Category Economy

The World Bank says Kenyans pay much more for electricity than people in other countries. It blames expensive power deals and poor management in the energy sector. In its November 2026 Kenya Economic Update, the bank said Kenyan businesses pay…

The Kenya Revenue Authority (KRA) will introduce a new electronic cargo tracking arrangement starting October 26, 2026. The change will affect dry cargo and motor vehicles monitored under customs control. In a public notice issued on Friday, October 16, KRA…

The Kenyan shilling could weaken in the coming week as oil marketers and importers increase their demand for US dollars. Currency traders expect these payments to put pressure on the local unit, although foreign exchange inflows from charities could cushion…

President William Ruto has signed two tax laws introducing changes to fuel taxation, construction materials and revenue administration. The legislation maintains reduced VAT on petroleum products while adjusting taxes on selected building materials. Ruto assented to the Value-Added Tax Amendment…

Kenyans could continue paying reduced taxes on petroleum products after Parliament approved a proposal to retain the lower Value Added Tax (VAT) rate for another three months. The move comes amid rising fuel prices that have increased pressure on households,…

Global oil prices are expected to decline in 2027, although they could remain significantly higher than pre-war levels following a sharp rise in energy costs. The International Monetary Fund (IMF) projects an average barrel price of $87.39 next year, down…

Kenya spent Ksh490.5 billion on public debt obligations during the first quarter of the 2026/2027 financial year, taking up a large share of the money collected through taxes. The payments represented 77.6 per cent of the Ksh631.8 billion in tax…

The government has approved KSh45.4 billion in fresh financing for Kenya Airways as efforts to stabilise the national carrier and restore its financial health continue. The money is expected to cover urgent financial obligations, including aircraft maintenance and the return…

Kenya is set to redirect about KSh52 billion from existing World Bank-funded projects to tackle urgent climate and health emergencies. The funding, equivalent to roughly $400 million, will be channelled through the Kenya Contingent Emergency Response Project as the country…

Kenya’s National Infrastructure Fund (NIF) has started deploying part of its KSh340 billion capital into government bonds as it prepares to finance major infrastructure projects.NIF Chief Executive James Mworia said the bond investments are expected to generate about KSh42 billion…

The cost of borrowing in Kenya could come under fresh pressure this week as the Central Bank prepares to make a major monetary policy decision. The Central Bank of Kenya (CBK) Monetary Policy Committee is scheduled to meet on Wednesday,…

Kenya faces a ballooning Ksh1.288 trillion budget deficit in the 2026/2027 financial year. Rising domestic debt interest payments and lower tax revenues are straining government finances and forcing urgent external borrowing. The government has pivoted to World Bank and African…

Billionaire businessman Aliko Dangote disclosed the refinery’s origin story completely. President William Ruto became involved during initial discussions about the investment. Conversations involved Ruto, Dangote, and African Finance Corporation officials discussing plans. The discussions initially focused on fertiliser supplies and…

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…