The Co-operative Bank of Kenya has partnered with the United Nations Capital Development Fund (UNCDF) to launch a new KSh 233.1 million fund aimed at helping young and digital businesses access loans. The partnership will support small businesses, especially those run by youth, by reducing the risk for the bank and allowing more entrepreneurs to qualify for financing. The programme will focus on growing Kenya’s digital economy and supporting farmers through solar-powered cold storage to reduce post-harvest losses. Under the initiative, more small businesses—including those in remote and dry areas—are expected to benefit from easier access to credit. The partners…
Author: Felicia Oketo
Travellers in Kenya and across Africa may soon face higher airfares as airlines respond to rising jet fuel prices linked to the ongoing conflict involving Iran. Aviation analysts say disruptions in global oil supply routes have pushed aviation fuel prices sharply higher, increasing airline operating costs. Fuel is one of the biggest expenses for airlines and can account for up to 40 percent of their operating costs. According to a report by Getaway Magazine, several international airlines have already introduced fuel surcharges or increased ticket prices to cope with the rising costs. Experts warn that if oil shipments through the…
The Insurance Regulatory Authority (IRA) has placed Corporate Insurance Company Limited under statutory management with effect from March 10, 2026, citing provisions of the Insurance Act. The regulator has appointed the Policyholders Compensation Fund (PCF) as the statutory manager to oversee the company’s operations and safeguard the interests of policyholders. In a public notice issued in Nairobi, the authority said the insurer will not be allowed to enter into new insurance contracts starting March 11, 2026. Existing policyholders have been advised to seek alternative cover from other licensed insurers, while the Policyholders Compensation Fund will compensate affected claimants and guide…
The Insurance Regulatory Authority (IRA) has placed KUSCCO Mutual Assurance Limited under statutory management starting March 10, 2026. The regulator said the decision was made under the Insurance Act to protect policyholders and allow a review of the company’s financial and operational position. The authority has appointed the Policyholders Compensation Fund (PCF) to take over the management of the company. From March 11, 2026, KUSCCO Mutual Assurance will not be allowed to issue any new insurance policies. Existing policyholders have been advised to seek alternative cover from other licensed insurers, while the compensation fund will handle claims as provided for…
The Insurance Regulatory Authority (IRA) has placed Trident Insurance Company Limited under statutory management starting March 10, 2026. In a public notice, the regulator said the move was taken under the Insurance Act to protect policyholders and allow a closer review of the company’s operations and financial position. The authority has appointed the Policyholders Compensation Fund (PCF) as the statutory manager to take control of the company. Trident Insurance will not be allowed to enter into any new insurance contracts from March 11, 2026, while current policyholders have been advised to look for alternative insurance cover from other licensed insurers.…
Insurance Regulatory Authority has placed three insurance companies under statutory management to protect policyholders and stabilize their operations. The affected firms are Trident Insurance Company, KUSCCO Mutual Assurance Limited, and Corporate Insurance Company. The regulator said the move, which took effect on March 10, 2026, allows the Policyholders Compensation Fund (PCF) to take over management of the companies while their financial and operational positions are reviewed. IRA said the action is meant to safeguard policyholders, creditors and the public while maintaining confidence in Kenya’s insurance sector.
Kenya Association of Manufacturers has urged the government to reform regulations, saying too many licences, permits and inspections are increasing the cost of doing business. A new report shows some manufacturers must obtain more than 50 licences from different national and county agencies, raising compliance costs and slowing industry growth Speaking in Nairobi, Lee Kinyanjui said the government is working on a new industrial policy to address these challenges and support local manufacturers. Industry leaders also called for stronger action against illicit trade and counterfeit goods that undermine legitimate businesses.
Transparency International Kenya has warned that public participation in Kenya is increasingly being treated as a mere formality, with political interests overriding constitutional requirements in the vetting of candidates for elective and appointive public positions. The anti-corruption watchdog said many public forums meant to gather citizens’ views are conducted simply to “tick a box,” without genuine consideration of the feedback provided by the public. The organisation noted that this trend weakens accountability and undermines the spirit of the Constitution of Kenya 2010, which requires transparency and meaningful citizen involvement in governance processes. TI Kenya called on institutions responsible for vetting…
There are currently 3,177 dollar billionaires around the world, with their combined wealth estimated at nearly $19 trillion, according to a new global report. The figures highlight the growing concentration of wealth among the world’s richest individuals. The United States has the largest number of billionaires, with 934 ultra-high-net-worth individuals whose wealth totals about $8.2 trillion. However, Hong Kong and Singapore lead when it comes to the highest concentration of billionaires per capita, each recording about nine billionaires for every one million residents.
The National Infrastructure Fund embeds strong governance safeguards, with a governing council, an independent professional board, and parliamentary oversight to ensure transparency, accountability, and prudent management of public resources. This fund is a strategic, well-structured initiative, not an experiment, designed to drive sustainable national infrastructure development.-President Dr. William Ruto