Business & Finance - Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya

Stanbic Bank Kenya appoints Michael Mutiga as new CEO

Sacco ReviewJuly 17, 202605 mins

Stanbic Bank appoints Michael Mutiga as CEO, effective August 1, subject to CBK approval. Mutiga joins from Safaricom after senior banking roles at Citibank and Barclays. He succeeds acting CEO Abraham Ongenge following Joshua Oigara’s regional promotion Stanbic Bank Kenya has appointed Michael Mutiga as its new Chief Executive Officer (CEO), effective August 1, 2026,…

CBK raises Ksh30.62B in oversubscribed Treasury bills auction

Sacco ReviewJuly 17, 202605 mins

CBK raises Ksh30.62 billion in oversubscribed Treasury bills auction 91 day Treasury bill records strongest investor demand Government secures Ksh11.52 billion in net new borrowing The Central Bank of Kenya (CBK) raised Ksh 30.62 billion in a Treasury bills auction that attracted strong demand from investors, even as appetite varied across the three tenors on…

CBK urges Kenyans to report unauthorised mobile loan apps in latest crackdown

Sacco ReviewJuly 15, 202604 mins

CBK urges Kenyans to report illegal mobile loan apps. 25 new lenders licensed, raising the total to 252. Licensed lenders issued Ksh 150.56 billion in loans by May 2026. The Central Bank of Kenya (CBK) has urged Kenyans to report illegal mobile lending applications, as part of an intensified crackdown on unlicensed digital lenders accused…

Nairobi accounts for more than a quarter of Kenya’s economy, KNBS data shows

Sacco ReviewJuly 15, 202605 mins

Nairobi accounted for 27.4 per cent of Kenya’s economy, making it the country’s largest county economy, according to KNBS. Kiambu, Nakuru, Mombasa and Meru completed the top five county economies by Gross County Product. Nairobi also recorded the highest Gross County Product per capita, well above the national average. The Kenya National Bureau of Statistics…

KRA introduces advance cargo declaration platform for containerised shipments ahead of August launch

Sacco ReviewJuly 15, 2026July 15, 202605 mins

KRA will make Advance Cargo Declaration (ACD) mandatory for all containerised imports from August 3. Exporters must secure an ACD reference code before cargo is loaded. The system aims to improve security and speed up customs clearance. Kenya Revenue Authority (KRA) has announced the launch of its new Advance Cargo Declaration (ACD) platform. Starting Monday,…

Kuramo Capital Management seals Ksh.64.5B from African Pension funds to expand investment platform

Sacco ReviewJuly 13, 2026July 13, 202605 mins

Kuramo secured Ksh64.5 billion to expand investments across Africa. The funding is backed by African pension funds and development finance institutions. The firm says the platform will boost private investment and economic growth. Kuramo Capital Management has announced the closing of investment mandates worth approximately $500 million (about Ksh 64.5 billion). The funding comes primarily…

President Ruto announces 60,000 jobs as Lamu oil refinery project takes off

Sacco ReviewJuly 10, 2026July 11, 202605 mins

Ruto confirms Lamu oil refinery project expected to create about 60,000 youth jobs. Government to use Ksh350 billion National Infrastructure Fund to finance major infrastructure projects. President William Ruto has announced thousands of new job opportunities for young Kenyans following the confirmation that a monumental oil refinery will be constructed in Lamu. Speaking on Friday,…

Key sectors push revenue to Sh2.8 trillion as KRA records strongest growth in recent years

Sacco ReviewJuly 10, 2026July 11, 2026016 mins

KRA posts strong revenue growth: The Kenya Revenue Authority collected KSh2.844 trillion in FY 2025/2026, a 10.6 percent increase from the previous year, with manufacturing, energy, finance, ICT, and wholesale and retail sectors driving 62 percent of total revenue. Customs exceed target: Customs revenue grew 12.4 percent to KSh988.8 billion, surpassing its target, while exchequer…

Umowa Sacco launches 9 new Matatus to enhance transport services in Machakos

Sacco ReviewJune 19, 202604 mins

UMOWA Sacco has unveiled a new fleet of nine matatus in a move aimed at improving public transport services and creating employment opportunities in Machakos County and the surrounding region. Machakos Governor Wavinya Ndeti flagged off the vehicles on Friday outside the County Department of Roads and Public Works offices, reaffirming her administration’s commitment to…

Family Bank secures CMA approval for NSE listing set for June 23

Sacco ReviewJune 16, 202604 mins

Family Bank has received approval from the Capital Markets Authority (CMA) to proceed with its listing on the Nairobi Securities Exchange (NSE), paving the way for the bank to offer its shares for trading on the public market. The listing, which will be undertaken through an introduction, will allow existing shareholders to trade their shares…