KRA Commissioner General Humphrey Wattanga has invited public comments on the draft Income Tax (Significant Economic Presence Tax) Regulations, 2025. [File, Standard] The taxman is poised for a sweeping crackdown on the fast growing digital economy under new regulations that establish a broad-based tax on non-resident companies, directly targeting the income of global giants like Netflix, Airbnb, and OpenAI like Google’s ChatGPT from Kenyan users. The Income Tax (Significant Economic Presence Tax) Regulations, 2025, published by the taxman on Monday, formally replace the 2020 Digital Service Tax (DST) with the more comprehensive levy. Unlock the Full Story — Join Thousands of Informed Kenyans Today…
Author: By Brian Ngugi
KRA Commissioner General Humphrey Wattanga has invited public comments on the draft Income Tax (Significant Economic Presence Tax) Regulations, 2025. [File, Standard] The taxman is poised for a sweeping crackdown on the fast growing digital economy under new regulations that establish a broad-based tax on non-resident companies, directly targeting the income of global giants like Netflix, Airbnb, and OpenAI like Google’s ChatGPT from Kenyan users. The Income Tax (Significant Economic Presence Tax) Regulations, 2025, published by the taxman on Monday, formally replace the 2020 Digital Service Tax (DST) with the more comprehensive levy. Unlock the Full Story — Join Thousands of Informed Kenyans Today…
PASER Hub, inaugurated at Tom Mboya University, aims to create a new model for data-driven research to shape policy. [File, Standard] A Princeton University-linked initiative has launched a major research hub in western Kenya designed to directly address the critical skills gap hindering economic growth across Kenya and Africa by connecting local challenges with global academic expertise. The Princeton–African School of Economics Research (PASER) Hub, inaugurated at Tom Mboya University (TMU), aims to create a new model for development where municipalities and devolved governments use data-driven research to shape policy, train a new generation of professionals, and attract investment. The…
Professor Leonard Wantchekon of Princeton University’s School of Public and International Affairs speaks at the inauguration of a new innovation hub in Homa Bay. [File, Standard] A Princeton University-linked initiative has launched a major research hub in western Kenya designed to directly address the critical skills gap hindering economic growth across Kenya and Africa by connecting local challenges with global academic expertise. The Princeton–African School of Economics Research (PASER) Hub, inaugurated at Tom Mboya University (TMU), aims to create a new model for development where municipalities and devolved governments use data-driven research to shape policy, train a new generation of…
A nurse checks a patient’s blood pressure during the free medical camp at AAR Hospital in Nairobi on September 6, 2025. [Courtesy] High consultations at a recent free medical camp in Nairobi suggest a significant reproductive health burden, highlighting a strong public demand for accessible and affordable care. Nearly two-thirds of the women who attended the camp at AAR Hospital on September 6 consulted gynecologists, according to data released Tuesday, underscoring that reproductive health services are a top concern for women in the country. A total of 116 of the 180 attendees sought out gynecological care, while breast surgery and…
From left: PZ Cussons EA Managing Director Sekar Ramamoorthy (centre), Africa MD Oghale Elueni and Head of Marketing Hafsa Arthur (left) showcase the new Venus skincare products in Nairobi, on November 22, 2024. [File , Standard] British consumer goods company PZ Cussons, the maker of Imperial Leather soap and Carex hand wash, has launched a strategic review of its operations in Kenya, raising concerns over the future of local jobs and its longstanding presence in the East African market. Uncover the stories others won’t tell. Subscribe now for exclusive access Unlock the Truth Now 》 Unlimited access to all premium content Uninterrupted ad-free…
Nyansiongo Tea Factory Director Monica Orwochi picks tea in her Ribwago farm, Borabu, Nyamira County, on May 6, 2024. [File, Standard] More than 250 Kenyan tea farmers and workers are calling on the UK government to introduce new mandatory Human Rights and Environmental Due Diligence (HREDD) legislation. Uncover the stories others won’t tell. Subscribe now for exclusive access Unlock the Truth Now 》 Unlimited access to all premium content Uninterrupted ad-free browsing experience Mobile-optimized reading experience Weekly Newsletters MPesa, Airtel Money and Cards accepted Login Already a subscriber? Log in Follow The Standard channel on WhatsApp Nyansiongo Tea Factory Director Monica…
The John Mbadi-led National Treasury’s strategy to navigate the country’s severe debt crisis is facing a critical examination from international markets and economists. Uncover the stories others won’t tell. Subscribe now for exclusive access Unlock the Truth Now 》 Unlimited access to all premium content Uninterrupted ad-free browsing experience Mobile-optimized reading experience Weekly Newsletters MPesa, Airtel Money and Cards accepted Login Already a subscriber? Log in Follow The Standard channel on WhatsApp Follow The Standard channel on WhatsApp Published Date: 2025-09-21 00:00:00 Author: By Brian Ngugi Source: The Standard
Treasury CS John Mbadi before the Senate Devolution Committee on county governments’ commercial bank accounts at Bunge Towers, Nairobi. July 17, 2025 [Elvis Ogina, Standard] Global credit ratings agency Fitch Ratings has cast doubt on Treasury Cabinet Secretary John Mbadi’s strategy to navigate Kenya’s severe debt crunch, questioning whether the country’s ambitious liability management operations can be successfully implemented. The agency’s assessment, reviewed by The Standard, joins a growing chorus of concern over the country’s fiscal health, putting Treasury mandarins in the spotlight. Unlock the Full Story — Join Thousands of Informed Kenyans Today Unlock the Truth Now 》 Unlimited…
Vipingo Special Economic Zone is a 2,000-acre industrial hub designed to lower costs, streamline operations, and maximize profitability. [Courtesy] KCB Group and the African Export-Import Bank (Afreximbank) have signed an $800 million (Sh107 billion) joint funding agreement to operationalize the Vipingo Special Economic Zone (SEZ), a mega project aimed at positioning the country as a manufacturing and export hub. Under a memorandum of understanding announced on Thursday, the pan-African lender will provide an initial $500 million (Sh67 billion) while Kenya’s largest bank by assets will contribute $300 million (Sh40.2 billion) in financial and trade facilitation support to investors setting up operations in…
Treasury CS John Mbadi before the Senate Devolution Committee on county governments’ commercial bank accounts at Bunge Towers, Nairobi. July 17, 2025 [Elvis Ogina, Standard] Global credit ratings agency Fitch Ratings has cast doubt on Treasury Cabinet Secretary John Mbadi’s strategy to navigate Kenya’s severe debt crunch, questioning whether the country’s ambitious liability management operations can be successfully implemented. The agency’s assessment, reviewed by The Standard, joins a growing chorus of concern over the country’s fiscal health, putting Treasury mandarins in the spotlight. Unlock the Full Story — Join Thousands of Informed Kenyans Today Unlock the Truth Now 》 Unlimited…
US President Donald Trump during an address from the Oval Office. [AFP] The US Trade Representative (USTR) is soliciting comments from American businesses on trade barriers they face in Kenya, according to a public notice in the US Federal Register, even as the future of a key trade pact for Nairobi remains in doubt. The move comes as officials in Washington and Nairobi remain tight-lipped on the renewal of the African Growth and Opportunity Act (AGOA), which provided duty-free access for most Kenyan exports to the United States and lapses this month. Uncover the stories others won’t tell. Subscribe now…
