Category: Business Daily

Kenya wants the World Bank to quicken its disbursement of a Sh96.7 billion ($750 million) loan even as it is caught in a rush to meet key performance targets allowing for the release of the funds.

The National Treasury is hoping to receive the funds –which have been delayed– earlier than March 2026, the same time when the multilateral lender has indicated it will make the disbursement.

Kenya has failed to meet 11 key conditions to enable the release of new financing from the Washington DC development-focused lender, resulting in the freeze since the 2024/25 fiscal year which ended in June.

‘We still expect about $750 million from the World Bank’s DPO seven (a type of financing that supports a country’s policy and institutional reforms) and we are still concluding discussions on the targets to be met,’ Treasury Cabinet Secretary John Mbadi said on Thursday.

‘The World Bank is talking about March, but we have told them that we may need the money earlier, so we are trying to fast track the funding.’

Last month, the lender listed seven laws and four policy reforms it wants implemented before it can release the funds.

The World Bank wanted Kenya to amend its Competition Act to strengthen regulations that will control the operations of firms with dominant market shares.

It also wants Kenya to allow refugees to register for mobile telephony services and M-Pesa and enact policies that ease urban traffic congestion including pushing city dwellers to use rail transportation.

The lender also wants a policy on the issuance of sovereign sustainability bonds and a full use of e-procurement to curb graft in the purchase of goods and services in government.

All government bank accounts must also be housed at the Central Bank of Kenya (CBK) and instead of being spread across multiple commercial banks.

The World Bank previously froze the disbursement after Kenya failed to pass key legislation to prevent the conflict of interest within the public service.

Kenya has since met the demands after Parliament passed a new Conflict of Interest Bill and the Social Protection Bill but is yet to publish subsequent regulations.

‘Outstanding prior actions include further implementation of the Treasury Single Account (TSA) and e-government procurement, and a framework for faster approval of County Government Additional Allocations Bills,’ a World Bank spokesperson told this publication earlier.

‘(Other prior actions include) regulations to the Conflict-of-Interest Act, regulations to the Social Protection Act, regulations to the County Licensing (Uniform Procedures Law), amendments to the Competition Act, updated Kenya Information and Communications Regulations, the urban transport policy, amendments to the Forest Conservation and Management Act and the sovereign sustainability-linked financing framework.’

The discussions with the World Bank happen amidst similar talks with the International Monetary Fund (IMF) as Kenya seeks to unlock a new funded facility from the fund.

The Treasury does not however deem financing from the IMF as critical, terming it a windfall a deal that is to be reached in the current financial year.

‘Our borrowing plan for the 2025/26 financial year remains is on course and we are not worried at all,’ said Mr Mbadi.

We often throw caution to the cold, dark wind of December when it comes to spending. The cost-of-living crisis may slip our minds amid the razzle-dazzle of Christmas. We just want a moment to enjoy ourselves, to forget about the winter gloom. It’s natural for us to behave this way. Our brains are wired for it.

People in the UK spend on average an extra £700 at Christmas. The UK Office for National Statistics show increases of between 15 percent and 100 percent in the sale of books, music, computers, phones and electrical products, clothing and shoes, cosmetics and toiletries, food and alcohol in December.

But neuromarketing, a field of neuroscience that understands the way our brains respond to products, can help us to resist the urge to overspend.

The reasons we buy so much at Christmas are largely unconscious and emotional. For example, our brains are wired to avoid being left out. Social bonds were vital to our ancestors’ survival so when everyone else seems to be buying stuff and enjoying themselves at Christmas, we are motivated by evolutionary impulses to want to join in.

Our desire for new things, even when they have no intrinsic value, has evolutionary roots too. Finding and keeping new information and objects make us feel like we’re reducing uncertainties about the future. So marketing a product as the ‘latest’ version of its kind can make it seem irresistible.

