Kevin Rotich

Nairobi

Business Editor at Capital FM (Nairobi, Kenya)

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Articles

Inchcape appointed local distributor of New Holland products

3 days ago | capitalfm.co.ke | Kevin Rotich

NAIROBI, Kenya, June 4 – Motor dealer Inchcape has been appointed the local distributor of New Holland products in Kenya. Under the deal, the firm will sell TD Straddle tractors, which are suitable for a wide range of applications; TS6 and 10S Series that are used for land preparation, cultivation, or haulage; and the TC Series combine harvesters. Starting from August 1, 2025, the firm plans to offer spare parts and other services to customers.
US firm acquires Kenya’s Sumac Microfinance Bank Ltd

4 days ago | capitalfm.co.ke | Kevin Rotich

NAIROBI, Kenya, June 3 – Moniepoint Inc., a private limited liability company incorporated in the United States of America, has been approved to acquire Sumac Microfinance Bank Limited for an undisclosed amount. As part of the deal, the U.S. firm will acquire a 78 percent shareholding of the microfinance company. Sumac Microfinance Bank Limited, which began its operation in 2002, is involved in monetary intermediation, financial leasing, and insurance agency, among other activities.
Farmers’ relief as Govt sets aside Sh500mn to buy rice

1 week ago | capitalfm.co.ke | Kevin Rotich

NAIROBI, Kenya, May 30 – The Government has set aside about Sh500 million to buy 5,000 metric tons (MT) of rice from local farmers in Kirinyaga and neighboring counties. The mop-up follows concerns raised by Mwea Irrigation Scheme farmers on the possible impact of imported rice on local ones.
EAC states urged to negotiate trade deals as a bloc

1 week ago | capitalfm.co.ke | Kevin Rotich

NAIROBI, Kenya, May 29 – Countries forming the East African Community (EAC) bloc have been urged to negotiate trade agreements with third parties as a bloc to improve negotiation leverage. The East African Business Council (EABC) Acting Executive Director Adrian Raphael Njau added that an EAC unified approach will enhance trust among partner states.
Kabianga Dairy Limited goes into administration

1 week ago | capitalfm.co.ke | Kevin Rotich

NAIROBI, Kenya, May 29 – Kericho-based Kabianga Dairy Limited has been placed under administration, meaning that an insolvency practitioner has been picked to manage its operations amid rescue plans. I & M Bank Limited has picked Swaroop Rao Ponangipalli and P.V. Rao as joint administrators. The Insolvency Act, 2015, defines insolvency as a state where an entity is unable to meet its financial obligations.
Oracle licenses renewal to cost Treasury Sh100mn

1 week ago | capitalfm.co.ke | Kevin Rotich

NAIROBI, Kenya, May 29 – The National Treasury plans to spend Sh100 million on the renewal of Oracle licenses and annual support for Integrated Financial Management System (IFMIS) apps and hardware. The recommendations are contained in the National Assembly’s Departmental Committee on Finance and National Planning Budget Estimates report for the 2025/2026 fiscal year.
TransCentury bounces back to profitability with Sh580mn net income

1 week ago | capitalfm.co.ke | Kevin Rotich

NAIROBI, Kenya, May 28 – TransCentury PLC has posted a net profit of Sh580 million for the full year ending December last year, an improvement from a loss of Sh3.2 billion recorded during a similar period in 2023. The Nairobi Securities Exchange-listed infrastructure investment company links the recovery to revenue growth, margin expansion, cost containment, balance sheet clean-up, and prudent foreign currency exposure management.
Union urges extension of direct payments to coffee farmers

1 week ago | capitalfm.co.ke | Kevin Rotich

NAIROBI, Kenya, May 27 – The National Coffee Cooperative Union (NACCU) has urged the Ministry of Cooperatives, Micro, Small, and Medium Enterprises (MSME) Development to extend implementation of direct payments to coffee farmers pending full implementation of an earlier directive. In a letter to CS Wycliffe Oparanya, NACCU Chairman Francis Ngone called for a one-year extension to June 2026.
NTSA directs PSV operators to remove unauthorized graffiti

1 week ago | capitalfm.co.ke | Kevin Rotich

NAIROBI, Kenya, May 27 – The National Transport and Safety Authority (NTSA) has directed all operators of public service vehicles (PSVs) to remove graffiti as well as unauthorized artistic enhancements that conceal vehicles’ identities. NTSA said that such applications obscure the names of saccos or companies that they operate in.
Absa Bank Kenya's net profit soars to Sh6.2bn in Q1

1 week ago | capitalfm.co.ke | Kevin Rotich

NAIROBI, Kenya, May 27 – Absa Bank Kenya’s profit after tax grew by four percent to Sh6.2 billion in the first quarter of this year compared to a similar period between January and March 2024. The lender attributes improved revenue to operational resilience and customer confidence, coming on the back of a challenging macroeconomic landscape. In the review period, for instance, it issued Sh308 billion in loans and advances to key economic sectors and individuals.