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UK–Kenya Tech Hub Partners with Viktoria Ventures to Build Kenya’s Next Generation of Angel Investors

by Jacky Muraba
written by Jacky Muraba

Kenya’s early-stage investment landscape is about to get more structured, collaborative, and connected to global markets.

The UK–Kenya Tech Hub has partnered with Viktoria Ventures, Anza Village, and POV to launch Startup 360 Connect (#S360Connect), a comprehensive initiative designed to train confident angel investors, prepare investment-ready founders, and create sustainable pathways for early-stage capital deployment.

At its core is the Startup 360 Connect Angel Leads Program, a six-month training and syndication experience that moves beyond theory into action—equipping participants to evaluate deals, form syndicates, and deploy real capital into Kenyan startups.

From Awareness to Activation

Kenya has built one of Africa’s most vibrant startup ecosystems through years of deliberate investor education. Programs like the African Angel Academy and previous Angel Leads cohorts have successfully demystified angel investing and grown a community of informed early-stage investors.

But as the ecosystem matures, the focus is shifting from learning about angel investing to actually doing it—consistently, collaboratively, and with structured capital deployment that founders can depend on.

“We have spent years building the foundations of angel investing in Africa, and this program represents the next phase of that journey,” said Stephen Gugu, CEO of Viktoria Ventures. “It’s about moving beyond awareness into action—building confident investors, strong syndicates, and real capital deployment that founders can rely on.”

The program builds on the success of the recently concluded Angel Leads Program, which created the Moneva Syndicate and invested in Afyalishe Wellness. Startup 360 Connect expands that model with a broader ecosystem approach, integrating investor training, founder readiness, and market linkages into a single connected pipeline.

How It Works: Three Connected Pillars

Startup 360 Connect operates across three complementary pillars, each addressing a critical stage of the startup and investment journey:

1. Angel Investor Training & Capital Activation (Viktoria Ventures)

The Startup 360 Angel Leads Program provides structured training in angel investing, deal evaluation, and syndicate formation. Participants gain hands-on experience evaluating startups, structuring investments, and operating as part of a syndicate.

Crucially, each participant commits USD 1,000 toward a syndicated investment at the program’s conclusion. Investment decisions are made collectively by syndicate members, ensuring collaborative capital deployment into high-potential startups.

“This partnership is about more than training investors—it’s about building the infrastructure for sustainable early-stage capital in Kenya,” said Fiona Kiruja, Programme Manager at Viktoria Ventures. “We’re creating real pathways for Kenyan investors to learn, lead, and co-invest in startups locally and across borders.”

2. Founder Readiness & Startup School (Anza Village)

Strong investors need strong founders. Through Startup School Kenya, Anza Village delivers a national founder development pathway in collaboration with the UK–Kenya Tech Hub, KENIA, and industry partners.

The program takes founders from early ideas to investment-ready ventures through structured training in business model development, product-market validation, financial literacy, governance, and investor engagement.

“Our role at Anza Village is to help founders build strong, investment-ready businesses,” said Wangechi Wahome, CEO of Anza Village. “This partnership allows us to align that work with a growing pool of well-trained angel investors. When founders meet investors who truly understand their journey, the entire system becomes more efficient and impactful.”

Startups graduating from Startup School transition directly into the Angel Leads Program for investment readiness and syndication exposure—creating a seamless pipeline from founder training to capital deployment.

3. Market & VC Linkages (POV)

Through POV’s GrowthPath Market and VC Linkage pillar, the program provides insight into how African startups prepare for international expansion, particularly into UK markets. While it doesn’t guarantee investment opportunities, this component strengthens investor understanding of cross-border growth pathways and builds valuable networks.

“Market linkages are often the missing piece for African startups,” said Precious Oyelade, Founder & Chief Implementer at POV. “Through GrowthPath, we’re ensuring that founders and investors gain structured insight into UK market entry and scale. It’s not just exposure—it’s informed connection that leads to better long-term outcomes.”

Supported by the UK–Kenya Tech Hub, participants also gain direct exposure to UK startup markets, peer networks, and cross-border deal flow—strengthening Kenya’s position within global innovation corridors.

“This partnership reflects a deliberate shift toward strengthening local investment capacity and creating stronger bridges between Kenyan and UK innovation ecosystems,” said Billy Msagha of the UK–Kenya Tech Hub. “By equipping investors with the skills and networks they need, we’re helping unlock more sustainable pathways for early-stage capital to reach founders.”

Who Should Apply

The Startup 360 Connect Angel Leads Program runs from February to June 2026 and is designed for:

  • Individual angel and aspiring angel investors
  • Members of investment groups and chamas
  • Professionals seeking to formalize their startup investing
  • Impact-driven investors targeting early-stage innovation

Over six months, participants receive:

  • Structured training in angel investing and startup syndication
  • Live investor masterclasses and deal deep dives
  • Hands-on formation of investment syndicates
  • Technical support on legal structuring and investment execution
  • Opportunity to mentor high-potential startups through structured coaching
  • Post-program access to live deal evaluation and cross-border exposure
  • Each participant commits USD 1,000 toward a syndicated deal at program completion, with the recipient startup(s) collectively chosen by syndicate members.
  • Application link: https://bit.ly/Startup360ALP
  • Applications close: Monday, January 30, 2026 at 11:59 PM EAT

Why This Matters Now

Kenya remains one of Africa’s most active startup hubs, yet early-stage funding remains concentrated among a small group of investors. Startup 360 Connect aims to democratize access to angel investing, enabling professionals across the country to participate meaningfully in startup finance.

