Hello, I am Janeffer. Welcome to today’s edition of The Business Roundup. In this edition, we focus on these four top stories:
- Fuel shortage hits Kenya as Shell announces stockouts and Skyward Airlines hikes ticket prices
- Collapsed KOKO Networks issues notice to creditors
- Bank Appointments: Sidian Poaches John Okulo From KCB
- EPRA Lists 20 Companies Controlling Fuel Market in Kenya
Major This Week:
Shell Announces Fuel Stockouts Across Kenya
Not a good time for Kenyan motorists, as several Shell service stations across the country experienced temporary fuel shortages.
In a statement on Thursday, March 26, Vivo Energy said the shortages were caused by a sharp increase in fuel demand, leading to temporary stock‑outs at some of its service stations.
The company, however, stressed that the shortages are temporary.
“We have recently experienced increased demand for our products, which has resulted in temporary stock-outs at some service stations. Our teams are closely monitoring the situation and working continuously to replenish affected sites as quickly as possible,” read part of the statement.
Another Hit for Kenyan Travelers: Skyward Airlines Raises Fares
Kenyan-owned Skyward Airlines announced a fare increase for all passengers, citing rising global fuel prices.
The new charges, which take effect on April 1, 2026, will be applied as a fuel surcharge to all ticket prices.
Current one-way fares range from KSh 6,500 to KSh 9,000 for routes like Nairobi–Mombasa and Nairobi–Ukunda. Flights to Malindi, Eldoret, Kitale, and Migori are priced between KSh 7,500 and KSh 11,000; Lamu fares range from KSh 10,000 to KSh 13,000; while routes to Lodwar are listed between KSh 11,000 and KSh 15,000.
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Bank Appointments: Sidian Poaches John Okulo From KCB
Switching gears, the banking sector has made key appointments.
Well, Sidian Bank has appointed John Okulo as its new Managing Director and Chief Executive Officer, effective May 1, 2026.
In a notice on March 26, Sidian Bank stated that the appointment of John Okulo is subject to regulatory approval.
Here is John Okulo’s CV:
| Period | Institution / Position |
|---|---|
| June 2023 – Present | KCB Bank Kenya – Director, Corporate Banking |
| Oct 2019 – June 2023 | NCBA Bank Kenya Plc – Group Director, Corporate Banking |
| Sept 2018 – Sept 2019 | Commercial Bank of Africa – Chief Commercial Officer |
| July 2011 – June 2016 | NC Bank Uganda Limited – Managing Director |
| July 2008 – June 2011 | Stanbic Bank Uganda Limited – Head of Corporate & Investment Banking |
Peter Ng’eno has been appointed as the Director of Corporate Banking at KCB Bank Kenya, effective March 27, 2026, pending regulatory approval.
Also Read: EPRA Lists 20 Companies Controlling Fuel Market in Kenya
KOKO Networks Schedules First Creditors’ Meeting
Nairobi-based clean cooking start-up KOKO Networks Limited (in administration) has set its first creditors’ meeting for April 10, 2026.
The meeting will be held virtually, giving creditors a chance to review proposals and validate their claims before voting.
Key Details for Creditors:
- Confirm Attendance: By Wednesday, April 8, 2026, to receive login/access details.
- Statement of Proposals: Will be circulated to all registered creditors ahead of the meeting.
- Missed Your Copy? Request it via email if you haven’t received it by 5:00 PM, Wednesday, April 1, 2026.
Who Controls the Fuel Market?
Wrapping up on what is major, EPRA this week, listed 20 Companies Controlling Fuel Market in Kenya
| Company | Total Sales (m³) | % Share |
|---|---|---|
| Vivo Energy Kenya Limited | 648,668.33 | 20.56% |
| TotalEnergies Marketing Kenya Plc | 441,929.34 | 14.01% |
| Rubis Energy Kenya Plc | 434,600.59 | 13.77% |
| Ola Energy Kenya Limited | 109,987.00 | 3.49% |
| Hass Petroleum Kenya Limited | 107,451.12 | 3.41% |
| Galana Energies Limited | 101,719.89 | 3.22% |
| Be Energy Limited | 99,952.88 | 3.17% |
| Stabex International Ltd | 78,513.04 | 2.49% |
| Vitalac International Limited | 77,458.91 | 2.46% |
| Kengas Kenya Limited | 73,505.23 | 2.33% |
| Petro Oil Kenya Limited | 69,309.00 | 2.20% |
| Lake Oil Limited | 58,074.19 | 1.84% |
| Dalbit Petroleum Limited | 54,879.15 | 1.74% |
| Astrol Petroleum Company Limited | 54,795.70 | 1.74% |
| Aftah Petroleum(K)Ltd | 54,053.32 | 1.71% |
| Towba Petroleum Company Limited | 53,531.67 | 1.70% |
| Leadway Petroleum Limited | 45,825.61 | 1.45% |
| Tosha Petroleum (Kenya) Limited | 45,476.57 | 1.44% |
| E3 Energy Kenya Limited | 36,720.22 | 1.16% |
| Fossil Supplies Limited | 35,356.00 | 1.12% |
| Others | 473,312.92 | 14.99% |
Also Read: Collapsed KOKO Networks Issues Notice to Its Creditors
ALSO, BIG THIS WEEK:
- Two-bedroom apartments and office units in the exclusive 24-storey the Le Mac Tower in Westlands, Nairobi, have been advertised for public auction.
- The Kenya Revenue Authority (KRA) has announced a crackdown on taxpayers who declare nil income despite having earned revenue.
- The COMESA Competition and Consumer Commission (CCCS) has issued a consumer alert regarding a recall of certain Toyota Land Cruiser LC300 vehicles supplied by Toyota South Africa Motors (TSAM).
- World Bank Country Director for Kenya, Qimiao Fan, described Kenya as one of the most attractive investment destinations in Africa.
Currency Trends
The Kenya Shilling remained stable against major international and regional currencies during the week ending March 27, 2026.
It exchanged at Ksh129.75 per U.S. dollar on March 27.
Against other major currencies, the shilling traded at:
- Sterling Pound – Ksh173.16
- Euro – Ksh149.80
- South African Rand – 7.61
- Japanese Yen (100 units) – Ksh81.29
Against regional currencies, the shilling exchanged at:
- Ugandan Shilling – Ksh28.16, Tanzanian Shilling – Ksh19.92, Rwandan Franc – Ksh11.25
Quote of the week
Before we wrap up this week’s Business Roundup, have you ever suffered a setback? Remember:
“Don’t let yesterday take up too much of today.” — Will Rogers
