In a strategic move to solidify Nairobi’s position as a leading multilateral hub in Africa, the Kenyan government has introduced new work permits under the Kenya Citizenship and Immigration (Amendment) Regulations, 2024. Announced via gazette notice on Monday, these amendments are set to modernize and streamline work permit regulations to attract international organizations, diplomats, and […]

In a significant milestone for regional cooperation, Tanzania and Kenya have eliminated 50 trade barriers over the past four years, signaling improved economic relations and enhanced business opportunities between the two East African neighbors. The progress, achieved under the leadership of Tanzania’s President Samia Suluhu Hassan, underscores the deepening partnership between the two nations, moving […]

The Kenya Electricity Transmission Company (KETRACO) has achieved a significant milestone with the completion and energisation of the 400kV Kenya-Tanzania transmission line. This interconnector spans 510 kilometers, linking Kenya’s Isinya substation to Tanzania’s Singida substation, thereby integrating the power grids of both nations. The development marks a major step forward for regional energy cooperation and […]

President William Ruto has announced that the Hustler Fund, a flagship initiative of his administration, has successfully lent Kenyans Ksh60 billion over the past two years. Speaking during the 2024 Jamhuri Day celebrations at Uhuru Gardens in Nairobi, Ruto lauded the program as a transformative force for millions of Kenyans, providing financial empowerment and steering […]

In a move aimed at easing the cost of doing business and addressing stakeholder concerns, the Kenya Plant Health Inspectorate Service (Kephis) has suspended the implementation of new levies on imports and exports until March 2025. The suspension comes after significant backlash from traders who argued that the additional costs would harm their operations and […]

The Kenyan government, under President William Ruto’s administration, has announced transformative changes to the Hustler Fund, a flagship program aimed at empowering low-income earners and small-scale entrepreneurs. The adjustments are intended to expand credit accessibility for borrowers who demonstrate timely repayment behavior and to integrate more Kenyans into the formal financial sector. Creation of a […]

The World Bank has revised Kenya’s economic growth projection for 2024 to 4.7%, down from its earlier estimate of 5.0%. This adjustment highlights the toll of fiscal challenges, social unrest, and environmental disruptions on East Africa’s largest economy. While Kenya remains a regional leader with growth outpacing the Sub-Saharan Africa average of 3.0%, the report […]

The Kenya Revenue Authority (KRA) has released a series of draft statutory instruments to refine the country’s tax framework, signaling a significant step toward modernizing and streamlining tax compliance in Kenya. This initiative is in line with KRA’s mission to create a more inclusive, transparent, and efficient tax system that aligns with the evolving economic […]

The Central Bank of Kenya (CBK) has announced a reduction in its base lending rate, lowering it from 12 percent to 11.25 percent, effective immediately. This decision was made during the Monetary Policy Committee’s (MPC) meeting on December 5, 2024, following a significant decline in global inflation and slower economic growth in the first half […]

National Treasury Cabinet Secretary (CS) John Mbadi has acknowledged that high taxes on salaries, particularly the Pay-As-You-Earn (PAYE) levy, are one of the primary reasons many Kenyans feel economically strained despite improvements in economic indicators. Speaking at the launch of the 2024 FinAccess Survey, Mbadi pledged to advocate for reforms to alleviate the tax burden […]