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- Kenyan Manufacturers Raise Objections over Finance Bill 2024 Proposals
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- 2024 Economic Survey: Kenya sparks growth with 848,200 new jobs in a year
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- Kenya’s Marine Potential: Fostering Sustainable Blue Economy
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Industry and Trade
- Finance Bill 2024 Proposals seek to introduce a 25 per cent excise duty on vegetable oils, which KAM says will drive upwards the cost of cooking oil.
- The proposed finance law aims to expand Kenya’s tax base by bringing more economic activities into the tax net.
- This, according to KAM, will lower the cost of living for Kenyans and create prosperity for the country.
The Kenya Association of Manufacturers (KAM) has raised concerns over the state’s proposal to increase the Import Declaration Fund (IDF) from 2.5 per cent to 3 per cent.
In a raft of proposals to the government, the manufacturers highlighted some of the expected impacts of the proposed law on Businesses in the East African nation.
KAM argues that the imposition of IDF will significantly elevate the costs of raw materials, thereby stifling the manufacturing sector’s ability to add value.
In a statement on Monday, May 20, …
- Kenya is pioneering steps towards integrating the concept of the Blue Economy within its governance structure
- Blue Economy has the potential to create direct jobs in the shipping and fishing sectors while indirectly creating jobs
- According to Kenya Maritime Authority (KMA), the industry regulator, Kenya exploits just 8 per cent of the potential of its marine fisheries.
Kenya’s marine potential is vital for social and economic growth and development of the country. Kenya is pioneering steps towards integrating the concept of the Blue Economy within its governance structure have set a precedent for sustainable development in the African continent. With the establishment of the Ministry of Blue Economy, the nation has showcased its commitment to harnessing the vast potential of its marine resources. This move signifies a crucial shift in prioritising the preservation and utilisation of the ocean’s bounty, in line with global sustainability goals.
Kenya has a long coastline …
- The Communications Authority of Kenya has finalised Phase I of the cellular mobile infrastructure project which connected 76 sub-locations.
- The authority also targets the expansion of the postal services and digitally empowering the youth.
- The Authority finalised the rollout of Internet connectivity in 886 public secondary schools spread across 47 counties.
The Communications Authority of Kenya will need at least Sh107 billion ($819.9 million) to protect consumers and foster competitive ICT markets in a bid to establish Kenya as a digital superhighway. While unveiling its five-year strategic for 2023-27, CA Director-General David Mugonyi said the authority would prioritise increased broadband penetration, adoption of emerging technologies and improvement of cyber security as a way of powering the government’s Bottom-Up Economic policies.
The authority also targets the expansion of the postal services and digitally empowering the youth, women and people living with disabilities. “The goals are backed by a robust implementation plan …
This decision comes at a time when South Africa is still struggling with catastrophic power outages and is also attempting to transition away from its reliance on fossil fuels. Causing businesses to steer clear of relying on Eskom, the struggling state-owned utility of the country, for their electricity needs.
Eskom blackouts can last up to six hours, which causes production delays and damages sales.
Eskom, the troubled power corporation responsible for providing most of South Africa’s electricity, has had a challenging time keeping the lights on for many years and has been forced to apply load-shedding to prevent the grid from collapsing.…
- The African Fertiliser and Agribusiness Partnership (AFAP) notes that over 40 per cent of African soils face nutrient depletion because of failure to apply sufficient levels of fertilisers
- Farmers in most countries are increasing their application levels, with the fertiliser application rate in Sub-Saharan Africa expected to increase to 22 kilograms per hectare by the end of 2022
- In Africa, the production of the material is concentrated in the northern parts of the continent
A study by the African Development Bank Group in 2019 revealed that most African countries depend on imported fertilisers for agricultural production.
The imports are mainly due to the lack of low-cost raw materials for production, low utilisation and high capital requirements for investment in production facilities.
According to the African Fertiliser and Agribusiness Partnership (AFAP), over 40 per cent of African soils face nutrient depletion, partly because of a failure to apply sufficient levels of
Two decades ago, music was not considered a serious career in Kenya. Over the years, artists have transitioned from selling their music on compact discs (CDs) to streaming on YouTube and holding live performances. The rising technology has played a big part in this.
According to a report released by PriceWaterhouseCoopers, the Kenyan entertainment industry is ranked third in Africa in revenue. In 2019, it was estimated that the industry raked in Sh 347 billion.
Statista, a market and consumer data company, predicts that the entertainment revenues in Kenya will hit US$2.96 billion (Sh 353 billion) in 2023.…
- Organic agriculture is the use of green manure, compost, biological agriculture, and biological fertilizers derived from animal waste.
- To promote the organic sector in Africa, countries should implement the African Heads of States Decision EX.CL/Dec.621(XVII) on Organic Farming which was made following the report of the Conference of Ministers of Agriculture held in Lilongwe, Malawi in 2010.
- The organic farming market size is expected to grow from $150.63 billion in 2021 to $169.04 billion in 2022 at a compound annual growth rate (CAGR) of 12.2%.
In addition to existing agricultural challenges, pandemics and wars such as the Covid-19 pandemic and the Russia-Ukraine war created issues such as the increase in prices of fuel, food commodities, and particularly agrochemical input.
A shortage of chemical fertilizer, is driving up food costs and creating a crisis for countries in Africa and has many farmers desperate and looking for alternatives. According to The Conversation …
Transnet Freight Rail (TFR) will collaborate with Botswana Rail (BR) to fix parts of the 126 km rail line between Swartruggens, in South Africa’s North West province, and Mafikeng, on the border with Botswana, helping South Africa’s landlocked northern neighbor get its minerals, including thermal coal, to market.
According to an article by Reuters published on August 5, 2022, the rail revamp will enable heavy haul trains to travel from Botswana to South Africa’s ports of Richards Bay and Durban, TFR said. The project aims to be up and running in the next 24 months. However, financial terms were not disclosed.
TFR and BR will also build a rail line from Mamabula in Botswana to Lephalale in South Africa’s Limpopo province.
The two rail companies will work together to fight the “scourge of cable theft and infrastructure vandalism” that is impacting rail services, TFR said, adding this was a “rising …
- Brand Finance ranked giant telecommunications company Safaricom as the most valuable brand
- Equity Group Holdings Limited has become one of the most recognised banks in Kenya under James Mwangi’s leadership
- Tusker Lager emerged as the fastest-growing brand with its value growing by 132 per cent
Brand Finance, a valuation consultancy firm, recently released the list of the most valuable brands in Kenya.
The Brand Finance Kenya 20 2022 ranking listed giant telecommunications company Safaricom as the most valuable brand. The telco has consistently maintained the top spot out of 20 firms surveyed over the years.
Companies in the financial sector services dominated the list.
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Safaricom
Safaricom is the largest telecommunications company in Kenya. The 2021-2022 first quarter sector report released by the Communications Authority of Kenya (CAK) noted that the telco is the market leader with a 64.6% share.
The Kenyan government and Vodacom each control a 35 per cent
