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Book Bunk and Hay Festival Global conclude Nairobi Litfest 2026 in three Nairobi public libraries

Book Bunk and Hay Festival Global conclude Nairobi Litfest 2026 in three Nairobi public libraries

4 min read

Book Bunk and Hay Festival Global have concluded the 2026 edition of Nairobi Litfest, held in Nairobi from May 8 to May 10 across McMillan Memorial Library, Kaloleni Library and Eastlands Library, according to a statement dated May 25, 2026. The organisers said the festival’s fifth edition brought together writers, artists, educators and audiences for more than 25 sessions over three days.

The event took place inside public libraries that Book Bunk has been restoring through a partnership with Nairobi City County, positioning the festival within a broader push to revive public cultural infrastructure. In its programme summary, the organisers cited masterclasses, panel discussions, performances and a children’s festival among the key formats used to engage audiences.

Organisers said highlights included a screening of the documentary How to Build a Library, which they said follows Book Bunk’s work in restoring public libraries, and a live performance by Kenyan artist Mutoriah on the second day of the festival.

The festival’s 2026 theme focused on “speculative cartography and South-to-South connections,” which the organisers said was intended to encourage audiences to rethink boundaries, imagine alternative futures and engage across disciplines and geographies.

Wanjiru Koinange, Book Bunk Co-Founder and Nairobi Litfest Co-Director, said the festival depends on collaborative effort and sustained participation. “Nairobi Litfest is a festival built by many hands and sustained by a shared belief in the power of sharing ideas. Each successful edition is a result of our guests, audiences and partners showing up for each other, for their communities and for storytelling,” Koinange said.

The organisers said Book Bunk and Hay Festival Global have partnered since 2024 to co-present Nairobi Litfest. Over the past three editions, the partners said they have hosted more than 120 writers and artists across 75 events, reaching an audience of more than 3,000 in person and online.

Julie Finch, CEO of Hay Festival Global, said the organisation intends to continue the partnership. “We are delighted with the success of Nairobi Litfest 2026 and proud to continue our partnership with Book Bunk. Together, we are creating meaningful spaces for dialogue, imagination and exchange for audiences in Nairobi and around the world,” Finch said.

Angela Wachuka, Book Bunk Co-Founder and Nairobi Litfest Co-Director, said the festival’s positioning in public libraries remains central to its identity. “Five editions in, Nairobi Litfest continues to be a place where urgent conversations about literature, art and ideas find a home inside public libraries that belong to everyone,” Wachuka said.

In its programme recap, the organisers said the 2026 edition included masterclasses in fiction writing, autobiography, poetry, curatorial practice and indie publishing led by Lina Meruane, Dr. Nick Makoha, Ellah Wakatama OBE, Ciku Kimeria, Richard Oduor Oduku and Dr. Portia Malatjie. They also cited children’s sessions featuring storytelling, music and movement, chess, puppetry and painting with Muthoni Maina, Orpah Agunda, Tunde Onakoya, Michael Mutahi and Prisca Ojwang.

The organisers said panel discussions addressed imagination, identity and social change, featuring speakers including Alain Mabanckou, Yvonne Owuor, Natasha Brown, Lesley Nneka Arimah, Safiya Sinclair, Inua Ellams and Nanjala Nyabola, alongside film and curatorial conversations with Moussa Sene Absa, Maia Lekow, Chris King, Dr. Portia Malatjie and Lola Shoneyin.

Cristina Fuentes La Roche, International Director at Hay Festival Global, said the partners view the festival as a platform connecting local and international voices. “Nairobi Litfest continues to celebrate the best of local and global literature, bringing together artists, writers and audiences in meaningful exchange,” Fuentes La Roche said.

For Kenya’s cultural and creative economy, the festival’s continued use of public libraries as venues underscores a growing business and policy conversation about investing in community-based cultural infrastructure, programming and skills development. Book Bunk’s model links restoration to programming and digitisation, which can expand access to content and create new opportunities for creators, educators and cultural organisations.

In “notes to editors,” the organisers said the 2026 collaboration between Hay Festival Global and Book Bunk was supported by the British Council as part of the UK/Kenya Season 2025, with additional main support from Open Society Foundations and Hawthornden Foundation. They also cited programming partnerships with Amnesty International Kenya, The Caine Prize for African Writing, Acción Cultural Española (AC/E), the Ramón Llull Institut and Indus Conclave.

Looking ahead, the partners indicated the collaboration will continue, building on the past three editions’ scale and international mix of participants. The organisers did not announce dates for the next edition in the statement.

