Author: Korir Issa

Thousands of commuters across major towns in Kenya woke up stranded on Monday morning as matatu operators grounded their fleets in protest against soaring fuel prices, exposing the domestic cost of a war Kenya did not start and cannot stop. The Transport Sector Alliance, in a joint statement issued on Sunday 17 May, announced a nationwide shutdown of public transport operations in response to the latest fuel price increase gazetted by the Energy and Petroleum Regulatory Authority. The Truckers Association of Kenya joined the action hours later, raising the prospect of supply chain disruptions extending well beyond the capital. Mbadi…

Diamond Trust Bank Kenya earned its sharpest net interest income growth in recent memory, posting a first quarter profit after tax of KSh 3.5 billion for the three months to March 2026, up 7.7% from KSh 3.2 billion a year earlier. The result was driven by widening interest margins and falling funding costs, though a 151.8% surge in loan loss provisions limited how far that income gain translated into bottom line growth. Falling Funding Costs Power a 30.9% Jump in Net Interest Income Interest income rose 10.3% to KSh 16.2 billion, while interest expenses fell 12.2% to KSh 6.1 billion…

The Energy and Petroleum Regulatory Authority (EPRA) has raised fuel prices for the period running from 15 May to 14 June 2026, the second consecutive month of increases as disruptions to global oil supply routes continue to lift the cost of imported petroleum products. The announcement was signed by Dr (Eng.) Joseph Oketch, Acting Director General, on 14 May 2026. What You Pay at the Pump From 15 May In Nairobi, super petrol now retails at KShs 214.25 per litre, up KShs 7.28 from KShs 206.97 in the previous cycle. Diesel rises KShs 46.29 to KShs 242.92 per litre. Kerosene…

Kenya Airways and Rubis Energy Kenya have signed a memorandum of understanding to build Africa’s first dedicated sustainable aviation fuel (SAF) refinery, targeting annual output of 32,000 tonnes at a projected cost of between $68 million and $79 million. The agreement establishes a framework for jointly engineering, financing and operating a facility near Jomo Kenyatta International Airport that will produce low-carbon fuel from locally sourced waste materials. By locating production adjacent to existing fuel infrastructure, the partnership cuts the logistical chain between manufacture and use — a key factor in making SAF commercially viable against conventional jet fuel. The signing…

Vodacom announced the acquisition of an additional 20% stake in Safaricom, raising its holding from 35% to 55% and establishing control of the Kenyan operator for the first time since its original investment in 2017. The group agreed to pay KES 34 per share for 8 billion Safaricom shares, a transaction valued at approximately R36 billion. The implied EV/EBITDA multiple for the controlling 20% stake stands at 6.9 times FY26 earnings. CEO Shameel Joosub said: “Acquiring a controlling stake in Safaricom strengthens our position as a market leader, while at the same time unlocks new opportunities to drive digital and…

The headline numbers from Safaricom’s FY2026 results are already in circulation. KSh 400 billion in Kenya service revenue. KSh 100 billion net income attributable to shareholders. A record KSh 80 billion dividend. But the audited financials published on 7 May 2026 contain a layer of data that the investor conference summaries did not reach: Fuliza disbursements up 49% to KSh 1.47 trillion, messaging revenue in structural decline, Safaricom holding 66.8% of Kenya’s GSM market, and Ethiopia’s birr depreciating 23.7% against the dollar in a single year. The Audited Group Picture The consolidated income statement confirms group service revenue of KSh…