AGP Executive Report
Last update: 3 hours agoCorporate Earnings: Safaricom’s half-year profit rose 72.8% to Sh50.3 billion, driven by growth in M-Pesa and data revenue as losses in Ethiopia narrowed. Startup Finance: The Nairobi International Financial Centre plans a Sh65 billion fund for Kenyan startups, with half earmarked for technology and AI businesses. Growth and Debt: The World Bank lifted Kenya’s 2026 growth forecast to 4.6%, but warned that corruption and governance gaps threaten jobs and investment as debt pressures mount. Business Pulse: Private-sector activity reached a 2026 high in October, though rising costs are pushing firms to raise prices. Industrial Policy: President William Ruto announced a new fund offering manufacturers single-digit loans to support industrial growth. Revenue Losses: Illicit cigarette sales cost Kenya an estimated Sh47 billion in excise duty and VAT between 2021 and 2025, with illicit products making up an estimated 45.1% of cigarette consumption last year.
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