Gulf Energy E&P BV has acquired an onshore oil drilling rig valued at over Sh2 billion ($15 million) for the Lokichar oil project, aiming for first oil production by the end of this year. The GW70 rig, secured from Great Wall Drilling Company (GWDC), is expected to arrive in Kenya by next month.

• The GW70 onshore oil rig was acquired under a long-term lease arrangement.
• Gulf Energy Chairman Francis Njogu stated the company has a contractual agreement with GWDC to deliver, commission, and operate the rig, including skills transfer to local personnel.
• A high-level technical delegation from the Government of Kenya and the Turkana County Government recently inspected the rig in Abu Dhabi, with Gulf Energy already making strategic investments totaling $6 billion ahead of parliamentary ratification of its Field Development Plan (FDP).

PwC is overseeing the sale of clean-energy firm KOKO Networks Limited's assets as part of a rescue plan after the company entered administration. The move aims to salvage the business, which faltered after failing to secure regulatory authorization for its carbon credit export business.

• The deadline for Expressions of Interest (EOIs) is February 26, 2026, by 5PM East African Time.

• Joint administrators George Weru and Muniu Thoithi are inviting investors to acquire KOKO as a going concern or purchase specific assets.

• Key assets for sale include KOKO's nationwide bioethanol fuel distribution network, proprietary software, intellectual property, motor vehicles, and office equipment, including its KOKO Points smart fuel dispensing machines.

The Kenya Pipeline Company (KPC) initial public offering (IPO) has been extended by three days to February 24, 2026, as the state-owned firm struggles to reach its Sh106.3 billion sales target due to low uptake among high-net worth investors.

• The Capital Markets Authority (CMA) approved the extension after only 20 percent, or approximately Sh23 billion, of the offer had been sold by Tuesday.
• The Privatization Authority stated the extension aims for broader participation as the government seeks to raise at least Sh53.1 billion, representing 50 percent of the offer shares, for the IPO to proceed.
• The sale of a 65 percent stake in KPC is part of the Treasury's drive to divest from State companies, with shares priced at Sh9 each and scheduled to trade on the Nairobi bourse from March 9.