Hello, I’m Janeffer. Welcome to today’s edition of The Business Roundup. In this edition, our leading stories are:
- David Ndii and Kiprono Kittony Appointed to New Kenya Airways Board
- Boost to Ruto as Kenya Pipeline IPO is Oversubscribed
- Kenyan Subscribers Hit as MultiChoice Discontinues Showmax
- No Loan Talks as IMF Concludes Visit to Kenya
- Kenya Addresses Looming Fuel Shortage and Price Hike Amid Middle East Crisis
Major This Week
Kenya Airways Leadership Changes
The long-anticipated shake-up at Kenya Airways Plc (KQ) is here! The airline has appointed four new members to its Board of Directors, including economist David Ndii and NSE Board Chairman Kiprono Kittony.
Ndii joins the KQ board as a non-executive director, while Kittony takes the helm as chairman and independent non-executive director. The board also appointed Chris Diaz and Winnie Iminza Nyamute, both named independent non-executive directors.
Background of KQ overhaul
The board overhaul follows the exits of former Board Chair Michael Joseph (June 2025) and CEO Allan Kilavuka (December 2025). The double exit left leadership gaps at the airline at a time when the government was seeking a strategic investor.
Kiprono Kitonny’s CV
| Occupation | Business Leader |
| Education | Bachelor of Commerce (Business Administration)- UoN
Bachelor of Law (Hons)- UoN Diploma of Law – Kenya School of Law Global Executive MBA-USIU |
| Current role | Chairman of the Nairobi Securities Exchange (NSE) |
| Past roles | Chairman- Kenya National Chamber of Commerce (KNCCI) |
| Business Interest | Co-founder of Radio Africa Group
Horticulture export Beer distribution |
Boost to Ruto as Kenya Pipeline IPO is Oversubscribed
The Kenya Pipeline Company (KPC) released the results of its Initial Public Offer (IPO). According to the results, the IPO was oversubscribed at 105% despite initial jitters over the KSh9 price set.
Here is a breakdown of the results:
Key Takeaway
- The KPC IPO attracted applications for 12,486,787,724 shares against 11,812,644,350 shares on offer, translating to an overall subscription rate of 105.7%.
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No Loan Talks as IMF Concludes Visit to Kenya
And in other news, the International Monetary Fund (IMF) staff concluded their tour in Kenya on March 5, without discussing a new support programme.
IMF mission team leader to Kenya, Haimanot Teferra, said the discussions focused on recent macroeconomic and policy developments as well as key risks facing the economy, including potential spillovers from developments in the Middle East.
The CS for the National Treasury, John Mbadi, told Reuters on March 4 that discussions with the IMF had not yet resulted in a deal.
“IMF was not coming for any deal. They are coming for engagement,” he said.
Kenyan Subscribers Hit as MultiChoice Discontinues Showmax
Meanwhile, in news that’s turning heads, Showmax subscribers in Kenya have something to watch closely.
MultiChoice Group announced that it will discontinue the streaming platform following a “comprehensive review” of the service.
But for now, subscribers can relax, as the company has assured them there will be no interruption to current services, and they can continue streaming as usual without taking any action.
The company has not yet revealed an exact shutdown date.
Also Read: David Ndii and Kiprono Kittony Appointed to New Kenya Airways Board
Kenya Addresses Looming Fuel Shortage and Price Hike Amid Middle East Crisis
Let’s turn to the global stage. On March 3, Cabinet Secretary for Energy and Petroleum, Opiyo Wandayi, reassured Kenyans that the country has sufficient petroleum supplies, even as tensions in the Middle East continue to escalate.
“In light of the escalating tensions in the Middle East region where our petroleum products supply is sourced, the Ministry of Energy and Petroleum has reviewed the supply and stock situation,” read part of the statement.
“As at today, the country has sufficient stocks to cover both the country and the region.”
However, global oil prices continue to rise daily.
Summary Standard Chartered Brent crude forecast as of March 3, 2026:
| Period | Previous Forecast ($/bbl) | Revised Forecast ($/bbl) | Notes / Risks |
|---|---|---|---|
| Q1 2026 | 62 | 74 | Upside risk if Middle East conflict escalates |
| Q2 2026 | 63 | 67 | Potential production disruptions from Iran/region |
| Full-year 2026 | 63.50 | 70 | Prices could rise further if conflict worsens |
Also Read: Boost to Ruto as Kenya Pipeline IPO is Oversubscribed
ALSO, BIG THIS WEEK
- The Kenyan private sector saw employment numbers rise in February 2026, continuing a trend that began in February 2025, according to the latest Stanbic Bank Purchasing Managers’ Index (PMI).
- The Kenya Tea Development Agency Holdings Limited (KTDA) confirmed that Enos Njeru has been elected as Chairman, while Eng. Samson Mosonik Menjo will now serve as Vice Chairman.
- The Kenya Airports Authority (KAA) confirmed that there are no ongoing discussions with the Adani Group or any of its affiliates regarding the JKIA modernisation and expansion project.
- British American Tobacco Kenya plc (BAT) appointed Sidney Wafula and Catherine Chepkonga as new executives.
Currency Trends
The Kenya Shilling remained stable against major international and regional currencies during the week ending March 5, 2026.
It exchanged at Ksh129.02 per U.S. dollar on February 26, the same as on February 20.
Against other major currencies, the shilling traded at:
- Sterling Pound – Ksh174.34
- Euro – Ksh151.94
- South African Rand – 8.12
- Japanese Yen (100 units) – Ksh82.35
Against regional currencies, the shilling exchanged at:
- Ugandan Shilling – Ksh27.84, Tanzanian Shilling – Ksh19.84, Rwandan Franc – Ksh11.29
Before we wrap up this week’s Business Roundup, remember:
“Success is often achieved by those who don’t know that failure is inevitable.” – Coco Chanel, founder of Chanel
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