Nigerian billionaire Aliko Dangote announced electricity generation plans at the Lamu facility on Friday. The refinery will produce approximately 1,000 megawatts of power for Kenyan and regional markets. Dangote stated that 500 megawatts would be supplied directly to the Kenyan…
he Kenya Revenue Authority has set October 31, 2026, as the renewal deadline firmly. Several customs-related business licences expire on December 31, 2026, requiring immediate application action. Bonded warehouses, Manufacture Under Bond facilities, and transit godowns must renew their licences…
Taxpayers affected by September iTax disruptions will have penalties and interest arising from the downtime waived. The Kenya Revenue Authority announced the relief following difficulties experienced while filing returns and making payments. The waiver will only apply where penalties or…
A high-level technical committee has been established by the Ministry of Mining and Blue Economy. The move has been announced following consultations between government officials and executives from Tata Chemicals Magadi Limited. The committee has been assigned responsibility for reviewing…
Taxpayers seeking to dispute Kenya Revenue Authority tax assessments now face stricter evidentiary requirements following a new High Court judgment. The court ruled that taxpayers must provide clear and specific evidence showing why KRA’s assessment is incorrect instead of leaving…
The National Treasury has officially launched the preparation of the Finance Bill 2027, giving Kenya one of its earliest starts to a national budget cycle in recent years. In a public notice dated July 27, Treasury invited Kenyans, businesses and…
The Government of Kenya is seeking about $450 million (approximately KSh58 billion) in emergency financing to help cushion the economy from the effects of the Iran war and possible weather-related shocks. According to a Bloomberg report, Kenya has approached the…
The East African Community (EAC) has taken another major step toward introducing a single regional currency. Central bank governors say the bloc remains on track to launch the currency by 2031 despite several economic hurdles. The governors confirmed the progress…
Global oil prices dropped by more than 4 percent on Monday after the United States and Iran paused military strikes over the weekend. The development raised hopes that both sides could pursue diplomacy instead of further conflict. Brent crude futures…
The Ministry of Interior has welcomed the return of railway services at the historic Ol Kalou Railway Station after decades of inactivity. The government says the restored line will improve transport, strengthen trade, and support economic growth in the region.…
The Kenya Revenue Authority has indicated that taxpayers should not expect another tax amnesty after the current programme ends. The agency says repeated waivers have raised concerns among Kenyans who consistently meet their tax obligations. KRA Chief Manager for Policy…
The International Monetary Fund (IMF) has cautioned Kenya over the economic impact of rising global oil prices. The lender says the trend could push up fuel and food prices in the coming months. The warning appears in the IMF’s July…
Africa’s richest businessman, Aliko Dangote, has confirmed that his planned East African oil refinery will be established in Kenya. The announcement ends months of speculation that had linked the multi-billion project to both Kenya and Tanzania. Dangote Industries said it…
The National Treasury has proposed sweeping changes to the Public-Private Partnerships (PPP) framework through a new amendment Bill. The reforms aim to simplify project implementation and attract more private investment into public infrastructure. The proposals appear in the Public-Private Partnerships…
The Central Bank of Kenya (CBK) can now include gold and other precious metals in the country’s official reserves after new legal changes took effect. The changes follow President William Ruto’s approval of the Central Bank of Kenya (Amendment) Act,…
The Ethics and Anti-Corruption Commission (EACC) has announced plans to recover KSh1.5 billion linked to the Ruaraka land compensation case. The action follows a Court of Appeal decision that upheld a ruling declaring the payment unlawful. The commission said the…
KRA Announces 6-Month Tax Amnesty for Kenyans with Tax Arrears. Treasury Cabinet Secretary John Mbadi has announced a six-month tax amnesty that will allow eligible taxpayers to clear outstanding tax arrears without paying accumulated penalties and interest. Speaking during a…
Absa Bank Kenya has announced the resignation of its Managing Director and Chief Executive Officer, Abdi Mohamed, ending his three-year tenure at the lender. The resignation takes effect on June 30, 2026, as the bank begins the search for a…
Kenyan motorists could soon get relief at fuel stations after global crude oil prices recorded a sharp decline. The drop followed easing tensions in the Middle East. The latest CBK bulletin shows Murban crude oil prices fell to Ksh9,642 per…
Kenya’s foreign exchange reserves fell by Ksh11.77 billion during the past week. New data from the Central Bank of Kenya shows reserves dropped to USD13.149 billion. The reserves stood at USD13.240 billion a week earlier. Despite the decline, the stock…
Kenyan traders and exporters could increasingly adopt the Chinese yuan for international transactions as trade ties between Kenya and China continue expanding. The shift may reduce dependence on the United States dollar in some business deals. Economists say increased yuan…
Fuel consumers in Kenya could enjoy lower pump prices in the coming months if calm returns to the Middle East. Energy Cabinet Secretary Opiyo Wandayi said the benefits may begin reaching motorists around August. The CS explained that developments in…
Global Oil Prices Fall as Kenya Eyes New Fuel Price Review as global crude eases ahead of EPRA pricing decision in Kenya. Global oil prices have declined after easing tensions in the Middle East. The drop could influence Kenya’s upcoming…
Kenya could face serious economic pressure from the ongoing Iran conflict. A new global peace report highlights debt and food security risks. The Global Peace Index 2026 identifies Kenya among vulnerable economies. The report links Middle East tensions to potential…
Kenyans Earning Below Ksh 30000 Will Not PAYE Tax President William Ruto has announced plans to remove PAYE tax for low-income workers earning up to Ksh30,000 monthly. The proposal aims to reduce pressure on salaried Kenyans struggling with the high…
Kenya’s Finance Bill 2026 was tabled in the National Assembly on May 5, 2026. Most of its provisions take effect on July 1, 2026. These changes will directly affect your finances, so it is crucial to understand them. The government…
John Mbadi has submitted the Finance Bill 2026 to Parliament, introducing broad tax changes that target mobile phones, second-hand clothing, and betting activities across Kenya. The proposals are now awaiting parliamentary debate before any amendments or approval. The bill introduces…
International Monetary Fund has downgraded growth forecasts for Sub-Saharan Africa, warning of rising pressure on economies like Kenya. The update follows recent fuel price increases that signal mounting strain on households and businesses. The IMF said regional growth reached 4.5…
The Kenyan shilling has ranked among the most stable currencies globally over the past year. The currency has maintained steady performance against the United States dollar during that period. Data published by Bloomberg shows the Kenyan shilling recorded very low…
While currencies across Africa and the developing world have shifted, with either depreciating in value or appreciating against the dollar, Kenya’s shilling has barely moved. For 18 straight months, the shilling has held firm between 128 and 130 against the…
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