More Pain for Consumers as Electricity Prices Rise Marginally in January
Kenyans were forced to dig deeper in their pockets as domestic electricity prices rose marginally to a new high of KES 26.39 per kilowatt-hour in January, a 0.4% rise compared [...]
Treasury Unveils Plans to Increase Excise Stamp Fees
The National Treasury and Economic Planning propose raising excise stamp fees on some goods. The treasury proposal will affect cigarettes ranging from KES 2.8 to KES 5.0, fruit juices ranging [...]
Kenya Pipeline Re-appoints Joe Sang as Managing Director
The board of Kenya Pipeline Company (KPC) has appointed Joe Sang as the acting managing director of the state corporation, returning him to the position after he was cleared of [...]Global Affairs Canada Inks KES 1.2 Billion Financing Deal for Women-led Businesses
Global Affairs Canada (GAC) is providing grants totalling KES 1.2 billion through the Africa Enterprise Challenge Fund (AECF) to women-led businesses in Kenya. The Global Affairs Canada fund aims to [...]Kenyan Shilling Declines Further Hitting a Record Low of KES 124 Against the Dollar
On Monday, Kenya shilling fell to a historic low of KES 124 against the U.S. dollar as forex traders blamed the shilling's depreciation on increased dollar demand from oil retailers [...]Relief for Kenyan Traders as Somalia Doubles Miraa Export Cap to 50 Tonnes
Somalia has allowed Kenya to more than double the volumes of miraa exported to the country, expanding opportunities for local farmers. The exports, which have now increased to 50 tonnes [...]Bolt Appoints Takura Malaba as New Manager for East and Southern Africa
Bolt, an on-demand transport platform, has appointed Takura Malaba as the new Regional Manager for East and Southern Africa, effective January 1st, 2023. He will be taking over for Kenneth [...]Kenya Power Generates KES 780 Million from Meter Reconnections
Kenya Power and Lighting company's (KPLC) revenue from the reconnection of defaulting customers to the national power grid reached a record KES 779.66 million in the fiscal year ending June [...]Hustler Fund Loan Borrowing Hits KES 14 Billion
President William Ruto's Hustler Fund has gained traction among Kenyans as it approaches two months since its launch, with the latest figures showing borrowing has reached KES 14 billion. According [...]Diaspora Remittances Defy Rising Inflation, Total a Record High KES 499 Billion in 2022
Kenyans working and living abroad sent home a record KES 498.8 billion last year, official data shows. Diaspora remittances were 8.34 per cent higher (the equivalent of KES 38.39 billion) [...]Jambojet Targets KES 10 Billion Revenue in 2023
Jambojet, the low-cost carrier, aims for KES 10 billion in revenue this year, riding on tourism's post-pandemic recovery, an improving economy, and crude oil price stability. Jambo Jet CEO Karanja [...]Firm in Race to Establish LPG Storage in Mombasa
Investors have expressed interest in the proposed liquefied petroleum gas (LPG) storage facility in Mombasa, which could become a shared pool for importers. Fossil Supplies Ltd confirmed this week that [...]
