Serrari Group

Kenya Initiates Talks with IMF and World Bank on Eurobond Repayment

Kenya has entered into discussions with the International Monetary Fund (IMF) and other development financial institutions to secure funding for the impending $2.0 billion (Sh297.6 billion) Eurobond repayment, due in June 2024. Facing challenges in global markets, the Kenyan government is exploring the option of obtaining a loan from these multilateral institutions to manage the […]

Share this article:

M-Shwari Records a 44% Drop in Deposits Amid Economic Challenges

M-Shwari, Safaricom’s mobile lending platform, experienced a significant drop in deposits during the year ending March 2023. Deposits plummeted by 44.1 percent, decreasing from Sh745 billion in the same period in 2022 to Sh416.7 billion. This marks the first decline in deposits since the platform’s launch in November 2013. On average, Kenyan users deposited Sh1.14 […]

Share this article:

Kenyan Imports Plummet 13.8% By $1.83bn Due to Weakened Shilling and Eroding Purchasing Power

Kenya’s imports have experienced a notable decline of almost 14% during the initial eight months of this year. This downturn underscores the significant impact of the weakening Kenyan shilling on the nation’s purchasing power. The Kenyan shilling has witnessed a substantial depreciation of 17% against the US dollar. This depreciation has made imports more expensive, […]

Share this article:

Kenyan Treasury Anticipates Sh 130 Billion in Savings through Spending Cuts

The Kenyan government has embarked on a strategic plan to reduce recurrent spending by Ministries, Departments, and Agencies (MDAs), with the aim of saving an estimated Sh130.2 billion. This move, approved by the Cabinet on Tuesday, underscores the government’s commitment to fiscal responsibility. In a press statement, the Cabinet explained that the decision to streamline […]

Share this article:

Kenya’s Central Bank Keeps Lending Rate Steady at 10.5% Amidst Inflation Concerns

The Central Bank of Kenya’s Monetary Policy Committee (MPC) decided to maintain the benchmark lending rate at 10.5% during its latest meeting, reaffirming its commitment to managing inflation within the targeted range. This decision comes after a previous rate increase of 100 basis points in June, which was implemented to counter inflationary pressures. The MPC’s […]

Share this article:

Kenya’s Low-Income Earners Struggle Amidst Escalating Cost of Living

Amidst the soaring cost of living in Kenya, low-income households find themselves grappling with the harsh realities of high inflation. A recently released report by the Kenya Institute for Public Policy Research and Analysis (KIPPRA) sheds light on the hardships endured by the nation’s less privileged citizens throughout 2022. Director of KIPPRA, Rose Ngugi, emphasized […]

Share this article:

Kenya Joins Pan African Payments System, Boosting Regional Trade

Kenya has taken a significant step toward enhancing economic stability within the African continent by formally joining the Pan African Payments and Settlement System (PAPSS). Trade Cabinet Secretary Moses Kuria made this announcement highlighting the pivotal implications of this move. The primary benefit of Kenya’s inclusion in PAPSS is that it now enables Kenyan companies […]

Share this article:

Kenya’s Debt Interest Payments Surge by Ksh 231.6 Billion Amid Weak Shilling

Kenya is facing a substantial increase in interest payments on its loans, driven by a weakening shilling. The National Treasury expects these payments to rise sharply, reaching Ksh 918.9 billion for the fiscal year ending June 2024. This marks a significant 33.7 percent increase from the previous year’s Ksh 687.3 billion. The key factors contributing […]

Share this article:

Central Bank of Kenya Seeks to Raise Sh15 Billion Through September Bonds Tap Sale

The Central Bank of Kenya (CBK) has initiated a strategic move to secure an additional Sh15 billion by reopening two September bonds. This decision comes as the fiscal agent for the government endeavors to maintain control over investor expectations and manage yields on government paper. In this offering, CBK is reopening two bonds with varying […]

Share this article: