Kenya's Top Energy Officials Resign Over G2G Fuel Scandal
Kenya's Executive Office of the President has announced the resignation of three senior energy officials: PS Mohamed Liban, KPC Managing Director Joe Sang, and EPRA Director General Daniel Kiptoo Bargoria, following a DCI investigation into an alleged scheme to falsify national fuel stock data and trigger emergency procurement outside the G2G framework. The shipment, carried aboard MV Paloma and docked in Mombasa on 27-29 March 2026, was procured above contracted rates and found non-compliant due to elevated sulphur levels. Investigations continue.
Africa's Small Businesses Deserve World Class Banking
Micro, Small and Medium Enterprises (MSMEs) form the backbone of the global economy, yet their growth is constrained by limited access to finance.
March Wipes KSh 343Bn From NSE Shareholders as Middle East War Bites
The NSE closed March 2026 with every major index down between 8.5% and 10.5%. The NSE 10 led losses at -10.49%, the Banking Index fell 8.89%, and the NASI declined 9.84%. Only 7 of 69 listed stocks gained. Foreign investors sold KSh 4.28Bn net across 17 of 22 sessions. Market cap fell KSh 179Bn to KSh 3.23Tn, though the KPC listing in early March masks a deeper KSh 343Bn hit to existing shareholders. Week 13 erased KSh 231Bn, the second worst week since 2008. Banks closed at a median 5.4x P/E and 8.3% dividend yield amid record earnings.Kenya's Listed Firms Post Highest Governance Score in 8yrs, Mandatory ESG Disclosures Loom for 2027
Kenya's 53 listed issuers scored 78.88% on the Capital Markets Authority's FY2024/2025 corporate governance scorecard, the highest in eight years of assessments and only the second time the Leadership Rating threshold has been crossed. Leadership-rated companies rose from 27 to 38 while Needs Improvement issuers fell from 4 to 2, down from 17 in FY2017/2018. All seven CG Code principles reached Leadership Rating simultaneously for the first time. Agriculture remains the only Fair-rated sector at 62.80%. Mandatory IFRS S1 and S2 sustainability disclosure standards are targeted for adoption from January 2027.Kenya's Listed Companies Have Been Shortchanging Shareholders, CMA Report Reveals
Kenya's Capital Markets Authority FY2024/2025 governance report has found that listed companies are delegating to their boards the approval of policies expressly reserved for shareholders under Clause 8.21 of the POLD Regulations 2023, conducting AGMs too short for shareholders to question management, and have for years operated boards filled with directors misclassified as independent. Sixteen of 53 assessed companies have not reached Leadership Rating on the Rights of Shareholders principle. The Agricultural sector scored 62.22% on shareholder rights, the weakest sectoral performance. The Minority Shareholders Association of Kenya has been formally registered in response to these accumulated failures.CIC Insurance Posts 82% Profit Drop as Underwriting Fails
CIC Insurance Group posted a net profit of Ksh 513.8 Mn for the full year ended December 2025, down 82% from Ksh 2.86 Bn a year earlier, as the group's insurance service result swung to a loss of Ksh 176.0 Mn and a Ksh 1.0 Bn property revaluation gain that inflated 2024 earnings was absent. Insurance service expenses grew 16.4% to Ksh 28.21 Bn against premium revenue growth of 11.8% to Ksh 29.46 Bn. Net investment result fell 58.2% to Ksh 1.60 Bn. Asset management revenue was the standout, growing 40.7% to Ksh 1.78 Bn. The board maintained the dividend at Ksh 0.13 per share.How Kenya Can Navigate Economic Shocks from the Middle East War
Kenya’s current “wait and hope” approach is not economically or politically feasible. Calm and calculated decisions have to be taken to avoid a deeper crisis.
Lessons from Japan's Keiretsu in Building Sophisticated Kenyan Conglomerates
Lessons from Japan’s Zaibatsu and their post-war successors, the Keiretsu, suggest that sophisticated conglomerates can play a central role in strengthening national competitiveness, expanding industrial capacity, and driving innovation.How the World Is Handling the Worst Energy Crisis in Decades
Across the world, economies are staring at multifold crises triggered by the latest, ongoing conflict pitting Israel and the United States against Iran.
BBB- to Default: S&P and Fitch Rate Five African Nations
S&P Global Ratings downgraded Senegal's local currency sovereign rating four notches to CCC+ on March 27, 2026, citing gross financing needs of 26% of GDP, a suspended IMF program, and government debt estimated at 131% of GDP. In the same 48-hour window, S&P affirmed Morocco at investment-grade BBB- and Ghana at B-, while Fitch affirmed Tanzania at B+ Stable. Mozambique's selective default local currency rating was also affirmed alongside a CCC+ foreign currency rating with Negative outlook. The five actions were shaped by the Middle East war, IMF program access, and commodity exposure.NSE Suffers Worst Week Since Covid 19 Week, Oil Shock Wipes KSh 231Bn From Market
The Nairobi Securities Exchange recorded its worst week since COVID-19, erasing KSh 231.17Bn across five consecutive losing sessions in the second largest weekly decline since 2008. The Banking Index fell 8.03%, posting its worst day since launch on Thursday. The NSE 10 lost 9.02%, also a record worst week. ABSA dropped 14.5%, KCB shed 10.5%, and Equity fell 9.8%. Brent crude closed above $106 after Iran rejected US peace talks, with Kenya facing a fuel price shock at the April 15 EPRA review. Foreign investors were net sellers at KSh 503.76M. Market cap fell to KSh 3,241Bn. YTD gains narrowed from 12.24% to 4.76%.Treasury CS Mbadi Rules Out New Taxes In Finance Bill 2026
Treasury is betting that tighter enforcement, digital tax collection and broader compliance can raise enough revenue to support the next budget.
