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Kenyan Exporters on Notice as Government Sets Strict Rules for Avocado and Mango Trade
Business

Kenyan Exporters on Notice as Government Sets Strict Rules for Avocado and Mango Trade

Kenya's Agriculture and Food Authority (AFA) has implemented restrictions on avocado exports, effective October 25, following revelations of insufficient production levels for the current season. The directive specifi…

Oct 22, 2024
Kenya's Wealthiest Depositors Revealed
Business

Kenya's Wealthiest Depositors Revealed

Less than 1% of Kenyan bank accounts held more than 500,000 Kenyan shillings last year. This indicates a lack of savings culture and increasing income inequality in the country. According to Central Bank of Kenya (CBK…

Oct 22, 2024
CBK Actions Keep Kenyan Shilling Stable Amid Global Fluctuations
Business

CBK Actions Keep Kenyan Shilling Stable Amid Global Fluctuations

The Kenyan shilling has demonstrated remarkable resilience against the US dollar, largely due to the strategic interventions of the Central Bank of Kenya (CBK). Despite the dollar reaching a two-month high earlier in…

Oct 19, 2024
JPMorgan Ignores Kenyan tycoons in African expansion strategy
Business

JPMorgan Ignores Kenyan tycoons in African expansion strategy

JPMorgan Chase, America's largest bank, has made progress in its African expansion strategy by securing approval to establish a representative office in Nairobi, Kenya. This move signals increased international intere…

Oct 18, 2024
KenGen Unveils Ambitious 10-Year Green Energy Roadmap
Business

KenGen Unveils Ambitious 10-Year Green Energy Roadmap

Kenya Electricity Generating Company (KenGen) has unveiled an ambitious 10-year strategy aimed at propelling the nation towards a sustainable, green energy future. The G2G plan, spanning from 2024 to 2034, focuses on…

Oct 18, 2024
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IMF Set to Rule on Kenya's Sh77.9B Funding Request by October 30
Business

IMF Set to Rule on Kenya's Sh77.9B Funding Request by October 30

The International Monetary Fund (IMF) is set to review Kenya's performance under their current loan program on October 30. Kenya awaits the IMF decision on a $600 million disbursement, part of a larger $3.9 billion lo…

Oct 17, 2024
High Court Adjourns JKIA Takeover Case Amid Chaotic Protests
Business

High Court Adjourns JKIA Takeover Case Amid Chaotic Protests

The High Court Judge Bahati Mwamuye was on Thursday forced to postpone the virtual proceedings in a case challenging the JKIA takeover by the Indian company Adani Group. The adjournment came after disruptive protester…

Oct 17, 2024
Kenya Steps Up Fight Against Cybercrime with Enhanced ICT Approval Process
Business

Kenya Steps Up Fight Against Cybercrime with Enhanced ICT Approval Process

The Communications Authority of Kenya (CA) has recently implemented more stringent approval procedures for Information, Communication, and Technology (ICT) equipment. This initiative is part of a broader effort to pro…

Oct 15, 2024
Kenya's Fuel Prices Drop to Lowest Point Since Early 2022
Business

Kenya's Fuel Prices Drop to Lowest Point Since Early 2022

The cost of fuel has decreased to the lowest point in 19 months due to lower import prices, which is likely to further reduce the pressure on inflation. The Energy and Petroleum Regulatory Authority (Epra) reports tha…

Oct 15, 2024
Wall Street Giant JPMorgan Chase to Join Kenya's Banking Sector
Business

Wall Street Giant JPMorgan Chase to Join Kenya's Banking Sector

JPMorgan Chase, one of the world's largest American banking conglomerates, has finally received approval to establish a representative office in Kenya. This comes nearly 12 years after initially announcing its intenti…

Oct 14, 2024
Adani Secures Sh95.7bn Contract to Manage Kenya's Power Grid for 30 Years
Business

Adani Secures Sh95.7bn Contract to Manage Kenya's Power Grid for 30 Years

Kenya's national electricity infrastructure is set to undergo a major transformation following the signing of a Project Agreement between the Kenya Electricity Transmission Company Limited (Ketraco) and Adani Energy S…

Oct 11, 2024
All Digital Payment Systems Including M-Pesa to Become Virtual ETRs
Business

All Digital Payment Systems Including M-Pesa to Become Virtual ETRs

President William Ruto's senior economic advisor Moses Kuria has provided clarification on his recent comments regarding the conversion of mobile payment systems into Electronic Tax Receipts (ETRs) by December. Initia…

Oct 11, 2024
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Malindi Airport Set for Sh5.5bn Revamp in Kenya-Italy Tourism Initiative
Business

Malindi Airport Set for Sh5.5bn Revamp in Kenya-Italy Tourism Initiative

The Italian ambassador Roberto Natali recently met with Kenya's Transport and Roads Minister Davis Chirchir and Deputy Minister Mohamed Daghar in Nairobi. The high-level dialogue focused on the development of Malindi…

Oct 10, 2024
Why Kenya Could Stop Exporting Coffee to the EU by December 2024
Business

Why Kenya Could Stop Exporting Coffee to the EU by December 2024

Kenya is racing against time to comply with the European Union's new regulations aimed at curbing deforestation and forest degradation linked to imported products, including coffee. The Kenyan government has announced…

Oct 9, 2024
From 3D to 2D: How Hackers Exploited Equity Bank's Security Flaws to Loot Sh322 Million
Business

From 3D to 2D: How Hackers Exploited Equity Bank's Security Flaws to Loot Sh322 Million

Equity Bank fell victim to a sophisticated cyber heist between April and July 2023, resulting in a loss of Sh322.1 million. The incident, which came to light during a detailed investigation by detectives, revealed a c…

Oct 5, 2024
Government Considers M-Pesa Deductions as Hustler Fund Struggles with Loan Recovery
Business

Government Considers M-Pesa Deductions as Hustler Fund Struggles with Loan Recovery

The Hustler Fund, officially known as the Financial Inclusion Fund, is grappling with significant challenges in loan recovery. Acting CEO Elizabeth Nkukuu has informed Members of Parliament that the fund has reached a…

Oct 2, 2024
Shilling Maintains Position Against Weakening Dollar
Business

Shilling Maintains Position Against Weakening Dollar

The Kenyan shilling demonstrated remarkable stability in September, maintaining a consistent exchange rate of Sh129.19 against the US dollar. This steadiness defied expectations of appreciation following the US Federa…

Oct 1, 2024
MPs to Vote on Bill Separating M-Pesa from Safaricom's Core Business
Business

MPs to Vote on Bill Separating M-Pesa from Safaricom's Core Business

The Kenya Information and Communications (Amendment) Bill, 2022 has entered its second reading in Parliament, reigniting efforts to separate mobile money services from telecommunications operations. This legislative p…

Sep 28, 2024
Starlink Launches 'Mini' Option in Kenya, Slashing Hardware Costs
Business

Starlink Launches 'Mini' Option in Kenya, Slashing Hardware Costs

American satellite internet company Starlink has expanded its offerings in Kenya with the introduction of a more affordable and portable option called 'Starlink Mini'. This new package launched globally on June 21, is…

Sep 27, 2024
Kenyan Shilling Gains Ground Against US Dollar Amid Strong Demand
Business

Kenyan Shilling Gains Ground Against US Dollar Amid Strong Demand

The Kenyan Shilling has demonstrated remarkable resilience against the US Dollar, experiencing a notable strengthening on Wednesday driven by increased demand from companies for the local currency. This surge in deman…

Sep 26, 2024
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