Adonijah Ndege

Kenya

Senior Reporter - East Africa at TechCabal

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Articles

Roam and M-KOPA top Kenyan firms on FT’s fastest-growing companies

1 day ago | techcabal.com | Adonijah Ndege

Three Kenyan startups—Roam Electric AB, M-KOPA Holdings Ltd, and Victory Farms Ltd—have been named among Africa’s fastest-growing companies in the latest ranking by the Financial Times and Statista, a list dominated by South African and Nigerian firms. The three startups were among 11 Kenyan companies featured in the 2025 FT Africa Fastest Growing Companies list, which evaluated revenue growth between 2020 and 2023 across 130 private and public businesses on the continent.
Kenyan MP seeks ban on cashless-only payments under $775

2 days ago | techcabal.com | Adonijah Ndege

Kenya may soon outlaw cashless-only transactions for everyday purchases, under a proposed law that would make it mandatory for businesses to also accept physical currency for payments below Ksh100,000 ($775). The Central Bank of Kenya (Amendment) Bill, 2025, sponsored by Suba South Member of Parliament Caroli Omondi, would make it illegal for businesses operating in physical locations to reject cash for transactions under $775.
Access Bank, ABC top five lenders risking CBK penalties for raising loan rates

3 days ago | techcabal.com | Adonijah Ndege

Access Bank Kenya and ABC Bank top the list of commercial banks risking penalties from the Central Bank of Kenya (CBK) for raising lending rates despite warnings from regulators to align loan pricing with benchmark rate cuts. The two banks recorded the steepest average interest rates among the five commercial lenders that increased interest rates in March.
Safaricom profit jumps 11% to $540mn as Ethiopian unit losses fall

6 days ago | techcabal.com | Adonijah Ndege

Safaricom grew its 2024 full-year profit by 11% to $540 million (KES 69.8 billion), lifted by easing losses in Ethiopia and steady growth in its mobile data and mobile money services at home. The results mark a return to profit for Kenya’s biggest telecoms operator after two years of earnings pressure linked to its costly push into Ethiopia.
Airtel Money plans 2026 IPO in push against M-Pesa, MoMo

1 week ago | techcabal.com | Adonijah Ndege

Airtel Africa plans to list its mobile money unit, Airtel Money, in the first half of 2026 as the telecoms giant seeks to capitalise on the growing demand for digital payment services across the continent. On Thursday, Airtel confirmed the listing plan amid growing investor appetite for Africa’s fintech sector, particularly mobile payment platforms that offer millions of unbanked users access to transactions, credit, and remittances.
Why Safaricom is spending $309mn annually to future-proof M-Pesa

1 week ago | techcabal.com | Adonijah Ndege

By any measure, M-Pesa is a success story. It is one of Africa’s most consequential financial innovations in the last two decades. The mobile money platform, launched by Safaricom in 2007, now processes over 21 million transactions per day and touches nearly every facet of Kenyan life, from taxi fares to school fees to utility bills to small business payrolls. But scale comes with its challenges.
Kenyan banks reject Central Bank's new loan pricing model

2 weeks ago | techcabal.com | Adonijah Ndege

Kenyan commercial banks have rejected a proposal by the Central Bank of Kenya (CBK) to introduce a new loan pricing model that would use the Central Bank Rate (CBR) as the benchmark for pricing credit, paired with a lending premium known as “K”. Instead, they are backing the interbank rate— the rate at which banks lend to one another—as a more market-sensitive benchmark.
Kenyan court declares salary gaps in similar roles illegal

2 weeks ago | techcabal.com | Adonijah Ndege

Kenya’s Employment and Labour Court has declared that paying workers different salaries for the same role is unlawful, in a ruling that could have far-reaching implications for tech startups and SMEs. The case stemmed from a complaint by Tom Oduor, a former manager at Dawa Life Sciences, who alleged he was paid less than colleagues performing the same role.
South Africa drops controversial VAT hike, leaving $4 billion budget gap

3 weeks ago | techcabal.com | Adonijah Ndege

South Africa has withdrawn a controversial proposal to raise value-added tax (VAT) following pressure from political parties and civil society groups. The National Treasury had proposed a 1% VAT increase over two years to plug a $4.02 billion (R75 billion) budget deficit. In a statement on Thursday, the National Treasury said the decision followed consultation with major political parties and parliamentary committees.
Kenya to scrap risk-based loan pricing to lower interest rates

3 weeks ago | techcabal.com | Adonijah Ndege

The Central Bank of Kenya (CBK) has proposed scrapping the risk-based credit pricing model in favor of pegging lending rates to its benchmark policy rate, a major shift aimed at lowering borrowing costs and improving access to credit for households and businesses. The decision follows frustration within the CBK over the to lower interest rates despite multiple reductions in the benchmark lending rate since October 2024.