The Auditor-General has raised concerns over wasteful and irregular expenditure by the State Law Office and Department of Justice, highlighting questionable rent payments amounting to millions of shillings during the 2023/2024 financial year. In the latest audit report, the Department is reported to have paid Kshs.20.9 million to the Central Bank of Kenya Staff Pension Scheme for office space on the 18th, 19th, and 20th floors of the Central Bank Pension Towers — despite the offices being unoccupied at the time of physical inspection in November 2024.Additionally, the audit revealed that KSh 2.28 million in rent was paid for nine regional offices whose lease agreements had already expired, some as early as April 2022.These findings…
Author: Fred Obura
The Competition Tribunal of South Africa has conditionally approved the acquisition of MultiChoice Group Limited by French media conglomerate Groupe Canal+ SAS, with a strong emphasis on job security and economic transformation. The Tribunal approved Canal+’s acquisition of up to 100% of MultiChoice Group’s issued ordinary shares building on Canal+’s existing stake of over 45%.The approval comes with a robust set of enforceable conditions aimed at protecting employment, promoting local ownership, and fostering development across the South African broadcasting sector.Central to the Tribunal’s decision is a legally binding condition prohibiting any retrenchments of South African employees across Canal+, MultiChoice Group Limited, and…
A former General Manager at Equity Bank has failed in his attempt to reclaim his position, where he earned a monthly salary of nearly Ksh1 million, after the court sided with the bank that background checks were part of the recruitment process. Benard Okoth Ambasa, who served for just a few weeks this year as the General Manager – Employee Relations at Equity Bank (Kenya) sought reinstatement to the lucrative Ksh 950,000-per-month position.The bone of contention was Ambasa’s failure to disclose his role as a director at Yarrow Spa & Barber Shop, Dokam Travels and Roekam Executive Barbers & Spa.The petition before the Employment and Labour Relations Court had…
The Port of Mombasa has posted robust growth in cargo and container volumes in the first half of 2025, defying global shipping headwinds to maintain its upward trajectory. From January to June 2025, the port handled 21.3 million metric tonnes of cargo — an 8.1% increase compared to 19.7 million metric tonnes during the same period in 2024.The port processed 1,012,949 Twenty-Foot Equivalent Units (TEUs) in the first half of 2025, marking a 6.7% rise from 948,983 TEUs handled in H1 2024 — an increase of 63,966 TEUs.Import volumes jumped by 13.4% (up 48,793 TEUs), while exports grew by 14.4% (up 50,572 TEUs), underscoring a strong trade performance on both fronts. “We are seeing the results of strategic investments…
The Communications Authority of Kenya (CA) has issued a stern directive to financial institutions, motor vehicle dealers, and both public and private entities, urging strict compliance with licensing regulations for tracking service providers. The CA has raised concern over the proliferation of unauthorized tracking services and substandard equipment, warning that such practices expose users to cybersecurity and operational risks.Citing the law the regulator reiterated that it is an offence to operate any communications system or service without a valid license.The regulator warned that non-compliance will attract enforcement measures, including prosecution. To mitigate these risks, the CA has directed all stakeholders in the use of tracking technologies including financial institutions,…
Kenya’s mobile subscription market experienced a significant 6.7% surge in the first three months of 2025, following near stagnation in the preceding three quarters. The 5.38 million-strong growth, as reported by the Communications Authority (CA) from the four major operators’s data, was largely driven by Airtel.Airtel added 3.01 million active SIM cards in Q3 FY 2024/25, increasing its subscriber base from 21.52 million in Q1 and Q2 to 24.53 million in Q3.Safaricom also saw growth, adding 1.67 million subscribers, bringing its total to 48.24 million from 46.57 million. Airtel attributes its subscriber surge, which has seen its market share grow…
The COMESA Secretariat is nearing completion of the e-Certificate of Origin (e-CO) integration with the national e-CO systems of Kenya, Seychelles, and Ethiopia. Additionally, Comoros, Djibouti, Egypt, Mauritius, Rwanda, and Tunisia are working with the Secretariat and have completed their national situational assessments as they prepare to interface with and implement the COMESA e-CO system.The eCO system will replace the manual certificates and help to circumvent the manual process.Certificates of Origin are issued to exporters within the COMESA Free Trade Area (FTA) to confer preferential treatment to goods originating from an FTA member State. The uptake of the electronic certificate has not…