Standard Chartered Kenya Board of Directors Chairperson Kellen Kariuki and Managing Director and CEO Kenya & Africa Kariuki Ngari during the launch of the bank’s Sustainability Progress Report in Nairobi.[Wilberforce Okwiri,Standard] Tier one lender, Standard Chartered Bank Kenya Ltd, has projected at least a 25 per cent fall on its 2025 full-year net profit, attributing the decline to a significant financial provision linked to a pension dispute that is estimated to require a Sh7 billion payout. The Nairobi-based subsidiary of UK’s multinational Standard Chartered Plc, specified in a regulatory filing that the net income for the year ending December 31, will decline due to…
Moody’s has sounded an alarm that the Kenyan government is currently battling sharply high borrowing costs. [iStockphoto] Moody’s has sounded an alarm that the Kenyan government is currently battling sharply high borrowing costs, which are worsening fiscal strains and limiting credit availability for private businesses. This development confronts President William Ruto’s government with a new challenge, as it struggles to fulfil promises to boost employment and incomes, with the economy still fragile and a general election now two years away. Uncover the stories others won’t tell. Subscribe now for exclusive access Unlock the Truth Now 》 Unlimited access to all…
Old Mutual building in Nairobi. Old Mutual Securities carries a deep legacy in Kenya’s capital markets. [File, Standard] Kenyan investment firm, Kweli Capital, has acquired a majority stake in brokerage Old Mutual Securities Ltd (OMS), the companies said in a statement, marking the technology-driven company’s strategic expansion into regulated financial services. The acquisition will see Kweli Capital take over the Nairobi-based brokerage from the Old Mutual Group. The move positions the firm at a place where it will build a full-service investment bank targeting East Africa’s growing capital markets. “Kweli Capital Limited, an East African technology-driven investment company, has acquired…
Kenyan money. [Courtesy] A critical financial lifeline for millions of Kenyans is drying up, with new government data confirming a sustained decline in overseas remittances, fanning fears of a deepening household crisis and mounting pressure on the country’s foreign exchange reserves. Fresh figures from the Central Bank of Kenya (CBK) show inflows fell again in August, with the year-on-year total dipping by 0.2 per cent; from USD427.2 million (Sh55.2 billion) in August 2024 to USD426.1 million (Sh55 billion) in August 2025. Unlock the Full Story — Join Thousands of Informed Kenyans Today Subscribe Today & Save! Unlock the Truth Now…
Kenyan money. [Courtesy] A critical financial lifeline for millions of Kenyans is drying up, with new government data confirming a sustained decline in overseas remittances, fanning fears of a deepening household crisis and mounting pressure on the country’s foreign exchange reserves. Fresh figures from the Central Bank of Kenya (CBK) show inflows fell again in August, with the year-on-year total dipping by 0.2 per cent; from USD427.2 million (Sh55.2 billion) in August 2024 to USD426.1 million (Sh55 billion) in August 2025. Unlock the Full Story — Join Thousands of Informed Kenyans Today Subscribe Today & Save! Unlock the Truth Now…
East African Breweries Ltd (EABL), the region’s leading alcoholic beverage company, is grappling with an unprecedented rise in counterfeit and illicit alcohol. Unlock the Full Story — Join Thousands of Informed Kenyans Today Subscribe Today & Save! Unlock the Truth Now 》 Unlimited access to all premium content Uninterrupted ad-free browsing experience Mobile-optimized reading experience Weekly Newsletters MPesa, Airtel Money and Cards accepted Access this article for Ksh5 only Already a subscriber? Log in Follow The Standard channel on WhatsApp Follow The Standard channel on WhatsApp Published Date: 2025-09-14 15:02:02 Author: By Brian Ngugi Source: The Standard
From left: KCB Group CEO Paul Russo, EABL Group Managing Director and CEO Jane Karuku, Safaricom CEO Peter Ndegwa and Equity Group CEO James Mwangi. [File, Standard] Blue-chip companies are sparing no expense to retain and attract top executive talent, with lavish compensation packages for CEOs becoming the norm. This trend is highlighted in newly released annual reports, which show significant pay hikes and perks for leaders of the nation’s largest firms, including East African Breweries Ltd (EABL), major banks, and telcos. Uncover the stories others won’t tell. Subscribe now for exclusive access Subscribe Today & Save! Unlock the Truth…
Central Bank of Kenya (CBK) Pension Towers located along Harambee Avenue in Nairobi CBD on March 07, 2024. [File, Standard] A review by The Standard of the latest Central Bank data shows Citibank NA Kenya, part of US-based Citigroup Inc, offered loans at an average rate of 10.59 per cent in July—the lowest among 38 commercial banks in the country. It was closely followed by other foreign-owned lenders, Stanbic Bank Kenya, a unit of South Africa’s Standard Bank Group, at 12.30 per cent; Standard Chartered Bank Kenya at 12.81 per cent; and Ecobank Kenya at 12.87 per cent. The data reveals a pronounced competitive schism, with international operators leveraging parent-company balance sheets to price loans aggressively, while major home-grown banks, including listed giants Equity Group Holdings,…
Central Bank Of Kenya on Haile Selassie avenue in Nairobi.[Wilberforce Okwiri,Standard] Kenyan units of global banking giants are offering the country’s most competitive lending rates, using their expansive capital bases to undercut domestic rivals and capture prime borrowers in the country. A review by The Standard of the latest central bank data shows Citibank NA Kenya, part of US-based Citigroup Inc, offered loans at an average rate of 12.59 per cent in July—the lowest among 37 commercial banks in the country. Uncover the stories others won’t tell. Subscribe now for exclusive access Subscribe Today & Save! Unlock the Truth Now 》 Unlimited access to all premium…
Outgoing Afreximbank President Benedict Oramah after he delivered his final plea for African financiers to close the continent’s $100 billion trade finance gap. [Courtesy] In a stirring farewell address at the close of the Intra-African Trade Fair (IATF2025) in Algiers, outgoing Afreximbank President Benedict Oramah issued an emotional appeal to African financial institutions and trade insurers to urgently support continental trade, declaring the lack of capital and risk mitigation the biggest barriers to integration. Speaking as the record-breaking trade fair concluded with $48.3 billion in deals signed, Oramah expressed particular frustration at the absence of African development banks, commercial lenders,…
Joseph Kibwott, Managing Director of Paratus Kenya and Martin Cox, Chief Commercial Officer of Paratus Group, at the official launch of Paratus Kenya in Nairobi. [Courtesy] African telecommunications firm Paratus Group has completed a major expansion into East Africa, positioning itself as a competitive alternative to regional giants like Safaricom by leveraging high-speed fibre infrastructure and satellite internet services. The Pan-African network services provider, which already operates in 15 countries across the continent, announced on Wednesday that it is now fully operational in Kenya, Rwanda, Uganda, and Tanzania as a licensed internet service provider (ISP). In Kenya and Rwanda, the…
Kenya’s microfinance banks (MFBs), once hailed as critical vehicles for financial inclusion, are now the weakest link in the country’s banking sector, with six consecutive years of losses. Unlock the Full Story — Join Thousands of Informed Kenyans Today Subscribe Today & Save! Unlock the Truth Now 》 Unlimited access to all premium content Uninterrupted ad-free browsing experience Mobile-optimized reading experience Weekly Newsletters MPesa, Airtel Money and Cards accepted Already a subscriber? Log in to pay 5 for this article Follow The Standard channel on WhatsApp Follow The Standard channel on WhatsApp Published Date: 2025-09-10 00:00:00 Author: By Brian Ngugi…
