Hello, I'm Jason. Welcome to today's edition ofThe Business Roundup, where we provide you with the latest news on Kenya's ever-changing business scene. In this issue, we explore the latest fuel price announcements from the Energy and Petroleum Regulatory Authority (EPRA), the government's list of insured banks, a possible large-scale bank merger between NCBA and Stanbic, and major changes affecting public sector pay slips. Let's start right in.
Fuel prices remain unchanged
We start with the most recent update from EPRA, which has issued the new fuel price review for the time frame from October 15 to November 14, 2025. In a positive development for customers, EPRA has kept fuel prices at their current levels, providing a short break in the face of fluctuations in the global oil market.
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According to the official statement released on Tuesday, October 14, the costs of Super Petrol, Diesel, and Kerosene have not changed. In Nairobi, the retail prices are listed below:
- Super Petrol: Ksh184.52
- Diesel: Ksh171.47
- Kerosene: Ksh154.78
In other key towns:
- Mombasa: High-Octane Fuel (Ksh181.21), Diesel (Ksh168.19), Jet Fuel (Ksh151.49)
- Nakuru: Premium Gasoline (Ksh183.56), Diesel (Ksh170.87), Kerosene (Ksh154.21)
- Eldoret and Kisumu: Super Petrol (Ksh184.38 & Ksh184.37), Diesel (Ksh171.68), Kerosene (Ksh155.03)
EPRA emphasized that the prices include the 16% VAT as outlined in the Finance Act 2023, the Tax Laws (Amendment) Act 2024, and the revised excise duty ratesunder Legal Notice Number 194 of 2020
The typical cost of Super Petrol dropped marginally by 0.10%, moving from Ksh80,218 to Ksh80,141.21 per cubic meter. Meanwhile, the prices of Diesel and Kerosene increased by 1.57% and 2.97%, respectively, indicating ongoing challenges in the refined fuel market.
Banks that offer deposit insurance
Shifting focus to the banking industry, the Kenya Deposit Insurance Corporation (KDIC) has released the list of financial institutions that have their deposits protected under the Deposit Insurance Scheme for the Fiscal Year concluding on June 30, 2026.
As a statutory Resolution Authority set up under the Kenya Deposit Insurance Act of 2012, KDIC safeguards depositors' money when banks fail.
The plan consists of 37 commercial banks, 1 mortgage finance institution (HF Group), and 14 microfinance banks.
Under the program, every depositor is protected up to Ksh500,000 if an institution fails. Nevertheless, KDIC utilizes extra measures like early identification, quick action, and swift settlement to reduce overall risk and retrieve money past the covered limit.
The company stated that it implements these steps to assist account holders in retrieving a larger portion of their money by aiding in the sale of a failed bank's assets and settling outstanding liabilities.
Reports of NCBA-Stanbic merger boost stock prices
In significant corporate updates, NCBA Group has experienced a rise in its stock price after reports by Bloombergregarding a potential purchase by Standard Bank Group, the parent company of Stanbic Bank Kenya.
NCBA shares increased from Ksh69 to Ksh76.25 on Tuesday, October 14, with Stanbic's stock also rising slightly to Ksh199, indicating significant investor attention. On Wednesday, NCBA Group continued its upward trend, increasing by an additional 8% to finish at KES 81.25 [+69% year-to-date], following Tuesday's 8.3% rise.
The two banks are said to be in talks to combine their operations, which could result in Kenya's third-largest financial institution by assets — valued at approximately Ksh1.1 trillion ($8.5 billion).
Even though some sources suggest the agreement is still being discussed, it is seen as a strategic merger that might greatly alter the power dynamics within Kenya's financial services industry. At present, Equity Group Holdings Plc and KCB Group Plc are the leading banks in terms of total assets.
If finalized, the merger would not only alter the competitive environment but also lead to increased regulatory review and potentially additional consolidation activities within the industry.
Reacting to the Bloomberg reports, Stanbic Bank responded:
Stanbic Holdings Plc acknowledges the media rumors concerning a possible deal. Stanbic Holdings Plc, however, refrains from commenting on market or media speculation, and any significant updates regarding potential corporate actions will always be shared via the correct channels, in line with our regulatory responsibilities and stock exchange listing rules.
A group established to standardize wages in the public sector
Concluding today's summary, Cabinet Secretary Geoffrey Ruku announced on October 14 the establishment of a committee aimed at tackling wage gaps within Kenya's extensive public sector.
The group includes representatives from the Salaries and Remuneration Commission (SRC), Public Service Commission (PSC), and the State Department responsible for Public Service and Human Capital Development.
CS Ruku stated that although various directives might support certain differences, the concept of fairness and equality, as outlined in the Constitution, should take precedence.
"There is no justification for people with identical qualifications working in different government organizations — such as within the Ministry of Agriculture and a state body like KenGen — to receive different pay," he stated.
ALSO BIG THIS WEEK
- Kenya Airways (KQ) revealed theresignation of John Wilson as a non-executive director
- The Social Health Authority (SHA) is nowintroduce a monthly flat fee of Ksh660 for vulnerable Kenyans.
- Mi Vida Homes Limited hasreported the completion of a management-led buyout deal to purchase the company from Actis, a global investor in sustainable infrastructure.
- EPRA announced new tariff adjustmentsthat have enhanced critical elements of power pricing.
- The Bureau of the National Treasury and Economic Planning hasguided all financial organizations, such as banks and insurance firms, to sign up for Kenya's new online procurement platform.
- A survey conducted by the Central Bank of Kenya indicated that certain industries intend to increase their employee numbers,others anticipate either maintaining or decreasing their hiring levels because of economic uncertainties, growing expenses, and higher taxes.
- Seven KenyanSteel companies penalized with Ksh287.9 million by the Competition Tribunalwhich supported the Competition Authority of Kenya's (CAK) actions in colluding to set prices and limit imports.
- The East African Breweries Plc (EABL) has made an announcementearly repurchase of its Ksh11 billion corporate bondissued as part of the company's 2021 Medium Term Note Program (MTN Program).
As per the Central Bank of Kenya (CBK), the Kenyan Shilling maintained its stability compared to major global and regional currencies throughout the week that concluded on October 9, 2025. It was traded at Ksh129.24 for one U.S. dollar on October 9, same as the rate of Ksh129.24 recorded on October 2.
CBK set the shilling at Ksh129.2364 relative to the U.S. dollar on Wednesday, October 15.
In comparison to other major currencies, the shilling was trading at:
- Sterling Pound – Ksh171.7035
- Euro – Ksh149.5976
- South African Dollar – 7.4006
- 100 units of Japanese Yen – Ksh85.0295
In opposition to local currencies, the shilling was traded at:
- Ugandan Shilling – Ksh26.6953
- Tanzanian Shilling – Ksh18.9962
- Rwandan Franc – Ksh11. 2314
That's all for today's issue ofThe Business Roundup. Thanks for keeping up with us., see you next time.
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