Category: Business Daily

A smaller loss in Ethiopia and M-Pesa’s double-digit growth helped Safaricom report a 36.9 percent jump in profits, making the Kenyan unit the first to cross the Sh100 billion mark in earnings.

The telecoms operator’s net profit grew to Sh95.6 billion from Sh69.79billion the previous year, allowing it to increase its total dividend payout to Sh80 billion.

The Kenya business continued to be the main profit driver, powered by M-Pesa, the firm’s largest unit, which is on course to generate half of the profits.

The profit for the Kenyan unit alone stood at Sh118.3 billion, while its revenues also crossed the Sh400 billion mark for the first time.

Safaricom reported loss in Ethiopia dropped by 35 percent compared to the previous financial year, which was heavily impacted by a depreciation of the birr currency.

The loss in Ethiopia that is attributed to Safaricom dropped to Sh21.2 billion from Sh36 billion in the same period a year earlier, translating to a gain of Sh14.8 billion.

The telecoms operator launched in Ethiopia in 2022 as the government there opened up the tightly controlled economy to foreign competition and is hoping its presence in Africa’s second most populous country will power future growth.

The higher profitability helped the telecoms operator raise its total dividend payout to Sh2 per share, adding a final Sh1.15 dividend to an interim payment of Sh0.85 earlier in 2026.

Shareholders will receive a combined payout of Sh80 billion, representing more than three-quarters of the telco’s earnings and the highest dividend payout by a Nairobi bourse-listed firm.

Safaricom’s share price rose 6.8 percent to Sh32.1 a piece, having gained 13.2 percent since the start of the year. Its diversification from the saturated voice and SMS business is paying off, with M-Pesa, mobile data and fixed internet emerging as sales drivers.

Safaricom’s revenue rose to Sh414.1 billion in the year to March, from Sh371.4 billion in the same period a year earlier, reflecting a 11.5 percent growth.

Revenue from mobile financial service M-Pesa rose 13.4 percent from Sh182.7 billion, accounting for 45.6 percent of Safaricom’s sales.

‘Monetisation of the M-Pesa ecosystem remains healthy with chargeable transactions growing by 11.5 percent year on year to 42.3 transactions per customer per month,’ said Dilip Pal, the Safaricom Plc chief finance officer.

The volume of zero-rated transactions, which include person-to-person payments below Sh100 and merchant payments under tills, fell slightly to 57.8 percent from 58.6 percent, even as the total transaction volumes rose by 25 percent.

The value of chargeable transactions was Sh30.5 trillion or 73.3 percent of Sh41.7 trillion in M-Pesa transactions in the 12 months.

This implies that Safaricom is now able to generate more revenue from its M-Pesa transactions.

‘Kadogo transactions accounted for 39 percent of consumer payments and 56.8 percent of business payments and grew 40 and 30 percent, respectively. This is how we align our business to our purpose by driving inclusion through affordability,’ said Mr Pal.

Safaricom is also ramping up its data business to offset stagnating mobile calls on increased investments in 4G and 5G networks, as voice saw a small revenue fall due to saturation and rivals like WhatsApp.

The voice business recorded a 1.3 percent gain in revenues to Sh81.8 billion, marking a big shift as mobile data for the first time overtook full-year sales from calls. The telco has in the past five years raced to convert millions of 2G and 3G users to 4G and some to 5G.

This has come through partnerships like the one with Google, where they are offering affordable smartphones, with customers paying as little as Sh20 a day for nine months.

The number of 4G and 5G devices on the network rose by 31.8 percent to 30.8 million from 23.4 million at the end of March 2025 while the average data usage per customer rose by 16.6 percent to 4.9GB per month.

Besides M-Pesa, data is one of Safaricom’s fastest-growing revenue lines, and it hopes that increased smartphone usage will boost it further.

Revenue from mobile data, where Safaricom has been aggressively fighting for market share, rose 14.4 percent to Sh83.3 billion, while fixed internet to homes and offices rose 12.2 percent to Sh20.2 billion. Revenues from SMS dropped 11.8 percent to Sh11 billion as messaging apps like WhatsApp continue to munch its market share.

The shifts in earnings reflect Safaricom’s alteration from a telecom firm to a technology and financial services company offering loans to insurance and unit trusts. Safaricom expects to make a profit in Ethiopia in the year ending March 2027.

‘The Ethiopia business has a clear trajectory towards break-even, supported by healthier industry dynamics,’ said Peter Ndegwa, Safaricom Plc chief executive officer.

