Browsing: Kenya National Bureau of Statistics (KNBS)


Nairobi will continue purchasing fuel on credit from three state-owned Gulf oil marketers until December 2024 in a plan the government is banking on to ease piling pressure on Kenya’s forex reserves.
The move comes in the wake of high expenditure on oil imports even as Kenya remains a net importer grappling with a widening trade deficit that hit $10.8 billion last year. Last year, Kenya’s expenditure on imports rose by 17.5 per cent to $16.9 billion (KSh2.5 trillion), despite growing export volumes.…

National Treasury Kenya
  • Businesses in Kenya are facing the impact of tightened monetary policy that is resulting in high lending rates.
  • The government is under increasing pressure from investors to settle huge pending bills.
  • At the same time, the Kenya Shilling is steadily losing ground against major world currencies, piling pressure on external debt obligations.

In the second half of the year, business optimism for companies and sectoral growth prospects in Kenya appears to be subdued, largely influenced by the dual challenges of high taxes and a weakening Shilling.

The government's task of balancing rising debt levels with tax revenue generation is taking center stage in a scenario complicated by other economic factors.

A confluence of high-interest rates within the banking sector, a politically sensitive environment, the accumulation of pending bills that impact private sector cash flow, and the depreciation of the Kenyan Shilling is painting a complex business environment.

The Shilling has…

Fuel inflation
  • Kenya’s inflation has eased for the second month in a row since hitting 8% in May.
  • The drop in the cost of living came despite increased taxes on pump prices that is manifesting in higher transport costs.
  • Previously, Central Bank Governor Kamau Thugge projected Kenya’s inflation to fall within the target band of 2.5% to 7.5% by October.

Kenya’s inflation eased in the month of July, going below the Central Bank of Kenya’s target range of between 2.5 per cent and 7.5 per cent for the first time in over a year. In the month under focus, Kenya’s inflation dropped to 7.3 per cent down from 7.9 per cent in June. The drop in the cost of living came despite increased taxes on pump prices that is manifesting in higher transport costs.

Consumer prices went up by 7.3 percent annually in July, marking the slowest rate in 14 months. This …

Base Titanium
  •  In Kenya, mining yields high-grade quantities of gold, copper, ilmenite and tantalum.
  • Kenya is an important source of non-metallic minerals including soda ash, limestone, salt, niobium, fluorspar and fossil fuels.
  • Titanium ores have for the last decade remained top mineral forex earner for Kenya.

A plan to give Kenya's mining sector a makeover is underway, with policymakers banking on reforms that can attract investors as the country seeks to grow the revenue base.

The move comes four years since the 2019 government moratorium on the issuance of new prospecting and mining licenses. At the time, the government had not renewed licenses since 2015 when about 65 companies saw their permits revoked.

Those in operation run under a gazette notice. For companies whose permits expire, they are forced to seek special clearance from the ministry. The freeze on issuance of new licenses was to allow for geospatial surveys to map out…

Kenya National Treasury.
  • Kenya's forex reserves dipped to $6.2 billion on May 19, an eight-year low, before a slight improvement to $6.4 billion on May 26.
  • At $6.4 billion, Kenya's reserves are just 3.60 months of import cover, which is below the Central Bank of Kenya’s desired target.
  • What's more, the reserves are below the East Africa Community preferred threshold of 4.5 months of import cover, hence exposing the country to high volatilities in the global market.

A dip in export earnings, coupled with reducing diaspora inflows at a time of huge debt repayments have left Kenya grappling with low forex reserves, raising concerns on the health of East Africa's economic powerhouse.

The low forex reserves are further compounding the dollar shortage problem that has been gripping importers for months. Importers, mainly in the manufacturing and the energy sectors, have been struggling to secure the greenback to replenish their suppliers.

Kenya's forex reserves

Kenya Tea Exports
  • Across the East Africa region, Rwanda posted the strongest performance.
  • Uganda’s economy grew by 4.4 percent in 2022 compared to a 6.7 percent uptick in 2021.
  • Tanzania’s real GDP expanded by 4.5 percent in 2022 compared to 4.9 percent growth in 2021.