The syndicate-based model reduces individual risk while increasing the volume and quality of early-stage investments entering the market—creating a more resilient and scalable funding ecosystem.

As Kenya’s startup economy matures, initiatives like this signal a broader shift from informal investing to structured, collaborative, and cross-border capital deployment. For founders, it means access to more informed, engaged investors. For investors, it means better deal flow, shared risk, and exposure to global markets.

For Kenya’s ecosystem, it represents the next evolution: moving from building awareness to activating capital, from learning to leading, and from local investing to cross-border collaboration.

For more information or media inquiries, contact the UK–Kenya Tech Hub or Viktoria Ventures.

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Business

Kenya: clearing agents protest demurrage charges on empty containers

by Japheth Ogila
written by Japheth Ogila

Users of Mombasa Port have objected to shipping lines’ demurrage charges on containers, claiming that this exposes the nation to high commodity prices and trade costs.

The users, led by the Kenya International Freight and Warehousing Association (Kifwa), said that despite port congestion and limited depots causing delays, shipping companies are charging demurrage and detention fees on empty containers.
According to Kifwa, the action is causing supply chains and inland cargo movement to be disrupted, as well as financial hardship for customs officers, freight forwarders, and transporters.

It claimed that a disproportionate amount of risk is unfairly transferred to agents who have little control over depot capacity and that the high logistical costs are passed on to importers and consumers.
Depending on the destination, empty container return free periods (detention) at Mombasa Port can range from nine to fourteen days for local cargo to thirty to fifty-two days for transit products.
High cargo volumes from rising imports and transhipment cargo have caused congestion at the Port of Mombasa in recent months.

According to reports, empty container facilities outside the port are packed with vehicles waiting up to five days to return empties; others are turned away because there isn’t enough room.
Carriers impose demurrage and detention for exceeding the “free period” when a container stays inside a terminal; detention is applicable when the container is beyond the port.
Any additional fees result in increased commodity pricing and trade costs, which ultimately affect consumers.
Kifwa claims that liners cannot profit from their own inability to manage empties, calling the accusations “unjust and unlawful.”

After the initial “free time” has passed, demurrage fees can range from about $13 (Sh1,677) to more than $100 (Sh12,900) per container, per day. The shipping company, the size of the container, and the length of the delay all affect the precise cost.

 

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BankingBusiness

Flutterwave Acquires Mono to Accelerate Open Banking and Direct Payment Infrastructure Across Africa

by Jacky Muraba
written by Jacky Muraba

Flutterwave, Africa’s premier payments technology company, has acquired Mono, a leading open banking infrastructure provider on the continent. This acquisition underscores Flutterwave’s sustained commitment to creating an interconnected, interoperable financial ecosystem across Africa and establishes open banking as a fundamental component in the region’s evolving alternative payment landscape.

Mono’s API-powered platform provides secure financial data access, identity verification, and direct bank-to-bank payment capabilities—features that are becoming essential as African markets transition toward more reliable, data-driven financial services. Following the acquisition, Mono will maintain its independent operations, preserving its existing leadership, team structure, and daily functions. Flutterwave’s investment facilitates strategic coordination without operational oversight, enabling Mono to sustain its innovation momentum while contributing its open banking technology to Flutterwave’s comprehensive payments infrastructure.

This acquisition acknowledges an important shift: Africa’s next wave of payment innovation will increasingly rely on bank-based, authenticated, and locally adapted payment methods rather than traditional card networks. Through Mono’s open banking APIs, Flutterwave enhances its capacity to deliver accelerated customer onboarding, superior verification processes, reduced fraud exposure, and streamlined direct payment transfers. The partnership also establishes groundwork for expanding into advanced alternative payment solutions, authenticated transaction flows, and eventually open banking-powered stablecoin applications.

The impact extends far beyond product enhancement. Businesses gain infrastructure that streamlines compliance-intensive procedures like identity verification and bank authentication while boosting conversion rates and operational reliability. Developers and partners access a consolidated platform where payments and financial data integrate seamlessly, minimizing complexity and shortening deployment timelines. The combination strengthens Flutterwave’s operational depth, driving sustainable value through improved margins, enhanced platform engagement, and distinctive infrastructure capabilities. Regulatory authorities benefit from greater standardization, reinforced data security, and compliance with international frameworks including PCI-DSS and ISO 27001.

Commenting on the acquisition, Olugbenga ‘GB’ Agboola, Founder and CEO of Flutterwave, stated, “This acquisition embodies our vision for Africa’s financial infrastructure. Payments, data, and trust must be interconnected, not isolated. Open banking creates those connections, and Mono has developed essential infrastructure in this domain. This move enables us to broaden what businesses can achieve across African markets while maintaining our focus on security, compliance, and local context.”

Abdulhamid Hassan, Founder and CEO of Mono, added, “We created Mono to realize Africa’s open banking promise. Since our initial collaboration with Flutterwave in 2021, we’ve witnessed what coordinated efforts can accomplish. Combining Mono’s strengths in financial data access, direct bank payments, and identity verification with Flutterwave’s exceptional scale and international presence creates something more robust and complete. This acquisition positions us to develop the foundational infrastructure that will drive Africa’s next fintech generation at the pace and magnitude the continent requires.”

