Hello, this is Jason. Welcome to today’s edition of The Business Roundup, where we bring you the latest updates on Kenya’s dynamic business landscape. In this edition, we dive into the newly launched time-based Safaricom data bundles, a fresh leadership shake-up at Stanbic Bank, and S&P’s decision to upgrade Kenya’s credit rating.
Kicking things off with some big telco news, telecommunications giant Safaricom has unveiled a new product dubbed BLive Data Bundle, a time-based internet package aimed at offering customers greater flexibility and value in their browsing experience.
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Safaricom’s new time-based data bundles
The product was officially launched on Wednesday, August 20, 2025, at the Michael Joseph Centre, Safaricom House. According to the telco, BLive is a response to direct customer feedback requesting a bundle solution that does not rely on fixed MBs or GBs.
What Puneet Pagare, Customer Value Management Lead at Safaricom PLC said:
“Customers told us they wanted bundles that allow them to browse without fear of running out of MBs or GBs. With BLive, you don’t have to worry about data volumes—you just buy the bundle and browse as much as possible within the set time.”
Unlike conventional bundles, BLive is entirely time-based, tailored for casual users, students, and heavy internet users alike. Validity options vary—from short to extended usage periods—depending on individual needs.
The bundles are accessible via USSD codes (*544#, *555#, *444#, *200#), the mySafaricom App, or the company’s website, and are available to both prepaid and postpaid customers.
Govt mulls splitting Safaricom into three units
Still on Safaricom, the Kenyan government is considering splitting the company into three separate entities: a telecommunications company, a tower operator, and M-Pesa, according to a report by Bloomberg News.
Treasury Cabinet Secretary John Mbadi said the move could bring “huge benefit,” with the proposal stemming from ongoing concerns over Safaricom’s market dominance in voice, data, and mobile money.
Mbadi also noted that the government— which owns 35% of Safaricom—is close to settling a Ksh75 billion tax dispute with the company.
Efforts to enforce a split date have been ongoing for several years. A 2021 parliamentary bill that sought to compel the separation of Safaricom’s mobile money arm failed to pass. A revived 2022 bill has rekindled the debate, but Safaricom maintains that splitting its business would add no value to shareholders.
S&P upgrades Kenya’s sovereign credit rating
Switching gears to fiscal matters, S&P Global Ratings has upgraded Kenya’s long-term sovereign credit rating to ‘B’ from ‘B-’, citing improved external liquidity and strong foreign exchange reserves. The outlook remains stable.
The rating agency pointed to robust export performance—especially from coffee—and continued diaspora remittances, which helped shrink Kenya’s current account deficit to 1.3% of GDP in 2024, down from 2.6% the previous year.
Foreign reserves surged to $11.2 billion in July 2025, nearly double the $6.6 billion held at the end of 2023. The $1.5 billion Eurobond deal in February, which included a partial buyback of 2027 notes, reduced near-term repayments to just $108 million annually through 2027.
Domestically, interest rates have eased following a 350-basis-point cut by the Central Bank of Kenya (CBK) since August 2024. T-bill yields fell from a peak of 16% to 8%, easing borrowing costs and unlocking space for private sector credit.
However, S&P also flagged ongoing fiscal vulnerabilities, including a 5.5% of GDP budget deficit and high interest payments—roughly one-third of government revenue. The recent exit from IMF concessional lending has pushed the government toward more expensive debt, like the $500 million UAE loan at 8.25%.
S&P stated that a future upgrade would depend on “clear evidence of fiscal discipline,” while renewed external pressure or distressed debt could trigger a downgrade.
Stanbic Bank appoints Joshua Oigara as new Regional Chief Executive
In other news, Stanbic Bank has announced that Dr. Joshua Oigara will assume the role of Regional Chief Executive, East Africa for the Standard Bank Group starting September 1, 2025. He will also retain his role as CEO of Stanbic Bank Kenya.
On the other hand, Francis Karuhanga, CEO of Stanbic Uganda Holdings, has been appointed Regional Chief Executive for South and Central Africa, effective Sept 1, 2025.
Dr. Oigara replaces Patrick Mweheire, who will step down as RCE at the end of August after five years, but will continue as Chief Executive of Stanbic Kenya Holdings.
A seasoned banker, the new Stanbic Bank RCE was the CEO of KCB Group for nearly a decade. He holds an MBA in International Business Management from Edith Cowan University, a Bachelor of Commerce from the University of Nairobi, and is a graduate of the INSEAD Advanced Management Programme.
