Kenya has taken the lead in start-up investments across Africa in the first half of 2024, despite a downturn in overall venture funding on the continent. According to data from Africa: The Big Deal, Kenyan start-ups secured $244 million (Ksh. 31 billion), capturing a significant 32% share of the total $780 million raised by African […]
Moody’s Investors Service has downgraded Kenya’s long-term issuer ratings to Caa1 from B3, with a continued negative outlook. This decision reflects concerns over the government’s fiscal strategy and its implications for debt sustainability. The downgrade underscores Kenya’s reduced ability to implement revenue-driven fiscal consolidation, critical for improving debt affordability. Moody’s pointed out the government’s recent […]
Del Monte Kenya, a cornerstone of Kenya’s agricultural sector since 1965, plays a pivotal role in both economic growth and community development. Specializing in pineapple processing, the company has become a leading global exporter, contributing significantly to Kenya’s GDP and foreign exchange reserves. In 2023, Del Monte Kenya exported 75,000 metric tonnes of pineapple products […]
Homa Bay County is gearing up for a transformative economic endeavor with the imminent development of the Riwa Special Economic Zone in Rachuonyo North Sub County. Governor Gladys Wanga unveiled the county’s meticulous master plan, which is nearing implementation following a crucial topographical survey. Spanning 532 acres, the industrial park is set to emerge as […]
Kenya’s tech startup landscape is set to undergo a significant transformation with the launch of the Chanzo OneSpace Startup and Scaleup Accelerator (COSSA). Spearheaded by Two Rivers International Finance and Innovation Centre Special Economic Zone (TRIFIC SEZ), ONESPACE, and Chanzo Capital, this initiative aims to propel local tech ventures into new African markets. COSSA offers […]
Today marks a significant milestone in EU-Kenya relations as the Economic Partnership Agreement (EPA) between the European Union and Kenya officially enters into force. Signed in December 2023, this agreement aims to strengthen bilateral trade, boost investment, and foster sustainable economic development. Kenya, recognized as East Africa’s economic hub, stands to benefit greatly from enhanced […]
Stanlib Kenya Fund and its Real Estate Investment Trust (REIT) operations are entering a critical phase, with the Capital Markets Authority (CMA) granting stakeholders a 45-day window to address any unresolved issues. This follows Stanlib Kenya’s formal notification to the CMA of its intention to cease licensed activities, a move the Authority has accepted, paving […]
Recent unrest in Kenya, triggered by protests and political instability, has prompted several global firms to reassess their investment plans in the country. Despite President Ruto’s announcement to withdraw the Finance Bill 2024, concerns persist among foreign investors regarding ongoing uncertainties. The decision by some firms to delay further investments is influenced by various factors, […]
Kenya is preparing to launch its own rendition of the “Year of Return” initiative, following Ghana’s successful implementation in 2019. Spearheaded by President William Ruto, this initiative aims to attract members of the African diaspora worldwide to reconnect with their ancestral homeland and contribute to Kenya’s economic growth. The Year of Return initiative, originally championed […]
Ernst & Young LLP (EY Kenya), a leading provider of professional services based in Kenya, faces a significant setback as the World Bank Group (WBG) announces its 30-month debarment. This action follows investigations into EY Kenya’s involvement in key projects aimed at enhancing economic institutions and financial management in Somalia. EY Kenya, renowned for its […]
In a decisive move to transform Kenya’s economic landscape and foster gender equality, the Cabinet has approved the National Policy...
In a dramatic escalation of the global trade and economic conflict, former President Donald Trump is spearheading a new initiative...
In a landmark move aimed at deepening regional integration and boosting economic resilience, the Economic Community of West African States...
In a dramatic turnaround for Kenya’s pioneering automaker, Mobius Motors has resumed operations following its acquisition by Silver Box—a Middle...