Economy
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Stakeholders Push for Increased Agricultural Funding at FINAS-2025 Summit
Agriculture Cabinet Secretary Mutahi Kagwe has called for urgent and sustained investment in Kenya’s agricultural sector, describing it as an economic imperative and a moral responsibility. Speaking at the FINAS-2025 (Financing Agri-Foods Systems) Summit in Nairobi, CS Kagwe underscored agriculture’s critical role in ensuring food security, economic stability, and equitable development. He urged stakeholders, including…
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CBK Clarifies It Has No Plans to Reintroduce Interest Rate Caps
The Central Bank of Kenya (CBK) has moved to dismiss speculation over a possible return to interest rate caps, clarifying that its recent consultative paper on risk-based credit pricing does not propose the revival of the controversial policy. In a statement released after the close of public submissions on the Consultative Paper on the Review…
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Aviation Pumps Sh425 Billion into Kenya’s Economy
A report released today by the International Air Transport Association (IATA) has revealed that aviation contributed Ksh425 billion (USD 3.3 billion) to Kenya’s Gross Domestic Product (GDP) in 2023, accounting for 3.1 percent of the total GDP. According to the report, the sector also supported 460,000 jobs across the value chain, including those created directly…
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Absa Bank Kenya officially launches its custody business in Kenya
Absa Bank Kenya PLC has officially launched its custody services business in Kenya, further strengthening its corporate business offering to clients in the region. The Absa custody business will offer safekeeping and servicing of assets, settlement of instructions for both local and cross-border investments, compliance and statutory reporting, track and execute corporate actions, portfolio reconciliations…
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KRA Uncovers Sh4.6 Billion VAT Fraud Scheme
The Kenya Revenue Authority (KRA) has uncovered a widespread scheme involving fraudulent invoicing and tax evasion, which has led to significant revenue losses for the government. The revelation follows a probe into abuse of the Value Added Tax (VAT) system, particularly through non-remittance and manipulation of tax obligations. In a stern response, KRA announced that…
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Bolt Introduces Real-Time Flight Tracking for Smoother Airport Pickups
Ride-hailing platform Bolt has launched a new Flight Tracking feature aimed at offering users a more seamless and reliable airport pickup experience, even amid flight delays and last-minute schedule changes. The feature allows users to enter their flight number while scheduling an airport ride, enabling the app to automatically adjust the pickup time based on…
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Kenya’s Inflation Rate Rises To 3.3 Per Cent In January
Kenya’s inflation rate increased to 3.3 per cent in January 2025, up from 3.0 per cent in December 2024, according to the Kenya National Bureau of Statistics (KNBS). The rise comes as the country adjusts to evolving economic conditions, including changes in food, fuel, and transport costs. The KNBS has recently adopted a new methodology…
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