Turaco appoints Cedrick Todwell as Chief Commercial Officer, Africa, to oversee commercial strategy, partnerships, and market expansion across Africa.
The microinsurance company, which operates in Kenya, Uganda, Nigeria, Ghana, Zambia, and Tanzania, has reached over eight million people through embedded partnerships with firms including M-KOPA, Safaricom, Absa, Airtel, and Moniepoint.
Turaco entered Pakistan in 2026 and plans to launch in two additional African underwriting markets by year end. The company ranked 29th among Africa’s fastest-growing companies in the FT 2026 ranking and second among Kenyan companies.
The microinsurance company, which operates in Kenya, Uganda, Nigeria, Ghana, Zambia, and Tanzania, has reached over eight million people through embedded partnerships with firms including M-KOPA, Safaricom, Absa, Airtel, and Moniepoint.
Turaco entered Pakistan in 2026 and plans to launch in two additional African underwriting markets by year end. The company ranked 29th among Africa’s fastest-growing companies in the FT 2026 ranking and second among Kenyan companies.
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Dangote’s Kenyan GDR offer targets KSh 39Bn through up to 728.97Mn receipts priced at KSh 53.50 each, with every GDR representing one underlying Dangote Refinery share offered in Nigeria at ₦525.
The minimum application is 2,000 GDRs, or KSh 107,000, with additional subscriptions in multiples of 100.
The offer price reflects the underlying share price, foreign-exchange conversion and GDR expenses.
The GDR operates as a pass-through vehicle, meaning dividends and other corporate actions on the underlying shares flow to Kenyan holders; cash dividends paid in naira or US dollars will be converted into shillings, net of fees and applicable withholding taxes.
The KSh 39Bn size is a target and depends on the final allocation of underlying IPO shares.
The minimum application is 2,000 GDRs, or KSh 107,000, with additional subscriptions in multiples of 100.
The offer price reflects the underlying share price, foreign-exchange conversion and GDR expenses.
The GDR operates as a pass-through vehicle, meaning dividends and other corporate actions on the underlying shares flow to Kenyan holders; cash dividends paid in naira or US dollars will be converted into shillings, net of fees and applicable withholding taxes.
The KSh 39Bn size is a target and depends on the final allocation of underlying IPO shares.
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Kenyan investors can subscribe directly to the Dangote Petroleum Refinery IPO through Ecobank Transactional Incorporated and SBG Securities, which the Nigerian prospectus names as African distribution channels for investors outside Nigeria.
The route allows eligible Kenyan investors to apply for the underlying DPRP shares at the ₦525 IPO price, with applications generally starting from a minimum of 10 shares and thereafter in multiples of 10.
It sits alongside the separate KSh 39Bn NSE GDR structure, under which each KSh 53.50 GDR represents one DPRP share and gives investors access through a locally listed, Kenya-based custody and settlement framework.
The route allows eligible Kenyan investors to apply for the underlying DPRP shares at the ₦525 IPO price, with applications generally starting from a minimum of 10 shares and thereafter in multiples of 10.
It sits alongside the separate KSh 39Bn NSE GDR structure, under which each KSh 53.50 GDR represents one DPRP share and gives investors access through a locally listed, Kenya-based custody and settlement framework.
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The Central Bank of Kenya has held the CBR at 8.75% for a fourth consecutive meeting, saying the current stance remains appropriate to keep inflation expectations anchored and the exchange rate stable.
September inflation rose to 6.8% from 6.6%, while core inflation increased to 4.0% from 3.4%. CBK raised its 2026 GDP growth forecast to 5.0% from 4.9%, with 2027 growth retained at 5.3%.
Private-sector credit growth strengthened to 10.6% in September, while average lending rates stood at 14.4%. The current account deficit is projected at 3.2% of GDP in 2026, with FX reserves at US$14.70Bn, equivalent to 5.9 months of import cover.
CBK said it will continue monitoring global oil prices, second-round inflation effects and wider domestic and global developments, and stands ready to act if necessary.
September inflation rose to 6.8% from 6.6%, while core inflation increased to 4.0% from 3.4%. CBK raised its 2026 GDP growth forecast to 5.0% from 4.9%, with 2027 growth retained at 5.3%.
