A substantial uproar has arisen within Kenya’s banking sector as commercial banks voice their strong opposition to a government proposal aimed at raising the threshold for reporting significant cash transactions. The plan, which seeks to elevate the reporting threshold by 50 percent to $15,000 (Sh2.1 million), has ignited concerns among financial institutions regarding potential implications […]

In a striking development, Kenya finds itself grappling with an unprecedented surge in its national debt, a trend that defies President William Ruto’s assurances to curb the nation’s borrowing appetite. Recent treasury figures unveiled on Tuesday underscored a staggering increase of 1.56 trillion shillings ($10.8 billion) during the financial year ending June 30. This ascent […]

Safaricom, a pioneering force in Kenya’s telecommunications and financial sectors, has received a green light from the Central Bank of Kenya to usher in a new era of M-PESA capabilities. Starting August 15, 2023, M-PESA users can revel in expanded account and daily transaction limits of KSh. 500,000. This strategic move is projected to energize […]

In a significant move that promises to revolutionize cross-border trade, Kenya and Uganda are on the brink of introducing a brand-new Customs post at the Suam border crossing. This development marks a remarkable stride in enhancing the economic connectivity of the region. Backed by the robust support of the African Finance Development Bank and in […]

In a significant stride towards boosting agricultural productivity and enhancing livelihoods, Deputy President Rigathi Gachagua has unveiled an upcoming phase of farmer registration for fertilizer subsidy. The announcement, made during a dynamic address on Saturday, August 12, 2023, signifies the Kenyan government’s commitment to supporting its agricultural sector. Addressing a spirited crowd in the North […]

In a strategic bid to rejuvenate Kenya’s coffee production and amplify its global market presence, the government has unveiled an ambitious roadmap for the next five years. Patrick Kilemi, the Principal Secretary in the Department of Cooperatives, outlined the comprehensive plan, emphasizing the administration’s unwavering commitment to drive coffee production figures to new heights. With […]

In a bid to enhance the financial well-being of its civil service workforce, the Kenyan government has announced a substantial salary increase, effective retroactively from July 1. The decision, unveiled by Lyn Mengich, Chairperson of the Salaries and Remuneration Commission (SRC), is a testament to the government’s commitment to providing fair compensation for its diligent […]

National Assembly Speaker Moses Wetang’ula has passionately called upon Egypt to lend its influential support to the Africa Continental Free Trade Area (AfCFTA), a visionary agreement poised to reshape the economic landscape of the continent. Speaking from his office alongside Egyptian Ambassador to Kenya Wael Nasreldin Attiya, Wetang’ula highlighted Egypt’s pivotal role as a major […]

In a decisive move aimed at revitalizing Kenya’s dairy industry, President William Ruto has unveiled a bold vision to double the nation’s milk production over the next five years. The announcement, made during a momentous event in Kiganjo, Nyeri County, signals a resolute commitment to elevate local farmers’ livelihoods while propelling Kenya to the forefront […]

In a significant legal twist, the High Court today has chosen not to suspend specific sections of the Finance Act, opting instead to streamline multiple petitions that challenge the legislation’s constitutionality. The court’s ruling, announced on August 7, has both disappointed and intrigued legal observers, as it signifies a pivotal juncture in the ongoing dispute […]