As Africa’s digital economy increasingly demands transparent, trust-based infrastructure, this investment represents a strategic shift toward systems that prioritize interoperability, data intelligence, and sustainable continental growth.

Nichole Yembra, Founder and Managing Partner at The Chrysalis Advisors Africa, served as advisor on the transaction, guiding both parties through strategic planning and execution.

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BusinessEditors choiceLeadershipMeet the Boss

From Mombasa to North America: 50-Year rise of Scale Foods

by Brian Yatich
written by Brian Yatich

In 1974, a young and determined entrepreneur named Shashi Shah left Mombasa with a single suitcase, an instinct for trade, and the East African spirit of resilience ingrained into his identity. 

He landed in Canada with little money but a clear vision, to build something meaningful, ethical, and enduring. What began in a small Montreal garage as a modest import business would, five decades later, evolve into Scale Foods, one of North America’s most advanced vertically integrated food manufacturing companies.

CEO Sujay Shah and President Rajay Shah, the next generation steering the company forward.

Today, that legacy is carried forward by Shashi’s sons, CEO Sujay Shah and President Rajay Shah, who have transformed the family’s ambition into a modern, tech-driven food empire. 

Scale Foods supplies and partners with major supermarket chains across the U.S., top-tier food companies in Canada, and global food manufacturers, positioning the company as a key player in North America’s modern food ecosystem.

Their latest milestone, a $95 million state-of-the-art facility in Toronto, stands as proof of how far a family’s belief in quality, discipline, and East African business values can go.

At the gates of this new facility, the Kenyan flag flies high. It is more than symbolism; it is a declaration of origin, a tribute to the man who planted the seed of an empire, and a reminder that while the company operates globally, its heart beats with East African rhythm.

At the core of Scale Foods’ identity is Kasuku, the family’s flagship spice brand. Named after the Swahili word for parrot, Kasuku represents vibrancy, intelligence, and diversity. These qualities are mirrored in the company’s growing portfolio of premium spices, grains, and natural food products. 

From sourcing and steam sterilization to milling, blending, and packaging, Scale Foods controls every process under one roof, ensuring unmatched purity and freshness.

The Shah family credits their longevity and growth to principles inherited from their East African roots; loyalty, long-term thinking, relationship-building, and resilience. These values guide every decision, even as the company embraces cutting-edge technology, data systems, and advanced manufacturing capabilities.

In an exclusive conversation with The East African Business Times, Brian Yatich had a chat with Chief Executive Officer, Sujay Shah as he discusses the company’s journey, the family legacy, and what the future holds as Scale Foods expands its footprint across North America, and ……. The potential return to East Africa.

How would you describe the mindset and values Shashi Shah carried from Kenya that became the foundation of Scale Foods?

My father, Shashi Shah, along with his brother Praful, began importing food products out of the family garage in Montreal, Canada, after immigrating from Mombasa in 1974. He brought with him a deeply rooted East African business mindset, grounded in precision, loyalty, and long-term thinking. 

That mindset shaped not just how he approached trade, but how he built relationships and made decisions. He believed in putting in the work, maintaining integrity at every step, and playing the long game, not chasing shortcuts. 

These values created a foundation of trust that still defines how we operate at Scale Foods today. We don’t just think in quarters or even years; we think in decades. And it’s that long-range view, inherited from my father, that’s enabled us to grow into the company we are now while preserving the integrity of where we came from.

From a garage-based import operation to a vertically integrated food manufacturing empire, what were the defining moments that shaped Scale Foods’ trajectory?

One of the most defining moments in our trajectory was the decision to unify our three core divisions, Shashi Foods, Smile Natural Foods, and New York Spice, under one cohesive brand: Scale Foods. 

Each entity had its own legacy and operational strengths, but we recognized that to move forward and lead in the North American market, we needed a unified identity that reflected the scale, precision, and future-forward approach we had developed over the years. 

Another turning point was the investment in vertical integration. Rather than outsourcing key parts of our operation like many others in the industry, we chose to build a system where we control everything from sourcing and importing to steam sterilization, milling, blending, and packaging. That decision changed the game for us, giving us full control over quality and setting us apart from competitors.

What were some of the early challenges your family encountered when entering the North American market, and how did you overcome them?

Breaking into the North American market as an immigrant family came with its share of barriers, language, capital, and yes, racism. We didn’t have institutional backing or a network to lean on. 

But what we did have was clarity in who we were and what we stood for. We relied on our values: relentless drive, accountability, innovation, and the belief that we’re better together. They were how we navigated every setback. When the door wasn’t open, we found another way in. When we were underestimated, we outperformed. Every challenge sharpened our commitment to quality and built the foundation for the trust we’ve earned today

What lessons from your father’s era remain relevant in today’s high-tech, ultra-competitive food industry?

The biggest lesson that carries over from my father’s era is that long-term trust always wins. In a time where data and technology drive a lot of decision-making, we’ve held on to the principle that relationships, built on consistency, integrity, and respect, are the backbone of sustainable growth. 

We’ve also stayed committed to doing things right the first time. My father never believed in cutting corners, and that ethos is reflected in how we approach everything from traceability to food safety. Even as we’ve scaled and adopted more advanced systems, we’ve never lost sight of the importance of honoring relationships and delivering with precision.

