Ruto-linked PSV Insurer Increases Market Share to 37.5%
Africa Merchant Assurance Company (Amaco), connected to President William Ruto through family shareholdings, has more than doubled its presence in the public service vehicle (PSV) insurance market, reaching a 37.5% market share in 2025. This rise positions Amaco as a strong challenger to Directline Assurance, owned by media mogul Samuel Kamau (SK) Macharia, whose market […]
What’s Behind the Freeze on New SACCO Registrations?
The Kenyan government has placed a three-month freeze on new registrations of Savings and Credit Cooperative Societies (SACCOs) following revelations of widespread financial malpractice at the Kenya Union of Savings and Credit Co-operatives (KUSCCO). The suspension, effective May 21, 2025, is part of an extensive effort to restore governance, accountability, and trust in the SACCO […]
Fastest Growing Companies in Kenya 2025
Twelve Kenyan firms have been ranked among Africa’s fastest-growing companies in 2025, according to the latest report by the Financial Times and data analytics firm Statista. The third annual ranking evaluates 130 companies across the continent based on their compound annual growth rate (CAGR) and absolute revenue growth from 2020 to 2023. To qualify, companies […]
What Keeps Putting Equity Group Ahead of the Competition?
Equity Group Holdings Plc continues to lead Kenya’s banking sector through a mix of innovation, financial inclusion, and consistent performance across regional markets. In 2025, it became the only bank in East Africa to receive Superbrand recognition for the fourth time, following evaluations by Superbrands East Africa based on product quality, reliability, and brand identity. […]
High Court Summons Kamau Thugge Over AfrAsia-Chase Bank Dispute
The High Court has summoned Central Bank of Kenya (CBK) Governor Kamau Thugge to appear on June 3, 2025, over a legal dispute involving a $7.5 million (Sh970 million) deposit. The deposit was made by Mauritian lender AfrAsia Bank with the now-collapsed Chase Bank (Kenya) Ltd. The summons, issued by Justice Francis Gikonyo, is the […]
Why Are Nigerian Banks Struggling in Uganda?
When Nigerian banks first arrived in Uganda, they came with bold intentions. United Bank for Africa (UBA) entered in 2008, followed by Guaranty Trust Bank (GTBank) in 2013. Both lenders projected confidence, backed by their continental networks and strong brand names, and vowed to introduce new competition in a market long dominated by East and […]
Kerry’s East Africa CEO Forum Unites 100 F&B Leaders to Reshape the Industry’s Future Through Insights and Innovation
In a contribution towards transforming East Africa’s food and beverage landscape, Kerry, a global leader in taste and nutrition, in collaboration with Strathmore Agri-Food Innovation Center (SAFIC) at the Strathmore University Business School, convened over 100 influential leaders at the inaugural CEO Forum. Themed “Insights and Innovations in the Food and Beverage Industry,” the event […]
Sidian Bank Secures Five Awards at the 2025 Think Business Banking Awards
Sidian Bank has secured multiple recognitions across key categories at the recently concluded Think Business Banking awards that was held in Serena Hotel Nairobi. The bank was named Best Bank in Mobile Banking 1st Runner-Up, Best Bank with the Lowest Tariff-1st Runner-Up, Best Bank in Agriculture and Livestock Financing 1st Runner-Up, and 2nd Runner-Up for […]
What Are the Most Profitable Banks in Africa?
Africa’s banking sector is home to some of the continent’s largest and most profitable financial institutions, which serve as key drivers of economic growth and development. These banks provide essential financial services such as retail banking, corporate lending, investment banking, and digital banking solutions, supporting businesses and individuals alike. Their extensive networks across multiple African […]
Is Sending Money to Kenya About to Get Too Expensive?
If you’re a Kenyan living in the United States, sending money back home might soon come with an unexpected price tag. A new bill proposed by U.S. Republican lawmakers under the Trump administration seeks to impose an excise tax on international money transfers sent by immigrants, including Kenyans, sparking concern over its economic impact on […]