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,…
KCB struck a significant deal with the Bill & Melinda Gates Foundation and the European Investment Bank, securing €30 million (approximately Sh4.2 billion) in funding aimed at supporting women entrepreneurs and startups in Kenya. The funds are earmarked for dispersal through KCB’s Female-Led and Made Enterprises (FLME) initiative and the KCB Foundation’s 2jiajiri program. FLME,…
Despite a projected surge in demand for short-term loans, high lending rates are poised to put a brake on credit growth within the private sector, according to a recent survey conducted by the Central Bank of Kenya (CBK). In a nutshell, the growth rate of commercial bank lending to the private sector eased to 10.3%…
Many nations are preparing for Africa Tech Summit (ATS) eighth edition that will be held in London on June 7th, 2024, at the London Stock Exchange. This event brings together over 300 tech leaders, investors, entrepreneurs, and policymakers from Africa and around the world to talk about the future of tech and innovation on the…
At the latest Government Securities Auction, Treasury Bills saw a tiny drop in the interest rates offered by the Central Bank of Kenya (CBK). This is the first time we’ve seen this happen in 24 months! CBK got bids totaling KSh 28.5 billion at the Weekly T-Bills auction. That’s against KSh 24 billion offered at…
Great news for Kenyan flower farmer as The United Kingdom has decided to suspend export tariffs for cut flowers, giving a big boost to Kenya’s flower sub-sector. This move aims to make trade easier and cheaper for growers in East Africa and beyond. As of today April 2024, unlimited quantities of flowers can be exported…
The Central Bank of Kenya (CBK) decided not to raise loan costs, keeping them steady after the Monetary Policy Committee (MPC) meeting on Wednesday3rd April 2024. This move aims to help borrowers manage their finances better. CBK mentioned that their current approach to monetary policy has helped control inflation caused by excess money circulation. However,…