Brain signals (neurotransmitters) alter our behaviour too. Dopamine drives our motivation and impulsivity for rewards. Oxytocin drives our sense of belonging, which can be stimulated by buying the same things as our friends. And cortisol levels may rise if we fear missing out.

These neurotransmitters direct our gaze when we look at adverts of products, holding our attention and then making us want to feel the reward of buying.

In July 2025, researchers reviewed three years of eye-tracking data of study participants looking at the top 50 most attention-grabbing Christmas ads.

They found heart-rending stories are great for capturing our attention, which make us more likely to buy the product. Images featuring emotional icons and cues such as popular celebrities, or lovable cartoon characters distract us. Distraction is known to stop us thinking about future goals (like saving money).

Why your willpower seems to evaporate

The 1970 Marshmallow Test on delayed gratification, developed by psychologist Walter Mischel, suggested that young children who could resist eating a marshmallow while the experimenter left the room would have more discipline in adulthood because their brains were wired for better self-control.

But a 2018 replication of the test found that family background and economic situation were the key factors in whether children and later adults could delay their gratification and be less impulsive (resist eating the marshmallow).

So, if there is unrest in the family or money is tight at Christmas, this could lead to faster, impulsive decisions and paradoxically over-spending on larger quantities of items we don’t really need or want.

Psychological research suggests that our willpower is most depleted when we are tired, if we have a lot to think about, or if we are cold and in need. It is a bit like overworking a muscle that needs constant energy.

This is the perfect formula for distraction at Christmas. We think of all the family and friends to buy gifts for and seek solace in the comfort of nice goods and experiences at Christmas.

All this overloads our cognitive control system in the prefrontal cortex – the front part of the brain under the forehead that helps us to control our behaviour by thinking about our long-term goals. And the prefrontal cortex connects directly to the reward centre of the brain. So if the prefrontal cortex is overloaded, the dopamine-driven, fast and impulsive reward responses are likely to take over.

Fast, impulsive thinking and slow, deliberate thinking are both part of the brain’s natural activity. Christmas shopping plays on this fast, impulsive thinking. Think of time-limited deals and the sense of crisis if a child or loved one loses out on a much-desired gift.

Nevertheless there are ways we can strengthen our willpower to enjoy the season with a sense of balance. The key is becoming conscious of our emotions and our actions. The more we consciously notice our impulsivity, the better we will be at controlling it next time.

You could start right now by noting down any impulsive purchases you have made over the last week or month. And next time you go to buy something, ask yourself whether you are using slow or fast thinking.

And since the prefrontal cortex system is like a muscle that can be trained to be stronger.

Cognitive training on the run up to Christmas may help strengthen your resolve. Think of playing chess online, or sudoku, or reading one of the books you might have been given last Christmas. Puzzles, reading, meditation practices that slow the mind, can all strengthen your brain’s circuits, and maybe help to be less impulsive this year.

And what about if you’re reading this while you’re in a cafe, taking a break from Christmas shopping? You can review your shopping list (or write one before you leave home) and reaffirm your plans.

Remind yourself to stick to the list and budget no matter what. Research shows that planning and setting intentions prevents impulsive responses, especially if people plan a contingency in advance about what they will do if they spot a bright, shiny bargain.

If you can rein in impulsive Christmas purchases now, your future self will thank you for it.

What do you do on holiday but swim, eat, read, and sit at the bar after dinner? Most nights I found myself at Coco’s in Sarova Whitesands-a bar by the beach, all breeze and sand and makuti thatch. Pure tropical indulgence. Nothing says “I intend to do nothing with my life but have drinks” quite like Coco’s Beach Bar.

Adjacent to it, there’s a dance floor where the hotel stages those wonderfully cheesy shows coastal resorts love: traditional dances, acrobatics, young crew members leading choreography while guests join in with varying degrees of coordination.

The bravery of people with two left legs never fails to entertain. But what can we say, the man who counts is the man in the arena, who strives valiantly to rhythm.

