Author: Korir Issa

Kenya Airways and Rubis Energy Kenya have signed a memorandum of understanding to build Africa’s first dedicated sustainable aviation fuel (SAF) refinery, targeting annual output of 32,000 tonnes at a projected cost of between $68 million and $79 million. The agreement establishes a framework for jointly engineering, financing and operating a facility near Jomo Kenyatta International Airport that will produce low-carbon fuel from locally sourced waste materials. By locating production adjacent to existing fuel infrastructure, the partnership cuts the logistical chain between manufacture and use — a key factor in making SAF commercially viable against conventional jet fuel. The signing…

Vodacom announced the acquisition of an additional 20% stake in Safaricom, raising its holding from 35% to 55% and establishing control of the Kenyan operator for the first time since its original investment in 2017. The group agreed to pay KES 34 per share for 8 billion Safaricom shares, a transaction valued at approximately R36 billion. The implied EV/EBITDA multiple for the controlling 20% stake stands at 6.9 times FY26 earnings. CEO Shameel Joosub said: “Acquiring a controlling stake in Safaricom strengthens our position as a market leader, while at the same time unlocks new opportunities to drive digital and…

The headline numbers from Safaricom’s FY2026 results are already in circulation. KSh 400 billion in Kenya service revenue. KSh 100 billion net income attributable to shareholders. A record KSh 80 billion dividend. But the audited financials published on 7 May 2026 contain a layer of data that the investor conference summaries did not reach: Fuliza disbursements up 49% to KSh 1.47 trillion, messaging revenue in structural decline, Safaricom holding 66.8% of Kenya’s GSM market, and Ethiopia’s birr depreciating 23.7% against the dollar in a single year. The Audited Group Picture The consolidated income statement confirms group service revenue of KSh…

Borrowing from a Kenyan bank in March 2026 could cost you 10.80% or 18.87%, depending entirely on which institution you walk into. That nearly 800-basis-point gap between the cheapest and most expensive lender tells you everything you need to know about how unevenly credit is priced in Kenya right now. The Central Bank of Kenya published rates data for all 38 licensed commercial banks on May 5th. The weighted average lending rate settled at 14.70% in March 2026, down from 14.82% in December 2025 and the lowest reading since December 2023. Modest progress, but progress nonetheless. International Banks Dominate the…

Nedbank Group Limited wants to buy a controlling stake in NCBA Group PLC, and it is coming directly to shareholders to get it. Through a partial pro rata tender offer, the South African banking group seeks to acquire approximately 1.09 billion NCBA shares, representing 66 percent of the company’s issued share capital. The offer opens on 28 May 2026 and closes on 10 July 2026.  What Nedbank is offering For every 100 NCBA shares tendered and accepted, shareholders receive two things. First, 4.02994 ordinary Nedbank shares. Second, KES 2,100 in cash. The two components together form the consideration, structured as…

Property prices in Nairobi’s suburbs strengthened in the first quarter of 2026, even as land values across both suburbs and satellite towns grew at their slowest pace in years. The divergence reflects a market where demand for standalone houses in established neighbourhoods remains firm, while tighter economic conditions and a regulatory dispute over planning approvals weigh on developer activity and land acquisition. These findings come from HassConsult’s Property and Land Price Index for Q1 2026, which tracks price movements across 18 Nairobi suburbs and 14 satellite towns. House Prices: Suburbs Strengthen as Satellite Towns Contract Overall sale prices in Nairobi’s…