Economy

Dubbed the “Green Gold” of Kenya, avocados are increasingly recognized as a significant contributor to the country’s economic prosperity. Last year, they constituted a notable 17% of total horticultural exports, positioning Kenya among the top avocado-producing nations globally, competing with established producers like the United States, Mexico, and Colombia. During …

A salt firm based in Mombasa has been instructed by a state agency to compensate over Sh185 million for utilizing seawater in the commercial production of salt. The Court of Appeal ruled that Krystalline Salt Limited must remunerate the Water Resource Management Authority (Warma) for extracting seawater from the creek …

Kenya Power has returned to profitability, reporting a net profit of Sh319 million for the half-year period ending December 2023, a turnaround from the Sh1.1 billion loss recorded in the same period the previous year. The company attributes this profitability to increased electricity sales and the implementation of a cost-reflective …

A forecast from meteorologists at the Igad Climate Prediction and Applications Centre, based in Nairobi, indicates that Kenya is likely to experience above-average rainfall in the upcoming planting season, set to commence early next month. The weather experts express a high level of confidence in this forecast, suggesting that the …

KenGen, a publicly traded electricity generation company, is set to finalize an agreement to drill three exploratory wells in Tanzania, as the neighboring country looks to tap into geothermal energy sources. Peter Njenga, the Managing Director and CEO of KenGen, states that operations in Tanzania are expected to commence within …

Diamond Trust Bank (DTB) has forged a partnership with Homa Bay County as the county government prepares to host a conference later this month aimed at attracting investors. DTB is the Silver Sponsor of the Homa Bay International Investment Conference scheduled to occur from 27-29 February in Homa Bay town. …

The Ministry of Agriculture, in partnership with Rootooba, is hosting a two-day forum titled the Financing Agriculture Sustainably Conference (FINAS2024) on March 27th and 28th, 2024, aimed at addressing Kenya’s food insecurity crisis. Seeking to tackle the looming food insecurity and combat inflation in food prices, the forum will bring …

Last year witnessed a notable rebound in cargo throughput at the Mombasa port, with a growth of 6.23 percent, a trend attributed to the government’s renewed efforts to enhance efficiency amid increasing competition from Dar es Salaam. According to data compiled by the Kenya National Bureau of Statistics (KNBS), East …

A recent international tender inviting bids for long leases of state-owned sugar companies has been temporarily halted by the High Court. Justice Chacha Mwita issued an order suspending the tender, which was advertised by the Ministry of Agriculture on January 16, following an urgent application. The decision to halt the …

British companies are expressing strong interest in investing in Kisumu County to capitalize on the area’s significant economic opportunities in agriculture and the blue economy. Neil Wigan, the British High Commissioner to Kenya, emphasized Kisumu’s strategic position as the gateway to Uganda and Tanzania, offering extensive prospects for both local …