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Business
Mudavadi-Linked Investors Eye First Assurance Buyback
Just over a decade after divesting a controlling stake in First Assurance to Barclays Africa, a group of investors associated with Prime Cabinet Secretary Musalia Mudavadi is preparing to reacquire the insurance company from Absa in a transaction projected to be valued at a minimum of Ksh3.8 billion.This proposed deal
Esther Koimett Takes 17.48% Stake in Middle East Bank
Esther Jepkemboi Koimett, the former Principal Secretary of Kenya, has emerged as the largest individual shareholder of Middle East Bank Kenya, holding a remarkable 17.48% stake. This significant acquisition follows a multimillion-dollar inheritance from her late father, Nicholas Biwott, a distinguished businessman and former Cabinet minister.Recent ownership disclosures from the
Dangote Meets Canada PM to Boost Africa Trade and Investment
Aliko Dangote, Africa's wealthiest man and the President and CEO of Dangote Industries Limited, recently engaged in a pivotal meeting with Canadian Prime Minister Mark Carney to explore the potential for a dynamic partnership between Africa and Canada.During this crucial dialogue, Dangote emphasized the importance of enhancing trade and investment
Kenya Private Sector Returns to Growth as PMI Rises in July
Kenya's private sector experienced growth in July for the first time in five months, marking a vital step toward economic recovery. This positive trend comes after a challenging period characterized by weak consumer demand, high operational costs, and geopolitical uncertainties.The latest Stanbic Bank Kenya Purchasing Managers' Index (PMI) climbed to
Uchumi Pledges to Clear Remaining Debts Under Court-Approved CVA
Uchumi Supermarkets has taken a strong stance to fulfill all legitimate outstanding obligations to former employees and creditors. This commitment comes as the company faces scrutiny from Parliament regarding the implementation of its Court-approved Company Voluntary Arrangement (CVA).On Tuesday, August 4, 2026, the supermarket chain’s management provided this assurance while
Safaricom Explains Why Pochi la Biashara Hides Merchant Phone Numbers
Safaricom has provided clarity on the inability of customers to access a recipient's phone number after sending money to merchants via Pochi la Biashara. The telecommunications leader emphasizes that this restriction aligns with data privacy regulations that protect customers' personal information.On August 3, 2026, Safaricom responded to a query from
KRA Customs Revenue Hits Record Ksh988.78 Billion in FY2025/26
Kenya's remarkable achievement of Ksh988.78 billion in customs revenue is transforming the perspectives of importers and traders regarding compliance, technology, and border operations.In the 2025/2026 financial year, the Kenya Revenue Authority (KRA) Customs and Border Control Department surpassed its target of Ksh980.79 billion, achieving a historic revenue collection with a
Kenya Chosen as Launch Pad for Fast Rising African Ecommerce Platform Ivotia
The fast rising African ecommerce platform Ivotia has settled on Kenya as the ideal ground from which to launch its continental brand. The decision came after months of deliberation on whether to introduce Ivotia into Alkebulan through East Africa or South Africa. Kenya ultimately prevailed, owing to its favourable business environment
Kenya’s Economy Grows 5.3% in Q1 2026, Says KNBS
Kenya's economy experienced an impressive growth of 5.3% in the first quarter of 2026, up from 4.9% during the same period in 2025, as reported by the Kenya National Bureau of Statistics (KNBS) in their latest Quarterly Gross Domestic Product (GDP) Report.This positive data from KNBS indicates a robust economic