Book Bunk and Hay Festival Global have concluded the fifth edition of Nairobi Litfest, held from May 8 to May 10, 2026 across McMillan Memorial Library, Kaloleni Library and Eastlands Library. Organisers said the programme featured more than 25 sessions, including masterclasses, panels, performances and a children’s festival, as the partners continue to build an international-facing literary platform anchored in public libraries.

Sprite and Safaricom fete young creators as Hook’d on Fresh awards close campaign

Sprite and Safaricom fete young creators as Hook’d on Fresh awards close campaign

4 min read

The Coca-Cola Company, through its Sprite brand in Kenya, has awarded winners of the Hook’d on Fresh user-generated content (UGC) challenge in a ceremony held in Nairobi on May 25, 2026, concluding Phase 1 of the “It’s That Fresh” campaign run in partnership with Safaricom.

According to the organisers, the campaign drew more than 1,300 verified creators from universities across the country and produced over 22 million views nationwide on TikTok and Instagram, alongside 2 million engagements, 52,592 shares and 55,910 saves.

The initiative also recognised 123 winners and allocated creator rewards worth KES 1.5 million, in addition to 600GB in data bundles “tracked for payout and fulfilment,” according to the statement.

The campaign invited young Kenyans to create and share short-form videos on TikTok and Instagram, with activations spanning campus events, creator sessions and basketball-themed experiences. The organisers said the campaign began with a Valentine’s Day event at the KICC COMESA Grounds that attracted more than 5,000 young people. They also said more than 3,000 students and creators attended the closing ceremony.

Juliana Kituma, Director, Frontline Marketing, Coca-Cola Kenya, said the campaign aimed to engage young people through the platforms and spaces where they create and socialise. “It’s That Fresh was created to meet young Kenyans where they live, play, create and express themselves,” Kituma said. She added that the campaign reflected “the incredible confidence, humour, originality and cultural influence” of young creators and that participants “shaped the campaign with their own voices.”

Safaricom linked the partnership to digital access and skills. “For Safaricom, this campaign has been about showing that connectivity is not just access to data; it is access to opportunity,” said Susan Muthoka, Youth Segment Lead, Safaricom. She said the campaign showed what could be achieved “when young people are given the tools, platforms and rewards to turn their talent into impact.”

As part of the partnership with Safaricom Hook, the companies ran the Hook’d on Fresh Masterclass Series, which the statement said was hosted by digital creators including Carrie Wahu, Tileh Pacbro, Charisma, Rono and Cluster KE. The masterclasses focused on content creation, virality, digital monetisation and audience building, the organisers said.

Performance metrics shared by the organisers showed TikTok led campaign reach with 19 million views and 1.7 million engagements, while Instagram contributed 4 million views and 500,000 engagements. The campaign platform recorded 50,000 total impressions, according to the statement.

Among the participants cited, Evans Githinji was highlighted by the organisers as one of the top performers, with more than 5.2 million video views. “For me, Hook’d on Fresh was more than a challenge, it was a chance to show my creativity and see how far one idea could go,” said Evans Githinji, a Hook’d on Fresh winner.

The campaign’s structure—combining brand-funded incentives, telco-supported data bundles and creator training—reflects a growing commercial interest in Kenya’s creator economy, where platforms such as TikTok and Instagram are increasingly used to build audiences and test monetisation models. For Safaricom, the partnership also positions youth-focused bundles and services around content creation and consumption, a segment that is competing for data spend.

Looking ahead, Sprite and Safaricom said the impact would continue beyond the awards through creators who gained new audiences and digital skills. Kituma said the organisers viewed the results as evidence of growth potential in the sector: “This campaign has shown that Kenya’s creator economy is vibrant, ambitious and ready for even bigger platforms.”

Coca-Cola’s Sprite and Safaricom have recognised 123 winners of the Hook’d on Fresh user-generated content challenge, marking the close of Phase 1 of Sprite’s “It’s That Fresh” campaign in Kenya. The companies said the programme attracted more than 1,300 verified creators and generated over 22 million views across TikTok and Instagram, alongside KES 1.5 million in rewards and 600GB in data bundles.

KMRC lists KES 3 billion sustainability bond on NSE as issue attracts KES 9.38 billion bids

KMRC lists KES 3 billion sustainability bond on NSE as issue attracts KES 9.38 billion bids

4 min read

Kenya Mortgage Refinance Company (KMRC) has listed its KES 3 billion sustainability bond on the Nairobi Securities Exchange (NSE) after the issue attracted applications worth KES 9.38 billion, representing an oversubscription rate of 312.8%, the company said in a media release dated May 25, 2025.

