ABSA BANK KENYA PLC RECORDS Kshs. 5.3 BILLION PROFIT AFTER TAX AS TOTAL ASSETS SURGE by 10% to Kshs. 571 BILLION

 

Performance highlights:

· Profit before tax of Kshs. 7.5 billion for the period ended 31 March 2026

· Total assets grew by 10% to Kshs. 571.3 billion

· Customer deposits increased by 8% to Kshs. 399.1 billion

· Return on equity of 20.3%, one of the leading across the industry

· Capital and liquidity ratios remained strong, with capital adequacy at 21% and liquidity reserves at 53.2%

 

 Absa Bank Kenya PLC has reported a profit after tax of Kshs. 5.3 billion and delivered Return on Equity of 20.3% for the quarter ending March 31, 2026, reinforcing its unwavering focus to supporting customers while investing in long-term resilience amidst constraints in the operating environment.

Through continued investment in customer-centric innovation, prudent risk management, and disciplined cost control, Absa strengthened its position as a trusted partner, helping customers navigate uncertainty while laying the foundation for sustainable growth.

During the period, customer deposits increased by 8% to Kshs. 399.1 billion, while customer loans and advances closed at Kshs. 303.8 billion, as the Bank scaled efforts to empower the financial dreams of individuals, households and businesses. Total assets grew by 10% to Kshs. 571.3 billion, underscoring the strength of the balance sheet.

Speaking about the financial results, Absa Bank Kenya PLC Managing Director and CEO, Abdi Mohamed, said: “It has been a demanding period for our customers and the broader economy, but our focus has been on standing alongside those we serve. While our performance reflects these pressures, our actions are guided by a long-term view, supporting our customers today while safeguarding the strength of our business for the future.”

 

During the period under review, the Bank recorded total revenue of Kshs. 14.7 billion, through disciplined cost-of-funds management, reflecting the impact of a lower interest rate environment. Against the backdrop of shifting market dynamics, net interest income closed at Kshs. 10.4 billion, while non-interest income closed at Kshs. 4.3 billion for the quarter ending 31 March 2026. Notably, the Bank continued to accelerate its revenue diversification agenda, with total income from subsidiaries growing by 25% year-on-year.

 

“Underpinned by our purpose of “Empowering Africa’s tomorrow, together, one story at a time, this set of results illustrates the strength of our franchise and the deliberate execution of our strategy in a dynamic market. As we continue to transform, our focus is firmly on deepening customer relationships, accelerating innovation, and delivering sustainable value for our stakeholders,” said Mr. Mohamed.

 

The Bank’s strategy continues to deliver measurable commercial momentum while strengthening its competitive position across the franchise. In Private and Personal Banking, Absa scaled its high-net-worth wealth offering and continued to innovate with a leading platinum card proposition, contributing to its recognition as Best Retail Bank Kenya 2026.

 

In Business Banking, Absa accelerated its anchor ecosystem client acquisition, improving access to working capital for its MSME customers through the “WEZESHA” value-chain financing programme, digital merchant’s payment solution “Lipa na Absa”, business credit card solutions, among others. The Bank continued to invest in material enhancements in its propositions, including the strengthening of its Asset-Based Finance (ABF) proposition that was re-launched in April 2026.

In Corporate Banking, the Bank consolidated its leadership position, ranking first in East Africa for M&A by deal value and underscoring the strength of its sector coverage model and bespoke mandates. The Global Markets unit also continued to innovate, introducing new currency pairs, expanding non-funded income, and diversifying earnings.

Absa continues to invest in brand and stakeholder initiatives that directly support business growth and deepen market relevance. Flagship platforms such as the Magical Kenya Open, Absa Sirikwa Classic, and Absa Kip Keino Classic remain integral to strengthening customer engagement and reinforcing the Bank’s presence across key ecosystems. These initiatives, alongside ongoing partnerships, continue to enhance connection with customers and stakeholders while supporting commercial momentum.

Building on this, the Bank remains committed to advancing sustainable and inclusive growth. The Absa Kenya Foundation launched the CirculaRising programme, supporting more than 2,000 women- and youth-led MSMEs in the circular economy with capacity to impact more than 30,000 livelihoods. We also delivered flagship events, including the Magical Kenya Open, Absa Sirikwa Classic, and Absa Kip Keino Classic, deepening stakeholder engagement and strengthening our connection with the communities we serve.