The leadership transition follows Stanbic’s announcement of a 9.3% drop in net profit for H1 2025, falling to Ksh6.54 billion, attributed to rising operational costs.
Also big this week
- Kenya secured a grant and $169 billion loan deal from Japan after President William Ruto’s visit. The Head of State also announced that Japanese companies have started recruiting Kenyans to work in Japan.
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Longhorn Publishers’ Board of Directors has announced the resignation of its Chief Executive Officer (CEO), who has led the company for the past seven years.
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Kenya is in talks with China to convert a $ 5 billion Standard Gauge Railway loan from U.S. dollars to yuan.
- The United States has suspended most visa services in Zimbabwe until further notice.
- Kenya Railways has finished the Ksh4.2 billion Mombasa Commuter Rail Service, connecting the Miritini SGR terminus to Mombasa’s central station via a 16.6km upgraded line and a 2.3km bridge across Makupa Causeway.
- WPP Scangroup PLC has announced that shareholders will not receive an interim dividend after the company posted a 16 per cent drop in profit before tax for the half year ended June 30, 2025.
- The Retirement Benefits Authority has amended trustee term limits under new regulations. Trustees will now serve a maximum of 5 years per term, renewable once, raising the limit to 9 years.
- Nairobi Upperhill Hotel, a popular establishment in the city, has been placed under receivership by the National Bank of Kenya (NBK).
- Etihad Airways will triple its Nairobi flights by December 2025, expanding from four to 14 weekly services and adding 1,600 seats a week.
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Knight Frank Research has published the Kenya Market Update for the first half of 2025 which reveals Nairobi’s most expensive estates and why.
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The Central Bank of Kenya (CBK) is now capable of real-time monitoring of customer transactions across the banking sector, following a system upgrade.
- Umeme Limited has announced the exit of four members from its Board of Directors.
- The National Youth Opportunities Towards Advancement Project (NYOTA) has selected 110,000 Kenyan youths to receive Ksh50,000 each to boost their businesses.
- CFAO Mobility Kenya clarified the liquidation and restructuring of D.T. Dobie.
- The COMESA Competition Commission has opened an inquiry into the proposed acquisition of two planes currently leased in Kenya, in a deal involving Dubai Aerospace Enterprise (DAE) Ltd and Azorra Aviation Holdings, LLC.
- CBK has accepted Ksh179.77 billion in a tap sale of two infrastructure bonds, far exceeding its initial Ksh50 billion target.
- The United Kingdom has agreed to pay Ksh520 million (about $4 million) in compensation to thousands of Kenyans affected by a 2021 forest fire caused during military training in Laikipia County.
- Energy and Petroleum Regulatory Authority (EPRA) Director General Daniel Kiptoo announced that the government plans to introduce maximum retail prices for cooking gas from October to protect consumers from volatile market rates.
- The Higher Education Loans Board (HELB) has announced that it has abolished the funding model that grouped students into bands.
- Kenya and the U.S. have committed to begin negotiations on a reciprocal trade agreement after talks in Washington between Trade CS Lee Kinyanjui and USTR Ambassador Jamieson Greer.
Currency trends
According to CBK, the Kenya Shilling remained stable against major international and regional currencies during the week ending August 21, 2025. It exchanged at Ksh129.24 per United States Dollar on August 21, unchanged from August 14.
Against other major currencies, the shilling on August 22 traded at:
- Sterling Pound – Ksh173.0899
- Euro – Ksh149.7300
- South African Rand – 7.2854
- Japanese Yen (100 units) – Ksh86.9331
Against regional currencies, the shilling exchanged at:
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- Uganda Shilling – Ksh27.5845
- Tanzania Shilling – Ksh19.3827
- Rwanda Franc – Ksh11.2074
Global trends
CBK also said that inflation concerns remained elevated during the week ending August 21. International oil prices increased during the week, following rising geopolitical tensions with the possibility of tighter sanctions on Russia. Murban crude stood at USD 68.65 per barrel on August 21 from USD 66.97 on August 14.
On the other hand, Kenya’s usable forex reserves dropped to $11.04 billion as of August 21 from $11.11 billion the previous week, equivalent to 4.8 months of import cover. The reserves remain above the CBK’s statutory minimum of 4 months.
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