Legacy or Liability? Putting Kenya’s CHAN 2024 Moment Under the Lens

By Chelsy Maina

CHAN 2024 is underway, and Kenya is in the continental spotlight. This last weekend, Kenya’s national team Harambee Stars continued its unbeaten run to inch closer to a quarter-final spot after beating two-time champions Morocco 1-0.

The government has sold the ongoing tournament as a once-in-a-generation chance to inject billions into the economy, boost sports tourism, and show Africa that we can host world-class tournaments. 

But as the matches roll on, it is clear that the real game is not just on the pitch- it is in whether the country can deliver on what it promised, and at what cost.

And the hype comes at a significant price. Kenya still owes the Confederation of African Football (CAF) US $13 million- about KShs 1.6 billion- in hosting rights fees, a bill that has been delayed by budget constraints tied to costly stadium upgrades. 

Beyond the pitch, CHAN is being positioned as more than just a football competition. For the government, it is a soft-power opportunity- a way to reclaim Kenya’s place as a regional sports hub, strengthen its reputation with the African Union, and pave the way for a more ambitious prize: co-hosting the Africa Cup of Nations (AFCON) in 2027.

Read More on why sports analysts argue that if CHAN is to have a lasting legacy, the benefits must go beyond a one-month spike in business and fanfare. 

Capital Markets 

Investing in Nairobi Stock Exchange (NSE) stocks in Kenya can be exciting, but without clear investment goals, it’s easy to feel overwhelmed. If you’re thinking about buying shares through the NSE, the smartest first step isn’t picking a company, it’s setting clear investment goals. Read more about why it is important to set clear investment goals »»»

Tech Frontier

Listed telco giant Safaricom is upgrading its M-Pesa platform to handle up to 8,000 transactions per second (TPS) by the end of 2026, doubling its current peak capacity of 4,000 TPS. Watch this illuminating interview with Felix K. Rop, Head of Financial Services Technology at Safaricom, as he explains why the telco is investing more resources to upgrade M-Pesa.

Premier Bank, a Sharia-compliant financial institution, has launched a new digital banking ecosystem dubbed Premier Connect that integrates mobile apps, USSD, international remittances, and wearable payment devices. Read More.

Startups in Africa raised US$1.4 billion in the first half of 2025, a sharp 78% rise compared to the same period last year, marking a tentative recovery from the funding downturn that has gripped the continent since late 2022. Read More

The responsible deployment of AI, its investment potential, and economic growth are not mutually exclusive, Sultan Quadri, senior content strategist at TechPR Africa, writes in this illuminating treatise on why AI can be a powerful tool for advancing the African continent. Read More

Related: Last week, global payments platform Mastercard estimates there will be 230 million digital jobs in Sub-Saharan Africa, with the AI market on the continent projected to to nearly quadruple to US$16.5 billion by 2030. Read More about Mastercard’s latest whitepaper on the near future of tech in Africa.

Also Read 

On your watchlist 

Keep up with what’s happening on our X, Telegram and LinkedIn pages. Stay updated with the latest financial news on our website The Kenyan Wall Street.