Access Holdings has announced the resignation of Roosevelt Ogbonna shortly after the group acquired the National Bank of Kenya (NBK) from KCB Group. The acquisition, costing approximately US$100 million, is a milestone in the East African panorama of the Access Bank. Analysts indicate that the loss of Ogbonna will not stifle integration of NBK into Access Holdings.

A high-level workshop held at Nairobi’s Jamia Mosque focused on Somalia’s plans to increase its participation in the global halal economy. The forum hosted diplomats, scholars, and businesspeople and focused on forging cross-border relationships in halal certification, food exports, and Islamic financing. Organizers suggested that the halal industry would be able to exceed US$5.9 trillion globally by 2033.

Poa Internet, a Nairobi-based internet firm, has secured US$4 million in the form of debt financing by Finnish development financier Finnfund. The investment will assist the firm in rolling out low-cost broadband to underserved neighborhoods and rural areas in Kenya. Management reports that affordable access to the internet is essential to propel education, the expansion of small businesses, and digital inclusion.

President William Ruto declared August 27 as Katiba Day to be observed annually in commemoration of the adoption of the 2010 Constitution. Katiba Day was celebrated publicly in Kenya and among the diaspora, with official messages and events organized by various government departments and missions. There is still debate over whether it is a national holiday or a commemorative day.

Safaricom hosted an Innovation Day titled ‘Powering What’s Next:  AI, resilience and Sustainable Innovation’, targeting large Kenyan enterprises. The event, which was headed by the Enterprise Business Unit, is a move to present Safaricom as a wider tech partner than a connectivity provider. Demos and enterprise case studies were featured in local tech outlets.

Kenya has secured up to ¥25 billion (about USD 169 million) in Samurai bond financing from Japan. The money is intended to support local assembly and manufacturing of parts. The funds will also help reduce electricity transmission and distribution losses, which currently account for roughly 23% of national output. This funding is within the larger scope of Kenya to decrease the cost of borrowing by accessing the markets of yen-denominated debts.

Two new Scottish varieties of potato, namely Malaika and Glen, have been permitted for use in Kenya. They were developed to be resistant to potato cyst nematode (PCN), but are also designed to satisfy the low-dormancy and quick cooking preferences of local farmers. The project improves food security and introduces research-to-farm adoption at scale.

S&P Global has upgraded Kenya’s long-term sovereign rating from B- to B following improvements in exports and high levels of diaspora remittances. The 2025 growth is anticipated to be 5.6, higher than the governmental forecasts. The future is also considered to be stable, although there are difficulties with fiscal consolidation.

Kenya Re has reported that its half-year profit has increased by 50 percent to KSh 1.58bn driven by higher investment income, reduced operating costs, and a decrease in foreign exchange losses by a significant margin. The reinsurer also reported improved underwriting, with overall results benefiting from a steadier Kenyan shilling.