Kenya Re Profits Soar to Reach Kes3.5B

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Kenya Re Profits Soar to Reach Kes3.5B

Special Correspondent - March 30, 2018

Kenya Reinsurance Corporation (Kenya Re) has posted an 8.8 per cent rise in after-tax profit in the year ended December, which the listed re-insurer...

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Sinotruk, known for its affordable quality trucks in the tipper and prime mover segments, is expanding its offerings by introducing light and medium duty vehicles aimed at strengthening its market dominance across the segment. The trucks which include the Sinotruck H2 (light duty) and H3 (medium duty) models are set to revolutionize the transportation industry. These models offer higher payload capacities and larger fuel tanks, reducing the need for frequent refueling and enabling longer hauls, which translates to overall fuel cost savings. Additionally, they are affordable with higher horsepower, delivering strong performance, with enhanced driver comfort and additional features such as air suspension seats and sleeper cabins. With proven reliability and long-term durability, these trucks stand out as leading options in the light and medium-duty truck categories. Speaking during the launch ceremony, Sinotruk General Manager, Mr. Sarfraz Premji said, “Investing in Sinotruck by CFAO for our customers means that they will be getting a truck that delivers everything that matters for their business, which is more power, efficiency, durability, comfort and supported by a trusted aftersales network across the country. The launch of these models will cater for both the last-mile delivery and the heavy load delivery in addition to long haulage.” The Sinotruck H2 light duty truck can carry a higher payload, provide drivers comfort and be fuel efficient. It is equipped with a 160-horesepower engine, a fuel tank capacity of 120 liters and a full air braking system. The vehicle is suitable for transporters, bakeries, FMCG distributors, flour millers’ wholesalers, exporters, manufacturers among others. On the other hand, the Sinotruck H3 medium duty truck can carry a bigger load capacity by having a reinforced double chassis which provides greater strength and rigidity that can operate in highly challenging environments. It also caters for the drivers’ comfort, especially for long-distance haulage and its ideal for sand harvesting, water bowsers, hardware stores, contractors, horticulture, construction among others. CFAO Mobility Managing Director, Arvinder Reel commented, “Transport and logistics costs in Kenya remain relatively high, driven largely by rising maintenance and fuel expenses leading to shrinking profit margins for businesses. Today, we deliver an unmatched value proposition as these trucks will deliver the best value in higher return on investment for your business.” “CFAO Mobility has consistently demonstrated a customer-centric approach by actively listening to feedback and delivering innovative solutions. This initiative aligns with both companies’ commitment to affordability, operational excellence, and improved service accessibility and customers can take advantage of its extensive branch network for spare parts and reliable after-sales support countrywide,” he added. CFAO Mobility, in partnership with Equity Bank, is making truck ownership more accessible to customers by offering up to 90% financing, a 60-month repayment period, a 60-day moratorium, and working capital of up to KShs 1 million. In addition, to further enhance value, the first 200 customers will receive a 1-year or 50,000 km free service package, underscoring CFAO Mobility’s strong after-sales commitment. Customers will also benefit from free driving training, ensuring the motorists are well-equipped to operate the vehicles safely and efficiently. Recently, Sinotruk International and Kenya Vehicle Manufacturers (KVM) signed a Memorandum of Understanding that marked the beginning of a strategic collaboration aimed at boosting the local assembly of Sinotruk vehicles in Kenya. The move is to significantly reduce delivery times, improve product availability, and enhance aftersales support for customers across Kenya.

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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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Kenya Re Profits Soar to Reach Kes3.5B

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