Author: Muindi

Kenya’s annual inflation rate climbed to 6.7% in May 2026, up from 5.6% in April, pushed by rising fuel costs, a collapse in vegetable supply, and persistent pressure on household essentials. The reading marks the highest rate since January 2024 and places inflation near the upper limit of the Central Bank of Kenya’s preferred band of 2.5% to 7.5%. The Kenya National Bureau of Statistics released the figures on Friday. Transport, food, and housing costs together account for 57% of the inflation basket’s weight and all three moved higher in May. The timing sharpens focus on the CBK’s next Monetary…

Absa Bank Kenya recorded its first decline in quarterly profit after tax since 2017, as falling interest rates squeezed revenue across both funded and non-funded income lines and a sharp, unexplained surge in staff costs added pressure to an already compressed margin environment. The bank posted a profit after tax of KSh 5.31 billion for the three months ended March 31, 2026, down 13.9% from KSh 6.17 billion in the same period a year earlier — a peak that now marks the high watermark before the current pullback. The result represents only the second revenue contraction in 20 years of…

Kenya’s Capital Markets Authority has upgraded three existing market intermediaries to full investment bank status, a move that brings the total number of licensed investment banks operating in the country to 22 and signals a deliberate push to deepen the market’s capacity for capital raising, advisory, and investor services. The regulator announced the approvals on Thursday, confirming that Cinemark Consult Ltd, Fintrust Securities Ltd, and AIB-AXYS Africa Ltd had each received upgraded permits. None of the three are new entrants. All operated previously under narrower intermediary licences, and their elevation reflects a broader regulatory priority: reducing the dominance of a…

Family Bank delivered its strongest quarterly result on record in the three months ended March 31, 2026, posting profit after tax of KSh 1.60 billion, a 52.6% increase from the same period last year. The result arrives as the lender prepares for a debut on the Nairobi Securities Exchange through a listing by introduction, advised by Standard Investment Bank. Interest Income Drives the Headline Number Net interest income powered the result, rising 45.5% to KSh 4.72 billion from KSh 3.25 billion in Q1 2025. Total interest income grew 26.6% to KSh 6.94 billion while interest expenses fell 1.0% to KSh…

Ethio Telecom traded on the Ethiopian Securities Exchange for the first time on May 26, becoming the first state enterprise and the first non-financial company to list on the Addis Ababa bourse under the ticker TELE. The debut closes a two-year transformation that began in June 2024, when the company converted from a closed government monopoly into a public share company. A Milestone for the Exchange, Not Just the Company The listing also marks a significant moment for the ESX itself. The exchange launched in January 2025 and now carries four listed equities, following earlier introductions by Wegagen Bank, Gadaa…

Kenya’s small businesses employ more than 80% of the country’s workforce, yet many owners still lack the digital skills to compete in a market reshaped by artificial intelligence. I&M Bank is closing that gap. Through a new partnership with Google, I&M Bank now offers eligible MSME customers free access to the Google Hustle Academy, a bootcamp programme that teaches practical AI and digital skills to help entrepreneurs market smarter, sell more, and build businesses that last. Why This Matters Now AI tools are no longer a luxury reserved for large corporations. They are reshaping how businesses of every size operate,…