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Supermarket chain operator Naivas Limited has appointed a non-family CEO for the first time in its 35-year history, marking a shift in leadership for Kenya’s largest retailer that has been opening up to outsiders through stake sales.
The retailer, which last week hit 110 stores with a new outlet at Nairobi’s Gachie Westbay Mall, announced Tuesday that its co-founder and managing director David Kimani, will be stepping down from his role at the end of this month.
A Ugandan importer has sued a Mombasa-based bulk grain handling company, Bulkstream Ltd, demanding unconditional release of its cargo comprising 1,514 tonnes of wheat imported from Ukraine.
Pan Afric Commodities Ltd says it purchased approximately 2,837 tonnes of wheat, which was shipped to the port of Mombasa under a charter party agreement and was subject to a Bill of Lading, which was issued on September 21, 2018.
The Treasury is eyeing a $4.2 billion (Sh540 billion) bonds for expansion of the standard gauge railway (SGR) and Jomo Kenyatta International Airport (JKIA), less than a year after it cancelled a deal with India’s Adani Group.
A Treasury brief seen by the Business Daily shows that it plans to raise $3 billion (Sh387 billion) for the extension of the SGR line from Naivasha to Malaba and $1.2 billion (Sh154.8 billion) for the expansion of the main airport through a securitised bond.
Kenya Power has increased its dividend payout by 42.85 percent to Sh1 per share or a total of Sh1.95 billion in the year ended June 2025 even as its net profit fell 18.66 percent on lower revenues and higher finance costs.
The company has proposed a final dividend of Sh0.8 per share to be paid on or about January 30, 2026 to shareholders who will be on the register as of December 2, 2025.
For many people, home and the workplace are the true testing grounds for personality. Whether extroverted or introverted, individuals quickly discover how much these traits influence their success or struggles in careers and relationships.
In recent years, more Kenyans have become curious about personality types, with many turning to tests to better understand themselves.
The value of unroasted coffee shipped out of Kenya by exporters almost doubled to Sh35.4 billion during the first six months of this year, compared to Sh19.3 billion realised during a similar period in 2024 spelling a boon for farmers in the coming months amid ongoing reforms in the sub-sector.
Data from the Kenya National Bureau of Statistics (KNBS) shows that this year’s spike bucked a sustained falling trend observed since the period between July and December 2023, when the value rose to Sh23.1 billion, up from Sh21.3 billion during the preceding half.
Cabinet Secretary for the National Treasury John Mbadi while speaking in Mombasa set out a bold objective; to achieve an investment grade rating.
A sovereign credit rating is an opinion on the country’s likelihood of defaulting on its loans. An investment grade rating such as BBB means a very low risk of default.
Layer3, one of Africa’s leading technology solutions providers, has successfully delivered the core network component contract for the AfricaConnect3 (AC3) project, executed by the West and Central African Research and Education Network (WACREN). This marks a major milestone in one of the most ambitious infrastructure initiatives in Africa’s research and education landscape.
The AC3 project, funded by the European Union through the AfricaConnect3 program, is being executed by WACREN to build a world-class digital backbone for academic and research institutions across West and Central Africa. Following an international competitive tender, Layer3 was selected to supply and deploy the core networking and support solution in data centers in 10 countries in Africa as well as France, capable of scaling WACREN’s backbone to 400GbE. This included Juniper MX and EX series devices, Out-of-Band terminal servers with 4G LTE capability to ensure resilience; Measurement and Cache servers for enhanced performance monitoring and traffic management, and upgraded routing engines in Lagos, Accra, and London to enable future growth. The project also involved setting up a state-of-the-art Network Operations Centre in Accra, Ghana, equipped with high-performance servers and enterprise-grade power systems to guarantee uninterrupted network operations.
Through this deployment, WACREN has significantly strengthened its digital backbone, positioning National Research and Education Networks across the region to collaborate seamlessly while overcoming long-standing barriers of bandwidth and reliability. The enhanced infrastructure will enable universities, research centres, and innovation hubs to participate more actively in global knowledge exchange and provide a robust foundation for emerging fields such as artificial intelligence, biotechnology, and advanced cloud-based applications.
Speaking on the significance of the project, Omo Oaiya, Chief Strategy Officer of WACREN, remarked: ‘This project, executed by WACREN under the EU’s AfricaConnect3 program and supported by partners like Layer3 and regional telecom operators, represents a pivotal investment in the digital future of African research and education. It strengthens our backbone while ensuring sustainability and reliability for years to come.’
Godwin Michaels, Chief Technology Officer at Layer3, added: ‘Delivering the equipment for the AC3 backbone demonstrates Layer3’s capability to support large-scale, multi-country deployments with precision and excellence. The infrastructure we provided is not only serving immediate needs but also designed to scale up to 400GbE, future-proofing research and education connectivity across Africa.’
As Africa advances toward a knowledge-driven future, Layer3 remains committed to delivering world-class technology solutions that empower institutions, drive innovation, and foster collaboration. The AC3 project exemplifies this mission, reinforcing Layer3’s role as a trusted partner in building Africa’s digital future.
About WACREN
The West and Central African Research and Education Network (WACREN) is a regional body that interconnects National Research and Education Networks across West and Central Africa. With a mission to develop sustainable, high-performance digital infrastructure that fosters academic collaboration and innovation, WACREN is executing the EU-funded AfricaConnect3 project in its region, expanding access to world-class connectivity for research and education communities.
