Nigeria’s trade ambitions under the African Continental Free Trade Area Agreement (AfCFTA) took a significant leap forward with its first shipment to Kenya, marking a milestone in regional commerce. The Nigeria Customs Service (NCS) facilitated this historic export, with Lucky Fibres—a subsidiary of the Tolaram Group—becoming one of the inaugural companies to utilize the AfCFTA […]

Kenya is strengthening its economic ties within Africa, with trade between Kenya and other African nations rising by an impressive 26% in the first seven months of 2024. This expansion underscores the importance of intra-African trade and highlights Kenya’s commitment to deepening economic partnerships across the continent. Growing Trade with Key African Partners A recent […]

Kenya’s National Treasury and Economic Planning has recently announced a tax policy revision that will significantly impact Kenyans working remotely from overseas locations. Cabinet Secretary John Mbadi revealed that under the new policy, these remote workers will be required to obtain a Personal Identification Number (PIN) from the Kenya Revenue Authority (KRA). This move, embedded […]

In a significant policy shift aimed at economic stabilization and boosting state revenue, Kenya’s government announced the reintroduction of tax reforms on Friday. This move follows the shelving of an earlier finance bill in June that incited widespread protests and civil unrest across the country. President William Ruto’s administration, which has faced mounting pressure to […]

The International Monetary Fund (IMF) recently approved a substantial loan of $606.1 million for Kenya, marking a critical step in supporting the East African nation’s fiscal health, economic reforms, and resilience against climate-related risks. This latest financing package comes at a time when Kenya is grappling with significant economic challenges, including rising debt, inflationary pressures, […]

The International Monetary Fund (IMF) has approved the seventh and eighth reviews of Kenya’s economic program, enabling the country to access a $606 million loan tranche. This decision is a significant boost for the Kenyan government, which has faced liquidity constraints amidst a challenging socio-economic climate. The East African nation, struggling with high debt servicing […]

Kenya’s export volumes to Bavaria, Germany, are expected to reach Sh6.9 billion in 2024, marking an increase of Sh500 million compared to 2023. This surge highlights a strengthening of economic relations between the two regions, with Bavaria set to expand imports from Kenya, predominantly in agricultural products. Bavaria’s decision to raise imports from Kenya was […]

M-KOPA, a digital financial services company based in Kenya, has marked a milestone by reaching over 5 million customers in the country, according to its 2024 Impact Report. Since its founding in 2011 by Nick Hughes, Chad Larson, and Jesse Moore, M-KOPA has been on a mission to expand financial access to underserved populations. Through […]

Kenya’s high court has temporarily halted a $736 million agreement between the Kenya Electricity Transmission Company (KETRACO) and Adani Energy Solutions, a subsidiary of the Adani Group. The project, announced in early October, aimed to enhance Kenya’s power infrastructure through the construction and management of transmission lines, potentially improving electricity reliability and supporting economic growth. […]

Kenya’s digital economy is projected to add KSH 662 billion to its GDP by 2028, according to the latest GSMA report, Driving Digital Transformation of the Economy in Kenya. This growth, propelled by progressive policy reforms, is expected to foster digitalisation in sectors such as agriculture, manufacturing, transport, and trade. The report also anticipates the […]