Kenya’s new finance minister, John Mbadi, has announced the reintroduction of several controversial tax proposals that had previously sparked widespread and deadly protests across the nation. These proposals, initially withdrawn after intense public backlash, are set to return through a tax amendment bill as the government grapples with the daunting challenge of raising revenue to […]

In 2023, Kenya’s banking sector witnessed an unprecedented surge in interbank borrowing, with banks lending a record Sh577 billion to each other, a significant leap from previous years. This development, highlighted in the latest report by the Kenya Bankers Association (KBA), underscores the increasingly challenging financial environment that has characterized the sector. Rising interest rates, […]

As Kenya approaches a critical juncture in its trade relations with the United States, the country is racing against time to finalize a Strategic Trade and Investment Partnership (STIP) agreement. With the U.S. presidential elections looming, the stakes have never been higher for Kenya, which risks having its progress on the deal derailed depending on […]

The Central Organization of Trade Unions (COTU) has sounded a warning to the newly-appointed National Treasury Cabinet Secretary, John Mbadi, urging him to exercise caution in his dealings with the International Monetary Fund (IMF). COTU Secretary General Francis Atwoli specifically cautioned against adopting a “rigid approach” in implementing IMF economic and financial adjustments without tailoring […]

A recent survey by Sauti za Wananchi has revealed that half of Kenyans are deeply concerned about the rising cost of living, identifying it as the most pressing issue currently facing the nation. The survey, which highlights the economic challenges that millions of Kenyans are grappling with, indicates that inflation and the overall economic situation […]

The recent Isiolo, Marsabit, and Samburu County Investment Conference has highlighted the immense potential of the northern Kenya region, with infrastructure development seen as a key catalyst for economic growth. Traditionally marginalized, this region is poised for a transformation, with planned infrastructure projects expected to unlock the area’s economic potential, create jobs, and attract investment. […]

The Kenyan government is taking significant steps to acknowledge and enhance the role of village elders in governance and community development. A new policy framework has been proposed, aiming to provide a monthly allowance of up to Sh7,000 for village elders across the country. This initiative is seen as a crucial move to formalize and […]

In a strategic move aimed at bolstering the growth of Small and Medium Enterprises (SMEs) in Kenya, the East African Development Bank (EADB) has announced a significant partnership with four key financial institutions. These institutions—Sidian Bank, HF Bank, Development Bank of Kenya (DBK), and Kenya Women’s Finance Trust Microfinance Bank (KWFT)—are set to channel Sh892 […]

Kenya’s economy is navigating through uncertain global waters, but the Central Bank of Kenya (CBK) remains cautiously optimistic. Recently, the CBK adjusted its economic growth forecast for the country, slightly lowering it from 5.7 percent to 5.5 percent. This revision, though modest, highlights the dynamic challenges and necessary adjustments within Kenya’s economic landscape. Governor Dr. […]

In a development that has stirred both excitement and speculation in financial circles, Kenya’s central bank has made a surprising move by cutting its benchmark interest rate for the first time in over four years. The Monetary Policy Committee (MPC) of the Central Bank of Kenya (CBK) announced on August 6, 2024, that it has […]