Category: Economy&Finance
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The Kenya Tea Development Agency (KTDA) has moved to address concerns raised by farmers and the public regarding this year’s tea second payment (popularly known as bonus) across the country. According to KTDA, the drop in earnings is mainly attributed to international market conditions and currency exchange movements that were less favourable compared to last…
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A collage image of the KTDA Board and farmers picking tea leaves. PHOTO/KTDA The Kenya Tea Development Agency (KTDA) has addressed concerns from tea farmers over this year’s second payment, commonly known as the bonus, which has dropped significantly compared to 2024. In a statement on September 30, KTDA attributed the decline to global market…
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The Energy and Petroleum Regulatory Authority (EPRA) has closed about 10 fuel stations across the country for selling contaminated or export-bound motor fuels. The stations are located in Nakuru, Uasin Gishu, Kisumu, Machakos, Makueni, Bungoma, Vihiga, Nyandarua, Kwale, Kilifi, Meru, and Mombasa counties. According to the regulatory body, the stations were found to be trading…
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The Nairobi International Financial Centre (NIFC) has been officially admitted as the 21st member of the World Alliance of International Financial Centers (WAIFC) during the organization’s Annual General Meeting held in Frankfurt, Germany. This milestone affirms Nairobi’s rising stature as a leading financial hub and gateway to Africa’s 54 countries, home to over 1.3 billion…
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Safaricom has announced that its overdraft service, Fuliza, has experienced a temporary disruption, leaving many customers unable to complete repayment transactions. In an update on Tuesday, September 30, the company confirmed that it is aware of the issue and is working to restore normal services as soon as possible. “There is an issue with the…
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An illustration photo of a mobile phone user. | FILE/REUTERS The Central Bank of Kenya (CBK) wants to slash and cap the transaction fees telcos charge for sending money among users of mobile money services like M-Pesa and Airtel Money. In its latest National Financial Inclusion Strategy, the lender wants the average cost per transaction…
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The Intergovernmental Budget and Economic Council (IBEC) has concluded its 28th Ordinary Session at Deputy President Kithure Kindiki’s official residence in Karen, unveiling a series of measures to deepen intergovernmental cooperation, enhance fiscal accountability, and improve public service delivery. The meeting, chaired by the second-in-command, reaffirmed the government’s commitment to devolution as the foundation for…
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An illustration photo of a mobile phone user. | FILE/REUTERS The Central Bank of Kenya (CBK) wants to slash and cap the transaction fees telcos charge for sending money among users of mobile money services like M-Pesa and Airtel Money. In its latest National Financial Inclusion Strategy, the lender wants the average cost per transaction…
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File image of suspended KNH CEO Evanson Kamuri. PHOTO | COURTESY The Anti-Corruption Court has frozen assets worth more than Ksh.229 million belonging to suspended Kenyatta National Hospital (KNH) CEO Evanson Njoroge Kamuri, pending a full hearing on whether the property amounts to unexplained wealth. Lady Justice Lucy Njuguna, sitting on August 29, 2025, granted…
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A new report has ranked Nairobi among the cities with the highest number of dollar millionaires in Africa. The Kenyan capital has a total of 5,400 High-Net-Worth Individuals (HNWIs) whose wealth is over $1 million (Sh120 million), according to the 2022 Henley Global Citizens Report for the third quarter. Nairobi is also home to 240…