NSE Loses KSh 96Bn in 7th Biggest Daily Drop Since 2008
The Nairobi Securities Exchange recorded its 7th largest single-day loss since 2008 on March 23, 2026, with KSh 96.02Bn in market value wiped out. Safaricom alone shed KSh 54Bn, accounting for over half the decline. The selloff, driven by the Iran war and Strait of Hormuz closure, hit a market that had rallied from KSh 2.94Tn to above KSh 3.5Tn on domestic capital alone, with foreign investors net sellers throughout. The launch of Ziidi Trader in February amplified retail participation but left the market exposed when institutional holders distributed into the rally. Market cap fell to KSh 3.38Tn but remains up 14.69% YTD.
KRA Proposes to Scrap KSh 5mn VAT Threshold
KRA is proposing to remove the KSh 5 million VAT registration threshold, requiring all businesses to charge and remit 16% VAT. The move aims to expand revenue collection but could increase costs for small traders and consumers.
The Strait of Hormuz: How Kenyan Businesses Can Navigate Price Shocks
What is critical for leadership teams, lenders and policymakers to acknowledge is that energy price shocks do not create weaknesses in balance sheets. They expose existing ones.
Africa’s Billionaires Add Over US$ 20Bn as Combined Wealth Crosses US$ 126.7Bn
Africa’s 23 billionaires increased their combined wealth to US$ 126.7 billion in 2026, adding more than US$ 20 billion as equity markets rallied. Nigeria’s Aliko Dangote remains the richest person on the continent, while Abdulsamad Rabiu recorded the largest wealth gain.Over 50% Of Kenya’s Ride-Hailing Drivers Now Rely on It as Primary Source of Income - Bolt/IPSOS Study
A study by ride-hailing app Bolt, in collaboration with Ipsos, shows that 53% of ride-hailing drivers in Kenya now rely on the platforms as their main source of income.State Struggles to Deploy Billions Through Digital Procurement - Controller of Budget
Kenya’s digital procurement overhaul is slowing development spending, leaving billions unspent as ministries and suppliers navigate the Electronic Government Procurement System (E-GPS)Recovery Gap Widens as Kenyans Take Months to Rebuild After Shocks- Tala Report
New data in a report titled Money March 2026: Financial Resilience, by Tala, Pezesha, CIS and TransUnion shows that recovery from a serious financial setback can take anywhere from less than a month to more than six monthsZenith Bank Targets London Listing to Drive Global Expansion
Zenith Bank Plc is planning a 2027 listing on the London Stock Exchange to expand access to international capital and support its growing cross-border operations. The move follows regulatory recapitalization in Nigeria and aligns with a broader strategy to scale global business, particularly in trade and investment flows.Ethiopia Slashes Current Account Deficit 95% to $289 Mn After FX Reform and Export Surge
Ethiopia’s shift to a market-based exchange rate in July 2024 triggered a major external adjustment. The current account deficit narrowed from $6.2 Bn to $289.3 Mn, while export earnings surged 119.2% and private remittances rose 13%. NBE foreign reserves jumped more than 209%, and the gap between official and parallel exchange rates narrowed to within 15%, shifting foreign exchange activity back into the formal banking system.Ethiopia's Banking Sector Posts Strongest Year on Record With Double-Digit Capital Growth
Ethiopian commercial banking posted its best performance across every major indicator for the fiscal year ended June 2025, per the NBE Financial Stability Report. ▸ Net income: ETB 93.4 Bn (+61.3%), the largest profit in the sector's history ▸ NPL ratio: 3.1%, five-year low. Liquidity: 30.4%, five-year high ▸ Total assets: ETB 4.7 Tn (+44.5%), deposits: ETB 3.5 Tn (+40.7%) ▸ Banking Business Proclamation 1360/2025 opens the sector to foreign lendersOld Mutual Holdings' 2025 Fee Income Surges as Insurance Weakens
Old Mutual Holdings Plc reported a 2.1% increase in net profit to KSh 856 Mn for FY2025, lifted by a 34.4% surge in fee and commission income from asset management growth. The insurance service result swung to a KSh 151 Mn loss as revenue fell 5.2% following the South Sudan exit and medical insurance pullback. Operating costs jumped 49.5% to KSh 3.09 Bn. The general insurance subsidiary posted a 7.2% rise in pretax profit. The group completed its Kenya life entities merger and launched the Thrive digital wellness platform. No dividend was declared.Kenya’s Proposed AI Law Follows EU Risk Framework
At the center of the proposal is the new Commissioner, an independent office appointed through a process involving the Public Service Commission, the president and Parliament.