Kenya’s digital finance story is often celebrated as a global benchmark for inclusion, and rightly so. Over the past decade, mobile money and digital financial services have brought millions into the formal financial fold.

According to the Central Bank of Kenya, over 80 percent of adults now have access to formal financial services, while data from the Communications Authority of Kenya shows mobile penetration exceeding 130 percent, with tens of millions of active mobile money accounts driving daily economic activity.

Insights from the Money March 2026 Report by Tala provide a timely reflection of the financial pressures facing Kenyan households today. While inclusion levels remain high, financial strain is intensifying.

Nearly 89 percent of consumers state that rising costs are affecting their household budgets, while 73 percent are cutting back on spending just to afford basic needs. At the same time, only 36 percent feel they are on track to meet their financial goals.

This is the gap we must now confront; the hiatus between being financially included, literate, and ultimately being financially secure. This is not a failure of the system but a signal of its next evolution.

The financial services sector should move beyond enabling transactions to enabling resilience. This means building systems that not only connect people to money but also support them in navigating economic shocks, adapting to change, and recovering with confidence.

Financial resilience is not just about access to funds in moments of need but about enabling individuals and businesses to recover, rebuild, and progress without compromising their long-term stability.

It requires solutions that go beyond short-term fixes and address the broader financial journeys of consumers. Resilience remains a defining characteristic of the Kenyan market.

Across the country, individuals and businesses continue to adapt in real time, adjusting spending patterns, diversifying income streams, and leveraging digital tools to navigate uncertainty.

One of the clearest signals of this shift is the changing role of credit. What was once a tool for growth is increasingly being used for survival. Nearly half of consumers are now borrowing to meet essential needs such as food, education, and daily living expenses. The report shows that 46 percent of consumers are supplementing their income through loans, with borrowing largely directed toward essentials such as food, education, and daily living.

This raises a critical question for the industry: Are we equipping consumers with the knowledge to use financial tools effectively or simply expanding access to them? Financial literacy can no longer be treated as a complementary initiative. It must become a core design principle of digital finance.

This means embedding education directly into financial services through transparent pricing, clear product structures, real-time usage insights, and tools that help consumers make better decisions in the moment. Encouragingly, parts of the ecosystem are already evolving in this direction.

For the ecosystem, the opportunity lies in scaling these value additions in a way that is responsible, inclusive, and aligned with the financial realities of consumers. Solutions must continue to reflect how people earn, spend, and manage money because in today’s environment, relevance is the true driver of impact.

he next chapter will not be defined by how many people are included in the system. It will be defined by how well that system helps people understand their financial choices, navigate uncertainty, and build more secure futures.

This is the shift from access, to literacy, to resilience, a shift that recognises financial inclusion not as an endpoint, but as a foundation. As industry leaders, we have a responsibility not just to connect people to financial systems, but to empower them to thrive within them.

Kenya has led before and can lead again, but the measure of success will not just be how money moves, but what that movement makes possible for individuals, businesses, and the economy.

The government plans to expand and toll the Mau Summit-Malaba highway, a move that will require motorists travelling to parts of Western Kenya to pay user fees for their entire journey from Nairobi.

This follows the launch of a pre-feasibility study aimed at upgrading the 243-kilometre highway, converting it into an access-controlled tolled road and expanding its capacity from two lanes to four, according to disclosures by the Public Private Partnership (PPP) Directorate.

With the section from Rironi to Mau Summit already being upgraded into a toll road, this means motorists using the route-including those travelling to Eldoret, Bungoma, Kitale and Busia-could be required to pay for the full trip.

The pre-feasibility study is being funded by the China-led Asian Infrastructure Investment Bank (AIIB). The Beijing-based lender has already procured the services of Canadian management consulting firm CPCS Transcom Limited as the transaction advisor. The study is reported to have commenced in November last year.

‘The strategic transport route is part of the Northern Corridor connecting western Kenya and Uganda and will complement the upstream Nairobi-Mau Summit highway already under construction,’ said the PPP Directorate in its latest disclosures.

‘The highway is also one of nine roads that constitute the Trans-African Highway Network, a continental development policy coordinated by the African Union,’ added the Directorate, a department under the National Treasury.

President William Ruto’s administration aims to upgrade the 175-kilometre stretch from Rironi to Mau Summit, as well as the Rironi-Maai Mahiu-Naivasha and Naivasha-Gilgil sections, under a PPP arrangement. Under this 30-year concession, private investors will charge motorists toll fees to recover their estimated Sh184 billion to Sh200 billion investment.

