President William Ruto at State House Nairobi where he assented to the Supplementary Appropriations Bill. [PCS] Many salaried Kenyans could see the amount of taxes they pay significantly go up if the government adopts proposals made by the World Bank. In the proposals—which the World Bank said could make personal income tax in Kenya equitable and yield a lower tax burden for low income earners—high-income earners will pay 38 per cent of their salaries as Pay As You Earn (Paye) tax. Get Trusted News for Only Ksh99 a Week Subscribe Today & Save! Get Started Unlimited access to all premium…
Author: By Macharia Kamau
Outgoing Kenya Airways Chairman Michael Joseph at the airline’s past investors briefing in Nairobi. [Wilberforce Okwiri, Nairobi] After nearly a decade as the chairman of Kenya Airways (KQ), Michael Joseph is set to retire from the national carrier’s board of directors next month, ending a career marked by many highs but also numerous lows. During his tenure, the airline posted its worst-ever losses in 2022 but also turned a profit last year, these two perhaps characterising the different ups and downs KQ experienced under his leadership. Get Trusted News for Only Ksh99 a Week Subscribe Today & Save! Get Started…
Energy PS Juma Mukhwana and Kenya Bureau of Standards MD Esther Ngari during the World Metrology Day in Nairobi on May 20,2025. [Benard Orwongo, Standard] You might rant all you want online about the state of the Kenyan economy, but as long as you are not buying locally made products, your views will not amount to much. This is the message by Industry Principal Secretary Juma Mukhwana, who said while the government is not averse to criticism, Kenyans need to play their part in growing local enterprises through buying locally-made products. Get Trusted News for Only Ksh99 a Week Subscribe…
Woman from Borana tribe using a mobile phone, in a village in Southern Ethiopia, Africa. [Courtesy/GettyImages] Safaricom’s earnings in Ethiopia were largely driven by mobile data last year, whose revenues accounted for more than 50 per cent of the total revenue that the company got in the country. This is a complete departure from its Kenyan unit, where mobile money accounts for nearly half of the revenues, having taken over from voice and text messages that were its mainstay in the early days. Mobile data revenue for Safaricom Ethiopia stood at Sh5.6 billion, equivalent to 62.9 per cent of the…
Tourists waiting to board the fixed-wing aircraft at Angama airstrip in Masai Mara. The Airstrip is set to be upgraded into an airport. [Robert Kiplagat, Standard] Early this month, the government announced major plans to start construction of an international airport in Narok County, a move it said would further unlock the tourism circuit in the region, whose key attraction is the world famous Maasai Mara. The National Treasury is set to pump Sh700 million into the project which is expected to be ready in 15 months. Get Trusted News for Only Ksh99 a Week Subscribe Today & Save! Get…
New PPPs model opens door for local firms after Adani deals flop Published Date: 2025-05-18 10:00:00 Author: By Macharia Kamau Source: The Standard
Modernisation of the Jomo Kenyatta International Airport (JKIA) was one of the projects to be undertaken by the disgraced Adani Group. [Boniface Okendo, Standard] Kenyan firms are angling to invest in the country’s key mega infrastructure projects, including the Jomo Kenyatta International Airport (JKIA), months after the cancellation of lucrative deals to the Indian conglomerate Adani Group. The government cancelled over $2.5 billion (Sh322.5 billion) in deals with Indian businessman Gautam Adani’s firm after his indictment for fraud, including the modernisation of Kenya’s biggest airport and the construction of power transmission lines. Get Trusted News for Only Ksh99 a Week…
Commercial banks, insurance firms, and other financial services sector players are eyeing financing about a third of Kenya’s development expenditure through public-private partnerships (PPPs). This is as the government pursues increased private sector participation in infrastructure development to bridge the financing gap experienced as tax revenue continues to post sluggish growth and the wiggle room for more public debt shrinks. A new report says local investors can finance the construction of infrastructure projects, including roads, dams, ports, and power transmission lines, accounting for about 30 per cent of the country’s development expenditure in the coming years. The government plans to…
