Life insurance uptake in Kenya remains critically low owing to several issues including awareness and negative perception on insurance among the public. However, industry players are banking on customer education to stir up the sector. Speaking in an exclusive interview with JEDCA MediaSanlamAllianz Life Insurance Chief Executive Officer Jacqueline Karasha said many Kenyans still do not fully understand the importance of life insurance despite the risks families face every day. She noted that life insurance penetration remains at around one percent due to lack of awareness among Kenyans. Karasha said the biggest challenge for insurers is bridging the gap between available products and public understanding, adding that educating customers will unlock a huge untapped market.

Shelter Afrique Development Bank (ShafDB) has named Lionel Zinsou as Chairman of the Board and Said Athman Mtwana as Vice Chairman. The appointments were made during the Bank’s 149th Board meeting on 11 December. Zinsou, former Prime Minister of Benin and a seasoned economist, brings decades of experience in global finance, investment banking, and public policy. “I am honoured to lead ShafDB at this pivotal moment. Africa’s need for affordable housing and vibrant cities is urgent. Together with the Board, we will steer the Bank to strengthen communities and unlock economic opportunities,” he said.

Africa Logistics Properties Holdings Limited (ALP) has received approval from the Capital Markets Authority (CMA) to establish a US dollar denominated Industrial Real Estate Investment Trust (REIT) and offer units to investors through a restricted offer. The ALP Industrial REIT will be structured as an Income REIT and will be required to distribute at least 80 percent of its distributable income to investors. It will become the first dollar-based REIT to list on the Nairobi Securities Exchange and the first industrial REIT in East Africa. The REIT has also been admitted to the Nairobi Securities Exchange Sustainable Finance Centre of Excellence, a programme supported by FSD Kenya to promote green and sustainable capital market issuances.

In 2023 I was seated with the editor in the newsroom at People Daily Newspaper and we struck a conversation about a website that gives instant answers to questions. That website was ChatGPT. At the time I was just a reporter and the editor asked me to investigate this “mythical” technology called artificial intelligence and write an article for our technology column. At the back of my mind I felt the research would not lead to anything serious. I could not fully understand how such a tool could change our lives or affect the internet in a meaningful way.

Telecom giant Safaricom PLC has secured a $138 million (approximately Sh17.8 billion) financing deal to accelerate its expansion in Ethiopia which is one of Africa’s fastest-growing and most strategic telecommunications markets. The milestone financing is expected to fast-track roll-out of digital infrastructure and services, deepen mobile connectivity across Ethiopia and boost inclusion in the region’s second-largest economy. What Funding Did Safaricom Secure and Who Provided It? Standard Bank acted as the sole arranger, lender, facility agent and advisor on the deal, committing $138 million to Safaricom Telecommunications Ethiopia PLC (STEP).

The Kenya Revenue Authority (KRA) has integrated its Integrated Customs Management System (iCMS) with the iTax platform in a move aimed at improving efficiency in customs processing and accelerating tax refunds for businesses. The integration allows data from imports and exports to flow automatically between the two systems, eliminating duplication and reducing manual verification that has historically slowed down clearance and refund approvals. KRA says the system linkage will make it easier to validate customs declarations against tax records in real time, enabling faster resolution of discrepancies and quicker processing of legitimate refund claims.

Safaricom Plc has successfully raised Sh20.0 billion from the first tranche of its inaugural corporate bond offering after the notes were oversubscribed by 177 percent. The teleco had initially targeted Sh15.0 billion under the first tranche of its Sh40 billion Medium-Term Note (MTN) programme, but strong demand drove total bids to Sh41.6 billion, prompting the company to exercise a Sh5.0 billion “greenshoe” option to accommodate excess demand. Issued as a five-year fixed-rate green bond, the notes carry an annual interest rate of 10.4 percent, with maturities due in December 2030. The bonds are scheduled to list on the Nairobi Securities Exchange (NSE) on 16 December 2025.

The Democratic Republic of Congo’s franc has surged to become Africa’s best-performing currency this year, buoyed by rising foreign-currency reserves, tight monetary policy, and a global copper rally that continues to reshape the country’s economic outlook. A jump in the DRC’s foreign-currency holdings and recent policy adjustments by the central bank have powered an almost twenty-nine percent appreciation of the franc against the dollar placing it level with Ghana’s cedi, which had dominated much of the year, according to Bloomberg data. President Félix Tshisekedi said in his state-of-the-nation address on Monday that Congo’s foreign-currency reserves have risen by twenty-one percent over the past year to reach seven-point-four billion dollars.

Kenya’s electricity consumption has hit a new peak, rising to 2,439.06 MW on December 4, 2025, driven by surging industrial activity and increased customer connections across the country. The new milestone surpasses the previous peak of 2,418.77 MW, recorded on November 18, 2025, signalling the fastest growth in national electricity demand in recent years as both commercial and domestic uptake continues to rise. Kenya Power attributes the surge to ongoing investments in the stabilization of the national grid and major infrastructure upgrades. According to the utility, timely completion of network reinforcement projects has improved supply reliability, enabling consumers to draw more power consistently.

