Phaisal Kutukai
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Kenya’s Sh12 Trillion Debt Puts Economy at Risk, World Bank Report Shows
Kenya’s fiscal space is tightening rapidly as high public debt and weak revenue collection push the country toward a critical economic turning point, the World Bank warns in its latest assessment. The findings are published in the Bank’s Country Focus Report, released Monday in Nairobi as part of the 32nd Kenya Economic Update. According to…
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KCB Profit Jumps to Sh47.3bn as Assets and Revenue Rise
KCB Group Plc posted a profit after tax of Sh47.3 billion for the nine months ending September 2025, powered by higher income across its business lines and tighter cost controls. The lender said the performance reflects strong resilience despite a difficult operating environment across its regional markets. The Group’s balance sheet expanded 2.6 percent to…
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CA Denies Ordering Biometric Data Collection in New SIM Registration Rules
The Communications Authority of Kenya (CA) has dismissed public concerns that new SIM card registration regulations require the collection of biometric data, insisting that no such directive has been issued to mobile operators. In a press statement, the regulator said recent commentary suggesting mandatory biometric capture was unfounded,adding that the revised rules published in May…
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CBK, CMA Announce Commencement of Virtual Assets Service Providers Act, 2025
The Central Bank of Kenya (CBK) and the Capital Markets Authority (CMA) have announced the official commencement of the Virtual Assets Service Providers (VASP) Act, 2025. The Act gazetted on October 21, 2025 came into effect on November 4, 2025, and establishes a legislative and supervisory framework for Virtual Asset Service Providers, including measures to…
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Meta, Safaricom Launch Oman-Kenya Submarine Cable
Meta, the parent company of Facebook, has entered into a strategic partnership with Safaricom to roll out a new high-capacity submarine cable linking Oman and Kenya. The project aims to strengthen digital connectivity, improve internet speeds, and enhance network reliability across East Africa, a region increasingly dependent on fast and stable online access. The agreement,…
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Relief for Borrowers as CBK Approves More Digital Credit Providers
The Central Bank of Kenya (CBK) approved licenses for 27 more Digital Credit Providers (DCPs), bringing the total number of licensed lenders to 153. In a statement released on Thursday, CBK noted that this development follows the licensing of 41 DCPs in June 2025, just three months ago. The regulator revealed that since March 2022,…
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Big Relief for Fintechs as Court Scraps VAT Charges
The High Court has ruled that fintech companies offering payment services are exempted from value-added tax (VAT), overturning an earlier Tax Appeals Tribunal decision in a case involving payments startup Pesapal and the Kenya Revenue Authority (KRA). Justice Rhoda Rutto held that digital payment providers perform functions quivalent to banks dealing a major setback to…
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Liberty Kenya Holdings Appoints Richard Etemesi as New Chairman
Liberty Kenya Holdings PLC has announced a major leadership transition with the retirement of its long serving chairman, Phillip Odera, effective September 7, 2025. The company made the announcement through a public notice on Tuesday, confirming that Mr Odera will step down from both his role as a director and chairman of the board. READ…
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Kenya Airways Takes Loan Route to Boost Fleet – Here’s Why
Kenya Airways (KQ) announced on Tuesday that it plans to raise at least Sh64.5 billion in additional capital to expand and modernize its fleet by the first quarter of next year. The carrier, ranked among Africa’s top three airlines, reported a pretax loss of Sh12.17 billion ($94.34 million) for the first half of the year,…
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How KRA Recovered Sh86 B Under Tax Dispute Resolution Program
The Kenya Revenue Authority (KRA) has announced the recovery of Sh86.5 billion through its Tax Dispute Resolution programme. According to a statement by the taxman, the funds were unlocked through a mix of independent reviews, including the Alternative Dispute Resolution (ADR) mechanism and successful court litigation. “During the review period, Sh18.9 billion was collected through…
