KCB Group Plc has secured conditional approval from the Competition Authority of Kenya (CAK) to acquire Riverbank Solutions Limited. The green light comes with strict safeguards aimed at protecting third-party data and ensuring continuity of service for Riverbank’s existing clients. Data Ring-Fencing Mandated As part of the approval terms, CAK directed KCB to fully segregate all transactional, customer, and merchant data collected or processed through Riverbank’s platforms. This data must remain ring-fenced and cannot be accessed or used by KCB for any purpose beyond the operations of Riverbank itself. The condition is designed to prevent unauthorized access and uphold data…
Author: Muindi
Muindi
Experience working on communication and marketing departments and in the broadcast industry. Interested in sustainable development and international relations issues.
NCBA Group PLC, a leading financial services provider in East Africa, has received a Strategic Investment Proposal and Notice of Intention (NOI) from South Africa’s Nedbank Group Limited. The proposal outlines a tender offer to acquire approximately 66% of NCBA’s ordinary shares, giving Nedbank a controlling interest. The remaining 34% of NCBA shares will stay listed on the Nairobi Securities Exchange (NSE). “Nedbank intends to acquire 1,087,362,891 ordinary shares of NCBA Group PLC representing approximately 66% of the issued shares,” the offeror’s statement confirmed. Transaction Valuation and Offer Structure The planned acquisition values NCBA at 1.4 times its book value.…
The Central Bank of Kenya (CBK) has thrown its weight behind the proposed sale of the Government’s 15% stake in Safaricom PLC, framing it as a strategic solution to Kenya’s infrastructure financing challenges. With constrained fiscal space, weak revenue performance, and declining concessional financing, CBK sees the divestiture as a “positive and innovative financing mechanism” that avoids further debt accumulation. KES 244 Billion Windfall to Ease Domestic Borrowing and Interest Rates CBK estimates the transaction could generate approximately KES 242.8 billion, which would reduce the government’s reliance on domestic borrowing. This, in turn, is expected to lower interest rates and…
Kenya has opened the privatization of its state‑run petroleum transporter, Kenya Pipeline Company (KPC), through a landmark Initial Public Offering (IPO) expected to raise $824 million. The transaction marks the country’s first large‑scale Electronic IPO (E‑IPO) and is being positioned as a once‑in‑a‑generation listing designed to revive retail participation, deepen market liquidity, and broaden citizen ownership of one of East Africa’s most strategic infrastructure assets. Offer Structure and Timeline Detail Information Offer period 19 Jan – 19 Feb 2026 Trading start 9 Mar 2026 Segment Main Investment Market Segment (MIMS), NSE Shares offered 11.81 billion Offer price KES 9.00 per…
Kenya’s diaspora remittance inflows totaled USD 435.5 million in December 2025, down from USD 445.4 million in December 2024, representing a 2.2% decline. The slowdown in December capped the year, reflecting global economic pressures and seasonal variations in transfers. Annual Remittances Edge Up to USD 5.04 Billion Despite the December dip, total remittances for 2025 increased by 1.9% to USD 5,037 million, compared to USD 4,945 million in 2024, according to the Central Bank of Kenya (CBK). This growth underscores the resilience of Kenya’s diaspora community, whose contributions remain a source of foreign exchange earnings and support for the country’s…
Karen Basiye, Director of Sustainable Business, Social Impact, and Foundations at Safaricom, has been honored as the Schwab Foundation Corporate Social Innovator of the Year 2026. This prestigious award, presented in partnership with the World Economic Forum, celebrates leaders who integrate purpose into profit and drive systemic change across industries. Her recognition underscores Safaricom’s belief in the “Spirit of Safaricom”, the conviction that business thrives when society thrives. Championing Climate Action and Digital Inclusion At Safaricom, Karen has been instrumental in embedding social and environmental impact into the company’s DNA. Her leadership spans: Climate Action – advancing sustainability and resilience…