Business News
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KRA Seeks Public Input On New Draft Income Tax Regulations
The Kenya Revenue Authority (KRA) has invited public participation in the development of two key tax regulations aimed at enhancing compliance and aligning Kenya’s income tax framework with international standards. In a public notice issued , the Commissioner General announced that the Authority, on behalf of the Cabinet Secretary for the National Treasury and Economic…
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Kenya and China Deepen Trade Ties Through Expanding Hunan Partnership
Kenya is stepping up efforts to strengthen its trade and investment ties with China as the Kenya National Chamber of Commerce and Industry (KNCCI) hosted a high-level delegation from Hunan Province this week. The meeting, chaired by Richard Ndung’u, head of the KNCCI Kenya–China (Asia) Committee, brought together Kenyan business leaders who took part in…
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KCB Group has entered into an agreement with Pesapal
Kenya Commercial Bank (KCB) has signed an agreement with pesapal limited liability company. With this agreement, KCB will be able to access digital payment infrastructure that serves many small businesses in Kenya, thereby receiving innovative payment solutions. With this investment , KCB is positioning itself to become a major digital financial service provider, as Pesapal…
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Kenya’s Banks Contribute Billion in Taxes, 8% of National Revenue
The banking sector contributed Sh194.81 billion to the National Treasury in 2024, according to a new report by the Kenya Bankers Association (KBA) and PwC Kenya. The figure accounted for 8.09 percent of total government tax revenues, underscoring the sector’s central role in Kenya’s fiscal ecosystem. The Total Tax Contribution of the Kenya Banking Sector…
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Equity Group Profit Jumps 32% on Strong Regional Performance
Equity Group Holdings reported a 32 percent rise in net profit to Sh54.1 billion for the nine months ended September 2025, driven by regional growth and improved asset quality. The lender attributed the performance to strong non-funded income and lower loan loss provisions, reflecting continued resilience across East Africa. The results position Equity Group among…
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Sanlam, Jubilee Allianz Finalize General Insurance Merger
Sanlam General Insurance Limited and Jubilee Allianz General Insurance (K) Limited have successfully completed the amalgamation of their general insurance businesses. In a joint statement dated November 3, 2025, the two firms confirmed that the Portfolio Transfer was finalized on November 1, 2025, after securing all necessary approvals from the Insurance Regulatory Authority (IRA) and…
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KWS Rolls Out Upgraded eCitizen Payment System, “KWSPay”
The Kenya Wildlife Service (KWS) has announced the successful transition from the old eCitizen platform to an upgraded and more efficient payment system, branded as “KWSPay.” In a joint statement issued , KWS and eCitizen Services said the new platform aims to enhance efficiency, transparency, and flexibility in payments for conservation fees and other wildlife…
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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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Money Sent Home By Kenyans Living Abroad Surges
Kenyans living and working abroad sent home Sh488.5 billion in the first nine months of 2025. This was Sh15 billion more than what they sent during the same period in 2024. According to data from the Central Bank of Kenya (CBK), money sent from abroad between January and September 2025 rose by 3.2 percent, reaching…
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FRC Orders All Real Estate Agents to Register by Nov 14
The Financial Reporting Centre (FRC) has issued a new directive requiring all real estate agencies and landlords in Kenya to register with the Centre before Friday, November 14, 2025. The move aims to enforce compliance with the Proceeds of Crime and Anti-Money Laundering Act, 2009 (POCAMLA), which classifies real estate agents as reporting institutions under…
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Equity, Inchcape Launch Affordable Tractor Financing Plan
Equity Bank Kenya has partnered with Inchcape Kenya Limited to roll out an affordable tractor financing scheme funding for New Holland tractors, in a move aimed at boosting agricultural mechanization and productivity across the country. Through the initiative, farmers can access up to 95 percent financing for the purchase of New Holland tractors, with flexible…
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Gov’t to List Pipeline Firm on NSE in Major Privatization Move
The government has approved plans to privatize the Kenya Pipeline Company (KPC) Limited through an Initial Public Offering (IPO) on the Nairobi Securities Exchange (NSE), in a move aimed at unlocking the firm’s full potential and empowering ordinary Kenyans to own a stake in the strategic enterprise. In a public notice, the Privatization Commission said…
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Naivas Supermarket Announces Appointment of New CEO
Naivas Supermarket has announced the appointment of Andreas von Poleske as its new Chief Executive Officer, effective November 1, 2025, marking a new phase in the retailer’s 35-year journey. He takes over from long-serving CEO David Kimani, who is credited with transforming the company from a family business into Kenya’s leading supermarket chain. In a…
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Online Taxi Drivers Form Cooperative to Empower Members
Since its inception in Kenya, online taxi driving has gained momentum with thousands of drivers opting to use ride-hailing platforms like Ubers, Bolt, Faras among others. However, getting into the taxi business is not an easy endeavour. Drivers have to buy vehicles, insure and maintain them or work with vehicle owners who oftentimes charge a…
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CBK Cuts Lending Rate to 9.25% to Boost Cheaper Loans
The Central Bank of Kenya has lowered the Central Bank Rate (CBR) to 9.25 percent from 9.50 percent. The decision was made on Wednesday during a meeting by the Monetary Policy Committee. “The Monetary Policy Committee (MPC) decided to lower the Central Bank Rate (CBR) by 25 basis points to 9.25 percent from 9.50 percent,…
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Kenya Switches China Railway Loans to Yuan, Saving Billions Yearly
Kenya has successfully converted its railway loans from China into Yuan, a move the government says will save the country about Sh27.7 billion annually in debt servicing costs. Treasury Secretary John Mbadi announced the development, saying the conversion is part of the government’s broader strategy to manage currency risks and reduce the cost of external…
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Why Akash Patel Believes Manufacturing Will Save Kenya
Manufacturing is one of the key sectors that has the potential to propel Kenya’s economy to new heights. However, the sector has long struggled with challenges such as poor policy reforms and a punitive tax regime. Currently, manufacturing contributes only 7.6 percent to the country’s Gross Domestic Product (GDP), yet research shows that a one…
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CBK Seeks to Limit Mpesa, Airtel Money Transaction Charges
The Central Bank of Kenya (CBK) now wants to significantly reduce Mpesa and Airtel Money transaction fees. According to CBK’s latest National Financial Inclusion Strategy, the lender says the high transaction costs have led to reduced growth in mobile money usage. It also said that most Kenyans use Mpesa and Airtel Money mainly for person-to-person…
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Parliament Approves Privatization of Kenya Pipeline Corporation
The National Assembly has approved the long-awaited privatization of Kenya Pipeline Corporation (KPC), paving the way for what could be the biggest stock sale in Nairobi in over 20 years. Lawmakers adopted Sessional Paper No. 2 of 2025, which gives the government permission to sell up to 65 percent of its shares in KPC and…
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Why Commercial Banks Wants CBK to Cut Base Rate
Banks now urge the Central Bank of Kenya (CBK) to lower its base rate to make borrowing cheaper and help businesses get more loans. In recent months, lending to the private sector has been slow and many banks say this needs to change. Commercial banks believe that low inflation, a stable Kenyan shilling, and weak…
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