Business & Economy
Featured News Stories
Nairobi Becomes Hub for Health Tech HQ, Urban Innovation Fund, and Digital Banking Award
Global medical technologies company Terumo Blood and Cell Technologies has opened its Africa headquarters and regional training centre in Nairobi to revolutionize blood management on the continent. In another initiative launched in Nairobi, the Million Lives Collective and the Judith Neilson Foundation have started the African Cities Innovation Fund, a grant initiative to boost urban innovation. This new fund aims to support collaborative solutions to urban challenges across African cities. Additionally, Equity Group Holdings has won the 2025 CIO100 Africa Award in the PlusOne Banking Sector category. The award, presented at a symposium in Naivasha, recognizes the group's leadership in financial technology and digital transformation.
Govt Sells Sh244bn Safaricom Stake Amidst Private Sector Recovery and a Major Tax Evasion Ruling
The Kenyan government sold a 15 percent stake in Safaricom, raising Sh244.5 billion for infrastructure investments and increasing Vodacom Group’s control over Safaricom to 55 percent. This transaction occurred as Kenya's private sector experienced its strongest recovery in over five years in November, driven by a significant increase in new business and consumer spending. In a separate financial development, a High Court decision upheld a significant portion of a Sh773 million tax assessment against a construction company. This ruling is seen as bolstering Kenya's fight against "missing trader" tax evasion schemes.
