Mwango Capital Channel

Fuel prices for Aug 15 to Sep 14, 2026: —Super Petrol & Kerosene unchanged at KES 214.03/litre & KES 191.38/litre respectively —Diesel: KES 217.86/litre, down KES 5.00 Petrol & kerosene prices unchanged through KES 938M in additional government stabilization support.

Vodacom is cementing its control of Safaricom following the June transaction that lifted its stake to 55%. Vodacom Group CFO Mariam Cassim and Chief Human Resources Officer Matimba Mbungela have joined Safaricom’s Board as Non-Executive Directors, with James Ludlow and Dr. John Kipngetich Mosonik resigning.

Absa Group has agreed to sell its entire 63.32% stake in both First Assurance Company and Absa Life Assurance Kenya to First Assurance Investments, an existing shareholder in First Assurance.

KCB Group’s subsidiaries outside KCB Bank Kenya contributed 29.6% of PBT in H1 2026, with combined PBT rising 10% YoY to KES 15.0B: —TMB remained the largest contributor at KES 6.0B (+7%), followed by BPR at KES 2.8B (+5%) and KCB Tanzania at KES 2.6B (+22%). —KCB Investment Bank PBT more than tripled to KES 503M (+227%), while KCB South Sudan rose 34% to KES 867M. —KCB Burundi and KCBIL were the laggards, with PBT falling 29% and 47% to KES 451M and KES 336M, respectively.

Parliament yesterday approved the Public Participation Bill, 2025. Link to Bill: parliament.go.ke/sites/default/… More info: standardmedia.co.ke/national/artic…

Car & General H1 2026 results [KES, YoY]: — Revenue: +30.0% to 15.64B — Gross profit: +39.5% to 2.96B (margin 18.9% vs 17.7%) — Operating expenses: +24.6% to 1.65B — Share of profit in associate: +382.3% to 2.04B — Finance costs: -21.7% to 573.7M — EBITDA: +131.8% to 3.56B — PBT: +281.5% to 2.88B — PAT: +308.8% to 2.60B — EPS: +306.8% to 32.26 — Interim DPS: 1.00 — Operating cashflow: +118.5% to 1.97B — Cash & cash equivalents: +254.1% to 674.5M — Total equity: +67.7% to 10.49B Summary: Car & General's H1 2026 Profit After Tax rose 308.8% YoY to KES 2.60B from KES 637.1M, driven by a 30% revenue increase (Kenya +40%, Uganda +35%, Tanzania +22%), a sharp jump in share of associate profit from Watu to KES 2.04B, and a 21.7% drop in finance costs.

Massive appetite for IFBs. —Kenya’s August infrastructure bond reopenings were 3.1x oversubscribed, attracting KES 460.4B in bids against KES 150B on offer. —The government accepted KES 312.0B, equivalent to 208% of the amount offered and 67.8% of bids received. —Accepted amounts were KES 112.6B, KES 105.5B and KES 93.9B across the three bonds at weighted average yields of 12.1960%, 12.6877% and 13.0520%, leaving KES 193.9B in net new borrowing after redemptions.

KCB Group rewards shareholders with a 50% hike in its H1 26 interim dividend to KES 3.00 per share, from KES 2.00 in 2025. Shareholders on the register at close of business on 2 September 2026 will be paid on or about 10 November 2026.

Today is the last day:

Kenya Power says variable renewable energy now accounts for 34% of Kenya’s energy mix at peak demand of 1,900MW and 36% during low-load demand of 1,200MW. KPLC says VRE capacity has risen above 20% versus a recommended 15% benchmark, requiring additional generation to manage intermittency and increasing the overall cost of power.

Old Mutual Holdings has moved to the High Court seeking confirmation of a shareholder-approved reduction of its share premium account, following a special resolution passed on 30 June 2026. The application, filed on 30 July, is scheduled for hearing on 15 October 2026.

Kenya’s CMA Approves New Investment Products and Market Intermediary Licences: —Kestrel Capital has been upgraded from a Stockbroker to a Broker-Dealer licence —Britam Asset Managers has been approved to launch the Britam Multi Asset Special Fund (KES) and Britam Enhanced Global Equities Special Fund (USD). —Zimele Asset Management has been approved to add USD money market and fixed income funds, a KES fixed income fund, an Education Plan and a Saving Plan. —Britam Asset Managers (Kenya) has also been approved to register the Green Investment Fund LLP, an Alternative Investment Fund targeting green and greening MSMEs in Kenya and the EAC. —Hass Crest Capital received a Fund Manager licence, Livonna Advisory Partners an Investment Adviser licence, and Liaison Wealth a Corporate Trustee licence.

We are live: https://x.com/i/spaces/1wxWjljmlWQJQ?s=20

Tonight on #MwangoSpaces, we dive into The Credit Bank Story with Charles Kibaaru, Chief Manager Operations & Branches, Credit Bank.

Victoria Commercial Bank Limited HY 2026 results (KES, YoY): — Net interest income: +24.2% to 1.64B — Non-interest income: +53.8% to 352.94M — Total operating income: +28.6% to 1.99B — PBT (Profit Before Tax): +33.1% to 646.55M — PAT (Profit After Tax): +50.1% to 539.95M — Total assets: +8.2% to 71.41B — Net Loans and advances: +8.1% to 44.82B — Customer deposits: +8.5% to 56.44B — Gross NPLs: +12.1% to 6.86B — Loan loss provisions: +52.6% to 290.00M — EPS: +31.9% to 11.32 — Core capital: +9.6% to 8.68B — Total capital: +7.3% to 10.96B

Consolidated Bank of Kenya Limited HY 2026 results (KES, YoY): — Net interest income: +33.9% to 738.15M — Non-interest income: +17.6% to 331.55M — Total operating income: +28.3% to 1.07B — PBT (Profit Before Tax): +759.9% to 186.15M — PAT (Profit After Tax): +1,349.5% to 174.83M — Total assets: +14.4% to 21.05B — Net Loans and advances: +4.3% to 8.44B — Customer deposits: +13.0% to 13.57B — Gross NPLs: +12.5% to 4.27B — Loan loss provisions: +23.5% to 199.85M

Suntra Investments H1 2026 results: — Total income up 43.0% to KES 27.8M, driven by higher brokerage commissions, while total expenses rose 8.4% to KES 17.2M, supporting operating leverage — PBT nearly tripled, up 195.9% to KES 10.6M, though PAT growth was muted to 62.1% at KES 7.92M by a KES 2.71M tax charge versus a KES 1.29M tax credit in H1 2025 — Total assets rose 5.5% to KES 176.1M, though shareholders' funds declined 6.8% to KES 90.6M