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New Ketraco power projects spark tendering transparency concerns

The government faces a fresh transparency challenge over new power transmission projects, as regulators seek public input after the cancellation of the Sh94.9 billion deal with Adani Group.

By 1 day ago

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Blow to Treasury as KRA misses target by Sh20b

KRA missed its tax collection target by Sh20.1 billion in July alone, the National Treasury has revealed, dealing a severe blow to President William Ruto’s economic plan.

By 1 day ago

Africa wins key seats at UN aviation body, boosts push for single air market

The success at the International Civil Aviation Organization's (ICAO) 42nd Assembly in Montreal gives Africa nearly a quarter of the seats on the 36-member ICAO Council.

By 1 day ago

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Kenya looks to China's duty-free access after Agoa pact expires

China has pledged to work with Kenya to ensure the swift implementation of zero-tariff trade treatment.

By 2 days ago

Government presses China to unlock stalled projects

Prime Cabinet Secretary Musalia Mudavadi said the government is in advanced talks with Chinese firms to unlock the mega infrastructure projects along the western corridor.

By 2 days ago

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State bans Saccos from borrowing to pay dividends

CS Wycliffe Oparanya warned that any Sacco intending to procure an external loan must now obtain written approval from the Commissioner. 

By 6 days ago

Africa cites growth in push for greater representation at UN's aviation body

African nations are making a coordinated push for greater representation on the governing council of the UN's aviation agency, arguing a stronger voice is essential to shape global rules.

By 7 days ago

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Bitter pill for tax payers as broke government rushes back to IMF

Windows to borrow domestically and from foreign lenders have shrunk. 

By 8 days ago

Research hub launched to bridge skills gap

A Princeton University-linked initiative has launched a major research hub in western Kenya designed to directly address the critical skills gap hindering economic growth.

By 10 days ago

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Why KRA is after Netflix, ChatGPT and Airbnbs

From Netflix to ChatGPT, global digital platforms now face direct taxation on income from Kenyan users.

By 9 days ago

How a free Nairobi medical camp exposed Kenya's reproductive health crisis

A total of 116 of the 180 attendees sought out gynecological care, while breast surgery and dermatology were the next most sought-after services

By 10 days ago

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Jobs worry as soap maker PZ Cussons mulls over Kenya future

British consumer goods company PZ Cussons, has launched a strategic review of its operations in Kenya, raising concerns over the future of local jobs.

By 11 days ago

Princeton-backed innovation hub launches in Kenya to plug skills gap

PASER aims to create a new model for development where municipalities and devolved governments use data-driven research to train a new generation of professionals and attract investment.

By 10 days ago

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Tea farmers appeal for UK law to promote justice and fair pay

More than 250 Kenyan tea farmers and workers are calling on the UK government to introduce new mandatory Human Rights and Environmental Due Diligence (HREDD) legislation.

By 11 days ago

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Kenya faces sobering debt crisis reality after Eurobond high

While the risk of immediate default after the repayment of the Sh260 billion debt may have receded, the underlying structural problems remain.

By 12 days ago

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Why global ratings agency is doubting Mbadi's debt strategy

Kenya’s growing debt has caught the eye of authorities including Controller of Budget.

By 14 days ago

Banks ink Sh107b deal to fund Kilifi's special economic zone

KCB Group and the Afreximbank have signed a Sh107 billion joint funding agreement to operationalize the Vipingo Special Economic Zone. 

By 14 days ago

StanChart Kenya warns profit fall due to Sh7b pension payment

Tier one lender, Standard Chartered Bank Kenya Ltd, has projected at least a 25 per cent fall on its 2025 full-year net profit.

By 17 days ago

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Trump administration seeks views on Kenya trade barriers despite AGOA snub

The US Trade Representative (USTR) is soliciting comments from American businesses on trade barriers they face in Kenya

By 16 days ago

Kweli Capital acquires Old Mutual Securities in brokerage push

Kweli Capital Limited, an East African technology-driven investment company, has acquired a majority stake in Old Mutual Securities Limited.

By 17 days ago

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How high borrowing costs compound Kenya's debt challenges

Moody's has sounded an alarm that the Kenyan government is currently battling sharply high borrowing costs, which are worsening fiscal strains and limiting credit availability for private businesses.

By 17 days ago

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Why diaspora remittance is drying up

Many Kenyan homes depend on these revenue and any slight change is expected to have a major impact on so many lives.

