Category: Economy&Finance
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The Ministry of Roads has announced plans to raise Sh175 billion through the recently increased Fuel Levy, with the money set to clear pending bills and accrued interest owed to contractors by the end of December 2024. Appearing before the National Assembly Committee on Implementation in Eldoret, Roads Principal Secretary Joseph Mbugua said the government…
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The Kenya Revenue Authority (KRA) appointed new leadership to strengthen institutional capacity and enhance service delivery. KRA announced Thursday the appointment of Nancy Ng’etich as the Commissioner for Shared Services Department. Rispah Simiyu, who served as Commissioner for Domestic Taxes, was seconded to the Ministry of National Treasury and Economic Planning. KRA noted that Ngetich took up…
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Ministry of Investments, Trade and Industry will work with Konza to package and promote its opportunities. This will be made possible through KenInvest. MITI Cabinet Secretary Lee Kinyanjui revealed that the opportunities will include promoting same at investment and trade forums, and I. International missions. “As MITI, we will work closely with Konza through KenInvest…
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For more than a decade, James Mwangi, a small-scale entrepreneur from Nairobi, could not understand why every venture he started collapsed within months. From agribusiness to transport and even retail shops, nothing ever worked. Each failure left him more frustrated and deeper in debt. Doctors and financial experts gave him advice. Friends encouraged him to…
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The Government of Kenya, through the Kenya Roads Board (KRB), has launched the Roads Levy Securitization Program to accelerate investment in road infrastructure and ensure timely payment of contractors. This innovative financing framework securitizes a portion of the Road Maintenance Levy Fund to raise USD 1.35 billion (Ksh175 billion) for critical road development. Funds raised…
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I love NewYork sign When Nairobi Governor Johnson Sakaja rolled out ‘Let’s Make Nairobi Work’ he was responding to a familiar problem: a capital whose image and day-to-day functioning have been dented by hawking, matatu disorder, erratic garbage collection and visible breakdowns in public services. Nairobi is far from unique, cities and countries around the…
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President William Ruto speaking with Treasury CS John Mbadi during a past function Kenya is seeking to implement its first-ever debt-for-food security swap, a US$1 billion (Sh130 billion) arrangement with the World Food Programme (WFP) scheduled for March 2026. The deal could ease pressure on the country’s ballooning debt while channeling much-needed resources into tackling…
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Safaricom launches “Ofa Ya Boda Boda” and “Bundle Ya Deree” products Safaricom has launched Ofa Ya Boda Boda and Bundle Ya Deree, two new propositions designed to empower ride-hailing drivers and boda boda riders with affordable connectivity, fuel discounts, insurance, and financial wellness support. The tailored solutions combine affordable voice and data bundles with free…
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Entrepreneurship and investing are often spoken of in the same breath, as if they are interchangeable paths to financial freedom. But they’re not the same game, and treating them as such has left many people confused, stuck, and disappointed. Entrepreneurship is fundamentally a strategy for using your time to create wealth. You start with very…
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Kenya’s capital markets remain one of the most important pillars of its financial system, but the structure of the Nairobi Securities Exchange (NSE) today reveals an uncomfortable truth: the market is overwhelmingly dependent on one company, Safaricom. At the top of the NSE leaderboard sits Safaricom, with a market capitalization of Sh1.2 trillion as of…