Business
Kenya’s Inflation Rises to 7.3% as Fuel, Food Costs Climb
Kenya’s inflation rose to 7.3% in October 2026 as higher food and energy costs pushed up prices, prompting the Central Bank to maintain its policy rate.
Kenya’s Economic Growth Accelerates to 5.2% in H1 2026
Kenya’s economy grew by 5.2% in the first half of 2026, supported by stronger industry and services despite slower agricultural activity.
KPC Foils Fuel Theft Attempt Through Mombasa Pipeline Tap
Kenya Pipeline Company (KPC) detected an illegal connection on a Mombasa pipeline on November 2, 2026, and reported it to police, with no petroleum lost.
KTDA Appoints James Githinji Mwangi as New Board Chairman
Kenya Tea Development Agency has appointed James Githinji Mwangi as chairman, replacing Enos Njeru, while Samson Mosonik Menjo keeps the vice-chair post.
Changamka Festival Opens at KICC to Promote Local Goods
The 9th Changamka Shopping Festival runs at KICC in Nairobi from November 3 to 7, showcasing locally made goods from Kenyan manufacturers and SMEs.
Kenya Growth Seen at 5.1% in 2027 Despite Fiscal Strain
Treasury forecasts Kenya’s economy will grow 5.0 percent in 2026 and 5.1 percent in 2027, even as debt pressures and weaker revenue strain public finances.
OpenAI Staff Warned of Security Gaps for Years,
OpenAI employees warned leaders for several years about weak internal security practices, sources say, as concerns grew over how new models were tested.
NCBA Shares Resume Trading After Nedbank Takes 66% Stake
NCBA shares resume on the NSE after a block trade moved a 66 percent stake to Nedbank, with the remaining 34 percent still trading publicly on the exchange.
CMA Proposes Sh100,000 REIT Investment Entry Threshold
The CMA is proposing reforms to lower Kenya’s REIT investment entry barrier to Sh100,000, alongside changes to ownership limits and financing rules.
Dangote Refinery Names Betül Sarıkaya New CFO After IPO
Dangote Petroleum Refinery has appointed Turkish finance executive Betül Sarıkaya as CFO following its $1.6 billion IPO.
Kenya plans to revive Turkana-Lamu Oil Pipeline for Dangote
Kenya is reviving plans for Turkana-Lamu crude oil pipeline to supply Dangote’s planned refinery, potentially accelerating local production and regional energy investment.
Survey Finds, 60pc of Kenyans Have No Health Insurance
A new KNBS survey shows 59.7pc of Kenyans lack health insurance or are unsure of their coverage, raising concerns over healthcare affordability and access.
Carrefour Closes Comet House Store After Four Years
Carrefour has closed its Comet House outlet in Nairobi CBD, ending four years of operations as competition intensifies in Kenya’s supermarket industry.
Microsoft Buyouts: 3 Steps Employees Should Take
Microsoft’s buyout offer to about 60,000 employees has prompted questions about job security. Employment lawyer Craig Levey outlines three steps workers should take before deciding.
IFC Plans Sh12.99bn Short-Term Borrowing for Kenya
The International Finance Corporation is planning to borrow up to Sh12.99 billion in the short term to support new investments in Kenya's private sector.
KenGen Risks Losing Sh363m Investment in Stima Society
KenGen is pursuing Stima Investment Co-operative Society over Sh363 million in fixed deposits, with the High Court ordering repayment of the admitted Sh90 million.
DTB Opens Isiolo Branch as Network Targets 100 Outlets
Diamond Trust Bank has opened its 94th branch in Isiolo as it expands banking access in northern Kenya and targets 100 outlets by December 2026.
NCBA Expands PropertyDuka Platform to Nakuru, Naivasha
NCBA is expanding its PropertyDuka digital marketplace to Nakuru and Naivasha as its user base exceeds 625,000, connecting property buyers with developers and financing.
Communications Authority Sends 6 Trucks for Vaccine Delivery
The Communications Authority has launched Post4Health with six refrigerated trucks to improve vaccine and medical supply deliveries to underserved communities.
Kenyan Banks Launch Roadmap to Expand Sustainable Finance
Kenya’s banking industry has launched a Sustainable Finance Roadmap to guide green lending, strengthen climate risk management and support businesses.
NCBA Projects Kenya Growth to Slow to 4.5% in 2027
NCBA forecasts Kenya’s economic growth will slow to 4.5% in 2027 as domestic vulnerabilities and global uncertainty weigh on agriculture, industry and services.
