Economy

Co-operative Bank of Kenya has increased its daily ATM withdrawal limit by 50 percent to Sh60,000, as banks respond to the reduced spending power among customers due to the weakening Kenyan shilling. The bank informed its customers about the adjustment, marking the first such revision in nearly a decade. This …

The government has unveiled intentions to launch a dollar-denominated bond aimed at attracting investment from Kenyans living abroad. In a statement, Prime Cabinet Secretary and Cabinet Secretary for Foreign and Diaspora Affairs Musalia Mudavadi revealed that the Diaspora Bond would be developed in collaboration with the World Bank’s Multilateral Investment …

The government has unveiled a plan to allocate Sh394 billion over the next five years for the construction, repair, and enhancement of major highways, despite facing budget constraints that have led to reductions in overall road funding in recent budget allocations. In its five-year strategic plan, the Kenya National Highways …

The proprietors of Nairobi Flour Mills, known for processing Jimbi maize and wheat brands, have listed the business for sale at a price of Sh400 million. This sale announcement reflects heightened activity in the packaged food industry, following closely after Kitui Flour Mills, trading under the Dola maize and wheat …

By: AFP Data from the Japan Automobile Manufacturers Association revealed on Wednesday that China has overtaken Japan as the world’s largest vehicle exporter in the past year. The surge in China’s automotive sector has been attributed to substantial investments in electric vehicles, an area where Japanese companies have been more …

John Kibunga Kimani, a billionaire investor, has increased his ownership in telecommunications giant Safaricom by purchasing an additional 8.64 million shares, bringing his total holdings to 27.7 million units by December 2023. This move aligns with the strategy of several investors who capitalized on the stock’s lower price to expand …

Salim Mvurya, the Cabinet Secretary for Mining, Blue Economy, and Maritime Affairs, has issued a warning that fish caught from Lake Nakuru is not safe for human consumption. During discussions in Embu County on Wednesday with Governor Cecile Mbarire, CS Mvurya highlighted recent tests on fish from Lake Nakuru, revealing …

BAT (British American Tobacco) Kenya has earned the distinction of being named the top employer in Kenya and across Africa, marking the seventh consecutive time the company has received this recognition. This recognition extends globally, as the BAT Group secured Top Employer certification in 35 countries worldwide, spanning Africa, Asia …

In the global context, exchange rates often go unnoticed by many individuals whose affairs and businesses primarily operate locally, using the domestic currency, the Kenyan Shilling. People typically pay attention to exchange rates only during occasional transactions involving foreign goods, healthcare services, travel, or overseas remittances. The Central Bank of …

Safaricom has acknowledged the malfunction of its mobile payment service, M-Pesa PayBill. In a notice issued on Tuesday morning, the mobile network provider stated that it was facing recurring service intermittency, impacting certain PayBill payments. “We are currently addressing a recurring service intermittency affecting specific PayBill payments. Our technical team …