State fuel transporter debuts as one of the largest firms on the Nairobi bourse after the government sells a 65% stake through a historic IPO. The Kenya Pipeline Company (KPC) has officially begun trading its shares on the Nairobi Securities Exchange (NSE), marking a historic moment for Kenya’s capital markets as the state-owned fuel transporter enters the stock market with a market capitalization of about Sh163.6 billion. The listing follows a successful initial public offering (IPO) in which the Kenyan government sold a 65 percent stake in the company to investors, raising approximately Sh106.3 billion — one of the largest…
Author: NBM CORRESPONDENT
The Aga Khan Fund for Economic Development (AKFED) has announced the sale of its controlling stake in Nation Media Group (NMG), marking the end of a 66-year relationship with one of East Africa’s most influential media houses. The development follows an agreement in which AKFED sold its entire shareholding in NPRT Holdings Africa Limited to Taarifa Ltd, a company owned by Tanzanian businessman Rostam Azizi. NPRT Holdings Africa Limited holds 54.08 per cent stake in Nation Media Group, representing more than 92 million ordinary shares in the company. The transaction effectively hands Azizi the controlling interest in the Nairobi-based media…
Residents of Murang’a are feeling the strain of rising egg prices, with traders attributing the high cost to a low supply of eggs in the market. A spot check by KNA in several shops and egg outlets within Murang’a town revealed that the price of eggs has risen by more than 30 per cent in the past few weeks. Some traders have attributed the increase to the high cost of poultry feed, rising transport costs, and reduced production due to cold weather caused by ongoing rains in the region. In Murang’a town, egg wholesaler Emma Wanjiru noted that the price…
Absa Bank Kenya PLC has reported a 10 per cent growth in profit after tax, reaching Sh22.9 billion for the year ended 31 December 2025, driven by resilient revenue streams, disciplined cost management, and improved asset quality. The lender’s total revenue for the period stood at Sh61.4 billion, reflecting the impact of changes in the interest rate environment. While net interest income declined by 6 per cent to Sh43.3 billion, non-interest income grew strongly by 12 per cent to Sh18.1 billion, largely supported by expansion in the payments business and digital channels. Speaking during the release of the annual financial…
In a thrilling finale to the Nairobi County Cricket Association (NCCA) T20 League, Swamibapa A emerged victorious, defeating Sir Ali A by a resounding 10 wickets at the Ruaraka ground to retain their T20 Crown in style. The match was a masterclass by the Swamibapa A team, who showcased exceptional bowling and batting prowess without losing a single wicket. Sir Ali A, who won the toss and elected to bat first, were restricted to a paltry 88 runs in 17.2 overs. Shem Ngoche was the star of the match, claiming 4 crucial wickets to help Swamibapa A restrict their opponents…
Kenya’s golf calendar is set to welcome a new fixture as the inaugural Invest Kenya Golf Tournament (IKGT) tees off on 27th March 2026 at Muthaiga Golf Club. The tournament, which will be played in a Stableford format, is expected to attract approximately 200 players, including local and international corporate players and selected professional golfers from Kenya’s expanding golf scene. Hosted at Muthaiga Golf Club, one of Africa’s most prestigious championship courses and home to leading international tournaments, the event adds a high-profile fixture to Kenya’s golf ecosystem while reinforcing the country’s reputation as a major golf destination. Absa is…
For Li Qiaoyang, a young travel enthusiast from east China’s Shandong Province, a dream vacation isn’t museum hopping in Europe or a beach break in Southeast Asia. Instead, he’s dreaming of the wild African savannah. “I have been to Egypt and Morocco in North Africa, and I want to travel to Tanzania this year to photograph animals,” said Li, who was born in the 1990s. Having explored the pyramids and the Luxor Temple in Egypt in 2016, and taken a road trip through Casablanca and the Sahara Desert in Morocco in 2020, Li is captivated by the African continent. “Africa’s…
Nikhil Sachania, the fearless paraplegic rally driver, is gearing up to defend his WRC 3 title at the upcoming WRC Safari Rally Kenya. The Nairobi-based driver is almost ready to hit the dusty roads of Kenya, with his Ford Fiesta Rally3 undergoing final preparations in the Kenyan Capital. “We are almost there,” Sachania said in an interview. “The car is prepared, just a few more things before we are ready for the rally. It’s the same car we used last season, and we won the WRC3 category. We hope to push for the same this year, although it will be…
The Kenya Pipeline Company (KPC) has presented a KSh 500,000 sponsorship cheque to staff member Ms. Linet Ayuko in support of her participation as a navigator in the upcoming WRC Safari Rally scheduled to take place in Naivasha from 12th to 15th March 2026. Ms. Ayuko will be competing as a navigator alongside her driver, Pauline Shegu, in one of the most iconic events on the World Rally Championship calendar. The Safari Rally attracts international drivers, teams, media and motorsport enthusiasts from across the globe, positioning Kenya prominently on the world stage. The sponsorship underscores KPC’s continued commitment to empowering…
The Competition Authority of Kenya (CAK) has imposed a penalty on Guaranty Trust Bank Kenya Limited (GT Bank) for what it describes as misleading representations and unconscionable conduct against one of its corporate clients. The watchdog has ordered the lender to pay a pecuniary penalty of Sh33.2 million representing 2% of its gross annual turnover for 2023, in addition to refunding Sh13.2 million to the complainant, ASL Limited, for improperly levied fees and charges. Following this move, GT Bank appealed the decision to the Competition Tribunal, and the matter is now sub judice. CAK’s ruling stems from a complaint lodged…