“We continue to bring our purpose to life through the way we serve our customers and communities. As we look ahead, we are accelerating investments in digital capabilities, customer experience, and strategic partnerships to build a more agile, efficient, and future-ready organisation positioned to deliver sustainable growth,” added Mr. Mohamed.

CCBA IN KENYA SUPPORTS 3,000 YOUTH WITH SKILLS AND ENTERPRISE DEVELOPMENT

Coca-Cola Beverages Africa (CCBA) in Kenya, in partnership with Emerging Leaders, is supporting more than 3,000 youth across the country through Uwezo Kwa Vijana (Skills for Youth), a six-month economic inclusion programme aimed at strengthening skills and enterprise readiness.

Launched in January 2026, the initiative is designed to empower individuals from vulnerable communities by equipping them with practical business skills, improving financial literacy, and exploring income-generating opportunities. This initiative is part of CCBA in Kenya’s broader economic inclusion efforts, which focus on enabling communities to transition from income uncertainty to more sustainable economic participation.

The programme uses a practical, action-oriented approach. Through the Lead Yourself module, participants undergo training focused on building confidence, resilience and leadership skills. The Lead Your Finances component provides practical financial literacy skills including budgeting, savings discipline and income planning, while Lead Your Project guides participants through identifying viable business ideas, developing action plans and identifying partnerships to launch their ventures.

In addition to classroom learning, participants are organised into small peer “hubs” that serve as support networks for knowledge sharing and mentorship. Regular “Café sessions” provide opportunities to review project progress, address challenges and foster collaboration.

The programme aims to reach 3,000 participants in 2026, with a strong emphasis on inclusion and equitable access to opportunity. Women make up 60% of participants, equivalent to 1,800 beneficiaries, while at least 5% of participants are persons with disabilities. 

More than half of participants are expected to pursue opportunities within retail, services and recycling sectors, contributing to local value chains while working to establish more reliable income streams. 

Commenting on the initiative, CCBA in Kenya’s Public Affairs, Communication and Sustainability Director, Eric Githua said the programme reflects the company’s approach to doing business the right way while working alongside communities.

“We are focused on supporting youth with practical skills that can help unlock economic opportunity,” said Githua. “By working with partners and communities, we aim to help enable pathways to income generation that create value for individuals, families and local economies over time.”

The programme has been implemented in Nairobi and Nakuru counties and is expected to expand to Makueni and Kisii counties.

Githua concludes that the programme reflects a growing recognition that private sector actors can play a catalytic role in addressing unemployment by investing in entrepreneurship ecosystems.

“Strengthened financial literacy and enterprise readiness will help to increase business opportunities and employment participation rates,” noted Githua.

TOP INSURANCE MISTAKES THAT KENYANS MAKE AND HOW TO AVOID THEM

By Ephraim Mutua

Conversations on long-term financial security often revolve around saving, budgeting, investing, or building wealth. However, one of the most important aspects of financial protection is normally overlooked. A road accident, a fire or other unexpected occurrences can undo years of hard work if a financial safety net is not established. The conversation is not simply whether people have insurance, but whether they have the right protection in place. It raises a difficult but necessary question: are Kenyans truly insured, or are many simply paying premiums without real protection?

Insurance is one of the most important financial safety nets you can have. While insurance uptake has steadily grown, having a policy is not enough on its own. There are still common mistakes that can leave you or your business exposed because you only discover the gaps when you need to make a claim. Understanding these common missteps can help you make more informed decisions and ensure your cover truly works for you when it matters most.

Choosing lowest premiums over value

One of the most common mistakes is choosing the lowest premium without fully considering the value of the cover. While a lower premium may seem cost effective at first, it often comes with reduced benefits, higher excesses, or important limitations. For instance, a motorist may opt for the cheapest cover available, only to realize after an accident that key repairs are not fully covered, leaving them to pay a significant amount out of pocket. This can be both frustrating and financially straining. A more effective approach is to assess what you are protecting and select a policy that adequately meets those needs, even if it means paying slightly more. The goal should be meaningful protection rather than short term savings.

Not reading the fine print (Exclusions)

Another frequent issue is failing to read and understand policy terms and exclusions. Many policyholders sign up for insurance without taking time to go through the details, only to encounter surprises during the claims process. A business owner may assume their policy covers all forms of loss, only to discover after an incident such as fire or theft that certain risks were excluded or subject to specific conditions they were not aware of. Exclusions, waiting periods, and specific conditions can significantly affect how and when a claim is paid. Taking time to review your policy documents and asking for clarification where needed helps you know exactly what is covered and prevents misunderstandings later on.

