Author: Kevin Odero

Airtel Africa has more than doubled its full-year net profit, propelled by a dramatic recovery in the Nigerian naira and record customer additions across its 14-country market on the continent, underscoring the telco’s sensitivity to currency swings even as its underlying operating momentum strengthens. The London and Lagos-listed group on Monday posted net profit after tax of $813 million for the financial year ended 31 March 2026, up 147.4 per cent from $328 million a year earlier. Basic earnings per share surged to 18.6 cents from 6.0 cents. The headline figure was strikingly boosted by a sharp turn in currency…

AI economy in  Africa is fast evolving. Fresh data shows that while Nigerian and Kenyan firms are busy layering AI onto fintech or logistics platforms, Tunisia and Cameroon are showing greater concentration of AI businesses. From agriculture to health, Africa’s AI ecosystem is shifting from merely adopting foreign technology to building its own. Currently, there are nearly 300 AI businesses operating in different sectors of the economy in Africa. The narrative surrounding artificial intelligence (AI) in Africa has long been dominated by discussions of potential, of leapfrogging, and of the risk of the continent being left behind. However, a new…

Telco’s taps Get-Phone Ltd to deploy 100,000 smartphones by December. The plan will see subscribers make a small upfront deposit, followed by regular repayments through Hormuud’s EVC Plus mobile money platform. Eligibility is determined using Hormuud’s telecom-based credit scoring system, which assesses how long a customer has used their SIM card and their mobile money spending patterns. Based on this, customers are placed into risk tiers and offered an appropriate device and payment plan. Somalia’s telco and mobile money provider Hormuud Telecom has entered into a partnership with Mogadishu-based Get-Phone, to roll out a smartphone financing programme in Central and…

Kaleidofin, IDH Farmfit Fund and Apollo Agriculture announce landmark local currency transaction to strengthen smallholder farmer finance in Kenya. The transaction is expected to serve as a blueprint for similar structures across emerging markets, demonstrating how technology-enabled infrastructure and blended finance can expand access to capital for underserved borrowers while creating investable opportunities for institutional investors. Fintech platform, Kaleidofin, has closed Kenya’s first private-sector local currency securitisation in the smallholder agriculture sector, in partnership with agri-finance company Apollo Agriculture and with investment from the IDH Farmfit Fund, a blended finance impact fund, marking a significant step in developing institutional capital…

Green energy push, state-backed construction projects, and a recovery in logistics saw Kenya’s economy grow by 4.6% in 2025. Kenya solidified its position as a continental leader in renewables with green energy accounting for 88.9% of domestic generation. After slight dip in 2024, construction sector rebounded sharply in 2025, growing by 6.8% with cement use rising by 3%. While Kenya’s growth held steady at 4.6 per cent last year, the 2026 Economic Survey reveals that the East African country’s economy underwent a structural shift driven by clean-energy growth, government-backed housing push, and a recovery in regional logistics business. The Kenya…

Students in Covenant University (Nigeria), USIU-Africa in Kenya and the University of Cape Town (South Africa) are working with U.S.-based Interledger Foundation to build open financial systems that solve today’s interoperability challenges of payment systems. Tech students from Nigeria, Kenya and South African universities have been drawn into a select pool of programs that are geared at building the next generation of payments leaders, who understand where today’s financial systems fall short and how to build something better with open finance. In an update on Monday, the Interledger Foundation (ILF), an organization building and advocating for an interoperable payments network,…

Steep rise in global oil market prices has seen Kenya announce steepest monthly increase in years, with petrol and diesel increasing by KSh28 and KSh40 a litre. Kerosene prices remain unchanged. Kenyan consumers and businesses are bracing for a severe economic jolt after the Energy and Petroleum Regulatory Authority (EPRA) announced maximum retail petroleum prices that will see super petrol rise by KShs 28.69 per litre and diesel by a staggering KShs 40.30 per litre effective 15th April 2026 through 14th May 2026. In what ranks as one of the steepest monthly hikes in recent memory, the new prices reflect…

Dangote Refinery’s transaction is poised to have cross-listings in five African exchanges, setting a template for continental capital market integration. Success hinges on transparent pricing, currency stability, and regulatory execution. The IPO would fund capacity expansion to 1.4m bpd, challenging European and Middle Eastern refiners in Africa’s fuels market. Dangote Refinery is mulling a grand undertaking by raising $5 billion through a Pan-African Initial Public Offering (IPO), a deal that is poised to raise the bar for capital markets across the continent. Analysist observe that the initiative is set to involve at least six stock exchanges across Africa, possibly involving…

Even as Kenya’s telecoms industry recorded 4.07 million new smartphone subscribers, cyber threats continue to rise, with vulnerabilities across systems accounting for 96% of all incidences, putting at risk the country’s cash lite economy. Telecoms industry watchdog says 5G users consumed 46.4GB per user, which is three times more that of 4G, users even though coverage remains limited, giving telecoms an opportunity to cash in. The latest Oct-Dec report shows that smartphones outnumber feature phone users by 19 million units, pushing Kenya’s telecom providers closer to high-margin data and mobile service revenue streams. Cyber threats continued to put Kenya’s increasingly…

Policymakers in East Africa’s largest economy have left the benchmark lending rate unchanged at 8.75% as a cautionary measure to counter potential fallout from the ongoing U.S. and Israel strikes in Iran. CBK’s decision comes amid a two-week ceasefire announced this week even as the military attack on Iran crossed into its second month, leaving global prices spiraling and markets on edge. Kenya’s inflation stood at 4.4% in March 2026, still below the 5% midpoint of the CBK’s target range of 2.5–7.5%. The Central Bank of Kenya (CBK) has slammed the breaks on easing the benchmark Central Bank Rate (CBR),…