In response to unexpected fiscal challenges arising from lower-than-anticipated tax collections, Kenya’s National Treasury has revised its domestic borrowing target for the current financial year. This adjustment comes as the government grapples with the complexities of President William Ruto’s ambitious first full-year budget of nearly Sh3.9 trillion. The latest figures reported in the Kenya Gazette […]

Latest Treasury bills auction unfolded with a remarkable uptick in investor interest, propelling one-year T-bill rates beyond the 16% mark, a significant leap from the previous week’s 15.79%. This surge was a direct response to the Central Bank of Kenya’s (CBK) strategic decision to raise its base lending rate by two percentage points during the […]

In a strategic move to bolster Kenya’s economic vitality, the World Bank has given the nod to the Kenya Jobs and Economic Transformation Project (KJET), earmarking a substantial Sh23 billion to empower the micro, small, and medium enterprises (MSMEs) sector. With a keen eye on job creation, increased private sector investments, and enhanced market access, […]

Kenyan banks are witnessing a substantial increase in dollar deposits, soaring by Sh528.56 billion over the first ten months of 2023 due to the ongoing depreciation of the Kenyan shilling against the US dollar. Central Bank of Kenya (CBK) data reveals a remarkable 57 percent surge in dollar deposits, reaching Sh1.449 trillion by the end […]

In response to the persistent issue of national blackouts, Kenya’s Energy Minister, Davis Chirchir, announced a strategic approach to combat the frequent power disruptions that have plagued the country. The move involves the consideration of localized load-shedding to address the root cause of these outages – demand surges. The most recent country-wide blackout occurred on […]

Kenya faces escalating economic challenges as recent data from the Central Bank of Kenya (CBK) underscores a decline in the nation’s competitiveness vis-à-vis East African counterparts, Uganda and Tanzania. The primary culprits behind this worrisome trend are a fall in foreign direct investment (FDI) and the depreciation of the Kenyan shilling. During a recent media […]

The Council of Governors (CoG) is leading a concerted effort to drive ‘bottom-up’ economic growth by focusing on Micro, Small, and Medium Enterprises (MSMEs) through targeted policies and programs. Governor Susan Kihika, heading the CoG Trade, Industry, Manufacturing, and Enterprise Development Committee, shared the comprehensive strategy during a recent high-profile meeting in Naivasha. Central to […]

In response to the persistent depreciation of the shilling and the resulting economic challenges, Kenya’s Central Bank has taken a measured step by announcing a significant 2 percentage point interest rate hike. This decision comes as the shilling’s decline raises concerns about inflation, obstructs foreign investment, and impacts debt servicing. This move marks the first […]

The Kenyan High Court has imposed a temporary suspension on the government’s ambitious plan to privatize 11 strategic state-owned parastatals valued at Ksh200 billion ($1.31 billion). This decision comes in response to a legal challenge mounted by Raila Odinga’s Orange Democratic Movement (ODM) party, asserting that the proposed sale warrants broader public input. Represented by […]

As Kenya’s $2 billion Eurobond approaches maturity, the secondary market witnesses a surge in volatility. Traded on the Irish stock market, the 10-year sovereign bond, launched in June 2014, has experienced weekly yield fluctuations exceeding a percentage point since November. In contrast, other Eurobond issues maturing between 2027 and 2048 have shown more modest movements, […]