Author: Korir Issa

Britam Holdings Plc, Kenya’s largest publicly listed insurer by market value, is preparing to enter the Democratic Republic of Congo (DRC) as part of its pan-African growth strategy.  “It’s public that we’re looking at Congo,” said CEO Tom Gitogo. “We intend to close this up as soon as possible because the opportunities that exist in the insurance space in DRC are enormous.” Britam views sub-1% insurance penetration across African markets as a major opportunity. “We are not yet even scratching the surface,” said Chairman Kuria Muchiru. “If we targeted a penetration of 15 per cent in the next five years,…

Nairobi-based Poa Internet has secured US$4 million (KSh 517 million) in debt financing from Finnfund, a Finnish development financier, to accelerate the rollout of affordable broadband services across Kenya. The investment will support Poa’s mission to close the digital divide by expanding high-speed internet access to underserved communities. Backed by Nokia Fibre, Poa Targets Underserved Estates The funding will enable Poa Internet to scale its infrastructure, with Nokia serving as the preferred fibre technology partner. The ISP currently holds 13% of Kenya’s ISP market share, having added 23,461 new subscribers in the June quarter alone. “With Finnfund’s financing and Nokia’s…

Kenya Airways (KQ) has reported a net loss after tax of Kes 12.15 billion for the first half of 2025, marking a dramatic reversal from the Kes 513 million net profit recorded during the same period in 2024. According to the airline’s consolidated income statement: Total income fell from Kes 91.49 billion in H1 2024 to Kes 74.5 billion in H1 2025 Operating loss stood at Kes 6.24 billion, compared to a Kes 1.3 billion operating profit last year Operating margin dropped to -8.4%, down from 1.4% Loss before tax reached Kes 12.17 billion, with a taxation benefit of Kes…

Kenya Vehicle Manufacturers (KVM) has restarted the local assembly of Volkswagen vehicles at its Thika plant, marking a renewed push to strengthen Kenya-Germany industrial cooperation and expand Kenya’s footprint in regional automotive manufacturing. The facility is now producing the Volkswagen Touareg, Tiguan, and T-Cross models under a Level 2 Completely Knocked Down (CKD) arrangement, a move expected to boost localisation, create jobs, and transfer modern automotive technologies into the Kenyan market. “Germany recognises the critical role that the automotive industry plays in driving economic development,” said Alexander Fierley, Germany’s Deputy Ambassador and Trade Counsellor, during a visit to KVM. “Our…

Diamond Trust Bank (DTB) Kenya has reported a 9.9% increase in after-tax profit for the six months ended June 2025, driven by strong growth in net interest income despite a lower interest rate environment. The lender posted a net profit of KES 4.77 billion, up from KES 4.34 billion in the same period last year. Net interest income rose 11.77% to KES 15.86 billion, supported by increased lending activity. Key Performance Highlights (H1 2025 vs H1 2024) Metric Jun 30, 2025 Jun 30, 2024 YoY Change Net Interest Income KES 15.86B KES 14.19B +11.77% Non-Interest Income KES 6.07B KES 6.39B…

Kenya has received a boost in investor confidence after global credit rating agency S&P Global Ratings upgraded the country’s long-term sovereign credit rating to ‘B’ from ‘B-’, with a stable outlook, while affirming the short-term rating at ‘B’. The upgrade reflects growing optimism about Kenya’s fiscal outlook and marks a positive shift in how international markets may view the country’s credit risk. S&P also raised Kenya’s transfer and convertibility assessment to ‘B+’ from ‘B’, citing improved confidence in the country’s ability to facilitate currency exchange and cross-border capital flows. “The stable outlook reflects our expectation that Kenya’s robust economic growth…