Stanbic Bank and MiDA Advisors, will be partnering with Acorn Holdings, an established real estate developer, to mobilise $700 million in long-term blended finance commitments for green, affordable student housing in Kenya.

Upon approval, the transaction will comprise a $180 million commitment from the United States Development Finance Corporation (DFC) that will secure over $380 million in equivalent KES financing arranged jointly by Stanbic Bank Kenya and MiDA Advisors, and $315 million in equivalent KES financing from Kenyan capital markets, for a total blended financing of $700 million over an 18-year timeframe.

Commenting on the transaction, Dr Joshua Oigara, Stanbic Bank Kenya and South Sudan CE said, “As a Bank, we pride ourselves on being a catalyst for growth in the region, with sustainable finance acting as an enabler. This blended finance deal would mark one of the largest impact investment transactions in Kenya, with long term impact on job creation, sustainable housing and education. We are in the final stages of the structuring process and remain committed to the growth of Acorn Holdings and to the country’s sustainable infrastructure goals.’’

Adding to this, Alakh Kohli, Stanbic Bank Kenya Head, Corporate and Investment Banking said, “In the past years, we have mobilized about $122 million for green or sustainability linked facilities and we remain keen on unlocking more green finance opportunities in Kenya.  This partnership would not only advance our growth journey with Acorn but would help us drive more societal impact. We are excited to be lead arranger in one of the largest transactions in affordable green housing in the region and will leverage our investment capabilities to drive a successful transaction upon approval.’’

The collaboration will result in the construction of 35 certified green housing projects, creating approximately 48,000 new student beds over the next 10 years, making it the single largest investment into student housing in Africa.

This project will be key to alleviating the shortage of quality and affordable accommodation for tertiary students in Kenya. 

The initiative will create an estimated 15,000 direct jobs and 35,000 indirect jobs. The units will also provide a conducive learning environment for the students, helping to improve access to education.

This is not Stanbic Bank's first collaboration with Acorn Holdings. The Bank was instrumental in bringing the first-ever green bond to East Africa, in association with Acorn Holdings, for environmentally friendly student housing in Nairobi.

Standard Bank also facilitated the largest purchase of Acorn Holdings' Income and Development Real Estate Investment Trusts (REITs) through the Unquoted Securities Platform.

The decision by Mombasa Governor Abdulswamad Nassir to ban the sale and consumption of Muguka in the county continues to attract mixed reactions from residents and leaders.

A section of residents led by religious leaders, human rights activists have come out in support of the move arguing the use of Muguka has been the main cause of the rise in  cases of admissions at mental and rehabilitation centres and crime in Mombasa.

"According to the data that we have, the number of those using Muguka has increased to 1,500 from 1,000 and this is data recorded from January to May 2024. Out of these cases we have referred at least 100 patients to Port Reitz mental facility" said Taib Basheeb, the executive director of Reachout Centre Trust.

Haki Africa Executive Director Yusuf Mahmoud said research shows muguka causes mental health problems, which the World Health Organization says is a disease that should be addressed.

“In the policy of the government, health issues are rights of human beings and we are people who take care of the rights of people. Therefore we support the initiative because it is in line with the rights of humans and the issue of health among youth is a responsibility of national and county government,” he said.

On her part, Nominated Senator Miraj Abdillahi criticised the decision by Governor Nassir arguing that it is the sole responsibility of every parent to ensure that their Child is disciplined.

"Banning Muguka is not the solution, it is upon us as parents to ensure that our Children are disciplined through good parenting and instilling good values." said Miraj

Adding "Banning Muguka is interfering with someone's leisure. Why should you be concerned about a person who has been working the whole day and decided to get Muguka for his relaxing and leisure time"

Capital youth caucus association of Kenya Director Evans Momanyi said the move by the Governor will leave many youth who have been surviving on selling Muguka jobless.

"We have people especially the youth who have been feeding their families by selling Muguka. Where do you want them to go now that you have banned the sale, are going to give them another alternative means of economic survival or jobs" argued Momanyi.

Adding " Before coming up with this decision, the governor should have first consulted every player. The constitution has given Kenyans the right to participate in any law or decision making especially on issues that will touch them directly."

 In Executive Order No.1 of 2024, Governor Nassir stated that all outlets, whether retail or wholesale selling or distributing the stimulant, be closed immediately.

“Pursuant to section 13 of the Fourth Schedule at part 2, it is the responsibility of the county governments to exercise to control drugs and substance abuse,” reads part of the executive order.

