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.
Author: Felicia Oketo
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
The idea of the National Infrastructure Fund was conceived during discussions on sustainable development amid fiscal constraints. The Kenya Kwanza manifesto pledged to establish the fund with initial capitalization from privatization proceeds to reduce reliance on the budget for commercially viable infrastructure projects.- Pres Ruto
Kenya Airways has temporarily suspended its repatriation flight between Nairobi and Dubai scheduled for March 6, 2026. The airline said the decision followed security guidance from Dubai airport authorities. Kenya Airways apologised to affected passengers and said the safety of its crew and customers remains its top priority. Travellers have been advised to check their flight status on the airline’s website and keep their contact details updated to receive the latest updates.
British American Tobacco Kenya plc has reported a profit before tax of KSh 7.7 billion for the year ended December 2025, an increase from the previous year. The company said strong cost control, stable exports and improved currency conditions helped boost earnings, even as overall revenue fell by 10 percent to KSh 23.2 billion. The tobacco firm warned that illegal cigarette trade continues to hurt business, now making up about 45 percent of the local market and costing the government billions in lost tax revenue. Despite these challenges, BAT Kenya announced a total dividend of KSh 70 per share for…
APA Apollo Group has named Risper Genga Ohaga as its new Group Chief Executive Officer, effective July 1, 2026. She joins the company from East African Breweries PLC, where she has served as Chief Financial Officer since 2019. The group said her extensive experience in finance, audit and leadership across East Africa will help steer the company’s future growth. Ohaga takes over from Ashok Shah, who is retiring after 14 years as CEO and a long career in the insurance industry. Having previously served as a Non-Executive Director at APA Apollo, she already understands the company’s operations and governance, which…
Standard Chartered Bank Kenya Limited has announced that its Chief Financial Officer Chemutai Murgor will step down on 31 May 2026 after more than 25 years at the bank. The lender praised her for her long service and role in strengthening its financial operations across the region. The bank has appointed Gladys Warirah as the new CFO and Executive Director, pending approval from the Central Bank of Kenya and Capital Markets Authority. She brings over two decades of finance experience and is expected to lead the bank’s financial strategy going forward.