I&M Bank Opens KSh 10Bn Note Offer at 12.20% as Corporate Debt Market Heats Up
I&M Bank has launched a KSh 10 billion fixed-rate note offer at 12.20% p.a. under a KSh 20 billion MTN programme, with a KSh 3 billion greenshoe. The 5.5-year notes list on the NSE on 21 May 2026. The offer arrives as falling CBK rates drive a wave of corporate debt issuances in Kenya.
Billions Remain Held in Unclaimed Assets as Claims Decline
The total value of unclaimed financial assets held in Kenya has reached a record high, even as the number of individuals successfully claiming their funds has seen a notable decline.
Equity Group Eyes Angola, Zambia, Mozambique Acquisitions in Southern Africa Push
Equity Group Holdings is pursuing bank acquisitions in Angola, Zambia, and Mozambique, CEO James Mwangi told Reuters. The move follows record FY2025 profit of KSh75.50 billion and is anchored to the Lobito Corridor trade route. Equity targets 15 African countries by 2030, up from seven todayKMRC Floats KSh 3bn Bond to Refinance Home Loans
KMRC has launched a KES 3bn sustainability bond offer open until May 12, 2026. The eight-year note is Tranche 2 of its KES 10.5bn MTN programme. Proceeds target green and social home loan refinancing. NSE listing is scheduled for May 25, 2026.Dubai's Soren Investment Acquires Gulf African Bank
Soren (UAE) and Auron (Kenya) acquire 57.72% of Gulf African Bank, buying out Al Salam Bank, Istithmar World, and IFC. Soren, with stakes in Sudan and Tanzania, is now the dominant shareholder.Ethiopia's Biggest Private Bank Makes Its Stock Market Debut on the ESX
Awash Bank S.C. has listed on the Ethiopian Securities Exchange Main Market under ticker AWAB, becoming the third company and first major private commercial bank on the bourse. The listing by introduction covers 37,896,928 shares out of 54,066,089 registered with ECMA. Awash reported gross profit of ETB 25.67 billion for FY2025, a 137% surge, with total assets of ETB 442.6 billion and deposits exceeding ETB 358 billion. The listing comes as the ESX targets nine listings before the end of the Ethiopian fiscal year on 7 July 2026.M-Pesa, Airtel Money Agents Cross 500,000 Mark, But Transaction Volumes are Falling
Kenya's mobile money agent network crossed 500,000 for the first time in February 2026, reaching 507,383 active agents per CBK data, up 28.5% year-on-year. The milestone comes as transaction values through agents fell roughly 6.4% in 2025, with rising smartphone penetration and interoperability improvements reducing cash-in and cash-out demand. Registered accounts stand at 91.32 million with penetration at 98%.Treasury Bets on Nature Capital as Kenya Launches Biodiversity Finance Plan
The BIOFIN initiative, implemented in partnership with the United Nations Development Programme (UNDP), is expected to deliver Kenya’s first comprehensive Biodiversity Finance PlanCo-op Bank Plans to Reorganise its Corporate Structure
Co-operative Bank of Kenya plans to restructure into a Non-Operating Holding Company, renaming its listed entity Co-opbank Group PLC and creating a new banking subsidiary. The move follows KCB, Equity, NCBA, I&M and Stanbic. The bank controls seven subsidiaries across Kenya and South Sudan and targets assets above KSh 1 trillion by 2029Kenya's Public Debt Hits KSh 12.4 Trillion as State Scales Domestic Borrowing
Kenya's total public debt reached KSh 12.40 trillion by end-January 2026, rising KSh 1.41 trillion (+12.9%) year-on-year, with the debt-to-GDP ratio at 67.6%. Domestic debt drove 80.6% of FY2025/26 accumulation, rising 16.2% to KSh 6.89 trillion, while external debt rose 8.9% to KSh 5.51 trillion largely on valuation effects. The IMF projects the ratio rising to 72.4% of GDP by 2027, against a statutory 55% anchor due by 2028.Kenya's Diaspora Sent Home Record KSh 58Bn in March Despite Middle East Unrest
Kenyan diaspora remittances reached an all-time high of US$ 450.30Mn (KSh 58.12Bn) in March 2026, up 6.5% year-on-year, surpassing the previous record of US$ 445.39Mn set in December 2024. Q1 2026 cumulative inflows stood at US$ 1,274.35Mn (KSh 164.53Bn), up 3.4% from Q1 2025. The US remains the dominant corridor at 50.4% of flows. Saudi Arabia flows fell 12.9% year-on-year in February while UAE jumped 24.4%. CBK has revised its 2026 full-year forecast down to US$ 5.1Bn, citing Gulf risks from the Iran conflict.Kenya Moves to Unify Financial Consumer Protections
The Central Bank of Kenya, leading a seven-regulator Technical Working Group, has published a draft Financial Consumer Protection Framework for public comment. The framework establishes standards across six principles: fair treatment, transparency, product suitability, asset protection, accessible complaints handling, and data privacy. It covers banking, insurance, capital markets, pensions, SACCOs, and telecoms-based financial services.