Cyberattack Hits Supermarket Freezers in Nine EU Countries
Supermarket refrigeration systems in nine European countries have been disrupted by suspected cyberattacks, forcing retailers to discard food and investigate security failures.
Apple Unsure of Foldable iPhone Supply Ahead of Christmas
Apple says it cannot predict when more foldable iPhones will reach customers after strong demand exhausted initial stocks ahead of the Christmas shopping season.
North Korea Denies Role in Record $6.3bn Binance Hack
North Korea has rejected US allegations linking it to a record $6.3 billion Binance cryptocurrency theft as the exchange works to restore customer confidence.
KenGen Secures Sh10.5bn for Battery Storage Facilities
KenGen has secured Sh10.5 billion from the World Bank and UN-backed Green Climate Fund to store renewable electricity and strengthen Kenya’s power supply.
Julius Kipng’etich to Retire From Jubilee After 9 Years
Jubilee Holdings CEO Julius Kipng’etich will retire on November 30 after nearly nine years, with Juan Cazcarra appointed to lead the regional insurer.
Kofisi Turns to Catering and Events to Grow Revenue
Kofisi is expanding catering and event services as the workspace provider targets corporate clients, higher occupancy and new revenue streams in Kenya.
Uganda Opens AFCON 2027 Supplier Registration, Kenya Awaits
Uganda has registered 850 suppliers for AFCON 2027, while local Kenyan firms have yet to see a published supplier process amid ongoing federation disputes.
Healthcare Costs Seen Rising 13.5%, Pressuring Premiums
Aon projects Kenyan healthcare costs will rise 13.5 percent this year, adding pressure on insurers to raise medical premiums and employer-sponsored cover.
US Moves to Remove Rwanda and South Africa From AGOA
The United States plans to remove Rwanda and South Africa from AGOA in January 2027, citing trade barriers, corruption, human rights and security concerns.
Kenya sets 15% minimum tax rules for global firms
Kenya has introduced 15% minimum top-up tax rules for large multinational groups, with qualifying companies required to notify KRA by November 17, 2026.
Shilling Holds Near 130 to Dollar as Euro Slips
The Central Bank of Kenya’s reference rates put the shilling at 129.97 to the US dollar on November 3, 2026, with the euro at 145.82 and the pound at 174.45.
Longhorn Records Sh949.6 Million Loss on Curriculum Change
Longhorn Publishers posted a record Sh949.6 million loss for the year to June 2026 after a Sh518 million impairment on books made obsolete by curriculum changes.
CBK Differs With Mbadi on Sh10 Billion Capital Rule
The Central Bank of Kenya says banks must stick to the Sh10 billion capital timeline despite Treasury’s plan to extend it to 2032, warning of downgrades.
Govt Urged to Cut Spending by Merging Duplicate Agencies
TISA urges the government to merge state agencies with overlapping roles, such as those in roads management, to cut administrative costs and public debt.
TISA Calls for Stronger Parliament Oversight of Debt
TISA says Parliament has failed in public debt oversight in Kenya, urging MPs to turn Auditor-General reports into action and question how borrowed funds are spent.
Food Processors Expand Fortification to 32 Companies
Kenya’s 2026 Millers Fortification Index now covers 32 companies and 144 brands, up from five companies in 2022, as processors tighten food standards.
Safaricom Extends Family Share to Kisumu Home Fibre
Safaricom has extended its Family Share plan to Home Fibre customers in Kisumu, letting households share mobile data or voice minutes with up to five members.
NSE Adds Family Bank to its Banking Index
The NSE has added Family Bank to its Banking Index, which now tracks 12 listed banks, with changes effective on November 2, 2026, and a revised bond index.
Quickmart Targets Sh4.5bn Dividends Over Two Years
Quickmart expects to distribute Sh4.5 billion in dividends across FY2026 and FY2027 while financing store expansion through internally generated cash flows.
Supreme Court to Hear Sh17.3bn Narok Investor Appeal
The Supreme Court has admitted the Attorney-General's appeal against a Sh17.3 billion compensation award to Nguruman Limited over a decades-old land invasion in Narok.
Kenya Industrialisation Summit Targets Local Production
Kenya's Industrialisation Summit brings manufacturers and investors to Nairobi to explore local production, value addition and investment opportunities from November 4–5.