However, it’s the children I love watching most-hopping around on stage, searching for their rhythm, feeling impossibly grown-up because nobody’s ordering them to bed after dinner.

I tried cocktails each time because that’s what holidays demand: switching things up. Two whisky sours later, we’d amble back to our rooms. My daughter is of drinking age now, so it was a quiet joy watching her study the drinks menu and order something experimental. She’s poised and observant, taking it all in.

One night I sat alone. A woman beside me asked, “You look sad-why are you sad in a place like this?” “That’s not my sad look,” I told her.

“That’s my thinking look.” From the bar, you can see the darkness where the ocean begins, occasionally punctuated by lights from distant ships. I was contemplating how over seventy percent of Earth is ocean, how we occupy a mere strip of land, how sitting at this bar makes me cosmically insignificant. I thought about our mortality and how it means nothing to the dominant creatures in those unexplored depths.

During the day, Coco’s transforms. I’d lie on cushioned beach furniture under shade, reading, surrounded by breeze and silence. The bar becomes both escape and observation post-a place to do nothing while feeling everything.

When Kenya chose tourism as the theme for this year’s Jamhuri Day, it was more than a celebratory gesture. It was a statement of intent.

Tourism was positioned, not simply as an economic sector, but as a marker of national maturity, coordination and confidence. Few industries sit at the intersection of policy, culture, employment and global perception as directly as tourism does.

At its best, tourism reflects how a country understands itself. It reveals how well institutions work together, how communities are included in growth, and how national stories are told beyond borders.

The past season offered a useful moment to reflect on what progress in this space looks like.

Recent awards and recognitions of various players have highlighted a growing appreciation for professionalism and systems that work quietly in the background. Travel management has emerged as a critical function.

In an increasingly unpredictable global environment, travellers value foresight as much as inspiration. Smooth journeys now depend on planning, responsiveness and trust.

The significance of such recognition lies less in the trophy and more in what it signals. Excellence is no longer defined only by scale or visibility, but by reliability and client-centred execution. In a sector that directly shapes Kenya’s global image, these attributes aren’t optional; they are foundational.

What makes this season particularly instructive is that recognition has coincided with long-term milestones. Seventy years of continuous operation offers rare perspective in an industry often defined by volatility.

Longevity suggests an ability to adapt without losing purpose. It also reflects institutional memory, the kind that informs better decision-making in moments of uncertainty.

Regional growth points to a maturing East African tourism ecosystem, one that increasingly values collaboration over competition. For travellers, this creates richer and more coherent experiences. For the industry, it demands shared standards and mutual accountability.

The broader question raised by this Jamhuri Day theme is not who wins awards, but what kind of tourism Kenya wants to build.

Growth alone is insufficient if it is not inclusive, sustainable and credible. Tourism shapes livelihoods, but it also shapes perception. The stories told through travel influence how Kenya is understood, both at home and abroad.

This places responsibility on industry leaders, regulators and policymakers alike. Systems must support innovation without compromising integrity. Communities must see tangible benefit from tourism activity. And recognition must serve as a prompt for reflection rather than complacency.

Behind every accolade are professionals whose work rarely draws attention. Consultants who navigate disruptions. Teams who anticipate risk. Individuals who understand that trust is built through consistency. Their contribution is essential to the experiences that define Kenya as a destination.

By centring tourism in a national celebration, Kenya acknowledged more than an industry. It acknowledged a collective responsibility to curate experiences that reflect competence, care and confidence.

Thousands of Kenyans are alleging foul play after a cryptocurrency platform promoted by a senior Seventh-day Adventist (SDA) pastor collapsed, wiping out investments estimated to be in the millions of shillings.

Users of the crypto and forex trading platform known as Optcoin over the weekend woke up to find the platform had disappeared, with users being directed to a new platform that required at least Sh24,000 as a registration fee, allegedly to unlock the lost funds from the collapsed platform.

