Safaricom Becomes East and Central Africa’s Most Profitable Company
Safaricom made headlines this week when it officially became the most profitable company in East and Central Africa, following the release of the FY’2026 financial results. Group Net Income rose to Ksh 95.6 billion, driven by continued customer growth, increased adoption of digital services, and solid performance across core product lines.
Building on its record performance, Safaricom announced a dividend payout of Ksh 2.00 per share, totalling Ksh 80.1 billion, representing a 66.7% increase from the previous year. This comprises an interim dividend of Ksh 0. 85 per share, and a recommended final dividend of Ksh 1.15 cents per share, subject to shareholder approval, underscoring the company’s resilient balance sheet and confidence in its long term growth outlook.
Also read: Safaricom FY2026: Historic Ksh 95.6 Billion Profit Marks Another Record Year
Stanbic Bank Kenya Posts Q1 2026 Profit Growth
Stanbic Bank Kenya also released its Q1’2026 financial results this week, posting a 5.5% growth in Profit After Tax to Ksh 3.5 billion. The performance was supported by strong balance sheet growth, with customer deposits rising 21.7% to Ksh 411 billion and total assets increasing 22.6% to Ksh 551.7 billion.
During the quarter, Net Interest Income grew by 11.7% to Ksh 7.6 billion, while the Cost to Income Ratio improved to 47%, reflecting continued operational efficiency despite a softer Non-Interest Income performance.
Kenya’s Private Sector Remains Under Pressure Despite PMI Improvement
Kenya’s private sector continued to contract in April 2026, according to the latest Stanbic Bank PMI, which improved slightly to 49.4 from 47.7 in March but remained below the 50 mark that signals growth.
The pace of decline slowed, but businesses were still under pressure from high fuel prices, rising costs, and weaker customer demand.
Treasury Bills Oversubscribed as Investors Maintain Appetite for Government Paper
Kenya’s Treasury bill auction recorded strong demand this week, with total bids of Ksh 29.4 billion against an offer of Ksh 24 billion, translating to an oversubscription rate of about 122%.
The 91-day, 182-day and 364-day papers were accepted at weighted average rates of 8.19%, 8.21% and 8.51% respectively, indicating relatively stable short-term yields in the money market.
I&M Bank Launches Ksh 20 Billion Medium Term Note Programme
Monday morning in Nairobi’s Upper Hill, I&M Bank hosted investors, fund managers, and market stakeholders for the launch of its Medium Term Note programme.
The lender is seeking to raise up to Ksh 20 billion through a Medium-Term Note (MTN) Programme. The first tranche of this issuance aims for Ksh 10 billion, with a greenshoe option of up to Ksh 3 billion.
Absa Bank Kenya Targets Ksh 100 Billion in Asset Financing Expansion
During the week, Absa Bank Kenya unveiled a revamped asset financing proposition aimed at deploying Ksh 100 billion over the next three years to businesses and individuals. The offering is designed to improve access to productive assets and support growth across key sectors of the Kenyan economy, including manufacturing, trade and logistics, infrastructure, as well as health and education.
ICIFA Conference Brings Financial Sector Leaders Together in Mombasa
The 9th ICIFA Conference happened this week in Mombasa, bringing together industry leaders, policymakers, and professionals to discuss developments in the financial sector. The event was officially opened by Dr Susan Koech, Deputy Governor of CBK, who emphasized key themes around market growth, regulation, and financial innovation in Kenya’s evolving investment landscape.
Abojani 77th Masterclass Begins This Week
The Abojani 77th Masterclass officially starts Monday 11th MAy 2026 from 7pm sharp on zoom . For 3 weeks straight, we will teach you how to organise your finances, how to spot the best investment opportunities and just how to get started.
Last minute registration done HERE
Finance for Non-Finance Managers Workshop
Our Finance For Non Finance Managers & Professionals workshop is set to take place on Saturday, 30th May 2026 at the Radisson Blu Hotel – Arboretum in Nairobi, targeting non-finance managers and business owners.
The one-day session will focus on financial literacy, including understanding balance sheets, income statements, and how different business roles impact the bottom line, with tickets priced at Ksh 35,000.Book your seat today!
Mother’s Day Wisdom Series with Nancy Matimu
We hosted a special #MothersDay webinar featuring the authentic and insightful Nancy Matimu, CEO of Serrari Group. Nancy shared powerful reflections on motherhood, money, family, and entrepreneurship, offering practical and deeply personal lessons drawn from her journey. If you missed it, you can catch the full recording here, a truly enriching #WisdomSeries session.
Click here to Catch the Recording
Passcode: Mums@2026
And Finally… Happy Mother’s Day
We take this opportunity to wish all the mothers in our community a joyful and fulfilling Mother’s Day weekend. Thank you for the sacrifices you make, the strength you carry, and the impact you continue to have on families, communities, and generations. We celebrate and appreciate you.
