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NEWS & CURRENT AFFAIRS

Digital News

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Brian Ngugi

Kenya-UAE deal could be a catalyst for job creation and an economic booster

Pact seeks to eliminate trade barriers, improve market access and increase investment flows. Key sectors that will benefit significantly include agriculture, tourism and technology traders.

Kenya-UAE deal could be a catalyst for job creation and an economic booster

State eyes more Eurobonds to ease Sh10tr debt

State eyes more Eurobonds to ease Sh10tr debt

End of the road for CMC Motors as auto dealer to close shop

End of the road for CMC Motors as auto dealer to close shop

New sugar levy leaves bitter taste for households as prices to go up

New sugar levy leaves bitter taste for households as prices to go up

Can UAE deal make Kenya Dubai of Africa?

The recent signing of a comprehensive economic partnership agreement between Kenya and the UAE heralds a significant shift in economic relations.

Can UAE deal make Kenya Dubai of Africa?

Majority of Kenyans project a tough future for their children

They attribute the projection to poor economic conditions in the Pew Research Centre survey.

Majority of Kenyans project a tough future for their children

Ruto now turns to UAE to grow jobs, economy with new trade deal

Kenya and the United Arab Emirates (UAE) signed a Comprehensive Economic Partnership Agreement (CEPA) on Tuesday aimed at boosting trade, investments and creating jobs.

Ruto now turns to UAE to grow jobs, economy with new trade deal

China Square's Sh1b expansion war chest rattles retail outlets

The firm’s low-cost strategy has drawn the attention and concern of competitors. chain’s aggressive pricing could disrupt established market dynamics.

China Square's Sh1b expansion war chest rattles retail outlets

CBK faces litmus test in fresh multi-billion-coin minting tender

CBK came under the spotlight for the Sh15 billion new banknotes deal awarded to a German firm. Auditor General Gathungu cited a lack of competitive bidding in the previous tender.

CBK faces litmus test in fresh multi-billion-coin minting tender

KenGen to ramp up geothermal output with Hell's Gate project

State-owned power producer is currently conducting an environmental impact assessment in the protected area.

KenGen to ramp up geothermal output with Hell's Gate project

Kenya to legalise cryptocurrencies, says Treasury Cabinet Secretary

Kenya is preparing legislation to legalice cryptocurrencies, the Treasury Cabinet Secretary John Mbadi, said on Friday, marking a significant shift in the government's stance.

Kenya to legalise cryptocurrencies, says Treasury Cabinet Secretary

Kenya tops African venture funding in 2024 with Sh82b

Kenya has cemented its position as the leading destination for venture funding in Africa, attracting $638 million (Sh82.3 billion) in 2024, according to a report by Africa the Big Deal.

Kenya tops African venture funding in 2024 with Sh82b

New Year pain for consumers as fresh round of taxes kick in

Kenyans are bracing for a fresh wave of economic hardship as a raft of new taxes, introduced under the Finance Act, 2024 came into effect.

New Year pain for consumers as fresh round of taxes kick in

CMA warns listed firms over neglect of minority shareholders

The Capital Markets Authority has warned listed companies against failing to adequately protect the rights of minority shareholders.

CMA warns listed firms over neglect of minority shareholders

Treasury tightens screws on State corporations in fresh revenue hunt

The cash-strapped administration of President Ruto has issued a stern directive to State corporations, demanding increased revenue generation and stricter financial discipline.

Treasury tightens screws on State corporations in fresh revenue hunt

Report slams Parliament for weak oversight as debt chokes taxpayers

A damning report by AfriCOG accuses Parliament of failing to fulfill its constitutional duty regarding government borrowing, leading to a ballooning national debt and a future burden on taxpayers.

Report slams Parliament for weak oversight as debt chokes taxpayers

State hopes for better fortunes in the new year after turbulent 2024

Central Bank Rate, which signals banks to lower lending rates was reduced to 11.25 per cent in December from 12 per cent.

State hopes for better fortunes in the new year after turbulent 2024

High food prices dampen new year holiday spirit as living cost rises

Retailers, including major supermarkets, have implemented price hikes on essential commodities over the past month.This is as cost of living index in Kenya has climbed from 2.8% to 3.0% in December.

High food prices dampen new year holiday spirit as living cost rises

Kenya's top CEOs outlook for 2025

As Kenyans bid farewell to a year that offered mixed fortunes for corporates and consumers alike, the outlook for 2025 remains a topic of much anticipation.

Kenya's top CEOs outlook for 2025

KRA issues amnesty to Kenyans burdened by interest, penalties

The Kenya Revenue Authority (KRA) has announced a new tax amnesty programme aimed at providing relief to taxpayers burdened by interest and penalties on outstanding tax debts.

KRA issues amnesty to Kenyans burdened by interest, penalties

Job loss fears as Mbadi orders cost-cutting in State agencies

Job loss fears across various state corporations in Kenya are mounting following a new directive from the National Treasury aimed at rationalizing costs and reducing reliance on government funding.

Job loss fears as Mbadi orders cost-cutting in State agencies

Tanzania firm now eyes other sectors after Bamburi acquisition

Amson Group has announced plans to diversify its operations beyond cement in Kenya after completing its acquisition of Bamburi Cement Plc.

Tanzania firm now eyes other sectors after Bamburi acquisition

Businesses seek Christmas boom amid the gloom

Businesses have intensified efforts to woo customers with a wide range of attractive offers featuring drastic price cuts on various goods and services.

