Business & Economy
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Copia faces insolvency petition over unpaid debts
Kenyan e-commerce firm Copia Kenya is facing an insolvency petition at the High Court concerning unpaid debts, adding to challenges in Kenya's retail sector. This follows a significant profit surge at Car & General, which reported a fourfold jump in net profit to Sh2.4 billion for the year ended December 2025, driven by robust consumer segment sales. Family Bank founder Titus Muya received Sh128.63 million in board pay for the same period. In a separate legal development, digital lender Branch International Limited won a High Court case securing the right to deduct Sh796.7 million in loan write-offs from its tax assessment against the Kenya Revenue Authority.
Rains push up Kenya hydropower output to 9.57 million units
Increased rainfall in Kenya has significantly boosted hydropower output, with electricity generation reaching 9.57 million kilowatt-hours on May 4, 2026. This has reduced reliance on expensive thermal power plants. Amsons Group has pledged to increase investment in Kenya, citing robust demand for infrastructure and a capable workforce. The Communications Authority of Kenya is proposing new rules to regulate cable telecommunication infrastructure installations, inviting public feedback on draft guidelines by May 20, 2026.
Kenya, Tanzania to remove non-tariff barriers by June
Kenya and Tanzania have pledged to strengthen bilateral ties and accelerate economic growth by signing eight new agreements, including a commitment to eliminate non-tariff barriers by June 30, 2026. Meanwhile, Kenya is set to host the Global Flyways Summit in Nairobi this September amid warnings from BirdLife International about significant declines in migratory bird populations. These developments come as the Kenyan government attributed delays in paying Affordable Housing Programme interns to a payroll mix-up rather than lack of funds.
IMF chief warns of much worse outcome for global economy as Mideast war drags on
International Monetary Fund Managing Director Kristalina Georgieva has warned that the global economy faces a much worse outcome if the Middle East war continues, citing potential impacts on inflation and growth. A coalition of Kenyan lobby groups including Oxfam Kenya and Transparency International Kenya has petitioned Parliament to compel the government to release the IMF Governance and Corruption Diagnostic Report on Kenya. Separately, regulators and investors are warning that Africa's betting and gaming sector could be hampered by inconsistent tax policies, potentially deterring investment and reducing tax revenues.
