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Nigerian Banking Group Zenith Bank Inches Closer to Acquiring Paramount Bank
Zenith Bank has secured Competition Authority of Kenya approval to acquire 100% of Paramount Bank, removing the competition hurdle to its entry into Kenya. CAK found the deal would not alter market concentration, noting Paramount’s small market share and Zenith’s lack of prior Kenyan operations. The approval is subject to staff retention conditions, with Central Bank of Kenya clearance now the final step.
Kenya's Headline Growth Is Not Shielding Households from Economic Pains-IPF
Kenya should move beyond headline GDP growth and macroeconomic stability and refocus fiscal policy on outcomes that improve citizens’ lives, cushion households from shocks and protect hard-won social gains
Cash in Circulation Rises to KSh 357Bn as Bank Withdrawals Outpace Deposits
Kenya’s currency in circulation rose 7.0 percent to KSh 357.02 billion in the year to June 2025, up KSh 23.2 billion, after net withdrawals from the Central Bank of Kenya reached KSh 23.23 billion. Banknotes grew 7.1 percent to KSh 345.64 billion, while coins rose 3.2 percent to KSh 11.38 billion. Currency inflows fell 7.8 percent to KSh 476.32 billion and outflows declined 6.6 percent to KSh 499.56 billion, indicating slower cash recycling.
KenGen Seeks Shareholder Approval for Board and Governance Reforms
Kenya Electricity Generating Company has called a February 12 extraordinary general meeting to seek shareholder approval for governance reforms covering board composition, director tenure, and appointment rules. The proposals amend the Articles of Association, allow virtual voting, and aim to clarify state and minority shareholder roles. The move follows a similar notice by Kenya Reinsurance Corporation, signalling a broader push to reset governance at listed state-owned firms.
German Firm Acquires Kenyan Tycoon's Logistics Company for KSh 5.2bn
Court Blocks Hashi Energy’s Evidence in KSh7.2bn Tax Fight
The High Court has rejected a last-minute attempt by Hashi Energy, now under liquidation, to introduce fresh evidence in a KSh 7.18 billion tax appeal
Billionaires Have Tightened Grip on Global Media – Oxfam
Kariuki Ngari Set to Retire as StanChart CEO, Birju Sanghrajka to Take Over
Standard Chartered Bank Kenya has appointed Birju Sanghrajka as Managing Director and Chief Executive Officer, subject to approvals, ahead of the retirement of Kariuki Ngari in April 2026. Ngari exits after a 24-year career at the group, having led the Kenyan unit since 2019 and also held an Africa regional chief executive role. During his tenure, profit more than doubled, dividends rose sharply, and the bank shifted toward higher-quality earnings and digital-led growth at Standard Chartered Bank Kenya Limited.
South Africa's Nedbank Moves to Acquire Majority Stake in NCBA
Nedbank has moved to acquire a 66% controlling stake in NCBA through a partial tender offer, securing binding commitments covering 71.2% of the bank’s shares. The deal values NCBA at about 1.4x book value and combines 80% Nedbank shares with 20% cash, while keeping 34% of NCBA listed on the Nairobi Securities Exchange. The transaction is subject to regulatory approvals and is expected to close within six to nine months.
Regulatory Uncertainty is Weighing on East Africa's Banks
Banks across East Africa are growing increasingly uneasy about policy and regulatory uncertainty, with more than two-thirds warning that unpredictable rule changes are becoming a material risk
Kenyan Hospital Performs First Robotic Knee Replacements in the Region
Metropolitan Hospital in Nairobi has completed the first robotic-assisted knee replacement surgeries in East and Central Africa, performing the procedures in December last year,