In today's digital age, storytelling has found a new and vibrant platform through podcasting.

As Nicolas Regisford, founder of the SA Podcast and Music Festival shares, " I've witnessed firsthand the explosive growth of this industry. The space is so attractive and enticing to content creators, we now need to work the space to connect the dots."

DJ Sbu, a media personality, author, and entrepreneur, aptly captures this phenomenon:

"The podcast industry is exploding, breathing new life into storytelling. Podcasting isn't just a trend; it's a thriving medium that offers immense opportunities for content creators to transform their passion into a sustainable business venture."

Here are three compelling reasons why you should consider diving into podcasting as a business:

Reach and Influence:

Podcasting allows you to reach a global audience with your unique voice and message. Unlike traditional media, podcasts are accessible anytime, anywhere, offering an unprecedented level of engagement with your audience.

By sharing your expertise and stories, you can build a loyal following and exert meaningful influence within your niche.

Monetisation Potential:

Podcasting presents diverse monetization avenues, from sponsorships and advertising to merchandise sales and premium subscriptions.

As your listenership grows, so do your opportunities to generate revenue and turn your passion into a sustainable income stream.

Creative Freedom:

Podcasting empowers you to explore diverse topics and formats without the constraints of traditional media. Whether you're passionate about business, entertainment, health, or storytelling, podcasting provides an open canvas for creativity.

You have the freedom to craft compelling narratives and engage with your audience authentically.

The SA Podcast and Music Festival is a prime example of the growing enthusiasm for podcasting in South Africa. This upcoming event promises a wealth of knowledge and networking opportunities for aspiring and seasoned podcasters alike.

Attendees will have the chance to learn from industry experts and broadcasters, gaining insights that can elevate their podcasting journey.

Discovering new strategies, connecting with like-minded creators, and exploring the limitless potential of turning passion into a thriving podcasting business.

DJ Sbu who will host the event along with a power packed line up of speakers goes on to say, "Remember, podcasting isn't just about recording audio—it's about sharing stories, sparking conversations, and making a meaningful impact. We are doing this to embrace the power of podcasting, and inspire voices to reach and resonate across continents. The time to embark on a podcasting journey is now."

The SA Podcast and Music Festival on June 14th and 15th will give attendees a taste of the dynamic world of podcasting.

Renowned Nigerian artist and maestro producer, Tekno has officially inked a revolutionary deal with emPawa Africa, the brainchild of musical impresario, Mr Eazi.

This game-changing collaboration will see Tekno's Cartel Music releasing some exciting new music via emPawa Africa with the first single titled “Wayo” slated for release this Friday, May 24th. 

Excited about the news, Tekno says “This alliance with emPawa will provide an avenue to be a game-changer for the African music industry and a beacon of opportunity for artists.”

Tekno's unparalleled expertise in singing, songwriting and production makes this collaboration a recipe for success. His ability to nurture budding talents aligns perfectly with emPawa Africa's ethos, promising an infusion of fresh perspectives and unparalleled value.

Mr Eazi announced his company’s new feat via a brief statement on Twitter. “With this deal with Tekno and Cartel Music, we are ushering in a new phase of emPawa,” says Mr Eazi. Adding “This phase will see us partnering with African artists at different stages of their careers who want to maintain financial and creative freedom, yet move from talent for hire to equity participation. It’s a first-of-its-kind deal for Afrobeats.”

In addition, Tekno plans to invest as a shareholder in emPawa Africa during the company’s next capital call round.

He joins Grammy-winning music producer Michaël Brun among those who have invested in the innovative, African-owned label services company founded by Mr Eazi in 2018.

emPawa Africa has been at the forefront of discovering and nurturing emerging talent across the African continent; building a launch pad for these artists to shine on the global stage.

Working with artists such as Joeboy, Major League DJz, Fave, King Promise, Minz and DJ Neptune, among others.

Tourism and trade between Kenya and Tanzania are expected to receive a significant boost as Africa's premier low-cost airline Jambojet commences its new Mombasa-Zanzibar route on July 1st, 2024.

The route is set to redefine travel between the two coastal destinations by offering direct flights with fares starting from USD 109, making it at least 40% cheaper than the current standard fares.

It also addresses the high demand and current lack of direct flights between Mombasa and Zanzibar, offering a more convenient alternative to the lengthy road or ferry journeys and indirect flight routes currently used.

Jambojet will initially operate four non-stop flights per week, with plans to increase to six. The direct Mombasa-Zanzibar flight will depart at 3:35 PM, arriving in Zanzibar at 4:30 PM.

