Newly appointed National Infrastructure Fund (NIF) CEO James Mworia has backed the listing of an infrastructure development fund on the Nairobi Securities Exchange (NSE), arguing that it would unlock new investment opportunities and provide access to additional financing. Speaking at Africa Capital Week 2026, Mworia said a listed NIF Infrastructure Development Fund could leverage regulations governing Development Real Estate Investment Trusts (D-REITs) to raise funds for infrastructure projects. “One of the solutions I have in mind is we create an NIF Infrastructure Development Fund that is listed on the Nairobi Securities Exchange, which can borrow from the regulations of…
Author: NexbitKE
The High Court has cleared National Bank of Kenya (NBK) to take control of leather manufacturer Zingo Investments’ business and assets in a long-running $5.6 million (Sh733 million) debt dispute. The court ordered Zingo to hand over its premises, management, books, records, keys and other assets to the bank-appointed receiver and manager, Kolluri Venkata Subbaraya Kamasastry. In the ruling, the court also authorised police assistance to enforce the takeover after rejecting Zingo’s bid to halt enforcement pending an appeal. “An order is hereby issued restraining the Plaintiff’s directors, employees, agents, and any other person acting under its authority from interfering…
The gap between what banks operating in Kenya charge on loans and pay on deposits narrowed to a 10-month low of 7.46 percentage points in July as lenders strike a balance between appeasing borrowers and attracting savers. This means the financial institutions are earning lower profits on loans compared to before, with those with lower non-interest income being the most pressured. Central Bank of Kenya (CBK) data shows the spread, which measures the difference between the average lending and deposit rates, fell from 7.53 percentage points in June and 7.86 points in February, when it hit the highest level in…
The International Fund for Agricultural Development (IFAD) and Equity Group have launched a $200 million (Sh25.8 billion) financing agreement for smallholder farmers and rural businesses in East Africa to help them adapt to the effects of climate change. The Africa Rural Climate Adaptation Finance Mechanism (ARCAFIM) is a 12-year private sector-led programme aimed at closing the financing gap for climate adaptation in farming. It comprises $180 million (Sh23.3 billion) of lending capital and $20 million (Sh2.6 billion) of non-financial expertise and training needed to support the investment. According to a statement by IFAD and Equity Group, the loan capital is…
The National Construction Authority (NCA) has appointed Susan Rutto as its new Executive Director in an acting capacity, effective September 4, 2026. Rutto replaces Maurice Akech, whose term ended recently after more than seven-years in the position. She currently serves as the Authority’s General Manager, Registration and Accreditation, a position she has held since June 2020. She previously served as Manager, Registration and Compliance from December 2013. “The National Construction Authority (NCA) wishes to announce the appointment of Qs. Susan C. Rutto as Executive Director/Registrar of Contractors and Secretary to the Board, in an acting capacity, effective 4th September…
Uchumi Supermarket PLC is set to hold a creditors’ and members’ meeting later this month as part of ongoing insolvency proceedings before the High Court of Kenya. The appointed Insolvency Practitioner Owen Koimburi said in a notice that the meeting will be held virtually on Monday, September 21, 2026 at 10 am. Interested parties have been encouraged to register in advance using the link provided in the official notice. “NOTICE IS HEREBY GIVEN pursuant to section 628 of the Insolvency Act No.18 of 2015, Rule 134 and the Third Schedule of the Insolvency Regulations, 2016 that Uchumi Supermarkets PLC…
At least 10 electric vehicle manufacturers, mostly from India and China, are seeking to enter Kenya after their common battery-swap provider launched its network in the country, potentially intensifying competition in the fast-growing e-mobility market. They include China’s Afrina Neopower, QJ-YY, Sprocomm, VMoto and Wylex; India’s BGauss, Motovolt and Odys; Italy’s Piaggio; and Kenya’s Fika Mobility, which has been unable to launch its electric motorcycles because it does not have a battery-swap provider. The firms focus on production of electric motorcycles and three-wheelers (tuk-tuks). The manufacturers rely on open-architecture battery infrastructure and specialise in electric two- and three-wheelers. By using…
