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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’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…
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Safaricom and Pesapal Target Faster Digital Payments in Kenya
Safaricom and payments company Pesapal are expanding digital payment options for Kenyan merchants and consumers, introducing QR-code and contactless transactions through Pesapal’s point-of-sale terminals. The partnership brings Safaricom’s M-PESA platform together with Pesapal’s merchant infrastructure at the physical checkout, as the companies seek to reduce the steps involved in completing everyday payments. Under the new…
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Luanda Emerges as Meeting Point for Africa’s Financial Leaders
Luanda will become the meeting point for Africa’s financial industry in November when more than 1,250 bankers, investors, regulators and policymakers gather for the annual Africa Financial Summit, placing Angola’s efforts to reshape its financial system at the centre of a wider debate over how the continent should finance its next phase of growth. The…
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Absa Bank Kenya Launches Neo-Banking Platform Absa Next
Absa Bank Kenya launched a digital banking platform that combines savings, investments, credit and payments, as the lender seeks to expand its digital customer base and compete with fintech companies in one of Africa’s most advanced mobile-money markets. TechMoran is reporting that Absa Next is available to existing Absa customers and non-customers and allows users…