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Central Bank of Kenya Leads Development of Instant Money Transfer Network
Business

Central Bank of Kenya Leads Development of Instant Money Transfer Network

The government of Kenya is fast-tracking the development of a Fast-Payment System (FPS) designed to facilitate instant money transfers between banks and non-bank providers. This initiative, led by the Central Bank of…

Jan 21, 2025
KRA Announces Triple Tax Rate Reduction on Employee Benefits
Business

KRA Announces Triple Tax Rate Reduction on Employee Benefits

On Friday, January 17, the Kenya Revenue Authority (KRA) unveiled substantial reductions in tax rates concerning fringe benefits, deemed interest, and low-interest benefits. This move aims to alleviate the financial b…

Jan 17, 2025
Kenyan Watchdog Exposes Major Money Laundering Risks in Real Estate, Casino
Business

Kenyan Watchdog Exposes Major Money Laundering Risks in Real Estate, Casino

Kenya's Financial Reporting Centre (FRC) has announced significant non-compliance with anti-money laundering (AML) measures among numerous real estate agencies and casinos in the country. This finding follows a compre…

Jan 15, 2025
School Dropout Builds Thriving Pigeon Empire in Kenya, Attracts International Filmmakers
Business

School Dropout Builds Thriving Pigeon Empire in Kenya, Attracts International Filmmakers

Mahmoud Shaban, a former high school dropout from Kenya, has transformed his life through poultry farming. His journey began in 2017 when he partnered with a local chicken farmer, initially engaging in commission-base…

Jan 14, 2025
EPRA Increases Fuel Prices Amid Economic Pressures
Business

EPRA Increases Fuel Prices Amid Economic Pressures

The Energy and Petroleum Regulatory Authority (EPRA) has announced an increase in fuel prices effective January 15, 2025, responding to ongoing economic challenges in Kenya. The new prices will see Super Petrol rise b…

Jan 14, 2025
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Mombasa's Sh1.4B Cruise Terminal Struggles with Low Ship Arrivals
Business

Mombasa's Sh1.4B Cruise Terminal Struggles with Low Ship Arrivals

Three years after the inauguration of its modern cruise terminal, the Port of Mombasa, Kenya, has not achieved its ambitious goal of becoming a leading cruise destination in the region. The facility, which boasts a lo…

Jan 9, 2025
Kenya Set to Introduce GMO Maize After Public Consultation Period
Business

Kenya Set to Introduce GMO Maize After Public Consultation Period

The National Biosafety Authority (NBA) has completed a month-long public consultation regarding the potential market introduction of Genetically Modified (GM) maize, specifically known as BT Maize. This consultation…

Jan 6, 2025
Proposed Petroleum Regulations Threaten Higher Cooking Gas Prices in Kenya
Business

Proposed Petroleum Regulations Threaten Higher Cooking Gas Prices in Kenya

Stakeholders in Kenya's Liquified Petroleum Gas (LPG) sector are expressing alarm over potential price increases as the government pushes for a regulatory overhaul aimed at enhancing industry standards and safety. The…

Jan 3, 2025
Holiday Season Brings Contrasting Fortunes for Businesses
Business

Holiday Season Brings Contrasting Fortunes for Businesses

As the festive season approaches, businesses in Nyeri are experiencing a range of sentiments. While many traders anticipate increased consumer spending typical of the holiday season, others prepare for potential finan…

Dec 26, 2024
Mombasa Port Reports 300% Surge in Transhipment Activity
Business

Mombasa Port Reports 300% Surge in Transhipment Activity

The Mombasa Port is currently witnessing a substantial surge in vessel traffic, reported by the Kenya Ports Authority (KPA) to have increased transhipment activity by an impressive 300%. This remarkable uptick in mari…

Dec 19, 2024
NEMA Implements Strict Regulations to Phase Out Ozone-Depleting Refrigerants
Business

NEMA Implements Strict Regulations to Phase Out Ozone-Depleting Refrigerants

Beginning January 2026, Kenya will cease imports of hydrochlorofluorocarbons (HCFCs) refrigerants, as mandated by the National Environment Management Authority (NEMA). This action aligns with the commitments establish…

Dec 18, 2024
EPRA Slashes Fuel Prices by Sh4.37 per Litre Ahead of Festive Season in Kenya
Business

EPRA Slashes Fuel Prices by Sh4.37 per Litre Ahead of Festive Season in Kenya

The Energy and Petroleum Regulatory Authority (EPRA) has announced a notable reduction in fuel prices in a strategic move to alleviate the financial burden on Kenyans during the festive season. This adjustment comes a…

Dec 15, 2024
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Travel Agents Challenge 16% VAT on Air Tickets, Argue Travel is No Longer a Luxury in Kenya
Business

Travel Agents Challenge 16% VAT on Air Tickets, Argue Travel is No Longer a Luxury in Kenya

The Kenya Association of Travel Agents (KATA) has launched a petition in response to the proposed 16 per cent Value Added Tax (VAT) on select air services, including air tickets issued by travel agents. KATA's leaders…

Dec 9, 2024
Kendu Bay Town Welcomes First Bank Branch After Century of Waiting
Business

Kendu Bay Town Welcomes First Bank Branch After Century of Waiting

Kendu Bay, a historic trading centre in Homa Bay County, is set to undergo an economic transition with the upcoming opening of the first bank branch in the town, Kenya Commercial Bank (KCB). The grand opening, schedul…

Dec 9, 2024
How Kenyan Hackers are Dismantling M-KOPA's Digital Financing Model
Business

How Kenyan Hackers are Dismantling M-KOPA's Digital Financing Model

Kenya’s mobile financing sector is currently grappling with challenges as it seeks to broaden digital inclusion. Despite notable advancements in providing low-income earners access to essential tools, particularly sma…

Dec 6, 2024
Kenya's Parliament Proposes eTIMS Exemption for Small Businesses
Business

Kenya's Parliament Proposes eTIMS Exemption for Small Businesses

Kenya's National Assembly Finance Committee has recommended exempting small businesses from the Kenya Revenue Authority's (KRA) electronic tax invoice management system (eTIMS). This proposal, which aims to ease the c…

Dec 5, 2024
Kenyan MPs Recommend Full Investigation of Energy Sector Irregularities
Business

Kenyan MPs Recommend Full Investigation of Energy Sector Irregularities

The National Assembly's Departmental Committee on Energy has recommended a thorough investigation into Kenya's energy sector. The move highlights excessive electricity costs that have hindered investment and exacerbat…

Dec 3, 2024
Kenya's Aviation Sector Calls for Global Standard Tax Policies
Business

Kenya's Aviation Sector Calls for Global Standard Tax Policies

The Kenyan aviation industry is facing a risk to its position as the leading air transport hub in Africa due to the reintroduction of the Value Added Tax (VAT). The Kenya Association of Air Operators (KAAO) has mounte…

Nov 29, 2024
How Cloud Seeding Saves Billions in Naivasha Flower Industry
Business

How Cloud Seeding Saves Billions in Naivasha Flower Industry

Farmers in Naivasha have implemented innovative methods to overcome the issues caused by unfavorable weather conditions on their crops. The region's vulnerability to short rains and severe hailstorms poses serious cha…

Nov 26, 2024
Kenya Welcomes Google's Massive Sh116bn Digital Transformation
Business

Kenya Welcomes Google's Massive Sh116bn Digital Transformation

A comprehensive report by Google reveals that the company's digital services generated approximately $900 million in economic value for Kenya in 2023. The analysis highlights the significant contributions of various G…

Nov 26, 2024
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