Economy

Equity Bank has followed suit with other financial institutions by reducing its lending rates. The bank has announced a 300 basis point (3 percent) cut in interest rates for both new and existing loans denominated in Kenyan Shillings. Effective from February 13, 2025, for new loans and March 1, 2025, …

The Cabinet has approved a Sh4.26 trillion budget for the 2025/26 financial year. Click here to join our WhatsApp Channel This budget, which will be presented to Parliament for further review, allocates Sh3.09 trillion for recurrent expenditures and Sh725.1 billion for development projects. Within the development budget, Sh436.7 billion is …

Money market funds have surged as investors earn returns of up to 16%, contributing to Kenya’s strong start to the year in the capital markets, with all indices at the Nairobi Securities Exchange showing positive results. The growth in money market funds is attributed to heightened awareness, attractive returns, and …

The Kenya Revenue Authority (KRA) has credited significant reforms in customs and border control for the growth in customs tax revenue. Click here to join our WhatsApp Channel Customs tax is levied on goods imported into Kenya. In a statement, the tax authority announced that customs tax collections for January …

Kenya Airways (KQ) and Air India have entered into a codeshare agreement to improve travel between Africa, India, and other destinations. Through this partnership, Air India will add its ‘AI’ code to Kenya Airways’ daily Nairobi-Mumbai flights, providing passengers with connections to Bangkok, Colombo, Dhaka, Malé, Melbourne, and Singapore. This …

Vivo Energy Kenya has rejected allegations that it sells substandard fuel at its petrol stations in Nairobi. As the exclusive distributor of Shell products in Kenya, the company responded to a circulating video on social media that claimed random fuel quality tests had been conducted at various stations. Click here …

Kenya Power has posted a net profit of Sh9.9 billion for the six months ending December 2024, marking a significant improvement from the Sh319 million profit during the same period last year. This growth in profitability is attributed to lower sales costs, reduced finance expenses, and the stability of the …

Bolt has introduced a new “Trusted Contacts” feature, allowing both passengers and drivers to designate friends or family members as emergency contacts. This feature ensures that if the account holder is unreachable, Bolt’s Safety Team can escalate Ride Check alerts or Emergency Assist requests. It’s part of Bolt’s Sh14 billion …

The government has announced plans to assign new responsibilities to the Agricultural Society of Kenya (A.S.K.), including holding quarterly sub-shows nationwide to better support local farmers and their products. Agriculture Principal Secretary Dr. Kiprono Ronoh, speaking at a two-day farmers’ field event in Eldama Ravine, emphasized that the current yearly …

The Federation of Kenya Employers (FKE) has raised concerns over the impact of recent tax increases on employees’ living standards. CEO Jacqueline Mugo highlighted that employers are caught in a difficult situation, facing the challenge of adhering to labor laws while being forced to make deductions that exceed the legal …