BUSINESS NEWS

President William Ruto has officially launched construction of the Vipingo Special Economic Zone (SEZ) in Kilifi County, a major industrial development expected to attract Sh390 billion in investment and create over 35,000 direct jobs. Located 42 kilometres north of Mombasa, the Vipingo SEZ covers…

Kenya’s credit scoring system is facing scrutiny as rising living costs drive increased borrowing through digital lenders, who now disburse more than Ksh10 billion each month. Speaking on NTV on Tuesday, 16 September, Sam Omukoko, Managing Director of Metropol Corporation Credit Reference Bureau,…

Businesses in Kenya are facing rising borrowing costs, driven by higher interest rates, limited access to capital, and increased competition for domestic funds. A new report by Moody’s Ratings highlights worsening credit conditions in several African economies, with Kenya, Nigeria, and South Africa…

The Kenyan government has announced plans to reform the Miraa sector by introducing cooperatives to oversee production and expand access to international markets. The Ministry of Cooperatives intends to establish dedicated Miraa cooperatives to regulate the crop’s production and trade. The move…

Kenya’s agriculture and hospitality sectors are reporting increased hiring activity, even as most other industries reduce recruitment due to rising costs and delayed government payments. Data from the Central Bank of Kenya (CBK) shows that these two sectors are among the few maintaining a positive…

Kenya’s credit rating has improved as S&P Global Ratings upgraded the country’s long-term sovereign rating from ‘B-’ to ‘B’.  This revision reflects a reduction in immediate external liquidity pressures, supported by strong economic performance, better monetary management, and increased…

Lamu County, known for its rich Swahili culture and beautiful coastline, is quickly becoming an important industrial centre in East Africa.  This change is driven by major investments in infrastructure, especially the Lamu Port, which is shifting the region’s economy from tourism and fishing…

Kenya’s hospitality sector is showing renewed strength, stabilising after a period of rapid and sometimes unpredictable growth in the wake of the Covid-19 pandemic. Recent analysis indicates that the market is now entering a more sustainable phase, moving closer to pre-pandemic norms and boosting…

Kenya's tourism sector is experiencing a significant boost this August, driven by the coinciding school holidays and the ongoing African Nations Championship (CHAN) tournament.  Hotels across the country are reporting high occupancy rates. Coastal resorts in Mombasa and Diani are currently…

The Trump administration is set to implement significant tariff increases on numerous countries, effective August 7, as part of a sweeping overhaul of US trade policy.  An executive order, signed by President Donald Trump on July 31, introduces new duties ranging from 10 to 41 percent on…