Business
AfDB: Kenya losing Sh194 billion annually to graft and tax loopholes
In addition, tax exemptions and incentives are causing a further revenue loss of Sh105 billion each year.
Business
Business
IMF concludes Kenya Governance review, report expected by year-end
The outcome of the mission will be a detailed report capturing the team’s findings and offering recommendations to guide the country forward.
Business
Ruto confirms Kenya Pipeline Company to be listed on NSE via IPO in 2025
President Ruto said the move is part of a broader strategy to expand the country’s capital markets and attract private investment into key state-owned enterprises.
Business
Interest rates cut as CBK targets cheaper credit and economic growth
The Monetary Policy Committee (MPC) said the decision was aimed at encouraging more borrowing by the private sector to stimulate economic activity. However, while borrowing is becoming cheaper, returns on savings have dropped.
Business
Six more Kenya Airways flights added as Ruto, Starmer sign key agreement
This decision, announced following a meeting between President William Ruto and UK Prime Minister Sir Keir Starmer, aims to address ongoing challenges in cargo and passenger transport.
Business
Safaricom Ethiopia hits 10 million customers in push for digital growth
Safaricom Ethiopia currently has 900 direct employees, 97 per cent of whom are Ethiopian nationals.
Business
KNCCI president Erick Rutto appointed to global chamber council
In a statement issued Tuesday, July 1, KNCCI described Rutto's appointment as a significant recognition of Kenya’s and Africa’s growing influence in global trade.
Business
Kenya ranked second in Africa for IMF loans as public debt crosses Sh11 trillion
Despite that, Central Bank of Kenya Governor Kamau Thugge revealed in June that Kenya had, in October 2024, applied for a new IMF-supported programme to help roll over the undrawn funds.
Business
Kenya Airways launches direct flights to London’s Gatwick as second UK entry point
This strategic expansion aims to strengthen the airline’s international reach and improve travel options for its customers.
Business
Kenya’s import bill declines for first time in five years on lower fuel costs
According to provisional data from the Kenya National Bureau of Statistics (KNBS), imports between January and April 2025 amounted to Sh882.16 billion, a 3.63 percent decrease compared to Sh915.43 billion in the same period last year.
Business
KRA to waive penalties for late tax returns filed by July 5
KRA acknowledged the massive turnout of taxpayers on June 30 and attributed the delays to technical disruptions caused by high traffic on its online filing platform.
Business
June inflation rate unmoved at 3.8% despite shifting prices
Despite these declines, prices of some food items, particularly vegetables, continued to rise. Cabbages and carrots registered significant increases of 10.8 per cent and 11.1 per cent, respectively.
Business
Kenyan shilling hits new lows against Dollar, Euro and Yen
The shilling weakened against nearly all key trading currencies in April, except the South African Rand and the Tanzanian Shilling.
Technology
Kenya sees massive spike in cyber-attacks amid expanding digital landscape
This is according to the latest Sector Statistics Report issued by the Communications Authority of Kenya (CA) on June 30.
Business
Report warns carbon markets could spike global emissions
The report, Why Carbon Markets Are a Dangerous Distraction for Africa, was developed in collaboration with global climate scientists and experts.
Business
KRA extends tax filing deadline by 24 hours
The authority clarified that returns must be filed even if an employer already deducts and remits Pay As You Earn (PAYE) on behalf of an employee.
Technology
Meta's billion-dollar AI talent hunt raises eyebrows in Silicon Valley
Under CEO Mark Zuckerberg’s direction, the company has been on a recruitment spree, reportedly offering eye-watering incentives to lure top engineers away from rival firms.
Business
CBK revokes bank Al-Habib’s license after exit from Kenya
BAHL had operated in Kenya since April 9, 2018, after receiving approval from CBK. Its Nairobi office served only as a liaison and marketing center for its parent company in Pakistan and global affiliates.
Business
Food prices drop amid persistent inflation in low-income countries, says World Bank
Notably, food price inflation continues to outpace overall inflation in 60% of the 161 countries with available data, signaling ongoing pressure on household food budgets.
Business
Billionaire Suri taps Kenya as launchpad for Pan-African energy and tech expansion
Maser’s footprint in Kenya aligns with government initiatives to expand national grid coverage and embrace clean energy solutions.
Business
PS Mang’eni rallies Kenya to cut edible oil imports, backs MSMEs for economic shift
Mang’eni’s appeal comes amid broader government efforts to empower micro, small, and medium enterprises (MSMEs) to play a leading role in transforming key sectors like agriculture and manufacturing.
Business
KRA sets June 2025 deadline for eTIMS rollout in all fuel stations
This integration is aimed at improving transparency and ensuring accurate tax reporting for every fuel sale.
Business
KRA's tax reminder campaign triggers confusion ahead of amnesty deadline
Through the campaign, KRA is targeting individuals with unpaid principal tax, promising a full waiver on penalties and interest for those who clear their dues before the deadline.
Business
Stanbic eyes Sh12.9 billion fund for high-growth businesses
The lender aims to channel the funds through its Catalytic Fund, a facility it uses to offer patient capital to early-stage and growing businesses in sectors such as agribusiness, manufacturing, creative arts, education, and healthcare.
Business
Kenya bars Japanese firm EAA from tenders in fresh 3-year ban
EAA Company Limited has been handed a three-year ban by the Public Procurement Regulatory Authority (PPRA), effective from March 18, 2025.
Business
State mulls insurance overhaul to rescue businesses hit by protests
Data from the Insurance Regulatory Authority shows that 63 percent of MSMEs in Kenya did not have any form of insurance as of December 2024, leaving them exposed to shocks such as political unrest and natural disasters.
Business
Over 22,000 insurance claims worth Sh659m rejected in first quarter
The rise in claim rejections comes as insurers invest heavily in technology to combat fraudulent reporting. Companies are adopting advanced tools, including Artificial Intelligence, to vet and verify claims more effectively.
Business
Equity shareholders approve UAE office in global growth push
The move, once cleared by the Central Bank of Kenya and Emirati regulators, will anchor the bank’s operations in the Gulf region and enable it to better support East African businesses and investors operating in or trading with the UAE.
Business
Co-op Bank confirms damage at two branches during protests
Co-op Bank clarified that the actual cash loss was minimal and confirmed that no injuries occurred among staff or customers
News
Ruto enacts Finance and Appropriation Acts to fund key sectors
The Finance Act revises six key tax laws, introducing new incentives, exemptions and obligations for businesses, employees, and digital service providers.