City Hall Revenue Rise by 17% to KES 4.5 Billion in Q3 2023
City Hall has recorded a significant increase of 17 per cent in its internally generated revenues, totalling KES 4.5 billion during the third quarter of the financial year ending June [...]
Kenya Set to Launch its First Operational Satellite on April 10th
Kenya is set to launch its inaugural operational satellite on April 10th, a significant milestone in its space program. The launch of Taifa-1, also known as Nation-1, is planned using [...]Kurwitu Ventures Ltd Seeks to Exit from the NSE
Kurwitu Ventures Limited, a financial firm that adheres to Shariah principles, has submitted a request to withdraw from the Nairobi Securities Exchange (NSE) following almost a decade of inactivity in [...]Safaricom Reduces Wi-Fi Prices by 40%
Safaricom has reduced the prices of their fourth-generation (4G) Wi-Fi routers of the Adrian and Huawei series by up to 40 per cent, aiming to increase the adoption of their [...]President William Ruto Announces the Removal of VAT on Exported Services
President William Ruto has announced the removal of Value Added Tax (VAT) on exported services starting July 1, 2023. According to the president, this would enhance Kenya's appeal as a [...]Kenya Signs KES 50 Billion Deal with European Commission to Build Electric Bus Rapid Lane
Kenya and the European Commission have signed a KES 50 billion (EUR 347.6 million) financing agreement to construct the first dedicated electric bus rapid lane in East Africa. The agreement [...]Kenya's new Privatization Bill set to ease sale of state-owned corporations
The Kenyan Cabinet has approved the Privatization Bill 2023, a state-sponsored bill that seeks to sell Govt-owned entities to the private sector without Parliamentary approval. The cabinet approval means the [...]Somalia to Qualify for Full Debt Relief by the End of 2023-IMF
The International Monetary Fund (IMF) has stated that Somalia will qualify for complete debt relief by the end of this year. This is due to the progress made in implementing [...]Kenya to Receive KES 130 Million from AfDB’s Electric Vehicle Fund
Kenya is set to receive KES 130 Million ($ 1 million) from the African Development Bank (AfDB) under its Green Mobility for Africa (GMFA) project. The aim of the financing [...]Ukraine Donates 30,000 Tonnes Of Wheat to Kenya
Kenya has received 30,000 metric tonnes of wheat from Ukraine, to assist families impacted by drought and famine. This donation is part of the Grain from Ukraine' (GfU) humanitarian initiative [...]Diaspora Remittances Fall by 11.5% to $ 309.2 Million in February
Diaspora Remittance inflows in February 2023 totalled USD 309.2 million compared to USD 349.4 million in January, a decrease of 11.5 per cent. The cumulative inflows for the 12 months [...]CBK Approves 62.5% Acquisition of First Community Bank by Premier Bank LTD, Somalia
The Central Bank of Kenya (CBK) has approved the acquisition of 62.5 per cent of the shareholding of First Community Bank Limited (FCB) by Premier Bank Limited, Somalia (PBLS) effective [...]
