Author: Muindi

The Kenyan government plans to discontinue the decade-old examination fee waiver in 2026 and shift to a targeted subsidy model for national exams. This means parents will generally be required to pay for their children’s national examination fees, including the Kenya Certificate of Secondary Education (KCSE), Kenya Primary School Education Assessment (KPSEA), and Kenya Junior Secondary Education Assessment (KJSEA, unless they are identified as “needy” through a yet-to-be-detailed means-testing system. John Mbadi, Cabinet Secretary for National Treasury and Economic Planning, announced the policy change, emphasising fiscal responsibility and fairness. He argued that parents who can afford high tuition fees for…

Michael Joseph is stepping down as Board Chairman of Kenya Airways PLC, concluding an eight-year tenure. His departure was confirmed in a notice issued ahead of the airline’s 49th Annual General Meeting (AGM) on June 13, 2025. Kenya Airways stated that Joseph “will not stand for re-election” as he has “reached the maximum term allowed under the Board Charter.” The notice further clarified: “Mr. Michael Joseph retires in accordance with Article 69 of the Company’s Articles of Association and is not eligible for re-election having attained the maximum tenure under the Board Charter.” Joseph was appointed Chairman and Independent Non-Executive…

NCBA Group Plc announced a net profit of KSh 5.5 billion for the first quarter of 2025, marking a 3% increase year-on-year from KSh 5.3 billion in Q1 2024. This growth was fueled by an 8% rise in operating income and a notable improvement in net interest margin (NIM) to 6.1%, which is the highest in recent years. Profit before tax (PBT) saw a 4.5% increase, reaching KSh 6.8 billion from KSh 6.5 billion in the comparable period. Despite the positive earnings, the group’s balance sheet contracted. Customer deposits decreased by 9.5% to KSh 496 billion, and total assets were…

Family Bank Group reported a 15.4% year-on-year increase in net profit for the first quarter ended 31 March 2025, reaching KSh 1.05 billion—the first time the bank has surpassed the KSh 1 billion profit mark in a single quarter. Key Financial Performance Drivers Total interest income grew by 23%, from KSh 4.46 billion in Q1 2024 to KSh 5.48 billion. Net interest income surged by 34% to KSh 3.25 billion, driven by higher returns from government securities and an expanding loan book. Non-interest income increased by 44% to KSh 1.71 billion, supported by elevated fees and commissions on loans. However, forex trading income declined sharply by 71%, falling to KSh 93.6 million from KSh 327.5…

On Tuesday, May 20, 2025, Uganda’s parliament passed a controversial bill allowing military tribunals to try civilians, despite a January Supreme Court ruling banning such trials for lacking fairness and legal competence. The opposition, rights groups, and critics condemned the move as unconstitutional and a threat to democracy ahead of the 2026 elections. The law, in use for two decades, has been criticised by opposition leaders and Human Rights Watch for failing international judicial standards, using torture-extracted evidence, and targeting government critics. The military denies these claims. Opposition Slams New Law as Unconstitutional The new bill permits civilian trials in…

Absa Bank Uganda has appointed David Wandera as its new managing director, following regulatory approval from the Bank of Uganda. The appointment, effective May 5, 2025, marks a historic milestone as David becomes the first Ugandan to hold this position in the bank’s over 90-year history in the country. David Wandera is a seasoned banker with over 20 years of extensive experience in business leadership, financial management, strategy, and stakeholder engagement. Before this appointment, he served as executive director at Absa Bank Uganda, where he was responsible for driving operational efficiencies and leading the bank’s Financial Markets division. David is…