Author: Lynet Awino

Kenya Airways says it lost more than US$7 million, equivalent to over Sh904.7 million, during a three day industrial action that disrupted flight operations at Jomo Kenyatta International Airport and other Kenyan airports. The airline says the figure covers lost revenue along with costs tied to passenger accommodation, meals, transportation and flight rebooking. During the disruption, Kenya Airways cancelled 63 flights and recorded more than 160 delays, with average delays exceeding six hours. More than 370 tonnes of fresh produce and meat could not be uplifted while flights were grounded. What Caused the Disruption The Kenya Aviation Workers Union walked…

Safaricom has removed transaction charges on business till payments of Ksh 500 or below, effective 7 August 2026, under a new customer proposition called Pata More. The change was detailed during a webinar hosted by KICTANet on 27 August as part of the EmpowerHer SheConnects Digital Accelerator, a project funded by CARE International that trains women micro entrepreneurs in Nairobi, Tana River and Nyandarua counties. Norah Owako, Senior Manager, Growth M-Pesa Merchant Payments, who leads merchant payments, and Gakenia Gathura, Safaricom Manager – Business Development & Growth presented the update to an audience of more than 100 women digital champions, county…

Kenya Airways, Absa Bank Kenya and Visa have launched the Asante Global Card, a co branded travel credit card that converts everyday spending into flight rewards, lounge access and priority travel status. The companies described it as the first product of its kind in the Kenyan market, a claim that reflects the companies’ own marketing rather than an independently verified ranking. The card links Kenya Airways’ route network, Absa’s local banking infrastructure and Visa’s global payments acceptance under a single product, launched under the campaign name “Your Life Rewarded.” It targets professionals, frequent travellers and premium banking customers. Cardholders earn…

CIC Asset Management Limited grew its half year income by double digits, yet its balance sheet shrank and shareholders will receive no dividend, according to unaudited results released for the period ended June 30, 2026. The board, chaired by Cornelius Ashira, said it was pleased to report the figures, which show fund management fees climbing faster than the bottom line, a pattern that points to rising costs eating into the gains. Group Managing Director and CEO Patrick Nyaga and Managing Director Humphrey Gathungu also signed off on the release. Income Climbs, Expenses Climb Faster Fund management fees, the firm’s core…

Citibank Kenya will close its Mombasa branch on November 30, ending a coastal presence that began in 1989, as the bank moves to run all corporate banking services out of its Nairobi headquarters. The lender confirmed the move in a public notice, framing it as digital modernization rather than retreat. “This strategic optimization of our corporate banking network is part of Citi Kenya’s ongoing commitment to modernizing and digitizing banking services and has received all required regulatory approvals,” the bank said in the notice. It added that clients will keep full access to CitiDirect and other digital platforms, and that…

TPS Eastern Africa, the Nairobi Securities Exchange listed owner of the Serena Hotels chain, sank deeper into the red in the first half of 2026. The company posted a pretax loss of KES 75.2 million, a sharp reversal from the KES 1.2 million loss recorded in the same period last year. Revenue for the six months slipped 1.4% to KES 4.00 billion. Management pointed to softer international travel demand as the main drag on room and occupancy income. Other income offered some relief, climbing 17.5% to KES 220.9 million, but it wasn’t enough to offset pressure elsewhere in the business.…