Icpak CEO Grace Kamau emphasized that financial reporting is no longer a procedural formality but a strategic requirement for integrity and public trust. [File, Standard] Kenya’s private and public sector organisations have been urged to embrace International Financial Reporting Standards (IFRS) and International Public Sector Accounting Standards (IPSAS) as tools to attract capital, boost investor confidence, and enhance global competitiveness. Speaking during the official launch of the 24th edition of the Financial Reporting (FiRe) Award in Nairobi, key sector regulators reaffirmed their commitment to promoting transparency, accountability, and comparability through internationally recognised financial reporting frameworks. The event in Nairobi brought…
Author: By Sofia Ali
Kenya’s entertainment industry is facing a growing threat from the rapid rise of online piracy, which now surpasses traditional cable theft in scale and impact, putting thousands of jobs in the creative economy at risk. Online piracy is now growing at a faster pace than traditional forms like illegal cable redistribution, according to MultiChoice Kenya Managing Director Nzola Miranda. He emphasised the broader economic impact, including tax revenue loss and harm to the local film industry. Follow The Standard channel on WhatsApp “Piracy doesn’t just hurt broadcasters it cripples the livelihoods of actors, producers, and crews. Every time you watch pirated…
Agriculture CS Mutahi Kagwe at the International Floriculture Trade Expo (IFTEX 2025), held at the Oshwal Centre, Westlands in Nairobi. [Nanjinia Wamuswa, Standard] Kenya is set to host the second edition of the Africa International Agricultural Expo (AIAE) from October 28 to 31, 2025, at the Kenyatta International Convention Centre (KICC). Organised by Agri-Africa Exhibition Ltd, in partnership with Hongxing International Exhibition Company Ltd (HXIE) of China, this year’s event is expected to draw over 10,000 local and international visitors and feature 150–200 exhibitors from across the globe. The expo is expected to offer a platform for innovation, investment, and…
Youth Affairs and Creative Economy PS Fikirini Jacobs Kahindi at a past event. [Kanyiri Wahito, Standard] Calls have intensified to equip young people in Kenya’s coastal region with the tools they need to protect, commercialise, and grow their innovations. This will help in transforming the area into a dynamic hub of entrepreneurship and sustainable development. Speaking during a preparatory meeting in Nairobi for the upcoming 6th edition of Pwani Innovation Week, scheduled for October 27–31, 2025, Principal Secretary (PS) for Youth Affairs Fikirini Kahindi said the coastal region is rich in youthful energy, creativity, and cultural diversity, which remain untapped…
Shalina Healthcare CEO Shalina Clifford. [Courtesy] Access to affordable, quality healthcare remains a major concern in Kenya, where many citizens face significant financial barriers to receiving essential medical services. Despite the government’s commitment to Universal Health Coverage (UHC) and ongoing reforms, affordability and accessibility continue to hinder the realization of equitable healthcare for all. Healthcare stakeholders emphasize the need for products that are not only of high quality but also affordable, highlighting the delicate balance between maintaining standards and ensuring accessibility for the average Kenyan. Shalina Clifford, Group chief executive of Shalina Healthcare offers insights from the private healthcare business…
Cabinet Secretary for Trade Lee Kinyanjui launched the Coffee Club Kenya in Lavington along Gitanga Road,the first of its kind in Africa on July 16, 2025. [Benard Orwongo, Standard] Australian café chain, Coffee Club, has announced a $10 million (Sh1.3 billion) investment to expand into the Kenyan market and the region, its first foray into the continent. As part of its growth strategy, the restaurant chain plans to open 30 branches across East Africa, banking on Kenya’s rich coffee heritage. Speaking at the launch event, Trade and Investment Cabinet Secretary Lee Kinyanjui, noted that although Kenya produces some of the…
