Qwetu hostels owner Acorn posts Sh1.5bn profit

Thursday, April 9, 2026

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“Despite prevailing macroeconomic headwinds, the ASA REITs have maintained stable operational performance, supported by good occupancy and continued focus on balance sheet management,” said Executive Director Mathew Maina. Acorn’s total student accommodation portfolio now stands at nearly 21,000 beds, while assets under management (AUM) across the two REITs grew by 11 percent to Sh29.3 billion. The firm said it will focus on expanding its income-generating portfolio in 2026 through acquisition of new assets, debt optimization, and improved operational efficiency.

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Qwetu hostels owner Acorn posts Sh1.5bn profit

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Sidian Bank Board Chair James Macharia said Thumbi leaves behind a strong legacy, having led a major transformation of the lender. “Mr. Thumbi has had a distinguished banking career spanning over three decades. During his tenure at Sidian Bank, he led a significant transformation of the business, including significantly growing the Bank’s Trade Finance portfolio, increasing the branch network to fifty branches and expanding digital banking and foreign exchange income streams,” Macharia said. He added that the bank strengthened its operations, improved customer experience, and achieved strong growth under Thumbi, culminating in its elevation to a Tier II bank in September 2025. In the year ended December 31, 2025, Sidian Bank posted a 502 percent jump in net profit to Sh1.73 billion. The growth was driven by higher interest and non-interest income, with net interest income rising by 54.4 percent to Sh4.4 billion, while non-interest income surged by nearly 129 percent to Sh3.8 billion.

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Sidian Bank taps KCB’s John Okulo as its CEO

Staff Writer - March 27, 2026

About 60 percent of investments will focus on climate adaptation, particularly climate-resilient agriculture and water management technologies, while 40 percent will go towards mitigation efforts such as renewable energy and energy efficiency. Through the facility, KCB will deploy flexible credit products, blended finance structures, and digital lending platforms to scale access to financing for underserved populations. “This is a bold step to scale climate finance. By targeting MSMEs and smallholder farmers, we are ensuring that no one is left behind in the transition to a climate-resilient future,” said Paul Russo. The funding comes as Kenya faces rising climate vulnerability, with over 80 percent of its land classified as arid and semi-arid. These regions frequently experience droughts and floods, causing economic losses estimated at about 3 percent of GDP annually. KCB has been ramping up its green financing efforts, having assessed loans worth Sh578.3 billion for environmental and social risks last year. This brings the cumulative total assessed since 2020 to over Sh1 trillion under its Environmental and Social Due Diligence framework. The bank also disbursed Sh50 billion in green loans in 2025, increasing its green portfolio share to 25.84 percent from 15 percent in 2023, with investments spanning energy transition, blue economy, e-mobility, and climate adaptation initiatives.

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KCB secures Sh12.5bn for SMEs-linked green financing

Staff Writer - March 27, 2026

With over 20 years of experience in the banking sector, Ngen’o holds a Bachelor of Commerce (Finance) degree from the University of Nairobi. In his new role, Ng’eno will be tasked with driving growth in the bank’s corporate banking segment, leveraging the Group’s scale and capabilities.

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KCB names Peter Ng’eno new Corporate Banking Director

Staff Writer - March 27, 2026

“The strong performance was supported by the increased frequency of government bond reopenings in the primary market, which boosted activity in the secondary market,” NSE said in a statement. The exchange also recorded a sharp rise in derivatives activity, with total contracts increasing by 698 percent from 6,683 to 53,333. Open interest peaked at 7,620 contracts valued at Sh27.9 million, up from 638 contracts valued at Sh20.5 million in 2024. This growth was driven by the listing of new contracts, including KPLC, LBTY, KEGN, BRIT and KNRE, as well as the introduction of a new market maker. The Board of Directors has recommended a first and final dividend of Sh1.00 per share, comprising an ordinary dividend of Sh0.73 and a special dividend of Sh0.27. The payout is set for July 31, 2026, to shareholders on record as of May 21, 2026.

