Kenya's Formal Employment Surges to 3.2 Million Amid Shift Toward Services, Education
Formal wage employment in Kenya rose steadily from 2.74 million in 2020 to 3.21 million in 2024, reflecting broad-based growth across both private and public sectors,
20 Counties Spend Zero on Development as Salaries Dominate
Twenty county governments reported zero development expenditure during the quarter, effectively postponing capital investment entirely.DTB, Equity, KCB Reset Loan Pricing After CBK Cuts Policy Rate to 9%
The three banks’ updates show a fast alignment of retail and business lending to the CBR.
Kenya’s Private Sector Credit Rises to KSh 4.15Trillion on November Growth
Private sector credit rose 6.3 percent YoY to a record KSh 4.15T in November 2025, reversing the January contraction and signalling a clear shift in Kenya’s credit cycle. Lending rates fell to 14.9 percent as the Central Bank cut the policy rate to 9 percent. Banks reported stronger liquidity and steady credit standards in Q3, while the NPL ratio eased to 16.5 percent from the mid-year peak.CBK Extends Record Easing Run With Ninth Straight Interest Rate Cut
Central bank of Kenya cut its benchmark rate for a ninth straight meeting, lowering the Central Bank Rate to 9% as stable inflation and a firm shilling gave policymakers room to extend the longest easing cycle in the bank’s history. FX reserves rose to 12.1 billion dollars and credit growth improved. The MPC said growth is strengthening and highlighted the upcoming transition to a KESONIA-linked pricing framework that will tighten the link between policy and lending rates.Central Bank Raises KSh 47.11 Billion in December Bond Sale
Kenya raised KSh 47.11Bn in the December reopening of the 30-year SDB and 25-year FXD after receiving KSh 53.13Bn in bids. The FXD dominated demand, securing KSh 43.21Bn, while the SDB drew limited interest for the second month. Net funding reached KSh 21.91Bn, extending a front-loaded borrowing cycle that has pushed accepted bids past KSh 585Bn in FY25/26.Private Sector Hiring Rebounds, Stanbic PMI Hits Five-Year High
Kenya’s private sector recorded its strongest hiring momentum in more than a year in November as firms rushed to expand capacity amid a sharp rebound in demandGovernment Tenders to Special Groups Double to KSh 57bn in Two Years — KNBS
The overarching trend reveals a programme heavily shaped by fiscal cycles. When government liquidity tightens, AGPO shrinks; when spending resumes, allocations rise.Treasury Settles KSh 29.7Bn Tax-Free 2022 IFB, FY25/26 First-Half Redemptions Reach KSh 139.6Bn
The treasury settled the tax-free IFB1/2022/006 today, paying KSh 29.7B in interest and principal. This pushes FY25/26 maturities to KSh 139.6B so far, driven by the large August redemption of FXD1/2023/002 and September’s IFB1/2013/12 payout. Another KSh 25.2B falls due on 8 December across three FXD2/2010/15 tranches.Food Inflation is Still Kenya’s Biggest Pressure Point
Kenya’s inflation eased slightly to 4.5% in November 2025, but food prices remained the biggest pressure point. While overall CPI rose just 0.2% month-on-month, key staples recorded notable increases: onions up 4.9%, kale up 2.7%, and beef up 1.5%. Food inflation stood at 7.7% year-on-year, contributing more than half of total inflation. Electricity costs declined and fuel prices remained unchanged, helping stabilize overall inflation, but the data shows household budgets continue to feel the most strain from everyday food items.State House, Security, Social Programs, Lead In Spending Spree On Wages
High early spending by these entities points to the likelihood of additional funding next year to support its obligations, defeating the government's promise for austerityKenya Retires KSh 20Bn at Deep Discount in Overbid Buyback of May 2026 Bond
Kenya retired KSh 20.08Bn of the FXD1/2023/003 bond after KSh 34.30Bn in bids, clearing at a 7.8019% yield.
