leaders implement focused reforms. Start by reframing…
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This week, Nairobi will host one of the most anticipated literary highlights of the year: the African Book Fair, and among the notable mentions will be Making It Big: Lessons from a Life in Business, the memoir of Nigerian billionaire, entrepreneur, and philanthropist Femi Otedola, set to be launched on August 18, 2025. A rare…
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Equity Group’s Pan-African growth strategy is paying off in a big way, with regional subsidiaries now contributing an impressive 46% of Group profits and 48% of assets, a strong testament to the bank’s continental ambitions. The Democratic Republic of Congo (DRC), Uganda, and Tanzania have emerged as growth engines, while Kenya continues to anchor the…