Author: Korir Issa

The Central Bank of Kenya (CBK) has lowered its benchmark lending rate by 25 basis points to 9.25%, citing room for further monetary easing amid stable inflation and resilient economic performance. In its Monetary Policy Committee (MPC) meeting held on October 7, 2025, the CBK announced the reduction of the Central Bank Rate (CBR) from 9.50% to 9.25%, marking the eighth consecutive rate cut. “The Monetary Policy Committee (MPC) decided to lower the Central Bank Rate (CBR) by 25 basis points to 9.25 percent from 9.50 percent,” the CBK said in its statement. The Committee noted that the move is…

PZ Cussons, the multinational behind Imperial Leather and Carex, has placed its Kenyan business under formal review as part of a broader reassessment of its African operations. The move casts uncertainty over the future of PZ Cussons East Africa, which manufactures and distributes personal and home care products across the region. The London-listed group said the review covers its Family Care unit in Kenya, operations in Nigeria and Ghana, and its Electricals division in Nigeria. This follows a series of strategic pivots aimed at simplifying the group’s structure and refocusing on core brands. “We are conducting a strategic review of…

Tullow Oil has exited Kenya’s upstream oil sector, completing the sale of its entire working interest to Auron Energy E&P Ltd, an affiliate of Gulf Energy, for a minimum cash consideration of US$120 million (approx. Sh15.6 billion). The transaction, announced on the London Stock Exchange, marks a major milestone for Kenya’s energy ambitions, with Gulf Energy now assuming full control of the Turkana oil project, bringing the country closer to producing its first oil. Deal Terms and Strategic Implications Tullow confirmed receipt of US$40 million under Tranche A of the Sale and Purchase Agreement (SPA), originally announced on 21 July…

Verto, a global financial technology company transforming cross-border payments and foreign exchange for businesses, has officially launched its new East African hub in Nairobi, Kenya. The strategic expansion underscores Verto’s commitment to simplifying global trade for emerging markets and deepening its footprint across Africa. Located at The Address, Muthangari Drive, the Nairobi hub will serve as a regional anchor for Verto’s operations, supporting a growing customer base across Kenya, Uganda, and Tanzania. From this base, Verto will enhance customer experience, forge regional partnerships, and deliver locally tailored payment solutions to businesses transacting across borders. “Kenya’s digital infrastructure, entrepreneurial energy, and…

Diamond Trust Bank Kenya Limited (NSE: DTK) will divest from DTB Burundi, marking a strategic shift in its regional footprint. The bank has entered into a conditional sale and purchase agreement to offload its entire 83.67% stake in the Burundian subsidiary to a consortium of Burundi-based investors, including the existing minority shareholder. “This decision aligns with our strategy to optimise and consolidate operations across our core markets,” said Nasim Devji, Group CEO of DTB. DTB Burundi, operational since 2009, has played a role in the country’s banking sector. The transaction is subject to regulatory approvals. Strategic Refocus on Core East…

Sanlam Kenya Plc has scheduled a virtual Extraordinary General Meeting (EGM) for Thursday, 9 October 2025, seeking shareholder approval to rebrand as Sanlam Allianz Holdings (Kenya) Plc. The proposed name change aligns with the broader integration of Sanlam and Allianz operations across Africa under the SanlamAllianz joint venture. Jubilee Holdings Exit and SanlamAllianz Formation The rebrand follows Jubilee Holdings’ full divestment from general insurance, having sold its remaining stakes in Jubilee Allianz subsidiaries to SanlamAllianz Africa. The transaction included: Kenya, Uganda, Mauritius: 34% stake each Burundi: 19% Tanzania: 15% Allianz initially entered East Africa in 2020 through a KSh 10.8…