KCB Bank Kenya has secured a $96.9 million (KSh 12.5 billion) financing facility from the Green Climate Fund to support farmers and small businesses in adopting climate-friendly technologies. The funding will be used to promote solutions such as solar energy, clean cooking, climate-smart agriculture, and better water management, especially for vulnerable communities. The bank said the initiative will help small businesses and farmers improve productivity while adapting to climate change. About 60 percent of the funds will go toward helping communities cope with climate effects like drought, while the rest will support projects that reduce carbon emissions. The programme is…
Author: Felicia Oketo
Kenya Flower Council has warned that Kenya’s flower industry is facing major losses due to disruptions caused by the ongoing conflict in the Middle East. The crisis has affected air cargo routes, leading to flight delays, cancellations and higher transport costs. Exporters have already lost about KSh 220 million in just a few weeks, with many flowers going bad before reaching international markets. The council says the situation is putting thousands of jobs at risk and hurting one of Kenya’s top export sectors. With reduced cargo space and rising fuel costs, shipping flowers has become more expensive and less reliable.…
Moniepoint Inc. has acquired a 78% controlling stake in Sumac Microfinance Bank Kenya Limited, marking its entry into the East African market. The deal, completed in February 2026 after regulatory approval from the Central Bank of Kenya, is expected to strengthen digital financial services for small businesses across Kenya. The acquisition will allow Sumac to benefit from Moniepoint’s advanced technology, expanded capital, and wider financial network, while continuing normal operations without disruption to customers. Industry leaders say the partnership will improve access to credit, boost financial inclusion, and support the growth of small and medium-sized enterprises in the country.
AMAC COMEX, a leading African commodities exchange platform, is set to sign a major agreement with the Grain Council Union of Uganda (TGCU) in Kampala on March 26, 2026. The deal will give more than 400 TGCU member organisations—representing millions of farmers—access to a modern trading platform that connects them to local, regional, and global markets. The partnership will introduce key services including a warehouse receipt system, instant post-delivery financing, trade insurance, and a full logistics network. Officials say the move will help farmers avoid losses, access better prices, and improve the overall agricultural value chain in Uganda.
Working Kenyans are showing signs of financial recovery, with improved financial satisfaction in 2025 and 7 in 10 expecting their situation to get better in the next six months. This optimism is being driven by rising incomes and an increase in side businesses and entrepreneurship. However, many households are still under pressure from the high cost of living. A significant number of Kenyans remain financially stressed, with some forced to borrow or cut expenses to make ends meet. Income security and managing daily costs continue to be the biggest concerns for most workers.
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…
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.…