Author: Muindi

TVS Motor Company has launched the iQube electric scooter in Kenya, its first market entry in Africa. Car & General, TVS Motor’s distribution partner in the country, will handle sales and after sales support through its dealership network. The launch comes as Kenyan riders look for alternatives to rising fuel costs. Car & General has operated in Kenya for more than two decades and will lean on that network to sell and service the scooter. Why Kenya, why now TVS frames the entry as part of a push to grow its electric portfolio outside India. Peyman Kargar, President of International…

Prudential Financial is walking away from East Africa. The US insurance firm has agreed to sell its entire stake in ICEA Lion Insurance Holdings, one of Kenya’s largest insurers, closing out a five year investment that never became core to its business. The company disclosed the deal in its latest business update, confirming an agreement reached in January 2026 to sell its 24 percent equity interest in ICEA Lion Insurance Holdings, held through a private equity partnership managed by LeapFrog Investments. The sale still needs regulatory sign off and has yet to clear customary closing conditions, so it is not…

Kenya’s National Treasury wants to hear from you before it drafts the Finance Bill 2027. In a public notice signed by Cabinet Secretary John Mbadi, the Treasury invited citizens, county governments, civil society groups, businesses and religious organizations to submit tax policy proposals for the FY 2027/28 Budget. The invitation covers two areas: amendments to domestic tax laws and administration, plus Kenya’s position on East African Community Customs measures. Why the Rush 2027 is an election year, and that timeline is driving the schedule. Treasury said it must “fast track the National Fiscal Budget process to ensure smooth government operations,”…

Online vehicle marketplace Peach Cars has secured Sh517.6 million in debt financing from two Japanese financial institutions to expand its operations in Kenya. The Deal Japan Finance Corporation and Shoko Chukin Bank provided the financing, which adds to the Sh1.42 billion Series A round Peach Cars closed in June 2025, one of the largest Series A rounds raised in Africa’s mobility sector. The company said the new funds will expand its vehicle inspection capacity, grow access to vehicle financing, and strengthen its online marketplace, which currently lists more than 1,500 vehicles. Why a Japanese Bank Visited Nairobi First Before approving…

East African Breweries has delivered its strongest financial year in recent memory, with profit after tax climbing 49.4 percent to Kshs 18.2 billion on the back of double digit revenue growth and a sharp cut in finance costs. Net revenue rose 13.3 percent to Kshs 146.0 billion for the year ended June 30, 2026, while earnings before interest and taxes excluding foreign exchange effects grew 33.9 percent to Kshs 33.3 billion. The board responded with a total dividend of Kshs 12.70 per share, up 58.8 percent, funded by a final payout of Kshs 8.70 that follows the interim dividend already…

The Director of Public Prosecutions has approved criminal charges against the chief executive officers of NCBA Bank, KCB Bank and Co-operative Bank, accusing them of failing to report suspected proceeds of crime tied to a Sh363.4 million fraud scheme. The three executives face charges under Section 5 as read with Section 44(2) of the Proceeds of Crime and Anti-Money Laundering Act. Prosecutors say the banks held accounts used to move funds allegedly stolen from First Assurance Investment Company Limited, and that the CEOs failed to flag suspicious transactions flowing through those accounts. They are set to take plea before the…