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Kenya Power has unveiled an ambitious Sustainability Strategy, marking a significant step in aligning its operations with sustainable business practices to combat climate change and enhance resilience. The launch highlights the company’s commitment to environmental stewardship, responsible resource utilization, and socio-economic well-being. Overview of the Sustainability Strategy The Sustainability Strategy aims to embed sustainability into […]

The Central Bank of Kenya (CBK) has announced the release of updated Kenyan currency banknotes, incorporating changes that reflect the institution’s commitment to enhancing security and ensuring compliance with constitutional mandates. The updated denominations—Sh50, Sh100, Sh200, and Sh500—mark a significant step in the evolution of Kenya’s currency system. Key Updates in the New Banknotes The […]

In a move set to impact borrowers across Kenya, Equity Bank has announced a reduction in interest rates for all Kenya Shilling-denominated loans. This follows the Central Bank of Kenya’s (CBK) decision to lower the Central Bank Rate (CBR) from 12.75% to 12.0%. The interest rate adjustment, effective immediately, underscores Equity Bank’s commitment to aligning […]

Kenya’s government will allocate an additional KSh 2.5 billion next week to settle outstanding debts owed to hospitals and service providers by the defunct National Hospital Insurance Fund (NHIF). President William Ruto announced this initiative during a church service at Soweto Catholic Church in Embakasi East, Nairobi. This allocation builds on the KSh 5 billion […]

Kenya is poised to implement a groundbreaking shift in its tax framework with the introduction of the Tax Procedures (Amendment) (No. 2) Bill, 2024. This draft bill, published by the Kenyan Treasury, is designed to bring remote workers under the purview of the Kenya Revenue Authority (KRA), requiring all employees working for Kenyan employers—even those […]

National Assembly Majority Leader Kimani Ichung’wah has unveiled a sweeping package of legislative reforms that aim to stimulate economic growth and improve the business climate in Kenya. With the economy facing ongoing challenges, including high inflation, a volatile currency, and stiff competition from regional neighbors, the proposed reforms are timely and essential for bolstering Kenya’s […]

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 […]