Toll fees for the Mau Summit-Malaba highway will be reported once the PPP project advances to the feasibility stage, a point when detailed traffic studies, cost estimates are finalised to determine viable tariff levels.

Plans to extend tolling to Malaba come despite concerns over the lack of a viable alternative route for motorists who wish to avoid user fees on the Nairobi-Nakuru-Mau Summit section, particularly daily commuters.

The contracting authority, the Kenya National Highway Authority (Kenha), is said to have already acquired the land for the expansion of the Mau Summit-Malaba highway.

The private investors that have so far been tapped include a consortium involving China Road and Bridge Corporation (CRBC), the National Social Security Fund and Shandong Hi-Speed.

The CRBC-led consortium, which had initially been awarded the entire contract before it was split, had proposed a base toll of Sh8 per kilometre for passenger cars in the first operational year, with tolls escalating by one percent annually. Higher tariffs would be set for heavier vehicle classes.

The highway passes through Eldoret, Webuye, Bungoma, Malaba and Turbo before terminating at the border town of Malaba, in Busia County.

Should the expansion of the highway get the green light, the transport node will become a beehive of construction activity.

Besides the ongoing expansion of the Nairobi-Nakuru-Mau Summit highway, plans to extend the Standard Gauge Railway from Naivasha to Malaba are also at an advanced stage.

Recently published budget documents have also revealed plans to rehabilitate the metre gauge railway to Malaba, signalling that the government does not intend to abandon the old line as it seeks to make the Northern Corridor more competitive.

‘The Northern Corridor is a key part of this road network and serves as one of East Africa’s busiest trade routes,’ said the Directorate.

‘This road links the Port of Mombasa to Uganda, Rwanda, South Sudan, and the DRC sees nearly 3000 daily trucks moving over 35 million tons of cargo annually.’

The AIIB, in which Kenya recently became a fully paid up member, had earlier invited bids for a consultant to conduct a pre-feasibility study on upgrading the 243-kilometre Mau Summit-Malaba Highway into an access-controlled, tolled, four-lane road-marking its maiden activity in Kenya’s projects scene.

AIIB, a multilateral lender founded in 2016 and now boasting 110-member states, finances sustainable infrastructure across developing regions. Kenya formally joined AIIB in September 2024, seeking more flexible concessional long-term funding beyond traditional lenders.

The consultant’s assignment includes reviewing Kenya’s PPP legal and institutional framework, developing delivery-model options and providing a technical outline detailing route alignment, cross-sections, key performance indicators, and tolling strategy.

The study will also compare the Mau Summit-Eldoret-Malaba and Mau Summit-Kericho-Kisumu-Busia-Malaba routes to determine the most economically viable option.

Other tasks include traffic and socio-economic analysis, cost and revenue projections, creation of a high-level financial model and environmental and social screening.

The consultant will further assess climate resilience, roadside services, electric vehicle charging and risk allocation, and conduct value-for-money tests, market sounding, and a roadmap towards full feasibility.

Under Kenya’s transport plan, PPPs are expected to deliver about 12 percent of total investment needs-approximately Sh1.94 trillion.

According to the Kenya National Highways Authority, most of the wayleave, or right-of-way, has already been secured, but the Mau Summit-Malaba segment lacks technical, financial, and environmental assessments-making this pre-feasibility exercise a top priority.

Dr Cavince Adhere, a scholar of international relations focusing on China-Africa relations, said the speed at which AIIB has moved to finance its first Kenyan project ‘shows why Kenya needs this kind of multilateral lender.’

‘It will help Kenya to speed up its infrastructure projects,’ he said, arguing that traditional US-backed institutions have slowed progress with excessive conditionalities. ‘AIIB adds to the basket of partners that have supported Kenya over the past decade.’

As part of China’s Belt and Road Initiative, the AIIB was designed to strengthen connectivity across Asia, Europe, and Africa through road, rail and power projects.

It also serves as a counterweight to US-dominated institutions like the International Monetary Fund and World Bank, both of which resisted Beijing’s push for greater influence within their governance structures.

Kenya’s expenditure on rice imports exceeded wheat for the first time in 2025 after the government opened a controversial duty-free import window to avert shortages, underscoring the country’s growing reliance on foreign supplies to meet rising demand.

The latest Economic Survey shows that Kenya’s rice import bill stood at Sh55.11 billion in 2025, overtaking the Sh41.73 billion spent on unmilled wheat and marking a historic reversal in the country’s cereal import profile.

