Surge in Import Traffic Mombasa Port has seen a 6.5% rise in import traffic, reaching 28,445 thousand metric tonnes to mid 2024, up from 26,713 thousand metric tonnes in mid 2023. This surge has prompted key agencies to enhance the pre-arrival clearance process, expediting cargo handling. Pre-arrival Processing The Kenya Revenue Authority, Kenya Ports Authority,…
China’s electric vehicle (EV) manufacturer, Neta, has officially entered the Kenyan market. This move marks a significant step in the expansion of Neta’s global footprint and underscores the growing importance of Africa as a market for EVs. The entry of Neta into Kenya is expected to stimulate competition and offer Kenyan consumers more choices in…
The Kenyan shilling has made significant gains against the US dollar this year, appreciating by 17.8% from January to June. This growth reflects a combination of favorable market conditions, increased foreign exchange inflows, and investor confidence. Weekly Performance and Key Drivers In the past week, the shilling strengthened by 1.06%, closing at 128.66 from the…
Value Added Tax (VAT) is a form of indirect tax levied on the consumption of goods and services. It’s a major source of revenue for governments around the world, including Kenya. In this article, we’ll delve into the intricacies of VAT, covering its purpose, how it operates, and its impact on businesses and consumers. Purpose…
The Kenya Shilling (KES) is key to Kenya’s economy. It’s the main currency for all transactions within the country. Knowing what affects its performance is crucial for traders, investors, businesses, and policymakers. This article explores the factors influencing the Kenya Shilling and its recent trends as of May 2024. Kenya has one of Africa’s largest…
Mitsumi Distribution’s Big Move to Boost AI in Kenya’s Healthcare Industry is something to take note of. Mitsumi Distribution is a major player in IT, telecoms, and enterprise distribution across Africa and the Middle East, is leading the charge in making the region fully AI-capable. In a groundbreaking move aimed at expanding AI adoption across…
The Nairobi Securities Exchange (NSE) saw a remarkable increase in its market capitalization, reaching KSh 1,766.95 billion by the end of Q1 2024. This surge marked a 22.79 percent rise from KSh 1,439.02 billion in Q4 2023. The Capital Markets Authority (CMA) attributes this growth to intensified trading activities, evident in the NSE’s equity turnover…
In April, the cost of living, also known as inflation, went down from 5.7% in March to 5.0%, according to new data from the Kenya National Bureau of Statistics (KNBS). The food and non-alcoholic beverages index, which has the most impact, went down by 0.1% from March to April. Prices for sugar, loose maize grain,…