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Co-op Bank increases dividend after recording Sh39.9bn net profit

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GoDaddy (www.GoDaddy.com), a global leader in empowering entrepreneurs, announced the expansion of its new Digital Ads feature with GoDaddy Airo® (https://GetStarted.GoDaddy/Africa) to nine new English-language markets including Ireland, Malaysia, New Zealand, Pakistan, Philippines, Singapore, South Africa and the United Arab Emirates. This AI-powered tool enables small business owners and entrepreneurs to create, launch, and manage professional Google Ad campaigns in minutes, without prior advertising expertise, directly addressing a key barrier to online visibility and customer acquisition. "Reaching new customers online is critical for growth, but creating effective ads has traditionally required significant time or resources many small businesses simply don’t have," said Selina Bieber, Vice President of International Markets at GoDaddy. "Airo Digital Ads now empowers entrepreneurs in these markets to compete more effectively. Our AI handles the technical complexities, like writing compelling ad copy and selecting high-performing search keywords, so they can focus on running their business and connecting with customers." Why Simplifying Digital Ads Matters GoDaddy’s 2025 Global Entrepreneurship Survey highlights the hurdles faced by entrepreneurs, with over one in three (37%) facing financial constraints limiting marketing investments, 23% struggling with technology complexity, and 40% citing work-life balance challenges from operational demands. Digital Ads leverages Airo’s advanced AI to transform ad creation from a daunting task into an effortless streamlined process. Instant Campaign Setup: Generate complete, professional Google Ad campaigns in minutes. Airo drafts persuasive ad copy, selects relevant keywords based on the business offering, and structures the campaign using industry best practices, eliminating the "blank page" problem. Zero Experience Required: Tailored specifically for those new to digital advertising, the intuitive dashboard guides users through the process without requiring a dedicated marketing team. Full Control & Customization: Users review, edit, and perfect every element before launch – headlines, descriptions, keywords, target audience, and budget. The AI provides a powerful starting point, but the business owner makes the final decisions. Integrated Management & Analytics: Launch campaigns and track detailed performance metrics (like clicks, impressions, and costs) all within the GoDaddy Digital Ads dashboard. No need to juggle multiple platforms or logins. Risk-Free Testing: Preview the complete ad exactly as it will appear on Google. Make unlimited adjustments. Campaigns only go live when the user is completely satisfied. AI Benefits for All Entrepreneurs Digital Ads effectively works as a plug-and-play solution to key challenges faced by various entrepreneurial segments. Small business owners new to digital ads gain a streamlined, cost-efficient entry point without agency overhead; busy entrepreneurs benefit from rapid campaign launch to drive traffic while juggling multiple priorities; and budget-conscious businesses garner professional results without the need to hire specialists to manage ads. Get started today at https://GetStarted.GoDaddy/Africa.

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The Diar Group in partnership with Staroot Real Estate, is pleased to announce a proposed collaboration to develop and operate Diani Residences by CityBlue, a landmark mixed-use residential and hospitality development in Diani Beach. The announcement will be unveiled at the Future Hospitality Summit Africa (www.FutureHospitality.com) taking place in Nairobi on 1 April 2026. Set on approximately five acres, the project is envisioned as a flagship lifestyle destination comprising between 400 and 500 contemporary residential units. The development will feature a thoughtfully curated mix of one-bedroom and two-bedroom apartments, designed to meet the evolving needs of both investors and end-users seeking high-quality coastal living experiences. The project will be branded under the Residences by CityBlue platform, leveraging the extensive experience of CityBlue in managing hospitality-led residential developments across Africa. Known for its operational excellence and performance-driven approach, Diani Residences by CityBlue is expected to be the benchmark for integrated living within Kenya’s coastal real estate market. The development will include multiple swimming pools, a fully equipped fitness centre, spa facilities, conferences and meeting spaces, children’s recreational areas, paddle courts, and curated food and beverage experiences. A signature restaurant concept will anchor the culinary offering, supported by flexible dining spaces designed to accommodate both casual and private dining experiences. Speaking on the proposed partnership, Jameel Verjee, Founder & CEO of CityBlue Hotels noted: “Diani continues to emerge as one of East Africa’s most attractive coastal destinations. This project represents an exciting opportunity to create a vibrant, hospitality-led residential community that delivers long-term value for investors while enhancing the destination’s global appeal.”

