Economy

The Kenya Pipeline Company (KPC) has announced a profit before tax of Sh10 billion for the financial year ending June 30, 2024, marking a 32% increase from the previous year’s Sh7.6 billion. Click here to join our WhatsApp Channel This growth is attributed to a 15% rise in revenue, from …

By: KNA The Heinrich Boell Foundation has unveiled a report highlighting the alarming state of agricultural soils in Kenya and its critical impacts on food and nutritional security. Click here to join our WhatsApp Channel The Report dubbed “the Soil Atlas—Kenya Edition” has revealed that only 20 per cent of …

The Kenya Railways Corporation has commissioned a technical team to conduct an environmental and social impact assessment in preparation for extending the Standard Gauge Railway (SGR) from Naivasha to Kisumu. As part of the groundwork, the team is evaluating potential environmental and social effects while formulating mitigation strategies in collaboration …

Kenafric Manufacturing Limited (KML) has announced its entry into the East African stationery market following the acquisition of Economic Industries Ltd. Click here to join our WhatsApp Channel The acquisition, which was granted unconditional approval by the Competition Authority of Kenya (CAK), took effect on Tuesday, officially incorporating Economic Industries …

Safaricom has introduced Ziidi, a fresh investment platform integrated with its flagship mobile financial service, M-Pesa, designed to make wealth creation more accessible for its users. Click here to join our WhatsApp Channel This launch coincides with M-Pesa’s 18th anniversary, marking its debut in March 2007. Today, M-Pesa stands as …

The Competition Authority of Kenya (CAK) has issued a warning to phone retailers who are advertising ‘refurbished’ phones as new, stressing that this practice is illegal. Mugambi Mutegi, CAK’s Manager of Communications and External Relations, stated that such deceptive marketing and unfair business practices violate consumer protection laws. Referencing violations …

Eleven Kenyan companies have been featured in Africa’s top 500 firms list by  The Africa Report and Jeune Afrique, based on their financial performance in 2023. Among the Kenyan firms listed are Safaricom (ranked 62nd), Vivo Energy Kenya (100th), Kenya Airways (114th), TotalEnergies Marketing Kenya (126th), and East African Breweries …

Harambee Sacco has announced an increase in the interest rate on deposits to a record high of 9% for 2024, compared to 8.5% paid out in 2023, according to national chairman Macloud Malonza. Click here to join our WhatsApp Channel Additionally, the Sacco is proposing a new record interest of …

Agriculture and Livestock Cabinet Secretary Mutahi Kagwe has instructed all farmers and aggregators to begin delivering their wheat stocks to the National Cereals and Produce Board (NCPB) starting Tuesday morning. Click here to join our WhatsApp Channel This decision by CS Kagwe addresses the wheat crisis where farmers were left …

This week, Kenya’s foreign exchange reserves decreased by a significant 200 million U.S. dollars, reaching a four-week low, according to the Central Bank of Kenya (CBK) in its weekly financial markets update released on Friday evening. Click here to join our WhatsApp Channel The CBK reported that forex reserves stood …