Kenyans abroad sent home USD 436.6 million in July 2026, a sharp rebound from the USD 375.6 million recorded in June and a 16.2 percent jump month on month. The Central Bank of Kenya attributed the recovery to stronger inflows from key source markets, reversing a slide that had pulled monthly remittances to their lowest point since early 2026. Remittances remain one of Kenya’s largest sources of foreign exchange, and the Central Bank has repeatedly flagged them as a pillar of support for the balance of payments. When inflows swing this much from one month to the next, it shapes…
Author: Muindi
Muindi
Experience working on communication and marketing departments and in the broadcast industry. Interested in sustainable development and international relations issues.
Motorists and transporters have something to cheer this month. The Energy and Petroleum Regulatory Authority has cut the price of diesel by Sh5 a litre for the pricing cycle running from August 15 to September 14, 2026, while leaving petrol and kerosene untouched. In Nairobi, diesel now retails at Sh217.86, down from Sh222.86 in the previous cycle. Super petrol stays at Sh214.03 a litre and kerosene remains at Sh191.38. The new prices took effect at midnight on August 14 and will hold until the next review in mid September. EPRA credited the price freeze on petrol and kerosene to fresh…
Absa Group has agreed to sell its entire stake in First Assurance Company Limited and Absa Life Assurance Kenya Limited to First Assurance Investments Limited, the same shareholder it bought the businesses from a decade ago. The Johannesburg based lender confirmed on August 13, 2026, that it signed a sale and purchase agreement to hand over its 63.32 percent shareholding in both entities. First Assurance Investments already held a minority stake in the two firms, so the deal effectively returns full ownership to the local shareholder Absa first partnered with when it entered the Kenyan insurance market. The transaction still…
SanlamAllianz Holdings Kenya Plc closed the first half of 2026 with a net profit of Kshs 124.6 million, a fourfold jump from the Kshs 30.9 million the group posted in the same period last year. The insurer released its unaudited results Wednesday, pointing to premium growth and tighter cost control as the drivers behind the turnaround. Insurance revenue rose to Kshs 2.2 billion for the six months to June 2026, up from Kshs 2.17 billion a year earlier. The insurance service result fell to Kshs 241.3 million from Kshs 368.4 million, as claims and service expenses climbed faster than revenue.…
The Capital Markets Authority has approved a fresh batch of unit trust sub-funds and Kenya’s newest Alternative Investment Fund, widening the menu of regulated savings products available to investors just as competition among fund managers intensifies. The approvals, announced August 12, touch four firms and range from shilling money market products to a climate focused fund targeting small businesses across East Africa. Britam enters the multi asset race Britam Asset Managers has registered two new sub-funds under its existing Britam Unit Trust Funds umbrella: the Britam Multi Asset Special Fund, denominated in shillings, and the Britam Enhanced Global Equities Special…
The National Treasury has set out a record Sh5.323 trillion budget for FY2027/28, the first time Kenya’s spending plan will cross the Sh5 trillion mark. The proposal, contained in the Draft 2026 Budget Review and Outlook Paper (BROP) released this month, pushes total expenditure up from Sh4.86 trillion in the current financial year and represents 23.1 percent of GDP. The BROP sets the fiscal groundwork for the 2027 Budget Policy Statement, due before Parliament by end November. Treasury has opened the document for public comment, with submissions due by August 19. Where the money goes Recurrent spending absorbs the bulk…