The International Monetary Fund (IMF) has approved the seventh and eighth reviews of Kenya’s economic program, enabling the country to access a $606 million loan tranche. This decision is a significant boost for the Kenyan government, which has faced liquidity constraints amidst a challenging socio-economic climate. The East African nation, struggling with high debt servicing […]

Kenya’s export volumes to Bavaria, Germany, are expected to reach Sh6.9 billion in 2024, marking an increase of Sh500 million compared to 2023. This surge highlights a strengthening of economic relations between the two regions, with Bavaria set to expand imports from Kenya, predominantly in agricultural products. Bavaria’s decision to raise imports from Kenya was […]

M-KOPA, a digital financial services company based in Kenya, has marked a milestone by reaching over 5 million customers in the country, according to its 2024 Impact Report. Since its founding in 2011 by Nick Hughes, Chad Larson, and Jesse Moore, M-KOPA has been on a mission to expand financial access to underserved populations. Through […]

Kenya’s high court has temporarily halted a $736 million agreement between the Kenya Electricity Transmission Company (KETRACO) and Adani Energy Solutions, a subsidiary of the Adani Group. The project, announced in early October, aimed to enhance Kenya’s power infrastructure through the construction and management of transmission lines, potentially improving electricity reliability and supporting economic growth. […]

Kenya’s digital economy is projected to add KSH 662 billion to its GDP by 2028, according to the latest GSMA report, Driving Digital Transformation of the Economy in Kenya. This growth, propelled by progressive policy reforms, is expected to foster digitalisation in sectors such as agriculture, manufacturing, transport, and trade. The report also anticipates the […]

The International Monetary Fund (IMF) has revised down Kenya’s economic growth forecast for 2024 and 2025, reflecting deepening fiscal challenges and persistent headwinds affecting the broader Sub-Saharan African region. The latest projections from the IMF’s World Economic Outlook (WEO) indicate that Kenya’s GDP will grow by just 5.0 percent in both 2024 and 2025, nearly […]

In a significant ruling, Kenya’s High Court has upheld the validity of President William Ruto’s housing levy, a contentious tax measure aimed at generating funds for the construction of affordable homes. This decision marks a victory for Ruto’s administration in its efforts to address Kenya’s housing deficit and steady its finances amid a challenging economic […]

Treasury Cabinet Secretary John Mbadi is leading a delegation of high-ranking Kenyan officials to the United States for a five-day engagement with the International Monetary Fund (IMF) and the World Bank. These meetings, taking place in Washington, D.C., aim to deepen Kenya’s partnerships with these international financial institutions and address critical economic challenges. According to […]

Kenya and South Korea have taken their six-decade-long diplomatic relationship to new heights, signing a landmark Memorandum of Understanding (MoU) aimed at transforming key sectors such as agriculture, energy, and technology. This agreement is expected to foster innovation, improve food security, and strengthen trade between the two nations, marking a significant step toward deeper collaboration. […]

Kenya is currently in advanced discussions with the United Arab Emirates (UAE) to secure a $1.5 billion commercial loan, with an interest rate of 8.25% and a repayment period of seven years. This loan, according to Finance Minister John Mbadi, offers more favorable terms compared to previous financing methods, such as Eurobonds. The move comes […]