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%.
Kenya Re's Underwriting Engine Stalls, Investment Income Carries the Load
Kenya Reinsurance Corporation (NSE: KNRE) reported a KSh 3.92 billion profit after tax for the year ended 31 December 2025, an 11.6% decline from KSh 4.44 billion in 2024. The insurance service result collapsed 96.3% to KSh 108 million as net reinsurance contract expenses nearly doubled to KSh 1.35 billion. Net investment income surged 41.4% to KSh 6.60 billion, largely on a foreign exchange swing of KSh 1.44 billion. Operating cash flow fell 80.2% to KSh 876 million. A final dividend of KSh 0.15 per share was declared.Nairobi Securities Exchange Posts Record 2025 Performance, Moves to Extend Trading Hours
Total revenue crossed the KSh 1 billion mark for the first time, growing 31% year-on-year, supported by strong performance across both the equities and fixed income markets.
NSE Banking Index Posts Worst Day Since Launch as Four-Day Rout Wipes KSh 215Bn
The Nairobi Securities Exchange lost KSh 64.34Bn on Thursday March 26, extending a four-day selloff that has erased KSh 215.58Bn in market value, the third worst week since 2008. The Banking Index fell 3.91%, its worst session since launching in October 2025, with six of eleven banks dropping more than 4%. KCB traded 8.95 million shares worth an estimated KSh 595M. The selloff is being driven by the Iran war and Strait of Hormuz disruption, with Brent crude above $106 and Kenya facing a fuel price shock at the April 15 EPRA review. Market cap fell to KSh 3,257Bn. YTD gains have narrowed from 12.24% to 5.27%.NCBA Posts Record KSh 23.4Bn profit as Nedbank Takeover Looms
NCBA Group PLC posted a record post-merger profit after tax of KSh 23.39 Bn for the full year ended 31 December 2025, up 7.0%, driven by a 27.7% surge in net interest income to KSh 44.08 Bn as funding costs collapsed. Total dividend rose 29.1% to KSh 7.10 per share, the highest since the 2019 CBA-NIC merger. Nedbank of South Africa has tabled a $855 million bid for 66% of NCBA, valued at 1.4 times book. CMA waiver secured February 2026. CBK approval expected Q3 2026, with deal closure targeted late 2026.Toyota Land Cruiser LC300 Recall Hits COMESA Markets
The COMESA Competition and Consumer Commission has issued an urgent regional alert following a significant safety recall of Toyota Land Cruiser LC300 models.
The Rapid Growth of Equity Group’s Insurance Arm
Equity Group’s expansion into insurance is accelerating just as financial pressures reshape how Kenyan households manage risk, positioning the business as a key growth engineI&M Group's Profit Rises 28% on Income Growth
I&M Group reported a 27.6% rise in FY2025 net profit to KSh 18.8 billion, driven by strong income growth and lower funding costs.Prime Bank's Profits Jump 28% to KSh 5.56 Bn as Falling Funding Costs Drive Widest Margin in 33 Years
Prime Bank Group, Kenya's largest Tier II lender and tenth biggest bank by market share, posted a 27.6% rise in net profit to KSh 5.56 billion for the year ended December 2025. Net interest income surged 49.1% to KSh 9.93 billion as interest expense fell 11.6% during the CBK's easing cycle. Total assets expanded 44.6% to KSh 277.25 billion, concentrated in government securities, while net loans held flat at KSh 55.56 billion. Gross NPLs improved 7.4% to KSh 5.59 billion. EPS rose 27.6% to KSh 836.Grounded Dreamliners and Fx Reversal Push Kenya Airways to 17.2 Bn Loss
Kenya Airways reported a net loss of 17.2 Bn for the full year ended 31 December 2025, reversing the 5.4 Bn profit that had marked its only profitable year in the past thirteen. Revenue fell 14.3% to 161.5 Bn after the grounding of three Boeing 787-8 Dreamliners due to GE Aerospace engine supply chain constraints cut capacity by 18% and passengers by 12.9% to 4.55 million. Negative equity deepened to 132.1 Bn. The government is seeking a strategic investor willing to inject up to $2 Bn, with four parties in active talks. Load factors have surged to near 100% in early 2026 as Middle East conflict reroutes traffic through Nairobi.Equity Group Shifts Expansion Plans to Angola as Ethiopia Entry Delays Persist
Equity Group is prioritizing expansion into Angola through a planned acquisition in Luanda, as regulatory and licensing delays continue to slow its long-standing efforts to enter Ethiopia.CBK Pairs KSh 40Bn Bond Reopening With Another Switch Auction in April Programme
The Central Bank of Kenya has launched a KSh 60Bn borrowing programme for April, combining a KSh 40Bn bond reopening with a KSh 20Bn switch auction. The reopening covers FXD1/2020/015 (8.9 years to maturity, 12.756% coupon) and FXD1/2018/025 (17.3 years, 13.400% coupon), with the auction on 1 April. The switch targets holders of FXD1/2016/010, maturing August 2026, offering an exchange into FXD1/2018/015 due May 2033. It is the fifth bond switch in Kenya's history and the third in 2026. Net borrowing through reopenings has reached KSh 687.50Bn across 13 auctions since July 2025.
