Category: Business
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An International Monetary Fund (IMF) staff team will arrive in Nairobi on September 25 for a two-week mission to begin discussions with Kenyan authorities on a potential new IMF-supported program. The visit comes at a critical time for Kenya, which earlier this year missed the final review of its previous IMF program, delaying access to…
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Tullow Oil has completed the sale of its entire Kenyan business to Auron Energy E&P Limited, an affiliate of Gulf Energy Ltd, sealing its exit from the country after 14 years. Ian Perks, Tullow’s new chief executive, described the transaction as “a significant milestone,” adding: “On behalf of everyone at Tullow, I extend our best…
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Kenya’s Treasury bills auction on September 29 delivered a key milestone as the 182-day paper averaged 7.9851%, slipping under 8% for the first time since December 27, 2021. Several factors explain the sustained fall in T-bill yields over the past 12 months: Investor behavior has clearly shifted. Banks and funds are locking in nearly 10%…
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The Central Bank of Kenya (CBK) has announced the reopening of two fixed-coupon Treasury bonds in October, FXD1/2018/015 (12.650%, due May 2033) and FXD1/2021/020 (13.444%, due July 2041), seeking KSh 50 billion for budgetary support. In the first quarter of FY25/26, the CBK has already tapped markets aggressively: By end-September, CBK had already raised well…
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File image of KRA Commissioner General Humphrey Wattanga KRA has announced the rollout of a new online system aimed at making rental income tax management simpler and more efficient for landlords across the country. The Kenya Revenue Authority (KRA) has announced the rollout of a new online system aimed at making rental income tax management…
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File image of a Tullow Oil staff Tullow Oil has officially exited the Kenyan market after completing the sale of its entire working interest in the country to Aquron Energy E&P Limited. Tullow Oil has officially exited the Kenyan market after completing the sale of its entire working interest in the country to Aquron Energy…
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File image of NCPB silos The National Cereals and Produce Board (NCPB) has announced new maize purchase prices ahead of the harvesting season. The National Cereals and Produce Board (NCPB) has announced new maize purchase prices ahead of the harvesting season. In an internal memorandum dated Tuesday, September 23, NCPB set the purchase price for…
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Ongoing construction of Ithookwe Stadium in Kitui town, Kitui County, which will host this year’s 2025 Mashujaa Day. The reality of energy poverty facing Kenya, like many other African countries, is evident, and the government has acknowledged this by mobilizing citizens and investors to address the situation. By Victor Bwire The reality of energy poverty…
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File image of Kenya Power technicians The company said the outages are meant to allow for planned maintenance works. Kenya Power has announced scheduled power interruptions across several parts of the country on Sunday, September 28. In a statement on Saturday, September 27, the company said the outages are meant to allow for planned maintenance…
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Pay-TV provider DStv has experienced one of its biggest subscriber declines in Kenya, with the provider losing more than 80% of its customers within a year. Data from the Communications Authority of Kenya (CA) shows that the satellite television service user base dropped from 1.19 million active users in June 2024 to only 188,824 by…