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Wandayi Moves to Attract New PPP After Collapse of Adani Deal
Energy Cabinet Secretary Opiyo Wandayi has announced that the ministry is nearing completion of a new public-private partnership (PPP) deal in the energy transmission sector. Wandayi revealed that the project will be spearheaded by a consortium led by Africa50 and will focus on constructing two major transmission lines: Lessos–Lesuk and Kibos–Kakamega–Musaga. “There is another public-private…
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Explained: Why Government Introduced the Sugar Development Levy
The government has introduced a 4 percent Sugar Development Levy (SDL) on both locally produced and imported sugar, effective July 1, 2025. In a statement, the Ministry of Agriculture said the levy aims to support the revival of the struggling sugar industry. The levy will be calculated at 4 percent of the ex-factory price for…
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Kenya, UK Sign Agreement Unlocking Billions of Investment
President William Ruto and UK Prime Minister Keir Starmer have signed a renewed five-year Kenya-UK Strategic Partnership agreement aimed at unlocking over Sh427 billion in investments. According to a statement seen by JEDCA MEDIA, the agreement was reached following bilateral talks held in London. The investment package focuses on four key areas: As part of…
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CBK Revokes BAHL Licence Following its Exit from Kenyan Market
The Central Bank of Kenya (CBK) has revoked the operating licence of Bank Al-Habib Ltd (BAHL) after the bank opted to exit the Kenyan market. In a statement released on June 30, 2025, CBK announced that the licence cancellation took effect on May 15, 2025. “The Central Bank of Kenya announces the cancellation of the…
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Elon Musk unveils screen-based advertising pricing model on X.
Billionaire entrepreneur and X (formerly Twitter) owner Elon Musk has announced a major change to the platform’s advertising pricing model. In a post on X, Musk revealed that the platform will begin charging advertisers based on the vertical size of their ads rather than traditional engagement-based metrics. “X is moving to charging for ads based…
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Union Raises Alarm Over Telkom Kenya Crisis as Investor Deal Stalls
Telkom Kenya employees are growing increasingly frustrated over prolonged delays in securing a strategic investor, a situation they say has pushed the state-owned telecom company into a deepening crisis. Since 2020, the government has struggled to bring in a new investor to revive the struggling telco, with repeated promises failing to materialize. The Communication Workers…
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Chinese Company To Invest Sh13 billion in Kenya’s Tea Industry
A Chinese company is set to inject Sh13 billion into boosting Kenya’s orthodox tea exports. Zhang Chaobin, Chairperson of Benny Tea met with President William Ruto in Nairobi where the two agreed on thee investment. The initiative aims to strengthenn the presence of Kenyan tea in the Asian market. The company will focus on modernizing…
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State Faces Sh125 Billion Dilemma Over Titanium Revenue Dip
The depletion of commercially viable titanium ore reserves in Kwale County is now jeopardizing the government’s ambitious targets for the mining sector. As outlined in the 2023–2027 strategic plan by the State Department for Mining, the government aims to boost revenue from the sector from Sh15 billion in 2023/24 to Sh125 billion by 2027/28. This…
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Nyamira Allocates Sh300 Million to Healthcare in 2025/26 Budget.
Nyamira County is set to inject Sh300 million into its healthcare system in the upcoming financial year to enhance service delivery in public hospitals, Governor Amos Nyaribo has announced. Speaking on Friday, May 23, 2025, during the burial of teacher Johnson Obanyi in Esanige, Magwagwa Ward, Governor Nyaribo emphasized that healthcare remains a top priority…
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State to Leverage PPPs and Technology in Sh2.5bn Clean Energy Initiative
Energy Cabinet Secretary Opiyo Wandayi has announced that the Ministry of Energy will require an additional Sh2.54 billion in financial and technical resources over the next two years to implement its planned clean energy initiative. This comes as the government intensifies efforts to grow the energy sector in response to the increasing demand for electricity…
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