About Layer3
Layer3 is one of Nigeria’s leading cybersecurity and network infrastructure providers, with nearly two decades of experience. The company offers innovative solutions in cloud, connectivity, systems integration, and managed services to enterprises, governments, and global partners across Africa. Its track record of delivering large-scale projects, combined with global OEM partnerships, reinforces its position as the provider of choice for organizations across the continent seeking enterprise-grade solutions for digital transformation.
In a significant push for Nigeria’s food security, the AVPA deal room has connected impact-focused entrepreneurs across the country’s food systems with potential investors for funding opportunities.
The deal room event, which took place recently in Lagos, is organised by AVPA West Africa, a pan-African network of social investors in partnership with the GIZ’s Private Adaptation Investment Bootcamp (PrivABoo), unlocked catalytic capital for climate smart investing in Nigeria and West Africa’s agricultural landscape.
The deal room also fostered meaningful engagement between investors and agribusiness entrepreneurs to obtain feedback on how its framework can be better structured to help agriculture deliver value to the Nigerian economy.
Tochukwu Ezeukwu, regional director at AVPA WA, said capital mobilisation is a crucial pillar of the AVPA mission, noting that the organisation regularly collaborates with discerning partners such as GIZ PrivaBoo to present qualifying deals with high-impact potential to investors for investment consideration.
‘Of the three businesses presented to five investors, two have received the green light for early investor talks with three of the investors in the room. The expectation is that over the next year, one of them will reach funding,’ he said.
Three companies – Kitovu, Energy Assured and Green Sahara pitched to various investors in the deal room. Kitovu is an agritech company that helps smallholder farmers build and deploy climate smart post-harvest infrastructures. Energy Assured is a business that provides solar-powered pumps to farmers for irrigation.
Green Sahara is an organisation that promotes sustainable farming practices among farmers and is involved in the production of clean cooking stoves and restoring degraded lands.
Grace Nwigwe, technical advisor, GIZ PrivABoo, said that climate change is a growing concern globally, noting that it is integral to the work her organisation does.
‘Our goal with the Private Adaptation Bootcamp PrvABoo was to strengthen private sector actors and to mobilise private sector finance for private sector actors in the space,’ she said.
‘We are grateful to the AVPA for creating a platform for exactly that. Participating businesses have had the opportunity to showcase their adaptation products and services to investors who are providing the needed inputs,’ she noted.
‘We believe that this kind of collaboration in the private sector is key to building resilience to climate impacts across society,’ she added.
Speaking also, Chinedu Allinson, head, membership and partnerships, AVPA WA, said, ‘We believe partnerships are the cornerstone of mobilising capital for impact.’
‘Our collaboration with GIZ on PrviABoo demonstrates how aligning missions can create pathways for private sector actors to access the finance they need, while giving investors a pipeline of solutions with real potential to build climate resilience.’
Global food prices dipped in September as declines in sugar and dairy offset record-high meat prices, according to the United Nations’ Food and Agriculture Organisation (FAO).
The FAO food price index, which tracks monthly changes in the international prices of a set of globally traded food commodities, averaged 128.8 points in September, slightly lower than August level of 129.7 points.
The September value represents a 3.4 percent increase from a year ago. However, it was nearly 20 percent down from a record level in March 2022 following Russia’s full-scale invasion of Ukraine.
Sugar prices, which had climbed to a two-year peak in July before stabilising in August, was curbed in September by a 4.1 percent drop.
It averaged 99.4 points in the period, its lowest since March 2021.
‘The drop was driven by higher-than-expected sugar production in Brazil and favourable harvest prospects in India and Thailand, following ample monsoon rains and expanded plantings,’ the report said.
The fall in sugar prices reflected an improving supply outlook, with higher than expected production in Brazil and favourable harvest prospects in India and Thailand.
According to the FAO, dairy price index slipped 2.6 percent month on month to 148.3 points, driven in turn by a sharp decline in butter prices amid increased production prospects in Oceania.
It reported that milk powder quotations decreased mainly due to softer demand from key importers and firmer export competition.
Cereal benchmark saw a 0.6 percent decline from August, averaging 105 points, with wheat prices dropping for a third straight month due to large harvests and subdued international demand.
‘International wheat prices decreased for the third consecutive month amid subdued international demand and confirmation of large harvests in key producing countries,’ FAO noted.
Maize prices also decreased, partly pressured by a temporary suspension of export taxes in Argentina.
The report notes that rice index also demonstrated a monthly fall as reduced orders by buyers in the Philippines and Africa weighed.
Similarly, vegetable oil prices fell by 0.7 percent in the period to 167.9 points as lower palm and soybean oil quotations offset increases for sunflower and rapeseed oil.
In contrast, FAO’s meat price indicator rose by 0.7 percent month on month, to a new record high of 127.8 points as beef and sheep meat quotations rose.
‘Bovine meat prices climbed to an all-time high, supported by strong demand in the United States of America, where limited domestic supplies and favourable price differential continued to encourage imports.’
Beef prices also reached a new peak, supported by strong demand in the United States. amid limited domestic supply.
In a separate report, the FAO increased its forecast for global cereal production in 2025 to 2.971 billion metric tons from a former projection of 2.961 billion tons.
The latest outlook was up by 3.8 percent from 2024 output, marking the largest annual increase since 2013.
The upward revision was attributed to higher production prospects for wheat, maize and rice.