Business & Economy
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Kenya Re Maintains Sh840m Dividend Despite Profit Decline
Kenya Re has maintained a Sh839.94 million dividend payout despite an 11.6% drop in net profit for the second consecutive year, with net profit falling to Sh3.92 billion in the financial year ended December 2025. At the same time, KOKO Networks is holding its first creditors' meeting on April 10, 2026, following its exit from the Kenyan market earlier this year. Additionally, Kenyan electric mobility and renewable energy firm Agilitee is set to complete a significant reverse merger with a U.S.-listed company on April 13, 2026, to expand its global presence.
Auditor-General Flags PCF Over Sh1.36bn Outside e-Citizen
The Auditor-General has flagged the Policyholders Compensation Fund (PCF) for collecting Sh1.36 billion in levies and penalties without using the mandatory e-Citizen platform, a directive from the Treasury. Meanwhile, the Bomas International Convention Complex (BICC) in Nairobi is set to cost Sh42 billion, raising concerns about its readiness for the Africa-France Summit on May 12. In a separate regulatory action, the Communications and Multimedia Appeals Tribunal has ruled in favour of the Communications Authority of Kenya, allowing the revocation of six broadcasting licences held by Standard Media Group PLC due to outstanding fees of Sh48.9 million.