Kenya’s lending environment is entering a new phase following the Central Bank of Kenya’s rollout of a revised loan pricing framework. The new system changes how banks calculate interest rates, how borrowers are assessed, and how the total cost of credit is disclosed. Yhe changes are technical, but their effects will be felt across households, businesses, and the banking sector. The new framework is meant to standardize how banks arrive at interest rates by breaking down the pricing into clear components. While banks have long applied risk-based pricing, the new rules require them to justify the elements that make up a loan’s final rate and show how each part is calculated.

Kenya Power has officially stopped accepting manual electricity connection applications as it transitions fully to a digital system designed to accelerate service delivery, boost transparency, and enhance customer experience. Under the new directive, all individuals and businesses seeking new electricity connections must apply exclusively through the company’s online portal at accessible via both computers and mobile phones. According to Kenya Power, the digital shift aims to drastically cut processing times and eliminate inefficiencies associated with manual applications submitted at customer service centers and banking halls. However, beneficiaries of the Last Mile Connectivity Project will still be assisted by on-site Kenya Power officials during project implementation.Kenya Power Managing Director and CEO, Eng.

The Government of Kenya has signed a major addendum to the Production Sharing Contract (PSC) governing oil exploration and production in Block T7 formerly Block 13T marking one of the most significant updates to the country’s petroleum framework in recent years. The addendum, signed in November 2025, brings Gulf Energy E&P B.V. onboard as the full-interest contractor after a complex series of ownership transfers spanning over a decade. The revised contract aligns the PSC with Kenya’s reconstituted petroleum block map, updated fiscal terms, and the regulatory changes introduced under the Petroleum Act (Cap.

President William Samoei Ruto on November 28, 2025, launched the Nairobi–Nakuru–Mau Summit Road (A8) and the Nairobi–Mai Mahiu–Naivasha Project, hailing the initiative as the “dawn of a new era” for Kenya. The project, valued at over Sh170 billion, is being celebrated as debt-free and is set to become one of the country’s largest modern infrastructure undertakings. Ruto said the project marks the foundation of “a Kenya reborn,” driven by ambition, innovation and determination. He noted that the two highways will be delivered under a world-class Public-Private Partnership (PPP) model that positions Kenya as a leader in modern, sustainable financing.

Three of Kenya’s largest lenders Co-operative Bank, Equity Bank, and Standard Chartered have issued public notices announcing their transition to the Central Bank of Kenya’s (CBK) revised Risk-Based Credit Pricing Model. The shift, which begins on 1 December 2025, will change how variable-rate Kenya Shilling loans are priced, with all existing facilities expected to transition by 28 February 2026. Co-operative Bank said it will adopt the Kenya Shilling Overnight Interbank Average (KESONIA) as its lending reference rate for all new variable-rate credit facilities. “The lending reference rate will be the Kenya Shilling Overnight Interbank Average (KESONIA) as publicly published by Central Bank of Kenya,” the bank stated, adding that it will publish applicable KESONIA rates monthly.

Standard Chartered has awarded Sh9.1 million in seed funding to seven women-led enterprises during the graduation of the eighth Women in Tech accelerator cohort run in partnership with Strathmore University’s @iBizAfrica. The programme aims to support women founders building technology-driven businesses with potential for scale. Participants receive training, advisory support and funding designed to strengthen operational capacity and long-term resilience. Standard Chartered Bank Board Director Nivi Sharma said the graduating founders represent determination and innovation. She added that the bank continues to invest in women entrepreneurs because strong female leadership drives inclusive and sustainable growth.

Proparco has completed an investment in BasiGo, a Nairobi-based e-mobility start-up spearheading the transition to electric public transport in Kenya and Rwanda. The funding is expected to accelerate the rollout of electric buses and support the company’s expansion across the region. BasiGo is emerging as a leader in electric bus mobility in Africa, with more than 100 electric buses already deployed in Kenya and Rwanda. The company locally assembles its buses, builds and operates charging infrastructure, and partners with public transport operators to offer a cost-effective alternative to diesel buses.

FSD Africa has announced a new $25–30 million Inclusive Insurtech Investment Fund (3iF), unveiled during the BimaLab Africa Insurtech Summit held on 26–27 November in Nairobi. The pan-African venture capital fund will target early-stage insurtech startups advancing insurance access, affordability and innovation especially in climate resilience, health, and financial inclusion for underserved populations. The Fund builds on the BimaLab Accelerator Programme, which has already supported over 135 startups across 28 countries, and aims to close critical financing gaps that prevent promising solutions from scaling. Expected to launch in January 2026, 3iF will operate under a blended structure that combines junior equity from catalytic investors led by FSD Africa Investments (FSDAi) with senior equity from commercial and strategic investors led by Zep Re.

