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 […]

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 […]