Author: Muindi

Kenya’s inflation rate fell to 3.8% year-on-year in May 2025 from 4.1% in April, the Kenya National Bureau of Statistics (KNBS) reported on Friday. On a month-on-month basis, inflation rose by 0.5% in May, up from 0.3% in April. The increase in prices was mainly driven by a 6.3% rise in the food and non-alcoholic beverages index and a 2.3% increase in the transport index compared to May 2024. Housing, water, electricity, gas, and other fuels also contributed with a 0.8% rise over the same period. Kenya’s inflation remains comfortably within the Central Bank of Kenya’s target range of 2.5%…

East African Cables PLC has suffered a setback in its ongoing legal dispute with Equity Bank (Kenya) Limited, as the Court of Appeal dismissed its application for an injunction. As a result, the bank will proceed with the sale of four key properties. This development impacts the cable manufacturer, which is grappling with a reported debt exceeding Ksh 2.2 billion. The Court of Appeal’s decision, delivered by Justices J. Mohammed, Tuiyott, and Nyamweya, upheld a November 11, 2024, High Court ruling that had initially rejected East African Cables’ attempt to halt the property sales. The properties in question—L.R. No. 209/4235,…

The Kenyan government plans to discontinue the decade-old examination fee waiver in 2026 and shift to a targeted subsidy model for national exams. This means parents will generally be required to pay for their children’s national examination fees, including the Kenya Certificate of Secondary Education (KCSE), Kenya Primary School Education Assessment (KPSEA), and Kenya Junior Secondary Education Assessment (KJSEA, unless they are identified as “needy” through a yet-to-be-detailed means-testing system. John Mbadi, Cabinet Secretary for National Treasury and Economic Planning, announced the policy change, emphasising fiscal responsibility and fairness. He argued that parents who can afford high tuition fees for…

Michael Joseph is stepping down as Board Chairman of Kenya Airways PLC, concluding an eight-year tenure. His departure was confirmed in a notice issued ahead of the airline’s 49th Annual General Meeting (AGM) on June 13, 2025. Kenya Airways stated that Joseph “will not stand for re-election” as he has “reached the maximum term allowed under the Board Charter.” The notice further clarified: “Mr. Michael Joseph retires in accordance with Article 69 of the Company’s Articles of Association and is not eligible for re-election having attained the maximum tenure under the Board Charter.” Joseph was appointed Chairman and Independent Non-Executive…

NCBA Group Plc announced a net profit of KSh 5.5 billion for the first quarter of 2025, marking a 3% increase year-on-year from KSh 5.3 billion in Q1 2024. This growth was fueled by an 8% rise in operating income and a notable improvement in net interest margin (NIM) to 6.1%, which is the highest in recent years. Profit before tax (PBT) saw a 4.5% increase, reaching KSh 6.8 billion from KSh 6.5 billion in the comparable period. Despite the positive earnings, the group’s balance sheet contracted. Customer deposits decreased by 9.5% to KSh 496 billion, and total assets were…

Family Bank Group reported a 15.4% year-on-year increase in net profit for the first quarter ended 31 March 2025, reaching KSh 1.05 billion—the first time the bank has surpassed the KSh 1 billion profit mark in a single quarter. Key Financial Performance Drivers Total interest income grew by 23%, from KSh 4.46 billion in Q1 2024 to KSh 5.48 billion. Net interest income surged by 34% to KSh 3.25 billion, driven by higher returns from government securities and an expanding loan book. Non-interest income increased by 44% to KSh 1.71 billion, supported by elevated fees and commissions on loans. However, forex trading income declined sharply by 71%, falling to KSh 93.6 million from KSh 327.5…