Many of the victims claim to have been introduced to the platform by a popular SDA pastor known as Paul Mwangi, who is the former executive director of the Central Kenya Conference of the church, which comprises congregations in Nairobi, Kiambu, Machakos, and nearby counties.

On Wednesday, the SDA church distanced itself from the cryptocurrency platform, arguing that it pastors promoted the digital currency trading site in their private capacity.

This followed a letter from the churn warning pastors against promoting unregulated financial investment products.

‘I joined with over Sh200,000 last month and now I can’t withdraw any of it. They had said they locked withdrawals temporarily and that they’d open on November 27 with a ‘gift’ for every user. On the 27th, they pushed it to December 10, then suddenly, the website was gone,’ narrated one user.

Several other users have narrated a similar ordeal on different social media platforms, including X, TikTok, and Facebook, with many calling on the DCI to act and arrest Mr Mwangi, who is their only known contact person from the company.

A cryptocurrency is a digital form of money that is not issued or controlled by any monetary authority and is traded online via digital exchanges and marketplaces.

Troubles at Optcoin came months after another popular cryptocurrency and forex trading platform known as CBEX went under, with fortunes that were wiped from accounts.

CBEX had captured the attention of many Kenyan and West African users in recent weeks with promises of AI-powered super profits, lucrative referral bonuses and easy withdrawals. Investors had been promised returns of up to 30 percent in just 30 days.

Mr Mwangi, who has since been elected the executive secretary of the East Kenya Union Conference – a larger body governing nearly half of SDA churches in Kenya, claims he is also a victim of the platform, which now appears to have been a Ponzi scheme.

‘I have lost $735,000 (Sh94 million) to the platform, which I can’t withdraw. If I mentioned something about Optcoin, I meant well,’ Mr Mwangi said I a YouTube video in which he appeared to clarify his involvement with the platform.

The pastor reckons that he was introduced to the platform by third parties who convinced him to transfer all his investments from different crypto and forex platforms to Optcoin.

After some time, he was allegedly made the regional director for the platform in Kenya, a role that made him the face of the crypto dealer, and ultimately convinced many people to join the platform.

In addition to the handsome returns the platform was promising investors, users earned a commission for referring users to the platform, which has been running for nearly a year now.

It is not yet clear how many users the platform had garnered before its collapse or their nationalities, because the site was unregulated and had no known registered address or office.

Some users reckon pastors and senior-ranking members of the church introduced them to Optcoin.

Before its collapse, the East and Central Division of the SDA church, which governs congregations in the region, had received wind of the pastors’ involvement and issued a caution letter to senior leaders, advising against such activities.

‘No minister of the church shall, directly or indirectly, participate in, promote, or facilitate any unethical, unlicensed, or fraudulent investment activity, whether in person, through organisations, or via online platforms,’ the division’s secretariat said in an internal letter sent to senior pastors on November 6, seen by Business Daily.

When reached for comment, the current executive director of the CKC, Geoffrey Wanyoike, said he cannot comment on the actions of individual pastors in the church and that the decision to promote the platform was their private decision.

He said it is not yet clear how many members of the church have been affected or how much the members had put in.

This is not the first time Kenyans have lost money in a fraudulent crypto or forex platform. In April, another popular platform known as CBEX disappeared overnight with millions of Kenyans’ funds, which have not been recovered to date.

On the evening of December 21, Africa will pause. Millions of football fans across Africa will gather around screens as Morocco faces Comoros in the opening match of the 35th TotalEnergies CAF African Cup of Nations (Afcon) in Rabat.

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Inside the Prince Moulay Abdellah Stadium, 68,000 spectators will roar with anticipation. Yet the true heartbeat of the tournament will echo far beyond the stadium walls, through living rooms, cafés, and mobile phones across Africa.

