Author: Korir Issa

Standard Bank Group, trading as Stanbic Bank in Kenya and Africa’s largest bank by assets, has partnered with Safaricom Telecommunications, Kenya’s leading telecommunications provider, to deliver USD 138 million (KES 17.94 billion) in funding to Safaricom Telecommunications Ethiopia PLC (STEP). The facility positions Standard Bank as the sole arranger, lender, and facility agent, while also providing advisory support. The financing underpins Safaricom’s ongoing rollout of digital infrastructure and services in Ethiopia, one of Africa’s fastest‑growing telecom markets. Regional Impact Dr. Joshua Oigara, Regional Chief Executive for East Africa, Standard Bank Group, stated: “This partnership reflects our commitment to enabling sustainable growth across the…

Since the beginning of 2025, Kenya has faced significant economic challenges, leading to the closure of numerous companies, while others have ceased operations or entered receivership. Rising operational costs, financial instability, and post-pandemic pressures have reshaped the corporate landscape. Angaza Kenya Ltd Voluntary Liquidation Angaza Kenya Ltd has commenced a members’ voluntary liquidation process, according to a public notice dated December 10, 2025. The move follows a resolution passed during an Extraordinary General Meeting (EGM) on November 24, 2025. “Notice is hereby given that the following Special Resolution was passed at an Extraordinary General Meeting of the members of ANGAZA…

The National Assembly has invited public submissions on the Government’s proposal to sell part of its stake in Safaricom PLC. The planned divestiture represents a new stage in Kenya’s privatisation and resource‑mobilisation strategy. In a notice dated 8 December 2025, the Departmental Committee on Finance and National Planning, together with the Public Debt and Privatisation Committee, invited Kenyans to submit memoranda before 8 January 2026. “Now therefore, in compliance with Article 88(1)(b) of the Constitution, the Clerk of the National Assembly hereby invites the public and stakeholders, including shareholders, management, employees, customers, regulators and interested parties to submit memoranda on…

Kenya’s private sector is closing the year on a high note, recording its sharpest rebound in more than five years in November. The latest Stanbic Bank Kenya Purchasing Managers’ Index (PMI) shows that business activity surged, fueled by stronger consumer spending, easing price pressures, and a wave of new orders. Surge in New Orders and Sales Growth The upswing was anchored by the fastest rise in new business since 2020, as firms reported improved customer purchasing power and strong responses to new product launches and marketing campaigns. Sales growth was broad‑based, cutting across all five sectors tracked by the survey.…

Uchumi Supermarkets has posted a remarkable turnaround in its FY25 management accounts, swinging to a KSh8.8 million net profit from a KSh49.7 million loss in FY24. Sales surged 88% year‑on‑year to KSh123 million, underscoring the retailer’s recovery momentum after years of restructuring and operational challenges. Revenue and Margins Sales climbed to KSh123 million, reflecting stronger trading activity across outlets. Gross profit rose 79% to KSh27.7 million, delivering a margin of 22–23%, showing Uchumi is rebuilding profitable volumes rather than chasing growth at any cost. Other Income and Total Earnings Other income jumped 363% y/y to KSh62.7 million, driven by asset‑related…

Kenya has moved to appeal last week’s decision by the East African Court of Justice (EACJ) suspending implementation of the EU–Kenya Economic Partnership Agreement (EPA), a ruling that has unsettled exporters who rely on Europe as their top market. Trade and Industry Cabinet Secretary Lee Kinyanjui confirmed that the government has engaged the Attorney‑General and initiated “appropriate appellate steps” to set aside the injunction and ensure uninterrupted access to the EU market. Government Response The ministry emphasised that, although the ruling has created uncertainty for traders, commercial arrangements with the EU remain protected. Statement on a ruling by the EAC…