veri blog

Kenya has just placed a big bet on keeping the lights on – without blowing up its public balance sheet. On Monday, the finance ministry signed a $311 million agreement with Africa50 , the Morocco-based pan-African infrastructure fund, and PowerGrid Corporation of India to design, finance, build and operate two new high-voltage electricity transmission lines and associated substations. The deal will be structured as a public-private partnership (PPP) . A project company led

Kenya is cashing in its crown jewel. In the biggest privatisation move in nearly 20 years, the government has agreed to sell a 15% stake in Safaricom – East Africa’s most valuable company – to Vodacom/Vodafone for roughly $1.6 billion , cutting the state’s holding from 35% to 20% and handing majority control to the South African group. The deal is priced at KES 34 per share , a hefty premium to recent market levels, and includes an upfront payment of about KES 40.2 billion

Kenya is rewriting its debt story in real time. In the space of a few weeks, Nairobi has: Agreed a $1 billion debt-for-food security swap with the U.S. International Development Finance Corporation (DFC); and Launched a $1.5 billion Chinese-backed highway expansion , with Kenya’s own National Social Security Fund (NSSF) taking equity risk in a 28-year toll concession.() Two very different deals. One goal: create breathing room on the public balance sheet while still funding

When President William Ruto’s government announced a new $1.5 billion highway expansion last week, it was the flags that told the story: Chinese and Kenyan colours flying side by side as officials unveiled plans to rebuild the country’s most important transport corridor. The project will upgrade sections of the road linking Mombasa, Nairobi and western Kenya , a route that carries much of the region’s trade to and from the Indian Ocean. It is also China’s biggest new infrast

When the deal finally closed in October, it marked more than the end of a 30-year era. It was the moment Kestrel Capital – one of Kenya’s most recognisable investment managers and stockbrokers – formally moved from founder ownership to executive control , just as Nairobi’s capital markets are roaring back to life. Mwangi and Ruenji, have fired the starting gun and the new owners have taken over at a rare inflection point: a transformed balance of clients, a turbocharged bonds

On paper, Kenya’s macro story in late 2025 looks surprisingly calm. Inflation is 4.6% , right in the middle of the government’s 2.5–7.5% target range.   The Central Bank of Kenya (CBK)  has cut its policy rate eight meetings in a row, from 13% in early 2024 to 9.25% today, arguing there is still room to ease. The World Bank  this week nudged its 2025 growth forecast up to 4.9% , citing a rebound in construction and still-solid agriculture. Yet scratch the surface and a more c

I’m heading back to Kenya again soon — and honestly, I couldn’t be more excited. The thought of returning doesn’t feel like another...