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1 week ago | 
khusoko.com | Isaac Korir
BK General Insurance Ltd., a subsidiary of BK Group Plc, along with Sonarwa General Insurance Ltd and Sonarwa Life Assurance Company Ltd., subsidiaries of the Rwanda Social Security Board (RSSB), have announced their intention to merge and establish a new insurance group.
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1 week ago | 
khusoko.com | Isaac Korir
Tullow Oil will sell its entire working interests in Kenya, held through its subsidiary Tullow Kenya BV, to Gulf Energy, a Kenyan energy and infrastructure group, for a total consideration of $120 million. The transaction is structured to provide Tullow, the London-listed exploration firm, with near-term cash receipts of $80 million and a back-in right for a 30 per cent stake in potential future developments at no cost.
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1 week ago | 
khusoko.com | Isaac Korir
Kenya’s current account deficit for the 12 months ending February 2025 narrowed slightly to 3.1% of gross domestic product (GDP), an improvement from the 3.3% recorded during the same period in 2024.
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2 weeks ago | 
khusoko.com | Isaac Korir
Kenya Power is set to expand rural electrification by connecting 150,000 customers to the grid under the sixth phase of its Last Mile Connectivity Project (LMCP). This expansion, financed by the African Development Bank (AfDB), will focus on 45 counties across Kenya, excluding Nairobi and Mombasa. This latest phase marks the third instance of AfDB funding for the LMCP, which has already connected over half a million Kenyans in its initial phases.
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2 weeks ago | 
khusoko.com | Isaac Korir
The Monetary Policy Committee (MPC) of the Central Bank of Kenya (CBK) on Tuesday eased its monetary policy stance, lowering the benchmark Central Bank Rate (CBR) by 75 basis points to 10.00 per cent from 10.75 per cent. In a move aimed at enhancing the effectiveness of its policy implementation, the MPC also approved a substantial narrowing of the interest rate corridor around the CBR, from ±150 basis points to ±75 basis points.
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3 weeks ago | 
khusoko.com | Isaac Korir
Diageo Plc has entered an agreement to sell its 54.4% shareholding in Seychelles Breweries Ltd. to Phoenix Beverages Ltd., a subsidiary of IBL Ltd. This divestment marks Diageo’s third sale of African assets within the past year. Phoenix Beverages Ltd. (PBL), the largest brewer and soft drink bottler in Mauritius, will acquire the stake from Diageo Holdings Netherlands B.V. and Guinness Overseas Limited, both members of the Diageo Group, for approximately $80 million.
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3 weeks ago | 
khusoko.com | Isaac Korir
Kenya’s inflation rate rose to 3.6% in March, marking a fifth consecutive monthly increase from 2.7% in October, according to the Kenya National Bureau of Statistics (KNBS). This increase from 3.5% in February was primarily driven by rising food and non-alcoholic beverage prices. In the period, the food index increased to 6.6% year-on-year, with significant price increases in sukuma wiki (6.2%), potatoes (4.5%), and maize (3.3%).
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3 weeks ago | 
khusoko.com | Isaac Korir
Lipa Later, a Kenyan digital consumer credit provider, has been placed under administration, with Joy Vipinchandra Bhatt of Moore JVB Consulting appointed as administrator effective March 24, 2025. This move transferred control of the company’s operations and assets to Bhatt, effectively ousting the previous management. This development follows a period of financial instability for Lipa Later, despite a recent KSh 1.36 billion ($9.88 million) funding round intended for African expansion.
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1 month ago | 
khusoko.com | Isaac Korir
NCBA Group has completed the rebranding of AIG Kenya Insurance Company to NCBA Insurance Company following its acquisition of a controlling stake in 2024. The insurer now operates as the seventh subsidiary within the NCBA Group’s portfolio. “This rebranding to NCBA Insurance Company will enhance our market competitiveness and solidify our position as a trusted insurance solutions partner, aligning with the Group’s 2025 customer obsession mission,” stated John Gachora, NCBA Group Managing Director.
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1 month ago | 
khusoko.com | Isaac Korir
The Co-operative Bank of Kenya reported its highest-ever profit, closing the 2024 financial year with KSh 34.8 billion, a 7.5% increase from the KSh 32.4 billion recorded in 2023. After-tax, this translates to a profit of KSh 25.5 billion in 2024, compared to KSh 23.2 billion in 2023, representing a 9.8% growth.
