In a significant turn of events, Kenya’s financial future took a hit when the International Monetary Fund (IMF) halted its scheduled disbursement of funds after President William Ruto withdrew the contentious Finance Bill 2024. The withdrawal, a result of mounting pressure from nationwide protests, has led to a pause in the much-needed financial assistance from […]

As of 2024, it is estimated that over three million Kenyans reside in various countries around the globe, contributing significantly to the country’s economy through remittances. These remittances have been a crucial lifeline for many families in Kenya and have played a substantial role in the country’s economic stability. However, despite these contributions, many Kenyans […]

Kenya’s financial and political landscape has been thrown into turmoil following the decision by President William Ruto to rescind a highly controversial finance bill. This decision has prompted global credit rating agencies to reassess the country’s economic outlook, leading to significant downgrades that could have lasting impacts on Kenya’s economy. The most recent downgrade by […]

Kenya is poised to make a significant leap in its energy sector with the announcement of its plans to begin the construction of the country’s inaugural nuclear power plant in 2027. This initiative is part of a broader strategy to enhance the nation’s energy capacity, reduce carbon emissions, and stimulate economic growth through job creation. […]

Introduction The Central Bank of Kenya (CBK) recently disclosed that the printing of new currency notes would cost the nation Sh14.2 billion. This revelation was made by the CBK Governor, Kamau Thugge, during a session with the Finance Committee of the National Assembly, chaired by Molo MP Kuria Kimani. Governor Thugge emphasized that the tender […]

Kenya has embarked on a nationwide sensitization campaign to inform and engage the business community about the vast opportunities presented by the European Union (EU) Economic Partnership Agreement (EPA). The initiative, driven by the Ministry of Investments, Trade, and Industry, aims to unlock the full potential of the EPA by ensuring that businesses and investors […]

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 These proposals, initially withdrawn after intense public backlash, are set to return through a tax amendment bill as the government grapples with the daunting challenge of raising revenue to […]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 […]