As the urgency of climate change grows, African nations aim for a bigger share of the $2-billion carbon credit market, projected to expand fivefold by 2030. Currently, Africa contributes just 11% of global carbon offsets despite its vast carbon-absorbing ecosystems. Kenyan President William Ruto, hosting the Africa Climate Summit, sees Africa’s carbon sinks as an […]

Sugarcane stakeholders hailing from the Nyando sugar belt have vehemently rejected the national government’s proposal to merge Chemelil and Muhoroni sugar companies into a single entity as part of sweeping reforms within the sugar sector. In a decisive stand taken prior to their appearance before the National Assembly committees on finances, national planning, agriculture, and […]

In a sweeping proposal, President William Ruto has introduced a plan to require every Kenyan household to allocate 2.75 percent of its income towards a new social healthcare fund. This initiative aims to revamp the healthcare system and provide a stable source of funding for the government. However, it will impact the monthly incomes of […]

As the clock ticks closer to September 1, the business landscape braces for the impact of the second round of taxes introduced through the much-debated Finance Act 2023. The ripple effects of these new measures are set to reverberate across various sectors, including cement, steel, paper, digital and creative industries, and entertainment. Digital Assets Tax […]

In a significant move aimed at reshaping Kenya’s energy landscape, Members of Parliament (MPs) are pushing forward with a proposal to dismantle the monopoly held by Kenya Power. The plan, gaining momentum, seeks to introduce Independent Power Producers (IPPs) into the market, allowing them to directly sell tokens to consumers. The primary goals are to […]

Kenya’s energy sector faces a pivotal juncture as the government deliberates on the fate of its government-to-government (G-to-G) fuel import deal with Gulf nations. This Wednesday, a decision is expected to be unveiled that could reshape the country’s approach to energy procurement. Initiated earlier this year, the deal aimed to mitigate dollar pressure and provide […]

President William Ruto addressed a gathering during an interdenominational service in Bungoma County, pledging his administration’s commitment to resolving the long-standing challenges facing the sugar industry in the Western region. “We are dedicated to addressing the persistent issues affecting the sugar sector in this region. I assure you that we will work towards a comprehensive […]

In the first half of 2023, a remarkable shift has been observed in the borrowing habits of Kenyan individuals, with the Fuliza digital lending platform taking the lead. A daily average of more than Sh2.2 billion is being borrowed through Fuliza, underlining the increasing reliance on modern digital financial solutions. This trend is reflected in […]

In a bid to stabilize the Kenyan shilling against external pressures, the government has outlined an ambitious goal: to elevate the country’s foreign exchange reserves to a level equivalent to 6.1 months of import cover. This strategic move is a cornerstone of the Medium-Term Plan 4, a pivotal phase in the realization of Vision 2030. […]

Kenyans abroad have shattered expectations by sending an unprecedented Sh54.6 billion ($378.1 million) back home in July 2023, marking a remarkable surge in remittances amidst global economic uncertainties. In a surprising turn of events, the Central Bank of Kenya (CBK) has reported that remittances from Kenyans living abroad have reached an all-time high, defying inflation […]