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Why diaspora remittance is drying up

Many Kenyan homes depend on these revenue and any slight change is expected to have a major impact on so many lives.

By 2 days ago

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Firms pull out all stops to pamper top CEOs amid fierce talent war

Blue-chip companies are sparing no expense to retain and attract top executive talent, with lavish compensation packages for CEOs becoming the norm.

By 3 days ago

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Why your favourite tipple is likely to be fake

East African Breweries Ltd (EABL), the region’s leading alcoholic beverage company, is grappling with an unprecedented rise in counterfeit and illicit alcohol.

By 3 days ago

Big banks have lowest loan rates: CBK data

Stanbic Bank Kenya, a unit of South Africa’s Standard Bank Group, at 12.30 per cent; Standard Chartered Bank Kenya at 12.81 per cent; and Ecobank Kenya at 12.87 per cent. 

By 5 days ago

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Deep-pocketed foreign banks beat Kenyan rivals with cheaper loan rates

Kenyan units of global banking giants are offering the country’s most competitive lending rates, using their expansive capital bases to undercut domestic rivals.

By 6 days ago

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Ruto banking on China's backing to test Trump and rewrite the rules at UNGA

Ruto heads to UNGA determined to spearhead calls for reforms at the world body, buoyed by Chinese President Xi Jinping’s fresh appeal for a ‘more just and equitable’ global governance system.

By 6 days ago

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'They ate our lunch': How Hustler Fund, digital lenders have killed Kenya's micro finance banks

Kenya’s microfinance banks (MFBs), once hailed as critical vehicles for financial inclusion, are now the weakest link in the country’s banking sector, with six consecutive years of losses.

By 7 days ago

Paratus group expands East Africa footprint with high-speed fibre connectivity

The move signals a strategic bid to capture a share of East Africa’s rapidly growing digital economy, which Euromonitor forecasts will account for 29 per cent of Africa’s total GDP by 2040.

By 7 days ago

'This is my plea': Exiting Afreximbank chief calls on African banks to close trade finance gap

Oramah expressed particular frustration at the absence of African development banks, commercial lenders, and credit insurers.

By 7 days ago

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12 banks face merger over Sh20b capital crunch

Up to a dozen Kenyan banks face mergers, acquisitions or collapse unless they raise a collective Sh19.8 billion in capital by year-end, a new report by the Central Bank of Kenya has indicated. 

By 8 days ago

Afreximbank pledges $2 billion to boost African county governments' role in trade

Afreximbank, will provide $2 billion in financing to sub-national governments to help drive economic development and trade, its president said on Friday.

By 9 days ago

Algeria courts Kenya in bid to deepen trade ties

Gas-rich Algeria is intensifying efforts to boost trade with Kenya and other African nations as it positions itself to capitalise on the African Continental Free Trade Area (AfCFTA).

By 9 days ago

African traders urged to adopt transit bond scheme to cut costs

The African Continental Free Trade Area (AfCFTA) Single Bond Guarantee Scheme offers a viable solution to long-standing logistical and financial barriers hampering intra-African trade.

By 9 days ago

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Inside Ruto's new Sh206b JKIA upgrade plan after Adani deal flop

A confidential Cabinet briefing document shows KAA will now engage bilateral and multilateral financiers, including the World Bank’s IFC and the African Development Bank.

By 11 days ago

State moves to rein in wayward telcos with new competition rules

The government has introduced a new tough set of competition rules that promise to reshape the country’s telecommunications landscape.

By 11 days ago

Kenyan governors pitch regional mega-projects at African trade forum

Kenyan governors pitched for local mega-projects they say are crucial for unlocking economic growth and reducing the continent's reliance on foreign aid.

By 11 days ago

Kenya urges Africa to tap private funding for infrastructure

"With shrinking fiscal space for debt, including foreign debt, we must pioneer innovative ways for raising revenue. One model that has proven successful is public-private partnerships," Kindiki said.

By 12 days ago

Outgoing Afreximbank boss roots for Africa's economic independence

Oramah called for Africa to achieve full economic independence through increased trade and self-financing, as the fourth Intra-African Trade Fair (IATF) opened on Thursday in Algiers.

By 12 days ago

Galana Energies pledges social investment as it marks 25-year milestone

The homegrown company said the commitment through its Galana Foundation would focus on scaling its scholarship programme, which has so far supported more than 80 students entering high school.

By 13 days ago

State's debt to suppliers hits crippling Sh525b despite promises

The national government’s debt to suppliers surged 39 per cent in the past year to a record Sh524.84 billion, piling pressure on small businesses.

