The Micro, Small, and Medium-sized Enterprises (MSMEs) sector is a cornerstone of Kenya’s economy, providing employment, fostering innovation, and driving economic growth. Recognizing the significance of this sector, the 2024 Inua Biashara MSME Exhibition will be held in Nairobi this week, marking a major event for small business owners, financial institutions, and policymakers. Hosted by […]

The Central Bank of Kenya (CBK) has lowered its economic growth forecast for 2024, revising it down to 5.1% from the earlier projection of 5.4%. This adjustment comes in light of a slower-than-expected performance in the second quarter of the year, driven by a combination of domestic and global factors, including suppressed credit flows and […]

With the rise of remote work, more professionals are seeking destinations that offer a blend of adventure, rich culture, and reliable connectivity. In response, Kenya has introduced a Digital Nomad Work Permit and a Transit and Long Connection Travelers Electronic Travel Authorization (ETA), aiming to establish itself as a premier destination for digital nomads. Known […]

Kenya’s Central Bank of Kenya (CBK) made a significant move to stimulate economic activity by lowering its benchmark lending rate to 12.00% from 12.75%. This decision, taken by the Monetary Policy Committee (MPC), marks the second consecutive rate cut this year, following a similar 25-basis-point reduction in August. The central bank aims to boost private […]

Kenya is embarking on an ambitious initiative to significantly increase its workforce presence in Qatar, aiming to send 300,000 workers to the Gulf nation. This figure represents a substantial increase from the current 67,000 Kenyans working in Qatar. The plan was revealed by Labour and Social Protection Cabinet Secretary Alfred Mutua during a recent meeting […]

Kenya is taking significant steps toward addressing corruption and governance issues by requesting a formal assessment from the International Monetary Fund (IMF). This move follows pressure from Western countries and aligns with the Kenyan government’s ongoing efforts to manage its rising debt and economic instability. The IMF has confirmed the request for a governance diagnostic, […]

Kenya’s inflation rate experienced a significant drop in September 2024, providing a much-needed reprieve for the economy amid persistently high food and commodity prices. According to the latest data from the Kenya National Bureau of Statistics (KNBS), the inflation rate eased from 4.4 percent in August to 3.6 percent in September. Despite the decline, rising […]

Kenya’s economic growth slowed to a two-year low in the second quarter (Q2) of 2024, registering a 4.6% expansion compared to 5.6% during the same period in 2023, according to the Kenya National Bureau of Statistics (KNBS). This marked a decline from the 5% growth recorded in the first quarter of 2024, reflecting the increasing […]

Major stakeholders of the International Monetary Fund (IMF), led by Western nations, are urging Kenya to request an IMF assessment to address issues of corruption and governance as the country seeks to unlock crucial financial support. According to sources, disbursement of approximately $600 million under Kenya’s IMF Extended Credit Facility program has been stalled, primarily […]

In a significant overhaul of Kenya’s healthcare insurance system, the government has announced that Kenyans currently relying on the National Health Insurance Fund (NHIF) will need to re-register under the new Social Health Authority (SHA). This comes as the government aims to raise KSh 148 billion annually through deductions to support the newly established Social […]