The return flight will leave Zanzibar at 5:10 PM, arriving in Mombasa at 6:05 PM on the De Havilland Dash 8 400 aircraft, seating 78 to 82 passengers.

This will cover the journey in just 55 minutes each way, significantly reducing the current travel time.

These schedules are designed for seamless connections to and from Nairobi on other Jambojet flights, and to and from Dubai on Kenya Airways and Fly Dubai. Additionally, multiple airlines offer connections from Mombasa to European cities such as Frankfurt and Milan.

Tanzania's Acting High Commissioner to Kenya, Yohanna Kibesse, highlighted the route’s potential to strengthen historical ties and economic opportunities, particularly in tourism and hospitality.

"The introduction of the Jambojet flight between Mombasa and Zanzibar is a significant step forward in fostering closer ties between Tanzania and Kenya. This new route will facilitate easier travel and convenience for our citizens, encourage tourism, and enhance trade between Zanzibar and Mombasa," said High Commissioner Kibesse during a meeting with Jambojet MD and CEO Karanja Ndegwa.

The Jambojet MD and CEO Karanja Ndegwa added, "We are excited to launch the Mombasa-Zanzibar route, which aligns with our growth strategy and enhances affordable and convenient connectivity within East Africa. This route will significantly reduce travel time and cost for passengers, promoting tourism and business between Kenya and Tanzania, thereby strengthening bilateral relations and economic ties."

Tanzania is amongst Kenya’s top three tourism source markets. Last year, 157,818 Tanzanians visited the country while 128,753 Kenyans went in the opposite direction between January and August.

According to Tanzania's 2023 Economic Survey, the value of Kenya's exports to the country experienced the biggest growth amongst the East African Community (EAC) with goods worth KES.57.7 billion.

The new route is a vital part of Jambojet's expansion strategy unveiled during its 10th-anniversary celebrations.

The Kenya Medical Research Institute (KEMRI) and the US Centre for disease control and prevention (CDC)  have renewed their MoU to continue partnering and enhance collaborative activities in cutting-edge research on a reciprocal basis

The signing was done by KEMRI acting Director General  Professor Elijah Songok and CDC Global Health Director, Dr. Kayla Laseron in the presence of President William Ruto during his state visit to the USA which started on Monday.

"This collaboration will encompass human health research and program implementation at KEMRI facilities and in Kenyan communities, research and capacity building for public health threats and emergencies, dissemination and application of research findings for policy formulation, training of public health professionals, strengthening research leadership and laboratory capabilities, staff exchanges, and sharing of research information and materials in accordance with Kenyan laws, as well as any other mutually beneficial health-related research activities." reads a statement from KEMRI.

Another importnat MoU signed during the event was between the Ministry of Health and the U.S. President's Emergency Plan for AIDS Relief in developing a Sustainability Roadmap for Kenya’s HIV Programme and the joint proclamation for the operationalisation of the Kenya National Public Health Institute.

The agreements that will accelerate the Kenyan government’s efforts to achieve Universal Healthcare include the joint proclamation for the operationalisation of the Kenya National Public Health Institute.

During the visit to the CDC Headquarters in Atlanta, President Ruto  hailed the US government as a key ally in Kenya’s healthcare advancement.

“The United States of America has been Kenya’s true ally in healthcare from infrastructure, pioneering research to the tackling of infectious diseases. We intend to escalate this journey of partnership, including the local manufacturing of vaccines, for the prosperity of all” he said.

Researchers have published results that show that household air pollution from cooking is the main source of Carbon Monoxide (CO) exposure of school going children in Nairobi.

The study, christened Tupumue, a Kiswahili word meaning ‘let us breathe’ notes that despite most of the urban homes in the two contrasting study areas- an informal and a more affluent settlement of Nairobi, Kenya, using liquid or gas fuels, concentrations of Carbon Monoxide levels were comparable with those previously reported in rural homes that predominantly use more polluting solid fuels such as charcoal and wood.

The study has just been published in the Environmental Pollution scientific journal and is a multidisciplinary study bring together researchers from Kenya including those from KEMRI, and their United Kingdom counterparts from Liverpool School of Tropical Medicine (LSTM), Storkholm Environmental Institute, and the University of Stirling among others.

The non-communicable lung disease in Kenya study sought to determine the burden and early life determinants and air pollution concentrations that were measured for 24 hours in nearly 200 homes in Nairobi.

