KRA to Monitor Beer, Petrol, and Airtime Sales in Real-Time
Kenya Revenue Authority (KRA) is taking measures to prevent tax evasion by implementing real-time monitoring of the sale of goods and services subject to excise tax law, such as beer, [...]
Treasury Clarifies Govt has no Intention to Abandon KES 610 Billion Tax Refunds
The National Treasury has affirmed that the government does not plan to forgo tax refunds totalling KES 610 billion, despite the announcement by Kenya Revenue Authority to halt all payments [...]Parliamentary Committee Approves Susan Koech Appointment as CBK's Deputy Governor
The Finance and Planning Committee has approved Susan Jemutai Koech's appointment as the second Central Bank of Kenya (CBK) deputy governor. According to the parliamentary committee, Dr Koech fulfilled all the [...]Govt Picks Five Local Banks to Issue Letters of Credit of KES 614.89 Billion for Fuel Importation
The Government has selected five local banks to issue letters of credit of KES 614.89 billion for fuel importation from the United Arab Emirates over a nine-month period. According to [...]Kenya Set to Import Fuel from UAE as Crisis Looms on Dollar Shortage
Kenya plans to start importing fuel from the United Arab Emirates from next month following a deal with the Middle East government to delay payments for oil imports by up [...]
Govt Partners with Saccos in New Hustler Fund Phase
The government has partnered with savings and credit co-operative societies (Saccos) as the preferred vehicles for development in the disbursement of the hustler fund loan through the launch of a [...]Govt Plans to Hand Over Nairobi Coffee Exchange Operations to CMA
The government is considering to handover Nairobi Coffee Exchange (NCE) operations to Capital Markets Authority (CMA). According to Simon Chelugui, the Cooperative Cabinet Secretary, the NCE's new reforms will increase [...]Inter-Bank Rate Rises to 6.88%
Central Bank of Kenya (CBK)data shows the inter-bank rate surged to 6.88%, reaching its highest level since December 10, 2019, when it was recorded at 6.77%. This has caused a [...]Business Activity in Kenya Declines in February on Currency and Tax Concerns-PMI
Kenya's business environment experienced a decline in February for the first time in six months, causing concerns about potential job losses as households and businesses reduced their spending due to [...]Lipa Later Partners with Mombasa County to Digitize SMEs
Lipa Later Kenya has partnered with Mombasa County, aiming to digitize small and medium enterprises, facilitating their access to a nationwide market and providing financial services to SMEs and consumers. [...]EU Grants Kenya KES 6 Billion for Refurbishment of the Olkaria Geothermal Power Plants
The European Union (EU) has granted Kenya KES 6 billion to refurbish Olkaria I and IV power plantsin Naivasha. The action will contribute to the government's objective of boosting the [...]President Ruto Announces 80% Reduction in Gas Cylinder Prices
President William Ruto has announced that the government will implement a subsidy on gas cylinder prices starting from the upcoming fiscal year, with the goal of promoting the adoption of [...]