The listing is KMRC’s second tranche under its approved KES 10.5 billion Medium-Term Note (MTN) Programme. KMRC said its inaugural KES 1.4 billion issuance in 2022 attracted applications worth KES 8.5 billion.

KMRC said proceeds from the sustainability bond will be blended with its existing concessional funds and deployed towards refinancing eligible green affordable home loans and eligible social home loans. The company said the green segment targets climate-resilient and environmentally sustainable housing, while the social segment supports inclusive access to homeownership, including for women and low-income households.

“Today’s listing affirms the role of capital markets in making homeownership more accessible, affordable, and sustainable,” said Johnstone Oltetia, KMRC Chief Executive Officer and Managing Director, in the release. He added that the investor response “demonstrates confidence in KMRC’s mandate in of promoting affordable home ownership while deepening Kenya’s debt capital markets.”

The transaction comes as Kenya’s capital markets continue to see renewed activity in corporate and development-linked debt, with issuers seeking longer-term funding amid tight credit conditions and elevated borrowing costs. For the housing market, KMRC’s model of providing liquidity to lenders aims to support longer-tenor mortgages and stable pricing, particularly for qualifying segments targeted under affordable housing efforts.

KMRC said it has refinanced over KES 30 billion in home loans since inception, supported more than 5,800 homeowners, expanded its reach across 39 counties, and advanced inclusive homeownership, with “nearly half” of refinanced loans benefiting women. The company attributed its role to addressing “structural constraints of liquidity and affordability” that have historically limited mortgage market depth.

By providing long-term liquidity to primary mortgage lenders, KMRC said it supports fixed-rate, single-digit home loans with longer repayment periods, which it said can reduce monthly repayment burdens for qualifying borrowers.

KMRC board chair Haron Sirima said the listing demonstrates how capital markets instruments can finance development outcomes. “This listing reflects growing confidence in KMRC’s mandate, governance, and long-term contribution to Kenya’s housing sector,” Sirima said. “It demonstrates that affordable housing can be supported through market-based instruments that deliver financial returns alongside measurable social and environmental impact.”

National Treasury and Economic Planning Cabinet Secretary John Mbadi described the issuance and listing as a national milestone. “It signals a decisive shift in how we mobilize capital to finance development priorities, particularly housing,” Mbadi said, adding that it affirms Kenya’s capital markets are “deepening, diversifying, and maturing,” according to the release.

NCBA Group Managing Director John Gachora, speaking at the listing, said the bank acted as Lead Arranger for the transaction. “As Lead Arranger, NCBA is proud to have supported KMRC in structuring and bringing this transaction to market, mobilizing long-term funding for Kenya’s affordable housing sector,” Gachora said.

KMRC said it is licensed by the Central Bank of Kenya as a financial institution and by the Capital Markets Authority as an issuer of securities to the public. Its shareholders include the National Treasury (25.3%), Development Finance Institutions (22.9%), commercial banks (44.4%), and SACCOs (7.5%). The company said its mandate is to promote homeownership through refinancing delivered via banks and SACCOs, with loans offered at single-digit fixed rates and repayment periods of up to 25 years.

Market watchers will be monitoring how quickly KMRC deploys the new funds into refinancing pipelines and whether the sustainability-labelled structure attracts repeat participation from institutional investors in future tranches under the KES 10.5 billion programme.

Kenya Mortgage Refinance Company (KMRC) has listed a KES 3 billion sustainability bond on the Nairobi Securities Exchange after investors submitted applications worth KES 9.38 billion. KMRC said the proceeds will refinance eligible green affordable home loans and social home loans through primary mortgage lenders, supporting its broader affordable housing mandate.

Mitsumi invests KES 258 million to build AI cloud platform for Kenyan developers

Mitsumi invests KES 258 million to build AI cloud platform for Kenyan developers

3 min read

Mitsumi Distribution has announced a KES 258 million (US$2 million) investment to build an artificial intelligence (AI) cloud platform intended to give Kenyan university graduates, software developers and early-stage tech entrepreneurs access to affordable computing infrastructure.

The company said the initiative was announced last week in Nairobi during the AI Everything Kenya X GITEX Kenya Summit. According to Mitsumi, the platform is designed to reduce the cost barriers that can limit local developers’ ability to build, test and scale AI-enabled products on cloud infrastructure.

Mitesh Shah, Co-founder and Managing Director at Mitsumi Distribution, said the company is funding the project largely as a corporate social responsibility (CSR) initiative. “The AI cloud we are putting up is around $2 million. This is mostly CSR from Mitsumi’s side so that most of our educated youths can utilize it for different things,” Shah said.

