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…
The Kenya Revenue Authority (KRA) collected Ksh307.634 billion in December, exceeding its target of Ksh284.969 billion. This represents a performance rate of 108.0 percent and a growth of 29.3 percent compared to the same month last year. Exchequer revenue amounted…
The Central Bank of Kenya (CBK) has launched a tender for companies to purchase and smelt 281 tonnes of old and damaged coins no longer fit for circulation. The tender forms part of the bank’s routine currency management and asset…
The National Treasury has set a Sh2.9 trillion revenue collection target for the Kenya Revenue Authority this financial year. The target ranks among the highest ever assigned to the tax agency in Kenya’s fiscal history. Treasury officials say the target…