According to a statement from the Kenya Medical Research Institute (KEMRI), the study  established that a substantial proportion of homes (nearly 1 in 10) had concentrations that would activate a European-standard Carbon Monoxide alarm, suggesting that there is likely to be a considerable unquantified burden on health from acute carbon monoxide exposure and carbon monoxide poisoning.

"Carbon Monoxide is a poisonous gas produced by incomplete combustion of carbon-based fuels burning fuels on poorly ventilated stoves, chronic health effects, particularly in terms of child development, may be occurring because of the carbon monoxide exposures reported here. The study underscores the urgent need to address household air pollution in urban settings with targeted interventions essential to mitigate Carbon Monoxide exposure and safeguard public health as this study corroborate findings that suggest that ‘cleaner’ fuels do not always generate the desired levels of reduction in household air pollution." reads the statement from KEMRI.

There is a need to better understand carbon monoxide exposures in urban settings and to target interventions, including community education on household air pollution, that reduce exposure from evening cooking activity within the home

Kwale based Radio Kaya has suffered a blow after Mo Radio poached two of it's top presenters.

Mo Radio has poached Robby and his 'radio bae' Caroline Mkamburi.

The duo were previously the face of Radio Kaya's youth and entertainment programe, Kaya Flavaz .

Robbie and Mkamburi will now be hosting the mid morning show from 10am to 2pm, with their first show being on Monday, 20th May 2023.

Global Afropop superstar Yemi Alade has released a new single “Tomorrow” a lead up to her upcoming tenth body of work titled ‘Rebel Queen’, set for release in 2024.

“Tomorrow” is an uplifting and up-beat track produced by Yasso.

The new single showcases Yemi's vocal range on different levels. She sang lead and all the backing vocals that made up the choir in the background. 

Ahead of the release Yemi Alade reveals, “Tomorrow is a timeless piece that honors the aspirations of the future and the ongoing pursuit of turning them into achievements. This is a dedication to all those envisioning brighter days, serving as an anthem for champions.” 

The single speaks on the importance of the gift of tomorrow and its promise for a better day. It’s about having another opportunity to achieve things we couldn't today. It encourages one to place their trust in the divine guidance from God despite the uncertainty of the future.

Yemi Alade is excited to present a wholesome body of work with the new album.

She revealed that ‘Rebel Queen’ album will be a cocktail of different genres with multiple flavours designed to appeal to every single music lover from any corner in the world.

She says, “I created this album with the sole purpose of creating music I grew up loving and the variety I have grown to love now. I was inspired by the core African music of Highlife and different genres that got us excited as Africans.”

'Rebel Queen’ album represents Yemi Alade’s originality, bold spirit and global domination to a great degree.

She is revered for her electrifying live music performances not only on big stages and stadiums across the world but also for exclusive audiences such as the United Nations, Global Citizen and the British Royal Family to name a few. 

Having started the year 2024 on a big note - performing at the 2024 Africa Cup of Nations (AFCON) opening ceremony, Yemi Alade is now set to headline her solo show in Zenith, Paris - La Villete, France on 21st September 2024 alongside her African Train Band, as part of 2024 tour series.

Mombasa county has heightened regulations onto the sale and consumption of Miraa and muguka in the region.

In the new regulations, the county government has now directed that there will be no sale of Miraa and muguka around schools and places of worship.

All shops selling the products must be far away from the learning institutions to cushion school going children from engaging in drug and substance use.

Speaking on Wednesday after a joint meeting with Embu governor Cecil Mbarire, governor Nasir said sellers and traders of the product will now be required to get specified licenses.

The two governors accompanied by members of their respective county assemblies  met to discuss how the two counties can both benefit from the control of the cash crop produced majorly in Embu.

Governor Nassir said the county will deploy officers to enforce the regulations. Buses and canters engaged in the transportation of the products will also be required to get special licenses from Mombasa county.

"We will send a team to go round giving out notices to shop owners that also sell miraa and muguka, they have to decide that they will run a general shop or sell miraa and muguka said Nassir

On her side, Embu Governor Cecily Mbarire, along with several of the county’s members of her county assembly, supported the initiative, noting that the easy accessibility of these substances to children necessitated stringent regulations.

"Muguka and Miraa are scheduled cash crops, and we need to coordinate their trade effectively. As the people of Embu, we support the need to regulate their trade in Mombasa to protect our children," she stated. 

During the meeting, the Embu governor suggested the cess fee be reduced from 80,000 to 60,000 so that traders in the business will not be disadvantaged due to exorbitant charges.

Nassir has asked the county assembly to ensure consideration of the charges adjustments as well as ensure the regulation does not victimize sellers of the product.