Author: Korir Issa

Absa Group Limited and Visa Inc. have renewed their long-standing strategic partnership to accelerate the development of inclusive, secure, and digitally enabled financial ecosystems across Absa’s Regional Operations (ARO). The agreement, formalised at a signing ceremony in Johannesburg, marks a major milestone in a relationship that has consistently driven innovation and financial inclusion across the continent. Expanding Digital Access and Innovation “This regional expansion marks an exciting new chapter in our partnership with Absa—one that continues to challenge conventions and redefine the possibilities within financial services,” said Michael Berner, Head of Southern and East Africa at Visa. “We share a…

Kenyans abroad continue to fuel the national economy, with diaspora remittances at a historic high of USD 5.08 billion (KSh 656.99 billion) in the 12 months leading to June 2025, according to the Central Bank of Kenya (CBK). Remittances in June 2025 totalled USD 423 million (KSh 54.68 billion)—a 13.8% increase compared to USD 372 million (KSh 48.06 billion) in June 2024. However, this figure marked a 3.9% month-on-month decline, falling from the record USD 440 million (KSh 56.76 billion) in May. “The steady growth in remittance inflows remains a key source of foreign exchange earnings and continues to support…

Kenya has removed visa and Electronic Travel Authorisation (ETA) requirements for citizens of most African and Caribbean countries to enhance regional integration and stimulate tourism. The new policy allows eligible travellers to enter Kenya without prior approvals, lengthy forms, or visa fees — a shift aimed at simplifying cross-border mobility and positioning Kenya as a premier destination for leisure and business. Under the revised framework, African nationals can stay in Kenya for up to two months, while citizens of East African Community (EAC) member states continue to benefit from a six-month stay, in line with existing free movement agreements. However,…

Nairobi-based Shri Krishana Overseas Ltd. (SKL) will make history as the first packaging solutions provider to list on the Nairobi Securities Exchange (NSE). The company will debut on the NSE’s SME Market Segment on July 24, 2025, offering 50.5 million ordinary shares by introduction at KSh 5.90 per share. Of these, 8.7 million shares will be available to the public, valuing the listing at approximately KSh 298 million. Diverse Operations and Market Footprint SKL operates two main divisions: packaging and footwear. Its packaging portfolio includes corrugated boxes, tray packaging, labels, tapes, and custom containers. Founded in 2009 by Dr. Sonvir Singh and Nirmal Chaudhary, SKL…

Somalia will launch its first stock exchange, the National Securities Exchange of Somalia (NSES), in early 2026, trading equities and government-issued sukuk bonds to integrate into regional and global financial markets. The exchange will prioritise telecommunications, banking, real estate, energy, and agriculture companies to drive economic growth. Yasin Ibar, former Somali Bankers’ Association CEO, is NSES’s chief executive officer. He stated the exchange will enable companies to raise capital, allow investors to support Somalia’s growth, and facilitate economic integration into broader markets. “NSES will create opportunities for companies to access capital, for investors to support Somalia’s growth, and for our…

Credit Bank Plc, an SME-based bank in Kenya, seeks shareholder approval to list its shares on the Unquoted Securities Platform of the Nairobi Securities Exchange (NSE). This proposal will be a key agenda item at the bank’s 39th Annual General Meeting, scheduled to be held virtually on Monday, 7th July 2025, at 10:00 AM. Key Details from the AGM Notice According to the AGM notice, the bank’s board is asking shareholders to approve a resolution to authorise Credit Bank to apply for the admission and listing of its ordinary shares on the NSE’s USP. This step is contingent upon receiving…