Author: Korir Issa

Kenya Vehicle Manufacturers (KVM) has restarted the local assembly of Volkswagen vehicles at its Thika plant, marking a renewed push to strengthen Kenya-Germany industrial cooperation and expand Kenya’s footprint in regional automotive manufacturing. The facility is now producing the Volkswagen Touareg, Tiguan, and T-Cross models under a Level 2 Completely Knocked Down (CKD) arrangement, a move expected to boost localisation, create jobs, and transfer modern automotive technologies into the Kenyan market. “Germany recognises the critical role that the automotive industry plays in driving economic development,” said Alexander Fierley, Germany’s Deputy Ambassador and Trade Counsellor, during a visit to KVM. “Our…

Diamond Trust Bank (DTB) Kenya has reported a 9.9% increase in after-tax profit for the six months ended June 2025, driven by strong growth in net interest income despite a lower interest rate environment. The lender posted a net profit of KES 4.77 billion, up from KES 4.34 billion in the same period last year. Net interest income rose 11.77% to KES 15.86 billion, supported by increased lending activity. Key Performance Highlights (H1 2025 vs H1 2024) Metric Jun 30, 2025 Jun 30, 2024 YoY Change Net Interest Income KES 15.86B KES 14.19B +11.77% Non-Interest Income KES 6.07B KES 6.39B…

Kenya has received a boost in investor confidence after global credit rating agency S&P Global Ratings upgraded the country’s long-term sovereign credit rating to ‘B’ from ‘B-’, with a stable outlook, while affirming the short-term rating at ‘B’. The upgrade reflects growing optimism about Kenya’s fiscal outlook and marks a positive shift in how international markets may view the country’s credit risk. S&P also raised Kenya’s transfer and convertibility assessment to ‘B+’ from ‘B’, citing improved confidence in the country’s ability to facilitate currency exchange and cross-border capital flows. “The stable outlook reflects our expectation that Kenya’s robust economic growth…

Yellow Card, Africa’s leading stablecoin infrastructure provider, has released its 2025 Impact Report, revealing a sharp rise in stablecoin usage across sub-Saharan Africa. Kenya joins Nigeria, South Africa, Ghana, Zambia, Ethiopia, and Uganda as key growth markets, with stablecoins now accounting for 43% of total crypto transaction volume in the region. Stablecoins Dominate Africa’s Crypto Economy Nigeria led the continent with nearly $22 billion in stablecoin transactions between July 2023 and June 2024. South Africa saw a 50% month-over-month growth since October 2023, with stablecoins overtaking bitcoin as the most popular cryptocurrency. The report notes: “Stablecoins are becoming an indispensable…

CFAO Mobility Kenya has appointed a liquidator to wind up DT Dobie, marking the final chapter for one of Kenya’s most iconic automotive brands. The move comes more than two years after DT Dobie transferred its business assets to its parent company, CFAO Motors Kenya. Merger and Restructuring The liquidation follows CFAO Group’s 2023 internal restructuring, which merged DT Dobie’s operations with CFAO Motors Kenya. The consolidation brought together two of Kenya’s oldest and most respected automotive players under one roof. Toyota Tsusho Corporation, which fully acquired CFAO in 2016, said the merger aimed to streamline its African mobility operations.…

I&M Group PLC reported a record-breaking half-year performance for the period ended 30 June 2025, with profit after tax (PAT) soaring 36.3% year-on-year to KES 8.3 billion, its highest H1 result to date. This marks a significant leap from KES 6.1 billion in H1 2024, underscoring the Group’s strategic execution and regional diversification. Earnings per share (EPS) rose 37% to KES 4.51, reflecting enhanced shareholder value and operational efficiency. Robust Income Growth Across the Board Net Interest Income surged 23.7% to KES 20.4 billion, supported by a 3.1% increase in total interest income to KES 32.1 billion. This was driven…