This is more than a game. It is a ritual of unity, a shared language that transcends borders, politics, and divisions. The excitement, the tension, and the drama are not just sporting moments. They are proof of football’s power to bind a continent together.

Consider the numbers. At Afcon 2024, the semi-final between South Africa and Nigeria drew a record 10.3 million viewers. The tournament itself reached an estimated 1.4 billion people worldwide.

These figures are staggering, but they tell a deeper story: African football is not merely entertainment. It is an industry, a cultural force, and an economic engine. It sustains thousands of jobs, drives local economies, and creates opportunities where few exist.

At the heart of this ecosystem lies broadcasting. Without it, the spectacle collapses.

Media companies invest millions to secure the rights to air matches legally. In sub-Saharan Africa, MultiChoice through SuperSport holds these rights, ensuring fans can watch live action while fuelling the sport’s sustainability. Every subscription, every pay-per-view ticket, every broadcast is more than a transaction; it is a lifeline for African football.

Behind the scenes, the ripple effect is immense. Camera crews, production teams, transport and logistics staff, caterers, hotel workers, and security personnel all depend on the tournament’s success.

Behind every goal replay and every commentary line is a network of livelihoods. Broadcasting revenue also sustains the Confederation of African Football, funding youth development, stadium maintenance, referees, coaches, and elite training camps. It enables national squads to travel, compete, and inspire millions. Without this revenue, the very foundation of African football would falter.

Yet this system is fragile. Piracy threatens to unravel it. To many fans, watching an illegal stream may seem harmless and a way to avoid subscription fees. But the consequences are profound.

Money that should support African football instead flows into criminal networks. Funding for youth academies shrinks. Infrastructure projects stall. National teams struggle. Piracy does not just steal content; it steals the future of African football.

The threat is not abstract. Globally, Spain’s LaLiga estimates losses of pound 600-700 million annually due to piracy. The UK Premier League blocked more than 600,000 illegal streams in a single season. In Africa, pirate websites expose viewers to malware, fraud, and identity theft.

They erode trust, scare away sponsors, and choke investment. Every illegal stream chips away at the opportunities available to players, coaches, and communities.

But there is hope. Organisations like Partners Against Piracy are fighting back, strengthening legal frameworks, taking pirate sites to court, and educating fans about the hidden costs of illegal streaming.

Technology companies such as Irdeto deploy advanced tools to protect legitimate streams, track illegal broadcasts, and make pirate platforms harder to access. These efforts matter, but they are not enough on their own.

The most important partner in safeguarding African football is the fan. Every legal subscription, every pay-per-view, every legitimate stream is a vote for the sport’s survival. Fans hold the power to decide whether African football thrives or withers.

This is the moral crossroads.

When you tune in to Afcon, you are not just choosing how to watch a match. You are choosing whether to invest in the dreams of young players training on dusty pitches, whether to sustain national teams that carry the pride of millions, and whether to protect the jobs of thousands who make the tournament possible. Watching legally is not a passive act; it is an active commitment to the future of African football.

So, ask yourself: are you helping to build African football, or letting piracy destroy it? The choice is enormous. By watching legally, you nurture the next generation of African stars, strengthen national teams, and ensure that the continent’s most beloved sport continues to thrive.

Kenya has extended the tenure of the three Chinese loans used for construction of the standard gauge railway (SGR) to 2040, with the extra five years aimed at easing the burdening quarterly payments.

Treasury reckons that it negotiated new terms that turned the loans into 15-year-old facility from this year, and includes a new five-year grace period-where Kenya will be exempted from paying the principal amount.

The extension was part of the conversion of the three dollar-denominated loans into yuan, reportedly saving the country about $215 million (Sh27.7) billion a year.

The SGR loans were initially set to be repaid by 2035, with Kenya paying both the principal and interest to China Exim Bank.

‘The loans are now going to be paid for 11 years with a four-year grace period for a total of 15 years,’ National Treasury Cabinet Secretary John Mbadi said on Thursday.

