The African Development Bank (AfDB) endorses Energy Cabinet Secretary Davis Chirchir’s plea to the parliament, urging the lifting of a moratorium preventing Kenya Power from entering into new agreements with independent power producers (IPPs). AfDB emphasizes the critical need for Kenya Power to swiftly engage new independent power producers (IPPs) to counteract the decline in…
Amidst a backdrop of intricate market dynamics, fuel prices in Kenya are poised to witness a substantial retreat, marking the most significant decrease since October 2021. Commencing at the stroke of midnight on Thursday, consumers are set to experience a noteworthy relief, with prices plummeting by up to Ksh5 per litre. In the bustling urban…
In a groundbreaking move, the Nairobi Coffee Exchange (NCE) is set to undergo a transformative shift under the watchful eye of the Capital Markets Authority (CMA), heralding the emergence of The Coffee Exchange. Kenya’s Ambitious Coffee Reforms Unveiled Kenya’s ambitious coffee reforms are in full swing, marked by the comprehensive implementation of the Capital Markets…
In November 2023, the overall inflation rates demonstrated stability, primarily bolstered by a decline in the prices of crucial food items. Despite a slight uptick to 6.9 percent from 6.8 percent in October, this stability was maintained. Notably, there was a marginal decrease in food inflation, resting at 7.8 percent in October compared to 7.9…
The Central Bank of Kenya (CBK) has recently issued a stern warning to unlicensed entities and individuals offering money remittance and payment services. This comes as a response to the growing number of unauthorized service providers operating outside the parameters set by the National Payment System Act of 2011 and the Money Remittance Regulations of…
Kenya’s stock market recently experienced a significant downturn, ranking as the worst-performing globally. As of November 10, 2023, the Nairobi Securities Exchange 20-share index plummeted to 1420 from 1509 on September 29, 2023—a substantial 6% decline in just six weeks. This decline is alarming, considering the market had previously surpassed the 5000 mark in better…
In November 2023, Kenya’s private sector found itself grappling with substantial inflationary pressures, as indicated by the Stanbic Purchasing Managers’ Index (PMI). These pressures stemmed primarily from the relentless surge in fuel prices and the persisting fragility of the local currency. The report underscored that input costs soared at an unprecedented pace, marking the most…
The investment landscape in Kenya is currently grappling with significant hurdles as a result of prevailing macroeconomic conditions. These conditions have raised apprehension across various investment sectors. This article sheds light on the pivotal macroeconomic factors that are shaping the investment environment within the country. Kenyan Currency Depreciation and Inflation Over the preceding year, the…