The crossover in import spending was driven largely by a drop in wheat import costs following a decline in global prices. Kenya’s wheat import bill fell by 51.3 percent from Sh85.73 billion in 2024 despite volumes dipping only marginally by 3.4 percent to 2.24 million tonnes.

Rice imports, by contrast, remained relatively expensive. Although the rice import bill declined by 18.8 percent from Sh67.85 billion in 2024 to Sh55.11 billion in 2025, the drop was far smaller than that recorded for wheat. Rice import volumes also fell by 12.6 percent to 785,930 tonnes, the data collated by the Kenya National Bureau of Statistics show.

The disparity reflects diverging global price movements for the two commodities. Average wheat import prices nearly halved to about Sh18,700 per tonne in 2025 from about Sh37,000 a year earlier. Rice prices, on the other hand, eased more gradually, declining by about 7.1 percent to around Sh70,100 per tonne from Sh75,400.

As a result, Kenya spent substantially more on rice despite importing nearly three times more wheat by volume, underlining the cost burden associated with the rice grain. This came in a year Kenyan traders imported at least 250,000 tonnes of duty-free rice after the government temporarily waived import taxes to ease supply pressures in the local market.

The National Treasury had initially authorised the duty-free importation of 500,000 tonnes of Grade 1 milled white rice between July and December 2025.

However, the Kerugoya High Court suspended the original Gazette notice following a petition by farmers, who argued the imports would trigger rice dumping and depress local earnings.

The court later capped the imports at 250,000 metric tonnes and ordered that the shipments be brought into the country by October 31, 2025, instead of the earlier December 31 deadline.

Without duty waivers, Kenya levies a 35 percent duty or $200 (Sh25,840) per metric tonne on rice imports after successfully securing a stay on applications under the East African Community’s Common External Tariff framework at 75 percent.

Analysis of KNBS numbers indicate rice import spending has more than doubled from Sh26.78 billion in 2017, reflecting steadily rising demand, particularly in urban areas where changing lifestyles and convenience foods are changing eating habits.

Wheat import expenditure, meanwhile, has remained relatively flat over the same period despite sharp year-to-year fluctuations, edging down by 1.6 percent between 2017 and 2025.

Domestic production trends further expose Kenya’s increasing reliance on external markets.

Data in the 2026 Economic Survey shows rice paddy production increased by 6.4 percent in 2024/25, supported by a 5.3 percent expansion in cropped area to 48,379 hectares across irrigation schemes. Production rose to 285,439 tonnes during the period.

‘Taveta and Bura irrigation schemes saw the highest increases in rice paddy production, with 25.5 thousand tonnes and 14.1 thousand tonnes, respectively, in 2024/25, compared to 19.0 thousand tonnes and 11.8 thousand tonnes in 2023/24,’ KNBS wrote in the economic Survey.

Despite the gains, local production remains far below national demand, forcing Kenya to continue relying heavily on imports.

Wheat production also declined, falling by 18.2 percent to 254,900 tonnes in 2025 from 311,800 tonnes the previous year and remaining below the 2020 peak of 405,000 tonnes.

The drop highlights persistent structural constraints facing local farmers, including high input costs and limited suitable land.

Unlike wheat, which Kenya sources from a relatively diversified pool of exporters, rice imports are heavily concentrated in Asian markets such as Pakistan, India and Vietnam. The concentration leaves the country more exposed to supply disruptions, export restrictions and currency fluctuations.

The duty on wheat imports currently stands at 10 percent, reduced from the standard 35 percent under the East African Community Common External Tariff regime.

Many observers did not fully grasp the symbolism and significance of the appointment of Benedict Oramah as chairman of the Governing Council of Kenya’s newly created National Infrastructure Fund earlier this year.

Prof Oramah is not merely a distinguished name for a letterhead; he is the architect of the most consequential experiment in African financial self-reliance of the last decade. Under his leadership, African Export-Import Bank’s balance sheet grew almost eightfold, from $6 billion to nearly $44 billion by the time he concluded his tenure in October 2025.

President William Ruto’s administration is experimenting with a bold idea. It is signaling that Kenya is no longer content to play by the old rules of the global financial architecture. Whether the experiment will work remains to be seen.

In early 2023, when the Ruto administration was confronted with crippling fiscal distress and looming spectre of default, it did not simply queue up at the traditional Western creditor windows. It turned instead to Afreximbank and the Trade and Development Bank (TDB), the financial arm of Comesa, for emergency liquidity support.