Standard Group Limited Mombasa Road. [Photo/Jacob Otieno] The Capital Markets Authority (CMA) has given the Standard Group PLC the go-ahead to raise Sh1.5 billion from shareholders through a rights issue. The company, the oldest and one of the leading media houses in the region, said the funds would be used to strengthen its balance sheet so that it could take advantage of emerging digital growth opportunities as part of an ongoing re-organisation. “The Authority has reviewed the documentation and information memorandum submitted in support of the application for the increase in the share capital of the company through issuance of…
Left: Sebastian Groth, Ambassador of the Federal Republic of Germany to Kenya, Jennifer Morgan, State Secretary and Special Envoy for International ClimateAction, the German Federal Foreign Office, Daniel Kiptoo, Director General, Energy and Petroleum Regulatory Authority, Davis Chirchir, Cabinet Secretary, Energy & amp;Petroleum and Alex Wachira, Principal Secretary, Ministry of Energy & Petroleum, State Department of Energy during the launch of the guidelines on Green Hydrogen and its Derivatives.[James Wanzala,Standard] Kenya is looking at deepening its renewable energy use through green hydrogen, which is tipped to hold immense potential in cleaning up industries as well as creating new jobs locally across different sectors.…
A PSV vehicle being fueled at a petrol station along Kenyatta Avenue in Nairobi. [Wilberforce Okwiri, Standard] The Energy and Petroleum Regulatory Authority (Epra) has retained fuel prices at the same level for the second month in a row. This will mean the retail price of super petrol will remain at Sh174.63 per litre in Nairobi. Diesel will continue retailing at Sh164.86 per litre while kerosene will retail at Sh148.99 per litre. “In the period under review, the maximum allowed petroleum pump prices for super petrol, diesel and kerosene remain unchanged,” said Epra in its monthly capping price guide on…
KCB advanced Sh53.2 billion in 2024 to different customers undertaking diverse projects, up from Sh22.1 billion in 2023. [File, Standard] KCB Group more than doubled green loans disbursed in 2024, emerging among the front runners in the race among banks to green up their loan portfolios. The lender advanced Sh53.2 billion in the period to December 2024 to different customers undertaking diverse projects, up from Sh22.1 billion in 2023, a growth of 140 per cent. Banks are racing to increase the amount of loans advanced to environmentally friendly projects as Kenya and the world battle to minimise the impact of…
Kenyans are grappling with reduced disposable income as increased statutory deductions and higher taxes—both direct and indirect—weaken their spending power. Get Trusted News for Only Ksh99 a Week Subscribe Today & Save! Get Started Unlimited access to all premium content Uninterrupted ad-free browsing experience Mobile-optimized reading experience Weekly Newsletters Already a subscriber? Log in Published Date: 2025-05-11 00:00:00 Author: By Macharia Kamau Source: The Standard
From Left: Safaricom PLC Chief Finance Officer- Dilip Pal, Board Chairman Adil Khawaja, Safaricom CEO Dr. Peter Ndegwa and Safaricom Telecommunications Ethiopia (CEO) Wim Vanhelleputte during release of Safaricom 2024/25 Full Year Results at Michael Joseph Centre in Nairobi. [Wilberforce Okwiri,Standard] Safaricom posted an overall 7.27 per cent growth in profit after tax for the year to March 31, 2025, to Sh45.76 billion, up from Sh42.7 billion previously. The profit jump was boosted by strong performance in Kenya, where profit grew by 14.88 per cent to Sh95.47 billion from Sh82.65 billion previously, pushing total revenues up to Sh388.7 billion from Sh349…
Boda boda operators wait for giveaways and fuel happy hour session during the launch of Galana energy service station at Kithini market in Machakos County on December 3, 2024. [John Muia, Standard] The motor vehicle industry registered a major decline last year as many households and businesses froze acquisitions owing to a mix of factors. These included tough economic conditions, refusal by banks to lend to Kenyans and high taxes that affected both spending power for many and drove up vehicle costs. The total number of newly registered vehicles dropped 21.4 per cent, according to the Economic Survey 2025 launched…
