Overview of the Proposed Law The Kenyan banking sector faces significant upheaval following a proposed law to increase the minimum core capital requirement for banks from Ksh. 1 billion to Ksh. 10 billion. The proposal, tabled during discussions before the National Assembly’s Finance Committee, could result in the closure of 24 banks and put the […]

Ride-hailing app Uber Kenya has significantly influenced the country’s economy, contributing an estimated KSh 14 billion in 2023, according to its first Economic Impact Report. Launched on November 26, 2024, at the Fairmont Norfolk Hotel in Nairobi, the report details Uber’s contributions to job creation, income generation, tourism, and more. Compiled by Public First, a […]

President William Ruto has established a high-level Economic Partnership Agreement (EPA) Council to oversee the implementation of Kenya’s landmark trade deal with the European Union (EU). This move marks a significant step in deepening economic ties between Kenya and the EU, creating new opportunities for trade, investment, and sustainable development. Leadership of the EPA Council […]

Investment in advanced technology by Kwale International Sugar Company (KISCOL) has rejuvenated sugarcane farming in Kenya’s coastal region, bringing hope to over 1,500 outgrowers. This development has not only extended the sugarcane crushing season but has also aligned with the government’s long-term goals for food security and economic growth in the agricultural sector. Revitalization through […]

Kenyan President William Ruto has hailed his administration’s achievements in stabilizing the economy, citing a significant reduction in inflation as one of the highlights of his two-year tenure. Inflation dropped from 9.6% in September 2022 to 2.7% in October 2024, the lowest rate recorded in the country in 17 years. During his State of the […]

Kenya Power has unveiled an ambitious Sustainability Strategy, marking a significant step in aligning its operations with sustainable business practices to combat climate change and enhance resilience. The launch highlights the company’s commitment to environmental stewardship, responsible resource utilization, and socio-economic well-being. Overview of the Sustainability Strategy The Sustainability Strategy aims to embed sustainability into […]

The Central Bank of Kenya (CBK) has announced the release of updated Kenyan currency banknotes, incorporating changes that reflect the institution’s commitment to enhancing security and ensuring compliance with constitutional mandates. The updated denominations—Sh50, Sh100, Sh200, and Sh500—mark a significant step in the evolution of Kenya’s currency system. Key Updates in the New Banknotes The […]

In a move set to impact borrowers across Kenya, Equity Bank has announced a reduction in interest rates for all Kenya Shilling-denominated loans. This follows the Central Bank of Kenya’s (CBK) decision to lower the Central Bank Rate (CBR) from 12.75% to 12.0%. The interest rate adjustment, effective immediately, underscores Equity Bank’s commitment to aligning […]

Kenya’s government will allocate an additional KSh 2.5 billion next week to settle outstanding debts owed to hospitals and service providers by the defunct National Hospital Insurance Fund (NHIF). President William Ruto announced this initiative during a church service at Soweto Catholic Church in Embakasi East, Nairobi. This allocation builds on the KSh 5 billion […]

Kenya is poised to implement a groundbreaking shift in its tax framework with the introduction of the Tax Procedures (Amendment) (No. 2) Bill, 2024. This draft bill, published by the Kenyan Treasury, is designed to bring remote workers under the purview of the Kenya Revenue Authority (KRA), requiring all employees working for Kenyan employers—even those […]