Sub-Saharan Africa to Reduce its Trade Expenses by 50% to Boost Global Trade World Bank
The World Bank has cautioned that Sub-Saharan Africa (SSA) will have to reduce its trade expenses by a minimum of 50% to revitalize global trade, which has been on the [...]
Electricity Prices to Increase By 63% from April 1st
Electricity prices are set to increase by 63 per cent across all consumer categories, starting from April 1st. This will have a significant impact on households that are already struggling [...]KCB Group Posts Net Profit of KES 40.8 Billion
KCB Group PLC has recorded KES 40.8 billion in net profit for the full year ending December 2022, a 19.5% increase from KES 34.2 recorded last year due to higher [...]CBK Reopens March Infrastructure Bond to Raise KES 20 Billion
The Central Bank of Kenya (CBK) has reopened the March infrastructure bond looking to raise KES 20 billion. The sale will continue until Friday or until the desired amount is [...]Pain for Kenyans as EPRA Increases Fuel Prices by KES 2
The Energy and Petroleum Regulatory Authority (EPRA) has increased the cost of super petrol by KES 2 in the latest review of fuel prices while leaving diesel and kerosene prices [...]Standard Chartered Bank Net Profit Rise by 34% to KES 12.1 Billion in 2022
Standard Chartered Bank Kenya has released its full-year 2022 financial results, revealing a rise in net profit by 34% to KES 12.1 Billion compared to KES 9 Billion last year. [...]Kenya's Foreign Exchange Reserves Hit a New Low of $6.566 billion
Kenya's foreign exchange reserves have declined by 51 billion to KES 844.3 billion ($6.566 billion) in the past month, resulting in the lowest level witnessed in over ten years due [...]Shilling Hits New Low of KES 128.6 Against the Dollar
The Kenyan shilling hit a new low ofthe KES 128.6 mark against the US dollar, a significant drop indicating inflation and an increase in imported goods' prices. As per data [...]UK launches a New Visa Application Centre in Kenya
United Kingdom (UK) has launched a new visa application centre in Kenya which will now take 15 working days to get visas down from six weeks. Jane Marriott, the British [...]Africa's Average GDP Growth to Stabilise at 4% in the Next Two Years AfDB
African Development Bank (AfDB) projected that Africa's average GDP growth rate would remain steady at 4% over the next two years, a slight increase from the 2022 GDP growth of [...]President Ruto Signs KES 200.7 Billion Supplementary Budget
President William Ruto has signed a KES 200.7 billion Supplementary Budget (National Assembly Bill No. 4 of 2023), stating that the action will guarantee the uninterrupted provision of services to [...]Shilling Declines Further Hitting a Record Low of KES 127.08 Against the Dollar
The Kenyan shilling hit a new low of KES 127.08 mark against the US dollar, a significant drop from the 123.42 Kenya shillings per dollar recorded at the beginning of [...]
