Kenya has successfully raised KES 106.3 billion (about $824 million) from the sale of shares in the state-owned Kenya Pipeline Co., marking the country’s first major public offering in over ten years. The strong investor interest signals confidence in the energy sector and the wider economy, with officials saying the funds will support government projects and infrastructure. According to Faida Investment Bank Ltd., which helped manage the sale, the offer attracted more buyers than the shares available — meaning it was oversubscribed. Analysts say the successful listing could encourage more state companies to sell shares to the public in future…
Author: Felicia Oketo
Emirates has introduced a new payment option in Kenya that allows travellers to pay for air tickets using several methods at once. The service, developed with Cellulant through its Tingg platform, lets customers combine mobile money, bank transfers and debit or credit cards when booking flights online. Travellers can also pay in instalments within 24 hours, making expensive international tickets easier to afford. The move targets Kenya’s large mobile-money user base, where transaction limits often prevent people from completing big purchases like airline tickets. By allowing split payments, Emirates hopes to reduce failed bookings and open travel to more customers.…
Pesalink has signed a partnership with the Pan-African Payment and Settlement System (PAPSS) to allow instant 24/7 cross-border payments into Kenyan banks and mobile money platforms. The deal will enable transactions to be settled in local currencies, reducing reliance on foreign reserve currencies and cutting out lengthy correspondent banking processes. The partnership connects more than 80 Kenyan financial institutions on the Pesalink network to over 160 banks and fintechs across Africa on the PAPSS platform. Officials say the move will lower the high cost of cross-border transfers, which can take up to seven days and cost up to 8% of…
The Competition Authority of Kenya (CAK) has fined Guaranty Trust Bank Kenya Limited KES 33.18 million for misleading a corporate customer and applying unfair charges. The regulator also ordered the bank to refund KES 13.2 million to ASL Limited after finding that the fees and default interest were improperly imposed. Investigations showed that the bank charged for unapproved services, changed loan terms without proper notice, and applied backdated interest during a stalled loan renewal process. CAK said these actions unfairly pressured the company and took advantage of the bank’s stronger negotiating position, violating consumer protection rules under the Competition Act.
Hundreds of travelers have been delayed at the Jomo Kenyatta International Airport (JKIA) due to a go slow by key aviation workers. According to multiple sources at the airport, flight delays affecting both take offs and landing were reported at the busy airport on Monday morning. In a statement to newsrooms, the Kenya Civil Aviation Authority and the Kenya Airports Authority admitted to the go slow but insisted they had put in place contingency measures. Last week, Kenya Aviation Workers Union (KAWU) issued a strike notice on behalf of its members based at the Civil Aviation Authority. The Moss Ndiema…
Kenya has launched two digital trade platforms — BiasharaLink and Deal House — aimed at turning African embassies into active deal-making hubs and accelerating intra-African trade under the AfCFTA framework. The platforms, unveiled in Addis Ababa ahead of the African Union Summit, are designed to capture, structure and convert trade enquiries into bankable transactions. Officials say the move addresses a major execution gap, where thousands of trade enquiries received by embassies result in less than one percent of closed deals. By linking opportunity capture to validation, financing and contract execution, Kenya hopes to unlock regional trade flows, empower SMEs and…
Absa has appointed former M-PESA Africa Managing Director Sitoyo Lopokoiyit as its new Chief Executive for Personal and Private Banking, effective April 1, 2026, as the bank sharpens its focus on digital transformation and customer-centric growth. Lopokoiyit brings over a decade of fintech leadership from Safaricom, where he helped scale M-PESA to more than 56 million customers and 5 million businesses across Africa, leading innovations such as the M-PESA Super App and Fuliza. Absa said his appointment strengthens its strategy to deliver integrated financial solutions while unlocking new growth opportunities in retail and private banking.
The Cabinet has approved a KSh4.7 trillion national budget for the 2026/27 financial year, setting the stage for one of Kenya’s largest spending plans yet as the government balances revenue growth with rising expenditure demands. The Budget projects KSh3.53 trillion in revenues against total spending of KSh4.7 trillion, with the bulk of allocations going to recurrent expenditure at KSh3.46 trillion, while KSh749.5 billion is earmarked for development projects. County governments are set to receive a significant boost, with KSh495.7 billion allocated in total transfers to support devolved services across the country. Under the Division of Revenue Bill, 2026, counties will…
The Central Bank of Kenya (CBK) has warned Kenyans against using currency notes for decorative displays such as cash bouquets, saying the practice damages banknotes and disrupts the circulation of money. In a public notice issued on February 2, 2026, CBK said folding, gluing, stapling or pinning banknotes renders them unfit for circulation and interferes with ATMs and cash-processing machines, leading to the premature withdrawal and costly replacement of damaged currency. The Bank reminded the public that defacing or mutilating currency is a criminal offence under the Penal Code and urged Kenyans to use non-damaging alternatives when giving cash gifts,…