Underinsuring assets

Another widespread challenge is underinsuring your assets. Whether it is a vehicle, property, or business, insuring it below its actual value may reduce premiums but can result in significant financial loss during a claim. In the event of partial damage, compensation may be calculated proportionately, meaning you receive less than expected. Ensuring that your assets are valued correctly and insured for their true worth allows you to recover more fully when losses occur.

Failing to update policies

Many people also take out insurance and then forget about it, even as their lives and financial situations change. Over time, this can result in cover that no longer reflects current realities. For instance, a homeowner may insure their property and later carry out renovations, add new fittings, or acquire more valuable household items, yet the sum insured remains the same. In the event of damage or loss, the compensation may fall short of the actual value, leaving them to cover the difference. Regularly reviewing and updating your policy ensures that your cover keeps pace with changes and continues to offer adequate protection.

Making the right insurance decisions requires more than just purchasing a policy. It calls for a clear understanding of your cover, regular reviews to keep it aligned with your needs, and a proactive approach when it comes to managing risks and handling claims. By avoiding common mistakes and staying informed, you are better positioned to protect what matters most and to avoid unexpected financial setbacks.

The writer is the Ag. Senior Branch Manager at Kenya Orient Insurance Limited.

GLOBAL OIL PRICES REASON FOR HIGH FUEL COST NOW SAYS RULLING PARTY

The rulling party united democratic alliance (UDA) has issued a statement on the rising cost of fuel attributed to the US IRAN war which has increased shipping rates and caused longer maritime routes impacting the price of landing cost for the fuel.

The G to G arrangement has provided cushion to Kenyans, reduction of the VAT rate,and stabilization fund are among some of the key things the government had done to ensure the prices of fuel remain stable according to secretary general of UDA Hassan Omar alongside Interministerial engagements by the ministry of transport and energy.

Criminal activities,looting and arsons attack by criminal elements during the protest will be delt with accordingly.Omar has urged Kenyans not to be incited by opposition leaders against fuel prices saying the price of fuel is not in the hands of Kenyans but global market prices.

2.7 Billion released last night to bring down the cost of diesel by 10 shillings to retail at 232 shillings per liter, government now says the prices cannot go down further as the matatu operators want.

WHERE CONFLICT ONCE LIVED, AGREEMENTS NOW HOLD

Across the arid and semi arid lands of northern Kenya, a quiet transformation is underway. In regions once marked by cyclical conflict over pasture and water, a new culture of dialogue is taking root. Supported by systems from the Northern Rangelands Trust (NRT), communities that once clashed are now negotiating, coordinating, and building shared agreements before tensions can escalate.

For decades, life in northern Kenya has been defined by the search for resources. Pastoralist communities depend on access to grazing land and water points to sustain their livestock, which are the backbone of both culture and economy. But climate variability, prolonged droughts, and population growth have intensified competition.

Historically, that competition often turned violent. Disputes over grazing corridors, livestock movement, and access to boreholes disrupted livelihoods, displaced families, and fractured long-standing relationships between neighboring ethnic groups and conservancies. Retaliatory raids and mistrust became part of the landscape.

Today  a different approach is taking hold. Through peacebuilding systems supported by NRT, the focus has shifted from reaction to prevention. The model is built around regular, structured dialogue.“Peace is something that communities build,” says Josephine Ekiru, an NRT Peace Ambassador. “When people sit together and talk, they begin to understand each other.”

The process is deliberately straightforward but disciplined. NRT helps facilitate and strengthen local dialogue platforms that bring together elders, youth, women, and local leaders from different communities. These forums are not one off meetings.They are recurring across community owned spaces where issues are raised early planned livestock movements, dry season grazing agreements, water point schedules, and responses to isolated incidents of theft.

The goal is to address friction points before they escalate into conflict. By agreeing on rules of access and setting up communication channels between communities, rumors and misunderstandings are defused quickly.The impact is already visible across NRT member conservancies.Communities now map out wet and dry season grazing blocks together. This reduces unplanned incursions into another community’s territory, a major historic trigger for conflict.

 

Committees negotiate timetables for water points, ensuring herders from multiple groups can water livestock without confrontation. When livestock theft occurs, the dialogue networks are used to verify facts and recover animals peacefully, rather than defaulting to retaliatory raids with regular contacts rebuilt trust among Youths who once saw each other as rivals but now sit and reason together.