Author: Muindi

Sidian Bank expanded its profit after tax by 82.4% to KSh 1.72 billion for the half-year ended 30 June 2026, up from KSh 0.94 billion in the same period last year. Profit before tax rose 57.7% to KSh 2.15 billion, buoyed by non-funded income streams and higher yields on public debt holdings. Non-interest income expanded 103.8% to KSh 3.68 billion, propelling total operating income up 48.8% to KSh 8.11 billion. This shift reflects recent institutional mandates, including primary banking collections for county governments and public revenue agencies, which broadened fee collection and liquidity intake. The bank continued allocation into risk-free…

Family Bank Limited shares climbed 81% between June 23 and July 31, 2026, rising from KES 18.00 to KES 32.50 and lifting the lender’s market capitalisation from KES 29.9 billion to KES 54.0 billion. The rally followed the bank’s debut on the Nairobi Securities Exchange and coincided with unaudited first half results showing group profit after tax up 62% year on year. From OTC to NSE Family Bank listed on the Nairobi Securities Exchange on June 23, 2026, by way of introduction, meaning no new shares were issued and no capital was raised. The bank moved 1.66 billion existing shares…

The Central Bank of Kenya has opened a new payment channel for government securities. Investors can now settle successful bids for Treasury bills and bonds through M-Pesa, moving up to Sh250,000 directly from their phones. The update inside DhowCSD, the digital platform CBK built to let ordinary Kenyans buy and manage government securities without going through a broker. Until now, settling a winning bid meant a separate trip to a bank or a manual transfer. M-Pesa closes that gap. How the Payment Works Investors initiate payment from the Transactions tab inside the DhowCSD mobile app or web portal, then complete…

Jumia Technologies has priced a $50 million equity raise led by the International Finance Corporation, adding cash as the pan African e-commerce company works toward break even. The International Finance Corporation, the private sector arm of the World Bank Group, will invest $25 million. Axian and other investors will supply the rest. Investors will buy about 9.1 million American depositary shares at $5.52 each. Jumia Technologies AG trades on the New York Stock Exchange under the ticker JMIA. Cash Position Prompted the Raise Jumia’s cash position has declined through 2026. Liquidity stood at $48.3 million at the end of June,…

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…

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…