Kenya’s commercial bank’s average rates have continued their downward trend, mirroring the the Central Bank of Kenya’s (CBK) recent monetary policy easing measures, the apex bank’s statistics for May show. According to the CBK data, Citibank N.A Kenya (10.36%), Stanbic Bank (12.84%), Standard Chartered Bank (13.35%), Guardian Bank (13.57%) and Consolidated Bank (13.61%) are among the top five least expensive. On the other hand HFC Limited (18.99%), Credit Bank (19.41%), Middle East Bank (19.87%), Access (19.98%) and Commercial International Bank (CIB) Kenya (20%) are among five banks with highest interest rates. This wide spread, with an industry average of 15.44%, indicates varying risk appetites, cost structures, and target…
The Cabinet has approved two bills-Government-Owned Enterprises Bill, 2025 and the Public Procurement and Asset Disposal (Amendment) Bill, 2025- seeking to modernize and professionalize public sector operations. The Government-Owned Enterprises (GOE) Bill, 2025 introduces sweeping reforms aimed at enhancing the governance, transparency, and efficiency of these entities—now to be officially designated as Government-Owned Enterprises (GOEs). A key feature of the bill is the introduction of a merit-based recruitment process for leadership roles in GOEs.This process will be supervised by an independent panel, effectively removing political interference and ensuring only qualified and competent individuals assume key positions. “These reforms represent a new chapter for Kenya’s government-owned institutions,” said a…
The newly instituted US visa bans targeting certain African countries are expected to have a limited impact on the continent’s aviation industry. According to the International Air Transport Association (IATA), these bans mostly affect nations with already weak economies and low volumes of travel to the United States.IATA says the demand for air travel within Africa remains steady and is forecast to grow by 8% in 2025. African airlines reported a modest net profit of approximately USD 0.1 billion in 2024. “As the industry eyes growth, success will depend on targeted investments, policy reform, and international cooperation to address the chronic supply…
Parliament is seeking to curb the importation of substandard goods by traders and to plug tax losses from foreign betting companies through amendments to the Finance Bill 2025. According to the Chair of the National Assembly’s Departmental Committee on Finance and National Planning Kimani Kuria, some traders are beating Kenya Revenue Authority (KRA) by false declaration of imported goods.In amendments to the Finance Bill 2025, Kuria is seeking water-tight laws to deter growing cases of traders importing finished products such as edible oils and declaring them at the port of entry as raw materials.A new clause in the finance bill will now…
The Competition Authority of Kenya (CAK), an anti-trust regulator domiciled within the Treasury, has locked horns with the Ministry of Trade over plans to establish a new agency likely to rival its mandate. The Ministry of Trade is reportedly in the process of establishing a National Consumer Protection Policy and a new agency whose functions would duplicate those of the CAK.CAK is questioning the idea behind the new agency wondering if its creation is the most efficient path at a time when government is walking on tight budget path.The regulator has launched its 2025-2027 strategic plan, which will require KSh…
Leaders of the Group of Seven (G7) nations have issued a joint statement reiterating their commitment to peace and stability in the Middle East, while underscoring support for Israel’s security and voicing strong concerns over Iran’s role in the region. In a communiqué released at the 2025 G7 Leaders’ Summit, in Kananaskis, Canada, the leaders reaffirmed their support for Israel’s right to defend itself amid ongoing regional tensions.The statement described Iran as “the principal source of regional instability and terror,” and reiterated a long-standing international position that Tehran must never acquire nuclear weapons.The latest flare up in the long-running conflict…
The Kenya Revenue Authority (KRA) recorded a 16% increase in VAT collections, topping KSh 32.141 billion as at the close of May 2025. The Large and Medium Taxpayers (LMT) Department, where majority of the beneficiaries are domiciled, recorded a 13% growth in VAT, surpassing the target by over Kshs. 1 billion.The Micro and Small Taxpayers (MST) Department registered a 24% growth, surpassing the VAT target by Kshs. 110 million. The taxman has also said that it is planning to deactivate more than 20, 000 inactive taxpayer accounts. “It is noteworthy that the VAT burden is currently being shouldered by only 22%…