CBK report shows 11 banks are operating with core capital below the new Sh3 billion threshold as of June 2025. [File, Standard] Up to a dozen Kenyan banks face mergers, acquisitions or collapse unless they raise a collective Sh19.8 billion in capital by year-end, a new report by the Central Bank of Kenya (CBK) has indicated. The warning, outlined in the CBK’s latest Financial Sector Stability Report, marks the most significant threat to the country’s banking industry since the failures of Imperial Bank and Chase Bank in 2015-2016. Unlock the Full Story — Join Thousands of Informed Kenyans Today Subscribe…
President William Ruto and Migori Governor Ochilo Ayacko interact with traders Florence Onyango (right) and Angela Ogolla during the inspection of the Sh47 Million Oria Fresh Produce Market in Uriri in the County on May 05, 2025. [PCS, Standard] African businesses including Kenya are losing hundreds of millions of dollars each year due to inefficient transit systems, a senior Afreximbank official said on Monday, urging small and medium enterprises (SMEs) to adopt a continental bond guarantee scheme to reduce trade risks and delays. Dr Gainmore Zanamwe, Director of Trade Facilitation and Promotion at the African Export-Import Bank (Afreximbank), said the African Continental…
Afreximbank President Professor Benedict Oramah and Barbados Prime Minister Mia Amor Mottley toured the pavilions of the ongoing Intra-African Trade Fair (IATF2025), in Algiers highlighting strengthened trade and investment ties between Africa and the Caribbean. [Courtesy] Gas-rich Algeria is intensifying efforts to boost trade with Kenya and other African nations as it positions itself to capitalise on the African Continental Free Trade Area (AfCFTA). During the opening of the fourth edition of the Intra-African Trade Fair (IATF) 2025, in Algiers last week, President Abdelmadjid Tebboune outlined measures aimed at enhancing Algeria’s appeal to investors and trading partners, including regulatory…
Afreximbank President Benedict Oramah (Centre) during the 5th African Sub-Sovereign Governments Network (AfSNET) conference. [Courtesy] The African Export-Import Bank, known as Afreximbank, will provide $2 billion in financing to sub-national governments such as counties, states, provinces, and municipalities to help drive economic development and trade, its president said on Friday. The move is aimed at addressing regional inequality and boosting cross-border commerce under the African Continental Free Trade Area (AfCFTA), a landmark agreement to create a single market for goods and services across 54 African nations. Afreximbank President Benedict Oramah announced the funding at the 5th African Sub-Sovereign Governments Network…
A section of JKIA’s Terminal 1C in Nairobi. [Edward Kiplimo, Standard] President William Ruto’s Kenya Kwanza administration is charting a high-stakes course to secure $1.63 billion (Sh206 billion) from international development lenders to overhaul the Jomo Kenyatta International Airport (JKIA). The detailed confidential plan, according to a government briefing document seen by The Standard from the State Department for Aviation and Aerospace Development, outlines a pivot to bilateral and multilateral financiers after the collapse of a high-profile deal with India’s Adani Group. Uncover the stories others won’t tell. Subscribe now for exclusive access Subscribe Today & Save! Unlock the Truth Now 》…
Bungoma Governor Kenneth Lusaka and his Taita Taveta counterpart Andrew Mwadime join delegates at the 5th African Sub-Sovereign Governments Network (AfSNET) conference. [Brian Ngugi, Standard] Kenyan governors took centre stage at a major African investment forum on Saturday, making a direct pitch to international financiers for local mega-projects they say are crucial for unlocking economic growth and reducing the continent’s reliance on foreign aid. Bungoma Governor Kenneth Lusaka, who is also Vice-Chairman of the 14-county Lake Region Economic Bloc (LREB), told delegates at the 5th African Sub-Sovereign Governments Network (AfSNET) conference that strategic investment in regional infrastructure and industrialisation was…
ICT and the Digital Economy Cabinet Secretary William Kabogo takes oath of office during the swearing ceremony at State House, Nairobi. President William Ruto said that Cabinet Secretaries Mutahi Kagwe, Hon. William Kabogo Gitau and Lee Kinyanjui bring to the Cabinet the stamina and wealth of experience in public service that will accelerate service delivery to the people of Kenya.[FILE/Standard] The government has introduced a new tough set of competition rules that promise to reshape the country’s telecommunications landscape. They aim to break down long-entrenched market advantages and give consumers more choices and fairer prices, according to officials. The Kenya Information and Communications (Fair Competition and Equal Treatment) Regulations, 2025, which came into force this week,…
Outgoing African Export-Import Bank (Afreximbank) President Benedict Oramah. [File, Standard] Outgoing African Export-Import Bank (Afreximbank) President Benedict Oramah called for Africa to achieve full economic independence through increased trade and self-financing, as the fourth Intra-African Trade Fair (IATF) opened on Thursday in Algiers. Addressing African and Caribbean heads of state, business leaders, and delegates, Oramah positioned the trade fair as a cornerstone of what he termed a “peaceful revolution” aimed at ending the continent’s reliance on external financing and commodity exports. “Political independence without economic empowerment is nothing but glorified servitude,” Oramah said in a strongly worded speech. “We are…
Deputy President Kithure Kindiki delivered Kenya’s address at the 4th Intra-African Trade Fair (IATF 2025) in Algiers, outlining national strategies to boost regional commerce and investment. Kindiki represented President William Ruto at the forum. (Photo: Courtesy) Kenya has urged fellow African nations to aggressively pursue private sector funding for critical infrastructure, as traditional debt avenues dry up, highlighting a strategic pivot towards public-private partnerships (PPPs) to drive continental trade and economic resilience. Deputy President Kithure Kindiki, speaking this week at the Intra-African Trade Fair (IATF) in Algiers, said PPPs are essential to develop railways, roads, and digital networks needed to…
Deputy President Kithure Kindiki delivered Kenya’s address at the 4th Intra-African Trade Fair (IATF 2025) in Algiers, outlining national strategies to boost regional commerce and investment. Kindiki represented President William Ruto at the forum. (Photo: Courtesy) Kenya has urged fellow African nations to aggressively pursue private sector funding for critical infrastructure, as traditional debt avenues dry up, highlighting a strategic pivot towards public-private partnerships (PPPs) to drive continental trade and economic resilience. Deputy President Kithure Kindiki, speaking this week at the Intra-African Trade Fair (IATF) in Algiers, said PPPs are essential to develop railways, roads, and digital networks needed to…
Galana Foundation mentee works on Vision Board alongside Mentor at 2025 Galana Foundation Summit. [Courtesy] Kenyan fuel retailer Galana Energies said on Wednesday it would expand the work of its social foundation as it marks 25 years in operation, pledging to deepen its investment in education and community development programmes. The homegrown company said the commitment through its Galana Foundation would focus on scaling its scholarship programme, which has so far supported more than 80 students entering high school, and broadening its mentorship initiatives. Chief Executive Anthony Munyasya said the company’s anniversary was not just a business milestone but a…
National Treasury CS John Mbadi addresses the media on the e-GP system rollout, at the Treasury Building in Nairobi, on August 28, 2025. [Boniface Okendo, Standard] The national government’s debt to suppliers surged 39 per cent in the past year to a record Sh524.84 billion, piling pressure on small businesses. The development also contradicts the Kenya Kwanza administration’s pledge to settle arrears that are stifling economic growth. The ballooning pending bills, detailed in a new report by the Office of the Controller of Budget, highlight a critical failure in public financial management under President William Ruto’s administration, analysts said. Follow…
