Hello, I’m Janeffer. Welcome to today’s edition of The Business Roundup. In this edition, we focus on these four top stories:
- Huge Payouts to Equity Group Shareholders
- World Bank Debars PwC Firms in Kenya and Rwanda Over Fraudulent Projects
- Isuzu East Africa Deal with Associated Motors Ends After 50 Years: What It Means for Customers
- Shipping Charges Soar Amid Middle East Tensions
Major This Week:
Huge Payouts to Equity Group Shareholders
Investors and shareholders of Equity Group Holdings will be smiling as they pocket hefty dividends.
The Group reported a 55% growth in its profit after tax to KSh75.5 billion, driven by its strategic transformation. The Group approved a KSh5.75 per share payout—a 35.3% increase from the KSh16 billion or KSh4.25 per share in 2024.
Equity Group Managing Director and CEO James Mwangi attributed the strong performance to the group’s strategic transformation, driven by diversified revenue streams.
What he said:
“The 2025 performance reflects the success of our deliberate transformation into a diversified, regional financial services group. We delivered strong profit growth by expanding and deepening our income streams, improving efficiency across the franchise, and strengthening the quality of our balance sheet.”
Equity Group Payout Compared to Other Kenyan Banks:
| Bank / Group | Dividend per Share (KES) for 2025 |
|---|---|
| Equity Group | 5.75 |
| KCB Group | 7.00 |
| Absa Bank Kenya | 2.05 |
| Standard Chartered | 23.00 |
| Stanbic Holdings PLC | 22.35 |
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Why World Bank Debarred PwC Firms in Kenya and Rwanda
And in other news, the World Bank has debarred three PwC entities for 21 months, with conditional release for PwC Associates Africa Ltd. (Mauritius), PwC Kenya, and PwC Rwanda.
The decision follows findings of collusive and fraudulent practices in Ethiopia’s Eastern Electricity Highway Project, part of the First Phase of the Eastern Africa Power Integration Program.
The multilateral lender said the firms improperly obtained confidential procurement information to influence the award of a 2019 consultancy contract to implement International Financial Reporting Standards at the Ethiopian Electric Power Corporation.
Isuzu East Africa Deal with Associated Motors Ends After 50 Years
Isuzu East Africa has ended its nearly five-decade-long partnership with Associated Motors Limited.
On March 19, Isuzu East Africa confirmed that Associated Motors Limited will no longer serve as its dealer, ending a partnership that lasted nearly five decades.
Customers previously served by Associated Motors will now be transitioned to Isuzu East Africa’s existing dealer network.
Hard Times for Kenyan Businesses As Shipping Prices Soar
And in not-so-good news for Kenyan businesses: shipping costs have surged sharply, with charter fees jumping from around $100,000 to $400,000 and, in some cases, insurance premiums doubling amid heightened risks.
Currently, over 3,200 vessels are stranded at the Strait of Hormuz, representing about 20 percent of global oil and cargo shipments.
According to Nicholas Ngahu, Chief Executive Officer of the Kenya Meat and Livestock Exporters, current exports are running at less than 15 percent of their normal levels.
“We are doing below 15% of our normal exports, and now that it’s Ramadan, we are doing less than 5% of what we are supposed to be doing,” Ngahu said.
Exporters of tea and coffee to the Middle East have also been left in limbo as they search for alternative markets.
Also Read: Dividend Payouts Declared by Equity Group and Other Kenyan Banks After Huge Profits [LIST]
ALSO, BIG THIS WEEK
- Britam Holdings PLC has announced the death of its board chairman, Kuria Muchiru, following a short illness
- Old Mutual Holdings PLC confirmed that Craig Aitchison resigned as an Executive Director
- The Kenya Revenue Authority (KRA) has recovered Ksh452.5 million after uncovering a scheme involving irregular cargo clearance and revenue accounting.
- The gig economy in Kenya has been valued at $1.03 billion and employs approximately 1.55 million workers.
- President William Ruto said expanding the Standard Gauge Railway (SGR) is key to boosting jobs, improving road safety, and keeping Kenya competitive in regional trade.
Also Read: Isuzu East Africa Deal with Associated Motors Ends After 50 Years: What It Means for Customers
Currency Trends
The Kenya Shilling remained stable against major international and regional currencies during the week ending March 19, 2026.
It exchanged at Ksh129.52 per U.S. dollar on March 19.
Against other major currencies, the shilling traded at:
- Sterling Pound – Ksh172.59
- Euro – Ksh149.96
- South African Rand – 7.69
- Japanese Yen (100 units) – Ksh81.20
Against regional currencies, the shilling exchanged at:
- Ugandan Shilling – Ksh29.09, Tanzanian Shilling – Ksh20.11, Rwandan Franc – Ksh11.26
Quote of the week
Before we wrap up this week’s Business Roundup, have you ever suffered a setback? Remember:
“It’s not whether you get knocked down, it’s whether you get up.” – Vince Lombardi
