The long-awaited takeover of BOC Kenya PLC, a subsidiary of global industrial gases giant Linde, by Carbacid Investments PLC and Aksaya Investments LLP has officially collapsed, marking the end of a four-year saga filled with legal battles and regulatory hurdles. The deal, initially announced in January 2021, faced immediate turbulence when it was suspended just two months later following a legal challenge. The dispute stemmed from an appeal filed at the Capital Markets Tribunal (CMT) by Kuna Ngugi Kuna, a case that would go on to delay the transaction for more than three years. The appeal, CMT Appeal No. 2…
Author: Antony Mutunga
Antony Mutunga
Antony Mutunga holds a Bachelors degree in Commerce, Finance from Jomo Kenyatta University of Agriculture and Technology. He previously worked for Altic Investment & Consultancy before he joined NBM team in 2015. His interest in writing ranges from business, economics and technology. He is also our lead researcher in matters business.
Kenya is preparing to host the prestigious World Health Conference and Expo, organized by Informa Markets, in October 2025. The event, taking place in Nairobi, marks the first time such a large-scale global healthcare expo will be held in the region. This groundbreaking conference is expected to highlight Kenya’s progress in healthcare innovation, medical technology, and investment opportunities within the healthcare sector. As the world faces shifting disease patterns and technological advancements, the conference aims to bring together experts from commercial, academic, and professional fields to foster knowledge exchange, forge partnerships, and attract investments that will drive healthcare transformation in…
As Kenyans stand out as among Africa’s most tech-savvy populations, they continue to face a relentless battle against cyber threats. In Q2 FY2024-25, the period from October to December 2024, there has been an alarming surge in cyber-attacks, according to the National Kenya Computer Incident Response Team – Coordination Centre (National KE-CIRT/CC). The multi-agency detected over 840 million cyber threat events in the period, marking a staggering 27.82% increase from the previous quarter due to the growing sophistication and frequency of cybercriminal activities. The rise in cyber threats was largely attributed to the proliferation of Internet of Things (IoT) devices,…
The State Department for Public Works in collaboration with the UN Office for Project Services (UNOPS), the UN Department of Economic and Social Affairs (UN DESA), and the UN Capital Development Fund (UNCDF) have launched the strategic Infrastructure Asset Management Enabling Environment (IAM EE) Roadmap Action Plan, that proposes clear actions to enhance the country’s public infrastructure asset management practices. The roadmap was developed to identify and reinforce consistent, systematic strategies, policies, and actions at these levels, ensuring that infrastructure assets effectively support inclusive, resilient, and sustainable essential public services throughout their lifecycle. According to Joel Arumonyang, Principal Secretary for…
Tax revenue collection took a concerning dip in February as a result of slower economic activity, reduced consumer spending, or inefficiencies in tax collection processes. The drop is particularly significant when compared to previous years, where tax revenue trends have shown a mix of growth and occasional declines. According to data from the Central Bank of Kenya, tax collections reduced by 3.67% year-on-year to Sh151.8 billion as compared to Sh157.6 billion in February 2024. With tax revenue as the lifeblood of government operations, funding critical areas such as infrastructure development, public services, and social programs, a drop in collections could…
The National Bank of Kenya (NBK), a subsidiary of KCB Group PLC, has announced a significant turnaround in its financial performance for the FY2024, posting a profit after tax of Sh1.06 billion. This marks a remarkable recovery from an after-tax loss of Sh3.3 billion recorded in the previous year, driven by improved efficiency and strategic initiatives. The bank’s revenue growth was fuelled by balance sheet optimization and a strong focus on digital transformation, which has become a key pillar in its strategy. The implementation of a new core banking system and enhancements to its digital payments platform have significantly improved…
KCB Group has announced a remarkable performance for the fiscal year 2024, with its net profit increasing from Sh36.18 billion to reach Sh60.09 billion. This impressive growth was primarily driven by a robust increase in net interest income, highlighting the bank’s strong financial health and effective management strategies. The group’s total operating income for last year rose by 24% to Sh204.87 billion from Sh165.24 billion in 2023, driven by higher interest income and a strong non-funded income, particularly from foreign exchange trading. Despite an increase in total operating expenses to Sh122.89 billion, driven by rising staff costs, technology investments, and…
It was only recently that the Kenya Union of Savings and Credit Cooperatives (KUSCCO) saga was uncovered that saw savings and credit cooperative organizations (SACCOs) lose billions as a result of mismanagement, fraud, and regulatory loopholes. While it remains fresh in the minds of Kenyans, the cabinet has approved amendments to the Sacco Societies Act, 2008 in a bid to win back the eroded public trust in the sector and safeguard the interests of millions of Kenyans who rely on the financial institutions. The proposed reforms, encapsulated in the Sacco Societies (Amendment) Bill, 2023, aim to modernize the financial and…
Kaspersky’s Threat Research and AI Technology Research recently uncovered a highly sophisticated cyber deception campaign that exploited the growing popularity of DeepSeek AI, a generative AI chatbot, to distribute malware through fraudulent websites. Through advanced tactics such as geofencing, compromised business accounts, and coordinated bot networks, cybercriminals targeted millions of users. Hackers managed to create fake replicas of the official DeepSeek website, using domain names that mimicked the legitimate platform. These malicious sites employed geofencing technology to dynamically alter content based on the visitor’s geographic location, allowing the attackers to tailor their approach and evade detection. With millions of users…
Business confidence was at one of its lowest points on record in February 2025, as only a mere 5% of the surveyed firms expect to record growth in 2025, according to the Stanbic Bank Kenya Purchasing Managers’ Index (PMI). This gloomy outlook is fueled by persistent worries about increased competition and lingering economic uncertainty. This cautious sentiment persists even though the Kenyan economy managed to scrape together a fifth consecutive month of marginal growth as the Stanbic PMI increased from 50.5 in January to 50.6 in February. Only a slight improvement, growth remains fragile, as it continues to fall short…