Author: Lorine Otamo

Moniepoint Group has appointed Rose Muturi as Chief Executive Officer for its Kenya business, a leadership move that signals the Nigerian fintech unicorn’s push to deepen its East African footprint. The appointment follows Moniepoint’s acquisition of a 78 percent stake in Sumac Microfinance Bank in March, a deal that gave the company a licensed foothold in Kenya’s tightly regulated banking sector. Muturi will steer Moniepoint’s overall growth strategy in the country. Sumac Microfinance Bank, meanwhile, continues to run under its own leadership team. A Moniepoint spokesperson confirmed the split in roles directly, telling reporters that Muturi has been brought on…

Stanbic Bank Kenya has named Michael Mutiga as its new Chief Executive Officer, with the appointment taking effect on August 1, 2026, subject to regulatory approval. The move brings a banker with two decades of experience across corporate finance, telecommunications and digital financial services to the helm of one of Kenya’s leading lenders. From Safaricom to Stanbic Mutiga joins Stanbic from Safaricom, where he served as Chief Business Development and Strategy Officer. In that role, he led the telecom’s business development and transformation agenda, overseeing strategic partnerships, mergers and acquisitions, funding strategy and asset optimization. He joined Safaricom in May…

Motorists across Kenya will pay the same price at the pump for a third straight month. The Energy and Petroleum Regulatory Authority confirmed on Tuesday that maximum retail prices for Super Petrol, Diesel and Kerosene stay unchanged for the period running July 15 to August 14, 2026, even as global oil markets swing on tension in the Middle East. The Treasury extended a cut to Value Added Tax on petroleum products, keeping the rate at 8 percent instead of the standard 16 percent, for another three months through mid October. Energy and Petroleum Minister Opiyo Wandayi also confirmed a subsidy…

TradeMark Africa has appointed three new directors to its board. The move strengthens leadership as the organisation pushes further into its 2023 to 2030 strategy, which aims to expand trade facilitation work across the African continent. The new board members are Dr Monique Nsanzabaganwa, Rwanda’s former African Union Commission deputy chairperson; Safia Boly, an investment and agriculture expert from Mali; and Jaswinder Bedi, a Kenyan industrialist. Their appointments arrive as TMA accelerates plans to build trade that is more inclusive, greener and digitally enabled, while extending its reach beyond East Africa into other regions of the continent. TMA’s current strategy…

Equity Bank has placed the luxury Glee Hotel under administration, escalating a debt battle that has run through Kenya’s courts since late 2025. The bank appointed Kamal Anantroy Bhatt of Anant Bhatt LLP as administrator, effective July 6, 2026, giving him full control of the hotel’s assets and daily operations. The move follows a reported default on loans exceeding Sh8 billion. Court filings referenced in the ongoing dispute put the figure at Sh8.267 billion, while a bank commissioned valuation places the property’s open market worth near Sh9.5 billion. Under the administration order, the directors of Glee Hotel Limited lose their…

I&M Group has appointed Dorine Nalo to head the I&M Foundation, effective immediately. She takes charge of an organization that channels the banking group’s community investment, partnerships and sustainability work across East Africa. Nalo joins with close to two decades of experience spanning social impact programs, technology driven change management and donor funded development work. Her career has taken her across Kenya, Uganda, Tanzania, Djibouti, Zambia, South Africa, Egypt and South Sudan, where she designed digital transformation strategies and managed programs for organizations including the Gates Foundation, German Development Cooperation, Microsoft and USADF. What the role involves Nalo will set…