Was this merely an act of desperation? Perhaps. But the move also reflected a broader continental repositioning, born of a growing recognition among African leaders that the continent’s development cannot remain permanently mortgaged to institutions such as the International Monetary Fund and the World Bank, whose governance structures, voting weights, and risk frameworks were designed in a different era and for different purposes.

Under Oramah’s stewardship, Afreximbank launched the Pan-African Payment and Settlement System (PAPSS), whose ambition is to enable cross-border trade in local currencies across more than twenty African countries. The bank also financed African nations through the Covid-19 pandemic at a time when many traditional creditors retreated inward to focus on their own domestic crises.

As was to be expected, this new direction has now set Kenya on a collision course with the IMF. The tension currently unfolding is not about the usual headline-grabbing disputes over budget cuts, tax increases, subsidy removals, or inflation targeting.

At its core lies a fundamental accounting question: how should Kenya classify loans raised through securitisation of dedicated government revenue streams?

The IMF insists that these securitisation loans should be recorded as sovereign debt. Kenya’s National Treasury insists on treating them as corporate or private liabilities kept off the sovereign balance sheet.

Kenya is both technically and philosophically correct. When it securitises revenues from road maintenance fuel levy to fund road projects, or pledges income from the Sports Fund to finance Talanta Stadium, it is not borrowing against the ‘full faith and credit’ of the Republic. It is monetising specific, ring-fenced future revenue streams.

In a properly executed securitisation, the lender’s recourse is limited to that specific cash flow. It does not extend to general tax revenues or the Consolidated Fund. The risk is therefore transferred from the sovereign to the revenue stream itself. The liability is contingent and bounded, rather than open-ended, as sovereign debt is by definition.

We must also remember that Kenya operates under IMF programme terms that include strict debt ceilings. The moment these securitised liabilities are reclassified as public debt, Kenya’s measured debt burden rises immediately. This occurs without the country borrowing a single additional shilling.

While Kenya’s actual solvency and repayment obligations remain the same, the ‘reality’ perceived by global markets shifts.

In a world governed by financial signals, measurement becomes destiny. Such reclassification affects access to capital markets and shapes the narrative that credit-rating agencies communicate to the world.

Furthermore, future securitisation efforts would become largely pointless. If pledging a dedicated revenue stream produces the same balance-sheet outcome as issuing a conventional Eurobond, there is little incentive to develop more sophisticated, locally rooted, revenue-linked financing structures. The instrument loses its entire rationale, and an important avenue for financial innovation is effectively blocked.

I also detect a degree of hypocrisy in this debate. African governments are repeatedly lectured by the IMF and the World Bank to reduce dependence on external concessional debt and deepen domestic capital markets.

This is precisely the logic underpinning the National Infrastructure Fund that Oramah now leads – a vehicle designed to crowd in private capital and reduce dependence on sovereign borrowing. When Kenya attempts to finance development without placing the full burden of obligation on taxpayers, it is operating in the very spirit of the advice it has long been given.

If the global financial architecture refuses to evolve, then Kenya’s decision to bring in the architect of Africa’s emerging financial order is not merely a policy choice; it is an act of necessity. Perhaps it is time for the IMF to step back and allow the continent’s own institutions to take the lead.

A few years ago, it was hard to find burgers on the menu of a Kenyan household. Burgers were dishes a few adults grabbed between errands to reduce hunger pangs or purely a children’s snack. Today, burgers stacked with meats and vegetables, some so large they can feed four people, have become the go-to meal for many Kenyans, becoming a booming business for those in the food sector.

Rise of the ‘experience burger’

Across Nairobi, burgers are getting bigger in ambition and size. At Harvest Restaurant in Nairobi, this shift is most evident in the introduction of their giant burger designed for four. It costs Sh4,500.

‘We wanted to be different, so we came up with a giant burger offering that can be shared by four people or even more,’ says executive sous-chef Felix Maluni.

This trend taps into a broader shift in lifestyle. Dining out is no longer just about eating; it has become about sharing moments and experiences. Says chef Felix,

‘We make our buns in-house, considering the size. For the meat, we mince beef chuck and beef brisket. We do ratios of 60 to 40 to get the right combination.’

This replicates a level of precision that is commonly associated with fine dining rather than fast food.

‘We have elevated the dish beyond the usual burger accompaniment of fries. We came up with a green salad and a mixed vegetable salad to make the dish more appealing and look more complete.’

