Technology & Innovation3 stories
Family Bank has successfully completed its private placement of ordinary shares, raising KES 8.004 billion in an oversubscribed round that exceeded its KES 6.090 billion target by 131%. In a separate deal, the Government of Kenya plans to sell a 15% stake in Safaricom PLC to Vodafone Kenya, which could generate between KES 240.5 billion and KES 244.5 billion. This divestment is aimed at funding the establishment of the National Infrastructure Fund and the Sovereign Wealth Fund. Additionally, global insurtech firm Bolttech has acquired mTek, a Nairobi-based digital insurance platform. The acquisition will expand Bolttech's presence in East Africa and strengthen its embedded insurance capabilities.
