Category: Kenya
-
Visitor arrivals in Kenya hit a 10-year high on free visa deal
•
The number of visitors arriving through the country’s two main airports in the first three months of the year reached its highest level in at least a decade, coinciding with the visa-free policy that came into effect at the beginning of 2024. Official data showed that 409,164 visitors arrived in…
-
Kenya woos mining investors with lower gold royalty fees
•
The Ministry of Mining has reduced royalties for gold miners in the hope of attracting more investment in the nascent industry. Regulations recently published by the ministry show that miners will now pay a royalty of three percent on the total value of gold extracted, down from three percent previously.…
-
Kenya currency trading: Forex trading signals and how to use them
•
Forex trading has gained significant popularity in Kenya over the past few years, providing a promising avenue for those looking to diversify their investment portfolios. One of the key aspects that can help traders, especially beginners, navigate the complex world of Forex trading is the use of Forex trading signals.…
-
Kenya banks snoop on staff with AI in war against fraud
•
The sector’s regulator has revealed that commercial banks have deployed artificial intelligence technologies to spy on their employees in a new effort to combat fraud and theft spread by insiders. Fast-growing artificial intelligence technologies, which enable machines to mimic human intelligence in thinking and learning, have taken root in almost…
-
Expats in Kenya wire out record Sh87 billion
•
Expatriates living and working in Kenya sent a record Sh86.99 billion back to their home countries in the year ending December 2023, data has shown, underscoring the improving wealth of foreigners in the country. The amount – equivalent to Sh7.25 billion monthly – represents a 24.3 percent increase from the…
-
Kenya Railways dangles lounge, meals in SGR premium rates
•
Kenya Railways (KR) is set to introduce premium class seats on its Standard Gauge (SGR) passenger trains in the next two weeks, charging customers up to three times the fare it currently charges for first class carriages on the Madaraka Express between Nairobi and Mombasa. The services, which will be…
-
Kenya rocked by protests – Business Daily
•
Anti-government protests resumed in Kenya on Tuesday after a two-week hiatus, with the country’s youth demanding more reforms in both national and local governments. Although President William Ruto gave in to pressure from protesters and withdrew the Finance Bill 2024, He dismissed his entire government. Although the youth have demanded…
-
Moody’s downgrades Kenya after rejection of Ruto’s Finance Bill 2024
•
Global rating agency Moody’s on Tuesday downgraded Kenya’s credit rating, citing the country’s inability to implement austerity measures due to the withdrawal of the unpopular Finance Bill 2024. The downgrade means Kenya’s local and foreign currency debt obligations have moved further into junk territory, from ‘B3’ to ‘Caa1’. A junk…
-
Court halts Kenya Power’s Sh285m emergency towers purchase tender
•
The High Court has ordered Kenya Power and Lighting Company (KPLC) to stop the award of a Sh285 million contract for the procurement of Emergency Restoration Towers (ERTs) and galvanized steel structures for use in premium customer service schemes and various primary and secondary substations. Emergency response systems are structures…
-
Marius van der Ham: AirFrance-KLM Kenya boss privilege and small ego issue
•
The love story of the dark suit and the crisp white shirt has been written ad nauseam, but I didn’t write it. I’m different. It’s not news, but because I said it, it’s new. At least that’s what I think when Marius Van der Ham, Air France-KLM’s general manager for…
-
Kenya economic growth slows down to 5pc in first quarter
•
Kenya’s economy grew at a slower pace of 5% in the first three months of 2024 compared to 5.5% in the same period last year, in a period of turbulent business environment and high interest rates. A report released by the Kenya National Bureau of Statistics showed that all sectors,…
-
NCBA completes buyout of AIG Kenya Insurance
•
NCBA Group has announced the completion of the acquisition of 66.67 percent of AIG Kenya Insurance Company to take full ownership of the company. The lender said it has obtained all necessary approvals from the Kenya Competition Commission, the Insurance Regulatory Authority and the Central Bank of Kenya. The insurance…
-
Kenya Agoa exports dip 42pc, deny traders dollar windfall
•
Kenya’s export earnings to the United States under the African Growth and Opportunity Act (AGOA) fell by 41.7 percent last year, new data shows, hurt by a general decline in garment shipments, denying traders gains during a period when the shilling weakened sharply against the dollar. Kenya exported Ksh65.77 billion…
-
Deadly tax protests leave Kenya facing IMF fallout
•
Parliament on Tuesday approved the controversial Finance Bill 2024, backing recommendations to withdraw some taxes, including taxes on bread, airtime and cars, which were part of a package of reforms Kenya agreed to implement in a deal with the International Monetary Fund. The vote on the amended revenue increase bill…
-
Police fire teargas as Kenya anti-tax protesters demonstrate nationwide
•
Police fired tear gas to disperse demonstrators in the capital, Nairobi, on Tuesday, as a nationwide demonstration against proposed tax increases began. Organizers also called for a general strike against the finance bill, which aims to collect $2.7 billion in additional taxes as part of an attempt to tame a…
-
Kenya settles Sh72bn Eurobond debt balance with World Bank cash
•
Kenya settled the balance of $560 million (Sh72 billion) of 2014 Eurobonds using part of the proceeds from a $1.2 billion World Bank loan, the Central Bank of Kenya said. The debt, which was due on June 14, was settled on Friday, along with the latest semi-annual interest payment of…
-
Kenya settles Sh72bn Eurobond debt balance with World Bank cash
•
Kenya settled the balance of $560 million (Sh72 billion) of 2014 Eurobonds using part of the proceeds from a $1.2 billion World Bank loan, the Central Bank of Kenya said. The debt, which was due on June 14, was settled on Friday, along with the latest semi-annual interest payment of…
-
Chris Githaiga, Ipsos Kenya CEO: “Why my 40s were confusing”
•
Chris Githiga moved to Nigeria for work and almost never returned. It was very addictive; The loud people, the constant buzz of commerce (and generator sets), and the unrelenting hope. Ipsos Nigeria was on its knees when he was sent to revitalize it in 2017, having joined them from global…
-
Chris Githaiga, Ipsos Kenya CEO: “Why my 40s were confusing”
•
Chris Githiga moved to Nigeria for work and almost never returned. It was very addictive; The loud people, the constant buzz of commerce (and generator sets), and the unrelenting hope. Ipsos Nigeria was on its knees when he was sent to revitalize it in 2017, having joined them from global…
-
Kenya Airways quietly extends CEO Allan Kilavuka’s contract
•
Kenya Airways has quietly extended CEO Allan Kilavuka’s term by three years until April 2026, the national carrier’s chairman Michael Joseph confirmed on Friday. Mr Kilavuka was first appointed as CEO of KQ Group in April 2020. He held the acting position between January and March 2020 following the exit…