In a significant move to bolster the coastal region’s fishing industry, the government has allocated Sh1.4 billion for the development of modern fish landing sites. Spearheaded by Salim Mvurya, the Cabinet Secretary for Mining, Blue Economy, and Maritime Affairs, this initiative aims to uplift local fishing communities and ensure sustainable economic growth. The funds will […]

The Kenyan government has revealed its plan to allocate part of the recently secured US$ 1.2 billion Development Policy Operations (DPO) loan from the World Bank to address an upcoming Eurobond repayment. With a portion of the Eurobond maturing on 24th June 2024, the government intends to utilize funds from the World Bank loan to […]

Kenya’s economic outlook for 2024 shows a projected slowdown, with growth expected to reach 5%, a slight dip from the 5.6% recorded in the previous year, according to the latest report from the World Bank. The report attributes this moderation in growth to several factors, including ongoing efforts towards fiscal consolidation, a tightened monetary policy […]

Negotiations between Kenya and the United States for the Strategic Trade and Investment Partnership (STIP) have reached their sixth round, with Mombasa playing host to the discussions from June 3-7. Assistant U.S. Trade Representative Constance Hamilton is leading the American delegation, while Principal Secretary for Trade Alfred K’Ombudo heads Kenya’s team. The agenda for this […]

Kenya experienced a 4.3% decline in mineral production value, falling from Ksh 35.2 billion in 2022 to Ksh 33.7 billion in 2023, according to the latest data from the Kenya National Bureau of Statistics (KNBS). This decrease was primarily driven by a significant drop in the value of titanium ores, which fell by over Ksh […]

 President Ruto is set to embark on a significant journey to the Republic of Korea, aiming to secure a substantial Ksh. 40 billion investment to bolster Kenya’s creative economy. This visit, scheduled to commence on Sunday evening, marks a crucial milestone in strengthening ties between Kenya and Korea and fostering economic growth. The upcoming Korea-Africa […]

The Council of the European Union has officially approved the EU-Kenya Economic Partnership Agreement (EPA), marking a significant milestone in the economic relationship between Europe and Kenya. This agreement ensures Kenya’s continued tax-free access to the 27-member EU market while progressively opening Kenya to duty-free imports and European investments. Enhancing Trade and Economic Opportunities The […]

Kamau Thugge, the Governor of the Central Bank of Kenya (CBK), has been named Central Bank Governor of the Year by the African Banker Magazine. This recognition, announced during the African Bankers Awards event in Nairobi, celebrates Thugge’s pivotal role in implementing economic reforms and stabilizing the market. Under Thugge’s leadership, the CBK has achieved […]

Kenya’s economic landscape finds its cornerstone in agriculture, a fact reaffirmed by the recent unveiling of the Economic Survey 2024. Despite facing numerous challenges, the agricultural sector has emerged as the driving force behind the nation’s GDP, employment figures, and foreign exchange earnings. Del Monte Kenya stands as a key player in this narrative, playing […]

In a significant stride towards nationwide electrification, Kenya has signed a historic agreement worth Sh27 billion to extend power access to an additional 280,000 households across 32 counties. Deputy President William Ruto presided over the signing ceremony at State House Nairobi, emphasizing the importance of this initiative in aligning with Kenya’s vision of achieving universal […]