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Safaricom CEO says Treasury set share price as MPs raise control fears

Business

Safaricom CEO says Treasury set share price as MPs raise control fears

Safaricom CEO Peter Ndegwa told MPs that Treasury would need to explain how the final figure was reached, adding that his understanding was that the valuation relied on Safaricom’s average trading price over the past six months, which he said best reflects the value of a listed company.

By Maureen Kinyanjui 20 Jan 2026

Government reshuffles Consolidated Bank board ahead of sale

Business

Government reshuffles Consolidated Bank board ahead of sale

The board shake-up comes shortly after the bank reported a profit for the first time in over ten years, largely attributed to cost-cutting efforts. For the six months ended June 2025, Consolidated Bank posted a profit after tax of Sh12 million, reversing a loss of Sh84 million in the same period last year. The bank had consistently reported losses since March 2016.

By Maureen Kinyanjui 10 Oct 2025

Vehicles being auctioned at a yard. PHOTO/KRA

Business

Kenya’s new vehicle sales jump 25% amid cheaper credit

Data from the Kenya Motor Industry Association (KMIA) shows that 8,914 zero-mileage vehicles were sold by the 11 main dealers between January and August, up from 7,120 units sold in the same peridealersod of 2024.

By Maureen Kinyanjui 26 Sep 2025