Economy

On Monday, the official exchange rate of the shilling against the dollar surpassed the 160-unit mark, marking a sustained and steady depreciation trend that has reduced the margin between the official and retail selling rates of the US currency. The Central Bank of Kenya (CBK) published an indicative rate on …

Simon Chelugui, the Cabinet Secretary for Co-operatives and Small, Micro, and Medium Enterprises, has urged coffee farmers in Murang’a to capitalize on the recent reforms in the sector to enhance their production. Addressing farmers during a coffee meeting, Chelugui emphasized that the Minimum Guaranteed Returns (MGR) set by the government …

Mombasa County Government has issued a temporary suspension of Bamburi Cement’s coal operations to safeguard the well-being of nearby residents. The decision follows a comprehensive site inspection led by Deputy Governor Francis Thoya, along with officials from the Environment Department, Public Health, and the National Environment Management Authority (NEMA). The …

Stakeholders in the mining sector express their endorsement for anticipated reforms, while also seeking a grace period before the eventual implementation of regulations governing the mining of strategic minerals to mitigate potential disruptions to livelihoods. Dr. Patrick Kanyoro, Chair of the Kenya Chamber of Mines, conveyed the industry’s support for …

President William Ruto has given assurance to the Kenyan people that within the next 10 years, the country will no longer rely on food imports. Speaking during the foundation stone laying ceremony for the Nanyuki Affordable Housing Project on Wednesday, the president emphasized the need for Kenya to achieve self-sufficiency …

Following an outage that affected M-PESA services from around 11:00 am on Tuesday, normal functionality has been restored. The disruption was observed on both Safaricom’s M-PESA App and the Sim Toolkit. Banks had alerted customers to possible delays and requested patience until further instructions were provided once the issue was …

Farmers in Nakuru County are hopeful that the ongoing rainfall will contribute to the maturation of their crops, coinciding with stabilized prices of food items. As predicted by the Meteorological department last year, Nakuru County has experienced continuous scattered rains into January, particularly in areas like Elementaita, Kiambogo, and Mastoo, …

Carrefour (CARR.PA) is informing customers that it will no longer carry PepsiCo goods such as Pepsi, Lay’s crisps, and 7up due to increased costs, marking the latest dispute over pricing between retailers and global food corporations. Starting Thursday, Carrefour stores in France will display shelves of PepsiCo (PEP.O) products accompanied …

Nyeri County is set to reveal a Sh500 million agriculture value chain initiative, designed to boost market engagement and target a minimum of 100,000 farmers. The National Agricultural Value Chain Development Project (NAVCDP), funded by the World Bank, is scheduled for launch this month, with Nyeri County committing at least …

In an effort to curb power theft and reduce meter reading costs, Kenya Power has announced a three-year initiative requiring customers in rural areas with postpaid meters to transition to prepaid meters. The company will cease connecting rural customers with postpaid meters as it moves towards implementing smart meters. According …