Khusoko | East African Markets

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[Khusoko | East African Markets @khusoko]

.@khusoko is your trusted source for unbiased, in-depth business news and expert market analysis across East Africa.

If you're serious about growth, this is essential reading.

​Empower your business insights: https://t.co/fftWivJRKp
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[Khusoko | East African Markets @khusoko]

No timeline or capital commitment yet. But if Stanbic moves, it becomes the first major African bank to enter Ethiopia this way.
https://t.co/EeNq9Az63G

[Khusoko | East African Markets @khusoko]

🧵 @StanbicKE wants into Ethiopia and it's considering building a bank from scratch to own 100% of it. Here's why that matters.
Ethiopia opened its banking sector to foreign investors in 2024. But there's a catch: foreign buyers are capped at 49% ownership through acquisitions. Build your own bank from scratch, and that cap doesn't apply.
https://t.co/YPIXtiMvHZ

[Khusoko | East African Markets @khusoko]

KCB, Equity, and Co-op Bank have all looked at Ethiopia and held back. A minority stake with no majority control over strategy is a hard sell. Absa said it won't enter until the rules ease. Stanbic is taking a different route.

Regional CEO Joshua Oigara points to Safaricom: years of losses, then progress. His view — "when you look at things from a 10-year perspective, you are likely to end up wishing you had even done more investment."

[Khusoko | East African Markets @khusoko]

The MPC sided with the hold. But revised Kenya's 2026 growth forecast down to 4.9% from 5.5% in February. The next meeting is August. A cut, hold, or hike all remain on the table. https://t.co/XRuzNkR1fl

[Khusoko | East African Markets @khusoko]

🧵 Kenya's @CBKKenya held the Central Bank Rate at 8.75% on Tuesday. Inflation is at 6.7%. The PMI is contracting. And analysts disagreed, sharply. Here's what you need to know.

Inflation hit 6.7% in May 2026 — highest since early 2024. Matatu fares up 25%. Diesel up 18.4%. Non-core inflation at 16.0%. All of it traced back to one source: the Middle East conflict and its knock-on effect on global oil and supply chains. https://t.co/ZJpZqw3utR

[Khusoko | East African Markets @khusoko]

The @KenyaBankers 's research centre called for a rate hike before the meeting, warning that second-round inflation effects were building and that the CBK needed to act to anchor expectations before price pressure spread.
@NCBABankKenya disagreed. Core inflation still contained at 3.2%. Shilling stable. Private sector already under pressure, PMI at 46.6, employment falling for the first time in 16 months. A hike, NCBA said, would deepen the slowdown.

[NSE PLC @NSE_PLC]

❗Important Notice❗
Shri Krishna Overseas Plc – Appointment of Company Secretary.

[Sidian Bank @SidianBank]

#TriviaTuesday 💡​
In Kenya, when a customer says "Nipee change" after paying, what do they usually mean?​

A) Give me coins only​
B) Give me my balance​
C) Give me a discount​
Drop your answer below! 👇😊​
#TriviaTuesday #BusinessTalk #SidianBank #FinancialLiteracy

[Khusoko | East African Markets @khusoko]

WPP Scangroup AGM results are in.

99% of independent shareholders voted to remove the board.

WPP Plc's 243 million share block voted against every resolution. The board stays.

Of 306.7 million total shares voted, 63.5 million were independent. More than 99% of those backed change. WPP overruled them all.

@bharatthakrar after the vote: "WPP did not defeat a divided minority. It overruled a near-unanimous one."

The numbers behind the vote: KSh3.3bn in losses, revenue down from KSh7bn to KSh2bn, share price off 62% while the NSE rose 84%, no dividend in five years and a KSh1.2bn loan to the parent at 5%.

Goldman Sachs put a "sell" on @WPP in London last week.
https://t.co/uVa05ULmJB

[Khusoko | East African Markets @khusoko]

Kenya has revived its $1.6 billion health deal with the United States — months after a court freeze brought it to a halt.
The partnership is back on track. What changed, what it covers, and what it means for Kenya's health sector is all in the story.
https://t.co/2IxHduM27f

[Khusoko | East African Markets @khusoko]

KRA has opened a one-time window for businesses to declare expenses without eTIMS invoices.

