Kenyan Business Feed

Kenya has been ranked first globally in AI usage, with 97% of internet users aged 16 and above using AI, according to the Digital 2026 Mid-year Global Update Report. The UAE follows at 94%, while Indonesia ranks third at 93%.

Kenya plans to borrow about Sh39 billion from China through its first-ever Panda Bond. The government also plans to raise Sh105 billion through a Eurobond and more than Sh64 billion from Japan through Samurai financing in the 2026/27 financial year.

OPEC expects global oil demand to grow by 600,000 barrels per day by the end of 2026, down from its earlier forecast of 800,000 barrels per day. For 2027, oil demand is projected to increase by 2.2 million barrels per day.

Elon Musk’s Tesla plans to unveil its new high-speed electric sports car, the Roadster, this month, nearly a decade after it was first announced. The car could feature small gas-powered devices developed with SpaceX to provide additional power.

Jeff Bezos is now a part-owner of Liverpool FC after a consortium including the billionaire acquired a roughly 30% stake in the English football club from Fenway Sports Group.

CBK says Kenya’s inflation could rise to 8% if global oil prices average $110 per barrel amid a prolonged Middle East conflict. Kenya’s inflation currently stands at 6.5%.

Nation Media Group reported a Sh357 million net loss in the first half of 2026, up sharply from the Sh41.7 million loss recorded during the same period last year. The company attributed the weaker performance to lower print revenue, higher debt provisions and rising fuel costs.

Patients without SHA cover are reportedly being denied treatment at government hospitals, with some pregnant women allegedly being sent home. Efforts to enforce SHA should not prevent Kenyans from accessing essential healthcare.

HELB could be scrapped and replaced by a new Tertiary Education Funding Authority under a proposed Bill. The new body would oversee student loans, scholarships and other forms of tertiary education funding.

Kenya’s forex reserves fell by $3 million this week to $15.2 billion. Meanwhile, the Kenyan Shilling closed the week trading at Sh129.80 against the US dollar, according to @carrington_fx.

At least 20 Kenyans have died while in police custody between January and August 2026, according to the Independent Medico-Legal Unit.

The High Court has temporarily suspended the requirement for banks to seek Treasury approval before raising loan interest rates. The case will now await further directions from the Court of Appeal.

Kenya risks losing access to the U.S. market after being identified as a potential route for Chinese goods allegedly being rerouted to avoid U.S. tariffs. Kenya earns about Sh71 billion annually from exports to the U.S. under AGOA.

MPs have passed a Bill requiring roads to have dedicated lanes for cyclists and pedestrians. The Bill now awaits President William Ruto’s assent.

Kenyans could soon be charged for internet based on the amount of data they use under a proposal before Parliament. Internet providers warn the plan could raise costs and affect unlimited data packages.

Sanlam Allianz Kenya’s half-year profit fell 7.4% to Sh124.6 million in the six months ended June 2026. The decline was mainly attributed to lower investment returns and a weaker insurance service result.

Co-op Bank shares have hit a new all-time high of Sh39.50 for the first time in the bank’s history, following its strong half-year results. The rally has pushed the bank’s market valuation to a record Sh220 billion.

Jumia Kenya’s sales surged 84% to a record Sh6.4 billion in the three months ended June 2026, up from Sh3.5 billion a year earlier. The growth was driven by strong demand for fashion, beauty, home and living products.

Veteran NSE investor Paul Wanderi Ndungu has made a massive gain from his investment in Car & General. The stock has surged 885% in a year, rising from Sh26.40 to Sh285 per share. His stake is now worth Sh1.8 billion, up from Sh170 million, representing a gain of Sh1.7 billion.

An investment firm associated with Prime Cabinet Secretary Musalia Mudavadi is set to acquire majority stakes in Absa Life Assurance and First Assurance Kenya from South Africa’s Absa Group. The two transactions are valued at more than Sh3.8 billion.