Mitsumi said the platform will enable local developers to build and test software, experiment with AI solutions and connect to international technology markets without incurring the costs typically associated with global cloud services. The company added that access to advanced tools and computing power remains a key constraint for many young innovators.

Jagat Shah, Chairman and CEO of Mitsumi Distribution, linked the investment to affordability challenges faced by young professionals. “So many youths are well educated to do something good, but because of cost and affordability, they are not getting good exposure,” he said.

The announcement comes amid increased public and private sector focus on digital infrastructure and AI skills as Kenya positions its digital economy for growth. For the local market, access to compute is a practical constraint for AI development, given that training and running modern AI models can be expensive and often requires specialised hardware capacity.

Mitsumi also disclosed that it has hired more than 50 young people within its AI division, where it said they are working on research, product development and digital solutions. The company argued that Kenya’s talent base could support a stronger role in regional AI and software development if infrastructure constraints are addressed. “Kenyan youth possess exceptional technical talent and a strong understanding of software development. What has been missing is greater access to platforms and infrastructure that can help them innovate, scale and compete globally,” Jagat Shah said.

The firm welcomed the government’s ongoing efforts to develop an AI policy framework, stating that clear regulation and ethical standards could support responsible innovation. While the company did not provide timelines for the cloud platform’s rollout or details on how developers will access the infrastructure, it indicated the initiative is intended to broaden participation in AI development.

Looking ahead, Mitsumi said locally developed AI solutions could be applied to improve healthcare, education and access to essential services, particularly in underserved and remote communities. The next milestones likely to be watched by the sector include the platform’s launch date, eligibility and pricing structure for users, and how the initiative aligns with Kenya’s emerging AI policy direction.

Technology distributor Mitsumi Distribution says it is investing KES 258 million (US$2 million) to set up an artificial intelligence cloud platform aimed at expanding access to computing infrastructure for young Kenyan innovators. The firm announced the plan in Nairobi during the AI Everything Kenya X GITEX Kenya Summit, positioning the project as part of its corporate social responsibility agenda and broader talent development efforts.

Samuel Njoroge wins PGK Equator Tour second leg at Thika Sports Club

Samuel Njoroge wins PGK Equator Tour second leg at Thika Sports Club

3 min read

Samuel Chege Njoroge won the second leg of the PGK Equator Tour Second Edition at Thika Sports Club on Saturday, carding 278 (10 under par) over four days to top a field of Kenyan professional golfers.

In a statement dated May 24, 2026, Njoroge was described as a Safaricom-sponsored player and was said to have delivered consistent rounds to clinch the title. Dismas Indiza finished second with 279, while Karanga Michael placed third with 283, according to the same statement.

The result adds to Njoroge’s record in the series after he won his maiden PGK Equator Tour title during the first edition at Diamonds Leisure Golf Club in Diani, the statement said.

“I am very excited to win this tournament. The competition was tough, and every round was challenging, so I am happy with how I played throughout the week. Winning at Thika Sports Club is special to me, and this victory gives me confidence going into the next legs of the tour,” Samuel Chege Njoroge said.

Other players who finished in the top ten were Kennedy Abuto (288), Greg Snow and Edwin Mudanyi (tied at 289), John Lejirma (290), CJ Wangai (294), Mike Kisia (295) and Mohit Mediratta (296), the statement said.

The PGK Equator Tour is part of Kenya’s domestic professional golf calendar and is played across multiple venues, offering tournament competition for local golfers seeking ranking points, prize earnings and visibility with sponsors. According to the statement, this year’s tour is scheduled across 11 courses around the country, with players also targeting slots tied to major events including the Magical Kenya Open and the 2028 Olympic Games in Los Angeles.

The tour’s corporate backers include Safaricom, NCBA, Betika, Kenya Airways, Visa, Britam and Johnnie Walker, the statement said. Sponsorship of local sports properties has become an increasingly important channel for brands seeking consumer engagement, while also supporting event logistics, media coverage and player development in Kenya’s sports economy.

For Safaricom, sports sponsorship sits alongside its wider brand and corporate profile as a Nairobi Securities Exchange-listed company. In the same statement’s company profile, Safaricom said it had annual revenues of KES 400 billion as at March 2026, and that M-PESA generated KES 182.7 billion in revenue as at FY26. The company also cited an estimated KES 1.1 trillion total economic value (KES 1.1 trillion; $8.5 billion) for the 12 months through March 2025 and said it supports 1.13 million jobs directly and indirectly.