The total number of reported online crimes almost doubled to 3.5 billion in 2024, the Kenya National Bureau of Statistics (KNBS) 2025 Economic Survey shows. The number of reported cyberattacks has increased progressively from 139.9 million in 2020, 339 million in 2021, 700 million in 2022 and 1.744 billion in 2023.System vulnerabilities accounted for 3.27 billion of the reported cybercrimes in 2024, while web attacks increased from 386, 067 in 2023 to 8.4 million in 2024.During the period, KNBS also reported brute force attacks-127.8 million-and mobile application attacks-526, 362-for the first time. The total number of cybersecurity advisories increased by…
The Trump administration has ordered the termination of the Harvard University’s Student and Exchange Visitor Program (SEVP) certification, effectively barring the institution from enrolling foreign students. Harvard enrolled 6,751 international students from 146 countries in fall 2024 with students from China, Canada and India making up the largest groups, collectively accounting for 40% of the international cohort.The order also means that existing foreign students must transfer or lose their legal status.This is the latest move in a dispute between the institution and the Trump Administration, which says that the university’s leadership has ‘created an unsafe campus environment by permitting anti-American, pro-terrorist…
The government has moved to protect interest of members in the Savings and Credit Cooperative Societies (SACCOS) following growing cases of mismanagement leading to the total or near collapse of some entities. In recent years, several SACCOs in Kenya have collapsed, often due to financial mismanagement, fraud, and unsustainable practices. Some SACCOs have been caught falsifying accounts, declaring non-existent profits to attract new members, and paying large dividends to retain them, leading to unsustainable debt and potential collapse. At KUSCCO, the umbrella body for SACCOs, a forensic audit revealed financial misappropriation, prompting the organization to take steps to address the issues and…
The government is estimating it will need KSh2.5 trillion to implement 2023-2027 energy strategy, which is heavy on expanding exploration and discoveries of oil and gas, renewable energy development and addressing perennial power loses. The Ministry of Energy also plans to drill 111 geothermal wells, continue with nuclear energy development, increase installed capacity to 3976.8MW and connecting to electricity 2.3 million additional customers and 30,000 public facilities.To address power losses, the ministry says it will enhance reliability through system reinforcement, enhanced feeder refurbishment, smart metering and preventive maintenance on the distribution network.The plan succeeds the 2018-2022 strategy which encountered challenges…
Listed power generating company KenGen is set to build a KSh 17bn, 100MW green hydrogen plant, funded through concessional financing from Germany. The two countries launched a climate and development partnership in 2022 which helps Kenya develop a green hydrogen value chain to locally produce fertilizer. While KenGen will implement the plant, a fertiliser plant will be set up by the private sector.Green hydrogen, also called renewable hydrogen, is generated through electrolysis, using renewable energy. “Kenya, and Africa at large, has the potential not only to meet our own energy needs but to become a global hub for clean energy exports, industrial…
The Kenya Revenue Authority (KRA) narrowly missed its revenue target of KSh 2.189 Trillion after collecting KSh 2.112 Trillion as of 30th April, 2025. According to the taxman, the miss in target was influenced by various economic indicators that directly drive revenue collection, including the slowdown in private sector activity that saw subdued demand.Revenue collection registered a growth of 6.1%, reflecting an upward trajectory in collection compared to Kshs 1.990 Trillion realized in the same period during the previous financial year.Despite a stronger shilling, the value of imports declined, particularly oil which dropped by 10.2%, while export earnings also shrank…