Scale Foods is now one of North America’s most advanced vertically integrated food companies. What competitive edge does full integration, from sourcing to packaging, give you?

Vertical integration is our core differentiator. We own every step of our process and that level of control is rare in our industry. Most companies outsource at least one of these stages, which introduces risk, inconsistency, and loss of visibility.  

We’re able to guarantee purity, improve traceability, and deliver unmatched freshness to our customers. It also gives us a strategic edge in an unpredictable global supply chain landscape. While others struggle with delays or quality issues tied to third-party vendors, our internal system keeps us agile, consistent, and reliable.

The new Toronto facility cost $95M. What does this investment represent in terms of capacity, efficiency, and strategic positioning?

This facility is a major milestone not just for us, but for Canadian food manufacturing as a whole. At a time when many are offshoring production to reduce costs, we made a $95 million investment in our Toronto headquarters to double down on local excellence. 

It’s one of the most advanced food facilities in North America and allows us to operate a fully vertically integrated system under one roof. We’ve created over 200 skilled jobs and continue to grow. Strategically, this facility strengthens our regional supply chain, boosts production capacity, and positions us as a North American leader capable of delivering purity and consistency at scale.

How do you ensure purity, freshness, and quality across your entire supply chain?

We ensure quality by controlling the entire supply chain ourselves. Our end-to-end process allows us to maintain strict standards and avoid the quality degradation that can happen when different steps are outsourced to third parties. 

We also hold certifications like BRC, Organic, Kosher, Gluten-Free, and Non-GMO, which reinforce our commitment to compliance, food safety, and transparency at every level.

Which products or categories currently define your strongest growth areas?

We’re seeing our strongest growth in custom seasoning mixes and spice blends, particularly those tailored for health-conscious consumers and global flavor trends. What’s driving that growth is our ability to innovate across the entire supply chain. 

Because we’re vertically integrated, we can respond faster to market shifts, develop proprietary blends, and package them in modern, scalable formats for retail, food service, and industrial clients. 

The combination of culinary relevance, clean-label ingredients, and high-quality packaging has positioned us as a go-to partner for brands looking to offer something differentiated and dependable.

Are there any upcoming innovations or product lines you are preparing to introduce?

We’re currently preparing to launch two new in-house spice brands. These will be announced soon, and each will reflect our commitment to purity, consistency, and culinary excellence while offering consumers something distinct and high-quality within the spice category

What investments have you made in food safety, traceability, and compliance with North American regulatory standards?

Food safety and traceability are foundational to our operations. Our vertically integrated model gives us real-time visibility into every stage of production, which is crucial for meeting and exceeding regulatory standards. 

We’re certified in BRC, Organic, Kosher, Gluten-Free, and Non-GMO, and our investment in sterilization and traceability systems ensures that nothing leaves our facility without meeting our exacting standards.

How important is R&D in strengthening Scale Foods’ product quality and diversification strategy?

R&D is absolutely central to how we evolve. We recently launched Scale Labs, our in-house incubator dedicated to product innovation, quality testing, and collaborative development. 

It’s a space where our team can experiment with new blends, refine formulations, and co-develop with partners, including Fortune 500 companies. 

Scale Labs gives us the agility to stay ahead of consumer trends while maintaining the precision and consistency our clients rely on. It’s not just about diversification; it’s about pushing the standard for what quality can look like in this industry.

What leadership principles guide you most strongly in managing a large-scale, family-owned enterprise?

I lead with long-term vision, integrity, and accountability, values passed down from my father and shaped by the demands of managing a modern enterprise. Because we’re privately owned and fully independent, I’m not beholden to external investors or short-term profit pressures. 

That gives me the freedom to lead in a way that prioritizes people, product, and purpose. I believe in reinvesting in our team and technology and in making decisions that protect the integrity of the brand over the long term.

How do you preserve the integrity of a family legacy while also steering a modern, data-driven company?

The rebrand to Scale Foods was about exactly that, honoring the legacy while building something fit for the future. Our legacy is built on trust, quality, and long-term thinking. 

What’s changed is the scale and sophistication with which we now operate. By integrating advanced systems and maintaining full control over our operations, we’re able to stay competitive in a data-driven market without compromising on the principles that got us here. It’s about evolving with purpose, not just for the sake of growth.

As a privately funded and fully independent company, how do you stay competitive against multinational food giants?

Being privately funded has been a strategic advantage. It’s allowed us to scale deliberately, reinvest where it matters most, and stay true to our principles. We’re not chasing quarterly returns or reacting to investor demands, we’re focused on delivering quality and building something that lasts. 

That independence means we can make values-driven decisions and protect the integrity of our partnerships. It’s helped us earn trust and create something that’s both resilient and deeply rooted in purpose.

Do you have plans to re-enter or invest in East Africa’s food manufacturing space in the future?

Absolutely. East Africa, and Kenya in particular, will always be part of our story, but it’s also part of our future. The region is evolving quickly, with growing demand for high-quality, differentiated food products. 

We see a significant opportunity to re-engage not just as exporters, but as contributors to local manufacturing, innovation, and value creation. When the timing is right, we intend to invest in ways that support regional food security, elevate local sourcing, and bring Scale Foods’ quality standards and capabilities back to where it all began.