Attention now shifts to Limuru Country Club, where the third leg of the tour will be staged following the conclusion of the Thika event, according to the statement. The remaining legs are expected to continue across the tour’s 11-course schedule as players build form ahead of key regional and international competitions.

Professional golfer Samuel Chege Njoroge won the second leg of the PGK Equator Tour Second Edition at Thika Sports Club after carding 278 (10 under par), according to a statement issued on Saturday. The Safaricom-sponsored player finished ahead of Dismas Indiza and Karanga Michael as the tour now shifts to Limuru Country Club for the third leg.

Eastern Produce Kenya and Nandi County open GBV and mental health clinic at Nandi Hills County Hospital

Eastern Produce Kenya and Nandi County open GBV and mental health clinic at Nandi Hills County Hospital

3 min read

Eastern Produce Kenya (EPK), in partnership with the County Government of Nandi and private-sector partners Taylors of Harrogate and Infre, has opened an integrated Gender-Based Violence and Mental Health (GBVMH) Clinic at Nandi Hills County Hospital. The facility was launched on May 22, 2026, in Nandi Hills and is aimed at improving coordinated support for survivors of gender-based violence by combining medical, psychosocial and referral services in one location.

According to the announcement, the clinic is designed as an integrated centre to offer survivors what EPK described as dignified, coordinated and comprehensive care within a single safe environment. The model brings together healthcare providers, counsellors, social workers and links to law enforcement to improve reporting and case follow-up.

The clinic adds to existing GBV-related infrastructure supported by EPK in the area. EPK said it previously built and equipped a GBV Gender Desk at the Nandi Hills Police Station, and that the new hospital-based clinic is intended to strengthen reporting and referral pathways between the police and the healthcare system.

During the launch ceremony, Noel Lindsay-Smith, Operations Director at Eastern Produce Kenya, said the centre was designed to prioritise survivor privacy and holistic care. “Gender-based violence is not only a health issue; it is a human right and community issue. Survivors deserve spaces that protect their dignity, safeguard their privacy, and support their healing journey in a holistic way,” Lindsay-Smith said. He added, “This clinic was designed with that in mind. It will help create an environment where survivors are less likely to feel alone, ashamed or unsupported when seeking help.”

EPK said the clinic includes consultation rooms, counselling and therapy spaces, separate male and female observation rooms, child-friendly support areas, a reception and referral coordination unit, and integrated systems for case documentation and follow-up. The company added that mental health services have been integrated into the clinic’s care model to address psychological and emotional effects that can accompany gender-based violence.

Survivors can seek help by dialling 1195, according to the statement. EPK said a County Gender Based Violence Coordinator will receive complaints and support survivors with reporting, referrals and case management to help ensure timely and continuous care.

Nandi County officials said the project reflects a broader need for multi-agency collaboration to address gender-based violence and mental health challenges. “This facility demonstrates the power of partnership between government, private sector and community stakeholders in strengthening our health and social support systems. Gender-based violence and mental health challenges require coordinated responses, and this center brings these services closer to the people who need them most,” said Dr. Francis Sang, County Secretary, Nandi County.

The opening comes as Kenya continues to intensify national conversations on gender-based violence and femicide, including the need for stronger prevention measures and survivor protection systems, according to EPK’s statement. For businesses with large workforces and community footprints—particularly in agriculture and manufacturing—workplace and community safety programmes are increasingly intersecting with employee wellbeing, retention and community relations.

In the near term, the clinic’s impact will depend on utilisation, staffing, inter-agency coordination and sustained funding for counselling, documentation and follow-up services. The partners did not disclose the project’s cost or operational budget. EPK said it will continue supporting initiatives aimed at strengthening community safety and resilience for women, children and families.

Eastern Produce Kenya, working with the County Government of Nandi and partners Taylors of Harrogate and Infre, has opened an integrated Gender-Based Violence and Mental Health clinic at Nandi Hills County Hospital. The clinic is intended to strengthen survivor care, referrals and coordination between health services, law enforcement and social support providers.

Carrefour marks 10 years in Kenya with 34 stores, 3,000 jobs and KES 20 million customer rewards campaign

Carrefour marks 10 years in Kenya with 34 stores, 3,000 jobs and KES 20 million customer rewards campaign

3 min read

Carrefour, operated in Kenya by Majid Al Futtaim, is marking its 10-year anniversary in the country, reporting that it has grown to 34 stores nationwide and created more than 3,000 direct jobs since entering the market in 2016.

