Sugar workers have suspended a nationwide strike after the Government agreed to release KSh1 billion within two weeks to settle salary arrears and terminal benefits owed to factory employees. The strike, which affected Muhoroni, Nzoia, Sony and Chemelil sugar factories, was triggered by unpaid dues amounting to KSh10.8 billion. Agriculture CS Mutahi Kagwe said the arrears are a government obligation and will be cleared through a Supplementary Budget, subject to parliamentary approval. Unions said they will monitor the release of funds, warning that workers remain under financial strain as the government moves to stabilise the sugar sector.
Author: Felicia Oketo
Kenya’s economy is projected to grow by up to 5.2% in 2026, buoyed by easing inflation, a stabilising shilling and improved private sector confidence, according to insights shared at the 2026 Economic Outlook Forum in Nairobi. The forum, hosted by KEPSA in partnership with the Nairobi Securities Exchange and KPMG, noted that inflation has cooled to a 3–5% range, supporting business recovery after slower growth in 2024, even as global shocks and fiscal pressures persist. Speakers urged businesses to tap capital markets as an alternative to costly borrowing, saying stronger private sector investment, innovation and job creation will be key…
House price growth in Kenya slowed sharply in Q4 2025, signalling a cooling residential market as buyers struggle with high interest rates, weak purchasing power, and rising construction costs, according to the latest Hass Property Index. The report shows that while prices remain higher than pre-pandemic levels, momentum has flattened, particularly in the apartment market, as demand softens and developers face longer selling periods. HassConsult said the slowdown reflects a market adjusting to tighter credit conditions, with buyers increasingly price-sensitive and cautious.
Land prices in Nairobi’s prime suburbs remained at long-term highs in Q4 2025, recording an annual growth of 5.9% and extending the city’s strongest run of land price increases since 2016, according to the latest Hass Land Index. The gains were driven by demand in high-end areas such as Karen, Kilimani, Kitisuru, Gigiri and Runda, reflecting renewed investor interest in premium city locations. Meanwhile, satellite town land prices cooled sharply, with annual growth slowing to 6.2% by the end of 2025 from a peak of 12.6% in 2024, signalling a return to normal growth levels after a multi-year surge. HassConsult…
The Competition Authority of Kenya (CAK) has approved KCB Group’s acquisition of a 75% stake in Riverbank Solutions Ltd, clearing the way for the bank to deepen its fintech footprint, subject to strict conditions regarding customer data access and protection, as well as the honouring of existing contracts. The deal will see KCB take control of Riverbank and its related payments business, Zed Payments Ltd, thereby strengthening KCB’s digital capabilities for MSMEs. This will enable Riverbank to scale its platforms, expand its customer base, and accelerate innovation under the bank’s ownership.
Agriculture CS Mutahi Kagwe has given maize hoarders 30 days to release stocks or face duty-free maize imports, saying the government is ready to buy 1.7 million bags at KSh4,000 each to stabilise flour prices. Despite having KSh1.7 billion available, only 186,000 bags have been delivered to the Strategic Grain Reserve, a shortfall Kagwe blamed on hoarding and speculation as drought risks rise. The CS said the move prioritises local farmers but warned imports will proceed if stocks remain withheld, as the government steps up efforts to secure food reserves and protect consumers.
In documents filed in the court, the petitioner Dr. Maitamei Olol Dapash says he no longer wishes to proceed with the matter. Dapash had moved to court seeking to have the luxury hotel operations stopped. The petition had claimed that the safari camp was built along a wildlife migratory route.
Bamburi Cement has signed a KSh32 billion (US$250 million) EPC contract with China’s Sinoma CBMI to build a 1.6 million-tonne-per-year clinker plant in Matuga, Kwale County, marking one of the company’s largest industrial investments in recent years. The new plant will more than double Bamburi’s clinker capacity and significantly expand cement production, reducing reliance on imported clinker, saving foreign exchange, and stabilising domestic cement supply as Kenya ramps up major infrastructure projects. The project aligns with the government’s KSh5 trillion national development roadmap, supports local manufacturing, and will create jobs while incorporating low-carbon, energy-efficient technologies to cut emissions and enhance…
The Cabinet has approved the establishment of a National Infrastructure Fund and a Sovereign Wealth Fund as part of Kenya’s KSh5 trillion plan to transform the economy. The two funds will mobilise private and domestic capital for major investments in infrastructure, energy, transport and food security, while strengthening fiscal discipline and reducing reliance on borrowing. Cabinet also approved key energy policies and measures to fast-track infrastructure delivery and economic growth.
Safaricom’s first green bond has recorded massive demand, attracting KES 41.6 billion against a target of KES 15 billion, an oversubscription of 175.7%. The company will take up the full KES 5 billion greenshoe option, raising KES 20 billion and refunding KES 21.4 billion to investors. CEO Peter Ndegwa said the strong uptake reflects market confidence in Safaricom’s growth strategy. Funds will be channelled into renewable energy and efficiency projects. The tax-exempt five-year note, priced at 10.4%, will be listed on the NSE on December 16.