Majority of unclaimed assets rest with Kenya’s banking sector at KSh 3.3 billion in 2024, a slight decrease from KSh 3.4 billion held by the institutions a year earlier, the latest Economic Survey by the Kenya National Bureau of Statistics (KNBS) shows. The value of unclaimed assets held by banking institution had grown from KSh 1.9 billion in 2020, KSh 2.6 billion in 2021, and KSh 2.5 billion in 2022.The information and communication sector accounted for KSh 778 million of the total unclaimed assets in 2024.In total, the number of claimants increased by 15.4%, to 7400, but the value of…
Land prices in Nairobi suburbs remained unchanged in the first quarter of 2025 compared to the previous quarter, as property sale prices in the areas contracted for a fifth straight quarter, the latest Hass Consult Indices show. On the contrary, prices of land in satellite towns rose at a higher pace of 2.4% in Q1 2025 compared to 1.9% in the previous quarter. Hass Consult links the consistency in surbubs land prices to areas such as Karen, Gigiri and Spring Valley joining apartment development hotpots.16 of the 18 city suburbs posted positive price movement, led by Spring Valley at 3.7 percent, followed by Karen and Upperhill at 2.9 percent…
Employment in the agriculture sector is expected to rise in the second quarter of 2025, while CEOs from other sectors do not have plans to hire in the same period, the latest CEO’s Survey by the Central Bank of Kenya shows. Favourable long rains currently being experienced across the country are expected to lift activities in the agriculture sector leading to an increase in demand for labour.The demand for more employees is however, expected to remain largely unchanged as C-Suite executives adopt a wait-and-see approach.Respondents expressed concerns around cashflow challenges from elevated lending rates, pending bills resulting from delayed government payments and…
Newly-appointed Health Cabinet Secretary Aden Duale has appointed former Chief Administrative Officer (CAS) Dr. Mercy M. Mwangangi as the new Chief Executive Officer of Social Health Authority (SHA). Mwangangi served under President Uhuru Kenyatta’s government as the CAS in the Health Ministry.Social Health Authority replaced the National Health Insurance Fund (NHIF) in October 2024, and has faced alot of backlash from the public on implementation of the new health scheme.Key among concerns Mwangangi will be dealing with include poor service delivery, poor communication, inadequate funding, unclear implementation frameworks, and the strained relationship between citizens and the healthcare system. Mwangangi is currently…
Insurance is the least adjacent financial service offered by Mobile money Providers (MMPs) after credit and savings, even though it grew last year to 28% compared to 19% in 2023, a new GSMA report reveals. As of June 2024, 44% of survey respondents offered credit services to their customers.Savings is the second-most offered adjacent financial service with a third of respondents offering the service.Demand-side data from the 2023 and 2024 GSMA Consumer Surveys shows that the percentage of customers using mobile money to pay for insurance products has grown in several countries. “As part of efforts to offer a holistic service…
Eighteen people have been arrested in Nairobi in a crackdown on a ‘cargo dumping’ tax evasion scheme where goods destined to Democratic Republic of Congo (DRC) were diverted to Eastleigh. Investigations revealed that transit truck drivers alter vehicle registration plates mid-journey within the country and tamper with the electronic seals which enable real-time monitoring.This distorts the truck’s identity to conceal the diversion of the goods and stay off the monitoring teams at the KRA’s Central Command & Control and Rapid Response Units (RRU) radar.According to the KRA, the consignsee in this particular case -Kandama Kasongo Franchoise has over time imported…
Kenya’s risks losing much needed revenue and community development due to illegal mining with Taita Taveta County alone having 158 companies operating without licenses, a review of mining records submitted to the Auditor-General’s office reveals. The records showed that the county had 161 mining sites located in 4 sub-counties registered between 1997 and 2020, but only there was only evidence that three had mining licenses.The records did not show the quantities of minerals generated and revenues paid to the Taita County Executive on the mining and mineral related activities.Kenya’s laws state that applicants for mining licenses must submit site plans,…
Parliament is considering a bill that seeks to streamline gold business in Kenya, and includes a proposal to establish gold processing corporation to oversee the industry. The corporation will be funded by money appropriated by National Assembly, fees for services it renders, gifts, grants or donations and monies from other lawful sources.According to the Gold Processing Bill, the corporation will regulate national standards for operating a gold refinery, undertake research on gold processing and facilitate accreditation for a laboratory that analyses, tests and grades the properties of gold.Lawmakers note that the Gold Processing Bill also seeks to combat illegal mining…
