Author: Korir Issa

Kenya successfully raised KSh106.3 billion ($824.1 million) from the initial public offering (IPO) of the state‑run Kenya Pipeline Company (KPC), according to Bloomberg. Uganda Secures Strategic Stake The IPO received a boost when the Uganda National Oil Company (UNOC) acquired a 20.15% stake for $255.4 million. Uganda’s Cabinet approved the purchase on February 23, 2026, underscoring the country’s reliance on Kenya’s petroleum infrastructure. “The Government of Uganda’s participation has secured a 20.15 percent strategic shareholding in KPC,” Uganda’s Minister of Energy and Mineral Development announced. Today at the Uganda Media Centre, the Minister of @MEMD_Uganda, @NankabirwaRS formally announced the Government’s…

Nedbank Group has received exemption from Kenya’s Capital Markets Authority (CMA), freeing it from the obligation to make a mandatory takeover offer for all NCBA Group shares. This approval satisfies a condition in Nedbank’s plan to acquire approximately 66% of NCBA’s issued ordinary shares, advancing its East Africa expansion strategy. The bank also confirmed that irrevocable shareholder undertakings to accept the offer have risen to 77.54%, up from 71.2% previously. This higher level of commitment signals strong investor confidence and increases the likelihood of smooth execution. A “Control-and-Scale” Bet on Kenya According to Business Daily, Nedbank is positioning the NCBA…

Pepsi’s largest bottler outside the US, Varun Beverages Limited (VBL), is set to expand its footprint in Africa by launching a mega‑production facility in Kenya. The company confirmed the move in its audited financial results for the year ended December 31, 2025, identifying the incorporation of a wholly owned Kenyan subsidiary as a milestone. “We have incorporated a wholly owned subsidiary in Kenya under Varun Beverages Limited to carry on the business of manufacturing, distribution, and selling of beverages,” the report stated. Construction is scheduled to begin in the first quarter of 2026, with commissioning targeted for Q4 2027. The…

NCBA Bank has joined Kenya’s largest lenders, KCB Group, Equity Bank,  in repricing loans after the Central Bank of Kenya (CBK) lowered its benchmark rate to 8.75%. New Loan Pricing Framework The bank announced that all new Kenya shilling variable-rate facilities booked from February 12, 2026 will apply a base rate of 8.75% per annum. Facilities granted from December 1, 2025 under the revised framework will adopt the new base rate effective March 12, 2026. Loans issued before December 1, 2025 will migrate to the Risk-Based Credit Pricing Model on February 28, 2026. NCBA confirmed that applicable lending rates will…

Zaad Holdings will acquire the remaining 60 percent stake in East Africa Seeds Group (EASEED), completing its takeover of the Kenya‑headquartered seed company. The move follows a capital injection by a consortium of investors through Zaad Holdings, enabling the firm to secure majority ownership. Zaad Holdings first entered East Africa Seeds in 2019 with a 40 percent stake. The latest transaction will give the agribusiness investor full control, strengthening its position in Africa’s agricultural inputs value chain and expanding its footprint in seed production and distribution. EASEED: A Regional Pioneer Since 1972 Founded in 1972 by the late Mr. L.V.…

Kenya’s banking sector remains resilient, supported by steady economic growth, strong capital buffers, and gradually improving asset quality. Moody’s Ratings reaffirmed a stable outlook in its February 2026 report, noting “steady macroeconomic conditions, solid capital buffers and gradually improving asset quality.” The Central Bank of Kenya (CBK) echoed this assessment, stating: “The banking sector remains stable and resilient, with strong liquidity and capital adequacy ratios. The ratio of gross non-performing loans (NPLs) to gross loans stood at 15.5 percent in January 2026, down from 16.7 percent in October 2025 and 17.6 percent in August 2025.” Asset Quality: Signs of Improvement…