Fake Alcohol Cuts Sh7.6bn From KRA Sin Tax Revenue
Fake alcohol has contributed to a Sh7.6 billion decline in KRA domestic excise revenue as counterfeit spirits undermine tax collections and Kenya's legitimate drinks market.
ABC Group Enters Kenya With 18th Regional Showroom
ABC Group has entered Kenya with ABC Hauz, its 18th East African showroom, as it targets demand for building materials amid a construction sector recovery.
Kenya Railways Launches New SGR Car Freight Service
Kenya Railways and Autobarn East Africa have launched an SGR car freight service between Mombasa and Nairobi, targeting 700 vehicles monthly.
Binance Halts Withdrawals After $6.3 Billion Crypto Hack
Binance paused withdrawals after a hack it estimates at $6.3 billion, with roughly $3 billion frozen and all user losses to be covered by the exchange.
Shilling Starts November Steady at Sh129.94
The Kenyan shilling traded at Sh129.94 to the US dollar on Monday, November 2, 2026, according to the Central Bank of Kenya’s (CBK) daily exchange rates, opening the new month little changed and holding just below the Sh130 mark.
Africa Energy Bank Opens in Abuja With $5bn Capital
Afreximbank and the African Petroleum Producers’ Organisation (APPO) have formally established the Africa Energy Bank (AEB) in Abuja, Nigeria, with $5 billion in authorised capital, as they try to close a financing gap that they estimate at $200 billion for Africa’s energy sector.
Apple Retakes Crown From Nvidia at $5.03tn
Apple reclaimed the title of the world’s most valuable company on Friday, October 30, 2026, taking the mantle from Nvidia as investors sought the perceived safety of the iPhone maker amid concerns about spending on artificial intelligence (AI).
More than 100+ Dockworkers strike at Ports Over Arms and Pay
Dockworkers in more than 100 ports in Europe and beyond staged strikes and protests on Friday, October 30, 2026, in an international campaign against arms shipments through civilian ports and for better pay and working conditions, according to unions and the International Transport Workers’ Federation (ITF).
CBK Bulletin: Reserves Rise, Eurobond Yields Fall
The shilling stayed stable and foreign exchange reserves edged higher in the week ending October 29, the Central Bank of Kenya (CBK) said in its weekly bulletin released on Friday, October 30, while trading at the Nairobi Securities Exchange (NSE) dropped sharply after the previous week’s block trade.
DEWA Signs Shanghai Electric Deal for Global Projects
Dubai utility DEWA’s international arm signed an MoU with Shanghai Electric to explore energy and water projects worldwide, from solar to desalination.
Big Tech Returns Least Cash to Shareholders in 15 Years
Big Tech firms are returning their smallest share of cash to shareholders in 15 years as they stockpile capital for AI data centres and energy partnerships.
OpenAI Raise Stalls Below Half of $30 Billion Target
OpenAI’s capital raise has reportedly slowed, tracking below half of its $30 billion target as Wall Street tightens criteria for AI infrastructure spending.
EU Adds €2 Fee on Non-EU Parcels From Temu and AliExpress
The European Union has reintroduced a flat €2 handling fee per item on non-EU shipments, targeting popular overseas marketplaces like Temu and AliExpress.
Ruto Targets $40 Billion Russian Infrastructure Investment
President Ruto says Kenya aims to anchor $40 billion over ten years in infrastructure and is inviting Russian firms to build manufacturing hubs in the country.
Kenya Airways Goes Fully Digital With In-Flight Duty-Free
Kenya Airways has replaced physical in-flight duty-free sales with a digital platform run with Safari Duty Free, allowing pre-orders up to 40 days in advance.
Mini-Budget Plans Kenya Airways Bailout and MSME Relief
Treasury CS John Mbadi plans a supplementary budget with emergency support for Kenya Airways and faster payment of state pending bills under KSh 50 million.
KRA Eyes Pending Bills to Close KSh 132.1 Billion Gap
KRA is weighing a plan to seize outstanding taxes directly from government pending bills owed to businesses, as it faces a KSh 132.1 billion revenue shortfall
Kenya Inflation Hits 7.3%, a Three-Year High
Kenya’s annual inflation rate rose to 7.3 percent in October 2026 from 6.8 percent in September, its highest level since July 2023, as higher fuel, food and transport costs squeezed households, the Kenya National Bureau of Statistics (KNBS) said in its Consumer Price Index report released on Friday, October 30.