Published Date: 2025-09-03 00:00:00 Author: By Brian Ngugi Source: The Standard
Controller of Budget Margaret Nyakang’o before the National Assembly’s Committee on Public Debt & Privatization to deliberate on the Consolidated Funds Services for FY 2025/26 at Bunge Towers, Parliament, Nairobi. May 30th,2025. [Elvis Ogina, Standard] Kenya’s Controller of Budget Margaret Nyakang’o has issued a stark warning over the country’s rapidly growing public debt, which reached Sh11.73 trillion by the end of June 2025, raising concerns about fiscal sustainability and economic stability. In the latest National Government Budget Implementation Review Report for the 2024-25 financial year, Dr Nyakang’o noted that the government had significantly deviated from its own borrowing policy, with domestic borrowing outpacing external loans…
A section of a road in Nairobi closed for the construction of a drainage system. Kenya depends heavily on AfDB financing for essential infrastructure projects. [File, Standard] A confidential US Treasury report has demanded an urgent governance overhaul at the African Development Bank (AfDB). The new report reveals that 83 per cent of AfDB’s sanctioned cases involved fraud, with Kenya identified as both a top beneficiary of loans and a primary source of corruption complaints. /* Container styling */ .fade-out-overlay { position: absolute; top: -80px; left: 0; width: 100%; height: 60px; z-index: 1; background: linear-gradient(to bottom, rgba(255, 255, 255, 0),…
A section of a road in Nairobi closed for the construction of a drainage system. Kenya depends heavily on AfDB financing for essential infrastructure projects. [File, Standard] A confidential US Treasury report has demanded an urgent governance overhaul at the African Development Bank (AfDB). The new report reveals that 83 per cent of AfDB’s sanctioned cases involved fraud, with Kenya identified as both a top beneficiary of loans and a primary source of corruption complaints. Uncover the stories others won’t tell. Subscribe now for exclusive access Subscribe Today & Save! Unlock the Truth Now 》 Unlimited access to all premium…
Times Tower Building in Nairobi which hosts Kenya Revenue Offices (KRA).[Wilberforce Okwiri/Standard] The Kenya Revenue Authority (KRA) is targeting tens of thousands of digital taxi drivers in a new crackdown to plug a Sh47.3 billion revenue shortfall, a move that risks squeezing drivers’ margins in an already strained gig economy. The push, which mandates all ride-hailing drivers to issue e-TIMS-compliant invoices for every trip, represents one of the agency’s most aggressive efforts to formalise a historically hard-to-tax sector amid repeated collection failures. Unlock the Full Story — Join Thousands of Informed Kenyans Today Subscribe Today & Save! Unlock the Truth Now 》…
Zhang Zhizhong , Chargé d’Affaires at the Embassy of the People’s Republic of China to Kenya, (centre) together with some of the 52 Kenyan students set for studies in China on the fully funded scholarships by China. [Brian Ngugi, Standard] Kenya is tapping Chinese funding to educate a new cadre of public policy experts including economists, scientists and engineers, a bid to close a critical skills deficit and accelerate its transition into an industrialized, middle-income economy. The fully funded scholarship programme which has sent more than 2,000 Kenyans to elite Chinese universities since the 1980s, is now expanding under…
Times Tower Building in Nairobi which hosts Kenya Revenue Offices (KRA).[Wilberforce Okwiri/Standard] The Kenya Revenue Authority (KRA) is targeting tens of thousands of digital taxi drivers in a new crackdown to plug a Sh47.3 billion revenue shortfall, a move that risks squeezing drivers’ margins in an already strained gig economy. The push, which mandates all ride-hailing drivers to issue e-TIMS-compliant invoices for every trip, represents one of the agency’s most aggressive efforts to formalise a historically hard-to-tax sector amid repeated collection failures. Uncover the stories others won’t tell. Subscribe now for exclusive access Subscribe Today & Save! Unlock the Truth Now 》…
A PSV vehicle being fueled at a petrol station along Kenyatta Avenue in Nairobi.[Wilberforce Okwiri/Standard] Kenya’s energy regulator has proposed new rules that would force giant foreign oil and gas companies to enter partnerships with local firms and prioritise Kenyan goods and services, part of a sweeping overhaul aimed at maximising domestic benefits from the country’s nascent hydrocarbon sector. Uncover the stories others won’t tell. Subscribe now for exclusive access Subscribe Today & Save! Unlock the Truth Now 》 Unlimited access to all premium content Uninterrupted ad-free browsing experience Mobile-optimized reading experience Weekly Newsletters MPesa, Airtel Money and Cards accepted…
A PSV vehicle being fueled at a petrol station along Kenyatta Avenue in Nairobi.[Wilberforce Okwiri/Standard] Kenya’s energy regulator has proposed new rules that would force giant foreign oil and gas companies to enter partnerships with local firms and prioritise Kenyan goods and services, part of a sweeping overhaul aimed at maximizing domestic benefits from the country’s nascent hydrocarbon sector. The draft Petroleum (Local Content) Regulations, 2025, to be unveiled by the Energy and Petroleum Regulatory Authority (EPRA) on Friday, form a key part of a broader package of seven new sets of rules. The regulations are designed to govern the…
The Japan Credit Rating Agency (JCR) on Wednesday affirmed the African Export-Import Bank’s (Afreximbank) A-credit rating with a stable outlook, providing a vote of confidence for the Cairo-based lender just months after a controversial downgrade by Fitch Ratings. The rating affirmation reflects JCR’s view of the pan-African multilateral bank’s ‘strong strategic positioning’, robust risk management framework, consistent profitability, prudent liquidity policies and resilient capital base. The agency also highlighted the bank’s important role in supporting trade finance and economic development across Africa and the Caribbean. Follow The Standard channel on WhatsApp The decision stands in contrast to a June 4…
Central Bank of Kenya Governor Kamau Thugge. [Boniface Okendo, Standard] The Central Bank of Kenya (CBK) has introduced a new loan pricing system that will change how borrowers pay interest on loans in a significant move to make lending by commercial banks more transparent and responsive. The new rules take effect on September 1, 2025, for all new variable-rate loans. Existing variable-rate loans will transition to the new system by February 28, 2026. Unlock the Full Story — Join Thousands of Informed Kenyans Today Subscribe Today & Save! Unlock the Truth Now 》 Unlimited access to all premium content Uninterrupted…
Homes under construction at Oak Park Estate, Kenyatta Road, Gatundu South, by Banda Homes. [File, Standard] Hundreds of Kenyan homebuyers are staring at huge losses after real estate developer Banda Homes Ltd officially entered liquidation. This marks a dramatic collapse of a firm that once promised affordable housing but left investors with undelivered homes and lost savings in the millions of shillings. The company’s downfall was confirmed in a public notice published in the Kenya Gazette, which announced that the Official Receiver had been appointed as the liquidator following a special resolution. According to the notice, the Official Receiver was…
Serene Sarovar Premiere Hargeisa. [Courtesy/Sarovar Hotels] Sarovar Hotels, the Indian hospitality giant that operates Nairobi’s landmark Heron Hotel, has moved to deepen its regional footprint with the launch of the Serene Sarovar Premiere Hargeisa. The new property marks a major milestone as the first internationally branded five-star hotel to open in Somaliland. The launch signals a new wave of expansion for the hospitality group in Kenya and East Africa, which are increasingly attracting global investment due to their burgeoning travel and business sectors. In a statement, Ajay Bakaya, Chairman of Sarovar Hotels, emphasised the region’s importance. “East Africa represents a key growth frontier…