If your business has expenses from 2025 that were not captured on eTIMS, this is the window to sort them out before the income tax returns deadline closes.
https://t.co/vO0lQulriQ

[Khusoko | East African Markets @khusoko]

Mombasa Port is getting a KSh19 billion berth upgrade and the timing is not accidental.
Cargo volumes at the port keep climbing. The new berth is being built to keep pace with that demand, and the construction is now visibly taking shape.
https://t.co/F7MoBGQBDX

[Khusoko | East African Markets @khusoko]

WPP Plc used its 243 million share block to defeat every board change resolution at the @WPP Scangroup AGM, overruling 99% of independent shareholders who voted for change. @bharatthakrar - “This was never about the math. It was about holding those who manage other people’s money accountable. That work continues.” https://t.co/uVa05ULmJB

[Bharat Thakrar @bharatthakrar]

We "lost" the WPP Scangroup vote today. But strip out WPP's own 56.26% block, and more than 99% of independent shareholders voted to remove the board. WPP didn't defeat a divided minority — it overruled a near-unanimous one. 👇 #WPPScangroup @WPP

[Khusoko | East African Markets @khusoko]

Construction of Berth 19B at the Port of Mombasa is underway, with work 30 percent complete. The Ksh 19 billion project will add 300,000 TEUs of annual capacity once finished. @Kenya_Ports https://t.co/F7MoBGQBDX

[Khusoko | East African Markets @khusoko]

KRA allows businesses to declare expenses without eTIMS invoices when filing 2025 income tax returns, but the grace period ends after June 30, 2026. Here is what you need to know. https://t.co/vO0lQulriQ

[Ministry of ICT&NG @MoICT_Ug]

Uganda has been ranked the 24th most competitive Business Process Outsourcing (BPO) destination globally out of 193 countries in the 2026 Global Outsourcing Talent Index.

This recognition validates Uganda's growing competitiveness, skilled workforce, strong English proficiency, and commitment to digital transformation.

Full report: https://t.co/Rj8Ycox5sq

[William Samoei Ruto, PhD @WilliamsRuto]

Africa is the opportunity of this century, with the resources, talent, and potential to drive global growth. And if Africa is the opportunity, Kenya is the gateway, offering access to Africa’s 1.4 billion people and key global markets.

Addressed the Kenya–Belgium Business Forum in Brussels, where we championed a new Africa-Europe partnership founded on sovereign equality, mutual benefit, and shared prosperity.

We showcased investment opportunities in agribusiness, logistics, technology, clean energy, and the circular economy, and invited Belgian and Benelux businesses to partner with Kenya in value addition, manufacturing, innovation, and sustainable industrialisation.

I also officiated the launch of the Kenya–Benelux Chamber of Commerce, a permanent bridge connecting Kenyan enterprise with the investors, innovators, and markets of Belgium, the Netherlands, and Luxembourg.

Africa is the opportunity. Kenya is the gateway. Let us build stronger partnerships that expand trade, create jobs, and unlock shared prosperity for our peoples.

[William Samoei Ruto, PhD @WilliamsRuto]

We welcome €102 million (approximately KSh 15.3 billion) in new investments under the EU-Kenya Digital Partnership to accelerate digital transformation, expand connectivity and create opportunities for our youth and businesses. We also welcome €37 million in EU support for the Blue Raman submarine cable’s Africa extension connecting Djibouti, Somalia, Kenya and Tanzania, which will strengthen connectivity, lower bandwidth costs and reinforce Kenya’s position as a leading regional digital hub.

Held productive talks with Executive Vice-President of the European Commission, Henna Virkkunen, on deepening cooperation between Kenya and the European Union in trade, innovation and the digital economy.

We reviewed the implementation of the EU-Kenya Economic Partnership Agreement (EPA), under which Kenya’s exports to the European Union have grown by more than 20 per cent since its entry into force, creating jobs and expanding opportunities for our farmers and manufacturers.

We also welcomed progress under the EU-Kenya Digital Partnership, particularly on the Digital Dialogue and the Data Adequacy process, which will strengthen digital trade, attract investment and enhance Kenya’s position as a leading digital hub and the world’s 11th-ranked Business Process Outsourcing (BPO) destination.

Our partnership with the European Union continues to unlock investment, drive innovation and advance shared prosperity.

[Yogii @BernardMutati]

@khusoko I'm not sure that's the best move for Tanzania. Have they seen how that's worked out for other countries? I think it would be smarter to focus on partnerships with countries like the US who will actually bring in American businesses to create jobs and investment in Kenya