KRA July-Nov Revenue Jumps 4.3% to Ksh1 Trillion
The Kenya Revenue Authority’s (KRA) revenue for the last five months has hit Kshs 1.005 trillion, marking a 4.3 per cent growth compared to Kshs 963.746 Billion collected in the [...]
Traditional Bank Usage Up, Mobile Bank Slightly Dips- FinAccess Survey
Traditional bank usage increased in 2024 in a year when mobile banking declined across all demographics, the 2024 FinAccess Household Survey shows. “Traditional banking saw slight increases, particularly among older [...]High Interest Rates Drive Borrowers to SACCOs
Kenyan Saccos reaped from the high interest rates on loans by commercial banks to net more customers looking for cheaper loans. Notably, rural users showed a higher preference for traditional [...]Supreme Court Reinstates KSh 1.3bn Compensation for Changamwe Lead Poisoning Victims
This week, the Supreme Court upheld the verdict by the Environment and Land Court (ELC) awarding KShs 1.3 billion to residents of Owino Uhuru village in Changamwe, as damages for [...]Safaricom Extends Mobile Money Dominance as M-Pesa Subscribers Hit 34 million
Partnerships with APIs such as the Daraja platform have enabled Safaricom's M-Pesa to broaden its integration range with Point-of-Sale (POS) systems, websites, and mobile apps, driving the number of subscribers [...]T-Bill Rates Fall Below 12% Amid CBK Jumbo Rate Cuts
Yields on treasury bills (T-Bills) have declined sharply, falling below 12% for the first time since July 2023 after aggressive interest rate cuts by the Central Bank of Kenya (CBK). [...]Kenya’s Central Bank Slashes Key Interest Rate to 11.25%
The Central Bank of Kenya (CBK) has lowered the benchmark interest rate by 75 basis points to 11.25% at its final Monetary Policy Meeting (MPC) of 2024, marking the third [...]Gov't to Monetize Health Data in New Regulations
Medical researchers are set to face hefty costs in accessing health data under the new insurance scheme if the new set of regulations under the Digital Health Act are approved. [...]Nairobi, 9 Other Counties, Spent Nothing on Development in Q1 24/25 -Controller of Budget
Nairobi is among ten counties that did not report any expenditure on development programmes in the first quarter of the Financial Year 2024/25, covering July to September 2024. Kirinyaga and [...]Spotify Reports 93% Growth in Local Consumption of Kenyan Music
Afropop musician Bien Aime Barasa has emerged as the ‘most streamed’ Kenyan music artist on streaming platform Spotify, solidifying his dominance in driving local music consumption up 93%. “Kenyan music [...]Kenya’s Private Sector Activity Rises to 6-Month High in November- Stanbic PMI
Kenyan firms saw improvement in business conditions in November, marked by improved sales as demand for goods and services increased amid stable employment, the latest Stanbic Purchasing Manager Index (PMI) [...]Kenyans Avoid Chamas as Source of Financial Advice -FinAcess Survey
Kenyans are shifting away from informal, community-based sources such as chamas for financial advice, instead seeking advice from family/friends or self-consultation. “Group/Chama usage has almost disappeared in 2024, reflecting a [...]
