Business & Economy
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Kenyan Banks Report Billions in Profits for Q3 2025
KCB Group reported a profit after tax reaching Sh47.3 billion for the first nine months ending September 2025, driven by strong growth across all business segments. NCBA Group PLC announced an 8.5 percent increase in its Q3 2025 net profit, reaching Sh16.4 billion, a growth primarily driven by higher operating income and improved asset quality. I&M Group also reported a significant financial uplift, with its profit after tax reaching Sh12.7 billion in the third quarter of 2025, which marks a 27% year-on-year increase. I&M attributed its growth to strong regional subsidiary performance, while digital lending played a significant role for NCBA.
African Economic Development and Integration Pushed at Regional Summits
Global business leaders have submitted 30 policy recommendations to the G20 ahead of its annual summit on November 22–23, focusing on critical areas such as Africa’s development and digital connectivity. At the B20 Summit in Johannesburg, Jacquiline Mugo, CEO of the Federation of Kenyan Employers (FKE), highlighted the urgent need for African enterprises to reskill their workforces to remain competitive globally. Meanwhile, the Democratic Republic of Congo (DRC) is advocating for deeper regional economic integration to achieve lasting peace and stability in the Great Lakes Region. The DRC made this call during a High-Level Segment in Kinshasa, held alongside the 9th Summit of the ICGLR.
President Ruto Announces Infrastructure Fund and New Economic Policies
President William Ruto announced the establishment of a new National Infrastructure Fund, designed to finance Kenya’s development projects without reliance on heavy borrowing and increased taxes. This announcement comes as President Ruto is scheduled to address Parliament on Thursday regarding the State of the Nation, where he will face pressure over the country's economic performance and his bottom-up transformation agenda. Separately, the Kenyan government is aiming to revive its textile industry, which has declined over decades, with a new policy to re-establish it as a major economic pillar for import substitution and export growth.