Businesses seek Christmas boom amid the gloom

Survey: Youth still face financial exclusion despite sector reforms

The primary barriers cited include a lack of mobile phones and national IDs which hinder their access to digital banking services.

Survey: Youth still face financial exclusion despite sector reforms

IMF boss calls for reforms to combat graft

The International Monetary Fund (IMF) has asked the Kenya Kwanza administration to address corruption and strengthen public trust in government institutions.

IMF boss calls for reforms to combat graft

Job loss fears as CEOs project gloomy outlook for businesses

Kenyan businesses are bracing for a challenging year ahead, as CEOs project subdued growth and potential job losses, driven by various economic pressures.

Job loss fears as CEOs project gloomy outlook for businesses

Nairobi County eyes Sh500b as it steps up plans for green bond

It has now shifted attention to strengthening its financial data and management systems to ensure transparency and attract potential investors.

Nairobi County eyes Sh500b as it steps up plans for green bond

Nairobi county presses on with green bond issue plans despite delays

It has now shifted attention to strengthening its financial data and management systems to ensure transparency and attract potential investors.

Nairobi county presses on with green bond issue plans despite delays

African Cities urged to strengthen financial planning for sustainable development

An expert meeting in Nairobi has underscored the importance of robust financial planning for African cities, particularly in light of rapid urbanisation and increasing demands on public services.

African Cities urged to strengthen financial planning for sustainable development

World Bank tells Kenya to live within its means amid economic struggles

The World Bank has urged the Kenya Kwanza administration to rein in its public debt and adhere to fiscal discipline to mitigate vulnerabilities and ensure sustainable economic growth.

World Bank tells Kenya to live within its means amid economic struggles

Banks now say loan rates drop will be gradual in row with CBK

Banks said many deposits were locked in at higher rates before the recent cuts, which affects the banks’ ability to lower lending rates immediately.

Banks now say loan rates drop will be gradual in row with CBK

Kenya braces for IMF talks amid debt crisis

IMF Deputy MD Nigel Clarke is in the country for talks that start today. Sources say that IMF officials are poised to impose stringent conditions on any new programme.

Kenya braces for IMF talks amid debt crisis

KRA collects Sh1tr in five months as it races to meet Sh2.7tr target

KRA must collect about Sh242 billion every month for the next seven months to hit the National Treasury’s Sh2.7 trillion target.

KRA collects Sh1tr in five months as it races to meet Sh2.7tr target

New headache for CBK as banks freeze loans and resist lower rates

Lenders are wary of lending amid mounting defaults in a struggling economy despite the regulator lowering the benchmark rate for the third time this year to 11.25pc.

New headache for CBK as banks freeze loans and resist lower rates

Lenders continue to freeze loans as CBK cuts benchmark rate again

The tightening of credit by banks is having a negative impact on the economy, as businesses and households are finding it more difficult to access credit.

Lenders continue to freeze loans as CBK cuts benchmark rate again

Tanzanian firm buys Bamburi cement after tycoon drops out

Tanzania’s Amsons Group has clinched the deal to purchase Bamburi Cement after its rival, Savannah Clinker, backed by Kenyan businessman Benson Ndeta, pulled out of the contest.

Tanzanian firm buys Bamburi cement after tycoon drops out

Co-op Bank wins CIO100 award for innovative direct settlement system

The CIO100 Awards, organised by dx5, recognise organizations and individuals that leverage IT to drive business value and digital transformation across Africa.

Co-op Bank wins CIO100 award for innovative direct settlement system

Centum Group narrows loss on rebound after investment operations

Centum Investment Company has announced a ShS431 million net profit for the six months ending September 2024, reflecting a significant rebound driven by robust investment income

Centum Group narrows loss on rebound after investment operations

AU agency urges Kenya to tap private sector for infrastructure revamp

This call comes amid Kenya’s challenging fiscal environment and an impending debt crisis, as highlighted by IMF emphasising the need for innovative financing solutions.

AU agency urges Kenya to tap private sector for infrastructure revamp

Top banks build Sh230b war chest for bad loans amid economic gloom

CBK data indicates that lending to the private sector has sharply decelerated, with growth plummeting to 1.3 per cent t in August from 3.7 per cent in July.

Top banks build Sh230b war chest for bad loans amid economic gloom

Treasury goes for UAE loan as IMF cautions of debt situation

The Abu Dhabi loan will be disbursed in tranches, ensuring compliance with borrowing limits set under IMF. Kenya is expected to access about Sh91 billion.

Treasury goes for UAE loan as IMF cautions of debt situation

Sustainable finance in focus for Kenyan banks as Co-op Bank feted

The awards aim to highlight financial institutions that demonstrate a commitment to sustainable finance, which positively impacts the financial sector, the economy, and society at large.

Sustainable finance in focus for Kenyan banks as Co-op Bank feted

For men's health, AAR hospital reduces prostate cancer screening fee

AAR Hospital has reduced prostate cancer screening fees to promote health awareness among men during Men’s Health Awareness Month.

For men's health, AAR hospital reduces prostate cancer screening fee

KCB beats Equity in profits race as earnings after tax hit Sh44.5b

Kenya’s largest bank by asset base KCB Group outpaced its biggest rival Equity Bank in the first nine months of the year after its profit after tax jumped by nearly half to Sh44.5 billion.

KCB beats Equity in profits race as earnings after tax hit Sh44.5b

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