Author: Jack Oduor

Kenya’s bilateral loans data show that the Asian giant is still a major lender to Kenya mainly for the development of roads rails and port infrastructure. The country’s debt as of March 2024 comprised of $80.9 billion (Sh10.4trillion) comprising $40.5 billion (Sh5.2 trillion) domestic and same amount in external loans. In the past three months the strong shilling has come in handy in helping the state reduce its debt. Kenya owes China $7.2 billion (Sh920.52 billion) in loans making it the leading lender by country rankings, even as President William Ruto looks west for more financing and trade cooperation. Official…

Efficient public spending in Kenya has been elusive over the year with the East African country forced to borrow to meet its budget Further the firm is recommending more performance based incentives for industries by the government to enable grow the jobs offering. PwC adds that Proposed allocation of Sh4.5 billion for County Aggregation and Industrial Parks (CAIPs) will help to reduce post-harvest losses. Experts are warning Kenyans to brace for a tough 2024-25 financial year as the government moves to ramp up revenue measures to finance the recently released budget. A post budget analysis by Audit firm Deloitte has…

NGOs operating in Kenya that fail to seek registration shall cease to have Public Benefit Organization (PBO) status thirty (30) days after the expiration of the specific notice. Under the PBO Act, no organisation shall purport to be a PBO unless it is registered under the PBO Act or has been bestowed the status of a PBO. Previously, the Cabinet Secretary could, by notice in the Gazette, exempt certain NGOs from registration. Non-Governmental Organisations operating in the country will now be required to register afresh in the next 12 months or cease operations, as the state moves to streamline the…

Flight Capacity in 2024 increased by 6 per cent increase in available seats, rising from 15.1 million in May 2023 In Kenya, the Kenya Civil Aviation Authority (KCAA) is leading efforts to validate draft aviation regulations aimed at enhancing safety and efficiency ASK combines the capacity of an airline’s fleet with the distance those planes fly, providing a comprehensive measure of available passenger capacity over a given period. African Airlines witnessed a 6 per cent increase in available seats, rising from 15.1 million in May 2023 to 15.9 million in May 2024, attributed to introducing new routes and increased flight…

Kenya Signs $284.1 Million Financing Deal with Korea in what will come as a boost to its media industry This Facility will have linkages to digital hubs initiative that seeks to develop 1450 digital hubs The signing of the financing agreement comes at a time when Kenya is pursuing global partnerships with established media industry players. Konza Digital Media City Kenya has signed a Ksh38 billion ($284.1 million) financial agreement with Korea for the construction of a state-of-the-art Digital Media City at Konza Technopolis. The Konza Digital Media City (DMC) project is designed to position Kenya as a creative and…

VFS Global Visa Processes saw a global substantial increase of 35 per cent The tourism sector saw a rebound in 2023, with global travel recovering from the COVID-19 pandemic. VFS Global extended its strategic investments through signature programs in Indonesia, Thailand, and South Africa VFS Global, the world’s largest outsourcing and technology services specialist for governments and diplomatic missions, achieved new sustainability targets according to its fifth edition of the Integrated Sustainability Report 2023. Among key achievements in 2023 include a 35 per cent increase in the number of visa applications processed worldwide and other markets globally, as well as…

Small businesses struggle for credit as lenders channel 80 percent to Medium Sized Enterprises  High collateral requirements and unfavourable interest rates have been found to disadvantage MSMEs Only 16 percent of businesses are reaping from Kenya’s formal MSMEs financing market valued at $45.4 billion (Sh5.9 trillion). Only 1.1 million micro, small, and medium enterprises in Kenya have access to formal credit out of the total 7.4 million MSMEs in the country. This equals only 16 percent of businesses reaping from Kenya’s formal MSMEs financing market valued at $45.4 billion (Sh5.9 trillion). According to a new finding by pan African market…

Kenyan Shilling to Reach Sh138 this month as effects of global rates and heavy rains come alive Additionally, the minor decline in the foreign exchange reserves between April and May signals interventions in the forex market by the CBK. The CBK is expected to leave rates unchanged at 13 per cent at its June meeting to support these dollar inflows and provide positive yields to investors. Financial experts are now predicting that the Kenyan shilling will depreciate to Sh138 against the US dollar by the end of June 2024. The analysist from pan African market insights firm Stears, say that…

African Economic Outlook 2024 calls for an overhaul of the global financial architecture to transform African economies. Seventeen African economies are projected to grow by more than 5 per cent in 2024, potentially increasing to 24 by 2025. Growth in Southern Africa is projected to pick up slightly from an estimated 1.6 per cent in 2023 to 2.2 per cent in 2024 East Africa is projected to lead GDP growth on the continent, amidst global challenges, according to the African Development Bank Group’s African Economic Outlook 2024 report. This region is expected to see the fastest growth, with real GDP growth rising…

Kenya’s Export Promotion and Branding Agency has unveiled its strategic plan to grow Kenya’s export market to $11.5 billion by 2028. For established markets, Kenya aims to implement consolidation and diversification interventions. In the period Kenyan exports grew by over Sh2 billion into the country’s top 25 markets. Kenya’s Export Promotion and Branding Agency has unveiled its strategic plan to grow Kenya’s export market to $11.5 billion by 2028. This will be a 10 percent increase from the $ 6.7 billion (Sh873.1 billion) recorded in 2022. The agency through the implementation of the 2023/2024 – 2027/2028 strategic plan, says Kenya…