The Competition Authority of Kenya (CAK) has authorised First Chartered Securities Capital Limited to acquire sole control of ICEA LION Insurance Holdings Limited. The decision moves LeapFrog Investments, which holds a 24.1% stake through a partnership with Prudential Financial, closer to leaving the insurer. Director-General David Kemei signed Gazette Notice No. 15918 on 21 August 2026 under section 46(6) of the Competition Act. The notice says the authority “has authorized the proposed transaction as set out herein.” It does not state the price or any conditions. Who owns ICEA LION now First Chartered Securities, controlled by the family of former…
Author: Muindi
Muindi
Experience working on communication and marketing departments and in the broadcast industry. Interested in sustainable development and international relations issues.
The Kenya Bankers Association (KBA) has asked the Central Bank of Kenya (CBK) to keep the Central Bank Rate (CBR) at 8.75% when its Monetary Policy Committee (MPC) meets on Wednesday, 7 October 2026. In Research Note No. 5 of 2026, published on 1 October, the association’s Centre for Research on Financial Markets and Policy said inflation sits inside the target range and the shilling has held steady. “With inflation within the target range, and exchange rate stability sustained, sustaining the current stance of monetary policy, to anchor the recovery in private sector credit and economic activity is appropriate,” the…
Bamburi Cement Plc wants to supply the cement and concrete for Aliko Dangote’s $16 billion oil refinery at Lamu. Construction began on Wednesday 30 September. Chief Executive Geoffrey Ndugwa said the company is pursuing the contract as part of its business development plans. He said Bamburi can compete to supply Dangote East Africa Petroleum Refinery & Petrochemical SEZ across the full build. What Bamburi is offering Officials have said the project will use locally made products, according to Ndugwa. Bamburi plans to propose Bamburi DuraCem Cement, a 42.5 grade speciality cement made in Kenya. The company says it resists sulfate…
Ecobank Transnational Incorporated (ETI) will mobilize $2.6 billion by 2030 to finance businesses owned by women and agricultural value chains across Africa. The Lomé headquartered group announced the plan on September 24, 2026, during its 40th anniversary celebrations. The group will split the money between two programs. Ellevate, its program for businesses owned and led by women, will receive $2 billion. Agricultural small and medium sized enterprises (SMEs) and related businesses will receive $600 million. $2 Billion Loan Book for Women Entrepreneurs Ecobank plans to build a $2 billion loan portfolio under Ellevate by 2030. The group says it has…
Milk shortages on supermarket shelves now show up in Kenya’s official figures. Deliveries to processors have dropped for three months in a row through July as drought, scarce fodder and costly feed cut output. What the Kenya Dairy Board data shows Formal milk intake fell to 81.32 million litres in July 2026, according to Kenya Dairy Board (KDB) data. That is 3.7 percent below June’s 84.44 million litres and 5.8 percent below July 2025. The slide began after deliveries peaked at 90.27 million litres in April. Intake has since dropped 9.9 percent in three months. In a September 1 statement,…
Absa Bank Kenya has teamed up with two United Nations agencies to unlock financing for solar-powered cold storage, targeting a $2.1 billion gap that leaves nearly half the country’s food production vulnerable to spoilage. The bank announced a strategic portfolio guarantee arrangement with the UN Capital Development Fund (UNCDF) and the UN Development Programme (UNDP) on Wednesday, September 24, in Nairobi. The partnership will let Absa expand asset-based financing to businesses investing in cold chain infrastructure, addressing losses that have plagued horticulture, dairy, fisheries, and meat value chains for years. How the Guarantee Works A portfolio-sharing guarantee from UNCDF sits…