Business News
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Sanlam Kenya Rebrands to SanlamAllianz, Targets Top Three Rank
Sanlam Kenya has officially rebranded to SanlamAllianz Kenya as the listed financial services firm positions itself for accelerated growth and a top-three ranking in Kenya’s insurance industry. The name change to Sanlam Allianz Holdings (Kenya) PLC, now trading as SanlamAllianz Kenya, follows the recent joint venture between South Africa’s Sanlam and global insurer Allianz creating…
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Kalahari Cement Buys 27 Percent EAPC Stake in Sh 1.6B Deal
Kalahari Cement has signed a Sh 1.6 billion share purchase agreement (SPA) to acquire a further 27 equity stake in the East African Portland Cement Plc (EAPC) from the National Social Security Fund (NSSF). In a public notice, the company confirmed it would acquire 24.3 million ordinary shares at Sh 66 per share, subject to…
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KRA Gives Fuel Stations December 31 Deadline to Comply with eTIMS or Face Penalties
The Kenya Revenue Authority (KRA) has issued a fresh reminder to all petroleum product retailers to fully implement the Electronic Tax Invoice Management System (eTIMS) for fuel stations ahead of the December 31, 2025 enforcement deadline. In a public notice dated November 25, 2025, the tax agency emphasized that all fuel outlets were required to…
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Absa Bank Announces Shift to New Risk-Based Loan Pricing Model
Absa Bank Kenya has announced plans to transition all its loan products to a new Central Bank–mandated Risk-Based Credit Pricing Model (RBCPM), beginning December 1, 2025. The move aligns the lender with guidelines issued by the Central Bank of Kenya (CBK) aimed at standardizing how banks price credit according to customer risk profiles. Under the…
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Paramount Bank Hits Regulatory Milestone as Capital Rises to Sh3.1bn
Paramount Bank has crossed the Central Bank of Kenya’s (CBK) minimum core capital requirement of Sh3 billion, achieving a major regulatory milestone more than a month before the December 2025 deadline. The lender disclosed that its core capital reached Sh3.118 billion as of September 2025, a significant boost driven by a successful rights issue that…
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Kenya Approves Sh895.5 bn South Lokichar Oil Plan, First Oil Set for 2026
The government of Kenya approved the South Lokichar Basin Field Development Plan (FDP), the first petroleum project in the country to advance from exploration to full development and commercial production. President William Ruto, who signed instruments for the plan’s submission to Parliament for ratification, termed the approval a historic moment that signals Kenya’s shift toward…
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Kenya’s Sh12 Trillion Debt Puts Economy at Risk, World Bank Report Shows
Kenya’s fiscal space is tightening rapidly as high public debt and weak revenue collection push the country toward a critical economic turning point, the World Bank warns in its latest assessment. The findings are published in the Bank’s Country Focus Report, released Monday in Nairobi as part of the 32nd Kenya Economic Update. According to…
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Meet the Founder Driving Prime Brick Developers Growth
When Nordin Mohamed Ibrahim was still in university, he got a chance to work at a real estate company. One day, he met a group of friends in the same industry over a casual coffee. What began as a simple conversation turned into the foundation of one of Nairobi’s fastest growing real estate companies. “Each…
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Tanolope Consultancy Wins Starbrand Dairy Excellence Award
Tanolope Consultancy has been awarded Starbrand Status 2025 in East Africa under the Pan-African Dairy Excellence and Impact Award category for its pioneering work in transforming Africa’s dairy sector. The firm, which focuses on dairy business development, farmer training, and production and distribution of feeds, has been recognized as the Dairy Industry Starbrand. Tanolope Consultancy…
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Major Shift: KCB Moves to CBK’s Tough New Loan Model
Kenya Commercial Bank (KCB) has announced it will implement the Central Bank of Kenya’s (CBK) newly issued Revised Risk-Based Credit Pricing Model (RBCPM), with the transition set to begin on December 1, 2025. The bank issued a public notice informing customers that all new local currency variable-rate loans taken from that date will be priced…
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Choice Hotels Announces Major Expansion Into Kenya by 2026