In a press release dated 22 May 2026 in Nairobi, the retailer said it now works with more than 690 Kenyan suppliers and sources 99% of its products locally. Carrefour also said it has strengthened its e-commerce offering over the period and built a modern retail supply chain as part of its expansion strategy.

The anniversary comes as Kenya’s formal retail sector continues to evolve following years of disruption and consolidation, including the exit or restructuring of several local supermarket chains. Carrefour’s decade-long buildout is being watched by suppliers, mall developers and competitors as an indicator of how international retailers can scale in Kenya while maintaining local procurement.

To commemorate the milestone, Carrefour has launched a nationwide customer appreciation campaign dubbed ‘10 Years, 10 Million Stories’, running from 22 May to 11 June across all stores and the Carrefour App. The company said the campaign includes rewards valued at over KES 20 million (KES 20 million stated), including 10 vehicles, school fee vouchers, home appliances, paid holiday trips and discounts of up to 50%.

Christophe Orcet, Regional Director – East Africa at Majid Al Futtaim Retail, said the anniversary reflected what he described as a sustained partnership with the local market. “Reaching this 10-year milestone reflects the strength of our partnership with the Kenyan market. Our focus has been on building a resilient retail ecosystem, working closely with local suppliers, empowering our people and continuously enhancing the customer experience,” Orcet said.

He added that the group expects further growth. “As we look ahead, we see significant opportunities to scale this model further, deepening our contribution to the economy while delivering sustained, long-term growth,” Orcet said.

The company’s update also referenced broader industry indicators. Citing the Boston Consulting Group, the statement said modern retail is expected to increase its market share by around five percentage points by 2030. It also cited Kenya National Bureau of Statistics (KNBS) data indicating that wholesale and retail trade contributed 5.4% of GDP in the first quarter of 2025, and that employment in the sector grew by approximately 2% between 2023 and 2024.

For Kenyan suppliers, a retail chain that says it sources 99% of its products locally implies a large and relatively structured route to market, particularly for packaged food, fresh produce and household goods. However, supplier development often requires meeting stricter quality, packaging and delivery standards, and maintaining consistent volumes—factors that can reshape how SMEs and agribusinesses invest in production and logistics.

Carrefour’s continued store rollout and app-driven promotions also point to increased competition in urban retail nodes, where location strategy, last-mile delivery partnerships and pricing discipline remain central to winning market share. The growing role of loyalty and reward campaigns may further raise customer acquisition costs across the sector.

Looking ahead, Carrefour said it remains committed to investing in local communities, strengthening supply chains and expanding retail access as it enters its next decade in Kenya. The immediate milestone for customers will be the conclusion of the anniversary campaign on 11 June.

Carrefour, operated in Kenya by Majid Al Futtaim, is marking 10 years in the country, citing expansion to 34 stores, over 3,000 direct jobs and a supply chain that is 99% locally sourced. The retailer has also launched a customer appreciation campaign running from 22 May to 11 June with rewards valued at more than KES 20 million, according to a company statement.

National Bank of Kenya posts 275% jump in Q1 2026 profit to KES 1.03 billion

National Bank of Kenya posts 275% jump in Q1 2026 profit to KES 1.03 billion

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National Bank of Kenya (NBK) reported a 275% increase in profit after tax to KES 1.03 billion for the first quarter ended March 31, 2026, up from KES 275.7 million a year earlier, driven by higher net interest income and a steep decline in loan loss provisions, according to a press release dated May 21, 2026.

The lender said net interest income rose to KES 2.84 billion from KES 2.4 billion in Q1 2025, attributing the increase to “disciplined asset pricing and improved funding efficiency.” Non-interest income was KES 664.3 million, which NBK said reflected performance in fees and commissions despite a competitive environment.

NBK maintained operating expenses at KES 2.1 billion in the quarter, citing cost management and operational efficiency initiatives. The most significant swing factor was credit impairment: the bank said loan loss provisions declined 92% to KES 50 million from KES 618 million in the prior-year period, which it attributed to reduced non-performing loans, improved recoveries and enhanced credit quality.

On the balance sheet, NBK said total assets increased to KES 145.3 billion, up from KES 141.1 billion in December 2025. Customer deposits stood at KES 106.7 billion, which the bank said provided a stable funding base. Net loans and advances rose to KES 57.0 billion from KES 51.0 billion in December 2025.

The results come as Kenya’s banking sector continues to contend with credit risk management, competition for low-cost deposits and a shifting interest rate environment. For NBK, the sharp decline in provisions suggests an improving risk profile, while growth in loans and advances indicates an expansion of credit to households and businesses.