Looking ahead, what is your vision for the next decade of Scale Foods?

Our vision is to become the most trusted natural foods company in North America, recognized not just for scale, but for integrity, precision, and long-term impact. 

Over the next decade, we’ll continue to invest in vertical integration, product innovation, and global partnerships that allow us to serve more markets without compromising on quality. 

But more than anything, our goal is to build something that lasts, an enduring legacy rooted in family values, driven by excellence, and built to serve generations to come.

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Business

PDM Group tapped as lead partner for Kenya’s Diaspora Reconnection Program

by Brian Yatich
written by Brian Yatich

PDM Group, one of East Africa’s longest-serving real estate and urban development firms, has been unveiled as the lead strategic partner for the newly launched Journey Back to Eden (JBE) program.

The initiative aims at reconnecting African Americans and the global African diaspora with Kenya through relocation, investment, and settlement opportunities.

The announcement was made during the official JBE launch at the Nairobi Serena Hotel, presided over by Tourism Principal Secretary John Ololtuaa, who represented Tourism and Wildlife Cabinet Secretary Rebecca Miano.

Also in attendance was Diana Kiambuthi, Director of Cultural Diplomacy at the Ministry of Foreign and Diaspora Affairs.

PS Ololtuaa praised the partnership, noting that Kenya stands ready to welcome diaspora communities seeking meaningful reconnection.

“The government welcomes this transformative initiative, especially with strong private-sector leadership from partners like PDM Group, who bring a longstanding legacy of credibility and structure to the relocation and settlement experience. Kenya is open, ready, and eager to welcome our people home,” he said.

As the primary partner for relocation and settlement under JBE, PDM Group will deliver a comprehensive ecosystem covering real estate advisory, property acquisition and development, housing solutions, and property management.

The partnership also integrates support from the Aga Khan Development Network (AKDN), strengthening the initiative’s offering with access to healthcare, education, and financial services — critical components for diaspora families considering long-term resettlement.

“At PDM, we believe that coming home should be a dignified, informed, and empowering experience. Our partnership with the JBE program allows us to offer African American and global diaspora families a trusted, structured, and safe pathway to invest, relocate, and build new lives in Kenya,” said Natasha Mutai, PDM Group CEO.

The Journey Back to Eden initiative features immersive 7- and 12-day programs exposing participants to Kenya’s opportunities across real estate, investment, medical tourism, wellness, entrepreneurship, education, and cultural reconnection.

The program aligns with Kenya’s broader strategy to deepen economic, cultural, and social ties with the global diaspora while boosting tourism, real estate investment, and medical travel.

“Journey Back to Eden was created to give the diaspora not just a tour, but also a pathway home. This partnership with PDM Group elevates JBE by providing participants with the stability, clarity, and trusted infrastructure needed to make informed decisions about relocation, housing, investment, and long-term settlement in Kenya,” said Kea Wakesho Simmons, CEO of Traverze Culture.

Simmons noted that African Americans alone command USD 1.6 trillion in annual spending power, with the wider African diaspora controlling hundreds of billions more.

JBE, she added, positions Kenya as a premier destination for cultural return, diaspora investment, and family settlement.

The collaboration places PDM Group at the forefront of a rapidly emerging reconnection economy driven by diaspora interest in African investment and heritage.

To further promote the initiative, a marketing tour is planned for February 2026 during Black History Month, with key events expected in Atlanta, Houston, and Washington D.C.

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Business

IFC catalyzes breakthrough in Africa’s vaccine manufacturing: Biovac launches cholera vaccine trials

by Jacky Muraba
written by Jacky Muraba

Biovac, a client of the International Finance Corporation (IFC), has initiated clinical trials for South Africa’s first domestically developed oral cholera vaccine—a milestone achievement for African health security. This innovation will enable faster, more reliable vaccine access during cholera outbreaks while reducing dependence on imports. Pending approval, the vaccine could become available by 2028.

IFC’s Strategic Partnership

Over the past three years, IFC has played a central role in Biovac’s expansion:

Financial Leadership

IFC led a consortium of local and international development finance institutions, including South Africa’s Industrial Development Corporation (IDC) and the European Investment Bank (EIB), to mobilize critical financing for Biovac’s growth.

Direct Investment and Advisory Support

In 2023, IFC committed a $7 million loan (in rand equivalent) to support Biovac’s scale-up operations. IFC is also providing advisory services for a new multi-vaccine manufacturing plant in Cape Town.

Transformative Impact

The new facility will triple Biovac’s manufacturing capacity, add 4–5 new vaccines to its portfolio, and support both traditional and mRNA vaccine platforms—representing a significant advance for Africa’s health resilience.

Broader Significance

This partnership aligns with the World Bank Group’s strategic priorities: building domestic vaccine and pharmaceutical manufacturing capacity, and strengthening regulatory, delivery, and financing systems to ensure comprehensive health system preparedness across the continent.

 

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BusinessEnergy

Stanbic Bank Kenya, Premier Solar Solutions partner to boost access to affordable renewable energy

by Jacky Muraba
written by Jacky Muraba

Stanbic Bank Kenya has signed a Memorandum of Understanding with Premier Solar Solutions Limited to expand access to affordable and reliable solar energy solutions for businesses across the country. The partnership strengthens the Bank’s renewable energy proposition and supports Kenya’s transition to clean and stable power.