Gas cylinders trader in Migori Town on June 7, 2023. [File, standard] Kenya will introduce a pump price model for liquefied petroleum gas (LPG), applying the state-controlled pricing mechanism long used for kerosene, petrol and diesel to the cooking gas sector in a bid to curb rising costs and boost adoption. Unlock the Full Story — Join Thousands of Informed Kenyans Today Subscribe Today & Save! Unlock the Truth Now 》 Unlimited access to all premium content Uninterrupted ad-free browsing experience Mobile-optimized reading experience Weekly Newsletters MPesa, Airtel Money and Cards accepted Already a subscriber? Log in to pay 5 for…
Gas cylinders trader in Migori Town on June 7, 2023. [File, standard] Kenya will introduce a pump price model for liquefied petroleum gas (LPG), applying the state-controlled pricing mechanism long used for kerosene, petrol and diesel to the cooking gas sector in a bid to curb rising costs and boost adoption. Uncover the stories others won’t tell. Subscribe now for exclusive access Subscribe Today & Save! Unlock the Truth Now 》 Unlimited access to all premium content Uninterrupted ad-free browsing experience Mobile-optimized reading experience Weekly Newsletters MPesa, Airtel Money and Cards accepted Already a subscriber? Log in to pay 5 for…
CBK Governor Kamau Thugge before the National Assembly Committee on Finance and National Planning at Bunge Towers, Nairobi, on March 25, 2025. [Elvis Ogina, Standard] Major commercial banks are under scrutiny for their slow response to the Central Bank of Kenya’s (CBK’s) latest interest rate cut. The move, analysts say, highlights the longstanding trend of lenders being quick to hike but slow to lower borrowing costs. Mid-August, CBK cut its benchmark interest rate by 25 basis points to 9.50 per cent – the third reduction this year and the seventh since last year – in a bid to stimulate economic activity and boost…
CBK Governor Kamau Thugge before the National Assembly Committee on Finance and National Planning at Bunge Towers, Nairobi, on March 25, 2025. [Elvis Ogina, Standard] Major commercial banks are under scrutiny for their slow response to the Central Bank of Kenya’s (CBK’s) latest interest rate cut. The move, analysts say, highlights the longstanding trend of lenders being quick to hike but slow to lower borrowing costs. Mid-August, CBK cut its benchmark interest rate by 25 basis points to 9.50 per cent – the third reduction this year and the seventh since last year – in a bid to stimulate economic activity and boost…
President William Ruto’s cash-strapped administration has secured a vital endorsement after the global rating agency S&P upgraded Kenya’s credit rating. The surprise decision, analysts said, will provide immediate debt-cost relief but falls short of solving fundamental revenue weaknesses and high spending demands. On Friday, S&P upgraded Kenya’s long-term sovereign credit rating to ‘B’ from ‘B-’, citing “reduced near-term external liquidity risks” driven by what it sees as robust export earnings, strong diaspora remittances, and a successful Eurobond buy-back operation earlier this year. Follow The Standard channel on WhatsApp The agency maintained a stable outlook, noting expectations that solid economic growth would offset high interest costs and a slow fiscal consolidation…
Equity Bank’s regional branch in DR Congo. [File, Standard] Unlock the Full Story — Join Thousands of Informed Kenyans Today Subscribe Today & Save! Unlock the Truth Now 》 Unlimited access to all premium content Uninterrupted ad-free browsing experience Mobile-optimized reading experience Weekly Newsletters MPesa, Airtel Money and Cards accepted Already a subscriber? Log in Follow The Standard channel on WhatsApp Equity Bank’s regional branch in DR Congo. [File, Standard] Follow The Standard channel on WhatsApp Published Date: 2025-08-24 06:00:00 Author: By Brian Ngugi Source: The Standard
The Central Bank of Kenya in Nairobi. [File, Standard] The Central Bank of Kenya (CBK) will gain real-time monitoring power over customer transactions beginning August 22, following a major system upgrade. This marks a significant expansion of the regulator’s supervisory reach, strengthening its ability to surveil the entire banking sector as transactions occur. Unlock the Full Story — Join Thousands of Informed Kenyans Today Subscribe Today & Save! Unlock the Truth Now 》 Unlimited access to all premium content Uninterrupted ad-free browsing experience Mobile-optimized reading experience Weekly Newsletters MPesa, Airtel Money and Cards accepted Already a subscriber? Log in Follow…
The Central Bank of Kenya in Nairobi. [File, Standard] The Central Bank of Kenya (CBK) will gain real-time monitoring power over customer transactions beginning August 22, following a major system upgrade. This marks a significant expansion of the regulator’s supervisory reach, strengthening its ability to surveil the entire banking sector as transactions occur. Unlock the Full Story — Join Thousands of Informed Kenyans Today Subscribe Today & Save! Unlock the Truth Now 》 Unlimited access to all premium content Uninterrupted ad-free browsing experience Mobile-optimized reading experience Weekly Newsletters MPesa, Airtel Money and Cards accepted Already a subscriber? Log in Follow…
Customers shop for household goods in a supermarket. [File, Standard] Kenyan businesses are being squeezed by soaring taxes and muted consumer demand, forcing them to slash costs and automate operations to survive, a Central Bank of Kenya (CBK) survey shows. The July 2025 CBK CEOs Survey, which polled over 1,000 executives, found that the “elevated cost of doing business, reduced consumer demand, taxation and levies” were the primary domestic headwinds crushing growth prospects for the coming year. The move highlights a stark divide between the State’s pronounced national economic optimism and corporate distress. Follow The Standard channel on WhatsApp This…
Kenya Pipeline Company depot in Nairobi. [File, Standard] Parliament has ring-fenced privatisation of Kenya Pipeline Company (KPC) by imposing strict conditions to prevent a select group of wealthy investors from dominating the share sale and ensure wide access for ordinary citizens. The resolutions, passed by the National Assembly on Tuesday, represent a direct challenge to the Treasury’s urgent push to sell a stake in the profitable energy monopoly to raise an estimated Sh100 billion for the national budget. Unlock the Full Story — Join Thousands of Informed Kenyans Today Subscribe Today & Save! Unlock the Truth Now 》 Unlimited access…
A section of Narobi Expressway as captrured from Westlands on April 23, 2025. [Benard Orwongo, Standard] African heads of state will gather in Luanda from October 28-31 for a high-stakes summit aimed at closing the continent’s $100 billion annual infrastructure funding gap. The event, hosted by Angola in partnership with the African Union Development Agency (AUDA-NEPAD) and the African Union Commission (AUC) seeks urgent solutions as countries like Kenya struggle to finance stalled projects. Kenya and other African countries faces a critical shortfall in infrastructure investment. While the continent needs $130-$170 billion yearly for roads, power grids, ports, and digital networks, only…
Millions of Kenyan families face a new financial crisis as Trump Migrants’ crackdown hits vital diaspora remittances A growing financial crisis looms over millions of Kenyan households and the embattled economy, driven by a sharp, two-month drop in critical diaspora remittances. The unprecedented decline directly coincides with the escalated US immigration crackdown under President Donald Trump, sending ripples of concern through family’s dependent on overseas earnings. Follow The Standard channel on WhatsApp Data from the Central Bank of Kenya’s (CBK) latest weekly bulletin, published on Friday, reveals remittance inflows fell by over half a billion shillings (Sh542.8 million) to $410.1 million…
