Business & Economy
Featured News Stories
Bad Fuel Crisis Grows as Kenyan Motorists Face Engine Damage Risk
Kenya is facing a significant fuel scandal involving the importation of substandard petrol containing excessive sulphur and manganese, which can severely damage vehicle engines and emission control systems. The Competition Authority of Kenya has issued a stern warning to oil marketing companies against hoarding and anti-competitive practices amidst ongoing fuel shortages across the country. A severe fuel shortage in Mombasa has forced car importers to shift from road to rail transport for vehicle deliveries, raising concerns about increased congestion at the port and along supply chains. Meanwhile, petrol and diesel prices are rising again despite a ceasefire agreement between the US and Iran, due to ongoing concerns about its durability and its impact on oil supplies.
Jubilee Raises Dividend While Centum Misses Buyback Target
Jubilee Holdings Limited has announced a significant increase in its dividend payout to shareholders, driven by robust profit growth for the year ended December 2025, with net profit growing to Sh5.6 billion. Centum Investment Company has completed its multi-year share buyback programme, repurchasing 10.8 million shares but falling significantly short of its original 10% target amid caution. The High Court in Nairobi has cleared the sale of a majority stake in East African Breweries PLC to Japan's Asahi Group Holdings, dismissing a bid to halt the transaction.
Kenya Anticipates Export Boom as Autopax Launches E-Motorcycle
Kenya is anticipating a significant boost in agricultural exports to China following the implementation of a zero-tariff policy on May 1st, expected to unlock new market access and increase trade volumes for a range of Kenyan products. Separately, Autopax has launched the locally assembled Cheche e-motorcycle in Nairobi, featuring a battery-swapping system designed for commercial riders. At the same time, Air France is increasing capacity on its Nairobi route starting May 15 due to rising travel demand, introducing a larger aircraft to enhance connectivity between East Africa and Europe.