Private-sector credit growth strengthened to 10.6% in September, while average lending rates stood at 14.4%. The current account deficit is projected at 3.2% of GDP in 2026, with FX reserves at US$14.70Bn, equivalent to 5.9 months of import cover.
CBK said it will continue monitoring global oil prices, second-round inflation effects and wider domestic and global developments, and stands ready to act if necessary.
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The banking sector’s gross non-performing loan ratio fell to 13.9% in September 2026, dropping below 14% for the first time since December 2022.
The ratio improved from 14.8% in June 2026 and 17.6% in August 2025, a decline of 370 basis points from last year’s peak.
CBK said lower NPLs were recorded in the financial services, agriculture, trade, and energy and water sectors, while banks continued to maintain adequate provisions.
The regulator said the banking sector remains stable and resilient, supported by strong liquidity and capital adequacy ratios.
The ratio improved from 14.8% in June 2026 and 17.6% in August 2025, a decline of 370 basis points from last year’s peak.
CBK said lower NPLs were recorded in the financial services, agriculture, trade, and energy and water sectors, while banks continued to maintain adequate provisions.
The regulator said the banking sector remains stable and resilient, supported by strong liquidity and capital adequacy ratios.
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Unajua credit score yako inaweza affect uwezo wako wa kuget business funding or even securing employment opportunities?
This Friday we are stripping away the jargon and giving you actionable steps to check, clean, and build your credit standing.
Date: 9th October 2026
Time: 11:00 AM
Host: Noah Kipkemboi
Expert: Chris Mwangi, COO, CreditInfo
Topic:Understanding Crbs, Credit And Your Financial Future
To be part of the conversation, RSVP here: https://tinyurl.com/e9wxzmpm
This Friday we are stripping away the jargon and giving you actionable steps to check, clean, and build your credit standing.
Date: 9th October 2026
Time: 11:00 AM
Host: Noah Kipkemboi
Expert: Chris Mwangi, COO, CreditInfo
Topic:Understanding Crbs, Credit And Your Financial Future
To be part of the conversation, RSVP here: https://tinyurl.com/e9wxzmpm
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Kenyan fintech Cloud9, founded by former Marketforce Tesh Mbaabu, has raised $500,000 from New York-based accelerator Alliance, taking its disclosed funding to $1 million.
The money will go toward expanding payment corridors, launching virtual and physical cards, and acquiring customers. Cloud9 lets users hold shillings, dollars, euros, pounds and yuan, and settles cross-border payments with stablecoins USDC and USDT, so a Nairobi merchant can pay a supplier in Guangzhou without relying on correspondent banks.
The company says it has opened more than 25,000 accounts since launching, with transaction volumes growing over 15% week over week.
https://kenyanwallstreet.com/cloud9-raises-us-0-5mn-to-expand-cross-border-payments
The money will go toward expanding payment corridors, launching virtual and physical cards, and acquiring customers. Cloud9 lets users hold shillings, dollars, euros, pounds and yuan, and settles cross-border payments with stablecoins USDC and USDT, so a Nairobi merchant can pay a supplier in Guangzhou without relying on correspondent banks.
The company says it has opened more than 25,000 accounts since launching, with transaction volumes growing over 15% week over week.
https://kenyanwallstreet.com/cloud9-raises-us-0-5mn-to-expand-cross-border-payments
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Kenya Airways (KQ) has confirmed government approval of a US$350Mn (KSh 45.15Bn) shareholder loan with a proposed 10-year tenor.
The government may convert the loan into equity, subject to shareholder and regulatory approvals, or agree on early repayment. The financing will cover aircraft maintenance, returning grounded aircraft to service and other urgent operating needs.
KQ also confirmed in-principle approval to convert approximately KSh 122Bn in existing government loans, plus accrued interest, into an equity-qualifying tradable instrument. The restructuring aims to restore positive equity and support a capital raise through an Investment Memorandum.
KQ urged caution when trading its shares until the terms and required approvals are finalised.
The government may convert the loan into equity, subject to shareholder and regulatory approvals, or agree on early repayment. The financing will cover aircraft maintenance, returning grounded aircraft to service and other urgent operating needs.