NBK Managing Director George Odhiambo said the bank’s start to the year was supported by operational measures and customer activity. “We have started off the year on a strong footing, driven by customer confidence, cost management and operations efficiency initiatives,” Odhiambo said. “We are reinventing ourselves in the market to come out stronger, and I am confident that by the end of the year, we will be at a higher level.”

Odhiambo added that the lender would continue to widen its offering. “Our focus is to continue serving our customers, exploring more business opportunities and expanding our product and service offering to better serve the market,” he said.

Industry watchers typically view a combination of rising net interest income and falling impairment charges as a signal of improved asset quality and pricing discipline, but the sustainability of earnings gains often depends on how long credit costs remain low and whether loan growth is funded without increasing funding costs. NBK’s deposits level and stable operating expenses may provide support if competition for deposits intensifies across the sector.

Looking ahead, NBK said it would focus on “delivering sustainable growth” while strengthening digital capabilities and maintaining disciplined risk management. The bank also referenced ongoing “integration processes within Access Bank PLC,” reflecting its position as a subsidiary of Access Bank Plc.

National Bank of Kenya (NBK) said profit after tax rose 275% to KES 1.03 billion for the quarter ended March 31, 2026, supported by higher net interest income and sharply lower credit impairment charges. The bank also reported growth in assets, deposits and net loans and advances, according to its May 21, 2026 statement.

Safaricom commits KES 114 million to 2026 Rhino Charge conservation drive

Safaricom commits KES 114 million to 2026 Rhino Charge conservation drive

4 min read

Safaricom Plc and the M-PESA Foundation have committed KES 114 million to support the 2026 Rhino Charge Challenge scheduled for Saturday, May 30, in Samburu, with the bulk of the funding earmarked for Rhino Ark Kenya Charitable Trust’s conservation work, according to a company press release issued in May 2026.

Safaricom said KES 94 million of the total will be channelled through the M-PESA Foundation to support Rhino Ark activities, including fencing and protection of Mount Elgon Forest (Suam Block) and restoration efforts in the Mau Forest Complex across Narok, Kericho and Bomet counties. The company said the support will also extend to the Mount Kenya Forest Rehabilitation and Protection Project in Tharaka Nithi County.

The remaining KES 20 million will be provided by Safaricom Plc to support participation by three entry cars and to provide connectivity during the event. Safaricom said KES 17 million of its allocation will support Car No. 44 led by Adil Khawaja, the EV Explorers team led by Richard Kiplagat, and the all-ladies team Zambarau Heels on the Wheel led by Agnes Mwangi. The balance of KES 3 million will be used for network connectivity during the competition.

Speaking during a cheque handover ceremony at Safaricom headquarters in Nairobi, Safaricom CEO Peter Ndegwa linked the sponsorship to the company’s sustainability priorities. “This year, we are proud to commit KES 114 million through the M-PESA Foundation and Safaricom. As a company, sustainability remains central to how we create long-term value for our customers, communities, and the environment. Our support for the Rhino Charge reflects our commitment to practical conservation efforts that protect Kenya’s natural heritage while driving innovation and resilience,” Mr Ndegwa said, according to the press release.

Safaricom said the connectivity support will include deployment of 5G at the event site to improve communications for participants and spectators.

Under the team support allocation, Safaricom said Car No. 44 will receive KES 15 million, while EV Explorers and Zambarau Heels on the Wheel will each receive KES 1 million.

The Rhino Charge is an annual off-road 4×4 competition that raises funds for Rhino Ark Kenya Charitable Trust, which focuses on conservation and protection of Kenya’s mountain ecosystems—often referred to as “water towers.” The event’s fundraising model has become a significant funding stream for conservation infrastructure, particularly electric fencing that aims to reduce human-wildlife conflict and protect key catchment areas.

Safaricom’s announcement comes as corporates continue to increase visibility around climate adaptation and water-tower protection, issues that have direct economic implications for Kenya’s agriculture, hydropower generation, and tourism value chains. Funding directed to fencing and rehabilitation can also influence local livelihoods by reducing crop losses and security risks associated with wildlife incursions, while enabling more predictable land use around protected areas.

Participants also framed the support as enabling greater competitiveness and representation. “As Team Zambarau, we are grateful for Safaricom’s support… This support not only empowers our team but also reinforces our shared mission of advancing conservation and protecting Kenya’s natural heritage through the Rhino Ark Kenya Charitable Trust,” said Elizabeth Wanjiku, a team member at Zambarau Heels on the Wheel, according to the statement.