Kenya’s economy recorded a slower growth of 4.8 percent last year as agriculture slumped due to severe drought. In 2021, Kenya posted 7.6 percent growth as the country emerged from Covid-19 induced economic fallout.

Latest data from the Kenya National Bureau of Statistics show that East Africa’s economic powerhouse growth outpaced its neighbours. Kenya saw its nominal GDP increase to $98.24 billion, from $87.98 billion in 2021, retaining its pole position over East African peers.

Uganda’s economy grew by 4.4 percent in 2022 compared to a 6.7 percent growth in 2021. The marginal drop was partly on account of recovery in hospitality and other service sectors as schools …

Kenya’s economic recovery

Kenya’s inflation has marginally dropped for the third straight month providing relief to households that have been battling runaway inflation since April last year.

The overall year-on-year inflation rate as measured by the Consumer Price Index (CPI) was 9.0 per cent in January 2023, down from 9.1 per cent in December and 9.5 per cent in November last year.

It hit a five-year high of 9.6 per cent in October 2022, data by the Kenya National Bureau of Statistics (KNBS) shows. The lower inflation (measure of the cost of living) in January however remains above the preferred ceiling of 7.5 per cent.

According to the government statistician, the high inflation was due to increase in prices of commodities under transport (13.1%), food and non-alcoholic beverages (12.8%) and housing, water, electricity, gas and other fuels (7.3%) between January 2022 and January 2023.

These three divisions account for over 57 per …

Growth in employment earmarks Kenya's post-pandemic economic recovery.
  • Economic activity increased by 7.5 per cent, compared to a 0.3 per cent decrease the previous year, when operations were nearly halted due to pandemic containment measures.
  • The rise in 2021 was driven mainly by improved performance in manufacturing, commerce, transportation, real estate and financial services, which gained from the re-opening of the economy.
  • An estimated 926,000 new employment were generated in Kenya during the last year, supporting the country’s economic recovery.

The last year has set the pace for economic recovery following the Covid-19 pandemic. According to the Kenya National Bureau of Statistics (KNBS) data, Kenya’s economy recovered in 2021 to expand at the quickest rate in 11 years. The relaxation of Covid-19 restrictions has aided the recovery of essential industries, except for agriculture, which low rains have hampered.

Economic activity increased by 7.5 per cent, compared to a 0.3 per cent decrease the previous year, when operations were

Mobile money transactions can help African farmers create a creditworthiness profile to help them get funding. The integration of digital technology into agriculture represents a major opportunity for Africa and food security on the continent

While digital lenders in Kenya have agreed that Kenyans indebted to more than one mobile lending application will no longer continue accessing loans from multiple lenders, the tables are turning.

In what could be a silent coup against these lenders, Kenyans feel that the tactics used by some of them to recover debt are overboard and breach barriers which should not be broken.

The Digital Lenders Association of Kenya’s (DLAK) desire is to have Credit Reference Bureaus (CRB) put in place a mechanism that will enable DLAK’s members to acquire a borrower’s credit history in real-time. The target is to lock out borrowers with poor credit scores if the proposal sails through.

Hostile treatment

However, while this has been done, borrowers feel that some of the lenders have been going overboard and even breaching privacy in their loan recovery mechanisms.

According to Ajua, an Integrated Customer experience company, Kenyans want …

Kenya's population has grown by 9.9 million people over the last ten years to reach 47.6 million. President Kenyatta says the current census results will guide successful planning and implementation of government development initiatives, including the Big Four Agenda.

Kenya’s population has grown by 9.9 million people over the last ten years to reach 47.6 million this year, latest official government data has revealed.

According to the 2019 ‘Kenya Population and Housing Census’ results presented to President Uhuru Kenyatta this week at State House Nairobi, the total population enumerated during the census exercise conducted in August this year was 47,564,296 persons.

The results indicate that the female population which stands at 24,014,716 accounts for 50.5 per cent of the total population while the male population is 23,548,056 persons.

The 2019 census report, presented to the Head of State by Director General of the Kenya National Bureau of Statistics (KNBS) Zachary Mwangi shows that Nairobi is the most populous county in the country.

Nairobi , which is also Kenya’s capital city, has a population of 4.4 million people followed by Kiambu (2.4 million), Nakuru (2.16 million), Kakamega (1.87 million) …