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The Competition Authority of Kenya (CAK) approved Zenith Bank PLC’s acquisition of 100% of Paramount Bank Limited, allowing the Nigerian lender to enter Kenya’s banking sector. CAK set a condition that Zenith must retain all 78 Paramount Bank employees for at least 12 months. The authority said the transaction will not reduce competition and will improve Paramount Bank’s capital strength and long-term compliance with regulatory requirements.
Kenya launched the sale of a 65% stake in Kenya Pipeline Company through a KSh106 billion initial public offering, the largest privatisation in the country’s history. The IPO opened on January 19 and closes on February 19, with shares priced at KSh9 each. Structured as a fully digital offer, it allows investors to apply via USSD or an online portal. KPC will list on the Nairobi Securities Exchange on March 9, 2026.
The Kenya Revenue Authority and the Kenya Ports Authority have launched joint reforms to decongest the Port of Mombasa, cut cargo dwell time, and speed up clearance. Announced in Mombasa, the measures include expanded pre-arrival processing, evacuation of long-stay cargo to CFSs, increased SGR cargo evacuation, multi-vendor cargo tracking seals, and greater use of Lamu Port. The reforms aim to strengthen Kenya’s regional logistics competitiveness.
The Kenya Revenue Authority temporarily suspended the filing of nil tax returns until the end of March as part of efforts to convert non-filers into active taxpayers. Deputy Commissioner Patience Njau said the pause will allow KRA to validate taxpayer data and audit income, withholding tax, eTIMS, and customs records. The authority said the move aims to widen the tax base, improve compliance, and reduce overreliance on a small pool of consistent taxpayers.
Kenya’s diaspora remittances surpassed $5 billion in 2025, reaching $5.04 billion, according to the Central Bank of Kenya. While the milestone reinforced remittances as the country’s largest source of foreign exchange, annual growth slowed to 1.9%, the weakest in more than 15 years. CBK cited softer labor market conditions in the United States and higher living costs abroad, while noting inflows remain vital for household consumption, foreign exchange stability, and economic resilience.
The Kenya Sugar Board (KSB) has sought to calm fears of rising sugar prices, saying national supply remains secure despite production challenges. The board said sugar output fell to 613,000 metric tonnes in 2025, meeting 61% of demand, due to dry weather and sector reforms. It added that government safeguards are in place to stabilize prices, with production expected to recover in early 2026 as milling resumes and cane harvests increase.
