Kenya Reinsurance Corporation Ltd (Kenya Re) has suspended its Managing Director, Dr. Hillary Maina Wachinga, for 21 days to review "internal matters." This decision follows a preliminary review by the board of the state-backed reinsurer.

• Nicodemus Gekone, General Manager for Property and Investments, has been appointed as acting Managing Director during the suspension.
• The suspension comes amidst Wachinga's tenure drawing criticism from staff and shareholder activists, with allegations of procurement irregularities and financial mismanagement.
• Kenya Re's share price has surged 170% this year, closing at KSh 3.46, and its profit jumped 50% to KSh 1.58 billion in the first half of the year.