NCBA Group PLC has announced the appointment of veteran business executive Muhoho Kenyatta as a Non-Executive Director, effective 1st December 2025, strengthening the lender’s board. In a public notice issued by Group Managing Director John Gachora, the board said it was “pleased to announce the appointment of Mr. Muhoho Kenyatta as a Non-Executive Director.” According to NCBA,Kenyatta brings over 35 years of experience in corporate leadership across East Africa, spanning manufacturing, healthcare, insurance, and banking. He has served on several high-level boards, including the Kenya Association of Manufacturers, Kenya Private Sector Alliance, Kenya Dairy Board, and the Kenya Shippers Council.

Sanlam Kenya has officially rebranded to SanlamAllianz Kenya as the listed financial services firm positions itself for accelerated growth and a top-three ranking in Kenya’s insurance industry. The name change to Sanlam Allianz Holdings (Kenya) PLC, now trading as SanlamAllianz Kenya, follows the recent joint venture between South Africa’s Sanlam and global insurer Allianz creating Africa’s largest non-banking financial services provider with a combined 200 years of operational experience across the continent. Confirming the rebrand, SanlamAllianz Kenya Group CEO Dr Nyamemba Patrick Tumbo said the transition marks a renewed commitment to offering high-quality, technology-driven insurance solutions tailored to local needs.

Kalahari Cement has signed a Sh 1.6 billion share purchase agreement (SPA) to acquire a further 27 equity stake in the East African Portland Cement Plc (EAPC) from the National Social Security Fund (NSSF). In a public notice, the company confirmed it would acquire 24.3 million ordinary shares at Sh 66 per share, subject to regulatory approvals. The latest transaction gives Kalahari Cement effective control of EAPC, although the company emphasized it does not intend to launch a takeover bid for the remaining shares. Kalahari Cement is a subsidiary of the pan-African manufacturing conglomerate Amsons Group, which recently acquired a 29.2 percent stake in EAPC from Associated International Cement Limited (AIC) and Cementia Holding AG.

The Kenya Revenue Authority (KRA) has issued a fresh reminder to all petroleum product retailers to fully implement the Electronic Tax Invoice Management System (eTIMS) for fuel stations ahead of the December 31, 2025 enforcement deadline. In a public notice dated November 25, 2025, the tax agency emphasized that all fuel outlets were required to comply with the mandate by June 30, 2025, but some retailers have yet to adopt the system. KRA said the eTIMS Fuel Station System provides a tailored solution for the fuel sector, offering seamless, real-time invoicing for every transaction.

Absa Bank Kenya has announced plans to transition all its loan products to a new Central Bank–mandated Risk-Based Credit Pricing Model (RBCPM), beginning December 1, 2025. The move aligns the lender with guidelines issued by the Central Bank of Kenya (CBK) aimed at standardizing how banks price credit according to customer risk profiles. Under the new framework, all new local-currency variable-rate loans issued from December 1, 2025, will be priced using a formula that incorporates a common reference rate and a customer-specific premium. Absa said the reference rate will be the Central Bank Rate (CBR), as determined by the CBK’s Monetary Policy Committee, while the premium will vary depending on factors such as the borrower’s risk profile.

Paramount Bank has crossed the Central Bank of Kenya’s (CBK) minimum core capital requirement of Sh3 billion, achieving a major regulatory milestone more than a month before the December 2025 deadline. The lender disclosed that its core capital reached Sh3.118 billion as of September 2025, a significant boost driven by a successful rights issue that raised Sh332 million from existing shareholders. With the enhanced capital position, the bank says it is now better placed to scale up its lending portfolio, accelerate digital transformation, and strengthen customer-focused solutions across retail, SME, and corporate banking.

The government of Kenya approved the South Lokichar Basin Field Development Plan (FDP), the first petroleum project in the country to advance from exploration to full development and commercial production. President William Ruto, who signed instruments for the plan’s submission to Parliament for ratification, termed the approval a historic moment that signals Kenya’s shift toward a modern, competitive, first-world economy anchored on diversified revenue streams. The FDP submitted to the Energy and Petroleum Regulatory Authority (EPRA) by Gulf Energy E&P BV (GE), a Kenyan-owned investor licensed to develop Blocks T6 and T7 in the Tertiary Rift Basin outlines how six major oil discoveries will be fully developed over a 25-year horizon.

Kenya’s fiscal space is tightening rapidly as high public debt and weak revenue collection push the country toward a critical economic turning point, the World Bank warns in its latest assessment. The findings are published in the Bank’s Country Focus Report, released Monday in Nairobi as part of the 32nd Kenya Economic Update. According to the report, Kenya’s public debt has surged to Sh12 trillion, equivalent to 68.7 percent of GDP, highlighting ongoing macroeconomic vulnerabilities that continue to strain government finances. The World Bank notes that a rise in the primary deficit added 1.3 percentage points to the growth in total public debt, with domestic borrowing once again dominating, reversing earlier trends.