President William Ruto with Prime Minister Li Qiang, after a meeting at the Great Hall of the People in Beijing, China. [PCS] China has issued a strong rebuke to the US following threats by a Republican senator to review Washington’s ties with Nairobi and the major non-Nato ally (MNNA) status over its deepening economic and political ties with Beijing. Chinese ambassador to Kenya Guo Haiyan, speaking in Nairobi at an exhibition commemorating the 80th anniversary of the victory of the Chinese People’s War of Resistance Against Japanese Aggression and the World Anti-Fascist War, said in a statement that the US “cold-war…
Co-op Bank MD Gideon Muriuki. [Courtesy] Co-operative Bank of Kenya (Co-op Bank) has reported an 8.4 per cent growth in profit after tax for the first half of this year, driven by income growth. This is as the tier one lender aggressively expands its digital and physical footprints across Kenya and South Sudan. In results released yesterday, the lender stated that its net earnings increased by Sh1.1 billion to reach Sh14.1 billion for the six months, compared to Sh13 billion in the same period last year, signalling sustained growth driven by its strategic initiatives. “The strong performance by the bank…
How one player could take over Kenya’s cement market Published Date: 2025-08-14 06:00:00 Author: By Brian Ngugi Source: The Standard
KCB Group CEO Paul Russo during the release of the 2024 full year financial results, on March 12, 2025. [File, Standard] Shareholders of Kenya’s largest bank by assets, KCB Group, will smile all the way to the bank after the lender announced a record interim dividend payout fuelled by an eight per cent surge in net profit to Sh32.3 billion for the first half of 2025. The strong performance, driven by growth in earnings, has prompted the board to recommend a Sh13 billion payout, which includes a special dividend related to the sale of the National Bank of Kenya (NBK). The board…
A section of the The East African Portland Cement Company factory in Athi River. [Peterson Githaiga, Standard] Kenya’s cement manufacturing industry could be set for a huge shift after a Tanzanian tycoon made an offer to acquire a significant stake in East African Portland Cement Company Ltd (EAPCC). Edha Abdallah Munif, the owner of Amsons Group, intends to acquire the 29.2 per cent stake held by Swiss firm Holcim at Sh27.30 per share through a firm – Kalahari Cement, according to the offer advertised on August 1. Unlock the Full Story — Join Thousands of Informed Kenyans Today Subscribe Today…
Live Live Live Live Live Live Live Live Live Live Published Date: 2025-08-12 00:00:00 Author: By Brian Ngugi Source: The Standard
Credit score sheet. [Courtesy, Standard] The country is grappling with a deepening household debt crisis as a significant surge in Non-Performing Loans (NPLs) – commonly known as “bad loans” – signals widespread financial distress among ordinary families. This has forced commercial banks to ramp up aggressive recovery efforts that could leave countless households destitute. Uncover the stories others won’t tell. Subscribe now for exclusive access Subscribe Today & Save! Unlock Now Unlimited access to all premium content Uninterrupted ad-free browsing experience Mobile-optimized reading experience Weekly Newsletters MPesa, Airtel Money and Cards accepted Already a subscriber? Log in Follow The Standard…
Woman holding a mobile phone with loan application approval. [Courtesy/GettyImages] A new report offers an analytical look into the borrowing habits of Kenyans, revealing that digital credit is not just a financial tool but a catalyst for improved quality of life, business growth, and reduced financial stress, particularly among women. According to a report by global impact measurement company 60 Decibels, commissioned by digital lender Tala, a striking nine out of 10 Kenyans reported an improvement in their quality of life, and 89 per cent feel more in control of their finances after taking a digital loan. The report, based on direct…
A new report offers an analytical look into the borrowing habits of Kenyans, revealing that digital credit is not just a financial tool but a catalyst for improved quality of life, business growth, and reduced financial stress, particularly among women. According to a report by global impact measurement company 60 Decibels, commissioned by digital lender Tala, a striking nine out of 10 Kenyans reported an improvement in their quality of life, and 89 per cent feel more in control of their finances after taking a digital loan. The report, based on direct feedback from Tala customers, highlights how digital credit…
Premier Bank has launched an omnichannel digital banking platform and Kenya’s first wearable payment solution, signaling its intent to capture the nation’s mobile-first consumer market while carving out a niche as the country’s first Shari’ah-compliant digital bank. The move, in partnership with MasterCard, underscores a broader push among Kenyan lenders to enhance financial inclusion and adapt to evolving digital payment trends. The bank introduced Premier Connect, a Shari’ah-compliant digital omni-channel banking platform, and Premier Tap, a wearable payment solution. Follow The Standard channel on WhatsApp “This launch reflects our brand promise of ‘New Beginnings’, empowering customers with choice, flexibility,…
Kenya Pipeline Company depot in Nairobi, on August 21, 2024.[File, Standard] The cash-strapped National Treasury is aggressively pushing for the rapid sale of a stake in the state-owned Kenya Pipeline Company (KPC). Treasury anticipates approximately Sh100 billion in proceeds from the sale of the assets-rich energy monopoly in a bid to bolster the national budget. Unlock the Full Story — Join Thousands of Informed Kenyans Today Subscribe Today & Save! Unlock Now Unlimited access to all premium content Uninterrupted ad-free browsing experience Mobile-optimized reading experience Weekly Newsletters MPesa, Airtel Money and Cards accepted Already a subscriber? Log in Follow The…
Singapore’s Marina Bay Sands Hotel at dusk. [iStockphoto] When Rahul Ghosh, Enterprise Singapore’s Director for Africa and the Middle East, explains why his resource-scarce Southeast Asian nation is betting on Kenya, he starts with an unexpected metric – salon visits. “Kenyan women are the largest consumers of hair extensions across Africa—more than Nigerian women,” he told Financial Standard in a recent interview. “They visit salons twice as often.” Uncover the stories others won’t tell. Subscribe now for exclusive access Subscribe Today & Save! Unlock Now Unlimited access to all premium content Uninterrupted ad-free browsing experience Mobile-optimized reading experience Weekly Newsletters MPesa, Airtel Money and Cards…
AI trading. [Courtesy/ GettyImages] Artificial intelligence (AI)-driven transaction analysis can explain a striking 82.7 per cent of Kenyan commercial banks’ financial performance, a new study has found, underscoring the powerful link between advanced monitoring and bank profitability. Beyond simple detection, advanced transaction analysis, particularly with the aid of AI, is emerging as the primary bulwark against increasingly cunning financial criminals, shifting the focus from reaction to proactive prevention. Uncover the stories others won’t tell. Subscribe now for exclusive access Subscribe Today & Save! Unlock Now Unlimited access to all premium content Uninterrupted ad-free browsing experience Mobile-optimized reading experience Weekly Newsletters…
AI trading. [Courtesy/ GettyImages] Artificial intelligence (AI)-driven transaction analysis can explain a striking 82.7 per cent of Kenyan commercial banks’ financial performance, a new study has found, underscoring the powerful link between advanced monitoring and bank profitability. Beyond simple detection, advanced transaction analysis, particularly with the aid of AI, is emerging as the primary bulwark against increasingly cunning financial criminals, shifting the focus from reaction to proactive prevention. Uncover the stories others won’t tell. Subscribe now for exclusive access Subscribe Today & Save! Unlock Now Unlimited access to all premium content Uninterrupted ad-free browsing experience Mobile-optimized reading experience Weekly Newsletters…
