News

Kenya faced a widespread power outage in the early hours of Wednesday, December 18, 2024, leaving most of the country without electricity. In a statement issued at 1:28 a.m., Kenya...

Kenya has extended the importation of refined petroleum products under the Government-to-Government (G-to-G) deal arrangement with three Gulf firms, a move expected to relieve the pressure on the shilling and...

The phrase “there is no money” has become very popular in Kenya over the past few years. In this context, the lack of money means too little money is flowing...

The World Bank has cut its forecast for Kenya’s economic growth in 2024  to 4.7% from 5.0% due to the impact of severe floods, reduced public spending, and subdued business...

The Central Bank of Kenya on Thursday continued the course of rate cuts, trimming its benchmark interest rate by 0.75% from 12% to 11.25%. The easing inflation, stable exchange rate,...

Savannah Clinker Limited, a Kenyan-based building and construction sector company, has withdrawn its bid to acquire Bamburi Cement, according to a statement by the Capital Markets Authority (CMA) on 04...

In a significant development, the African Development Bank (AfDB) has approved a $170 million loan to support the design and construction of Egypt’s wind energy project, the GW Suez Wind...

Kenya Electricity Generating Company (KenGen) PLC has secured a Kshs. 250 million geothermal development deal with Eswatini Electricity Company. Under the contract, KenGen will conduct comprehensive geoscientific studies in three...

Kenya’s year-on-year inflation increased slightly to 2.8% in November 2024, up from 2.7% in October this year, according to the latest statistics published by the Kenya National Bureau of Statistics...

Corruption is one of the biggest and most serious societal challenges in Kenya that has been deeply entrenched in politics and public service. It undermines efficiencies in the public sector...

Kenya’s largest telco, Safaricom Plc, has received approval to enter the Money Market Fund Industry as it seeks to diversify its portfolio. The Capital Markets Authority, on Wednesday, announced the...

Stanbic Bank has announced a Kshs 10.1 billion profit after tax for the first nine months of this year, representing a 9%  growth from Kshs 9.3 billion registered in the...

Kenyan President William Ruto on Thursday ordered the Ministry of Energy and Petroleum, and the Ministry of Transport to cancel all the deals signed with the Indian conglomerate Adani Group....

The Central Bank of Kenya (CBK) has announced the release of new banknotes for all five denominations of the Kenyan currency. This development follows the retirement of the former CBK...

Australia’s Resolute Mining has agreed to pay Mali's government $160 million to resolve a tax dispute. The development comes after the West African country detained the company’s CEO, Terence Holohan,...

Co-operative Bank Group has registered a net profit of Kshs. 19.2 billion during the first nine months of 2024, up from Kshs. 18.4 billion posted in the corresponding period last...

The Capital Markets Authority Kenya on Thursday approved six new funds, expanding investment opportunities for investors. Four of the new funds target investors with diversified investments across various asset classes...

AMSONS Group, the Tanzanian conglomerate, has been granted regulatory approval from the COMESA competition Commission to acquire Bamburi Cement Plc. Kenya’s largest cement company. The transaction will see AMSONS buy...

Morgan Stanley Capital International (MSCI), one of the leading global capital market companies, has added Carbacid Investments PLC, Bamburi Cement PLC, and the Kenya Power and Lighting Company PLC to...

Equity Group Holdings has posted a profit after tax of Kshs 40.9 billion for the first nine months of 2024, representing a 13% growth from Kshs 36.2 billion for the...

Ride-hailing company Uber is zero-rating its app for drivers and riders in Kenya, following a partnership with Kenya’s biggest telco, Safaricom. The deal will allow Uber drivers and riders to...

Kenya’s private sector saw a modest improvement in operating conditions in October, as activity levels expanded and employment increased, a survey by the Stanbic Bank Kenya revealed on Tuesday. The...

The Competition Authority of Kenya (CAK) has conditionally approved Access Bank’s acquisition of the entire issued share capital of National Bank of Kenya Limited from KCB Group. “The transaction has...

Kenya Power has recorded a Sh30 billion net profit for the financial year ended June 30, 2024, compared to a loss of Sh2.8 billion the previous year. The utility company...

The Central Bank of Kenya has announced that it is progressing toward the launch of a Fast-Payment System (FPS), an integrated system that is designed to enable instant transfer of...

JPMorgan, the world’s largest bank, has appointed a former executive at the Central Bank of Kenya, Sailepu Montet, as Kenya's new country manager. The move comes as the bank continues...

Konza Technopolis, Kenya’s largest technology hub, on Tuesday announced that it has signed a memorandum of understanding (MOU) with the Korea Electronic Association (KEA) for the establishment of a $1.4...

East Africa Growth Holding (EAGH) is poised to acquire up to 86.5 million new ordinary shares of I&M Group following the approval of the subscription agreement by the I&M Board...

The Central Bank of Kenya has announced the successful migration of the Kenya Electronic Payment and Settlement System (KEPSS) to the Global Messaging Standard (ISO20022 Standard). KEPSS is Kenya’s Real-Time...

The prices of petroleum products in Kenya have plummeted significantly in the latest review by the Energy and Petroleum Regulatory Authority (EPRA). Super petrol prices in Nairobi dropped by Sh8.18...

The Central Bank of Kenya (CBK) has authorized JPMorgan Chase Bank, the American Multinational investment bank, to open a representative office in Kenya. In an official statement, CBK said the...

Moody’s, one of the leading global rating agencies, on Friday, upgraded the Government of Ghana’s long-term local and foreign currency issuer ratings to Caa2 from Caa3 and Ca, respectively. In...

Kenya is on the verge of unlocking a substantial loan from the International Monetary Fund (IMF) by the end of this year, according to a statement by Kamau Thugge, the...

Adani Energy Solutions Limited has signed a deal with the Kenya Electricity Transmission Company Limited (KETRACO) to finance, develop, operate, and maintain key power transmission lines in Kenya. The Sh95.7...

The Central Bank of Kenya (CBK) has announced that it’s lowering the benchmark interest rate by 0.75% to 12%  following the October Monetary Policy Committee Meeting. The decision to lower...