Long haul trucks along the Nairobi – Mombasa road transporting cargo. [File, Standard] Governments, development agencies, and private sector leaders from across East Africa have renewed their commitment to transforming the Northern Corridor into a sustainable, efficient trade and transport artery. The high-level meeting, attended by ministers, principal secretaries, technical experts, and international partners, focused on strengthening critical transport, trade, and infrastructure linkages that connect East Africa’s landlocked countries to global markets. Speaking during the event, Kenya’s Cabinet Secretary for Roads and Transport, Davis Chirchir, emphasized the strategic importance of investing in modern infrastructure. “The continued development of paths 11…
The event will spotlight ground-breaking innovations in construction materials, lighting, mining, water systems, and more. [iStockphoto] Nairobi is set to host the 26th edition of Buildexpo Kenya 2025 from July 16 to 18 at the Kenyatta International Convention Centre (KICC). The expo comes against the backdrop of a construction sector grappling with recent contractions and a hopeful rebound. The international trade exhibition, which attracts global players in the built environment, will be officially inaugurated by Principal Secretaries Charles Hinga (Housing and Urban Development), Regina Ombam (Trade) and John Ololtuaa (Tourism). It will highlight the government’s commitment to revitalise the sector…
The event will spotlight ground-breaking innovations in construction materials, lighting, mining, water systems, and more. [iStockphoto] Nairobi is set to host the 26th edition of Buildexpo Kenya 2025 from July 16 to 18 at the Kenyatta International Convention Centre (KICC). The expo comes against the backdrop of a construction sector grappling with recent contractions and a hopeful rebound. The international trade exhibition, which attracts global players in the built environment, will be officially inaugurated by Principal Secretaries Charles Hinga (Housing and Urban Development), Regina Ombam (Trade) and John Ololtuaa (Tourism). It will highlight the government’s commitment to revitalise the sector…
L_R: Patrick Kilemi Principal Secretary Ministry of Co-operatives and Micro, Small & Medium Enterprises (MSMEs) Development, State Department for Cooperatives chats with Wycliffe Ambetsa Oparanya Cabinet Secretary for Cooperatives and MSMEs during inauguration of the new KUSCCO board on 12st May 2025.[Wilberforce Okwiri,Standard] Women-led micro, small, and medium enterprises (MSMEs) from Kenya and Tunisia have come together for the inaugural three-day expo in Nairobi. The Tunisian Food and Handcrafts Expo, which runs from June 16 to 18, is the first of its kind in Kenya and seeks to strengthen economic and cultural ties between the two nations. Speaking during the opening ceremony, Tunisia’s Ambassador to Kenya,…
The Kenya Revenue Authority (KRA) has raised the alarm over a sharp rise in Value-Added Tax (VAT) fraud involving nil and non-filers, revealing that it lost an estimated Sh13 billion in revenue between April 2024 and July 2025. This was on account of fraudulent tax practices primarily linked to the re-emergence of the Missing Trader scheme, which involves companies issuing eTIMS-compliant invoices but failing to remit the corresponding VAT. These so-called missing traders have exploited gaps in the tax system, undermining government revenue collection efforts. An analysis by KRA shows that 10,771 taxpayers claimed purchases worth Sh29.8 billion from 2,750…
President William Ruto and His Highness Sheikh Mohamed bin Zayed Al Nahyan during the signing of a historic Comprehensive Economic Partnership Agreement between Kenya and the UAE in Abu Dhabi. January 15, 2025. [Courtesy, PCS] Entrepreneurs and investors have been encouraged to capitalise on expanding economic opportunities in the United Arab Emirates (UAE). This is as deepening ties with the Gulf nation positions Kenya as a strategic gateway for international trade, innovation, and investment. The move comes amid the surge in trade volumes, strengthened bilateral relations, and rising foreign direct investment (FDI) into the UAE from emerging markets, including Africa. Trade between Kenya…
