KRA turns 30: Taxman’s digital shift push pays dividends as revenue collections edge up
From an average of KES122 billion annual collections in mid 1990s, KRA’s tech-powered reforms have seen it collect over KES2.5 trillion in fiscal year 2024/25. KRA Commissioner-General Humphrey Wattanga says plans are underway to further to transform the agency into a premier service entity with...
Kenya’s Kakuzi six-month profit dips to $2.3M on lower tea and avocado global prices
Kakuzi avocado and tea export earnings for the half to June 30th, 2025, negatively affected by lower prices in the firm’s traditional market Europe. Company’s avocado division experienced a decline in half-year profit to KES395 million compared to a half-year profit of KES951 million posted...
Cleantech deals top as startups in Africa secure $2Bn in seven months
African startups under cleantech lead in attracting financing with two massive funding deals sealed by Sun King and d.light. FinTech follows in funding volume reported, while African startups with a focus on big data and analytics are equally gaining momentum. Across July, six acquisitions were...
Tanzania unit fuels Equity Group to $267 million half-year net profit
Equity Group CEO Dr. James Mwangi says regional lender experienced the biggest transformation in Tanzania business, hitting 4% return on assets and 27% return on equity during the six months ended June 30, 2025. Equity’s Tanzania subsidiary’s net profit surged by 75% to $8.5 million...
How nuclear energy is gaining traction across African economies
The International Atomic Energy Agency (IAEA) says Egypt, Kenya, Nigeria and Ghana have set the groundwork for nuclear energy plants. Investments in nuclear will see these countries meet rising electricity demand, diversify energy mix, fortify energy security, and cut emissions. Currently, South Africa is the...
After over 10 years without new case, WHO certifies Kenya free of sleeping sickness
Triumph over sleeping sickness scourge sees Kenya join Benin, Chad, Côte d’Ivoire, Equatorial Guinea, Ghana, Guinea, Rwanda, Togo and Uganda in eradicating the disease. Health authorities in Kenya have not reported any indigenous new cases of sleeping sickness since 2009. Sleeping sickness, which is only...
Diageo’s East African exit: Economic and competitive implications
Diageo is exploring the sale of its 65% stake in East African Breweries Ltd (EABL), valued at up to $2 billion, as part of its strategy to exit African beer markets and focus on high-margin spirits. The potential sale, involving major brands Tusker and Guinness,...
Mozambique buys Kenyan-made HIV drugs, marking key step in Africa’s push to self-sufficiency
Global Fund is procuring Kenyan-made HIV drugs for patients in Mozambique, making it the first time African-manufactured drug (TLD) has been deployed through this channel. In 2023, Kenya-based pharma Universal Corporation Ltd became the first African manufacturer to receive WHO nod to produce tenofovir disoproxil...
Kenya faults Tanzania for undermining regional trade integration
Trade integration across EAC in jeopardy after Kenya accuses Tanzania of watering down the core objective of “regional economic integration”. This follows Dodoma’s move to prohibit non-Tanzanians from operating businesses across 15 segments, a directive that is poised to hit Kenyans hard. Nairobi says Dodoma’s...
M-PESA and PayPal strike deal to redefine Kenya’s digital economy
M-PESA and PayPal’s deal marks a pivotal moment for Kenya’s digital ecosystem comprising over 35 million mobile money users and two million businesses using Safaricom’s mobile money platform. Initiative will enable seamless account linking and fund transfers between M-PESA wallets and PayPal’s global network, opening...
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