Economy

Kenya Power’s profit from every Sh100 paid by customers is minimal, according to Managing Director Joseph Siror. He stated that out of this amount, Kenya Power receives around Sh2 or less as profit. Approximately Sh20 goes towards covering the utility firm’s operational expenses, while the majority, about 65%, is allocated …

Ruto has announced a substantial relief package of Sh6 billion for coffee farmers, aiming to alleviate their debts and rejuvenate the sector. Speaking to Kenyan residents in the United States during a state visit, President William Ruto pledged to lead the Cabinet in approving the debt write-off upon his return …

Proposals in the Finance Bill 2024 indicate a looming 80% increase in cooking oil prices, a move vehemently contested by the Edible Oil Manufacturers Association of Kenya. They argue that the suggested 25% excise duty on vegetable oils, part of the proposed bill, would create an unbearable financial burden for …

Mobile money transactions surged to KSh5.5 trillion in 2023, as reported by the Kenya National Bureau of Statistics (KNBS). The National Economic Survey for 2024 highlighted a decline of 600,000 mobile money subscribers within the country in the preceding year. The survey indicated a reduction in the total number of …

In 2023, Kenya’s GDP surged to Ksh.15.1 trillion, marking a growth of 5.6 percent compared to 4.9 percent in 2022, as per the latest data from the Kenya National Bureau of Statistics (KNBS). This increase pushed Kenya’s GDP per capita to $2,097. Key contributors to this growth included industries like …

NICCO Movers Ltd, under the leadership of Director John Kiambo, has taken delivery of the second batch of eight buses, part of a larger order of 30 vehicles. This acquisition is financed by Co-operative Bank and facilitated by Thika Motor Dealers, represented by General Manager of Sales & Marketing, Mr. …

Equity Bank Group saw a significant 25.2% increase in its Q1 profit, reaching Sh16 billion, attributed mainly to robust growth across its subsidiaries. The bank’s MD and CEO, James Mwangi, credited this growth to strong leadership decisions and a flexible balance sheet. ALSO READ: KCB Shifts Focus to Gor Fixture After …

Up to 10,000 small holder coffee farmers in the Gusii region are poised to benefit from a training on crop diversification to maximize crop production in the highly populated area through a project dubbed Gusii Regenerative Agriculture Landscape (GuRAL). The project which is supported by an international non-profit organization, Rainforest …

Kenya Railways has announced the recommencement of commuter train services on specific routes within Nairobi. The service, which had been temporarily halted due to heavy rains and subsequent repair works, will resume on routes including Embakasi Village, Lukenya, SGR Link, and Syokimau starting Tuesday. ALSO READ: Kenyan Airways Employee Detained in …

Kenya is aiming to secure private sector partnerships to extend the Standard Gauge Railway (SGR), ensuring smooth movement of goods across the East African Community borders. Kipchumba Murkomen, the Cabinet Secretary for Roads and Transport, highlighted plans to establish special economic zones along the corridor, promising urban transformation in these …