President William Ruto presents the Supplementary Appropriation Bill (National Assembly Bill No. 8 2025) to National Assembly Speaker Moses Wetangula after asssenting to it at State House, Nairobi. Looking on is National Assembly Majority Leader Kimani Ichung’wah. PHOTO HIRAM OMONDI/PCS. 18/3/2025. New proposals in the Finance Bill 2025 could slow down Kenya’s transition to clean energy by raising the cost of key technologies such as electric vehicles, solar power systems and energy storage solutions. The Bill has proposed the migration from the list of zero-rated items to that of VAT exempt goods, which analysts say will increase the cost of…
President William Ruto interacts with construction workers during the inspection of the ongoing construction of the 4,566-unit Shauri Moyo B Affordable Housing Project in Kamukunji Constituency, Nairobi, in March this year. [PCS] President William Ruto’s “no-taxes Finance Bill” has hit one of his pet projects after it proposed to remove tax exemptions on materials used for the construction of affordable houses. On the flipside, the Bill has proposed lowering the Export and Investment Levy on certain construction products to five per cent from 17.5 per cent, seen as a move to lift the construction industry that was on consistent decline…
The Finance Bill 2025 has proposed to increase to 20 years the time that some of the firms running under the innovation hub will pay lower corporate taxes. [File, Standard] The government is seeking to attract global financial services sector players to the Nairobi International Financial Centre (NIFC) by offering more incentives as it seeks to accelerate the take-off of the innovation hub. The Finance Bill 2025 has proposed to increase to 20 years the time that some of the firms running under NIFC will pay lower corporate taxes. Dividends that the NIFC-certified firms will pay will also be tax-exempt,…
A worker arranges the cooking oil products at Khetia Supermaket in Nyeri on Sept 20, 2023. [Kibata Kihu, Standard] The National Treasury appears unsure how to go about this year’s Finance Bill following last year’s events that saw Kenyans stage countrywide protests to oppose the additional tax measures contained in the 2024 Money Bill. The protests even forced President William Ruto not to assent to it. In the Finance Bill 2025, tabled in Parliament on Wednesday, the Treasury has avoided proposing new tax measures and instead has attempted to reform tax administration, with a key feature being the review of…
Central Organization of Trade Unions (COTU-K) Secretary General Francis Atwoli addressing at Solidarity Building, Nairobi on April 26, 2025, during their meeting with Union’s Secretary Generals and Stewards ahead of May 1st Labour Day celebration. [Boniface Okendo, Standard] Kenyan workers will today keenly follow the proceedings of Labour Day celebrations with expectations that the government will put in place measures to increase their take-home pay or lighten their tax burden. The pay for many workers has been through a multi-year battering, with high taxes and levies reducing their disposable income. In addition to the direct raids on payslips, there are…
Chinese Ambassador to Kenya Guo Haiyan speaking during a press briefing on the state visit between Kenya and China 22nd April to 25th 2025. [Wilberforce Okwiri, Standard] Kenya is increasingly becoming a focal point for China in its quest to grow influence not just in Africa but the Global South, amidst Beijing’s tariff fight with the US. Kenya’s critical role is seen in last week’s visit to China by President William Ruto, which the Chinese Embassy in Nairobi said has carved out a new path for Chinese relations with Kenya, Africa and generally the Global South. Chinese Ambassador to Kenya…
President William Ruto and Yan Tang Chief Executive Officer during groundbreaking for the 35MW Orpower 22 Geothermal Plant in Menengai, Nakuru County. [File, Standard] While President William Ruto was slamming Western institutions for being outdated and failing to live up to today’s global realities, his administration was being called out for presiding over the country’s deteriorating business environment. Kenya’s shaky energy supply and its high cost once again became a topic of discussion internationally when the Vietnamese tycoon Doanh Chau critiqued Kenyan leaders for talking big but falling short on delivery. President William Ruto and Yan Tang Chief Executive Officer…
