Crown Paints Profits Up

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Crown Paints Profits Up

Staff Writer - June 9, 2021

Crown Paints Kenya net earnings improved to Ksh 599.5 Million at the close of the financial year ending 31st December 2020 from Ksh 323...

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The government of Kenya is seeking into intra-Africa tourism opportunities within the African Continental Free Trade Area (AfCFTA) to unlock the sector's projected Ksh 1 trillion contributions to the economy by end of 2027. Speaking during the opening ceremony of the 15th edition of the Magical Kenya Travel Expo (MKTE) at Uhuru Gardens. Deputy President of Kenya, Kithure Kindiki noted that while Kenya leads its East Africa counterparts on visitor arrivals, the country must leverage continental integration to achieve double-digit growth seen in Asian and European markets. "Tourism is a critical anchor of Kenya's economy and a pillar of our Bottom-up Economic Transformation Agenda (BETA). With Africa emerging as one of the strongest-performing regions in global tourism recovery, we must capitalize on AfCFTA opportunities. The tourism sector must become a critical interlocutor in transport, logistics, trade, investments and MSME sectors, driving synergized policy outcomes." Kindiki stated. According to the World Tourism and Travel Council (WTTC). Kenya's tourism sector is set to contribute a record Ksh 1.2 trillion to the economy, equivalent to more than 7% of national Gross Domestic Product (GDP). The sector is also expected to support 1.7 million jobs in 2025, maintaining over 8% of total national employment. The DP outlined government's infrastructure investments to support the growth of the sector, including the Nairobi-Nakuru-Mau Summit Highway, Lamu Port development. SGR expansion and new direct flights from global hubs. He stressed the need to diversify beyond traditional offerings, citing emerging products like astro-tourism, desert safaris in Chalbi, and tech-tourism leveraging Kenya's "silicon savannah" reputation. "We must market the complete Kenya story-from our technological innovation to our athletic excellence, from the Cradle of Humankind to our forty vibrant communities," he added. Equally, Kindiki also stressed the importance of sustainability, linking the government's tree planting initiative to eco-tourism enhancement, while ensuring tourism benefits reach grassroots communities. The expo has drawn over 6,500 delegates from 40 countries, including 400 exhibitors and 200 international buyers with the opportunity to explore how strategic investments and collaborative frameworks can contribute to the African tourism ecosystem which presents unprecedented growth potential. Tourism and Wildlife CS Rebecca Miano hailed the expo's evolution into a continental platform noting its critical role in accelerating investment flows for infrastructure development which directly supports Kenya's tourism target of 5.5 million visitors by 2027. "Infrastructure development through public-private partnerships remains our cornerstone strategy. By leveraging private sector expertise and government support, we are building world-class facilities that enhance visitor experiences while creating sustainable employment for our communities across the tourism value chain." Miano emphasized. On her part, Director of Trade in Services, Investment and Digital Trade AfCFTA Secretariat, Emily Mburu, highlighted the strategic importance of strategic tourism partnerships, particularly for advancing continental market integration. "Tourism shows how AfCFTA works in practice, public-private frameworks attract Foreign Direct Invest (FDI), build world-class infrastructure and create employment across borders. When tourists move seamlessly across Africa, they activate supply chains, stimulate trade and prove that integration delivers immediate, tangible benefits to African economies," he noted. The expo's focus on intra-African partnerships comes at an opportune time, given Africa's growing contribution to Kenya's tourism earnings. Africa was the leading source of tourist arrivals in 2024, accounting for 40.8% of international visitors. This year's Magical Kenya Travel Expo will incorporate digital matchmaking technology which facilitates pre-scheduled B2B meetings between buyers and sellers, maximizing business outcomes. It will also feature five-day familiarization trips, integrated marketing campaigns and dedicated sessions on creative economy integration within tourism.

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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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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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Crown Paints Profits Up

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