Business & Economy
Featured News Stories
Bad Fuel Scandal 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. A severe fuel shortage in Mombasa has forced car importers to shift from road to rail transport for vehicle deliveries, as truckers face difficulties sourcing diesel. Meanwhile, petrol and diesel prices continue to rise despite a ceasefire agreement between the US and Iran, due to ongoing concerns about its durability and 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 reaching Sh5.6 billion. Separately, Centum Investment Company completed its multi-year share buyback programme, repurchasing 10.8 million shares but falling significantly short of its original 10% target amid market caution. In a separate development, the High Court in Nairobi 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. Autopax has launched the locally assembled Cheche e-motorcycle in Nairobi, featuring a battery-swapping system designed for commercial riders, marking a development in electric mobility. 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.
