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 […]

Kenya’s electricity distribution sector is set for a significant transformation as the Energy and Petroleum Regulatory Authority (Epra) announces plans to permit private firms to import electricity from neighboring countries for resale within Kenya. This move is aimed at introducing competition into the market, challenging Kenya Power’s dominance, and improving service delivery to consumers. Under […]

The Central Bank of Kenya (CBK) is strategically pursuing funds by targeting to raise Sh65 billion from reopened bonds. This initiative involves reopening a two-year bond alongside the tap sale of five-year and 10-year bonds, prioritizing market accessibility and efficiency. The CBK’s goal includes raising Sh40 billion from the reopened two-year bond, available for subscription […]

Recent months have brought notable changes to Kenya’s public debt profile, influenced by the strengthening of the Kenyan shilling against major currencies. As of January, the country’s total public debt stood at Sh11.248 trillion, with external debt accounting for 55 percent and domestic debt 45 percent. At the end of January, external debts surpassed domestic […]

Kenya’s economy is experiencing a resurgence, evident in a notable increase in electricity demand. Last month, demand peaked at 2,177.13 Megawatts (MW), signaling robust economic activity and heightened household consumption. During this period, local electricity generation experienced a dip, marking the second-lowest output in eight months. To meet the rising demand, Kenya bolstered its electricity […]

The Kenya Revenue Authority (KRA) faces a significant challenge in meeting its tax collection target for the current financial year, falling short by an anticipated Sh330 billion, as revealed by the Parliamentary Budget Office (PBO). Despite efforts, KRA’s collections have only reached 55 percent of the targeted Sh2.49 trillion since July last year, leaving a […]

In a significant development, Kenya’s sugar imports reached a seven-month low in February, marking a notable shift towards increased domestic production. According to the Sugar Directorate, only 42,381 tonnes of sugar were imported last month, a sharp drop from previous figures. This decline coincides with the resurgence of local production as factories resumed operations following […]

In a move to support affordable housing initiatives, the Kenya Revenue Authority (KRA) has initiated the deduction of the affordable housing levy (AHL) from March payslips, effective March 19, 2024. Under the new directive, all employers are mandated to deduct the AHL from employees’ gross salaries and contribute 1.5 percent of the employee’s gross monthly […]