Author: Lynet Awino

CIC Asset Management Limited grew its half year income by double digits, yet its balance sheet shrank and shareholders will receive no dividend, according to unaudited results released for the period ended June 30, 2026. The board, chaired by Cornelius Ashira, said it was pleased to report the figures, which show fund management fees climbing faster than the bottom line, a pattern that points to rising costs eating into the gains. Group Managing Director and CEO Patrick Nyaga and Managing Director Humphrey Gathungu also signed off on the release. Income Climbs, Expenses Climb Faster Fund management fees, the firm’s core…

Citibank Kenya will close its Mombasa branch on November 30, ending a coastal presence that began in 1989, as the bank moves to run all corporate banking services out of its Nairobi headquarters. The lender confirmed the move in a public notice, framing it as digital modernization rather than retreat. “This strategic optimization of our corporate banking network is part of Citi Kenya’s ongoing commitment to modernizing and digitizing banking services and has received all required regulatory approvals,” the bank said in the notice. It added that clients will keep full access to CitiDirect and other digital platforms, and that…

TPS Eastern Africa, the Nairobi Securities Exchange listed owner of the Serena Hotels chain, sank deeper into the red in the first half of 2026. The company posted a pretax loss of KES 75.2 million, a sharp reversal from the KES 1.2 million loss recorded in the same period last year. Revenue for the six months slipped 1.4% to KES 4.00 billion. Management pointed to softer international travel demand as the main drag on room and occupancy income. Other income offered some relief, climbing 17.5% to KES 220.9 million, but it wasn’t enough to offset pressure elsewhere in the business.…

Njerae has released two singles at once, and the pairing tells a fuller story than either track could alone. “On My Own,” featuring KayCyy, and “Let Them Know” arrived together today, giving listeners a portrait of a woman who can walk away from what hurts her and still make room for what surprises her. The two records sit on opposite ends of the same emotional map. “On My Own” leans into self worth and the decision to choose yourself. “Let Them Know” leans into surrender, the moment a guarded person lets a new connection show. Two songs, two emotional truths…

The Ministry of Agriculture and Livestock Development has announced a fresh round of input subsidies aimed at farmers hit by drought, cutting the price of a 50 kilogramme bag of fertilizer to KSh 2,000 and halving the cost of certified maize seed. The Ministry made the announcement in a press release dated August 24, 2026, signed off from the Office of the Cabinet Secretary. It said the measure is meant to cushion farmers from drought losses and help them return to production for the next planting season. What Changes for Farmers Under the new pricing, a 50 kilogramme bag of…

Hemas Holdings PLC has entered the East African market, acquiring a 75% stake in Twiga Stationers & Printers Limited for USD 16.2 million. The deal marks the Sri Lankan conglomerate’s first international acquisition and gives it a manufacturing base in Kenya, one of the region’s fastest growing consumer economies. Twiga ranks among Kenya’s leading stationery manufacturers. It owns three household names in the local market: Kasuku, CrownBird and Envoy. The company also exports across East Africa, which gives Hemas a launchpad into neighbouring markets rather than a single country footprint. Hemas completed the purchase through its subsidiary Atlas Axillia Company,…