Kenya’s economic growth slowed to a two-year low in the second quarter (Q2) of 2024, registering a 4.6% expansion compared to 5.6% during the same period in 2023, according to the Kenya National Bureau of Statistics (KNBS). This marked a decline from the 5% growth recorded in the first quarter of 2024, reflecting the increasing […]

Major stakeholders of the International Monetary Fund (IMF), led by Western nations, are urging Kenya to request an IMF assessment to address issues of corruption and governance as the country seeks to unlock crucial financial support. According to sources, disbursement of approximately $600 million under Kenya’s IMF Extended Credit Facility program has been stalled, primarily […]

In a significant overhaul of Kenya’s healthcare insurance system, the government has announced that Kenyans currently relying on the National Health Insurance Fund (NHIF) will need to re-register under the new Social Health Authority (SHA). This comes as the government aims to raise KSh 148 billion annually through deductions to support the newly established Social […]

Kenya is intensifying its efforts to transition to a low-carbon and climate-smart economy with a critical partnership between EcoSecurities and the Kenya Private Sector Alliance (KEPSA). This collaboration aims to mobilize and increase access to carbon and climate finance, supporting Kenya’s broader decarbonization agenda. EcoSecurities, a global leader in climate solutions, leverages nature, technology, and […]

The Kenya National Bureau of Statistics (KNBS) has reported a significant decline in the value of cut flower exports in June 2024. According to the latest KNBS Leading Economic Indicators report, the value of cut flowers exported from Kenya fell by 21.2%, from KSh 6.6 billion in May 2024 to KSh 5.2 billion in June […]

Kenya is reportedly on the verge of finalizing a deal with the United Arab Emirates (UAE) for a $1.5 billion loan. This financial agreement is aimed at bolstering Kenya’s fiscal position as the country grapples with a budget shortfall exacerbated by rising debt costs, political unrest, and economic pressures. According to Bloomberg, citing sources familiar […]

Kenya has made a significant step in bolstering its international economic relations by finalizing a landmark Double Taxation Agreement (DTA) with Singapore. This agreement, reached on the sidelines of the United Nations General Assembly (UNGA) in New York, marks Singapore as the 50th nation to establish such an arrangement with Kenya. The DTA aims to […]

Kenya is poised to strengthen its position as a global hub for business tourism, thanks to a strategic partnership between the Kenyatta International Convention Centre (KICC) and Kenya Airways (KQ). The collaboration, which aims to enhance the promotion of Meetings, Incentives, Conferences, and Exhibitions (MICE) tourism, marks a significant step forward for the country’s burgeoning […]

Kenyan President William Ruto issued a strong call for comprehensive reforms in global governance and financial systems during his address at the Summit of the Future’s Interactive Dialogue at the United Nations General Assembly in New York on September 22, 2024. Ruto emphasized that these reforms are essential to prevent an impending crisis that threatens […]

Safaricom, Kenya’s leading telecommunications provider, has entered into a strategic partnership with Mastercard to enhance payment acceptance and cross-border remittance services. This collaboration will benefit over 636,000 merchants using M-PESA, Safaricom’s mobile money platform, which has become a cornerstone of Kenya’s digital financial ecosystem. The partnership marks a significant step toward fostering greater financial inclusion […]