Kenya borrowed Sh655 billion ($5.08 billion) from the China Export-Import Bank in the year to June 2015 for the construction of SGR from Mombasa to Nairobi and later to Naivasha.

The country has been paying interest on the SGR notes twice a year in January and July and the loans were initially expected to mature between January 2029 and July 2035.

The extension of the loan tenure and the grace period will make repayment of the SGR loans manageable in a period when public debt servicing costs is consuming over half of government revenues.

The National Treasury estimates that it has been spending Sh50 billion a year on servicing the three SGR loans but now expects the servicing to only cost Sh37 billion a year.

Apart from the financial relief, Kenyan officials attribute the currency switch to the fact that the country’s debt is concentrated in dollars, exposing the government to higher currency and interest rate risks.

About 52 percent of the stock of Kenya’s external debt was denominated in dollars at the end of September, according to government records.

About 27.9 percent of debt was in euro, 12.3 percent in yuan, the yen (5.2 percent) and 2.5 percent in British pound.

Kenya is racing to cut its overall debt, which stands close to 70 percent of gross domestic product or Sh12 trillion, and ease repayments.

The government has revamped its debt management strategy to lengthen the maturity of debt, notably the Eurobonds and lighten the pressure on public coffers.

It has also been turning to securitisation of revenue to raise funds for key projects like the extension of the railway from Naivasha to the Ugandan border, and the upgrading of its main airport in Nairobi.

President William Ruto’s top economic advisor, David Ndii previously hinted that western lenders like the World Bank and the International Monetary Fund (IMF) forced Kenya to swap the SGR loan from dollar into yuan.

‘The western lender queried why they should be supporting us while other lenders are taking out their money,’Dr Ndii said in an interview last month.

Kenya looks set to miss the legally binding public debt limit by the end of the five-year adjustment window, highlighting the challenge of rising expenditure amid revenue shortfalls.

Latest Treasury projections shows the country’s debt will remain above the anchor of 55 percent of gross domestic product (GDP) until 2030, two years after the deadline set when the threshold was set.

Parliament, through the Public Finance Management (Amendment) Act, 2023, scrapped the numerical Sh10 trillion debt ceiling, which had been breached, and replaced it with a debt cap pegged at 55 percent of GDP.

The lawmakers, however, handed the Treasury five years to restore fiscal discipline after years of unchecked budget deficits, which necessitated increased borrowing.

The Treasury estimates in the annual debt management report for the period ended June 2025 that the present value (PV) of total public debt stood at 63.7 percent of GDP. The ratio is expected to gradually fall in the coming years due to continued spending controls and revenue growth, but is due to fall below the anchor for the first time in 2030 at 54.6 percent.

The law is silent on penalties should the debt sustainability threshold be breached. The lack of automatic spending cuts, borrowing limits, or sanctions in the event of non-compliance leaves enforcement largely dependent on Treasury’s own fiscal discipline and parliamentary oversight.

‘The analysis underscores the vulnerability of Kenya’s debt indicators to macroeconomic shocks, especially under stress scenarios,’ the Treasury said in the report.

‘The government is pursuing fiscal consolidation characterised by a slowdown in growth of public expenditures and an increase in ordinary revenue aimed at moderating the pace of debt accumulation and reducing the debt-to-GDP ratio.’

Despite repeated commitments to fiscal consolidation, debt accumulation has continued, exposing a widening gap between the policy intent and execution of the plan.

Politically sensitive and security-related State departments and agencies, such as the State House, Office of the Deputy President, National Police Service, National Intelligence Service, and the Interior Ministry, have particularly struggled to control recurrent expenditures.

Kenya has remained classified as being at high risk of debt distress by the International Monetary Fund (IMF) and the World Bank since 2020.

PV of debt-to-GDP ratio

The multilateral lenders have attributed the risk to persistently large fiscal deficits that, for more than a decade, have been financed largely through borrowing.