Choice Hotels International has announced entry into the African market, unveiling plans to open three franchised hotels in Kenya by early 2026. The company’s global expansion ambitions is supported by a newly signed master development agreement that could see at least 15 more properties launched across sub-Saharan and southern Africa by 2030. The Kenyan portfolio…
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Safaricom Gets CMA Nod for Sh40bn Medium Term Note Plan
Safaricom PLC has secured approval from the Capital Markets Authority to establish a Sh40 billion Medium Term Note Programme, a move that positions the telco to raise long term funding as it expands its operations and sustainability projects. The CMA approval was issued on 7 November 2025 under the Capital Markets Act and the Public…
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KCB Profit Jumps to Sh47.3bn as Assets and Revenue Rise
KCB Group Plc posted a profit after tax of Sh47.3 billion for the nine months ending September 2025, powered by higher income across its business lines and tighter cost controls. The lender said the performance reflects strong resilience despite a difficult operating environment across its regional markets. The Group’s balance sheet expanded 2.6 percent to…
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Kakuzi Directed to Surrender 3,200 Acres as NLC Issues Binding Settlement Orders
Kakuzi PLC has been ordered to surrender 3,200 acres of its land after the National Land Commission (NLC) issued binding directives aimed at resolving long-standing historical land injustice claims involving communities around the company’s estates. In a notice to shareholders and the public, the company said the NLC had completed its investigative hearing and issued…
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CBK, CMA Announce Commencement of Virtual Assets Service Providers Act, 2025
The Central Bank of Kenya (CBK) and the Capital Markets Authority (CMA) have announced the official commencement of the Virtual Assets Service Providers (VASP) Act, 2025. The Act gazetted on October 21, 2025 came into effect on November 4, 2025, and establishes a legislative and supervisory framework for Virtual Asset Service Providers, including measures to…
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Pesapal, KCB Partner to Digitize Fuel Station Operations Across East Africa
Pesapal and KCB Bank Kenya have partnered in a region-wide initiative that will digitize operations for more than 10,000 fuel stations across East Africa by introducing advanced digital tools to improve efficiency, transparency, and access to financing in the petroleum retail sector. The integrated platform automates key processes such as fuel dispensing, sales tracking, inventory…
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CAK Clears Consult Bidco’s Takeover of Mace Consult Holding
The Competition Authority of Kenya (CAK) has approved the proposed acquisition of sole control of Mace Consult Holding Limited by Consult Bidco Limited, saying the deal is unlikely to weaken competition in Kenya’s project management consultancy market. In the notice, the Authority said it had given the approval unconditionally after determining that the merger would…
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Sanlam Allianz Completes Amalgamation of General Insurance Businesses in Kenya
Sanlam Allianz Holdings (Kenya) PLC has announced the completion of the amalgamation of the general insurance businesses of Sanlam General Insurance Limited and Sanlam Allianz General Insurance (Kenya) Limited. The consolidation follows regulatory approval from the Insurance Regulatory Authority (IRA) and the fulfilment of all other required corporate processes, culminating in the formal completion of…
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Men Dominate Mobile Money as Women Lag
Kenyan men continue to control most mobile money transactions, exposing a stubborn gender gap despite rising financial inclusion, according to the latest Central Bank of Kenya (CBK) report. In 2024, men accounted for 61 percent of all mobile money transactions across leading platforms including M-Pesa, Airtel Money and T-Kash, leaving women with just 39 percent…
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S&P Cuts Senegal to CCC+ as Hidden Debt Crisis Deepens, IMF Talks Stall
Credit ratings agency S&P on Friday downgraded Senegal’s long-term sovereign credit rating to “CCC+” from “B-”, citing the increasingly fragile debt position of the West African nation. The agency also placed Senegal on “CreditWatch developing,” indicating that a further downgrade is possible if the government struggles to refinance upcoming commercial debt maturities. “Public-sector borrowing needs…
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