Winners and Losers in Kenya’s KSh 3.67 Trillion 2023/4 Budget
The Treasury Cabinet Secretary Professor Njuguna Ndung’u on Thursday evening presented the Kenya Kwanza administration’s first Budget, barely nine months after the conclusion of the 2022 General Elections that saw [...]
Live Blog: Treasury CS Njuguna Ndungu unveils Sh3.6 trillion 2023/24 Budget
Treasury Cabinet Secretary Njuguna Ndungu on Thursday afternoon presented Kenya Kwanza’s first budget of Sh3.6 trillion to the nation. This also is the first time Professor Njuguna Ndungu, a former [...]
Kenya's Stock Market Earns Title of Worst Performing Globally Amid Dollar Shortages
According to a recent report by Bloomberg, Kenya's stock market has been experiencing a significant decline, making it the worst-performing market worldwide. The primary cause behind this downturn is the [...]
Kenya’s Firms Hit Hard by Weak Shilling, High Fuel Costs May PMI Index
Kenya’s businesses suffered a record increase in the price of raw materials due to a continued weakening of the Kenya Shilling as well as rising fuel prices in May, the [...]Nation Media Group Announces Second Share Buyback Program
Nation Media Group PLC has announced its intention to initiate a second share buyback program. This move comes after the successful completion of its previous buyback program in 2021, which [...]Central Bank's CEOs Survey Reveals Improved Business Optimism Amid Concerns over Proposed Taxation in Finance Bill
The Central Bank of Kenya (CBK) recently conducted its May 2023 CEOs Survey to gauge the views and perceptions of Chief Executive Officers (CEOs) of private firms in Kenya. The [...]Central Bank of Kenya Holds Benchmark Interest Rates Steady at 9.5%
The Central Bank of Kenya has maintained the benchmark interest rate at 9.5% during its May 29th, 2023 monetary policy meeting. The bank cited the ongoing transmission effects of the [...]IMF Approves $1 Billion Financing Facility to Support Kenya's Economy
The International Monetary Fund (IMF) has reached an agreement with Kenya that could provide vital financial assistance of over $1 billion. The agreement comes as Kenya faces mounting pressure on [...]Tullow Oil Takes Full Control of Project Oil Kenya Following Joint Venture Partner Withdrawals
Tullow Oil plc, a global independent oil and gas exploration and production firm, has taken full control of the Project Oil Kenya development in Turkana County following the withdrawal of [...]BAT Group Selects Kenya as Operational Hub for 20 Markets in East and Southern Africa
British American Tobacco Group's regional office in Kenya has expanded its market scope to include Malawi, Mozambique, Angola, Zimbabwe, and Zambia, in addition to the over 15 countries it already [...]Safaricom's M-Pesa License Approval in Ethiopia Paves Way for Financial Inclusion and Innovation
Safaricom Telecommunications Ethiopia, a subsidiary of Kenya's Safaricom Plc, recently received a mobile money license in Ethiopia, marking the first time a foreign investor has been granted such a license [...]Safaricom overcomes difficult macro-environment to post strong earnings and expand operations in Ethiopia
Safaricom Plc, East Africa's largest telecommunications company, has navigated a difficult macro-environment to post strong earnings for the full year ended March 2023, despite a decline in Group net profit. [...]
