Absa has lost another senior executive, and this time the departure marks a turning point rather than a setback. Yasmin Masithela, the bank’s former interim chief executive of Corporate and Investment Banking (CIB), opted for early retirement, stepping down from her executive role on 30 June 2026. She will serve out her contractual notice period on garden leave until the end of December. Her exit follows that of Punki Modise, head of strategy and sustainability, who left earlier this year, and comes as South Africa’s third largest bank rebuilds its executive ranks around a pan-African growth strategy. Absa credited Masithela…
Author: Muindi
Muindi
Experience working on communication and marketing departments and in the broadcast industry. Interested in sustainable development and international relations issues.
Private equity firm Adenia Partners has taken majority control of Minet Group, acquiring the insurance brokerage and risk advisory firm from Capitalworks in a deal that closed on 30 June 2026 after clearing regulatory approval across every market the business operates in. Financial terms were not disclosed, but the transaction ranks among the more consequential private equity moves in African financial services this year, handing Adenia control of one of the continent’s largest independent insurance distribution platforms. What Minet Actually Does Minet operates across nine African countries, Botswana, Kenya, Lesotho, Malawi, Mozambique, Namibia, Tanzania, Uganda and Zambia, offering insurance brokerage,…
The Kenya Revenue Authority has opened a new tax amnesty window, giving taxpayers until the end of the year to clear old debts without paying a shilling in interest or penalties. The programme, re-introduced under the Finance Act 2026, took effect on 1 July 2026 and runs through 31 December 2026. It waives 100% of penalties, interest, and fines on tax debts accrued up to 31 December 2025. KRA says the initiative builds on two earlier amnesty cycles that recovered Kshs 80.9 billion in principal tax payments while bringing thousands of taxpayers back into compliance. Who Qualifies Automatically Two groups…
MultiChoice wants African fans to watch this year’s FIFA World Cup on DStv, not on a pirated stream, and it is putting real weight behind that ask. SuperSport secured broadcast rights to all 104 matches of the 2026 tournament, the largest edition in the competition’s history, and paired that investment with a direct appeal to fans: choose legal platforms, or risk undermining the very system that makes African football coverage possible. The message carries extra weight this year for a simple reason. Ten African nations qualified for the 2026 tournament, the biggest continental contingent the World Cup has ever seen.…
Absa Group has told shareholders to expect broadly flat earnings from its Africa Regions business in the first half of 2026, as a deteriorating economic backdrop and margin compression cut into a division that delivered some of the bank’s strongest growth just a year earlier. The Johannesburg-listed lender issued a voluntary trading update on 30 June, ahead of a pre-close call with analysts and investors. The update covers the six months to 30 June 2026 and lands at a rough moment for the stock: Absa shares have fallen 10.3% over the past five days, a slide that tracks closely with…
Kenya’s annual inflation cooled for the first time in three months, slipping to 6.4% in June 2026 from 6.7% in May, as softer food and energy costs took some pressure off household budgets, the Kenya National Bureau of Statistics reported. The reading keeps price growth within the Central Bank of Kenya’s target band of 2.5% to 7.5%, though it still sits above the bank’s preferred midpoint of 5.0%. Month on month, prices rose 0.2%, pushing the Consumer Price Index to 154.91 from 154.56 in May. Why The Central Bank Held Rates Steady The Monetary Policy Committee left the Central Bank…