Kenya’s total debt stood at Sh11.81 trillion in June 2025, according to the Treasury data, 11.66 percent growth over Sh10.58 trillion a year earlier.

The Ruto administration – which assumed office with a pledge to limit borrowing to fund development projects- has grown total debt by more than Sh3 trillion from Sh8.76 trillion in June 2022.

The public debt stock has since crossed the Sh12 trillion mark from September 2025, with domestic debt accounting for more than 55 percent of the total. The rising share of domestic borrowing reflects increased reliance on the local market in recent years.

The country’s debt accumulation has been driven by successive Eurobond issuances, Chinese loans, and syndicated commercial facilities, which gathered steam during the administration of President Uhuru Kenyatta.

While these borrowings helped finance infrastructure and plug budget shortfalls, they are now squeezing public finances as repayments fall due, sharply increasing debt service costs.

The Treasury has allocated Sh1.9 trillion for public debt service in the current financial year ending June 2026, increased from Sh1.74 trillion in the previous year.

About Sh1.1 trillion of that estimate will be spent on interest payments, while Sh803.7 billion will go towards repayment of principal-underscoring how debt obligations are increasingly crowding out spending on development and social programmes.

The government plans to construct a commercial spaceport in Kipini, Tana River County, as it seeks to develop satellite launch capabilities and expand Kenya’s domestic space economy.

The National Treasury is already scouting for a transaction adviser to support the Kenya Space Agency (KSA) in developing the proposed facility under a public-private partnership (PPP) model.

The adviser will be tasked with conducting a feasibility study across technical, financial, legal, environmental and social aspects of the project, including assessing potential launch technologies, site suitability, market demand for satellite launches, airspace integration, environmental impacts and the project’s economic viability.

‘Conduct a business case analysis for a satellite launch facility in Kenya to determine if there is a credible basis for space launch from Kenya,’ terms of reference shared with the Business Daily stated.

A spaceport, also known as a cosmodrome, is a facility for launching, landing, and servicing rockets and space vehicles. Commercial spaceports are multimillion-dollar centres for operating spacecraft for private companies, supporting the growing space tourism, satellite and research industries by providing spaceflights.

The adviser’s work will also involve preparing preliminary designs, phased development plans and cost estimates for the spaceport.

‘Estimate the full life cycle costs of the project based on estimated construction costs, indicating proposed phasing of capital expenditure; maintenance, management, and operating costs taking into account current asset replacement and major maintenance schedules; and regulatory requirement costs,’ the Treasury says.

Spaceports feature launch pads, control centres, assembly buildings, and runways, crucial for both government and growing commercial space travel, tourism and cargo.

A commercial port along the Kenyan coast would offer launch pads, mission control, fuel storage and logistics, aiming for airport-like operations for various commercial space missions, including small satellites and human spaceflight.

The Kipini area, between Malindi and Lamu, is where the Tana River empties into the Indian Ocean. Treasury says the project location was favoured for its equatorial position, east-facing coastline, and year-round launch-friendly weather.

Cost of spaceport

The cost of constructing a spaceport depends on scope, launch pads, control centres, infrastructure, land and technological complexity.

The UK is constructing a £2.6 million (about Sh450.7 million) spaceport near the coast of Scotland. Dubbed ‘Spaceport 1’, the facility is set to be the country’s only dedicated commercial suborbital launch site.

Spaceport America, the world’s first purpose-built spaceport specifically for commercial users, cost approximately $219 million (Sh28.2 trillion at current rates) to construct between 2009 and 2011.

There are an estimated 22 active spaceports and launch facilities worldwide that can launch satellites or spacecraft into sub-orbit, orbit and beyond.

In Africa, the San Marco Project, a joint Italian-Kenyan space facility near Malindi and the Diamant launch pad in Algeria, was used to conduct satellite rocket launches. Both are no longer active, and satellites in Africa are now transported outside the continent to be launched.

