Kenya’s economic landscape is brightening as the Kenya shilling achieves a year-high against the U.S. dollar, reaching an impressive rate of 130. This surge, alongside other positive economic indicators, has ignited optimism among the nation’s business leaders, projecting a promising economic performance for 2024. The optimism stems from a convergence of factors: the notable easing […]

The World Bank has released its latest Africa’s Pulse report, projecting a steady 5% growth for Kenya’s economy in 2024. This growth is attributed primarily to heightened investment activity following restored access to international capital markets. Key factors driving this growth include: However, while the World Bank’s forecast aligns with ongoing economic recovery trends, it […]

The Central Bank of Kenya (CBK) forecasts a resurgence in imports for the current year, driven by a stabilized exchange rate and improved dollar availability compared to the previous year. This projection comes as the apex bank anticipates an 11 percent growth in imports, following a decline observed last year due to challenges in accessing […]

In a notable development, interest rates on all three Treasury bills have experienced a decline, marking the first such occurrence in over two years. During the most recent Treasury bill auction, the weighted average interest rates of accepted bids saw a slight downturn. Specifically, rates for the 91-day, 182-day, and 364-day papers fell to 16.7243 […]

The Central Bank of Kenya (CBK) successfully raised Sh45.8 billion from the recent reopening of five and 10-year bonds, surpassing the target of Sh25 billion. Investor interest was robust, with total bids reaching Sh47.7 billion in the auction that concluded on Thursday. The five-year paper attracted bids of Sh35.5 billion, while the 10-year bond secured […]

The World Bank Group has announced a revised financing plan for Kenya, reducing the anticipated funding by Sh39 billion. Initially projected at Sh197 billion ($1.5 billion), the new allocation stands at Sh157.7 billion ($1.2 billion) for the current fiscal year ending in June. Central Bank Governor Kamau Thugge had previously hinted at a significant financing […]

The Nairobi Securities Exchange (NSE) is set for a significant resurgence following the lifting of restrictions by leading global index provider, Financial Times Stock Exchange (FTSE) Russell Index. This pivotal decision, spurred by improved access to dollars in the forex market, is poised to revitalize investor confidence in the Kenyan capital market. In 2022, FTSE […]

Kenya’s electricity distribution sector is set for a significant transformation as the Energy and Petroleum Regulatory Authority (Epra) announces plans to permit private firms to import electricity from neighboring countries for resale within Kenya. This move is aimed at introducing competition into the market, challenging Kenya Power’s dominance, and improving service delivery to consumers. Under […]

The Central Bank of Kenya (CBK) is strategically pursuing funds by targeting to raise Sh65 billion from reopened bonds. This initiative involves reopening a two-year bond alongside the tap sale of five-year and 10-year bonds, prioritizing market accessibility and efficiency. The CBK’s goal includes raising Sh40 billion from the reopened two-year bond, available for subscription […]

Recent months have brought notable changes to Kenya’s public debt profile, influenced by the strengthening of the Kenyan shilling against major currencies. As of January, the country’s total public debt stood at Sh11.248 trillion, with external debt accounting for 55 percent and domestic debt 45 percent. At the end of January, external debts surpassed domestic […]