The Kenya Railway Corporation will kick off a feasibility study for the rehabilitation and expansion of Nairobi Commuter Rail Network under the World Bank-supported Kenya Urban Mobility Improvement Project (KUMIP) in April. The project seeks to expand the rail network from 35 to 53 operational stations with key transit hubs and supporting infrastructure to encourage public transport usage.The Nairobi Commuter Rail (NCR) Network has a network coverage of 165km but has aging facilities and infrastructure inadequacies.The feasibility study and preparation phase for KUMIP is expected to take 24 months from April 2025. Last month, Kenya Railway’s Project Team Leader, John Maina said that the first phase will target the…
Kenya needs effective trade within the country and across borders for the growing demand for animal feed to be affordable at reasonable prices. According to the Competition Authority of Kenya (CAK), Kenyan animal feed prices have been much higher than they would be under effective competition.County governments impose Agriculture Produce cess, Market cess or Landing Fees, and other taxes such as cess charges for branded vehicles.In cases where there are no mutual recognition agreements between counties, manufacturers face double taxation. “The cost of sourcing feed inputs and supplying various counties with the finished animal feed product is inequitable, significantly impacting the transportation and distribution…
Mumias Sugar has issued Ksh150 million bonus to cane farmers as leaders from the region challenged the government to fast-tract reforms in the entire industry to save Kenya from using foreign currency to import the sweetener. Mumias Sugar, which resumed full operations a year ago, had been dogged by numerous court cases filed by West Kenya Sugar Company Chairman Jaswant Singh Rai blocking the lease of Mumias Sugar to his brother Sarbi Singh Rai of Sarrai Group.Some of the recent reforms include the Sugar Act 2022, a law enabling the re-establishment of the Kenya Sugar Board, the creation of the Kenya Sugar…
The United States of America has sanctioned General Abdel Fattah Al-Burhan, the leader of Sudanese Armed Forces (SAF), for committing lethal attacks on civilians in the country. The action which comes days after US issued similar sanctions on the leader of the Rapid Support Forces (RSF) Mohamed Hamdan Dagalo (Hemedti), Gen. Burhan’s nemesis in the long-running conflict.Washington also sanctioned a Sudanese-Ukrainian national, Ahmad Abdallah, and a Hong Kong-based company called Portex which he controls.It accused Abdallah, who serves as COO of Portex, of coordinating the acquisition of Iranian made UAVs from an Azerbaijani defence company for shipment to Sudan. “The SAF’s…
Makini School’s owner ADvTECH has concluded a $7.5 million agreement to acquire 100% interest in Ethiopia’s Flipper International School. Flipper International School operates five campuses located in Beklobet, in central Addis Ababa, and Summit, in the eastern part of the city.It was founded in 1998 by Menna Selamu Bekele and Serkaddis Seifu Yeteshawork.The acquisition will add to ADvTECH’s international portfolio five more schools and approximately 3000 students. “As Addis Ababa experiences rapid urbanization, the demand for high-quality education has grown significantly, presenting ADvTECH with an ideal opportunity to diversify its portfolio and expand into a promising new market,” ADvTECH CEO…
Satellite data subscription grew by 1,955.3% after the licensing and launch of Starlink Internet Services Kenya in July 2023, a new report by the Communications Authority (CA) shows. Starlink, operated by American aerospace company SpaceX and owned by Elon Musk announced entry into the Kenyan market mid-last year.It offers a satellite internet service that uses a constellation of low Earth orbit (LEO) satellites.Starlink now has a 0.5% market share in fixed data subscriptions. Unlike traditional satellite internet, Starlink provides high-speed, low latency connectivity, supporting services not possible with traditional satellite technology. According to the fourth quarter industry statistics by the…
Majority of small holder farmers are missing out on credit to expand their farms as many are stuck in the traditional ways of storing their harvest. A new study by the Financial Sector Deepening (FSD) and AGRA finds out that 94 per cent of Kenya’s small holder farmers prefer storing produce on their farm, 9 per cent prefer using private warehouses and 6 per cent prefer public warehouses.Access to quality storage facilities remain a challenge to majority of them denying many opportunities to access formal credit through the Warehouse Financing Receipt (WFR) model.The survey underscores need to include an aggregation…