Solar panels installed at the Tata Chemical Magadi factory. [Peterson Githaiga, Standard] India’s Tata Chemicals Ltd is preparing for a “big shutdown” at its Kenyan operations, a move the company assures will not disrupt the supply of its primary product, soda ash, despite a “slightly lower volume” from its East African unit in the first quarter of fiscal year 2026. The chemical firm confirmed that it holds “enough stocks to serve the local and international market in the second quarter” to mitigate any impact from the planned operational halt. Tata Chemicals has a long-standing presence in Kenya, where it extracts and…
Kenya Pipeline Company depot in Nairobi, on August 21, 2024. [File, Standard] William’s Ruto administration is moving ahead to privatise a stake in the lucrative Kenya Pipeline Company (KPC) in a bid to raise crucial funds as budget and development support from global institutions has taken longer than expected. Reports from Treasury say the government plans to sell at least 60 per cent of the shareholding through an initial public offering on the Nairobi Securities Exchange (NSE), which could net more than Sh80 billion going by its valuation at the time of sale. KPC had assets worth Sh120.7 billion in…
Kenya’s public debt has climbed sharply by 32.9 per cent to Sh11.51 trillion by May 2025 since President Ruto’s administration assumed office in September 2022. [File, Standard] President William Ruto’s ambitious economic model (Rutonomics) is confronting its most significant test, even as new data reviewed by the Financial Standard reveals a surging national debt burden coinciding with persistent shortfalls in government revenue. Kenya’s public debt has climbed sharply by 32.9 per cent to Sh11.51 trillion by May 2025 since President Ruto’s administration assumed office in September 2022. Unlock the Full Story — Join Thousands of Informed Kenyans Today Subscribe Today & Save!…
Rapid expansion of online trade is constrained by growing concerns around cybersecurity and consumer trust. [Courtesy] Kenya’s booming e-commerce sector faces significant headwinds from persistent cybersecurity threats and a lack of consumer trust, a new government draft policy shows. These factors deter many Kenyans from fully embracing online shopping The “Kenya National E-Commerce Policy Draft, June 2025,” reviewed by Financial Standard highlights these challenges as critical obstacles to the sector’s full potential, according to the Ministry of Investments, Trade and Industry. Follow The Standard channel on WhatsApp The document notes that despite rapid expansion in online trade, its growth is “constrained by…
National Treasury Cabinet Secretary John Mbadi says the government has already raised over Sh60 billion from the fuel levy. [File, Standard] The International Monetary Fund (IMF) has raised transparency concerns as Kenya advances plans to securitise part of its fuel levy — a Sh175 billion financing strategy drawing sharp criticism for potentially bypassing parliamentary oversight and constitutional safeguards. The National Treasury says the securitisation move will fast-track road construction and clear pending bills by converting future fuel levy revenues into tradeable securities. Unlock the Full Story — Join Thousands of Informed Kenyans Today Subscribe Today & Save! Unlock Now Unlimited…
Treasury CS John Mbadi accompanied by PS Chris Kiptoo led the Kenyan delegation in talks IMF team led by Vitor Gaspar, Director of the Fiscal Affairs Department, and Yan Liu, Director of the Legal Department, during the 2025 Spring Meetings. [Courtesy] The International Monetary Fund (IMF) has made governance reforms and anti-corruption measures a cornerstone of its future financial support to Kenya, with a draft report assessing the country’s corruption risks expected by December 2025. In a statement to The Standard, IMF Spokesperson Julie Kozack confirmed that “promoting good governance remains an essential part of the IMF’s engagement with Kenya,” signalling…
Treasury CS John Mbadi accompanied by PS Chris Kiptoo led the Kenyan delegation in talks IMF team led by Vitor Gaspar, Director of the Fiscal Affairs Department, and Yan Liu, Director of the Legal Department, during the 2025 Spring Meetings. [Courtesy] The International Monetary Fund (IMF) has made governance reforms and anti-corruption measures a cornerstone of its future financial support to Kenya, with a draft report assessing the country’s corruption risks expected by December 2025. In a statement to The Standard, IMF Spokesperson Julie Kozack confirmed that “promoting good governance remains an essential part of the IMF’s engagement with Kenya,” signalling…
African nations, including Kenya, are significantly lagging in the global renewable energy revolution despite immense potential, risking being left behind as the world transitions to clean energy, a new United Nations (UN) report warned this week. The “Seizing the Moment of Opportunity” report, seen by Weekend Business, highlights a stark contrast in adoption rates since the 2015 Paris Agreement, raising concerns as countries prepare for the upcoming Conference of the Parties (COP) climate summit in Brazil. COP is an annual meeting where global leaders and policymakers convene to assess progress on climate change and negotiate further agreements. Follow The Standard channel on…
De La Rue operates from Nairobi’s Ruaraka area.[File, Standard] For decades, British banknote printer De La Rue straddled the Kenyan financial landscape like a colossus, its presence deeply embedded in the nation’s currency. However, the unceremonious loss of its lucrative contract, following a change in government, has dealt a profound blow, sending ripples of financial pain across its global operations. Uncover the stories others won’t tell. Subscribe now for exclusive access Subscribe Today & Save! Unlock Now Unlimited access to all premium content Uninterrupted ad-free browsing experience Mobile-optimized reading experience Weekly Newsletters MPesa, Airtel Money and Cards accepted Already a…
Kenyan miraa, also known as khat, has been cleared for export to Djibouti, marking a significant new market opportunity for farmers and traders of the lucrative stimulant crop. The Agriculture and Food Authority (AFA) announced yesterday the development follows successful trade engagements between the two nations. AFA Director General Bruno Linyiru said the market access was secured after a Kenyan trade mission visited Djibouti in October last year, followed by a reciprocal visit from a Djibouti delegation in November 2024. Follow The Standard channel on WhatsApp “Djibouti has opened its market for Kenyan miraa, subject to regulatory compliance,” Dr Linyiru said in…
National Treasury Building. [File/Standard] Kenya’s medium-term fiscal consolidation, critical for any potential ratings upgrade and access to more affordable international capital, is likely to get more challenging, Moody’s Ratings has warned. The assessment by the global ratings agency issued on Wednesday signals significant headwinds for the Kenyan economy, which is slowing and battling a raft of headwinds. Kenya’s current credit rating from Moody’s is Caa1 with a positive outlook. This indicates a high risk of default, but the positive outlook suggests that Moody’s might consider upgrading the rating in the future if certain conditions improve. Follow The Standard channel on WhatsApp The…
Kenya’s fiscal stability faces fresh challenges after the Kenya Revenue Authority (KRA) fell Sh47.3 billion short of its tax collection target for the fiscal year ending June 30, 2025. The shortfall, revealed in new National Treasury documents published in the Kenya Gazette, comes despite aggressive collection efforts by the taxman and threatens to derail President William Ruto’s economic reform agenda. Official figures show the KRA collected Sh2.257 trillion in tax revenue against a revised target of Sh2.305 trillion. The Treasury initially hoped that KRA would collect Sh2.745 trillion but revised this downwards. Follow The Standard channel on WhatsApp This marks the…