Speaking at the signing ceremony, Priscilla Were, Head of Sustainability at Stanbic Bank Kenya, said the partnership reflects the Bank’s commitment to supporting sustainable growth and addressing longstanding barriers to renewable energy adoption.

“Renewable energy is a strategic priority for Stanbic Bank because it supports Kenya’s economic resilience and long-term prosperity. Access to stable and affordable power is essential for businesses. Through this partnership with Premier Solar, we are removing barriers that have slowed the adoption of clean energy,” said Ms Were.

Redesigned Financing to Drive Solar Adoption

Stanbic Bank has overhauled its renewable energy financing structure to make solar solutions more accessible to businesses of all sizes. The redesigned offering includes loan tenors of up to ten years, up to 100% financing covering both equipment and installation costs, simplified credit assessments for SMEs and commercial clients, and no additional collateral requirements for eligible customers.

“We have redesigned our renewable energy financing so that more clients can transition to solar with ease. With loan tenors of up to ten years, up to 100% financing, simplified credit checks for SMEs and no additional collateral for eligible customers, we are making renewable energy more accessible and more affordable,” added Ms Were.

Under the collaboration, clients will receive free energy audits to determine their energy requirements and suitable system size, streamlined documentation, a moratorium on principal repayments during the installation and development phase, discounted interest rates, and zero processing fees for enterprise clients. All installations funded under the partnership will use Tier 1 solar panels, batteries and inverters sourced through accredited EPC partners.

A Catalyst for Clean Energy Growth

Premier Solar Solutions CEO, Rupesh Hindocha, welcomed the agreement as a significant step forward for Kenya’s commercial and industrial solar sector. Premier Solar Solutions operates as part of the StarSite Premier Energy Group, which manages renewable energy operations across East Africa including Kenya, Uganda and Tanzania. The company has completed over 40 projects totaling 20 megawatts of solar capacity and 10 megawatt hours of battery storage in Kenya alone.

“Premier Solar is committed to providing clean, affordable and reliable power to businesses in Kenya. Working with Stanbic Bank enables more enterprises to adopt high-performing solar systems through flexible and accessible financing,” said Hindocha.

Hindocha described Stanbic’s initiative as a landmark moment for the sector, noting that banks have historically been unable to offer long-dated lending facilities specifically designed for solar and renewable energy technologies. He expressed confidence that the partnership would serve as a catalyst for future growth of solar and battery energy storage systems within Kenya’s commercial and industrial sector.

Supporting Kenya’s Clean Energy Transition

By deploying capital into clean energy investments, Stanbic Bank aims to contribute to reducing carbon emissions, enhancing energy access, and strengthening economic resilience through reliable power solutions. The Bank’s renewable energy financing supports businesses and households in lowering operational costs, improving power reliability, and advancing national climate goals.

“Our goal is to support our clients throughout the transition, from sourcing equipment to installation and financing. Together with Premier Solar, we will help businesses reduce energy costs, improve reliability and contribute to Kenya’s clean energy goals,” said Ms Were.

The partnership underscores both organizations’ commitment to driving sustainable growth not only in Kenya but across Africa, as businesses increasingly seek stable, cost-effective alternatives to conventional power sources.

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Business

Reportage Group greenlights major Kenya projects as part of bold $3 Bn African expansion

by Jacky Muraba
written by Jacky Muraba

Reportage Group is doubling down on Kenya, with senior leadership announcing the greenlight for multiple new developments during a strategic visit that concluded an intensive five-country African tour this week.

Mr. Andrea Nucera, Managing Director of Reportage Group, accompanied by Mr. Alkesh Rajput, International Chief Operating Officer, and Mr. Luay Hassan, International Chief Executive Officer, visited the company’s Nairobi office to approve two major projects in the capital and an additional development in Mombasa—with market launches expected within three to four months.

Green Light for Growth

In a decisive move that signals confidence in Kenya’s property market, Nucera confirmed approval for the new developments during meetings with staff, stakeholders, and media professionals.

“We received the green light to go ahead with the two new projects—a big one,” Nucera told the gathering. “If they’re not going, you have to blame them, but they received the green light.”

The announcement comes as Reportage Kenya completes its operational restructuring, having fully integrated former SSS Developers into a unified team. With current inventory sufficient for only ten months at present sales velocity, the new projects are strategically critical for maintaining the company’s growth momentum in East Africa.

“Reportage Kenya now contains all the previous SSS developers—we are one team only. There is no difference,” Nucera clarified, addressing questions about the relationship between the two entities.

Record-Breaking Year, Ambitious Targets

Reportage Group is experiencing exceptional growth globally, with impressive numbers backing its aggressive expansion strategy:

• $2.3 billion in projected turnover for 2025

• 11,000 units sold worldwide

• $3 billion+ revenue target for 2026

The company is simultaneously launching new projects in Abu Dhabi, Dubai, Baku (Azerbaijan), and Egypt’s North Coast before year-end, demonstrating its multi-market development capabilities.