8,700 hectares of vegetation have been destroyed by a wildfire that has been raging in the moorlands of Mount Kenya for seven days, the Rhino Ark Charitable Trust has confirmed. The fire is said to have started near Rutundu Lodge in the moorlands last week and spread rapidly due to strong winds and high temperatures. According to the organisation, the fire spread in two directions: towards Marania Forest in the north and south-west towards Chogoria. The organisation confirmed on Monday that the fire in the northern part had been contained the previous day, with efforts still underway to curb…
In 1955, William Martin Jr, Chair of the US Federal Reserve (1951–1970), coined the phrase ‘removing the punch bowl’ in central banking. It describes the responsibilities of central banks to restrain wayward monetary expansion. Kenya’s gluttony dates to 1992, the first multiparty elections held in 26 years. The 2027 playbook is similar. High-stakes power games driven by money set reformists against a severely hobbled government feeding hardliners, protecting their influence and wealth. The brazen wrecking of the economy ignores competent advice. The Central Bank of Kenya(CBK) as the beating heart of the economy takes a beating in the fray,…
The East Africa Law Society (EALS) has called on the Kenyan government to ensure that its crackdown on unlicensed foreign traders is carried out in accordance with Kenyan and East African Community (EAC) laws. EALS said enforcement action against traders from Burundi, Tanzania, Uganda, Rwanda, South Sudan, the Democratic Republic of Congo and other EAC countries should be based on individual conduct and circumstances rather than nationality. “Where a person is operating without a required licence or permit, breaching applicable immigration conditions, evading lawful taxation or otherwise violating Kenyan law, the competent authorities are entitled to take appropriate action,”…
The High Court has temporarily stopped the liquidation of the Kenya Union of Savings and Credit Co-operative Union Limited (KUSCCO), blocking liquidators appointed through a Gazette Notice from taking further action. In a ruling, Lady Justice Rhoda Rutto said the appointed liquidators could not rely on the same act that purported to appoint them to exercise their powers. The case was filed by RUPSA NWDT Sacco Society Limited, which challenged the liquidation of KUSCCO after losing Sh108.8 million following the union’s collapse. Last week, Justice Rutto certified the matter as urgent and directed that the parties proceed with the…
Kenya’s banking sector is set to play a bigger role in financing climate and biodiversity projects under a new five-year partnership aimed at turning more green businesses into investment-ready ventures. The Global Green Growth Institute (GGGI) and the Kenya Bankers Association (KBA) signed a Memorandum of Understanding (MoU) on Thursday to strengthen sustainable finance, green investment and inclusive green growth in Kenya. The partnership aims to bridge a long-standing financing gap in which businesses struggle to find funding for green projects, while lenders say they have no bankable opportunities. “For too long, entrepreneurs have said banks are not lending,…
President William Ruto yesterday commissioned a 109-kilometre electricity transmission line linking Machakos, Konza, Isinya and Namanga. The 132kV line links the areas through 132/33kV substations and enhances the transmission capacity for the national grid. The project is expected to boost power supply to businesses and industries in Machakos, Konza, Kajiado and Namanga as well as the Namanga border crossing with Tanzania. The 15-kilometre Machakos-Konza section was energised in October 2016 while the 94-kilometre Isinya-Namanga section was commissioned in February 2024. The additional capacity will help meet rising electricity demand in southern Kenya, including at Konza Technopolis and along the…
Kenya’s public workforce has crossed the 1 million mark and reached 1.07 million employees, piling pressure on the government’s wage bill as the cost of running the public service continues to rise. New figures contained in the Salaries and Remuneration Commission (SRC) Fourth Quarter Wage Bill Bulletin for the 2025/2026 financial year, show public sector employment grew by 4.6 per cent in 2025, up from 1.023 million workers in 2024 to 1.07 million. This has been driven largely by the increase in employment in key sectors, with education, public administration and defence accounting for the largest share of public…
