Business & Economy
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NIFC Certifies 15 Firms Eyeing Sh25.9bn Investment
The Nairobi International Financial Centre (NIFC) has certified 15 new firms, signaling significant interest in Kenya's financial sector and a projected influx of foreign investment. Rock Investment Bank has separately acquired a 60 percent stake in Nabo Capital from Centum Investment Company, becoming the majority shareholder. Vodacom has successfully acquired the Kenyan government's 15% stake in Safaricom following a Court of Appeal ruling that lifted conservatory orders blocking the transaction. Additionally, British beverage maker Diageo has appointed John Musunga as its Africa MD, effective July 1, coinciding with plans to sell its majority stake in East African Breweries Plc (EABL).
LSK Moves to Court to Halt Mandatory Vehicle Inspection Rules
The Law Society of Kenya (LSK) has filed a petition in the High Court seeking to suspend new mandatory motor vehicle inspection regulations that were set to take effect on July 1. Separately, the Kenya Civil Aviation Authority (KCAA) has extended the validity period for aircraft certificates of airworthiness from one year to two years due to a critical shortage of safety inspectors. Meanwhile, Kenyan Parliament is proposing an amendment to the Employment Act to formally recognize remote workers, aligning labor laws with the growing digital economy.
