Category: Economy&Finance
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Equity Group Holdings Plc has defied a turbulent economic climate to post its strongest quarterly profit in four years, underscoring the bank’s operational excellence, prudent cost management, and diversified income strategy. For the second quarter alone, the Group recorded a Profit Before Tax (PBT) of KES 8.1 billion, contributing to a robust half-year performance that…
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Each year, the Kenya Revenue Authority (KRA) is assessed against a singular yardstick: did it meet its collection target? This focus on revenue performance, while important, often oversimplifies the web of underlying factors that shape outcomes. With the KRA having closed the 2024/2025 fiscal year with a revenue collection of Ksh. 2.571 trillion against a…
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Kenya’s leather industry is poised for a major revival following the government’s move to activate operations at the long-stalled Kenanie Leather Industrial Park in Machakos County. After more than a decade of delays, a new lease agreement has finally cleared the way for the facility to begin full-scale operations – unlocking a wave of opportunities…
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The Lamu Port has cemented its role in the maritime trade within the region by welcoming the MV Nagoya Express, the largest vessel ever to dock at the waters of East Africa. The 335-metre-long ship, owned by German shipping giant Hapag-Lloyd, is the biggest ever in Kenya’s maritime history. Its arrival is a significant milestone…
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The government has urged Parliament to approve a fresh proposal that seeks to introduce a national tolling policy to fund road development through a “user pay charges” strategy. The authorities argue that the move is needed to address budget deficits and offer a long-term means of funding the infrastructure. Transport Cabinet Secretary Davis Chirchir told…
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Kenya Railways Corporation is still reeling from the effects of Sh50 billion loss, the highest among state corporations even as oversight authorities poke holes into the mystery surrounding daily collections made from Commuter Rail train services. The Corporation is coming under tough scrutiny ahead of the multi-billion Railway City project that will be funded by…
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It has been three months since some residents moved to Affordable houses in Mukuru slums, Nairobi. During the launch by President Ruto, several home owners were ushered into the new life from the nearby slums marking a new chapter in their lives. However, some argue that it is not all rose in the new homes…
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The Kenya National Chamber of Commerce & Industry–Nairobi Chapter (KNCC&I) and the Institute of Packaging Professionals Kenya (IOPPK) have partnered with UAE-based MXM Dubai Events to host the 9th edition of the AgroFood-PlastPack Exhibition from August 21–23 at the Sarit Expo Centre, Nairobi. The annual event is a hub for global and regional industry leaders…
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Equity Group CEO Dr James Mwangi. Equity Group has reported a 16.9pc increase in net profit for the half year period to end June this year supported by strong earnings and lower interest expenses. The giant lender recorded profit after tax of Ksh 34.6 billion in six months of this year compared tp Ksh 29.6…
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Kenya and the US State of California are deepening cooperation in innovation, sustainability, and shared prosperity, with a strong focus on climate action, clean energy, and advanced technology. Speaking in Nairobi while hosting a high-level delegation from California, President William Ruto highlighted the unique opportunities created by California’s leadership in technology and climate innovation and…