Kenya has raised the bond fee for fuel imports destined for Uganda, doubling it from $15 million to $45 million at the Vitol Tank Terminal International (VTTI) in Mombasa. This move, aimed at securing tax revenue in case imported fuel meant for transit is diverted to local markets, poses a significant challenge to Uganda’s efforts […]

In a significant effort to enhance socio-economic development, the Kenyan government has successfully facilitated job placements for hundreds of teachers in the United States. This initiative is part of a broader strategy to connect Kenyan professionals with international opportunities. The teachers were officially sent off during a flag-off ceremony attended by several high-profile government officials. […]

Following widespread protests and significant political developments, Kenyan President William Ruto recently engaged in discussions with International Monetary Fund (IMF) Managing Director Kristalina Georgieva. Sources familiar with the matter revealed that the conversation occurred shortly after President Ruto decided to withdraw a proposed $2.7 billion tax increase, a decision aimed at calming civil unrest that […]

Kenya’s economy grew by 5.0% in the first quarter of 2024, a slight decline from the 5.5% growth recorded in the same period last year, according to a report by the Kenya National Bureau of Statistics (KNBS) released on Wednesday. Key sectors contributing to this growth included agriculture, forestry and fishing, real estate, financial and […]

Kenya’s economic prospects are under scrutiny as the country grapples with recent anti-government protests that disrupted business activities across major cities. Spanning from June 18 to June 27, these protests have heightened concerns about Kenya’s economic stability, impacting investor confidence and leading to a 0.29 percent depreciation of the Kenyan shilling. The protests have exacerbated […]

Kenyan President William Ruto has announced plans to increase borrowing in response to the recent rejection of a finance bill aimed at boosting tax revenue. Following deadly protests and the subsequent withdrawal of the bill, Ruto emphasized in a televised interview that its failure has hindered government efforts to manage Kenya’s mounting debt, which currently […]

In a recent forum, experts highlighted the crucial synergy between Micro, Small, and Medium Enterprises (MSMEs) and the burgeoning e-commerce sector as pivotal to Kenya’s economic growth trajectory. Kenya’s economy thrives on its diverse MSME sector, encompassing over 7.4 million enterprises across key industries such as agriculture, logistics, and services. These enterprises, predominantly led by […]

Kenya faces mounting economic uncertainties following President William Ruto’s decision to retract support for a controversial finance bill amid widespread public outcry and violent protests. The bill, designed to generate 346 billion Kenyan shillings ($2.68 billion) through new taxes on essential goods and services like bread and mobile-money transfers, was a crucial component of Kenya’s […]

President William Ruto has sent a contentious finance bill back to parliament for revisions, following nationwide protests that have resulted in at least 23 deaths and numerous injuries. The bill, intended to generate an additional $2.7 billion through tax hikes, has faced significant public opposition. Reports from local media, including Kenya’s Star newspaper and KTN […]

The majority of amendments to the Finance Bill, 2024 have been successfully adopted by the House, following a session led by Deputy Speaker Gladys Shollei. These amendments, introduced by Kuria Kimani, Chairperson of the Finance and Planning Committee, mark a significant step in addressing the public’s concerns and legislative scrutiny. Significant Amendments Passed The session […]