Kenya’s Sh66Bn bet on Bomet-Narok line to stabilise power supply
Kenya is banking on a Kes66 billion investment in a new electricity transmission line to address persistent power outages that
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Economy
Ndiinomics: How Kenya wants to reap without sowing
I missed a part of the most significant intellectual battle in Nairobi when Dr David Ndii emerged from anonymity of X, formerly Twitter, to face his equally formidable peers. I found myself needing to be in two places simultaneously, but fortunately, thanks to Kenya’s industriousness, the event was broadcasted live and became part of the extensive volume of content that the country contributes to the industrial data economy. This achievement was made possible through the foresight of President Mwai Kibaki’s government, which connected Kenya to the world through an undersea cable, enabling the nation to establish its digital prowess and tap into emerging economic opportunities…
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The last of the 8-4-4 system
Kwisha! The system most of us went through is almost breathing its last. The 8-4-4 system is quickly approaching its conclusion, with the last cohort of primary learners expected to take their final Kenya Certificate for Primary School examinations (KCPE) next Monday. Approximately 1.4 million learners will sit for their Mathematics test on October 30 as Kenya marks its second major curriculum change since transitioning from the 7-4-2-3 system in 1985. This same cohort will sit for their KCSE in 2027 to fully replace the 8-4-4 system and embrace the new CBC system.The system was introduced in 1985 by President Daniel arap Moi, consisting of…
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What you need to know about Kenya’s new law against dirty money
The Law Society of Kenya (LSK) is now required by the law to report suspicious financial transactions related to lawyers as Kenya steps up the fight against money laundering. According to the 2021 National Risk Assessment (NRA), the legal profession was identified as having a high vulnerability to money laundering. This was primarily due to the abuse of client-attorney privilege and the exclusion of law firms from the category of reporting institutions. By law, lawyers are now obligated to report suspicious transactions when involved in the purchase and sale of real estate or the management of client assets and accounts. They are also required to
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Black tax hit Kenyans as State switches up service fees
The government is reviewing old laws to increase charges for bureaucratic services in an effort to generate more revenue from ministries, departments, and agencies, popularly known as “appropriation in aid” (AIA). National Treasury, as well as the Ministries of Ports, Lands, and Housing, have all turned to existing legislation to raise charges for services in an attempt to collect more funds to support their operations. The government is committed to increasing revenues and has set higher targets for ministries, departments, and agencies to generate funds from fees, fines, and levies. This will result in higher costs for accessing state services. Already, the Ministry of Lands…
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ABSA stocks index plagued by dollar shortages
In 2023, nearly one-third of the capital markets monitored in the Absa Africa Financial Markets Index experienced capital outflows, significantly affecting their performance. Among the affected countries were Kenya, Nigeria, Uganda, Ghana, Egypt, Cote d’Ivoire, and Madagascar, all of which saw their stock market scores decline due to forex depreciation. The increasing interest rates in developed countries have led to a withdrawal of dollars from emerging economies. Simultaneously, these emerging economies are grappling with substantial dollar loan repayments, driving up demand for the greenback. As a result, local currencies and stock market capitalization have depreciated. Rising interest rates In response to these challenges, authorities are
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From crop to cup: Logistics is key to revitalising Kenya’s coffee industry
Climate change and deforestation mean your morning cup of coffee may face extinction by 2050 according to reports from the Fairtrade Foundation, this comes at a time when the world’s demand for coffee is already outstripping supply. Logistics support for a booming Kenyan coffee industry has never been more critical to ensure the world’s demands for its morning cuppa are met, but also to grow the Kenyan economy. “Moving a coffee bean efficiently from a farm in rural Kenya to a coffee shop in central London is critical for the revival of the Kenyan coffee industry,” says Zaid Khammash, Managing Director, Operations, Kenya, at FedEx.
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Global oil surge and IMF clean energy agenda fuels Kenya’s inflation
The Energy and Petroleum Regulatory Authority (EPRA) has increased the cost of Super Petrol to Kes211.64, Diesel to Kes200.99, and Kerosene to Kes202.61 per litre in Nairobi. Epra announced the maximum allowed petroleum pump prices in Nairobi would increase by Kes16.96 on Super Petrol, by Kes21.32 per litre on diesel and Kes33.13 on kerosene ushering in a new round of cost pressures on consumers as transport costs is transmitted through the entire economy. Cost of consumer products Although inflation has been coming down on bumper food harvest, cost pressures from expensive fuel and declining shilling is about to hit the market as fuel prices transmit…
Read MoreThe company taking out 3 percent of Nairobi’s trash
Within the shadows of our present day society, a hidden menace looms large: WASTE. The aftermath of unchecked consumption coupled with inadequate waste management keeps growing towering mountains of garbage in informal areas such as Dandora’s dumpsite and Mathare seeping back into our ecosystems via our city’s rivers. Even though Kenya banned single-use plastics in 2017, plenty of merchandise packaging, used clothing, straws, and food-grade plastics are moving between our houses and landfills. Sometimes, they find their way back onto our table tops as recycled materials. Earlier on this year, an orange coloured lorry with modified containers labeled “Taka Taka Solutions” would have passed me
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Unga Group’s Amana shines anew with an expanded portfolio
Listed food processor Unga Group is embarking on a strategic journey to reshape the landscape of Kenya’s packaged consumer staple foods market. Amana’s range of products, which currently features yellow beans, black beans, rosecoco beans, nyayo beans, green grams, Basmati, and Pishori rice, will now include Premium Sugar, long grain rice, and soon pasta. The company’s latest move involves the revitalization of its signature Amana brand, complete with expansion of its product range to meet the surging demand for nutritious and high-quality food products. Company says Amana brand, which debuted in 2014, has been reimagined as a powerhouse for nourishing foods that cater to modern
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