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HomeDaily NewsTuesday, March 31, 2026Gikomba Traders Count Losses After Demolitions - March 2026
Business & Economy6 stories from 4 sources

Gikomba Traders Count Losses After Demolitions - March 2026

Nairobi County officials have demolished part of the Gikomba market's shoe section, destroying stalls and scattering goods. The operation targets structures built on riparian land as part of a wider government directive to reduce flooding risks. Separately, Acorn Investment Management Limited, the owner of Qwetu student housing, announced a profit of Sh1.52 billion for the year ending December 31, 2025, marking a 9.2 percent increase. The Kenyan government is also intensifying scrutiny of the Turkana oil development plan by Gulf Energy, introducing independent environmental and social monitoring audits.

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CCapital BusinessKKTN News (Youtube)NNTV Kenya (Youtube)NNation BusinessFirst

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Tuesday 1:30 PMCapital Business

Gikomba traders count losses after demolitions

Gikomba traders count losses after demolitions

Nairobi County officials have demolished part of the Gikomba market's shoe section, destroying stalls and scattering goods. The operation targets structures built on riparian land as part of a wider government directive to reduce flooding risks.

Read Story

Key Highlights

Nairobi County officials have demolished part of the Gikomba market's shoe section, destroying stalls and scattering goods. The operation targets structures built on riparian land as part of a wider government directive to reduce flooding risks.

  • Traders reported significant economic losses following the destruction of their stalls.
  • The demolitions were carried out by Nairobi County officials following an eviction notice.
  • The action is linked to a Ministry of Interior directive from May 2024 to clear waterways, intensified after recent floods.
  • Legal challenges are ongoing at the Environment and Land Court regarding these evictions.
Tuesday 11:00 AMCapital Business

Qwetu owner Acorn posts Sh1.5bn profit

Qwetu owner Acorn posts Sh1.5bn profit

Acorn Investment Management Limited, the owner of Qwetu student housing, has announced a significant profit of Sh1.52 billion for the full year ending December 31, 2025, marking a 9.2 percent increase from the previous year.

Read Story

Key Highlights

Acorn Investment Management Limited, the owner of Qwetu student housing, has announced a significant profit of Sh1.52 billion for the full year ending December 31, 2025, marking a 9.2 percent increase from the previous year.

  • Profit for the year ended December 31, 2025: Sh1.52 billion
  • Organization: Acorn Investment Management Limited
  • Key strategy: Focus on expanding its income-generating portfolio, with plans to transfer three developments to the income REIT in 2026.
Tuesday 11:05 AMKTN News (Youtube)

Wafanyibiashara Gikomba wakadiria hasara kubwa baada ya ubomozi wa usiku

Gikomba traders are counting massive losses after an overnight demolition exercise. The swift operation saw structures razed down, leaving many business owners devastated.

Key Highlights

Gikomba traders are counting massive losses after an overnight demolition exercise. The swift operation saw structures razed down, leaving many business owners devastated.

  • Unknown number of businesses affected by the demolition.
  • Traders in Gikomba market are the primary victims.
  • The demolition occurred at night, catching many by surprise and preventing the salvage of goods.
Tuesday 1:38 PMNTV Kenya (Youtube)

DCP Party Leader Rigathi Gachagua condemns demolition of Gikomba market on Monday night

DCP Party Leader Rigathi Gachagua condemns demolition of Gikomba market on Monday night

DCP Party Leader Rigathi Gachagua condemns demolition of Gikomba market on Monday night

Deputy President Rigathi Gachagua has strongly condemned the demolition of stalls at Gikomba market, which occurred on Monday night. The destruction has left traders in distress and questioning the authorities' actions.

Key Highlights

Deputy President Rigathi Gachagua has strongly condemned the demolition of stalls at Gikomba market, which occurred on Monday night. The destruction has left traders in distress and questioning the authorities' actions.

  • The demolition, believed to have been carried out by county officials, has affected numerous small-scale traders.
  • Deputy President Rigathi Gachagua is the key figure speaking out against the incident.
  • The incident has sparked outrage and calls for accountability from the affected community and their political leaders.
Tuesday 6:01 PMKTN News (Youtube)

Upinzani wamshambulia Rais Ruto kuhusu ubomozi Gikomba wakidai unyanyasaji dhidi ya wafanyabiashara

Upinzani wamshambulia Rais Ruto kuhusu ubomozi Gikomba wakidai unyanyasaji dhidi ya wafanyabiashara

Upinzani wamshambulia Rais Ruto kuhusu ubomozi Gikomba wakidai unyanyasaji dhidi ya wafanyabiashara

The opposition in Kenya has accused President Ruto's administration of brutality and harassment following the demolitions in Gikomba. They claim the forceful evictions have disproportionately affected small-scale traders.

Key Highlights

The opposition in Kenya has accused President Ruto's administration of brutality and harassment following the demolitions in Gikomba. They claim the forceful evictions have disproportionately affected small-scale traders.

  • Allegations of unnecessary force inflicted upon traders during the demolitions.
  • Key parties involved are the Kenyan opposition and President Ruto's government.
  • The demolitions occurred in the Gikomba area, impacting numerous small businesses.
Monday 8:40 PMNation BusinessFirst

Turkana oil plan scrutiny widens with socio-environment checks

Turkana oil plan scrutiny widens with socio-environment checks

The Kenyan government is intensifying its scrutiny of the Turkana oil development plan by Gulf Energy, introducing independent environmental and social monitoring audits alongside regulatory checks.

Read Story

Key Highlights

The Kenyan government is intensifying its scrutiny of the Turkana oil development plan by Gulf Energy, introducing independent environmental and social monitoring audits alongside regulatory checks.

  • Commercial production on Turkana oil Block T6 and Block T7 is slated to commence by December 2026, with an initial output of 20,000 barrels per day.
  • The Department for Petroleum is recruiting an independent contractor to conduct these crucial Post-ESIA (Environmental and Social Impact Assessment) monitoring audits.
  • These expanded checks complement an ongoing audit by the Energy and Petroleum Regulatory Authority (Epra), tasked with verifying development work programmes and budgets to ensure cost fairness and commercial gains for the State.
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