Business Journalist @PeopleDailyKe @NationAfrica @TheAfricaReport and @KenyaNewsAgency
Nairobi, Kenya
Joined August 2015
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Kenya’s cabinet approves $350m shareholder funding to @KenyaAirways and $940.6m debt-equity swap. Barriers to KQ’s investor onboarding all cleared now.
Again, @TheAfricaReport had it in July. Yet govt/board officials denied this talk over potential increase in GoK stake.
We had this in early Sept. @StateHouseKenya initiated it. @DavidNdii talks of $4-5 cents kWh pricing. Too early but @KenyaPower_Care is yet to receive the proposal.
theafricareport.com/429709/k…
Aliko Dangote: "Lamu's power plant will be double Lagos — 1,000MW produced, 500MW sold to Kenya's government."
🌻That's not a refinery side-note. That's a second Turkana Wind's worth of power riding on one man's petcoke investment. 🌻Kenya (read President Ruto) should be negotiating from strength here, not gratitude
Herald Aloo retweeted
Kenya says it is negotiating with Dangote Industries to double the planned capacity ➡️ l.theafricareport.com/s0t of an LNG power plant at its proposed Lamu refinery to 1,000MW, aiming to bridge domestic electricity shortfalls and tap Tanzanian gas.
Read more in @HeraldAloo's latest piece for The Africa Report.
Herald Aloo retweeted
Exclusive: Kenya Airways weighs fresh foreign debt to pave way for strategic investors l.theafricareport.com/0B1
By @HeraldAloo
Herald Aloo retweeted
After years of keeping a tight lid on spending, EABL may be preparing to open its purse strings again. ➡️ l.theafricareport.com/iuh The arrival of Asahi could usher in a new wave of brands, factory upgrades and expansion, but at what cost to shareholders?
Analysis by @HeraldAloo
Herald Aloo retweeted
Through an $11.6m investment in a new bulk terminal, ➡️ l.theafricareport.com/HIK TAL Group is aggressively expanding its maritime footprint to challenge long-standing monopolies and position itself for Kenya’s upcoming $2.5bn port privatisation.
Report by @HeraldAloo.
Herald Aloo retweeted
East African nations are pivoting towards a regional value-chain approach ➡️ l.theafricareport.com/6Jx by partnering with Aliko Dangote to build a joint refinery in Tanzania.
Read more in @HeraldAloo's report.
Herald Aloo retweeted
Over the weekend, Equity Group Holdings CEO James Mwangi said that President Ruto personally introduced him to Mozambique’s leadership, thereby unlocking immediate access and trust for market-entry discussions.
Follows closely on the Group’s Angola expansion signals.
The The Africa Report article on Equity Group Holdings’s Africa strategy:
—Targeting entry into Angola via a majority acquisition in a Luanda-based bank by 2026, leveraging recapitalisation-driven consolidation to access the market.
—Maintaining a pipeline in Ethiopia, though ownership caps, elevated capital thresholds and regulatory friction continue to delay entry, reinforcing a pivot toward M&A-led expansion across the continent.
Herald Aloo retweeted
Equity Group is restructuring to spin off its technology and data divisions ➡️ l.theafricareport.com/S35 into an independent entity by late 2026, aiming to decouple its high-growth fintech operations from its core banking business.
Report by @HeraldAloo.
#Russia, facing heavy losses in Ukraine, is turning to Africa to replenish its ranks using secret agents.
#Kenya's Global Face Human Resources and Ecopillars Manpower; #Ghana's Fly Away Travel & Tour; and #Nigeria's St.Fortunes Travels are active.
theafricareport.com/408626/r…
Herald Aloo retweeted
Continental Re in fresh IPO to raise capital: Gaborone, Nairobi or Johannesburg? l.theafricareport.com/e2S
By @HeraldAloo
Herald Aloo retweeted
Kampala is pressing for more fiscal space to pursue growth as it negotiates a new IMF programme worth SDR475m ($674.5m; USh2.4trn), ➡️ l.theafricareport.com/ZZr even as Fund officials push for the government to narrow its budget deficit from the current level of about 7.6% of GDP.
Read more in @HeraldAloo's report.
Herald Aloo retweeted
Negotiators are pressing for tighter debt-management rules as the IMF raises concerns over Kenya’s securitisation plan and weak revenues in talks for a new programme. l.theafricareport.com/QCp
By @HeraldAloo
Herald Aloo retweeted
The Kenyan national carrier’s efficiency drive has been hampered by a shortage of Boeing aircraft, causing it to continue with a mixed fleet. l.theafricareport.com/6As
By @HeraldAloo
Herald Aloo retweeted
"We are now starting to craft what our international strategy would be and where new markets will be," Capitec CEO Graham Lee tells The Africa Report.
➡️ l.theafricareport.com/LPI
Interview by @HeraldAloo.
Kicking the can down the road to get some fiscal space. Early 2030s now fully packed with Eurobond maturities.
The massive oversubscription can be signs of improving investors’ confidence but let’s not forget issuances have been quite few in Africa.
We’ve received requests for an explainer ,here, it is below 👇🏼
KENYA RAISES USD 1.5 BILLION (Sh193.5 BILLION) AT LOWER COST AND PAYS OLD DEBT EARLY.
The Government has successfully raised USD 1.5 billion (Sh193.5 billion) from international investors and at the same time tendered to pay off the outstanding USD 1 billion of the 2028 Eurobond ahead of schedule.
This is the third such transaction since 2024, and it shows the Government’s firm commitment to managing debt more wisely, paying off loans on time, and protecting Kenyans from sudden repayment shocks.
The money was raised in two parts:
A 7-year bond of USD 750 million at 7.875%, and
A 12-year bond of USD 750 million at 8.8%,
together giving Kenya a better rate of 8.7%, which is 1% lower than what the country would have paid at the start of the year.
By securing this deal, the Government has also smoothened and lengthened debt repayments, giving Kenya more breathing space in managing its finances.
The response from investors was very strong. The Government asked for USD 1.5 billion, but investors offered more than USD 7.5 billion five times the amount needed.
Most of this support came from trusted international fund managers in the United States America and the United Kingdom, showing that the world has renewed confidence in Kenya’s economy.
This success means Kenya will spend less on interest, ease pressure on taxpayers, and keep the economy stable while creating room to fund development priorities such as roads, health, and education.
Ethiopia is eyeing external market (its hydropower already outstrips current demand). Kenya must first sort the thinning power reserve margin before thinking of exports.
Will Kenya catch up? Or will Ethiopia move fast to be Africa’s third nuclear power host after SA and Egypt?
Ethiopia, a hydropower giant, and Kenya, a leader in geothermal generation, are racing for dominance in East Africa’s energy supply. ➡️ l.theafricareport.com/1Qd Both nations are ramping up investment in nuclear power — a diversification that is likely to strengthen Asia’s influence in the region.
Read more in @HeraldAloo's latest piece for The Africa Report.
Massive tag-team here between @AlikoDangote, Ethiopia and Chinese contractors. The Gode urea plant, backed by Dangote Group and Ethiopian Investment Holdings (EIH), is designed for 3m tonnes a year.
Can a fertiliser mega-project and a Chinese-built refinery shift Ethiopia’s energy and industry from import dependence to self-supply? ➡️ l.theafricareport.com/E1X
Report by @michaelmasrie.
