Author: Jack Oduor

Controller of Budget Margaret Nyakang’o said the public debt stock increased by 3% from KSh10.58 trillion as of June 2024, to KSh10.93 trillion as of December 2024. Nyakang’o said major funds, including the Housing Fund, the Railway Development Fund, and the Petroleum Levy, are not part of the Consolidated Fund. She has raised concerns about the government’s reliance on overdrafts from the Central Bank of Kenya (CBK) to service both domestic and external debt. Kenya’s Controller of Budget Margaret Nyakango is calling for the adoption of prudent strategies focused on debt management and revenue collection reforms to check the country’s…

The tussle comes at a time that the harvesting period for mature macadamia nuts in Kenya has just started since 1st March, 2025. Lobby MACNUT and macadamia farmers have called for the regulation of selling prices across the nation. However, the Nut Traders Association of Kenya (NUTAK) contends that an onging ban disproportionately favours processors. Kenya’s macadamia sector is in turmoil following a ban on raw macadamia imports, ripening nuts, and ongoing disputes over the industry’s future. Stakeholders are at a crossroads, with two rival lobbies clashing over export policies. While the government enforces the ban to boost local processing,…

Kenyan women lead region in entrepreneurship spirit, with older women leading the younger pack. Women (49%) are more likely than men (37%) to be uncertain about how to protect their business from cyberattacks. Among women founders in Kenya, 45 per cent started their business to follow their dream. Kenyan women are outshining their regional peers in entrepreneurial spirit, with nine out of 10 considering starting or running their own businesses, a new survey by Mastercard has shown. Compared to the region, 93 per cent of Kenyan women consider starting or running their own business, way above the Eastern Europe, the Middle…

Site: https://theexchange.africa/ The NFT marketplace ecosystem has grown over the years and now offers a wide range of platforms suited to various user needs. The top three online NFT platforms – Magic Eden, OpenSea, and Blur – stand out with their unique features, large user bases, and long list of tradable digital assets. Read on to discover a comprehensive comparison of Magic Eden, OpenSea, and Blur to learn more about the three market-leading NFT marketplaces, and to find out which one’s right for you. Magic Eden Magic Eden is a leading NFT marketplace initially built on the Solana blockchain…

Kenya’s diaspora remittances in October increased by $18.7 million compared a month earlier. CBK in its weekly dispatch announced that the cumulative inflows for the 12 months to October 2024 increased by 15.3%. Despite the dollar inflows from diaspora remittances, Kenya’s currency weakened marginally against the USD in the week ending Nov 15. Kenya’s diaspora remittances increased by $18.7 million (KSh2.4 billion) between September and October 2024, the latest data from the Central Bank shows. Kenyans living and working abroad wire home $437.2 million (KSh56.7 billion) in October, a significant increase from the $418.5 million (KSh54.4 billion) reported the previous…

China integrates mega logistics firms to form the Global Silk Road (Chongqing) Hub Port International Supply Chain Ltd. It would be the major shipping and logistics link between China and its African trade partners, with Congo taking the lead in the greater EA region. Togo, South Sudan, Sierra Leone, and Madagascar are also set to benefit from the joint logistics approach. Kenya is set to benefit from a new plan by China to consolidate several mega logistics firms and development companies into one entity for better trade dealings with Africa. The Global Silk Road (Chongqing) Hub Port International Supply Chain Ltd…

Africa’s hospitality sector has matured in ways that not only meet but anticipate the desires of modern travellers. By embracing responsible tourism, fostering local community interactions, and providing avenues for health and wellness, Africa is redefining what it means to travel meaningfully. Africa’s lower cost of living is making it an attractive destination for digital nomads. Africa’s hospitality sector has long offered unique experiences and the 2025 travel trends show a continent aligning in unique way to tap changing preferences of holidaymakers from different source markets across the world. By February this year, an estimated 150,000 European tourists had visited South…

The Policy Guide for the Gig Economy proposes five key interventions, including the establishment of a tripartite forum to set industry standards Currently, 1.2 million workers, most of whom operate within the informal sector, are employed in the gig economy. It also outlines the steps needed to expand special economic zones to accommodate gig work’s virtual, international nature. Kenya has developed a policy guide that will structure how the Gig economy works. The “Policy Guide for Digital Economy Progress,” developed in collaboration with the Mastercard Foundation, eMobilis Technology Institute, and Africa Practice, offers a comprehensive roadmap to reform Kenya’s gig…

Mandatory IFRS sustainability reporting in Kenya will begin from 2027 to 2029. For the SMEs that are non-public interest entities, mandatory onboarding will begin on January 1, 2029. This unified framework aims to provide consistent and comparable information, benefiting investors and fostering transparency across Kenyan markets. Kenyan firms will from 2027 be able to directly compare the performance of their Environmental, Social and Governance (ESG) initiatives with other companies globally as the country moves to adopt reporting under a common standard worldwide. The country has initiated a plan to adopt the sustainability reporting under the International Financial Reporting Standards two…

AMSONS Group granted regulatory go ahead to acquire Bamburi cement. The family-owned business has partnered with KCB Investment Bank as its transaction adviser. Amson made its initial offer when Bamburi Cement’s shares were trading at Sh45, but the stock has since risen, trading at Sh66 on Thursday afternoon. Tanzanian business conglomerate AMSONS Group has received regulatory approval from the COMESA Competition Commission for its proposed acquisition of up to 100 per cent of Bamburi Cement. The move coming at a time that Kenya’s Savannah Clinker Limited has already raised its bid for the acquisition of Bamburi Cement, even though its…