Business & Economy
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Kenyan Banks Report Billions in Profits for Q3 and Nine Months Ending September 2025
Several major Kenyan banks have announced significant profit growth in their latest financial disclosures. KCB Group reported its profit after tax reached 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. Similarly, I&M Group's profit after tax for the third quarter of 2025 reached Sh12.7 billion, a 27% year-on-year increase. I&M attributed its growth to strong regional subsidiary performance and strategic digital advancements, while NCBA's growth was supported by its digital lending platforms.
Regional and Global Summits Address African Economic Development and Integration
Discussions on African economic strategy are featuring prominently in several regional and international forums. The Democratic Republic of Congo (DRC) is advocating for deeper regional economic integration to secure peace in the Great Lakes Region, a call made during a High-Level Segment in Kinshasa. At the B20 Summit in Johannesburg, Jacquiline Mugo, representing the International Organization of Employers (IOE), highlighted the urgent need for African enterprises to reskill their workforces to remain globally competitive. Meanwhile, global business leaders have submitted 30 policy recommendations to the G20 ahead of its November 22–23 summit. These proposals focus on key priorities such as Africa’s development, digital connectivity, and access to capital.
Kenyan Government Announces New Economic Policies and Plans
The Kenyan administration has revealed several key economic initiatives. President William Ruto announced the establishment of a new National Infrastructure Fund, designed to finance development projects without relying on heavy borrowing or increased taxes. This plan will be complemented by a Sovereign Wealth Fund to attract diverse investments. Separately, the government has introduced a new policy aimed at reviving Kenya's textile industry, which has declined over decades due to underinvestment and uncontrolled imports. This policy aims to re-establish the sector as a major economic pillar. These developments come as President Ruto is scheduled to address Parliament on the State of the Nation, where he is expected to discuss his bottom-up economic transformation agenda.