Anti-Counterfeit Authority Executive Director Dr. Robi Mbugua Njoroge (left) with Tanzania Fair Competition Commission Director General William Eroi (right) addressing the media at Authority Headquarters in Nairobi on March 25, 2024. [Boniface Okendo, Standard] Kenya is losing a staggering KSh800 billion annually an amount equivalent to nearly 9% of its Gross Domestic Product (GDP) due to the proliferation of counterfeit goods, according to data released by the Anti-Counterfeit Authority (ACA). The economic drain is not only straining the country’s financial health but also costing Kenyans 44,000 jobs each year. This comes at a critical time as Kenya faces a record…
BAT Kenya Board of Directors Chairperson Rita Kavashe and BAT K Managing Director Crispin Achola during the launch of the 2023 BATK Sustainability Report. July 7, 2024. [Courtesy, Standard] BAT Kenya has called for collaboration to accelerate progress towards building a smokeless world ahead of the World No Tobacco Day to be marked on May 31. Until recently, the only means to address the harm associated with smoking cigarettes was tobacco control measures to make smoking less appealing. However, a variety of smokeless products, such as vapes and nicotine pouches, are available and produce a fraction of the toxicants present in…
Kakamega Khetias Supermarket attendant arranges foodstuffs, on March 21, 2025. [Benjamin Sakwa, Standard] The government has been asked to reconsider proposed changes to input VAT in the Finance Bill 2025. Speaking in an interview with the Financial Standard, Fiona Okadia, an economist at the Institute of Economic Affairs, warned that the changes could seriously undermine the manufacturing sector and stifle industrial growth. She argued that eliminating the input VAT offset mechanism could strain cash flows, create uncertainty and impose unnecessary administrative burdens on already struggling businesses. Under the current VAT regime, businesses are allowed to offset input VAT taxes paid…
The Kenyatta International Convention Centre (KICC) in Nairobi, Kenya hosts a variety of events, including conferences, exhibitions, and cultural festivals.[Wilberforce Okwiri, Standard] Kenya is set to host the 26th edition of Autoexpo Kenya 2025, a major international trade event that will bring together exhibitors from more than 30 countries. It will take place from May 28 to 30 at the Kenyatta International Convention Centre (KICC) in Nairobi. Among the exhibitors are global industrial powerhouses such as China, India, Germany, and Italy, alongside key regional players, including South Africa, Egypt, and Kenya. The event aims to showcase cutting-edge technology, emerging trends, and innovative solutions in the…
Kenya Development Corporation Director General Norah Ratemo during the drive mission breakfast meeting hosted by Kenya development corporation (KDC) to bring together development partners and private sector actors to showcase the progress of the DRIVE program, a bold initiative derisking and enhancing value in Kenya’s pastoral economies at an event held at Movenpick Hotel, Nairobi on 13th May 2025. [David Gichuru, Standard] Pastoralists in the arid and semi-arid lands (ASALs) have received over Sh519 million boost through livestock value chain financing. Speaking in Nairobi, Kenya Development Corporation (KDC) Director General Norah Ratemo, said the initiative aims at unlocking capital, building…
Passengers boarding a KQ(Kenya Airways) Boeing 737-800 Aircraft at Moi International Airport Mombasa. [Wilberforce Okwiri,Standard] Over 1,000 stakeholders from across the aviation sector have convened in Nairobi to discuss the challenges and opportunities surrounding ground operations as the industry braces for long-term expansion. One of the most pressing issues raised is the high cost of ground support equipment (GSE), driven by heavy import taxes and logistical hurdles across the continent. Kenya Airways (KQ), the host airline for the three-day 37th IATA Ground Handling Conference (IGHC), which kicked off on Tuesday, says it is actively working with government authorities to advocate for…
