Business & Economy
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Google & AfCFTA Launch AI Training as Experts Warn of Skills Gap
Google and the African Continental Free Trade Area (AfCFTA) Secretariat have launched a program to train 7,500 small and medium-sized enterprises (SMEs) across Africa in AI and digital trade skills. This initiative, powered by the Google Hustle Academy, aims to bridge the digital skills gap. Complementing this effort, Google's CEO Sundar Pichai advises users not to "blindly trust" AI tools, acknowledging their susceptibility to errors. In a related warning, Frank Blackmore, lead economist at KPMG, stated that a significant skills gap and limited historical data could impede Africa’s ability to fully leverage Artificial Intelligence for economic growth in 2026. Blackmore urges urgent collaboration between the public and private sectors to address these challenges.
KDC Injects Sh500mn into Githunguri Dairy as Corteva Launches New Fungicide for Floriculture
The Kenya Development Corporation (KDC) has injected Sh500 million into Githunguri Dairy Cooperative Society (GDC) to boost financing for MSMEs. This funding is part of the World Bank-backed SAFER Programme and aims to expand access to affordable credit. In another boost to the agricultural sector, Corteva Agriscience Kenya has launched Verpixo® 100 SC, a new fungicide to support Kenya's floriculture sector. This product helps rose growers combat powdery mildew and botrytis, diseases that threaten exports. These developments come as Kenya's agricultural sector is advocating for a 10-year stable tax framework to enhance competitiveness and encourage long-term investment, citing inconsistent fiscal policies as a hindrance to growth.
CAK Clears Takeover, MCB Leads $400mn Facility, and CBK Prepares for Crypto Licensing
The Competition Authority of Kenya (CAK) has approved the acquisition of Mace Consult Holdings Limited by Consult Bidco Limited. The authority stated the deal complies with merger regulations and will not negatively impact competition. In the financial sector, Mauritius Commercial Bank (MCB) has successfully arranged and closed a $400 million syndicated facility for Sea World Energy Holdings Limited, consolidating Karpowership Group's operations across Africa. Meanwhile, the Central Bank of Kenya (CBK) announced that the licensing of Virtual Asset Service Providers (VASPs) will begin only after new regulations under the Virtual Assets Service Providers Act, 2025 are issued. This follows the act's gazetting on October 21, which brings Kenya's digital asset market under statutory regulation.