CityBlue Hotels Announces Launch of Diani Beach Residences by CityBlue

April 9, 2026

CityBlue Hotels, one of Africa’s fastest-growing hotel groups, has selected UK-based platform Inntelo AI to deploy AI-native concierge agents across its portfolio, marking a significant step in the group’s strategy to lead the next phase of hospitality innovation across the continent. The announcement will be unveiled at the Future Hospitality Summit Africa (www.FutureHospitality.com) taking place in Nairobi on 31 March 2026. The rollout represents one of the first scaled implementations of AI-native concierge agents in African hospitality, positioning CityBlue Hotels at the forefront of AI-driven transformation in the sector. Operating across Kenya, Rwanda, Tanzania and expected to open soon in Ghana, Uganda and Zambia, with additional strategic tie-ups in South Africa and Mozambique, CityBlue Hotels’ partnership with Inntelo AI comes amid continued growth in Africa’s tourism sector, supported by rising intra-African travel and increasing global demand for new destinations. As part of its broader digital strategy, CityBlue Hotels will deploy Inntelo AI’s platform to embed AI directly into hotel operations. The AI-native system coordinates guest interactions and service workflows in real time, enabling faster response times, improved task prioritisation, and consistent service delivery at scale, while allowing teams to focus on high-value, in-person guest engagement. The partnership also includes the development of educational programmes to advance skills, innovation, and AI adoption across Africa’s hospitality industry. Jameel Verjee, said: “CityBlue has always been focused on where our markets are going. As we scale, AI-native operations become essential to delivering consistency, speed, and quality across multiple geographies. “This partnership allows us to embed AI at the core of how we operate—supporting our teams in real time, reducing friction, and elevating the guest experience across every property. Just as importantly, we are shaping how AI is applied within an African context.” Asif Alidina, added: “CityBlue Hotels is exactly the kind of operator that defines where the industry is heading. Their focus on AI-native operations and scalable systems makes them a natural partner. “Together, we are deploying technology that is purpose-built for hospitality—combining conversational and agentic AI to support teams, enhance guest experiences, and set a new standard for modern hotel operations in Africa.”

Africa’s fastest-growing hotel group CityBlue Hotels selects Inntelo AI to deploy...

April 8, 2026

Mauritian listed business group ER Group (https://ERGroup.mu) has established a regional office in Nairobi, Kenya, and created a regional fund with equity partners to expand investment and partnerships across East Africa. The Group, created in 2025 through the merger of Mauritian business flagships ENL and Rogers, marks a new step in its regionalisation strategy by strengthening its presence in one of Africa’s most dynamic economic regions. Regional expansion is one of the pillars of ER Group’s ten-year strategy, set out earlier this year. In line with this roadmap, the Group, which is present in 17 territories worldwide, is accelerating its expansion in Africa through a measured approach focused on sectors it knows well. The priority is to grow in industries and countries the Group already operates, working with trusted partners to expand sustainably. Through this approach, ER Group aims to increase the contribution of international activities from around 15% of revenue today to 30% over the coming decade. East Africa has been identified as a priority region within this strategy, with Kenya, Tanzania, Zanzibar, Rwanda, and Uganda forming the first phase of expansion. To back this ambition, ER Group has created, together with equity partners, a regional fund of MUR 1 billion to accompany the expansion of its subsidiaries across Africa. The fund is designated to providing capital for growth, supporting selective investments and providing additional capacity to pursue opportunities in markets and sectors where the Group has established expertise. On the ground, ER Group has appointed Rasmus Bentzen as its regional representative in Nairobi. Bringing over a decade of experience in private equity and regional investment across East Africa, he will anchor the Group’s regional expansion agenda by identifying investment opportunities, developing strategic partnerships and supporting growth of its subsidiaries in Africa. Gilbert Espitalier-Noël, Group Chief Executive Officer of ER Group, said: “Regionalisation is a central part of our long-term strategy. We focus on markets where our businesses already have operational expertise and where partnerships can support sustainable growth. Establishing a regional office in Nairobi strengthens our ability to identify opportunities and support the expansion of our subsidiaries across East Africa.” As it accelerates its regional ambition, ER Group, one of Mauritius’s most profitable and diversified business groups, continues to combine strong financial performance with dedicated investment, giving it the capacity to support its expansion with discipline and long-term perspective. For the first half of FY26, the Group, listed on the Stock Exchange of Mauritius and included in its Sustainability index (SEMSI), reported: Revenue of MUR 23.2 billion ($492.7 million) EBITDA of MUR 6.4 billion ($135.9 million) Profit after tax of MUR 2.6 billion ($55.2 million) Operating margin of 26% Expected EBITDA FY26: MUR 12 billion ($254.8 million) The Nairobi presence, combined with the creation of dedicated regional investment capacity, marks the start of a more active phase of expansion for ER Group, building on its existing footprint and financial capacity to deepen partnerships and pursue opportunities across East Africa and the Indian Ocean region.

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Staff Writer

Qwetu hostels owner Acorn posts Sh1.5bn profit

I&M Group net profit up 24pc to Sh19.8bn

Sidian Bank taps KCB’s John Okulo as its CEO

KCB secures Sh12.5bn for SMEs-linked green financing

KCB names Peter Ng’eno new Corporate Banking Director

NSE profit jumps 134pc to Sh272.2mn

SBM launches app to teach children money skills

StanChart net profit down 38pc to Sh12.4bn

Equity Group profit after tax up 55pc to Sh75.5bn

Co-op Bank increases dividend after recording Sh39.9bn net profit

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