From left: European Investment Bank Vice President Thomas Ostros, EU Ambassador to Kenya Henriette Geiger, President William Ruto, Maros Sefcovic EU Commissioner for Trade and Economic Security, Trade CS Lee Kinyanjui and ICT CS William Kabogo during the EU-Kenya business forum in Nairobi, on May 12, 2025. [Wilberforce Okwiri, Standard] The European Union (EU) has launched the European Chamber of Commerce in Kenya (EuroCham Kenya) aimed at enhancing economic ties and private sector collaboration The launch took place on Monday in Nairobi during the second EU-Kenya business forum, held under the theme “Digitalising Trade.” It was attended by top diplomats, business…
L-R Nairobi Securities Exchange (NSE) CEO Frank Mwiti, NSE EmpowerHER Lead Demi Murila, Chief of Staff at the Office of the First Lady Mary Muinde, and NSE Chairman Kiprono Kittony ring the bell to officially launch the NSE EmpowerHER Patron’s Circle—an exclusive leadership and advocacy platform dedicated to advancing gender inclusion in Kenya’s financial and investment landscape, on Thursday, 8th May 2025. (Jenipher wachie, standard) The Nairobi Securities Exchange (NSE) has unveiled a platform dedicated to accelerating gender inclusion, improving women’s access to capital, and expanding investment opportunities. The NSE EmpowerHER Patrons Circle aims to ensure women’s meaningful representation from…
Stanbic Holdings PLC Chairman, Joseph Muganda (Far Right), Regional Chief Executive, East Africa, Standard Bank Group, Patrick Mweheire (Second Right), Stanbic Bank Kenya and South Sudan Chief Executive, Dr. Joshua Oigara (Far Left) and Stanbic Bank Kenya Chief Financial and Value Officer, Dennis Musau (Second Left) during the 2024 Stanbic Holdings PLC Financial Results Investor Briefing. [Courtesy] Stanbic Bank has announced a Sh3.3 billion profit after tax for the period ended March 31, 2025. The lender attributed the first quarter performance to a shift in year-on-year macroeconomic dynamics and base effects, which have temporarily impacted growth momentum. Net interest income…
Kakamega Governor Fernandes Barasa before the Senate’s Devolution and Intergovernmental Relations committee at Bunge Towers, Parliament, Nairobi. March 24th,2025 [Elvis Ogina, Standard] The Council of Governors (CoG) has strongly opposed the proposed Ksh 417.4 billion allocation to counties in the 2025/26 Division of Revenue Bill, terming it insufficient to support effective service delivery and undermining the spirit of devolution. The CoG, chaired by Kakamega Governor Fernandes Barasa—who also chairs the Finance, Planning, and Economic Affairs Committee—argues that the current allocation heavily favors the national government at the expense of counties’ constitutional mandates. Speaking during the deliberations on the Division of…
SGR Security personnel match during the 60th Labour Day Celebrations at Uhuru Gardens, Nairobi on May 1, 2025. [Boniface Okendo, Standard] The silence of the Federation of Kenya Employers (FKE) during this year’s Labour Day celebrations spoke volumes, particularly after the event, attended by high-ranking dignitaries including President William Ruto concluded without any remarks from the employers’ body. FKE, representing over 1,400 employers nationwide, has been locked in a prolonged standoff with the Central Organisation of Trade Unions (Cotu). The rift deepened after Cotu Secretary General Francis Atwoli accused employers, under the FKE umbrella of dragging their feet whenever the government announces a…
Flywheel Advisory Executive Director Grace Mburu (L), FRC Director Naomi Muchiri, Jubilee Holdings CEO Dr Julius Kipng’etich (R) at the Inaugural Kenya Anti-Financial Crime Summit Post Summit Report Launch. The report highlights key challenges and offers actionable recommendations to strengthen Kenya’s financial system and support its removal from the FATF Grey List. [Wilberforce Okwiri,Standard] Stakeholders in the financial sector have cited a lack of political will as one of the major barriers to achieving financial integrity in Kenya. This comes in the backdrop of Kenya’s placement on the Financial Action Task Force (FATF) grey list. Greylisting means that a country…
