Sanlam Kenya PLC’s Board of Directors has formally initiated its rights issue, following the successful acquisition of all necessary regulatory approvals from shareholders, the Capital Markets Authority (CMA), the Nairobi Securities Exchange (NSE), and the Insurance Regulatory Authority (IRA). This capital raising is strategically designed to substantially reduce the company’s existing long-term debt obligations and provide management with enhanced operational and financial flexibility to underpin future growth initiatives and a return to sustained profitability. This action aligns with Sanlam Kenya’s overarching objective of lowering the group’s debt to a manageable and sustainable level, thereby strengthening its financial position. The Sanlam…
Author: Muindi
Experience working on communication and marketing departments and in the broadcast industry. Interested in sustainable development and international relations issues.
Access Bank (Kenya) Plc has received the necessary approvals to finalize its acquisition of the National Bank of Kenya (NBK). The Central Bank of Kenya (CBK) Governor Dr. Kamau Thugge confirmed that National Treasury Cabinet Secretary John Mbadi approved the transaction as per gazette notice number 4667, dated April 11, 2025. This CBK approval grants Access Bank the authority to acquire 100% of NBK’s shareholding, which was previously held by the Kenya Commercial Bank (KCB) Group Plc. The acquisition encompasses NBK’s insurance subsidiary, NBK Bancassurance Intermediary Limited. According to the CBK, the National Treasury Cabinet Secretary (CS) John Mbadi granted approval…
Quartz is an engineered stone composed primarily of quartz crystals, resin, and bonding agents. This material combines aesthetic appeal and practical functionality, making it a favored choice for countertops in both residential and commercial environments. Quartz is a non-porous substance known for its remarkable durability, allowing it to endure daily wear while preserving its visual charm. It is available in a wide array of colors and patterns, accommodating various design preferences. Along with its resistance to scratches and stains, quartz is recognized for its eco-friendliness, which is attributed to sustainable manufacturing processes. This versatility renders it an ideal candidate for…
The Central Bank of Kenya (CBK) Governor Kamau Thugge has downplayed the potential impact of the proposed 10 percent tariff hike on Kenyan exports to the United States, stating that it is “unlikely to affect the economy.” Thugge specified that “Kenya exports goods worth approximately $650 million to the US annually, and even in an extreme scenario, the country could lose about $100 million in export earnings due to the tariff increase.” During the post-MPC meeting on Wednesday, April 9, 2025, Thugge elaborated, “While that’s a notable amount, it remains relatively small compared to our GDP of over $122 billion,…
The Gates Foundation (formerly the Bill & Melinda Gates Foundation) has announced its withdrawal from a controversial Host Country Agreement with Kenya that granted it diplomatic privileges and immunities. This decision follows legal challenges and public scrutiny that began after the agreement was formalized through Legal Notice 157 of 2024, published in the Kenya Gazette on October 18, 2024, and commenced on October 4, 2024. In June 2024, President William Ruto’s cabinet approved the establishment of the Gates Foundation’s operations in Kenya, citing its potential to support the administration’s healthcare goals and incentivize investment. This decision was followed by the…
Kenya’s private sector activity expanded at its fastest rate in ten months in March, with the Stanbic Bank Kenya Purchasing Managers’ Index (PMI) rising to 51.7 from 50.6 in February. This was the highest reading since May 2024, indicating growth (readings above 50.0). The improvement was driven by robust increases in output and new orders across most sectors, particularly services, wholesale, and retail. However, the manufacturing sector experienced a contraction in demand. Economist Christopher Legilisho of Stanbic Bank noted the widespread expansion, contrasting it with the soft demand in manufacturing. The March 2025 PMI also showed a year-on-year increase of…