A flower vendor at Dounan Flower Market in Kunming, southwest China’s Yunnan Province on May 11, 2025. [Brian Ngugi, Standard] In the sprawling, bustling heart of Kunming, the capital of Southwest China’s Yunnan province, lies the Dounan Flower Market – a behemoth of blossoms and a barometer of Asia’s floral appetite. As the second-largest fresh-cut flower trading centre globally and the undisputed king of Asia’s vibrant flower trade, Dounan moves a staggering 10 million stems daily. Its auction halls are a constant flurry of bids and blooms destined for vases across the continent and beyond. Now, this colossal market…
Author: By Brian Ngugi
CBK Governor Kamau Thugge. [File, Standard] A showdown is brewing between commercial banks and the Central Bank of Kenya (CBK) over the State-backed proposals aimed at providing cash-strapped Kenyan borrowers with cheaper loans. CBK Governor Kamau Thugge. [File, Standard] Published Date: 2025-05-02 00:00:00 Author: By Brian Ngugi Source: The Standard
From left: KCB Group CEO, Paul Russo, Trade Cabinet Secretary Lee Kinyanjui and PAPSS CEO, Mike Ogbalu III, during the launch of the Pan-African Payment & Settlement System in Nairobi, on February 27, 2025. [Wilberforce Okwiri,Standard] Kenya’s leading lenders KCB Group and Equity Group, are strategically aligning with the Pan-African Payment and Settlement System (PAPSS) to capitalise on burgeoning intra-African trade. They view the platform as a key to unlocking growth as regional integration efforts gain momentum and global trade dynamics shift. KCB Group, the largest lender by asset size, and Equity Group, boasting the largest customer base, have both…
President William Ruto during bilateral talks with Prime Minister Li Qiang at the Great Hall of the People in Beijing, China where they agreed to accelerate trade and investment relations between Kenya and China, on April 23, 2025. [PCS] President William Ruto has wrapped up his state visit to China, during which he secured a series of agreements spanning infrastructure, healthcare, security, and trade. The visit marks a new phase in the growing ties between Kenya and China, especially in light of ongoing global trade tensions. The agreements, signed with Chinese President Xi Jinping, aim to further strengthen Kenya-China relations,…
The shilling, fresh from a sustained rally against the US dollar, is anticipated to face renewed downward pressure as the annual dividend payout season for listed firms approaches, traders said yesterday. Demand for the greenback from companies with foreign shareholders seeking to repatriate dividends is expected to intensify in the coming weeks, adding to existing dollar demand from energy and manufacturing importers. A slew of prominent Kenyan companies, as indicated by announcements from the Central Depository and Settlement Corporation (CDSC), have declared their dividend payouts and set crucial book closure dates for 2025. This mid-year surge in dollar demand by…
The shilling, fresh from a sustained rally against the US dollar, is anticipated to face renewed downward pressure as the annual dividend payout season for listed firms approaches, traders said yesterday. Demand for the greenback from companies with foreign shareholders seeking to repatriate dividends is expected to intensify in the coming weeks, adding to existing dollar demand from energy and manufacturing importers. A slew of prominent Kenyan companies, as indicated by announcements from the Central Depository and Settlement Corporation (CDSC), have declared their dividend payouts and set crucial book closure dates for 2025. This mid-year surge in dollar demand by…
President William Ruto hold bilateral talks with Chinese President Xi Jinping at the Great Hall. [PCS] Analysts suggest President Ruto’s visit presents a unique opportunity for Nairobi to leverage the US-China fallout to Kenya’s advantage. Talks with President Xi Jinping also expected to centre around debt and financing for major infrastructure projects. President William Ruto is set to embark on a crucial five-day state visit to Beijing, China, commencing Tuesday. The visit comes as Kenya grapples with mounting economic pressures and as the cash-strapped Kenya Kwanza administration seeks to navigate local economic headwinds but also the turbulent waters of the ongoing US-China…
President William Ruto sahkes hands with Prof Benedict Oramah, the president of AfriExim Bank after the signing of the Sh400 billion financing program between Kenya and AfriExim Bank at State House Nairobi on Tuesday May 2, 2023. [PCS] The African Export-Import Bank (Afreximbank) is urging African nations to aggressively pursue internal trade integration through the African Continental Free Trade Area (AfCFTA) as a critical buffer against a rising tide of global protectionism. The multilateral lender views the swift operationalisation and deepening of the pan-African trade bloc, encompassing 54 of the 55 African Union member states, as essential to shield the continent’s…
US President Donald Trump during the National Prayer Breakfast at the US Capitol in Washington, DC, on February 6, 2025. [AFP] The Trump administration is now prioritising Kenya for food and agriculture agreements despite having imposed tariffs that have strained the trade partnership between Nairobi and Washington. Under the new initiative, the United States Department of Agriculture (USDA) will provide support to Kenya, alongside Ethiopia and Ghana, through its “Food for Progress Programme.” The decision comes despite the recent 10 per cent reciprocal import tariff slapped on Kenyan goods by Washington, a move that has sparked alarm among Kenyan manufacturers and…
Central Bank of Kenya Governor Kamau Thugge says Trump’s tariff could reduce Kenya’s exports to the US by approximately Sh12.9 billion ($100 million). [File, Standard] Kenya has refuted allegations of currency manipulation leveled by the Trump administration. This is even as Nairobi acknowledges a potential $100 million (Sh12.9 billion ) hit to the country’s export earnings from newly imposed US tariffs. Central Bank of Kenya (CBK) Governor Kamau Thugge, while speaking at a virtual press briefing on Wednesday following the Monetary Policy Committee (MPC) meeting, asserted that the CBK’s interventions in the foreign exchange market were solely aimed at smoothing out volatility,…
Customers of KCB Bank Kenya, the country’s largest lender by assets, are set to benefit from lower borrowing costs following the lender’s announcement on Wednesday that it would reduce its base lending rate. The move comes swiftly after the Central Bank of Kenya (CBK) announced a cut to its benchmark lending rate (CBR) on Tuesday. In a public notice, KCB stated it would lower its base lending rate from 14.6 per cent to 13.85 per cent per annum. The new rate will take effect for new loan facilities from April 11, 2025, and for existing facilities from May 11, 2025.…
Aurelien Glay, Caetano Kenya, Managing Director and Dr. Sylvia AganiCaetano Kenya Commercial & Marketing Director in the newly launched Vigus Pro Single Cab. [Courtesy] Caetano Kenya, in partnership with Chinese manufacturer Jiangling Motors Corporation (JMC), has launched the JMC brand in Kenya, introducing the Vigus line of locally assembled vehicles aimed at Kenyan professionals. Caetano will sell the locally assembled JMC Vigus pickups, utilizing Chinese-made Completely Knocked Down (CKD) kits. The deal is expected to create jobs, facilitate skill development, and contribute to the growth of the local automotive industry. The Vigus lineup includes the Vigus Pro Single Cab,…
From Left: KCB Group CEO Paul Russo, KCB Group Chairman Joseph Kinyua and KCB Group Director Finance Lawrence Kimathi during the release of the 2024 full year financials in Nairobi today. The Group reported a 65% rise in net profit to KSH 61.8 Billion and also announced a Ksh9.6 billion dividend payout to shareholders. [Wilberforce Okwiri,Standard] Kenya’s largest bank by assets, KCB Group, has announced a strategic move to bolster its digital capabilities by acquiring a 75 per cent stake in Riverbank Solutions Ltd, a homegrown financial technology (fintech) firm. The lender said the acquisition, subject to regulatory approvals, aims to expand…