L-R: WWF Head of conservation programmes Kenya,Raimond Molenje Chief Executive Officer Kenya Bankers Association,Juna Wala Director accounting & exchange services National Treasury & Tamara Cook CEO FSD Kenya during launch of the banking sector sustainability reporting template. [Wilberforce Okwiri,Standard] The banking sector has partnered with accountants to launch a new template that seeks to standardise sustainability and climate-related risk reporting across Kenya’s banking sector The IFRS S1 and S2 template equips financial institutions to align with global benchmarks, enhance decision-making, and unlock opportunities in the transition to a low-carbon and socially inclusive economy Speaking during the launch in Nairobi yesterday, Kenya Bankers Association (KBA) Chief Executive…
From left: EY East Africa Consulting Partner Robert Nyamu, EY East Africa Strategy Leader & Partner Aditi Nayar and EY East Africa Tax Leader & Partner Francis Kamau during the 2025 Ernest & Young Pre-Budget media briefing at Sarova Panafric Hotel in Nairobi, on April 15, 2025. [Wilberforce Okwiri, Standard] Financial experts have urged the government to implement expenditure cuts urgently to reduce the ballooning wage bill. Speaking during the Ernst & Young (EY) annual Pre-Budget Media Briefing, financial experts pointed out that duplicated roles within government, wastage of resources, and inefficiencies are major areas that need to be considered…
Cabinet Secretary, Ministry of Co-operatives and Micro, Small, Medium Enterprises (MSMEs) Development Wycliffe Oparanya (R) and Absa Bank Kenya CEO Abdi Mohamed tour the Absa Stand during the launch of the Kenya Public-Private sector MSME Dialogue; MSMEs Connect, an initiative aimed at establishing an MSMEs development ecosystem for sustainable and social economic growth. Walking them through the Absa SMEs proposition is Patricia Mburu, Absa Bank Kenya SME Cluster Manager. [Photo/Standard] Kenyan micro, small and medium enterprises (MSMEs) in the renewable energy sector are set to benefit from Sh500 million in funding from the Swedish government. Speaking during the launch of…
ICT and Digital Economy CS William Kabogo and EU Ambassador to Kenya Henriette Geiger during a meeting in Nairobi, on April 10, 2025. [Collins Oduor, Standard] Kenyan traders have been urged to embrace digital trade solutions by integrating artificial intelligence (AI) into their operations to position the country as a regional hub for digital commerce. The call to action came during a high-level trade forum hosted in Nairobi, where the European Union (EU) delegation led by EU Ambassador to Kenya Henriette Geiger outlined a series of strategic initiatives to support Kenya’s digital transition. Speaking at the event, EU Ambassador to…
Kenya Development Corporation and Timber Treatment International Ltd during the launch of the steam plant, on March 26, 2025. [Wilberforce Okwiri, Standard] Kenya’s green industrialisation bid has received a boost with the commissioning of a steam plant in Dandora, Nairobi. The facility, set up through a partnership between Kenya Development Corporation (KDC) and private firm Timber Treatment International, will integrate biomass-based steam production, reducing carbon emissions and reliance on fossil fuels. The financing of the plant has been facilitated through KDC’s collaboration with the Export-Import Bank of India. Speaking during the commissioning event in Nairobi, KDC Chairman Sakwa Bunyasi said…
Kenya Development Corporation and Timber Treatment International Ltd during the launch of the steam plant, on March 26, 2025. [Wilberforce Okwiri, Standard] Kenya’s green industrialisation bid has received a boost with the commissioning of a steam plant in Dandora, Nairobi. The facility, set up through a partnership between Kenya Development Corporation (KDC) and private firm Timber Treatment International, will integrate biomass-based steam production, reducing carbon emissions and reliance on fossil fuels. The financing of the plant has been facilitated through KDC’s collaboration with the Export-Import Bank of India. Speaking during the commissioning event in Nairobi, KDC Chairman Sakwa Bunyasi said…