Category: Business News
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Safaricom Launches 15th Sustainable Business Report, Reports Sh1.25 Trillion in Value Created for Kenya
Safaricom launched its 15th Sustainable Business Report at the Michael Joseph Centre in Nairobi on Tuesday, under the theme “Rooted in Impact, Connecting the Future,” reporting Sh1.25 trillion in value created for Kenyan society in the year to March 2026, a 10% increase from the previous year. Group CEO Peter Ndegwa said the report reflects…
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Victoria Commercial Bank marks 40 years in Kenya
Victoria Commercial Bank has marked 40 years in Kenya’s banking sector, tracing its journey from a poverty reduction initiative in the Lake Victoria Basin to a lender with Sh70 billion in assets and a growing focus on digital banking. The bank launched its anniversary celebrations with Voices of Unity, an interfaith musical programme and thanksgiving…
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Kenya’s Milk Crisis Exposes Deeper Weaknesses in Dairy Production
Falling processor deliveries are putting pressure on milk supplies as experts call for better fodder planning, farm management and investment in productivity Kenya’s worsening milk shortage is exposing deeper structural challenges in the country’s dairy sector, with experts warning that declining production cannot be blamed on weather conditions alone. Milk deliveries to processors have continued…
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Africa Capital Week adopts Nairobi Declaration on capital markets
Africa’s capital markets agenda has taken a step towards greater integration after more than 500 delegates from 16 African countries and beyond adopted the Nairobi Declaration for Deepening Africa’s Capital Markets during the inaugural Africa Capital Week 2026 in Nairobi. The declaration seeks to accelerate cross-border investment and strengthen Africa’s ability to mobilise and deploy…
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ShafDB sustainable finance framework meets global bond standards
Shelter Afrique Development Bank’s Sustainable Finance Framework has received confirmation from S&P Global Ratings that it aligns with international standards for green, social and sustainability bonds. The confirmation covers the International Capital Market Association’s Green Bond Principles, Social Bond Principles and Sustainability Bond Guidelines. S&P Global Ratings has also published the framework alongside its corresponding…
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Britam launches investment fund targeting Kenyan children
Kenyan parents are being encouraged to start investing for their children earlier as Britam Asset Managers launches a new investment account designed to give young people a longer runway to build wealth. The new product, KidNest, allows parents and guardians to begin investing for their children with contributions from as little as Sh1,000. The funds…
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Kenyan banks post Sh111.8bn four-month profit
Kenya’s commercial banks posted a combined pre-tax profit of Sh111.8 billion in the four months to April, reflecting stronger lending, wider interest margins and improving asset quality despite a challenging economic environment. The latest industry data shows the sector’s earnings increased by 13.8 percent from Sh98.2 billion recorded during the same period last year. The…
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How The Hub Karen redefined the shopping experience
Shopping malls have increasingly evolved beyond retail spaces as consumers seek experiences that combine shopping, dining, entertainment and relaxation in one location. For The Hub Karen, building a sense of community has been at the heart of that transformation over the last decade. As the mall celebrates its 10th anniversary, its management says the journey…
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ATIDI Profit Jumps 20% as Ruto Backs Finance Reforms
The African Trade and Investment Development Insurance (ATIDI) reported a 20% increase in profit for 2025 as African leaders renewed calls for stronger continental financial institutions to drive development and reduce dependence on external financing. Speaking during ATIDI’s 26th Annual General Meeting in Nairobi, President William Ruto urged African countries to strengthen homegrown financial institutions…
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KCB Launches Shariah-compliant Payment Card
KCB Bank has launched a Shariah-compliant payment card and agency banking service under its Sahl Banking proposition, expanding access to Islamic banking products in Kenya. Developed in partnership with Mastercard, the Sahl Card enables customers to make everyday payments while adhering to Islamic finance principles. The bank also introduced the Sahl Agency banking network, allowing…
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Kenya Enforces 5% Penalty and Daily Interest for Delayed Gambling Payouts
Kenya’s gambling operators now face financial penalties for failing to pay winners within 14 days, under regulations that took effect on 1 July as the government tightens financial, technical and consumer safeguards under the Gambling Control Act, 2025. A licensee that misses the deadline must pay the Gambling Regulatory Authority a penalty equal to 5%…
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KOKO Networks Assets Up for Sale as Administrators Target $15 Million-Plus Deal
Administrators have begun marketing KOKO Networks’ assets in the first major step towards winding down the clean cooking company, seeking financially qualified buyers capable of completing transactions exceeding $15 million. Expressions of interest are due by 17 July for the integrated ethanol cooking technology and manufacturing platform, with PwC expected to shortlist bidders after the…
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High Court Upholds Sh350,000 Award Against Family Bank Over Delayed Fraud Response
The High Court has upheld a Sh350,000 compensation award against Family Bank Ltd, finding that the lender failed to secure a customer’s account promptly after she reported unauthorised mobile banking transactions. In a judgment dated 2 July 2026, Justice Benard Murunga dismissed the bank’s appeal and affirmed that Family Bank’s duty of care was fully…
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Jambojet Surpasses 10 Million Passengers as Market Share Grows
Low-cost airline Jambojet has surpassed the 10 million passenger mark, marking a key milestone as it continues to expand its footprint in Kenya’s domestic aviation market. The airline said it reached the milestone last week when a passenger arriving from Eldoret became its 10 millionth customer since the carrier began operations. The achievement comes amid…
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KIFWA Launches Digital Marine Cargo Insurance Platform
The Kenya International Freight and Warehousing Association (KIFWA) has rolled out a Digital Marine Cargo Insurance (DMCI) platform ahead of the implementation of mandatory marine cargo insurance requirements that take effect on July 1, 2026. The platform was developed in partnership with insurance companies including APA General Insurance, Britam General Insurance, CIC General Insurance, Old…
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Kenya Hits 84.1M Mobile Lines as Safaricom Extends Lead
Kenya’s active mobile subscriptions rose to 84.1 million in the three months to March 2026, reflecting a 7.4 percent increase from the previous quarter. The growth pushed the country’s mobile penetration rate to 157.7 percent, according to the latest sector statistics by the Communications Authority of Kenya for the third quarter of the 2025/2026 financial…
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KCB Opens 22,000 Agents to Airtel Money Customers
Airtel Money customers can now deposit and withdraw cash at more than 22,000 KCB Bank agents across Kenya following a new partnership between the two firms. The move is expected to expand access to financial services while strengthening interoperability in Kenya’s fast-growing digital payments ecosystem. Under the agreement, Airtel Money users will be able to…
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KCB and Inchcape Launch Financing Deal to Boost Farm Mechanization
Farmers can now access up to 95 percent financing to purchase New Holland tractors and farm implements following a new partnership between KCB Bank and Inchcape Kenya. The financing arrangement is expected to accelerate agricultural mechanization, one of the key challenges limiting productivity among small and medium-scale farmers across the country. Under the deal, farmers…
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Njoroge Leads Race as PGK Equator Tour Heads to Limuru
Kenya’s leading professional golfers will this week converge at Limuru Country Club for the third leg of the 2026 PGK Equator Tour, a circuit that is increasingly becoming a key pathway to international competition. The tour serves as the official qualification route to the Magical Kenya Open and contributes points towards qualification for the 2028…
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Shelter Afrique profit rises 20% as lending surges
Shelter Afrique Development Bank reported a 20 percent increase in profitability in 2025 as the pan-African lender expanded financing for affordable housing and urban development projects across the continent. The institution posted a comprehensive profit of $2.14 million for the year ended December 31, 2025, up from $1.79 million recorded in 2024. The improved performance…
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