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How Kenyan banks are losing billions to fraud

The revelations come as the Central Bank of Kenya (CBK) faces public scrutiny for failing to prevent bank failures linked to ill health and governance weaknesses. 

By 4 days ago

Tata Chemicals to pause Kenya operations for major upgrade

Shutdown, while significant, is a temporary measure designed to accommodate the commissioning of a new kiln.

By 5 days ago

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Exporters brace for Trump blow after Kenya fails to seal trade deal

Nairobi failed to secure a trade deal within the 90-day window that closed on Friday. Tariffs on exports to the US could revert to 10 per cent, costing export earnings Sh13b.

By 5 days ago

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Why State is rushing to sell huge stake in cash-rich Kenya Pipeline

Government plans to sell at least 60 per cent of the shareholding in Kenya Pipeline Company through an initial public offering on NSE, which could net more than Sh80 billion.

By 5 days ago

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Kenya's debt spirals as revenue crisis threatens economic stability

President William Ruto's ambitious economic model (Rutonomics) is confronting its most significant test, even as new data reveals a surging national debt.

By 10 days ago

Cybersecurity, trust woes slow Kenya's e-commerce growth

Kenya’s booming e-commerce sector faces significant headwinds from persistent cybersecurity threats and a lack of consumer trust, a new government draft policy shows. 

By 11 days ago

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IMF flags Sh175b fuel levy plan over debt, transparency risks

The National Treasury says the securitisation move will fast-track road construction and clear pending bills by converting future fuel levy revenues into tradeable securities.

By 10 days ago

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IMF to share Kenya governance diagnostic draft with government

IMF has made governance reforms and anti-corruption measures a cornerstone of its future financial support to Kenya.  

By 12 days ago

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De La Rue counts heavy cost of unceremonious Kenya exit

Closure of British currency printer’s lucrative Kenyan unit saw revenue in its currency division plummet by 18.7 per cent to Sh35.94 billion in 2023 from Sh44.19 billion.

By 13 days ago

Kenya and rest of Africa lagging in green energy wave, UN warns

The report emphasises, "government action must steer markets by providing coherent and sustained long-term policy signals, regulatory frameworks, and market incentives." 

By 13 days ago

Djibouti opens market for Kenya's miraa exports

Kenyan miraa, also known as khat, has been cleared for export to Djibouti, marking a significant new market opportunity for farmers and traders of the lucrative stimulant crop. 

By 16 days ago

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Revealed: How select oil importers shared more than Sh32 billion

The controversial G-to-G fuel import deal, touted as a way to ease dollar liquidity and stabilise the shilling, has seen billions of shillings disbursed to a select group of oil marketers. 

By 17 days ago

Moody's sees risks to Kenya's economic recovery

Kenya's medium-term fiscal consolidation, critical for any potential ratings upgrade and access to more affordable international capital, is likely to get more challenging.

By 16 days ago

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How Trump's new policies are pushing Kenya towards China

Kenyan manufacturers are bracing for severe economic consequences as the Trump administration prepares to reinstate 10 per cent tariffs on key exports.

By 17 days ago

KRA's Sh47.3b tax shortfall hits Ruto's economic agenda amid fiscal strain

Kenya's fiscal stability faces fresh challenges after the Kenya Revenue Authority fell Sh47.3 billion short of its tax collection target for the fiscal year ending June 30, 2025.

By 17 days ago

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Why an acre of land in Eastleigh and South B will cost you Sh600 million

The report released on Thursday indicates that Eastleigh and South B recorded average land prices of Sh600 million per acre. 

By 21 days ago

Economy feels the pinch as June inflows drop Sh2.1b

Data from the Central Bank of Kenya reveals that diaspora remittances to Kenya declined by $17 million (Sh2.1 billion), or 3.86 per cent, in June.

By 24 days ago

Centum maintains dividend payout following Sh813 million net profit

Centum Investment Company Plc has maintained its dividend payout after reporting a consolidated net profit of Sh813 million for the financial year ended 31 March 2025.

By 25 days ago

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Kenya's exports brace for Sh13b blow as Trump tariffs resume

Despite last-ditch negotiations by Foreign Affairs CS Musalia Mudavadi, Nairobi has been unable to clinch an interim deal.

