business
9 storiesToyota dealer recalls vehicles in Kenya over defective airbags: CFAO Mobility Kenya has initiated a recall for Toyota vehicles manufactured between 2001 and 2017 due to defective airbags supplied by Takata, which have been linked to injuries and fatalities worldwide. This recall impacts numerous vehicle owners in Kenya. Separately, Kenya Airways (KQ) has unveiled an ambitious turnaround plan focused on fleet expansion, increased cargo operations, and strengthening its maintenance business to overcome financial challenges. Meanwhile, Tata Chemicals Magadi has warned that approximately 500 jobs are at risk due to the ongoing suspension of its operations following regulatory non-compliance, with its mining licence suspended last month by the Ministry of Mining, Blue Economy and Maritime Affairs. EACC flags governance gaps in Kenya's co-operative sector, calls for stronger controls: The Ethics and Anti-Corruption Commission (EACC) has identified significant governance and oversight weaknesses in Kenya's co-operative sector, warning that these gaps create opportunities for corruption and could endanger billions in sector resources. The High Court in Vihiga has separately declined to halt deductions of a 2 percent HIMS System Utilization Fee from healthcare providers' claims payable to the Social Health Authority (SHA), citing a procedural defect: the absence of a supporting affidavit in the petitioners' application. Additionally, Kenya Power has been legally prohibited from disconnecting electricity to essential county government facilities, including hospitals and fire stations, due to unpaid bills, with the High Court ruling that the state utility must follow specific procedures before resorting to power cuts for critical public services. Sidian Bank half-year net profit rises 28.9pc to Sh1.21bn: Sidian Bank announced a significant increase in its half-year net profit, driven by strong performance in its lending and investment portfolios. The bank reported net profit of Sh1.21 billion, representing a 28.9% increase. This performance is part of a broader trend in Kenya's banking sector, with Equity Group also reporting a substantial 32% rise in profit after tax to Sh45.5 billion for the first half of 2026. Simultaneously, private debt is emerging as a vital alternative financing source for Kenyan micro, small, and medium enterprises (MSMEs), offering flexible solutions amid challenges with traditional credit access.















