Stories By Bernard Wafula
10 African countries with highest debt to China and how they used borrowed cash
Jun 09, 2025 at 03:59 PM
China’s lending to Africa is once again on the rise, with new figures revealing that Angola alone has borrowed Sh6.9 trillion over two decades, more than any other African nation...
Equity Group ushers in new chapter with sweeping board overhaul
Jun 09, 2025 at 07:32 AM
Equity Group is preparing to usher in a fresh chapter in its governance structure by replacing four Kenyan directors with six foreign nationals, as part of its strategic pivot towa...
Twiga Foods halts operations temporarily as it shifts to new strategy and location
Jun 09, 2025 at 06:50 AM
Twiga Foods, a prominent player in Kenya’s fresh produce and retail distribution sector based in Nairobi, has temporarily suspended its delivery operations as it undertakes a sig...
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Kenya loses Sh23.2 billion in gold each year as illicit exports dwarf official figures
Jun 05, 2025 at 11:32 AM
A new report has revealed that Kenya is quietly bleeding an estimated Sh23.2 billion annually through illicit gold exports, with smuggled consignments outweighing the country’s d...
CAK boss David Kemei appointed interim chairman of EAC Competition Authority
Jun 04, 2025 at 08:55 PM
David Kemei, the Director-General of the Competition Authority of Kenya (CAK), has assumed a critical role in shaping the regional economic landscape after being appointed as inter...
Safaricom unveils M-pesa Sokoni Festival with deals kuruka to celebrate 18 years
Jun 03, 2025 at 01:03 PM
Safaricom has kicked off a two-month countrywide festival showcasing exclusive offers and community initiatives, as it builds momentum towards its 25th anniversary in October....
Kenya's foreign debt surges to Sh11.36 trillion as interest payments soar
Jun 03, 2025 at 11:59 AM
Kenya's foreign debt ballooned to Sh11.36 trillion by March 2025, fuelling fresh anxiety over how the country will balance its loan obligations with the urgent need for development...
City Hall to expel hawkers from CBD and restrict their trade to designated zones
May 31, 2025 at 04:52 PM
Nairobi City County has announced that hawkers will no longer be permitted to operate within Nairobi’s Central Business District (CBD), as part of a new plan to reduce congestion...
Equity Group posts Sh15.4 billion post-tax profit despite 4 per cent drop in Q1 2025
May 29, 2025 at 11:13 AM
Equity Group has posted a Profit After Tax of Sh15.4 billion for the first quarter of 2025, supported by a rise in customer deposits, digital transaction volumes, and contributions...
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I&M Bank pre-tax profit grows to Sh5.9 billion in Q1 2025 as subsidiaries fatten
May 27, 2025 at 07:02 PM
I&M Group PLC registered a 16 per cent surge in profit before tax during the first quarter of 2025, reaching Sh5.9 billion compared to Sh5.1 billion in the same period last year....
World Bank blames wastage of funds for Kenya’s Sh9 trillion debt, big budget cut
May 27, 2025 at 06:14 PM
The Kenyan taxpayer is footing the bill for years of unchecked waste and mismanagement, with the government now forced to chop nearly Sh580 billion from its 2024/25 budget in a des...
Vivo Energy’s Kenyan revenues fall by Sh10.8 billion amid rising competition
May 27, 2025 at 01:23 PM
Vivo Energy’s Kenyan operations recorded a significant decline in revenues, falling by Sh10.8 billion in the year ended December 2024....
Absa Bank Kenya net profit increases to Sh6.2 billion in Q1 2025 as revenue drops
May 26, 2025 at 07:40 PM
Absa Bank Kenya recorded a net profit of Sh6.2 billion for the first quarter ended March 31, 2025, up 4 per cent from the same period last year, despite a drop in revenue and chall...
Why Kenya Government is planning to sell part of 35 per cent stake in Safaricom
May 26, 2025 at 11:33 AM
The National Treasury has confirmed plans to partially offload the government’s 35 per cent stake in Safaricom in an effort to generate Sh149 billion by the end of the 2025/26 fi...
Watu Holdings profit plunges 85 per cent to Sh157m in 2024 on rising loan defaults
May 23, 2025 at 05:33 PM
Watu Holdings, a Nairobi-based lender best known for financing boda boda riders, saw its 2024 profits plummet by 85 per cent to Sh157 million—a stark reversal from the Sh985 mill...
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NCBA appoints global banking veteran James Gossip as new Managing Director
May 23, 2025 at 02:16 PM
NCBA Bank Kenya PLC has named James M. Gossip as its new Managing Director (Executive), ushering in a fresh chapter of executive leadership intended to underpin its future growth t...
State to write off Sh6 billion in Hustler Fund loans as 10 million Kenyans default
May 22, 2025 at 08:19 PM
The government is considering writing off Sh6 billion in defaulted Hustler Fund loans after 10 million Kenyans borrowed small amounts and failed to repay, Principal Secretary for M...
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StanChart net profit drops to Sh4.8 billion in Q1 2025 as lending income falls
May 22, 2025 at 01:05 PM
Standard Chartered Bank Kenya has seen its net earnings for the first quarter of 2025 decline by Sh800 million, bringing profit after tax down to Sh4.8 billion from Sh5.6 billion p...
NCBA posts Sh5.5 billion profit as digital lending surges to Sh307 billion in Q1 2025
May 21, 2025 at 06:24 PM
NCBA Group reported a Sh5.5 billion profit after tax for the first quarter of 2025, marking a 3.0 per cent rise from Sh5.3 billion posted in the same period last year....
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Family Bank records Sh1.5 billion pre-tax profit in Q1 2025 after interest income rise
May 21, 2025 at 04:53 PM
Family Bank recorded a 15.4 per cent increase in profit before tax to Sh1.5 billion in the first quarter of 2025, up from Sh1.3 billion in the same period last year....