The cost of fertiliser is still beyond the reach of many farmers across the country posing the risk of low-quality produce, despite efforts by the government to introduce subsidized fertilisers, according to The latest Agriculture Survey by the Central Bank of Kenya (CBK). The survey found that farmers face several barriers in accessing farm inputs, but the most severe is the high costs – especially in relation to fertilizer, seeds, and pesticides.More than 90 percent of the sampled farmers cited the high cost of farm inputs was cited by as a binding constraint to accessing farm inputs.Other challenges include lack…
Last week, President William Ruto nominated opposition MP John Mbadi to replace Prof. Njuguna Ndungu as the Cabinet Secretary of National Treasury, at a time when the ministry has been under siege. The seasoned politician holds a Masters of Business Administration from the University of Nairobi and is currently serving as a nominated member of parliament. He served as Member of Parliament between 2008-2022, once served as leader of minority, and was an assistant minister between 2012-2013Before he joined politics, Mbadi worked as a senior accountant and full accountant at University of Nairobi between 1999-2005 and Finance Director at Medair East Africa. Among…
The Capital Markets Authority (CMA) has approved the registration of Arvocap Unit Trust Scheme pursuant to the capital markets act and the collective investment schemes Regulations, 2001. The collective investment scheme comprises 10 sub-funds including Money Market Fund, Ngao Fixed Income Distribution Fund, Almasi Fixed Income Accumulation Fund, Eurofix Fixed Income Special Fund (USD), Thamani Equity Fund, Africa Equity Special Fund, Global Equity Special Fund, Multi-Asset Strategy Special Fund (USD), Global Sharia Equity Special Fund (USD) and Mabruk Sharia Special Fund (KES). “Collective investment schemes are significant vehicles through which retail investors can easily participate in the capital markets, noting…
Prices of onions are expected to remain elevated in the month of April despite an increase in supply harvesting which peaked in March. According to the Kenya National Bureau of Statistics (KNBS), the average price of one kilogram of onion in March last year was KSh 101.10 compared to KSh 167.28 in March 2024 and KSh 150.63 in February this year.In the agriculture sector survey commissioned by the Central Bank of Kenya in March, 60 per cent of respondents expected an increase in onion prices compared to 70 per cent of respondents sampled in February 2024 survey.The moderation in expected…
Tala Money March report, a research conducted among consumers to understand the impact of cost of living and how credit is helping them, shows that Kenyans could be borrowing to repay their debts pointing to the extent hard economic times has pushed many to the wall. Almost 6 in every 10 consumers use more than one digital lender, maybe borrowing from one lender to pay another lender, alternatingly, while reducing their loan amount.The loans are directed to business needs, medical expenses and to pay for basics like rent. Loans taken for payment of utility bills is majorly by those in full-time…
Before dust settles on the debate about the safety of short-stay accommodation sector in Kenya, Airbnb has enforced a new rule banning use of indoor security cameras in listings across the world. Hosts violating the new rule after end of April will face consequences which include listing or account removal.Devices like doorbell cameras and noise decibel monitors continue to be permitted on Airbnb.Banning the use of indoor security cameras is part of efforts to simplify policy on security cameras and other devices, and to continue to prioritize the privacy of its community. “Our goal was to create new, clear rules…
Amazon Web Services has announced five generative artificial intelligence (AI) innovations, so organizations of all sizes can build new generative AI applications, enhance employee productivity, and transform their businesses. The announcement includes the general availability of Amazon Bedrock, a fully managed service that makes foundation models (FMs) from leading AI companies available through a single application programming interface (API). To give customers an even greater choice of FMs, AWS also announced that Amazon Titan Embeddings model is generally available and that Llama 2 will be available as a new model on Amazon Bedrock–making it the first fully managed service to…