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SBM Bank Kenya nine-month pretax profit rises 122% to KSh911 million
SBM Bank Kenya’s pretax profit rose 122% to KSh911 million in the nine months to September, supported by higher interest and non-interest income, deposit growth and a lower non-performing loan ratio, the lender said on Wednesday. Profit before tax increased from KSh411 million in the same period last year, while operating profit rose to KSh1.3…
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Safaricom expands cybersecurity push as Kenya records 11.12 billion threat events
Safaricom is stepping up its push to provide cybersecurity services to businesses as Kenya’s digital economy faces a rising volume of cyber threats, with the country detecting 11.12 billion threat events in the last financial year. The telco is positioning its enterprise technology services as a way for businesses, particularly micro, small and medium-sized enterprises…
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Absa names Kipchoge financial partner for global marathon tour
Absa Bank Kenya has named Kenyan marathon runner Eliud Kipchoge its Official World Tour Financial Partner, linking the lender to the athlete’s global initiative to run marathons across all seven continents. The announcement comes two days after Kipchoge won the Melbourne Marathon in a course-record time of 2:09:10. The 41-year-old two-time Olympic champion secured his…
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Sun King targets Kenyan businesses with affordable, heavy-duty PAYGo solar from $120
Solar energy company Sun King is targeting Kenyan businesses with affordable, heavy-duty solar power systems available through its pay-as-you-go (PAYGo) financing model from $120 a month, expanding into a higher-value segment of the country’s distributed-energy market. The company said on Thursday that its PowerHub solar inverter range now extends from 2.2 kilowatts to 30 kilowatts,…
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Kenya signs MoU for proposed $3 billion Geely-backed electric vehicle project
Kenya has signed a memorandum of understanding for a proposed $3 billion electric vehicle manufacturing project involving Chinese automaker Geely, the government said, as the East African country seeks to attract investment into clean transport and local manufacturing. The project, being developed with Endelevu Enterprise Corporation and Geely, would include an electric vehicle assembly plant…
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Unilever puts $540,000 into Kenya solar plant, targets $230,000 in annual savings
Unilever has invested about $540,000 (70 million Kenyan shillings) in an 800-kilowatt solar power system at its Nairobi factory, which the consumer goods maker expects will provide about 30% of the plant’s electricity and save $230,000 a year. The system became operational in June, Unilever said, as manufacturers in Kenya seek to manage electricity costs…
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Samsung expands Kenya retail network to 24 stores with Kisii opening
Samsung Electronics East Africa has opened its 24th Samsung Experience Store in Kenya, as the electronics maker expands beyond major urban markets. The new outlet at Naivas Mall in Kisii is operated by Samsung EIP partner Nexora Agencies and will serve consumers in Kisii and neighboring counties. The expansion comes as Kisii grows as a…
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Kenya’s Competition Authority clears Cable Experts’ East African Cables deal
Kenya’s Competition Authority has approved Cable Experts’ acquisition of a 68.37 per cent stake in East African Cables, clearing a key regulatory hurdle in the proposed takeover of the indebted electrical-cable manufacturer. The approval, published in the Kenya Gazette on October 2, allows Cable Experts to acquire 173.07mn shares in East African Cables held by…
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Old Mutual Kenya revamps savings products with 20-year terms, higher maturity values
Old Mutual Life Assurance Kenya has revamped its life and savings products, offering investment periods of up to 20 years, higher guaranteed maturity values and revised charges and surrender terms. The changes come as Kenyan households face difficulties maintaining long-term savings despite high access to formal financial services. Formal financial access reached 84.8% in 2024,…
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Safaricom FTTH customers rise 35% to 407,080 as company takes Home Internet support to estates
Safaricom’s Fibre-to-the-Home (FTTH) customer base rose 35% to 407,080 in the year ended March 2026, as the telecom operator expands its fixed network and takes Home Internet support directly to residential communities. Safaricom recently held a Home Internet Clinic at Avenue Park Phase 1 in Embakasi, giving residents direct access to technical teams, customer support…