By 18 days ago

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Firms pull out all stops to pamper top CEOs amid fierce talent war

Blue-chip companies are sparing no expense to retain and attract top executive talent, with lavish compensation packages for CEOs becoming the norm.

By 19 days ago

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Why your favourite tipple is likely to be fake

East African Breweries Ltd (EABL), the region’s leading alcoholic beverage company, is grappling with an unprecedented rise in counterfeit and illicit alcohol.

By 19 days ago

Big banks have lowest loan rates: CBK data

Stanbic Bank Kenya, a unit of South Africa’s Standard Bank Group, at 12.30 per cent; Standard Chartered Bank Kenya at 12.81 per cent; and Ecobank Kenya at 12.87 per cent. 

By 21 days ago

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Deep-pocketed foreign banks beat Kenyan rivals with cheaper loan rates

Kenyan units of global banking giants are offering the country’s most competitive lending rates, using their expansive capital bases to undercut domestic rivals.

By 22 days ago

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Ruto banking on China's backing to test Trump and rewrite the rules at UNGA

Ruto heads to UNGA determined to spearhead calls for reforms at the world body, buoyed by Chinese President Xi Jinping’s fresh appeal for a ‘more just and equitable’ global governance system.

By 22 days ago

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'They ate our lunch': How Hustler Fund, digital lenders have killed Kenya's micro finance banks

Kenya’s microfinance banks (MFBs), once hailed as critical vehicles for financial inclusion, are now the weakest link in the country’s banking sector, with six consecutive years of losses.

By 23 days ago

Paratus group expands East Africa footprint with high-speed fibre connectivity

The move signals a strategic bid to capture a share of East Africa’s rapidly growing digital economy, which Euromonitor forecasts will account for 29 per cent of Africa’s total GDP by 2040.

By 23 days ago

'This is my plea': Exiting Afreximbank chief calls on African banks to close trade finance gap

Oramah expressed particular frustration at the absence of African development banks, commercial lenders, and credit insurers.

By 23 days ago

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12 banks face merger over Sh20b capital crunch

Up to a dozen Kenyan banks face mergers, acquisitions or collapse unless they raise a collective Sh19.8 billion in capital by year-end, a new report by the Central Bank of Kenya has indicated. 

By 24 days ago

Afreximbank pledges $2 billion to boost African county governments' role in trade

Afreximbank, will provide $2 billion in financing to sub-national governments to help drive economic development and trade, its president said on Friday.

By 25 days ago

Algeria courts Kenya in bid to deepen trade ties

Gas-rich Algeria is intensifying efforts to boost trade with Kenya and other African nations as it positions itself to capitalise on the African Continental Free Trade Area (AfCFTA).

By 25 days ago

African traders urged to adopt transit bond scheme to cut costs

The African Continental Free Trade Area (AfCFTA) Single Bond Guarantee Scheme offers a viable solution to long-standing logistical and financial barriers hampering intra-African trade.

By 25 days ago

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Inside Ruto's new Sh206b JKIA upgrade plan after Adani deal flop

A confidential Cabinet briefing document shows KAA will now engage bilateral and multilateral financiers, including the World Bank’s IFC and the African Development Bank.

By 27 days ago

State moves to rein in wayward telcos with new competition rules

The government has introduced a new tough set of competition rules that promise to reshape the country’s telecommunications landscape.

By 27 days ago

Kenyan governors pitch regional mega-projects at African trade forum

Kenyan governors pitched for local mega-projects they say are crucial for unlocking economic growth and reducing the continent's reliance on foreign aid.

By 27 days ago

Kenya urges Africa to tap private funding for infrastructure

"With shrinking fiscal space for debt, including foreign debt, we must pioneer innovative ways for raising revenue. One model that has proven successful is public-private partnerships," Kindiki said.

By 28 days ago

Outgoing Afreximbank boss roots for Africa's economic independence

Oramah called for Africa to achieve full economic independence through increased trade and self-financing, as the fourth Intra-African Trade Fair (IATF) opened on Thursday in Algiers.

By 28 days ago

Galana Energies pledges social investment as it marks 25-year milestone

The homegrown company said the commitment through its Galana Foundation would focus on scaling its scholarship programme, which has so far supported more than 80 students entering high school.

By 29 days ago