Author: Muindi

CIC Insurance Group PLC (CIC) says it had a landmark year of inclusive growth and sustainability impact across Kenya, Uganda, South Sudan, and Malawi, as it unveiled its 2024 Sustainability Report themed Driving Financial Inclusion, Creating Sustainable Impact. Microinsurance Uptake Surges as Trust Deepens CIC recorded a significant rise in microinsurance policies—from 11% in 2023 to 18% in 2024—highlighting growing trust and uptake among underserved segments, including low-income earners and informal businesses. “Our microinsurance offering is designed to push the frontiers of inclusion and accessibility in insurance coverage, driving resilience and dignity,” said Group Managing Director & CEO, Mr. Patrick…

Kenya’s central bank lowered its benchmark lending rate by 25 basis points to 9.50% on August 12, marking the seventh consecutive cut. The Monetary Policy Committee (MPC) said it saw room to ease monetary policy further, citing stable inflation and the need to boost private sector lending. “The Committee concluded that there was scope for a further easing of the monetary policy stance to augment the previous policy actions aimed at stimulating lending by banks to the private sector,” said the Central Bank of Kenya (CBK) in its statement. Inflation Remains Within Target Range Consumer inflation rose to 4.1% in…

Airtel Africa and Vodacom Group have announced an infrastructure sharing agreement aimed at accelerating digital connectivity across East Africa, with a focus on Tanzania, Mozambique, and the Democratic Republic of Congo (DRC). The deal, pending regulatory approval, is designed to fast-track network expansion, reduce operational costs, and improve service delivery in underserved regions. A Strategic Move to Bridge Africa’s Digital Divide By sharing fibre networks and tower infrastructure, the two telecom giants plan to enhance 4G and 5G rollout, delivering faster internet speeds and more reliable coverage. The initiative will lower infrastructure costs while expanding access to mobile, fixed, and…

The wait is over. From 10 August 2025, the world’s greatest game returns, and SuperSport, your World of Champions, is your all-access pass to every goal, tackle, and unforgettable moment. Whether you are tuned in via DStv, Showmax, or GOtv, the biggest leagues and brightest stars are ready to light up your screen. The Beautiful Game, Live and Exclusive Catch every match from the Premier League, La Liga, and Serie A live and exclusively on SuperSport. From Anfield to Camp Nou, from Maradona to the Bernabéu, Europe’s elite are back to write the next chapter. Premier League: Will Liverpool defend…

Absa Bank Kenya PLC’s 2024 Sustainability and Climate Report reveals a robust and intentional shift toward sustainable finance, positioning the bank as a key enabler of Kenya’s low-carbon and inclusive economic transition. With the theme “Rooted in purpose, growing with impact,” the report underscores how sustainability is now embedded across Absa’s banking and finance operations. Sustainable Finance Deployment Absa disbursed a total of KES 47 billion in sustainable finance in 2024, targeting sectors and groups with high potential for inclusive growth and climate resilience. This includes: KES 25.1 billion through Timiza, its digital lending platform, which supports financial inclusion for…

Equity Group Holdings reported a robust 11.8% increase in profit before tax to KSh 41.54 billion, while profit after tax surged 16.9% to KSh 34.63 billion, underscoring strong performance across its East African footprint. Core Financial Metrics Net Interest Income: Up 9.1% year-on-year to KSh 59.30 billion, driven by loan book expansion and improved net interest margins across subsidiaries. Non-Interest Income: Rose 4.6% to KSh 42.78 billion, supported by higher fees, commissions, and forex trading gains. Operating Income: Increased 3.1% to KSh 100.20 billion. Earnings Per Share: Improved to KSh 8.83 from KSh 7.56 in H1 2024. Cost-to-Income Ratio: Declined…