KQ also confirmed in-principle approval to convert approximately KSh 122Bn in existing government loans, plus accrued interest, into an equity-qualifying tradable instrument. The restructuring aims to restore positive equity and support a capital raise through an Investment Memorandum.
KQ urged caution when trading its shares until the terms and required approvals are finalised.
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Ethiopia's largest private lender, Awash Bank, has launched five Mastercard products targeting individual and corporate customers, expanding access to international payments following foreign exchange reforms.
The portfolio includes World Elite debit, Platinum and Gold prepaid, corporate prepaid and domestic contactless cards, alongside a virtual prepaid option.
Awash said its existing international prepaid cards served over 20,000 customers, processing more than US$55Mn in completed transactions during the last financial year, against US$60Mn authorised.
The bank serves over 17Mn customers through more than 1,010 branches, with 4Mn card users and 5Mn Awash Birr Pro users.
The launch builds on its Mastercard partnership established in 2024.
The portfolio includes World Elite debit, Platinum and Gold prepaid, corporate prepaid and domestic contactless cards, alongside a virtual prepaid option.
Awash said its existing international prepaid cards served over 20,000 customers, processing more than US$55Mn in completed transactions during the last financial year, against US$60Mn authorised.
The bank serves over 17Mn customers through more than 1,010 branches, with 4Mn card users and 5Mn Awash Birr Pro users.
The launch builds on its Mastercard partnership established in 2024.
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Microsoft’s Africa Development Centre in Nairobi is facing closure, raising concerns about the future of Kenya’s technology workforce.
The development comes amid Microsoft’s global restructuring, which has affected its Kenyan engineering operations.
ICT Cabinet Secretary William Kabogo has called for the protection of local jobs, while Microsoft says it remains committed to serving customers in Kenya and across the region.
The development comes amid Microsoft’s global restructuring, which has affected its Kenyan engineering operations.
ICT Cabinet Secretary William Kabogo has called for the protection of local jobs, while Microsoft says it remains committed to serving customers in Kenya and across the region.
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Kenya Power was owed Ksh41.5 billion in unpaid bills by postpaid customers at the end of June 2026, nearly Ksh2.5 billion more than a year earlier, with nearly Ksh8 billion owed by public institutions and Ksh33.56 billion by households and private businesses.
About Ksh20.4 billion has been unpaid for more than three months, pushing the utility's provision for potentially irrecoverable bills to Ksh14.89 billion.
The government also owes a separate Ksh35 billion under the Rural Electrification Scheme, even as Kenya Power posted a net profit of Ksh24.9 billion in the last financial year.
About Ksh20.4 billion has been unpaid for more than three months, pushing the utility's provision for potentially irrecoverable bills to Ksh14.89 billion.
The government also owes a separate Ksh35 billion under the Rural Electrification Scheme, even as Kenya Power posted a net profit of Ksh24.9 billion in the last financial year.
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At the ₦525 IPO price, Dangote Refinery is priced at 7.5x earnings and 3.9x book value. The NSE Banking Index, which the WSA banking ETF would track, trades at 5.5x and 1.1x.
That P/E uses Dangote’s best period, its 9M-2026 profit annualised. On H1 profit, it rises to 13.0x. A year earlier, the refinery was loss-making.
The ETF would give exposure to 12 profitable banks, 11 of which paid dividends, at about book value. Dangote gives one refinery at nearly 4x book.
That P/E uses Dangote’s best period, its 9M-2026 profit annualised. On H1 profit, it rises to 13.0x. A year earlier, the refinery was loss-making.
The ETF would give exposure to 12 profitable banks, 11 of which paid dividends, at about book value. Dangote gives one refinery at nearly 4x book.
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Beneficiation is the process of separating valuable minerals from waste rock to produce a concentrate that can be processed further.
In Kenya’s mining sector, this is an important step towards building a local mineral-processing industry. But beneficiation is not the final stage of processing rare earths.
At Mrima Hill in Kwale County, producing a concentrate would be different from separating and refining individual rare-earth elements into saleable oxides.
Understanding this distinction matters because each stage of processing requires different technology, expertise and investment.
The key question: How far along the mineral value chain can Kenya process its resources locally?
