Browsing: Investing in Kenya

• Norfund invested US$32 million in Kenya in 2022 and plans to further increase financing to local enterprises seeking growth support in 2023
• The fund said it would continue to invest in the region, focusing on profitable enterprises with the potential to contribute to economic and social development
• Norfund is owned and funded by the Norwegian Government and has a portfolio of US$372 million invested in Kenya across various sectors of the economy

The Norwegian Investment Fund (Norfund) invested US$32 million in Kenya in 2022 and plans to further increase financing to local enterprises seeking growth support in 2023.

On February 9, 2023, Norfund said it would continue to invest in the region, focusing on profitable enterprises with the potential to contribute to economic and social development.

Norfund helps build sustainable businesses that would not otherwise be developed because of the high risks involved by providing equity and other risk capital …

• New data now shows that CIC Asset Management has retained its leading position in unit trusts in Kenya, with a 40.46 per cent market share
• Assets under CIC’s management reached KSh 56.9 billion as of March 2022, which is a 1.14 per cent rise compared to KSh 56.2 billion as of December 2021
• CIC Asset Management Managing Director Stanley Mutuku noted that the economy was on a growth trajectory, which is reflected in the performance

Kenya’s CIC Asset Management has retained its leading position in unit trusts in Kenya, with a 40.46 per cent market share.

Data by the Capital Markets Authority shows that the CIC unit trust scheme market share in the second quarter of 2022 was the largest unit trust scheme in the country.

Assets under CIC’s management reached KSh 56.9 billion as of March 2022, which is a 1.14 per cent rise compared to KSh 56.2 billion …

President Uhuru Kenyatta, who was first elected in 2013, will retire after serving his two constitutional terms. Four presidential candidates were cleared by the Independent, Electoral and Boundaries Commission (IEBC) in the State House race.

They are Deputy President William Ruto of the United Democratic Alliance, Raila Odinga of the Azimio la Umoja One Kenya Coalition Party, David Mwaure (Agano Party) and George Wajackpoyah (Roots Party).

The outgoing head of state has endorsed Raila as his preferred successor to the chagrin of his deputy, who has accused him of interfering in the 2022 succession politics.

The central Bank of Kenya, in its July 2022 Monetary Policy Committee Market Perceptions Survey, notes that at the Nairobi Securities Exchange (NSE), NASI, NSE 25 and NSE 20 share price indices increased by 4.0 per cent, 4.1 per cent and 0.4 per cent, respectively, during the week ending July 28.…

• Amitruck has secured $4m in a seed funding round that had the participation of investors from Africa, Asia, Europe, the Middle East, and the United States
• The company will use the new funding to expand its presence across Africa and hire new talent
• Better Tomorrow Ventures (BTV), a San Francisco-based venture capital firm that targets early-stage startups, led the funding

Amitruck receives funding

Amitruck receives funding of around $4m in a seed funding round that had the participation of investors from Africa, Asia, Europe, the Middle East, and the United States.

Better Tomorrow Ventures (BTV), a San Francisco-based venture capital firm that targets early-stage startups, led the funding.

Also in the round were supply chain and mobility venture capital Dynamo Ventures, an investor to Berlin-based Digital Freight Forwarding unicorn, Sennder GmbH.

Other investors included Rackhouse Ventures, founded by Kevin Novak, one of the early members of Uber Freight; Flexport …

Centum Investment subsidiary Vipingo Development Limited says up to 1,000 coastal residents will get employment in a nuts processing factory currently under construction at its manufacturing hub in Vipingo, Kilifi County in Kenya.

According to the firm, civil works for the Sh1 Billion factory have been completed and erection of the prefabricated godowns is ongoing and set for completion by end of the year.

The project is being set up by a consortium of established international investors in the food processing and value addition sector who have acquired development rights from VDL.

Ken Mbae, Managing Director of Vipingo Development Limited, said the use of modular construction technology means the project will be operational by quarter one of 2022 and have an immediate impact on the economy of Kilifi County and beyond.

Vipingo Development Limited is a fully owned subsidiary of Centum Investment PLC and is behind the transformation of the …

For over a century, Kenya and the United Kingdom have enjoyed strong ties hinged on trust, enhanced cooperation and mutual benefit across key sectors, among them trade, tourism, security, health and education. 

The UK views Kenya as a strategic partner due to her wealth of agricultural materials, booming services sector and for being a gateway to other markets in the East African community. It has therefore over the decades invested in growing Kenya to become the region’s economic powerhouse. Indeed UK remains one of the largest foreign investors in Kenya with a portfolio approximated at £2.7 billion. More than 200 British companies have set up shop in Kenya opening up the country to increased employment opportunities and economic growth. 

Kenya on the other hand has found a key export market in the UK for its products, among them tea, coffee, flowers and other horticultural produce. For millions of  farmers …

2020 US Elections

With bated breath, the world awaits the verdict of the winner of the U.S presidential elections. Will it be the incumbent President Donald Trump or his running mate former vice president Joe Biden? As the clock ticks, the hour of the announcement of the results draws nigh and the suspense continues to mount, for both Americans and the world at large. The anticipated results will have a global ripple effect, not only dictating the future of America but of the international political landscape as well.

2020 US Elections

Kenya has enjoyed cordial diplomatic relations with the United States, in tandem maintaining a solid partnership, that has endured since the country’s independence. Both countries have worked closely together, over the years on many initiatives, such as counterterrorism, boosting healthcare, strengthening the agricultural sector and supporting education. Kenya is recognized as an economic powerhouse, in the continent and is …