This particular burger has meat, cheese, grilled onions and gherkins alongside a salad. The result is a plate that feels curated, not cobbled together.

A global journey, reinterpreted locally to understand the burger’s transformation, one has to look beyond Nairobi. At Café Amka, Maureen Njeri, a chef, traces the burger’s roots back to Europe.

‘The burger originated in Germany, and it is only when some Germans migrated to the US that they brought with them their staple; it was called a Hamburg steak. It was basically minced beef that was eaten with side dishes like potato and rice, but not bread,’ Chef Maureen explains.

The now-familiar burger format emerged later.

‘Slowly it started to be cooked as street food as well. For fast food, you don’t want to eat something that’s messy; they formulated a recipe where they compressed the minced beef to now become a pSté; they introduced the bread,’ she says.

In the US, the burger evolved further into a full meal.

‘Some of the food chains in the US also invented their own way of serving it, by adding fries and soda, making it a full meal.’

From there, chefs began to elevate it, for instance including premium cuts like Wagyu and brisket, to elevate the taste from just basic minced beef. That global evolution, in the African remix, is being filtered through local identity.

‘We have two different burgers, the beef burger and chicken burger. Our beef burger is called Ng’ombe moto burger, the chicken Kuku laini burger,’ Chef Maureen says.

But the concept goes beyond naming. ‘Since our restaurant is very African themed, our burgers are more of an African journey of flavours,’ she explains, adding that each layer is intentional.

‘A brioche bun is followed by a layer of spice, spicy mayo that awakens the palate. Then there’s some fresh lettuce that adds some freshness and mimics how African dishes balance spice with low or lightly dressed vegetables.’

There is also a deliberate play on flavour contrasts.

‘We then add an enhancer of acidity, which is the tomato, which also adds juiciness to the burger. And to add some richness from the land, our guacamole adds that creamy and earthy richness.’

Even the seasoning carries a local signature.

‘Our burger pate is exactly 120 grams for both the beef and the chicken. They are handcrafted and seasoned with a mayakwa, which is a mix of onions, carrots and celery. And for our signature African twist, we have the mango mayo that lends richness, fruitiness and a tropical identity,’ she adds.

Redefining what ‘full’ means globally, the idea of a ‘complete burger’ has shifted, and restaurants are keeping pace.

‘A full burger today is defined by that extra side and a particular drink. You can have a burger with potato or veggies or sweet potato and a soft drink or a cocktail,’ Chef Maureen offers.

This mirrors trends in Western markets where burgers are now paired with craft beverages, artisanal sides and even tasting menus. In Kenya, although preferences still lean on the traditional, they are evolving. The variety of beef offerings is, for instance, expanding. Other than the beef and the chicken, some eateries are offering lamb and a variety of vegetarian offerings.

The shift of the burger from a snack to a full meal is also happening in specialty brands. At Java House for instance, diners can move from the familiar beef burger and cheeseburger to their more layered options such as the Hawaiian caramelised onion burger, bacon cheese burger, umami burger and guacamole bacon cheese burger. At the centre is their ‘full house burger,’ priced at Sh1,250, available with either a beef or chicken patty.

A similar narrative unfolds at Artcaffé, where the burger menu balances classics with more expressive options such as the Tex-Mex burger, while the Texas burger and the ‘Beet It burger’ point to a growing vegetarian and alternative offering.

Then there are niche players like Drip Burgers, which are redefining the category through focus and identity. Here, burgers are not part of the menu; they are the menu. Their signature offerings come paired with fries. Options lean into bold, indulgent flavours: the Big Bacon Burger, Mushroom Burger and Hawaiian Burger sit alongside more distinctive creations such as the Big Smoking Burger, Drip Chicken Burger, Double Drip Chicken Burger, the All-in-One Burger and their increasingly popular Smash Burger.

These burger offerings include other speciality brands that push the burger meal narrative and, in many ways, make the serving a full meal.

Safaricom Plc has raised its total dividend by 66.7 percent to Sh2 per share for the year ended March 31, 2026 after posting a 67.3 percent rise in net profit to Sh99.7 billion, driven by strong M-Pesa growth in Kenya and sharply reduced losses in Ethiopia.

The proposed payout comprises a final dividend of Sh1.15 per share, adding to the interim dividend of Sh0.85 paid earlier this year. Total shareholder payouts for the period stand at Sh80 billion.

This marks a sharp increase from the previous financial year when Safaricom paid a total dividend of Sh1.20 per share, comprising a final payout of Sh0.65 and an interim dividend of Sh0.55.

