Kenya recently reversed a set of stringent regulations targeting foreign ownership in the maritime transport sector, averting a potential disruption at the Port of Mombasa, one of East Africa’s key trade gateways. The move, announced by Prime Cabinet Secretary Musalia Mudavadi, came after widespread outcry from industry stakeholders, who argued the regulations could discourage foreign […]

Kenya’s Jomo Kenyatta International Airport (JKIA) is facing a major logistical crisis that threatens the country’s lucrative horticulture industry, particularly its flower exports to Europe. Flight cancellations and delays are causing significant setbacks at the airport, affecting operations just as Kenya enters the high export season for fresh flowers, fruits, and vegetables. This crisis has […]

Kenya has reaffirmed its commitment to combating climate change as a national priority, with President William Ruto placing sustainability at the center of the country’s development strategy. This commitment was highlighted as Cabinet Secretary for Environment, Climate Change, and Forestry, Aden Duale, led Kenya’s delegation to the 29th Conference of the Parties (COP 29) in […]

In a bid to revamp Kenya’s revenue collection framework, the National Treasury has proposed a new tax regime aimed at expanding the tax base while sparing essential commodities from increased VAT charges. Treasury Secretary John Mbadi unveiled the Tax Laws (Amendment) Bill 2024, which focuses on high-value sectors, particularly the airline industry, digital services, and […]

Nigeria’s trade ambitions under the African Continental Free Trade Area Agreement (AfCFTA) took a significant leap forward with its first shipment to Kenya, marking a milestone in regional commerce. The Nigeria Customs Service (NCS) facilitated this historic export, with Lucky Fibres—a subsidiary of the Tolaram Group—becoming one of the inaugural companies to utilize the AfCFTA […]

Kenya is strengthening its economic ties within Africa, with trade between Kenya and other African nations rising by an impressive 26% in the first seven months of 2024. This expansion underscores the importance of intra-African trade and highlights Kenya’s commitment to deepening economic partnerships across the continent. Growing Trade with Key African Partners A recent […]

Kenya’s National Treasury and Economic Planning has recently announced a tax policy revision that will significantly impact Kenyans working remotely from overseas locations. Cabinet Secretary John Mbadi revealed that under the new policy, these remote workers will be required to obtain a Personal Identification Number (PIN) from the Kenya Revenue Authority (KRA). This move, embedded […]

In a significant policy shift aimed at economic stabilization and boosting state revenue, Kenya’s government announced the reintroduction of tax reforms on Friday. This move follows the shelving of an earlier finance bill in June that incited widespread protests and civil unrest across the country. President William Ruto’s administration, which has faced mounting pressure to […]

The International Monetary Fund (IMF) recently approved a substantial loan of $606.1 million for Kenya, marking a critical step in supporting the East African nation’s fiscal health, economic reforms, and resilience against climate-related risks. This latest financing package comes at a time when Kenya is grappling with significant economic challenges, including rising debt, inflationary pressures, […]

The International Monetary Fund (IMF) has approved the seventh and eighth reviews of Kenya’s economic program, enabling the country to access a $606 million loan tranche. This decision is a significant boost for the Kenyan government, which has faced liquidity constraints amidst a challenging socio-economic climate. The East African nation, struggling with high debt servicing […]