By 25 days ago

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Why IMF is demanding corruption audit on Kenya

Kenya’s quest for billions in crucial financing from the IMF now hinges on its commitment to tackle endemic corruption. 

By 1 month ago

Digital loans challenge credit norms, boost income

Those granted digital loans were nearly 24 per cent more likely to be employed or self-employed compared to a control group of rejected applicants.

By 1 month ago

Cameroon's George Elombi to take over Afreximbank's leadership

The African Export-Import Bank (Afreximbank) named veteran executive Dr George Elombi as its next president and board chairman on Saturday.

By 1 month ago

Standard Chartered partners with CISI to boost wealth management expertise

The programme offers a broad introduction to the financial services professional sector, with a specific focus on investments from a global perspective

By 1 month ago

Oramah's new book foresees intra-African trade doubling in decade

The updated “Foundations and Evolutions of Structured Trade Finance” argues that implementation of AfCFTA should boost regional commerce from its current 15-17% share of Africa's total trade.

By 1 month ago

Outgoing Afreximbank's president Oramah hailed as continental integration engine

Under his command, Afreximbank became the operational backbone of Africa’s integration ambitions.

By 1 month ago

AAR slashes sickle cell test costs in accessibility drive

The hospital will offer comprehensive blood tests, known as full haemograms (which analyse red and white blood cells, haemoglobin, and platelets), for Sh500

By 1 month ago

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Will zero-tariff fix Kenya-China trade imbalance?

Kenya is increasingly pivoting towards Beijing, seeking to leverage China’s expanded zero-tariff trade policy to address a widening trade imbalance that favours the Asian economic giant.

By 1 month ago

Kenya braces for new economic shocks as Israel-Iran war escalates

Kenya is bracing for significant economic repercussions as the escalating conflict between Iran and Israel threatens to disrupt global trade routes.

By 1 month ago

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China signals breakthrough in new financial talks with Kenya

China on Wednesday hinted that Kenya’s urgent request for a key financial cooperation pact is likely to succeed.

By 1 month ago

No more delays as CBK extends payment hours for 24-hour economy

The banking regulator will extend the operating hours of its critical national payment system from July 1, aiming to significantly boost Kenya’s transition towards a round-the-clock digital economy.

By 1 month ago

Kenyan farmers urged to tap into China's zero-tariff market

China is committed to implementing zero-tariff treatment on all tariff lines for 53 African nations with which it maintains diplomatic relations.

By 1 month ago

IFC disburses Sh2.6b to Centum Re's 2,000 affordable houses

IFC has disbursed Sh2.6 billion Centum RE to finance the construction of 1,940 affordable, energy-efficient homes in Nairobi’s Two Rivers Development.

By 1 month ago

Manufacturers warn new rules on alcohol will hurt production

Firms say regulations could undermine their competitiveness and inadvertently fuel the illicit alcohol market.

By 1 month ago

Bitter IMF austerity pill return overshadows budget unveiling

The Bretton Woods institution has demanded deep cuts to public spending, which could impact public jobs as part of a new funding deal.

By 1 month ago

Beijing opens door to Africa with zero tariffs amidst global turmoil

Chinese President Xi Jinping said the move provides ‘new impetus’ for shared development in a world defined by ‘changes and turbulence’.

By 1 month ago

Kenya pushes China to seal key pact ahead of new financial year

  Kenya is pressing its largest bilateral creditor, China, to finalise a crucial financial cooperation agreement by the end of this month, which marks the start of a new financial year.  

By 1 month ago

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Kenya steps up China charm offensive amid US trade scrutiny

It saw Kenya and China elevate their relationship to a strategic partnership and sign 22 Memoranda of Understanding (MoUs) spanning infrastructure, trade, health, and security.

By 1 month ago

African payments system taps more States to grow trade, cut forex woes

For companies like Kenya Airways (KQ), the system offers a potential lifeline against persistent issues of blocked funds.

By 1 month ago

Mudavadi meets China's Wang Yi to formalise bilateral deals

Mudavadi’s visit follows President William Ruto's state visit to China in April, where he and Chinese President Xi Jinping outlined broad areas of cooperation.

By 1 month ago

Kenyan firms urged to join Algeria Trade Fair

Kenyan businesses have been urged to participate in the upcoming Intra-African Trade Fair (IATF 2025) in Algeria.

By 1 month ago