In a bid to stimulate economic growth and attract investment, Machakos County has identified avocado, coffee, and cotton as key sectors for development. Cabinet Secretary for Investment, Trade, and Industry, Rebecca Miano, commended Machakos’ strategic focus on becoming an investment hub, aligning with the government’s economic agenda. During a roundtable discussion at the Machakos International […]

The International Monetary Fund (IMF) has adjusted Kenya’s GDP growth forecast downwards, citing external pressures as the primary cause. In their April 2024 world economic outlook report, the IMF lowered Kenya’s projected growth rate from 5.5% to 5.0% due to various factors including disruptions in global trade and escalating tensions in key regions. Impact of […]

The Kenya Private Sector Alliance (KEPSA) has partnered with The World Bank to introduce the Carbon Market Guidebook for Kenyan Enterprises in Nairobi. This guidebook offers comprehensive assistance to Kenyan enterprises across various sectors, including agriculture, waste management, forestry, manufacturing, energy, transportation, and hospitality. Dr. John Wandaka, Vice-Chair of KEPSA’s Environment, Water, and Natural Resources […]

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 […]