A Continental Vision Taking Shape

Nucera’s Kenya visit concluded a whirlwind African tour spanning five countries in under a week—a testament to Reportage’s serious commitment to the continent:

  • Ethiopia (Addis Ababa): Partnership discussions with government and military stakeholders for major developments
  • Nigeria (Lagos): New project launch over the weekend
  • Angola: 4,500-unit mega-development in partnership with Dubai Investment near the capital, linked to port expansion
  • Rwanda (Kigali): Multiple ongoing constructions and new projects in the pipeline
  • Kenya (Nairobi): Strategic operations review and project approvals

“For us, Africa is not just an idea. We believe in what we see, and every time I’m coming, there is something better and better,” Nucera emphasized. “You can see there is always a ladder that is going up and up.”

Why Kenya? Quality of People Over Market Size

When pressed on what makes Kenya strategically important among African markets, Nucera’s response highlighted factors beyond purely economic considerations.

“The first reason is the quality of the people,” he stated. “At the end of the story, we invest in people first, then the land. You can do whatever you want, but if you don’t have human capital to grow and develop, you cannot do anything.”

He noted that while Nigeria may be more dynamic in terms of sheer market size, Kenya offers clearer pathways for international investors.

“The situation in Kenya has a higher possibility to grow because there is a general situation that, in my opinion, is much easier to read by investors like we are,” Nucera explained.

Brand Visibility and Market Presence

Beyond new project approvals, Nucera emphasized the importance of strengthening Reportage’s marketing footprint in Nairobi.

“Marketing is very important for us—our brand needs to be more visible in the city,” he said. “I’m pushing them as much as I can to get more projects in the right time and to expand our presence.”

The emphasis on brand visibility signals plans for increased promotional activity as the company scales its East African operations.

Building for the Long Term

With offices now established in Nigeria, Kenya, Rwanda, and Uganda, Reportage Group is building infrastructure for sustained African growth, combining international expertise with local partnerships to deliver developments that meet global standards while responding to regional market dynamics.

The visit reaffirmed Reportage Group’s vision of delivering high-quality, sustainable real estate developments across the continent, positioning Kenya as a key hub for future growth within East Africa.

As Reportage Kenya moves forward with its newly approved developments, the company joins a growing roster of international developers betting on East Africa’s rising middle class, urbanization trends, and improving business climate to drive long-term returns.

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Awards & RecognitionBusiness

TUKO.co.ke announces winners of the Business Leaders Awards 2025

by Contributor
written by Contributor

TUKO.co.ke has unveiled the winners of the Business Leaders Awards 2025, a national campaign celebrating organisations and executives shaping Kenya’s economic future through innovation, resilience, and purpose-driven leadership.

Kenya’s economy is gradually stabilising, supported by easing inflation and improved access to credit. In this environment, companies and business leaders are redefining progress—moving beyond profitability to embrace sustainability, inclusivity, and community impact.

The TUKO.co.ke Business Leaders Awards 2025 highlights businesses and leaders whose strategies strengthen people, purpose, and the planet.

Nominees were selected following comprehensive internal research identifying Kenya’s most progressive and high-performing companies.

“This campaign shows that innovation and resilience are vital in uncertain times, and stories of this year’s nominees will inspire the next generation of Kenyan business visionaries,” said Jacob Otieno, Managing Editor at TUKO.co.ke.

Leaders in the Spotlight

The 2025 honourees excel across four key categories:

  • Innovation and Impact Award

  • Sustainability and Climate Resilience Award

  • Youth Empowerment & Inclusive Growth Award

  • Community Engagement Excellence Award

Innovation and Impact Award

Ashish Malhotra, CEO – Airtel Kenya

Airtel Kenya continues to invest heavily in digital infrastructure and cutting-edge technologies. The telco is also narrowing the digital divide through its Adopt a School Programme with UNICEF, which has provided more than 100,000 students with access to online learning tools and digital education content.

“We recognise that the real power of technology lies in preparing future generations to fully harness its potential,” says Ashish Malhotra.

Sustainability and Climate Resilience Award

Allan Kilavuka, CEO – Kenya Airways

Kenya Airways is leading Africa’s shift to green aviation through strategic investments in Sustainable Aviation Fuel (SAF). The airline recently won the Best Approach to Scaling SAF award, underscoring its commitment to reducing carbon emissions.

“Our goal is to use a 10% Sustainable Aviation Fuel blend by 2030. We are also working on building Kenya’s first SAF production facility,” says Allan Kilavuka.

Youth Empowerment & Inclusive Growth Award

Dr. Gamaliel Hassan, CEO – Stima Sacco

Stima Sacco has placed young people at the core of its transformation strategy, delivering financial empowerment through tailored youth products. These include accessible asset financing, mortgage solutions, and investment options offering returns of up to 16%.

“We continue to sponsor the education of young people who show exceptional potential and commitment to growth,” says Dr. Gamaliel Hassan.

Community Engagement Excellence Award

Carolyne Nekesa, Head of Marketing – Minet Kenya

Minet Kenya is redefining community-focused corporate wellness through its initiatives on maternal health and mental well-being. In 2025, the company hosted a transformative Mother’s Day wellness event, which expanded into the Blooming Mums Club, offering maternal health check-ins, financial literacy support, and mental wellness resources for families.

“We understand that beyond physical wellness, mental and emotional health are vital for thriving families and workplaces, and we go beyond our core business to create experiences that affirm and uplift,” says Carolyne Nekesa.

Sustainability and Climate Resilience Award

Peter Murungi, Managing Director – Energy Kenya (Vivo Energy Kenya)

Vivo Energy Kenya is accelerating the nation’s clean energy transition through expanded LPG and solar energy solutions. Its projects have powered schools, health centres, and small enterprises in underserved off-grid communities, enabling safer and more sustainable energy consumption.

