Browsing: Kenya

• Kenya saw total electricity consumption under the electric mobility tariff category reach 1.80GWh in 2024, marking a 480.65% jump.
• During the year under review, electric vehicles hitting Kenyan roads increased by 41% to 5,294 units.
• Energy sector regulator says the halving of EV excise duty (20% to 10%), VAT exemptions for full-electric cars, and special e-mobility tariffs introduced in April 2023 are driving uptake.

East Africa’s largest economy Kenya is turning into one of the most exciting investment frontier in clean energy with latest statistics showing a steady increase in the adoption of green mobility systems.

In the latest industry statistics shared by the Energy Petroleum Regulatory Authority (EPRA), Kenya experienced 41 percent increase to 5,294 electric vehicles hitting Kenyan roads in 2024 compared to the 3,753 EVs that were reported in 2023.

This number includes two wheelers, three wheelers, cars and even buses during the period under review. As …

• Kenyan avocado exporter Kakuzi PLC suffered $1M net loss in 2024 due to the Red Sea shipping crisis, a stronger Kenyan shilling and climate-related production cuts.
• While avocado exports to Europe plummeted by 72% due to shipping delays and lower yields, the company’s diversified operations—macadamia, forestry, and livestock—posted profits.
• Kakuzi is pivoting to new markets (like North America), investing in agri-tech (AI and drones), and maintaining shareholder confidence with a $0.062 dividend.

The ripple effects of Middle East conflict reached deep into Kenya’s agricultural heartland in 2024, as listed agribusiness firm Kakuzi PLC reported a $1 million (KES131 million) net loss. The avocado fruit exporter recorded $3.5 million (KES451 million) profit in the previous year.

The company’s latest financial results reveal how geopolitical tensions, currency fluctuations, and climate challenges converged to create a perfect storm for one of Kenya’s most established agricultural exporters.

At the center of Kakuzi’s troubles …

• Tanzania has entered into an agreement to build a 5000 capacity conference centers in Arusha city.
• New facility named Mount Kilimanjaro International Conference Centre (MKICC) is projected to be operational in 2027.
• The project will cost $144.7 million (TSh385 billion) and features a hotel, helipad, and modern residential suites.

Tanzania is building what is projected to be East Africa’s largest and most modern conference facility, the Mount Kilimanjaro International Conference Centre (MKICC), in Arusha city. The memorandum of understanding for the construction of the MKICC was signed this week between the Arusha International Conference Centre (AICC) and the Public Service Social Security Fund (PSSSF) .

The project sign off was done by the Executive Director of AICC, Christine Mwakatobe, and the Director General of PSSSF, Abdul Razzaq Badru.

“The project is part of the government’s efforts to boost the country’s meetings, incentives, conferences, and exhibitions in its tourism sector,” explains …

• 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 piling debt. According to her, allocation towards servicing the public debt in the financial year 2024-2025 is set at KSh1.91 trillion, compared to KSh1.87 trillion in 2023-2024, with the country’s average time to maturity for public debt reducing to 7.8 years, down from 9.4 years in 2023.

The allocation comprised …

• African countries undermine their economic growth by prioritising trade with Europe and the United States over regional markets.
• How do we ensure that African countries trade among themselves? asks Dr. Phenyo Butale, Botswana’s Minister of International Relations.
• “We [Botswana] have high-quality beef in Botswana and the North West province, we export it to the European Union, yet Angola and the Democratic Republic of the Congo buy their beef from Brazil. Does that make sense? It doesn’t,” says Dr. Butale.

Despite its vast resources and production capacity, regional trade in Africa remains low with many economies relying heavily on overseas markets. This state of affairs has prompted Botswana to raise the alarm about low levels of intra-African trade.

“It’s disheartening that Africa is still unable to realise trade among its countries,” said Dr Phenyo Butale, Botswana’s Minister of International Relations, delivering a lecture in honour of the late South African Deputy …

• Trump’s escalating aid cuts are crippling global humanitarian efforts, with the UN’s World Food Programme (WFP) now forced to shut its southern Africa office.
• The closure threatens food assistance for millions, as WFP has been leading the response to the region’s worst drought in 40 years.
• With USAID slashing 90% of foreign aid contracts and WFP facing a 40% budget cut, 26 million people across seven countries are at risk of severe hunger.

The escalating U.S. aid cuts under President Donald Trump are impacting millions worldwide, exposing the extent to which American taxpayers have been funding global aid. This raises a critical question: Is Trump’s decision justified?

His administration’s aggressive push to reduce foreign aid—led by the so-called Department of Efficiency in Government—continues to disrupt operations of major international organizations, with the latest casualty being the UN’s World Food Programme (WFP).

Currently, WFP provides food assistance to over 150 million …

• 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 East, and Africa (EEMEA) average of 51 per cent.

According to the survey, older generations in Kenya, including Baby Boomers (93 per cent) and Gen X (90 per cent), are slightly more likely to view themselves as entrepreneurs compared to the 85 per cent of Gen Z, and 89 …

• Part of Afreximbank’s funding will go to Dongo Kundu Industrial Park within the Mombasa Special Economic Zone.
• Another chunk will finance the construction of Naivasha II SEZ that includes a free trade zone, an industrial park, a logistics zone and a public utility area.
• The Naivasha II project will also derive value from its strategic position as it sits on the gateway to East and Central Africa through the Northern Corridor Transport System that serves Uganda, South Sudan, DRC among other countries.

The Afreximbank has entered into a financing agreement with Kenya to finance the development of industrial parks, special economic zones, and export-oriented manufacturing projects to the tune of $3 billion.

In an update, the trade development lender said this three-year investment plan will be critical in bolstering Kenya’s export manufacturing at a time when the East African nation is keen on reviving its ailing manufacturing industry.

“These Parks …

• Marriott International says this investment is tailored to set new standards for high-end, luxury hospitality in some of Africa’s most breathtaking safari destinations.
• Set to open in August 2025, The Ritz-Carlton, Masai Mara Safari Camp is poised to introduce the brand’s world-class service and elegant design in Kenya and Africa.
• Projected to open in 2026, JW Marriott Mount Kenya Rhino Reserve Safari Camp will offer an immersive wildlife experience within a 45,000-acre game reserve.

Kenya’s international standing as the preferred destination for luxury safari tourism has received a huge boost with hotel chain Mariott International announcing plans to open two luxury locations in Kenya’s wonder Masai Mara wildlife ecosystem.

In a statement, Mariott International said it has entered into agreement with Lazizi Mara Limited and Lazizi Solio Limited for the establishment of The Ritz-Carlton, Masai Mara Safari Camp and JW Marriott Mount Kenya Rhino Reserve Safari Camp.

Marriot International noted …

• The 8-member bloc will showcase its diverse attractions under the brand “Visit East Africa: Feel the Vibe” during the March 4-6 trade fair in Berlin, Germany.
• EAC aims to attract international tourists and investors by highlighting the region’s rich cultural heritage, natural beauty, and unique attractions.
• The EAC stand at ITB will also provide an opportunity to member countries to showcase their offerings and further penetrate the international market.

Stakeholders in East Africa’s tourism industry have joined forces to make the East African Community (EAC) the word’s next travel and hospitality hotspot during the March 4th-6th, 2025, International Tourism Bourse (ITB) in Berlin, Germany.

In a statement released on Wednesday, the EAC said it will, for the first time, participate in the global expo as a single entity in the world’s largest tourism trade fair.

According to the EAC Secretary General Veronica Nduva, the bloc will showcase its diverse attractions …