Starlink : A Slow But Steady Ascent!

Howdy! It's Brian from The Kenyan Wall Street. In the latest data from the Communications regulator, Starlink has recorded a growth in subscribers between October and December last year.

Also, here is what is inside the Supplementary Budget and the latest Kenyan startup to receive VC funding.

Starlink : A Slow But Steady Ascent!

Starlink’s Kenyan footprint is still expanding—according to the Communications Authority of Kenya—with its subscriber base surging nearly 2,000% since its 2023 debut. In just one quarter (October, November, and December 2024) satellite internet usage (Starlink being the dominant one) skyrocketed by 74.9%, showing Kenyans are increasingly looking beyond fiber and mobile data. Starlink now commands 1.1% of Kenya’s fixed data market—(19,403 subscribers - up from over 17,000 in the preceding quarter) . Comparatively small but growing, as legacy ISPs like Safaricom (36.1%) still dominate.

Price cuts have been Starlink’s secret weapon, slashing hardware costs from KSh 89,000 to KSh 45,500 and introducing data plans as low as KSh 1,300 per month. More than a third of fixed internet users now demand speeds between 10 Mbps and 30 Mbps, shifting away from sluggish connections. Here is more »»»»»

Today's Poll

⛽ RUBiS Fuels the Revival of National Oil

The Kenyan government has transferred control of over 99 National Oil Corporation of Kenya (NOC) fuel stations to French energy firm RUBiS Energy Kenya in a non-equity strategic partnership. The restructuring aims to rescue NOC, which is burdened with KES 8.3 billion in debt and a negative balance sheet. NOC will be split into three subsidiaries: Upstream (exploration), Trading (strategic stock management), and Downstream (fuel marketing), with RUBiS managing the latter. RUBiS will invest KES 3 billion in working capital and another KES 3 billion to revamp the fuel stations, in exchange for 30% of the profits from fuel sales. The move is intended to stabilize NOC’s downstream operations while keeping key national assets under government control. Officials say the partnership leverages private sector expertise to improve efficiency and financial sustainability. More on this story»»»»»

Budget Gymnastics: Cutting to Spend More

The Kenyan government’s latest budget shuffle resembles a magician’s trick—development funds vanish while recurrent spending gets bloated. A hefty KSh 51 billion has been axed from crucial projects—everything from donor funding for TB, HIV, and Malaria to power generation and water sanitation initiatives—but somehow overall spending still climbs by KSh 98.8 billion. Water and ICT take a hit, but ministerial budgets swell by KSh 85.9 billion. Lawmakers blather about fiscal discipline, yet the cuts seem strategically aimed at development rather than tightening belts across the board. The Bottom-Up Economic Transformation Agenda (BETA) now looks more like a Bottomed-Out Budgetary Transformation. Folks, always remember when the government talks about austerity, what it means is cutting funding here and adding it to an even more ludicrous pocket there. Here is the full report »»»»»

Kenyan Startup garners millions in Seed Funding

There has been a drought of African startups announcing how much they have raised, a phenomenon we shall explore in detail very soon 😉. Kenyan logistics technology startup—Leta—has broken the silence, announcing it has secured US$5 million in seed funding to expand its platform aimed at reducing supply chain costs across Africa, a continent where businesses pay up to four times the global average to move goods.The funding round, led by European venture capital firm Speedinvest, saw participation from Google’s Africa Investment Fund and Equator VC. Read the article for more details »»»»»

Editor's Picks

♦️ President William Ruto has assented to the Supplementary Appropriation Bill, unlocking funds for various activities in the government for the last quarter of this fiscal year. Here is what is encapsulated in the bill»»»»

♦️ The CEO of Rwanda’s mining regulator is among nine individuals and one company that have been added to European Union (EU) sanctions over the ongoing conflict in eastern DRC. Here's what's happening in the region»»»»»

On your watchlist

In this exciting first episode of ‘Her Leadership Sn 2’, we sit down with the remarkable Kanyi Mwangi, the Communications Director for East and West Africa at Mastercard and one of the Top 25 Women in Digital in 2024

More Stories:

• Insurance. Turaco and M-Kopa’s tech-Insurance cover targeting everyday earners not able to access alternative products offered by big players in the private health insurance industry has gained one million customers in a year.

• Tech. Google is doubling down on Africa’s small business sector with the 2025 edition of its Hustle Academy—an initiative designed to equip entrepreneurs in Kenya, Nigeria, and South Africa with the skills to grow their enterprises in a progressively digital economy.

• Economy. Kenya has requested the International Monetary Fund (IMF) to drop the ninth review of the country’s existing loan program—tagged at over KSh 460 billion—and requested a fresh arrangement instead.

• Infrastructure. Ethiopia is taking a major step toward its ambitious goal of becoming Africa’s leading aviation hub after signing an agreement with the African Development Bank (AfDB) to support the construction of a new US $7.8 billion international airport.

Any company, any size, and in any industry can enter for a chance to be recognized by The Kenyan Wall Street’s Best Places to Work 2025 awards. The survey completion for the 2025 Awards is required by midnight on Friday, 26th September. Participate here»»»»»

Yesterday's Poll Results 

Do you think Kenya's pursuit of a new IMF deal is justified?  

🟨🟨🟨🟨⬜️⬜️ Yes (45%)

🟩🟩🟩🟩🟩🟩 No (55%)