KCB Bank Kenya has secured Sh12.9 billion from the European Bank for Reconstruction and Development (EBRD) to provide financing to businesses owned by women and young people, as well as firms investing in environmental projects. The bank, which is part of KCB Group, said 35 percent of the funding will support enterprises run by women and youth, while 30 percent will go towards green projects aimed at helping businesses adopt climate-friendly technologies and sustainable practices. The facility marks the EBRD’s first investment in Kenya’s banking sector since the institution was established in 1991. “By partnering with KCB Bank, we are…
Author: NBM CORRESPONDENT
Standard Chartered Bank Kenya has paid pension dues to 522 of 629 former employees who won a long-running retirement benefits dispute, following a Supreme Court decision delivered in September 2025. By May 2026, the bank had paid 83 per cent of the claimants, while the remaining cases were pending submission or verification of the required documentation. The payments follow fresh retirement-benefit demands from former employees who were not part of the original 16-year legal battle that resulted in the Supreme Court ruling. The lender said in November 2025 that it had incurred Sh7.2 billion in settling the entitlements of the…
Kenya’s aviation workers have suspended their planned nationwide strike after reaching a government-brokered return-to-work agreement. The agreement, signed on July 27, 2026, involved the Kenya Aviation Workers Union (KAWU), Kenya Airports Authority (KAA), Kenya Civil Aviation Authority (KCAA), Kenya Airways and other stakeholders. KAWU Secretary-General Moss Ndiema said the strike notice issued on July 20 had been suspended, assuring passengers that there would be no disruption to flights. “I confirm that our strike action through a strike notice issued on July 20 stands suspended, and there is no anticipation of any disruptions arising from the intended strike action,” Ndiema said.…
A coalition of 25 US companies, including Nvidia, is urging the White House not to impose broad restrictions on open-weight AI models as Washington weighs its response to Chinese AI systems on “national security” grounds. In an open letter released on Friday, the group warned against “premature restrictions” on open-weight models, drawing parallels with fears over open-source software in the 1980s. It argued that AI leadership will be determined not by a single frontier model, but by the ability to build “a strong, open ecosystem that diffuses into every sector”. The signatories described open-weight models — whose core components can…
As East Africa faces increasing threats from recurrent outbreaks of Ebola, Marburg and other infectious diseases, the East African Community, or EAC, on Wednesday launched a regional virology center in Uganda aimed at strengthening disease surveillance and pandemic preparedness across member states. The Uganda Virus Research Institute, or UVRI, based in Entebbe, was designated as the EAC Regional Centre of Excellence in Virology, becoming a regional hub for advanced virus research, laboratory training, disease surveillance, diagnostics and knowledge sharing. The launch came as countries in the region continue to contend with repeated public health emergencies that have exposed weaknesses in…
US President Donald Trump once called cryptocurrency a “scam”. It’s now a major moneymaker for him: his just-released annual financial disclosure shows he made more than US$1 billion from cryptocurrency last year. This news has raised the ire of Trump’s critics. Juliana Stratton, the Illinois lieutenant governor and a Democratic Senate candidate, accused Trump of using his public office “to make billions while American families struggle to afford their basic needs. His infinite greed is disgusting.” The White House denied Trump or his family has engaged in conflicts of interest. Deputy press secretary Anna Kelly said “all actions by President…
SBM Bank Kenya more than doubled its half-year profit as stronger lending, higher customer deposits and improved loan recoveries boosted earnings during the first six months of 2026. The lender posted a pre-tax profit of Sh548 million for the six months ended June 30, 2026, up by 171 per cent from Sh202 million recorded in the same period last year. Customer deposits also grew by 24 per cent to Sh94 billion, while net loans and advances increased by 18 per cent to Sh54.1 billion, signalling stronger customer activity and confidence in the bank. The bank also strengthened its balance sheet,…
Kenya’s air passenger traffic hit a record 13.1 million passengers in the year to June 2026, rising from 12.95 million the previous year despite weaker international travel demand linked to disruptions in the Middle East. The growth was largely driven by a strong increase in domestic travel, which offset slower international passenger numbers during the period. Preliminary data from the Kenya Airports Authority (KAA) show that passenger traffic increased by one per cent during the year, with about 145,000 additional passengers passing through Kenyan airports compared with the previous year. KAA Managing Director Moses Wekesa said disruptions caused by the…
Shipping stakeholders have called for urgent investment in transport infrastructure to strengthen connectivity and help the Port of Lamu become a competitive regional gateway. The appeal was made during a stakeholder engagement and commercial tour of the port on Monday, July 20, bringing together members of the Kenya Ships Agents Association (KSAA), shipping lines and the Kenya Ports Authority (KPA). The meeting focused on strategies to accelerate business growth at Kenya’s second commercial seaport as vessel traffic and cargo volumes continue to rise. The shipping agents cited inadequate cargo-handling equipment at the quay and container yard, while calling for the…
The Competition Authority of Kenya (CAK) has investigated leading supermarket chains including Naivas, Carrefour and Quickmart over complaints from shoppers alleging misleading shelf pricing. The complaints relate to instances where supermarkets allegedly displayed lower prices on shelves and promotional materials than those charged at the checkout. CAK also investigated claims that some retailers may have inflated prices before advertising discounts, making promotions appear larger than they actually were. In one case, according to CAK’s latest annual report, Carrefour refunded shopper Lena Gathiri after she complained that she was charged a higher price at the counter for a five-kilogramme Dawaat rice…