The company’s profitability in Kenya rose by 24.7 percent to Sh119.7 billion, largely supported by growth in revenues from its mobile money service, M-Pesa.

M-Pesa revenues in Kenya rose by 13.4 percent to Sh182.7 billion, anchoring the strong performance in the domestic market.

The growth in M-Pesa revenues has been supported by the platform’s expansion into new services, including personal savings and stock trading on the Nairobi Securities Exchange (NSE) through Ziidi Trader.

Data boost

Connectivity revenues – comprising mobile data, voice calls and messaging – rose by 6.9 percent to Sh197.9 billion during the period, supported mainly by mobile data growth as voice revenues expanded at a slower pace and messaging revenues declined.

‘Mobile data continues to power the connectivity business as voice remained resilient,’ said Dilip Pal, Safaricom chief finance officer.

Fixed service revenues, representing Safaricom’s fibre-to-home business, rose by 12.2 percent to Sh20.2 billion.

Ethiopia path

Safaricom more than halved its losses in Ethiopia to Sh21.2 billion, supported by an improved macroeconomic environment and tariff reviews on voice and data services implemented in late 2025.

The telecommunications operator said it remains optimistic about breaking even in Ethiopia by March 2027.

‘The Ethiopia business has a clear trajectory towards break-even supported by healthier industry dynamics,’ said Peter Ndegwa, Safaricom Plc chief executive officer.

Uganda has been handed a chance to determine the next occupant of Kenya Pipeline Company’s corner office after the board opened recruitment for the newly listed firm’s managing director.

KPC’s board on Thursday put out an ad seeking to recruit a managing director following resignation of Joe Sang, just weeks after the company’s shares started trading on the Nairobi Securities Exchange (NSE). Mr Sang quit amid a fuel scandal that saw three senior public officers step down.

This allows Uganda to exercise its veto power on appointment of the next managing director of the company by invoking a clause that was included in the firm’s charter as an incentive for the country to acquire a Sh20 billion stake in KPC to save its initial public offering (IPO).

Under these changes, the KPC board cannot hire or fire the chief executive without the concurrence of the Ugandan directors, effectively giving Kampala some sway over who will steer the petroleum logistics firm post-IPO.

Kampala, which imports most of its fuel through Kenya, also secured two seats on the board of the newly listed firm after its State-owned oil company, Uganda National Oil Company (UNOC), snapped up shares left on the table by other categories of investors.

“The Kenya Pipeline Company Plc (KPC) seeks applications from suitable and highly qualified professional to fill the position of managing director. This position serves as the Company’s chief executive officer, accountable to the board of directors,’ reads the vacancy announcement published in the dailies on Thursday.

The board said it is looking for a highly experienced person who will guide the company through the ‘post-listing phase, including heightened governance, disclosure, investor relations, and regulatory obligations.’

But the candidate-who has to have a 15 years’ experience, 10 of which in a senior management-has to get the nod of Kampala.

The recruitment now opens the first real test of the new governance structure negotiated between Nairobi and Kampala during the dramatic final days of KPC’s stake disposal, one of the largest public share sales in the region’s history.

Under changes made to KPC’s articles of association, Uganda secured the right to approve the appointment or removal of the managing director as long as Kampala retains shares in the company through the Uganda National Oil Company (UNOC).

Kampala also won the power to approve future issuance of fresh shares to prevent dilution of its ownership.

The concessions were part of a last-minute deal after Uganda threatened to walk away from the IPO because of concerns over lack of influence in the management of a company that handles the bulk of its fuel imports.

Uganda’s withdrawal would have dealt a severe blow to the IPO, which had struggled to attract investors amid concerns over valuation and market appetite.

Top brokers involved in the sale indicated that commitments had fallen significantly short of the Sh53.1 billion minimum threshold required for the offer to proceed.

Kampala’s commitment to purchase shares worth over Sh20 billion rescued the transaction from collapse.

The outcome has, however, fundamentally altered the governance structure of one of Kenya’s most strategic State corporations.

For decades, KPC has been treated as critical national infrastructure, controlling the transportation and storage of fuel products through Kenya and into the wider East African region.

Aides of former President Uhuru Kenyatta and former vice-presidents Moody Awori and Kalonzo Musyoka are paid in excess of Sh100 million at taxpayers’ expense, underlining the burden of keeping the top officials comfortable in retirement.

