Kenya is currently in advanced discussions with the United Arab Emirates (UAE) to secure a $1.5 billion commercial loan, with an interest rate of 8.25% and a repayment period of seven years. This loan, according to Finance Minister John Mbadi, offers more favorable terms compared to previous financing methods, such as Eurobonds. The move comes […]

Kenya and Ghana are committed to strengthening bilateral trade ties as the volume of goods exchanged between the two countries continues to grow. This development comes as both nations seek to deepen economic cooperation and foster stronger intra-African trade relations. Kenya’s primary exports to Ghana include vegetable fibers, tea, and aluminum, while Ghana exports coconut […]

Kenya’s Environment Cabinet Secretary, Aden Duale, has announced an important partnership between Kenya and the Czech Republic aimed at tackling the challenges of climate change. This development follows a meeting on Monday, 14 October 2024, where CS Duale hosted Nicol Adamcová, the Czech Republic’s Ambassador to Kenya. The discussions underscored cooperation in various areas, including […]

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 […]