Safaricom Ethiopia Surpasses 14.7 Million Active Customers
Safaricom Ethiopia continued its impressive growth trajectory after reporting a 46.1% increase in active 90-day customers to 14.7 million during the first quarter of FY2027.
The operator’s data customers rose by 47% to 11.52 million, while voice customers increased by 37.2% to 12.03 million. M-PESA remained one of the standout performers, with customers more than doubling to 5.69 million, reflecting growing adoption of digital financial services in Ethiopia.
Service revenue climbed 67.6% to Ksh 4.95 billion, with mobile data contributing nearly three-quarters of total service revenue. Group CEO Peter Ndegwa reaffirmed management’s confidence that the Ethiopian business remains on track to achieve EBITDA break-even during the current financial year.
CRDB and KCB Tanzania Deliver Strong Half-Year Results
The Tanzanian banking sector also delivered encouraging results this week.
CRDB retained its position as Tanzania’s most profitable bank after reporting a 20.3% increase in profit after tax to Tsh 416.9 billion (approximately Ksh 20.4 billion) during the first half of 2026.
Meanwhile, KCB Tanzania posted a 20% growth in profit after tax to Tsh 35.3 billion (about Ksh 1.7 billion), while becoming one of the few banks in Tanzania to surpass the Tsh 2 trillion asset milestone.
The results continue to demonstrate the growing importance of regional diversification for East African banking groups.
Corporate Updates
Centum Investment Company appointed Mary Wangari Wamae as an Independent Non-Executive Director, strengthening its board with one of Kenya’s most experienced corporate leaders.
Elsewhere, Umeme Limited issued a profit warning following the conclusion of its 20-year electricity distribution concession in Uganda, signalling that the company expects a significant decline in earnings for the first half of 2026.
KCB Secures Ksh 12.9 Billion MSME Financing Facility
KCB Bank Kenya secured a Ksh 12.9 billion financing facility from the European Bank for Reconstruction and Development (EBRD) to expand lending to micro, small and medium-sized enterprises (MSMEs).
The facility complements KCB’s existing SME strategy, having already extended Ksh 13 billion in new MSME loans during the first quarter of 2026.
Access to affordable financing remains one of the biggest challenges facing small businesses, making partnerships such as this increasingly important for private sector growth.
Absa Kenya Deepens Its Sustainability Agenda
Absa Bank Kenya released its 2025 Sustainability and Climate Report during the week.
The bank reported that sustainable finance accounted for 30% of all loan disbursements in 2025, comfortably exceeding its original target of 10%. Since 2022, the lender has disbursed more than Ksh 204 billion towards sustainable finance initiatives, highlighting the growing integration of environmental and social considerations into mainstream banking.
Inflation Edges Higher in July
Kenya’s headline inflation rose slightly to 6.5% in July 2026 from 6.4% recorded in June.
Although the increase was modest, inflation remains above the midpoint of the Central Bank’s target range and continues to be an important indicator for both monetary policy and investor expectations.
NCBA Deepens Support for Kenya’s Creative Economy
NCBA Group, through its Elev8 programme, sponsored ten creators to participate in the inaugural Creative Economy 101 programme by The Burns Brothers in partnership with Strathmore University Business School.
The initiative aims to equip creatives with practical business, financial management and entrepreneurship skills required to build sustainable businesses within Kenya’s growing creative economy.
Treasury Bills Record Mixed Demand as Infrastructure Bonds Return
Treasury bills recorded a slight undersubscription during the week, with the government raising Ksh 27.29 billion against an offer of Ksh 28 billion.
The 364-day Treasury bill continued offering the highest return at 9.0169%, maintaining yields above the 9% mark.
Meanwhile, the National Treasury returned to the domestic bond market seeking to raise Ksh 150 billion through the reopening of three Infrastructure Bonds: the 16-year IFB1/2019/016, 18-year IFB1/2021/018 and 21-year IFB1/2021/021. The bonds offer coupon rates of 11.75%, 12.667% and 12.737% respectively, with bids closing on 12th August 2026.
Coming Up
Safaricom shareholders should note that the book closure date for the Ksh 1.15 final dividend is scheduled for 4th August 2026.
Finance For Teens
Registration also remains open for our Finance for Teens Workshop, which will take place on 13th August 2026 in partnership with the Nairobi Securities Exchange. The programme is designed to equip young people with practical financial skills that will serve them throughout their lives.
The 6th Abojani Economic Empowerment Conference
Kenya’s biggest economic empowerment conference is happening on 21st November 2026 at Radisson Blu Upper Hill, Nairobi.
Themed “Invest Intelligently,” the 6th Abojani Economic Empowerment Conference will bring together investors, entrepreneurs, fund managers, and thought leaders to help you navigate today’s complex investing landscape and make informed investment decisions.
Book your slot today: HERE
The 80th Personal Finance Masterclass
Finally, our 80th Abojani Personal Finance, Saving & Investing Masterclass officially begins on 10th August 2026. As we celebrate this milestone edition, participants will learn from leading industry experts on retirement planning, insurance, offshore investing, capital markets and other wealth-building opportunities designed to help investors make better financial decisions.
CEO & Co-Founder, Abojani Investment
Robert Ochieng is a visionary entrepreneur and the co-founder of Abojani Investment, a leading financial education platform in Kenya that has empowered over 20,000 Africans to embark on their investment journeys. As CEO, he has demonstrated an unwavering commitment to financial literacy, successfully demystifying money and investments and making them accessible and relevant to individuals from all walks of life.
Running Thriving Investment Communities
Robert’s influence extends well beyond Abojani Investment’s core offerings. He has actively fostered a sense of community by running investment forums and groups with a vast following of over 300,000 Africans. These communities provide a safe space for individuals to exchange ideas, share experiences, and support each other on their investment journeys.
Vision for the Future
As co-founder of Abojani Investment, Robert envisions a financially empowered Africa. He strives to expand the reach of his financial education initiatives, enabling millions more to gain the knowledge and confidence needed to achieve their financial goals. His vision is to create a society where every individual has the tools and understanding to build lasting wealth and prosperity.
Professional Background
Robert Ochieng is a highly accomplished CEO at the helm of Abojani Investment, an investment and advisory firm in Kenya. He is a seasoned professional with over 14 years of experience in IT, Finance, and leadership.
His career includes key roles at prominent institutions such as Equity Bank, Gulf African Bank, Guaranty Trust Bank (GTBank) and Airtel.
Robert’s expertise has also been sought after by the National Treasury for consultancy on planning and budgeting systems, showcasing his exceptional knowledge and skills in the field. Passionate about driving meaningful conversations and collaborations between academia, industry, and the public sector, Robert actively engages in research projects focusing on digital transformation within the financial services sector. With his visionary leadership and strategic insights, Robert Ochieng continues to make a significant impact in the business world.
