Economy

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 …

Uganda is in discussions with Tanzania regarding the possibility of importing all of its oil products through Dar es Salaam, marking a potential shift away from using Kenya’s Mombasa port for imports, Uganda’s Energy minister informed the press on Thursday. Uganda has expressed dissatisfaction with the current arrangement where Ugandan …

In a significant development, Kenya has been chosen to lead a pivotal regional body tasked with advancing agriculture to enhance livelihoods, foster sustained economic growth, and promote inclusive development across the region. Mithika Linturi, the Cabinet Secretary for Agriculture and Livestock Development, was inaugurated as the Chairman of the Council …