In Kenya’s mining sector, this is an important step towards building a local mineral-processing industry. But beneficiation is not the final stage of processing rare earths.
At Mrima Hill in Kwale County, producing a concentrate would be different from separating and refining individual rare-earth elements into saleable oxides.
Understanding this distinction matters because each stage of processing requires different technology, expertise and investment.
The key question: How far along the mineral value chain can Kenya process its resources locally?
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Kenya’s ambition to grow its mining sector depends not only on the minerals it extracts, but also on how much processing it can establish locally.
The rare-earth and niobium deposits at Mrima Hill in Kwale County present an opportunity to develop industrial capabilities beyond mining and raw mineral exports.
For rare earths, producing a concentrate is only one step. Further chemical processing is needed to separate individual rare-earth elements into saleable oxides. If that final separation happens abroad, the associated refining activity and industrial capabilities will largely develop outside Kenya.
Domestic processing could create opportunities for specialised skills, technical training, engineering and Kenyan suppliers. Realising these benefits will depend on commercially viable operations, investment, reliable infrastructure and responsible environmental management.
The goal should be to build a viable mineral-processing industry that retains more skills and economic activity in Kenya.
The rare-earth and niobium deposits at Mrima Hill in Kwale County present an opportunity to develop industrial capabilities beyond mining and raw mineral exports.
For rare earths, producing a concentrate is only one step. Further chemical processing is needed to separate individual rare-earth elements into saleable oxides. If that final separation happens abroad, the associated refining activity and industrial capabilities will largely develop outside Kenya.
Domestic processing could create opportunities for specialised skills, technical training, engineering and Kenyan suppliers. Realising these benefits will depend on commercially viable operations, investment, reliable infrastructure and responsible environmental management.
The goal should be to build a viable mineral-processing industry that retains more skills and economic activity in Kenya.
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South Africa’s Nedbank Group says it expects to consolidate NCBA Group’s financial results into its accounts from Q4 2026, following its acquisition of a controlling 66% stake in the Kenyan lender.
In a Johannesburg Stock Exchange announcement dated October 19, Nedbank confirmed that its takeover offer became unconditional on October 15, after outstanding regulatory approvals and other conditions were fulfilled or waived.
Nedbank expects the transaction to close around November 3, when the transfer of approximately 1.087 Bn NCBA shares, issuance of new Nedbank shares and cash payments to accepting shareholders will commence. Settlement will take place within 14 trading days from the October 21 Settlement Date.
Nedbank expects to announce the final takeover results on November 5, including the total cash consideration paid and number of new shares issued.
In a Johannesburg Stock Exchange announcement dated October 19, Nedbank confirmed that its takeover offer became unconditional on October 15, after outstanding regulatory approvals and other conditions were fulfilled or waived.
Nedbank expects the transaction to close around November 3, when the transfer of approximately 1.087 Bn NCBA shares, issuance of new Nedbank shares and cash payments to accepting shareholders will commence. Settlement will take place within 14 trading days from the October 21 Settlement Date.
Nedbank expects to announce the final takeover results on November 5, including the total cash consideration paid and number of new shares issued.
President William Ruto says private investors acquired 25% of Kenya Pipeline Company (KPC) from public entities in Monday's KSh 42.5 Bn block trade involving 4.5 Bn shares, equivalent to 24.76% of the company.
Attention now turns to major public shareholders, particularly NSSF (22.2%) and the Unclaimed Financial Assets Authority (UFAA), which held 3.06%. Their combined post-IPO stake of 25.26% was sufficient to cover the transaction.
The Government of Kenya retained 35%, while Uganda National Oil Company held 20.15%. However, Ruto did not identify the selling institutions or private buyers.
No evidence has emerged confirming whether NSSF, UFAA or other public shareholders sold their stakes.
Attention now turns to major public shareholders, particularly NSSF (22.2%) and the Unclaimed Financial Assets Authority (UFAA), which held 3.06%. Their combined post-IPO stake of 25.26% was sufficient to cover the transaction.
The Government of Kenya retained 35%, while Uganda National Oil Company held 20.15%. However, Ruto did not identify the selling institutions or private buyers.
No evidence has emerged confirming whether NSSF, UFAA or other public shareholders sold their stakes.
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