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HomeDaily NewsThursday, August 27, 2026Wananchi Group Posts Sh806mn H1 Loss as I&M Profit Rises 22% - August 2026
Business & Economy3 stories from 1 sources

Wananchi Group Posts Sh806mn H1 Loss as I&M Profit Rises 22% - August 2026

Wananchi Group, the parent company of internet provider Zuku, reported a significant net loss of Sh806 million in the first half of 2026. In contrast, I&M Group achieved a 22.35 percent increase in net profit after tax, reaching Sh10.17 billion, primarily driven by stronger income from lending activities. Meanwhile, Equity Group significantly expanded its workforce, hiring 410 new employees in the three months leading up to June 2026. These three stories highlight divergent financial trajectories across Kenya's financial sector, with some institutions reporting losses while others experience growth.

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Thursday 1:30 PMCapital Business

Zuku owner Wananchi Group posts Sh806mn H1 loss

Zuku owner Wananchi Group posts Sh806mn H1 loss

Wananchi Group, the parent company of internet provider Zuku, reported a significant net loss of Sh806 million ($6.2 million) in the first half of 2026.

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Key Highlights

Wananchi Group, the parent company of internet provider Zuku, reported a significant net loss of Sh806 million ($6.2 million) in the first half of 2026.

  • The loss from Wananchi contributed to a $44.9 million year-on-year decrease in the parent group’s net profit.
  • Despite this, the group's overall revenue increased by 26.5 percent to $980 million, driven by strong performances in Tanzania and Madagascar.
  • Intense competition in Kenya's broadband and pay-TV markets is cited as a factor impacting Wananchi's performance.
Thursday 9:33 AMCapital BusinessFirst

I&M profit after tax up 22pc to Sh10.17bn on stronger lending income

I&M profit after tax up 22pc to Sh10.17bn on stronger lending income

I&M Group has reported a significant 22.35 percent increase in net profit after tax for the first half of 2026, reaching Sh10.17 billion, primarily driven by stronger income from lending activities.

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Key Highlights

I&M Group has reported a significant 22.35 percent increase in net profit after tax for the first half of 2026, reaching Sh10.17 billion, primarily driven by stronger income from lending activities.

  • I&M Group's net profit surged to Sh10.17 billion, a 22.35 percent increase from the previous year.
  • The bank's net interest income grew by 22.52 percent to Sh25.04 billion as its gross loan book expanded by 15 percent to Sh333.81 billion.
  • Non-interest income also saw a substantial rise of 24.5 percent to Sh8.66 billion, while gross non-performing loans decreased by 12.39 percent.
Thursday 4:00 PMCapital Business

Equity Group hires 410 new employees in three-months to June

Equity Group hires 410 new employees in three-months to June

Equity Group Holdings has significantly expanded its workforce, hiring 410 new employees in the three months leading up to June 2026.

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Key Highlights

Equity Group Holdings has significantly expanded its workforce, hiring 410 new employees in the three months leading up to June 2026.

  • The group's total staff count rose to 14,265 in June, up from 13,855 in March.
  • Equity Group Holdings, with its operations in the Democratic Republic of Congo (DRC) accounting for more than half of the new hires (253 employees).
  • This hiring surge occurs as Equity Group continues to shift a substantial portion of its banking activity to digital channels, with 98.3 percent of transactions now conducted outside branches.
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