Kenya and Finland have reaffirmed their commitment to strengthening bilateral ties, marking a significant step in fostering mutual cooperation across key areas of development. During the 13th Kultaranta Talks in Naantali, Finland, Mr Musalia Mudavadi, Prime Cabinet Secretary and Cabinet Secretary for Foreign and Diaspora Affairs, engaged in high-level discussions with several governing leaders including Elina Valtonen, Finnish Foreign Minister, building on the momentum of President Alexander Stubb’s state visit to Kenya in May 2025. The talks focused on the shared vision of both nations in advancing peace, sustainable development, and economic growth, with Finland pledging continued support in critical…
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 Airways’ (KQ) total debt increased to Sh142.79 billion in 2024, up from Sh141.70 billion the previous year, according to its latest financial record. This 0.8% rise comes despite aggressive repayment efforts and highlights the ongoing financial challenges facing the national carrier. The debt increase was driven primarily by Sh7.50 billion in new loans from local banks, which offset the Sh5.02 billion in repayments made during the year. While the airline successfully reduced its aircraft lease liabilities by Sh4.70 billion and paid down Sh320 million in local bank loans, these efforts were not enough to prevent overall debt growth. Accrued…
Fitch Ratings’ decision to downgrade the African Export-Import Bank (Afreximbank) to BBB- from BBB status has ignited a fierce debate over how international credit agencies assess African financial institutions. The move has been met with strong opposition from the African Peer Review Mechanism (APRM), which argues that Fitch’s analysis misrepresents the unique legal and institutional framework governing Afreximbank operations. The downgrade was attributed to concerns over rising credit risks and what Fitch described as “weak risk-management policies”. At the heart of the dispute is Fitch’s classification of loans to the governments of Ghana, South Sudan, and Zambia as non-performing, pushing…
The recent growth of generative AI has brought unprecedented productivity gains. However, beneath its impressive streak lies a looming privacy crisis—created by our own data. Platforms such as ChatGPT and Copilot continue to access sensitive information fed by users, potentially exposing businesses to serious compliance and privacy risks. Beyond basic identifiers like names and email addresses, users—including employees—routinely input proprietary data into AI systems. Whether rewriting client proposals, creating internal performance plans, or seeking improvements to confidential strategies, most users end up divulging far too much sensitive data. According to Anna Collard, SVP of Content Strategy & Evangelist at KnowBe4…
Global oil prices defied expectations by rising, even after the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) announced a decision to increase production by an additional 411,000 barrels per day in July, marking the third consecutive monthly hike. Brent crude rose to $65.20 per barrel as of June 2, 2025, up from $62.78 per barrel, while West Texas Intermediate (WTI) reached $63.14 per barrel, up from $60.79 per barrel. This unexpected uptick in oil prices can be attributed to the production increase being smaller than anticipated. Many investors had projected that the alliance would raise production by…
The banking sector already finds itself walking a tightrope in 2025, as the latest data from the Central Bank of Kenya (CBK) reveal a troubling trend. According to the CBK’s Credit Survey Report, gross loans increased in the first quarter of 2025 compared to the previous quarter, while total deposits declined. The survey indicates that gross loans rose by 0.6 per cent, climbing from Sh4.10 trillion in December 2024 to Sh4.12 trillion in March 2025, while total deposits experienced a marginal decline of 0.2 per cent, settling at Sh5.73 trillion in March 2025 compared to Sh5.74 trillion in the previous…
Africa’s economic future is looking bright, as its growth is projected to accelerate from 3.3 per cent in 2024 to 3.9 per cent in 2025 and 4 per cent in 2026, according to the latest African Economic Outlook report by the African Development Bank Group (AfDB). Despite geopolitical tensions, trade disruptions, and persistent global uncertainties, the continent continues to show remarkable resilience, driven by domestic reforms and improved macroeconomic management. While the global economy faces headwinds, Africa is poised to outperform many regions, trailing only emerging and developing Asia in growth rates. Almost half of African nations (21) are expected…
Absa Bank Kenya has posted a 4 per cent growth in net profit to Sh6.17 billion in the first quarter of 2025, compared to Sh5.94 billion during the same period last year, despite a challenging macroeconomic environment. The bank’s net interest income declined from Sh11.39 billion to Sh11.26 billion. Total interest income reduced to Sh15.05 billion due to a reduction in loans and advances to customers, while total non-interest income fell to Sh4.51 billion, attributed to reduced fees and commissions on loans and advances. During the period, loans and advances to customers decreased to Sh308.38 billion from Sh326.84 billion last…
For years now, a clear message has been emerging in Africa: the world’s power structures need an urgent rewrite. In fact, according to the latest Afrobarometer survey, this need for continent-wide consensus is growing, as seven in ten Africans demand greater influence for their nations in global decision-making bodies like the United Nations. This growing call among African countries is for equity, as they grow tired of the continent being sidelined in major discussions that shape the future of the world. While Africans generally feel their voices are heard within continental bodies like the African Union and regional economic communities,…
The government has announced a temporary freeze on the registration of new Savings and Credit Cooperative Organizations (SACCOs) for at least the next three months. The decision, which took immediate effect, was confirmed by the Ministry of Cooperatives and Micro, Small, and Medium Enterprises (MSMEs), signalling a period of internal restructuring and policy realignment. This move follows the discovery of fraudulent activities at the Kenya Union of Savings and Credit Cooperatives (KUSCCO), where deposits amounting to billions of shillings have been lost. This was announced by Wycliffe Oparanya, Cabinet Secretary for Cooperatives and MSMEs, during the inauguration of the Committee…