President William Ruto, accompanied by his Chinese counterpart Xi Jinping inspects a guard of honor at the Great Hall of the People in Beijing, China. [PHOTO REBECCA NDUKU/PCS. 24/4/2025] The US Senate Foreign Relations Committee warns that the Trump administration’s aggressive trade policies and deep cuts to diplomatic and foreign aid programmes are eroding America’s global standing while creating openings for China to expand its influence in key partner nations like Kenya. According to a new report by Democratic members of the Foreign Relations Committee, President Donald Trump’s administration’s Uncover the stories others won’t tell. Subscribe now for exclusive access…
President William Ruto, accompanied by his Chinese counterpart Xi Jinping inspects a guard of honor at the Great Hall of the People in Beijing, China. [PHOTO REBECCA NDUKU/PCS. 24/4/2025] The US Senate Foreign Relations Committee warns that the Trump administration’s aggressive trade policies and deep cuts to diplomatic and foreign aid programmes are eroding America’s global standing while creating openings for China to expand its influence in key partner nations like Kenya. According to a new report by Democratic members of the Foreign Relations Committee, President Donald Trump’s administration’s Unlock the Full Story — Join Thousands of Informed Kenyans Today…
A house in South B. [File, Standard] Land prices in Nairobi’s fast-developing Eastleigh and South B suburbs have surged, nearing those of the central business district (CBD). The prices have surpassed Upper Hill, historically a prime commercial hub, according to the newly published BuyRentKenya Land Price Index for the second quarter of this year. Uncover the stories others won’t tell. Subscribe now for exclusive access Subscribe Today & Save! Unlock Now Unlimited access to all premium content Uninterrupted ad-free browsing experience Mobile-optimized reading experience Weekly Newsletters MPesa, Airtel Money and Cards accepted Already a subscriber? Log in Follow the The…
A house in South B. [File, Standard] Land prices in Nairobi’s fast-developing Eastleigh and South B suburbs have surged, nearing those of the central business district (CBD). The prices have surpassed Upper Hill, historically a prime commercial hub, according to the newly published BuyRentKenya Land Price Index for the second quarter of this year. Uncover the stories others won’t tell. Subscribe now for exclusive access Subscribe Today & Save! Unlock Now Unlimited access to all premium content Uninterrupted ad-free browsing experience Mobile-optimized reading experience Weekly Newsletters MPesa, Airtel Money and Cards accepted Already a subscriber? Log in Follow the The…
Kenya relies heavily on diaspora remittances for household incomes and foreign exchange stability. [Courtesy] The financial stability of Kenyan households and the broader national economy are under increasing strain following a sharp decline in crucial diaspora remittances in June 2025. This significant month-on-month drop coincides with an escalating US immigration crackdown under President Donald Trump, directly impacting the ability of many Kenyans abroad to support their families and contributing to a wider economic downturn. Data from the Central Bank of Kenya (CBK) reveals that diaspora remittances to Kenya declined by $17 million (Sh2.1 billion), or 3.86 per cent, in June. …
A file photo of Centum Chief Executive Officer Dr James Mworia. [File, Standard] Centum Investment Company Plc has maintained its dividend payout after reporting a consolidated net profit of Sh813 million for the financial year ended 31 March 2025. The Group’s total comprehensive income rose by 28 per cent to Sh3.2 billion, up from Sh2.5 billion in the prior year, reflecting continued resilience and progress in implementing the Centum 5.0 strategy. Centum is a leading investment holding company focused on identifying high-potential opportunities, scaling them through value addition, and monetising at the appropriate time to deliver shareholder returns. “We…
Workers label pairs of finished jeans inside the United Aryan textile factory at the Export Processing Zone (EPZ) in Nairobi on February 4, 2025. (Photo by SIMON MAINA / AFP) Kenya is bracing for the return of punishing US tariffs after failing to secure a trade deal during a 90-day negotiation window. This leaves exporters exposed to steep levies that threaten to upend a key trade relationship. The Trump administration’s self-imposed deadline for reaching trade agreements expires on August 1, when tariffs on Kenyan goods are set to increase to 10 per cent – a move that could reduce…
Treasury CS John Mbadi and PS Chris Kiptoo lead the Kenyan delegation in a meeting with the IMF team led by Director of the Fiscal Affairs Department Vitor Gaspar and Director of the Legal Department Yan Liu in the US. [Courtesy] Kenya’s quest for billions in crucial financing from the International Monetary Fund (IMF) now hinges on its commitment to tackle endemic corruption, as the global lender has stressed good governance as a fundamental requirement for future disbursements. This shift follows a two-week “Governance Diagnostic” mission led by Deputy Division Chief in the Fiscal Affairs Department, Rebecca A. Sparkman, which concluded…
Why IMF is demanding corruption audit on Kenya Published Date: 2025-07-04 08:20:00 Author: By Brian Ngugi Source: The Standard
Professor Omri Even-Tov, a co-author of the new Harvard-UC Berkeley study on digital lending, presents the findings to FinTech stakeholders in Nairobi. [Courtesy] Digital lending is significantly boosting financial well-being, income, and employment for borrowers in Kenya, challenging long-held assumptions about credit risk in emerging markets, according to a pivotal new study. The research, co-authored by academics from Harvard Business School, the University of California, Berkeley, the University of British Columbia, and Northwestern University, suggests a powerful role for mobile data in expanding financial access. The study, titled ‘Digital Lending and Financial Well-Being: Through the Lens of Mobile Phone Data’,…
Evans Munyori The Head of HR, Kenya and Africa at Standard Chartered during the ceremony. [Courtesy] Standard Chartered Kenya is looking to deepen its partnership with the Chartered Institute for Securities & Investment (CISI) towards capacity building and enhancing professionalism within its staff. The two organizations said this in turn will allow the tier one lender to better add value to their client base and take advantage of opportunities within wealth management and affluent banking towards boosting revenue. The bank recently held a ceremony to acknowledge staff who have completed the CISI Level 4 Wealth Management programme, a higher-level qualification…
Afreximbank President Benedict Oramah (center). His new book the “Foundations and Evolutions of Structured Trade Finance” argues that implementation of AfCFTA should boost regional commerce from its current 15-17 per cent share of Africa’s total trade. [Courtesy] Intra-African trade could double within a decade as continental free trade reforms take hold, African Export-Import Bank (Afreximbank) President Benedict Oramah projected on Thursday while launching the second edition of his trade finance book. The updated “Foundations and Evolutions of Structured Trade Finance” argues that implementation of the African Continental Free Trade Agreement (AfCFTA) should boost regional commerce from its current 15-17 per…
African leaders and finance experts have united in tribute to Professor Benedict Oramah (right) at Afreximbank’s 32nd Annual Meetings, celebrating the outgoing president’s decade-long leadership for transforming the institution into a cornerstone of Africa’s economic sovereignty. [Courtesy] African leaders and finance experts have united in tribute to Professor Benedict Oramah at Afreximbank’s 32nd Annual Meetings, celebrating the outgoing president’s decade-long leadership for transforming the institution into a cornerstone of Africa’s economic sovereignty. Oramah, who took the helm in 2015, has expanded the Cairo-based pan African trade bank beyond its original trade finance mandate into crisis response, industrialization, and infrastructure development,…