Social Security building that houses NSSF head offices in Nairobi. [File, Standard] The National Social Security Fund (NSSF)Friday, kicked off its 60th anniversary celebrations with its Annual General Meeting as it eyes growing to a Sh1 trillion fund by 2027. NSSF was established in 1965 through an Act of Parliament, Cap 258 of the Laws of Kenya, and over the years evolved from being operated as a Department within the Labour Ministry to a provident fund and later transformed into a mandatory pension scheme through the NSSF Act 2013. It is currently implementing its 2023-2027 strategic plan, in which it…
Part of the turbines at Lake Turkana Wind Power farm at Sarima, near Lake Turkana in Laisamis, Marsabit County on March 15, 2017. [File, Standard] The High Court has ordered the Ministry of Energy to make all power projects underway in Marsabit County public. This is the second such directive after the ministry failed to honour a similar order by the ombudsman. Part of the turbines at Lake Turkana Wind Power farm at Sarima, near Lake Turkana in Laisamis, Marsabit County on March 15, 2017. [File, Standard] The High Court has ordered the Ministry of Energy to make all power…
President William Ruto lays a wreath at the Monument to the Peoples’ Heroes at Tiananmen Square in honour of the martyrs of the struggle for the founding of the Peoples’ Republic of China in 1949, on April 23, 2025. [PCS] President William Ruto on Wednesday slammed the World Bank and the International Monetary Fund, terming them relics of an old world and unable to deal with many challenges facing the globe today. The President, who spoke at a public lecture in China, said the two institutions are outdated and need radical reform to realign their focus to tackle today’s global…
President William Ruto lays a wreath at the Monument to the Peoples’ Heroes at Tiananmen Square in honour of the martyrs of the struggle for the founding of the Peoples’ Republic of China in 1949, on April 23, 2025. [PCS] President William Ruto on Wednesday slammed the World Bank and the International Monetary Fund, terming them relics of an old world and unable to deal with many challenges facing the globe today. The President, who spoke at a public lecture in China, said the two institutions are outdated and need radical reform to realign their focus to tackle today’s global…
Principal Secretary for the State Department for Petroleum Mohamed Liban before the Public Accounts committee at Parliament buildings, Nairobi. May 23rd,2024 [Elvis Ogina, Standard] Lake Gas is pushing ahead with its bulk cooking gas terminal project in Kilifi County, risking running afoul of the High Court’s ruling halting construction and revoking the firm’s environmental licence. The Tanzanian firm has been positioning itself as a key player in Kenya’s cooking gas market. A planned 25,000 metric tonne liquified petroleum gas (LPG) storage plant is expected to boost its Kenyan operations, including retail sales of cooking gas. The firm said tanks with…
Director of Public Policy and Government Relations at TikTok for Sub-Saharan Africa, Fortune Mgwili–Sibanda. [File, Standard] Across Africa, governments and private sector players have poured significant investments into digital infrastructure—from sprawling fibre optic networks to booming mobile payments platforms. Yet, as innovation races ahead, regulation is often lagging, slowed down by legacy mindsets among policymakers and slow-moving policy processes. This has resulted in the regulatory environment remaining inconsistent, frequently playing catch-up with industry developments. In some cases, policymakers have made proposals that seem out of step with digital realities, such as attempts to restrict social media use. While many of…
Director of Public Policy and Government Relations at TikTok for Sub-Saharan Africa, Fortune Mgwili–Sibanda. [File, Standard] Across Africa, governments and private sector players have poured significant investments into digital infrastructure—from sprawling fibre optic networks to booming mobile payments platforms. Yet, as innovation races ahead, regulation is often lagging, slowed down by legacy mindsets among policymakers and slow-moving policy processes. This has resulted in the regulatory environment remaining inconsistent, frequently playing catch-up with industry developments. In some cases, policymakers have made proposals that seem out of step with digital realities, such as attempts to restrict social media use. While many of…