Workers attached to such personalities include drivers, cooks, secretaries, messengers, cleaners, personal assistants as well as gardeners, among others.

Budget documents tabled in Parliament show that the three former executives will pay their office staff Sh109.36 million in the financial year starting this July, with the entire taxpayer bill for running the offices standing at Sh362.06 million.

This pushes the total annual cost of the retired top officials to Sh448.55 million, inclusive of their monthly pensions, which stand at Sh86.4 million.

Data shows that Mr Kenyatta accounts for the bulk of the budget for office maintenance and aides at Sh259.99 million, including Sh87.37 million going to the support staff and Sh57.2 million for domestic and foreign travels.

Mr Awori and his successor, Mr Musyoka, will get Sh49.06 million and Sh47.81 million, respectively, for office operations, with the duo spending Sh11.15 million and Sh10.84 million to pay their aides.

The former vice presidents get an estimated Sh720,000 in monthly lifelong pension and Sh108,000 in fuel allowance every month, besides other lavish benefits like fully furnished offices as well as 17 workers, including chefs, accountants, secretaries and personal assistants at taxpayers’ expense.

They also receive two saloon cars and a four-wheel drive vehicle, which are replaced every four years. Taxpayers cater for the maintenance of the vehicles at dealerships.

The taxpayer burden would have been heavier with added costs to maintain the office of the former Prime Minister, which has been scrapped following the death of the only surviving holder Raila Odinga last October.

But Mr Kenyatta has better perks.

Former presidents are entitled to two personal assistants, four secretaries, four messengers as well as four drivers and bodyguards, pushing the office and home workers to 34 under the scheme funded by taxpayers.

Retired presidents are also entitled to four cars, including two limousines, which are replaced every four years. They have full medical cover and fully furnished offices.

The spending highlights the elevated cost of post-retirement benefits for top State officers at a time when the government is under pressure to rein in expenditure.

The ‘digital front door’ represents a radical shift toward a new and permanent way of managing the patient experience. Much like the invention of the steam engine, the light bulb and electricity, certain technological advancements split the world into ‘before’ and ‘after.’ The digital front door is one such advancement.

Conceptually, the digital front door is an omni-channel customer engagement strategy aimed at using technology to improve the patient experience at every touchpoint in the consumer journey.

It represents all the ways medical providers interact digitally with patients outside the point of care. In essence, it refers to the initial touchpoints where patients interact with a provider-online scheduling, registration, and eligibility verification.

These tasks have traditionally been slow and error-prone, introducing inefficiencies that disrupt clinical and financial workflows. However, advanced AI platforms now handle eligibility checks and prior authorisations in real time, removing administrative hurdles before patients even arrive.

While the digital front door is the entry point, artificial intelligence (AI) is the mechanism that opens it. AI is transforming healthcare advertising from passive, broad-based awareness campaigns into highly personalised, proactive engagement strategies.

By 2028, an estimated 70 percent of patient engagement interactions will be powered by AI. This shift enables healthcare providers to reach patients with tailored messaging based on behavior, search intent and clinical needs, effectively moving the industry from a reactive model to a predictive one.

AI is no longer merely a support function; it is becoming a business growth solution. It acts as a revenue-driving system that connects the ‘campaign’ to the ‘conversion.’

Despite the technological potential, however, healthcare marketing presents unique challenges that require a strategic, data-driven approach.

Medical advertising faces significant hurdles rooted in strict regulatory compliance, the need to maintain patient trust and the complexity of the patient journey.

AI is rapidly transforming how medical practices market their services, from automating patient inquiries to personalising campaigns with unprecedented precision. The global AI healthcare market is projected to grow at a 39 percent compound annual growth rate between 2024 and 2030.

However, medical marketing is deeply tied to patient trust. Using AI without clear oversight can create compliance issues, harm reputations, and lead to missed opportunities.

By blending data-driven insights with advanced technology, AI is enabling a new era of precision that benefits patients, healthcare providers, and advertisers alike

The risks of relying too heavily on AI are significant. Therefore, the industry must embrace AI wisely. By establishing human oversight, committing to transparency, and addressing concerns around bias and inclusivity, healthcare marketing organizations can leverage AI to enhance efficiency without sacrificing credibility.

As healthcare advertising continues to evolve, the adoption of AI is reshaping how advertisers and publishers engage with their audiences. AI is not just a buzzword-it is a transformative force.

By harnessing its capabilities, the industry can achieve new levels of efficiency, effectiveness, and personalization. The future of healthcare advertising is here, and it is powered by AI.