In a decisive step aimed at boosting fiscal discipline and stimulating economic activity, Kenya’s Pending Bills Verification Committee has approved the payout of Ksh 236 billion from the more than Ksh 600 billion inherited by the Kenya Kwanza administration. Principal Secretary for the National Treasury and Economic Planning, Chris Kiptoo, announced the approval during his […]
In a recent development that has stirred significant discussion among economists and policymakers, Kenya’s National Treasury and Economic Planning headquarters announced that the government exceeded its recurrent budget target for the fiscal year 2024/25 by KSh193 billion. The government’s recurrent expenditure reached KSh1.5 trillion by December 2024—well above the originally targeted KSh1.29 trillion. This performance, […]
Kenya’s economy faces fresh concerns following the latest Kenya National Bureau of Statistics (KNBS) Economic Indicators Report for December 2024, which revealed a sharp decline in tea and coffee exports. These two commodities are among Kenya’s top foreign exchange earners, contributing significantly to the country’s revenue. The decline in their export volumes raises serious questions […]
The Kenya Power and Lighting Company (KPLC) has recorded a historic peak in electricity demand, reaching 2,316 megawatts (MW) on Wednesday, February 12, 2025. This milestone marks a steady rise in power consumption, driven by industrial growth, infrastructure expansion, and increasing household connections. According to KPLC’s National Control Centre, peak electricity demand has been on […]
In a strategic move to manage its fiscal responsibilities, Kenya has announced the deferral of Sh88.1 billion in funding from the International Monetary Fund (IMF) to the next financial year. This decision comes as the National Treasury initiates discussions for a new financing programme to succeed the current arrangement set to expire in April. The […]
Kenya is facing a significant environmental and economic crisis, with a new report revealing that the nation loses approximately Sh534 billion annually due to deforestation and forest degradation. The “Forest Status Report 2024,” released on Tuesday, highlights that the ongoing destruction of forests costs the economy at least three percent of its gross domestic product […]
Equity Bank has announced a 300 basis point (3 percent) reduction in interest rates for all new and existing Kenya Shilling-denominated credit facilities, a move expected to provide relief to borrowers and stimulate economic growth. The rate reduction, which takes effect on February 13, 2025, for new loans and March 1, 2025, for existing loans, […]
The Nairobi Securities Exchange (NSE) has unveiled an ambitious five-year strategy aimed at attracting 9 million active retail investors, both domestically and in the diaspora. The initiative, which commenced in February 2024, seeks to rejuvenate Kenya’s capital markets by increasing market participation, modernizing trading infrastructure, and introducing new financial instruments to make investing more accessible […]
In a groundbreaking ruling, the High Court of Kenya has declared that the failure of the national and county governments to allocate at least 30% of their budgets to development expenditures is unconstitutional and unlawful. This decision follows a petition filed by the Kenya Human Rights Commission (KHRC) in 2024, challenging the government’s recurrent spending […]
The Kenya Revenue Authority (KRA) has released draft amendments to tax procedures governing the importation, assembly, and manufacture of motor vehicles, motorcycles, and trailers. The amendments, open for public review and feedback until February 21, 2025, seek to bolster Kenya’s industrial sector, promote electric vehicle (EV) adoption, and reduce reliance on imported automotive components. This […]
In a decisive step aimed at boosting fiscal discipline and stimulating economic activity, Kenya’s Pending Bills Verification Committee has approved...
In a dramatic turn that has stirred debates among economists and policymakers alike, President Donald Trump has floated a provocative...
South Africa’s official unemployment rate edged down slightly in the fourth quarter of 2024, falling to 31.9% from 32.1% in...
In a landmark operation that has captured the attention of investors and market watchers alike, the Central Bank of Kenya...