Author: Korir Issa

Uber has pulled out of Nigeria and Uganda, ending a combined 22 years of ride hailing operations across both countries and narrowing its African presence to four markets. The company confirmed the exit in a statement issued to reporters and in a separate email sent directly to riders in both countries on Wednesday. Uber said the decision followed a full review of its business and would take effect immediately. “After a thorough review, we have taken the difficult decision to wind down operations in Nigeria and Uganda, effective September 2, 2026,” an Uber spokesperson said in the statement. “This decision…

The Kenyan government and traders in the consolidated cargo sector signed a communique on September 2, 2026, setting the customs valuation benchmark at Sh2 million, a figure below the Sh2.5 million level that applied before the Kenya Revenue Authority (KRA) raised it to Sh3.2 million on August 21. President William Ruto had already ordered KRA to reverse the Sh3.2 million benchmark and restore the Sh2.5 million cap on Wednesday, five days after the increase triggered a traders’ boycott and a tear gas response from police in Nairobi’s central business district. The communique, issued by the Ministry of Investments, Trade and…

The Agricultural Development Corporation (ADC) has disclosed receipt of a privately initiated proposal from Mt Elgon Orchards Ltd to develop an integrated avocado and berry farming, processing and export enterprise on roughly 1,000 acres of ADC land in Trans Nzoia County. ADC received the proposal on July 16, 2026, under Section 40 of the Public Private Partnerships Act, 2021. The corporation published the disclosure in line with a National Treasury circular that requires contracting authorities to notify the public whenever they receive an unsolicited proposal of this kind. What ADC Disclosed Item Detail Contracting Authority Agricultural Development Corporation PLC Proponent…

The Kenya Aviation Workers Union and three aviation bodies signed a return to work agreement on Monday, ending a strike that had disrupted flights at Jomo Kenyatta International Airport and other airports since August 30. Cabinet Secretary for Roads and Transport Davis Chirchir chaired the negotiations. Acting Kenya Civil Aviation Authority Director General Nicholas Bodo, Kenya Airports Authority Company Secretary Fridah Mbugua, Jambojet Managing Director Karanja Ndegwa and KAWU Secretary General Moss Ndiema signed the agreement. Central Organisation of Trade Unions Secretary General Francis Atwoli and Cabinet Secretary for Labour and Social Protection Alfred Mutua witnessed the signing, along with…

HFCB Group closed the first half of 2026 with its strongest six month performance on record, as profit, income, assets and deposits all reached new highs less than two months after the lender dropped the HF Group name it carried for decades. Profit after tax climbed 58.3% to KSh 988.33 million, net interest income rose 29.4% to KSh 2.64 billion, and customer deposits surged 29.7% to KSh 68.08 billion. Profit before tax jumped 74.3% to KSh 1.23 billion from KSh 702.89 million, crossing the KSh 1 billion mark in a first half for the first time. Profit after tax came…

Britam Holdings Plc grew profit after tax by 53.3% to KES 2.66 billion for the six months ended June 30, 2026, up from KES 1.74 billion a year earlier. Profit before tax climbed 52% to KES 3.82 billion from KES 2.51 billion, marking a strong opening chapter for the insurer’s 2026 to 2030 ASCEND strategy. The Nairobi listed insurer credited the growth to firmer underwriting margins and rising fee income, which cushioned a sharp drop in investment income during the period. Underwriting Gains Offset Weaker Investment Income Insurance revenue grew 13.7% to KES 22.39 billion from KES 19.69 billion, lifted…