Africa’s fintech revolution has moved from promise to performance. Over the past decade, the continent has evolved from a mobile money pioneer to a global laboratory for financial innovation. Kenya’s mobile money services showed that technology could drive inclusion. Now, the entire continent is building on that foundation.

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As we look toward 2026, the question is no longer whether fintech will thrive in Africa, but how it will evolve. Three trends will redefine the ecosystem: embedded finance, cross-border payments, and smarter and risk-aware growth.

Financial services will be seamlessly woven into non-financial platforms. Everyday apps, such as ride-hailing, e-commerce, agriculture, logistics, and utilities, will increasingly offer payments, credit, and insurance within their ecosystems.

The days when users needed separate apps or bank accounts to access financial tools are fading. For instance, a farmer buying seeds online could access microcredit at checkout, while a logistics driver might receive instant payouts and insurance, all within one platform.

This shift from standalone fintech apps to embedded functionality is already underway, driven by Africa’s mobile-first population and the demand for convenience.

For fintechs, success will come from building the infrastructure that powers others – APIs, SDKs, and white-label tools that allow any platform to integrate finance. The winners will be those who become the ‘rails’ behind Africa’s digital economy rather than just another consumer-facing app.

Regulators and banks must adapt. Finance will increasingly exist outside traditional institutions, raising new questions about oversight and consumer protection. For users, embedded finance promises easier access, fewer barriers, and a more connected experience.

Africa’s trade story is deeply tied to its payments story. Intra-African commerce has long been constrained by fragmented systems, high fees, and dependence on the US dollar for settlement. That is changing fast.

Digital platforms, regional integration, and supportive policies will also make cross-border transactions simpler and cheaper. Initiatives such as the Pan-African Payment and Settlement System (PAPSS) and frameworks under the African Continental Free Trade Area (AfCFTA) are laying the groundwork for faster, frictionless trade.

Fintechs specialising in ‘Africa-to-Africa’ flows are emerging to meet this opportunity. In East Africa, for example, a Kenyan marketplace is able to collect payments in Ugandan shillings from a customer in Kampala or Tanzanian shillings from a buyer in Dar es Salaam, and instantly convert them to Kenyan shillings.

That flexibility removes one of the biggest barriers to regional commerce: currency friction.

The are many solutions that enable this kind of cross-border experience, allowing businesses to collect, hold, and convert multiple African currencies efficiently. By simplifying settlements, these innovations help small and medium-sized enterprises (SMEs) expand beyond their home markets and trade across borders with confidence.

In 2026, we shall likely see regional consolidation, with a few dominant payment rails connecting multiple countries and offering interoperability. For fintechs, this presents a chance to power a new era of digital trade. For regulators, the challenge will be harmonising standards, particularly in Know Your Customer (KYC), anti-money laundering (AML), and data protection.

The early years of fintech in Africa were defined by explosive growth; more users, more transactions, more apps. The next phase will be about depth, not just scale. Fintechs will evolve into full-service ecosystems offering credit, savings, insurance, and investment tools, with a sharper focus on sustainability and profitability.

Data and artificial intelligence will play a central role. With limited traditional credit histories, fintechs are turning to alternative data, such as phone usage, and utility payments, to assess risk. As AI becomes more accessible, expect smarter, more inclusive credit models that expand access while managing risk responsibly.

This evolution will also bring stronger regulation. More African countries are introducing licensing frameworks, enhancing data protection laws, and clarifying the rules around digital assets. These efforts will build trust and ensure long-term stability.

Africa’s fintech story is entering a new chapter, one defined by embedded access, regional connectivity, and sustainable growth. Next year will test which business models endure, which partnerships scale, and which technologies truly serve Africa’s diverse markets.

For fintech leaders, there is need to build for collaboration, design for inclusion, and operate with resilience. For regulators, it is time to harmonise frameworks that allow innovation to thrive responsibly.