• In a fresh strategy, Kenya Tourism Board (KTB) says arrivals from China hold massive potential in contributing to the country’s tourism earnings.
• China accounted for 82,180 and 83,388 arrivals in 2018 and 2019 respectively positioning itself as Kenya’s sixth largest source market.
• Before the pandemic, China was the world’s largest outbound travel market with over 150 million travelers, whose spending contributed up to $255 billion to global tourism industry. 

The Kenya Tourism Board (KTB) is looking to capitalize on outdoor and nature-based tourism experiences, a move aimed at attracting a significant number of Chinese tourists to sample the sector’s offerings in East Africa’s largest economy. 

KTB Chairperson Francis Gichaba says the initiative is part of the state agency’s efforts to shore up tourism numbers from the growing Chinese market even as the industry recovers from Covid-19 pandemic-induced hit.

Mr Gichaba said the new strategy is aimed at increasing arrivals from …

• Central Bank of Kenya (CBK) data shows remittance inflows in March hit $357.0 million compared to $309.2 million in February, an increase of 15.5 percent.
• Kenyans living and working abroad sent home $349.4 million in January, with the February figure being the lowest receipt since July last year. 
• The cumulative inflows for the 12 months to March 2023 totaled $4 billion compared to $3.9 billion in a similar period in 2022.

Kenyans in the diaspora sent home more money in the month of March compared to February and January, defying inflationary pressures being felt by households across the globe.

Central Bank of Kenya (CBK) data shows remittance inflows in March totaled $357.0 million compared to $309.2 million in February, an increase of 15.5 percent.

The inflows were $349.4 million in January, with the February figure being the lowest receipt since July last year.

The cumulative inflows for the 12 months …

• The Monetary Policy Committee (MPC) on Wednesday noted the sustained inflationary pressures, the elevated global risks and their potential impact on the domestic economy.
• CBK sees a scope for a further tightening of the monetary policy in order to anchor inflation expectations.
• Overall inflation in Kenya increased to 9.2 percent in February 2023 from 9.0 percent in January, mainly driven by higher food prices.

The Central Bank of Kenya (CBK) has revised upwards the benchmark rate by 75.0 basis points to 9.50 per cent, in its latest move to try and tame the rising inflation in the country.

This is up from 8.75, signaling a higher cost of borrowing in the market.

Its decision making organ–the Monetary Policy Committee (MPC) on Wednesday noted the sustained inflationary pressures, the elevated global risks and their potential impact on the domestic economy, and concluded that there was scope for a further tightening of …

• Kenya’s Cabinet Secretary for Investment, Trade, and Industry Moses Kuria is leading a high-powered government delegation to London for the Economic Partnership Agreement and Investment meeting.
• Kenya is leveraging on the talks to intensify pitches to investors.
• This is in an effort to net at least $10 billion in Foreign Direct Investments (FDIs) this year.

Kenya’s Cabinet Secretary for Investment, Trade, and Industry Moses Kuria is this week leading a high-powered government delegation to London for the Economic Partnership Agreement and Investment meeting, that Kenya seeks to intensify pitches to investors.

The government is aiming to net at least $10 billion in Foreign Direct Investments (FDIs) this year in a plan mooted by the Kenya Investment Authority.

The forum is being held through a Ministerial Council meeting on the Economic Partnership Agreement, which was scheduled to kick-off on Tuesday, March 21, 2023 in London.

“The forum will provide a platform …

• The survey was conducted by interviewing over 33,000 customers of all member banks of KBA.
• The results of the survey were released on Wednesday at a media briefing hosted by KBA, at the Sarova Stanley Hotel in Nairobi.
• This re-affirms the bank’s position as the financial institution offering the most fulfilling customer experience in the industry, Group Managing Director & CEO Dr Gideon Muriuki said.

The Co-operative Bank of Kenya has emerged as the overall winner in the Customer Satisfaction Survey conducted by the Kenya Bankers’ Association (KBA).

The survey was conducted by interviewing over 33,000 customers of all member banks of KBA.

The results of the survey were released on Wednesday at a media briefing hosted by KBA, at the Sarova Stanley Hotel in Nairobi, where Co-op Bank was presented with a certificate of recognition for excelling in customer service based on the survey’s findings.

This award comes barely  …

• Housing demand in Kenya is estimated at 250,000 units annually.
• With a supply of only 50,000 new houses annually, there is an 80 per cent annual housing deficit.
• President William Ruto has detailed his plan to deliver 200,000 housing units annually.

Kenya has had an ambitious plan to address the housing shortage in the country, with the two past regimes placing affordable housing as one of the key priorities.

Housing demand in Kenya is estimated at 250,000 units annually. With a supply of only 50,000 new houses annually, there is an 80 per cent annual housing deficit.

The previous government led by former President Uhuru Kenyatta had an Affordable Housing Programme that had targeted to deliver at least 500,000 units by last year, but failed way below with less than 10 percent  of intended units being delivered by 2022.

President William Ruto has detailed his plan to deliver 200,000 housing …