Richard Kiplagat, team lead for EV Explorers, said the sponsorship will support the team’s second consecutive year in the competition. “As the only EV team in the competition, we are highly motivated not only to complete the challenge but also to emerge among the best, building on lessons from last year’s mechanical challenges as we champion the future of electric mobility and environmental conservation,” Mr Kiplagat said.

Safaricom cited Rhino Charge’s 2025 fundraising performance as a benchmark for the scale of giving the event attracts. According to the press release, the 2025 edition in Saimo Soi, Baringo County, raised KES 269.5 million. Safaricom said Adil Khawaja was the top fundraiser for the third consecutive year after raising KES 139.8 million, followed by Car No. 23 led by Peter Kinyua at KES 13.5 million and Car No. 63 led by Tim Carstens at KES 8.6 million.

Looking ahead to the 2026 event, Safaricom said the 37th edition is expected to attract 55 entries, including the 2025 overall winners Team Huzi (Car No. 33) and Team Zambarau. Separately, Rhino Ark Executive Director Christian Lambrechts said preparations were ongoing and projected higher participation. “This year’s preparations for the Rhino Charge Challenge are in full swing, and we expect a total of 65 entries to take part in the challenge and fundraising effort,” Mr Lambrechts said, according to the statement.

Safaricom and the M-PESA Foundation have committed KES 114 million to support the 2026 Rhino Charge Challenge set for May 30 in Samburu. The funding will go to Rhino Ark conservation projects—including fencing and forest restoration—alongside event connectivity and support for three competing teams.

Safaricom-backed Mohit Mediratta targets second PGK Equator Tour win in Thika

Safaricom-backed Mohit Mediratta targets second PGK Equator Tour win in Thika

3 min read

Sigona Golf Club’s Mohit Mediratta will seek to extend his early lead in the second edition of the PGK Equator Tour when the series moves to Thika Sports Club for its second leg running from Thursday, May 21 to Sunday, May 24, 2026, organisers said in a statement issued in Nairobi on May 21.

Mediratta, who is backed by Safaricom, enters the Thika event after winning the opening leg held in April at Vet Lab Sports Club, where his victory included a hole-in-one, according to the press release.

The tournament at the par-72 Thika Sports Club is expected to draw more than 50 professional golfers competing for overall honours as well as a corporate category title, the statement said.

The series matters for Kenya’s professional golf pipeline because, according to the organisers, the PGK Equator Tour acts as a competitive platform linked to international ambitions, including a pathway “on the road to the 2028 Olympic Games in Los Angeles.” The tour also serves as a pre-qualifier for Kenyan professionals targeting slots at the Magical Kenya Open, the country’s flagship international golf event.

Speaking during a training session ahead of the Thika leg, Mediratta said he expected tougher competition as he tries to defend his standing at the top of the leaderboard.

“I am keen to continue with the strong performance as we head to the second leg of the PGK Tour this week. The pressure is there, but I am looking forward to the challenge. As part of the corporate team supported by Safaricom, I am hopeful that we will retain the top corporate title,” Mediratta said.

Safaricom said other players under its backing who will be competing in Thika include Mutahi Kibugu, Samuel Njoroge and Matthew Wahome.

For Safaricom, the sponsorship links the listed telecommunications firm to a sports property that runs through the 2026/2027 season and reaches multiple venues, offering recurring brand exposure and stakeholder engagement opportunities across Kenya’s golf circuit. In the statement, Safaricom also outlined its business footprint, saying it serves 71.6 million customers across Kenya and Ethiopia and reported annual revenues of KES 400 billion as at March 2026. The company further stated that its total economic value was estimated at KES 1.1 trillion (US$8.5 billion) for the 12 months through March 2025.

The broader industry implication is that structured domestic tours can strengthen athlete development and deepen the sports events economy—supporting club venues, hospitality, logistics and related services in host towns such as Thika. A consistent calendar also provides playing opportunities for professionals who rely on competitive rounds to build form and ranking points ahead of higher-profile events.

According to the press release, the second edition of the PGK Equator Tour began in April 2026 and will run until February 2027, when the season will culminate in a grand finale. The Thika leg will be one of the key checkpoints in that schedule as players chase points, prize positions and qualification opportunities tied to the Magical Kenya Open pathway.

Sigona Golf Club’s Mohit Mediratta will headline the second leg of the PGK Equator Tour at Thika Sports Club from May 21 to May 24 after winning the opening event in April at Vet Lab Sports Club. Safaricom said the tour forms part of Kenya’s competitive pathway for professionals targeting the Magical Kenya Open and longer-term Olympic qualification.