Author: Kevin Odero

Economies in Africa are bracing for what could be the most powerful impact of El Niño weather cycle in decades running through February 2027. Authorities expect economic fallout due to devastating floods and extreme drought in some countries. The World Meteorological Organization (WMO) has issued its most unequivocal forecast for a weather phenomenon on record, warning that El Niño is strengthening so rapidly that it is being “super-sized before our eyes” and will persist with near certainty through February 2027. With the likelihood of the event continuing for the next five months placed at close to 100 per cent, the…

Mobile-first strategy and cloud gaming investments poised to propel continent’s video gaming market revenues to $4.1 billion by 2031, a new industry survey shows. Smartphones generated 61.15% of Africa’s gaming market revenue in 2025, a share analysts expect to sustain through the forecast period. Smartphone shipments rose 6% year-on-year to 19.4 million units in the first quarter of 2025, with North Africa recording 34% growth rate. Africa’s gaming market is entering a phase of rapid expansion, with revenues projected to reach $4.10 billion by 2031, according to industry analysis. The continent’s gaming market, valued at $2.04 billion in 2025, is…

Ervebo vaccine, a jab proven against the Zaire Ebola strain, will be tested in Phase Three trial as the latest outbreak claims nearly 2,500 lives in DRC. Africa CDC warns true scale of epidemic may be triple official figures, with roughly one life lost every 30 minutes. Health authorities in the Democratic Republic of the Congo (DRC) are set to administer 70,000 doses of the Ebola vaccine Ervebo to combat the country’s deadliest-ever outbreak of the viral haemorrhagic fever, in an unprecedented deployment that doubles as a large-scale clinical trial. The move comes as the Bundibugyo virus disease outbreak, declared…

Private sector players expect modest economic expansion in 2026, but the Middle East conflict and rising fuel costs cloud outlook. Central Bank July survey reveals hiring to remain flat as firms turn to automation and digitisation. Kenya’s private sector has expressed sustained optimism about the country’s economic prospects over the next 12 months, even as rising fuel prices, geopolitical tensions and high operating costs continue to pose significant headwinds, according to the Central Bank of Kenya’s July 2026 Market Perceptions Survey. The survey, which captured views from 36 commercial banks, 13 microfinance banks and 200 non-bank private sector firms, found…

Absa Bank Kenya’s earnings decline mark the first half-year profit dip since the Pan-African lender’s peak in 2025, reflecting the persistent pressure of the Central Bank of Kenya’s rate-cutting cycle on asset yields. The bank reported total revenue of KSh29.3 billion for the half-year, supported by balance sheet growth and disciplined cost-of-funds management. Net interest income stood at KSh21.1 billion, while non-interest income totalled KSh8.2 billion. Absa Bank Kenya has reported a 10 per cent decline in half-year profit after tax to KSh10.5 billion for the period ended June 30, 2026, as the lender grappled with the impact of lower…

Family business, which constitutes the backbone of the continent’s enterprise faces governance gaps as statistics show that only 30% of enterprises survive to second generation. Only a mere 3% survive beyond the fourth Africa’s family-owned businesses, which form the bedrock of private-sector employment and wealth creation across the continent, are confronting a succession crisis that threatens to erode billions of dollars in enterprise value as founders in their sunset years prepare to hand over the reins to an often-unprepared next generation. In Kenya, a coalition of four institutions including Strathmore Business School, Standard Chartered, ALN and the Association of Family…

While Diageo’s global profit fell 27.2% to $3.16 billion in the fiscal year ended June 30, dragged down by restructuring charges and softness in markets including the U.S., Africa, which is home to EABL, delivered the region’s strongest organic growth. East African Breweries Limited (EABL) has reported a 49 per cent increase in net profit to KSh18.2 billion (about $1.12 billion) in the fiscal year ending 30 June 2026 despite a turbulent economic environment marked by currency volatility, geopolitical disruptions, and shifting consumer habits. The results, announced Thursday in Nairobi, highlight the resilience of Africa’s beverage alcohol market, which served…

Ahead of Nedbank takeover, NAirobi-based NCBA Group has reported 40% YoY surge in profitability from non-banking subsidiaries, including, investment banking, leasing, bancassurance and insurance, which collectively delivered $8.5 million (KSh1.1 billion) in profit. Nairobi-headquartered NCBA Group’s half-year results, released on Wednesday, reveal a lender that has not only weathered regional economic turbulence but is actively reshaping its earnings base ahead of a transformative change in ownership. Profit after tax rose by 12.2 per cent to Sh12.4 billion (approximately $96 million) for the six months ended June 2026, with operating income climbing 15.1 per cent to Sh40.7 billion. But beyond the…

A strategic entry into Kenya marks DP World’s ninth active African market, joining a roster that includes Algeria, Angola, Egypt, Mozambique, Rwanda, Senegal, Somaliland and Tanzania. DP World’s sprawling continental network of interests is supported by huge financial backing. The company has reportedly invested close to $3 billion in Africa to date, with plans to commit another $3 billion to $4 billion into new port corridors and logistics infrastructure over the next few years. Port logistics giant DP World has announced yet another huge investment in Africa, unveiling the development of a 222-hectare special economic zone just 20 kilometres from…

Transaction brings together Agusto & Co.’s Pan-African market expertise and S&P Global Ratings’ global ratings experience to support the development of African markets. Partnership deepens and strengthens S&P Global Ratings’ presence in Africa’s domestic credit markets. S&P Global has agreed to acquire a majority stake in Agusto & Company Limited, a Pan-African credit rating agency with operations across Nigeria, Kenya, Ghana and Rwanda, in a move that significantly expands the global ratings giant’s presence in Africa’s rapidly growing domestic debt markets. The transaction, announced on Tuesday, comes at a pivotal moment for African credit markets. African governments and regional institutions…