Director of Public Policy and Government Relations at TikTok for Sub-Saharan Africa, Fortune Mgwili–Sibanda. [File, Standard] Across Africa, governments and private sector players have poured significant investments into digital infrastructure—from sprawling fibre optic networks to booming mobile payments platforms. Yet, as innovation races ahead, regulation is often lagging, slowed down by legacy mindsets among policymakers and slow-moving policy processes. This has resulted in the regulatory environment remaining inconsistent, frequently playing catch-up with industry developments. In some cases, policymakers have made proposals that seem out of step with digital realities, such as attempts to restrict social media use. While many of…
Director of Public Policy and Government Relations at TikTok for Sub-Saharan Africa, Fortune Mgwili–Sibanda. [File, Standard] Across Africa, governments and private sector players have poured significant investments into digital infrastructure—from sprawling fibre optic networks to booming mobile payments platforms. Yet, as innovation races ahead, regulation is often lagging, slowed down by legacy mindsets among policymakers and slow-moving policy processes. This has resulted in the regulatory environment remaining inconsistent, frequently playing catch-up with industry developments. In some cases, policymakers have made proposals that seem out of step with digital realities, such as attempts to restrict social media use. While many of…
Kenyans will get a slight reprieve following the reduction of fuel prices for the next one month. The Energy and Petroleum Regulatory Authority (Epra) on Monday lowered the cost of the three products that it regulates by Sh1.95 per litre of super petrol, Sh2.20 per litre of diesel and Sh2.40 a litre of kerosene. The drop was helped by a mix of factors, including the decline in the cost of products globally as well as a deal reached by the government and the Middle Eastern oil firms that supply the country with petroleum products under the government-to-government deal. This saw…
Cooking gas cylinders at Heshima trading centre in Nakuru. [File, Standard The Ministry of Energy and Petroleum is pushing for the conversion of privately owned cooking gas handling facilities into common user infrastructure as part of its broader strategy to drive up Liquefied Petroleum Gas (LPG) usage in the country. The initiative, which will be regulated by the Energy and Petroleum Regulatory Authority (Epra), aims to open up existing LPG storage and import facilities to multiple industry players. This move would allow any licensed importer to discharge cooking gas into shared storage terminals before it is distributed to the market.…
Auditor General Nancy Gathungu (centre) with Latin Poda, the First President of the Court of Accounts of Burkina Faso (left) and Outgoing secretary General of AFROSAI and minister Delegate at the presidency of Cameroon in charge of Supreme State Audit Office Mme Mbah Acha Fomundam peruse the launched Report on illicit Financial Flows in Africa which consist of 12 countries, on 10,March, 2025 at Norfolk hotel. [Jenipher Wachie, Standard] Kenya could continue losing billions of shillings in tax revenues through illicit financial flows due to weak implementation of laws, limited cooperation among government agencies, and letting off offenders with minimal…
Jubilee Health Insurance CEO Njeri Jomo during the launch of “Always With You” programme that seeks to make healthcare more accessible and convenient. [File, Standard] Jubilee Health Insurance Ltd (JHIL) has more than doubled its profit after tax to Sh910 million for the year ending December 31, 2024, up from Sh438 million the previous year. The firm, a subsidiary of Jubilee Holdings, attributed the growth to investments in digital health solutions and operational efficiency during the year. “This performance is a reflection of our purpose-driven culture and our promise to walk with every Kenyan on their healthcare journey,” said Jubilee…
Jubilee Health Insurance CEO Njeri Jomo during the launch of “Always With You” programme that seeks to make healthcare more accessible and convenient. [File, Standard] Jubilee Health Insurance Ltd (JHIL) has more than doubled its profit after tax to Sh910 million for the year ending December 31, 2024, up from Sh438 million the previous year. The firm, a subsidiary of Jubilee Holdings, attributed the growth to investments in digital health solutions and operational efficiency during the year. “This performance is a reflection of our purpose-driven culture and our promise to walk with every Kenyan on their healthcare journey,” said Jubilee…