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, […]

The Kenya Mortgage Refinance Company (KMRC) has unveiled plans for a groundbreaking initiative – the Risk Sharing Facility (RSF). This initiative is designed to empower households in the informal sector, which constitutes an impressive 83.39 percent of Kenya’s workforce, by facilitating their access to home loans from banks and savings and credit cooperatives (saccos). The […]

Morgan Stanley Capital International (MSCI) has dealt a blow to Kenya’s global market aspirations by blocking new companies from joining its stock market platform. The move, influenced by concerns over dollar shortages and financial instability in Kenya, extends a freeze initiated by MSCI in August 2022, affecting not just Kenya but also Bangladesh, Egypt, and […]

President William Ruto’s financial plans faced a setback as a Kenyan court declared the 1.5-percent housing levy on taxpayers, aimed at funding an affordable housing program, illegal. The ruling, delivered by a three-judge panel at the High Court in Nairobi, emphasized the absence of a comprehensive legal framework for the tax and criticized its exclusion […]

In a significant development, the Kenya Revenue Authority (KRA) has reported an impressive revenue collection of Sh18.7 billion as of October 2023, attributed to the flourishing trade activities between Kenya and Japan. Commissioner General Humphrey Wattanga highlighted Japan’s growing importance in Kenya’s economic landscape, noting a substantial increase in trade volume during 2023. Detailing the […]

In a move to enhance operational efficiency and untangle bureaucratic complexities, President William Ruto has revealed Kenya’s intent to privatize 35 state-owned enterprises. This strategic decision harmonizes with recent legislative amendments, as President Ruto’s government recently enacted a revised privatization bill, simplifying the transition of state entities into private hands. Speaking at an official event […]

The Kenya shilling is displaying signs of resilience, with its monthly free fall slowing to a modest one percent, a noteworthy improvement from the steep 4.3 percent decline witnessed in March. The recent stabilization follows a directive from the Central Bank of Kenya (CBK), which sought explanations from ten banks for what appeared to be […]

Kenya is anticipating a surge in fuel and electricity costs as the Statute Law (Miscellaneous Amendments) Bill, 2023 proposes doubling the Energy and Petroleum Regulatory Authority’s (EPRA) levy from 0.5 percent to a maximum of 1 percent. The amendment, presented by Majority Leader Kimani Ichung’wah, aims to enhance EPRA’s operational capacity, with potential consequences for […]