Inspiring the Next Generation of Leaders

These distinguished leaders are setting new standards for corporate leadership in Kenya—driving economic recovery while championing social impact, environmental responsibility, and inclusive growth.

Where to Learn More

Read the full stories and leader profiles on TUKO.co.ke, or visit the TUKO.co.ke Business of the Year Awards 2025 website for important dates and submission details.

Previous editions:

About TUKO.co.ke

TUKO.co.ke is Kenya’s leading digital news platform, dedicated to telling stories that reflect the country’s heartbeat—informing, entertaining, and inspiring people across all regions. Its coverage champions socio-economic development, innovation, and resilience throughout the Kenyan economy.

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Business

Practical approaches for small business owners to create accurate financial projections

by Brian Yatich
written by Brian Yatich

Financial projections might sound like a corporate luxury — something reserved for big firms with finance teams — but they’re the lifeblood of small business stability.

Whether you run a coffee shop, a design studio, or a digital agency, projections help you understand what’s coming next and make decisions before money problems arise.

TL;DR

Accurate projections rely on three things: clean records, realistic assumptions, and regular updates. Use structured templates and accounting software to simplify the math.
Apps like Expensify and Wave make the process painless by automating expense tracking and categorization.

The Real Purpose of Financial Projections

A projection isn’t just a “guess” about next year’s profit. It’s a way to:

  • Reveal cash shortfalls before they hit your bank account.
  • Convince investors or lenders you can manage growth responsibly.
  • Compare expected performance to actual outcomes.
  • Stay disciplined in how you spend, hire, and price your products.

If you’re new to forecasting, cloud-based accounting tools can be your safety net. Platforms like QuickBooks pull your sales and expenses directly into clean, automated reports — a great starting point for consistent data.

Anatomy of a Financial Projection

Component What It Tracks Why It Matters
Revenue Forecast Sales and expected income Measures top-line growth
Operating Expenses Rent, utilities, wages Identifies recurring costs
Cost of Goods Sold Materials, suppliers, shipping Shows product-level profitability
Cash Flow Money in and out per month Prevents liquidity surprises
Balance Sheet Projection Assets, debts, owner equity Clarifies long-term health

You can build your model in Excel or Google Sheets, but for ready-made forecasting templates, try Smartsheet — it’s flexible and designed for small business budgets.

Recordkeeping: The Backbone of Reliable Projections

Forecasting without organized books is like driving with fogged-up windows. The cleaner your data, the more meaningful your numbers.

That’s why many owners rely on tools like Xero for real-time financial visibility. Xero syncs with bank accounts, tracks invoices, and gives you clear profit snapshots — essential for projecting growth with confidence.

Alternatively, if your operations are project-based or service-heavy, Clockify makes time tracking and expense reporting straightforward, helping you refine your cost assumptions over time.

How-To: Build a Simple Yet Powerful Financial Projection

  1. Collect past data. Export at least 6–12 months of real numbers from your books.
  2. Separate fixed vs. variable costs. Rent and insurance are fixed; shipping and commissions fluctuate.
  3. Estimate growth rates. Base them on past trends and verified market data.
  4. Factor in seasonality. If December sales surge, plan inventory and cash flow accordingly.
  5. Model three outcomes. Best case, realistic case, and conservative case.
  6. Review monthly. Set a recurring reminder in Notion or a similar productivity app to keep financial tracking on schedule.
  7. Validate your assumptions. A quick review with a part-time accountant or advisor ensures your numbers reflect reality.

FAQ: Common Questions About Financial Projections

Q1: What’s the difference between a budget and a projection?
A budget limits spending. A projection predicts future performance — they work hand in hand.

Q2: How often should I update projections?
Ideally monthly; quarterly if your business is stable.

Q3: Do I need special software?
Not necessarily. If you prefer a free option, try Google Sheets — simple, flexible, and easy to share.

Q4: What if my numbers are off?
That’s normal. The goal is improvement, not perfection. Accuracy increases as your data set grows.

Bonus Tip: Simplify Your Reports

Creating projections from raw data can feel overwhelming. Dashboards in Zoho Books automatically visualize trends in revenue, expenses, and cash position, saving hours of manual calculation.

Use your reports to identify patterns — which clients pay fastest, which products bring in the most margin, and which costs are creeping up quietly.

Glossary

  • COGS: Cost of Goods Sold — what it costs to make or buy what you sell.
  • Gross Margin: Profit after deducting COGS but before expenses.
  • Burn Rate: How fast your cash reserves are used up.
  • Break-Even Point: When revenue equals all costs — no profit, no loss.
  • Cash Flow Forecast: A schedule of incoming and outgoing cash to prevent overdrafts.

Product Spotlight: Automate and Grow

Once your projections are in place, automate repetitive admin tasks to save time. Business owners using Monday.com for financial workflows often integrate expense tracking, approval chains, and progress updates in one place — freeing up more hours for strategy instead of spreadsheets.

Financial projections are more than numbers — they’re navigation tools.
By maintaining accurate records, leveraging automation, and reviewing data consistently, small business owners can transform uncertainty into foresight.

You don’t need a finance degree to see what’s ahead — just structure, discipline, and the right tools.

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