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 […]

As Kenya’s Sh301 billion International Monetary Fund (IMF) programme nears expiration in April, the Kenya Kwanza government is actively exploring options for a successor arrangement to secure continued economic support. The administration, facing rising debt obligations, a struggling economy, and dwindling local revenues, sees a new IMF deal as critical to ensuring financial stability. The […]

Kenya’s Central Bank of Kenya (CBK) has lowered its benchmark interest rate by 50 basis points, reducing it to 10.75% from 11.25%, in a bid to stimulate economic growth amid slowing expansion. The decision, announced by CBK Governor Kamau Thugge in an official statement on Wednesday, marks the lowest interest rate in nearly two years. […]

A new report from the Kenya National Chamber of Commerce and Industry (KNCCI) paints a stark picture of Kenya’s job market, revealing that over 60% of businesses plan to freeze hiring in 2025. This projection is a sharp contrast to the relatively optimistic employment forecasts seen in the second half of 2024, signaling that the […]

In a recent revelation, National Treasury Cabinet Secretary John Mbadi disclosed that nearly half of the verified pending bills in Kenya are not authentic, casting doubt on the legitimacy of compensation claims submitted by suppliers. As of June 2022, the National Treasury reported that pending bills claims totaled Ksh663 billion, prompting the Cabinet to establish […]

Kenya, like many countries around the world, is grappling with a growing unemployment crisis, with rising inflation and economic conditions further exacerbating the situation. The scarcity of job opportunities has left many young people feeling increasingly frustrated and hopeless. Despite their determination to succeed, thousands of Kenyan youth continue to face overwhelming challenges in finding […]