By 14 days ago

Controller of Budget sounds alarm over rising Sh12tr debt burden

Kenya’s Controller of Budget Margaret Nyakang’o has issued a stark warning over the country’s rapidly growing public debt, which reached Sh11.73 trillion by the end of June 2025.

By 15 days ago

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Why Trump is demanding AfDB clean-up as Kenya's loan billions expose graft

A US Treasury report reveals that 83 per cent of AfDB’s sanctioned cases involved fraud, with Kenya identified as a top beneficiary of loans and a primary source of corruption complaints.

By 15 days ago

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Why cash-hungry KRA is after digital taxi drivers

KRA is targeting tens of thousands of digital taxi drivers in a new crackdown to plug a Sh47.3 billion revenue shortfall, a move that risks squeezing drivers’ margins further.

By 18 days ago

China funds Kenya's new 'army of public policy experts' to bridge critical skills gap

Kenya is tapping Chinese funding to educate a new cadre of public policy experts including economists, scientists and engineers, a bid to close a critical skills deficit and accelerate its transition.

By 18 days ago

Somaliland gets its first international five-star hotel

The new property marks a major milestone as the first internationally branded five-star hotel to open in Somaliland.

By 21 days ago

Collapse of Banda Homes leaves off-plan investors in financial ruin

This marks a dramatic collapse of a firm that once promised affordable housing but left investors with undelivered homes and lost savings in the millions of shillings.

By 21 days ago

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No more hidden fees as CBK moves to enforce new loan pricing model

Risk-Based Credit Pricing Model, which kicks in on September 1, seeks to eliminate opacity while creating a fairer, more competitive lending environment.

By 20 days ago

Afreximbank's A-rating affirmed by Japan's JCR

Afreximbank the multilateral financial institution with a mandate to finance and promote intra- and extra-African trade, has signed a multibillion-dollar deal with Kenya

By 20 days ago

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Why Kenya wants to force foreign oil giants into local partnerships

Kenya's energy regulator has proposed new rules that would force giant foreign oil and gas companies to enter partnerships with local firms and prioritise Kenyan goods and services.

By 20 days ago

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State to cap LPG prices in fresh bid to tame cost, raise uptake

Kenya will introduce a pump price model for liquefied petroleum gas (LPG), applying the state-controlled pricing mechanism for kerosene, petrol and diesel, to curb rising costs and boost adoption. 

By 22 days ago

Why banks are in scrutiny over slow response to CBK rate cuts

Commercial banks have been criticised by CBK for keeping lending rates elevated, stifling borrowing even as inflation stabilises and the economy shows signs of resilience.

By 23 days ago

End of an era: KIMC set for rebirth as Kenya School of Communication

Bill to transform KIMC into modern Communication academy with expanded mandate that will offer postgraduate diplomas, certification, research and consultancy.

By 24 days ago

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How banks are reaping big from regional units

Equity, KCB, I&M Group and Coop Bank have seen EA subsidiaries contribute more than a third to their earnings, despite domestic economy grappling with bad loans and market volatility.

By 24 days ago

Kenya gets debt-cost relief in SP's latest rating upgrade

President William Ruto’s cash-strapped administration has secured a vital endorsement after the global rating agency S&P upgraded Kenya’s credit rating.

By 24 days ago

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How CBK will monitor your bank transactions in real-time

The Central Bank of Kenya will gain real-time monitoring power over customer transactions beginning Friday, August 22, following a major system upgrade.

By 26 days ago

Job loss: How high taxes, weak demand are pushing firms to the brink

Kenyan businesses are being squeezed by soaring taxes and muted consumer demand, forcing them to slash costs and automate operations to survive, a CBK survey shows. 

By 27 days ago

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Ruto on diplomatic tightrope as Japan, China vie for favour

President William Ruto is navigating a high-stakes diplomatic balancing act, leveraging a high-profile visit to Japan to secure new investment.

By 27 days ago

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MPs block 'rich cabal' from Sh100b KPC sale

Parliament has ring-fenced privatisation of Kenya Pipeline Company by imposing strict conditions to prevent a select group of wealthy investors from dominating the share sale.

By 27 days ago

How Trump's migrant crackdown has strained Kenyan households, economy

A growing financial crisis looms over millions of Kenyan households and the embattled economy, driven by a sharp, two-month drop in critical diaspora remittances.

By 30 days ago

Luanda summit targets Africa's $100 billion infrastructure funding gap

African heads of state will gather in Luanda from October 28-31 for a high-stakes summit aimed at closing the continent’s $100 billion annual infrastructure funding gap.

By 30 days ago