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,…
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…
Its hard to believe there was a time before everyone had smartphones in Africa? Back then, if you weren’t using cash or trading goods, you were probably relying on postal services for transactions. But now, with the rise of mobile technology, things have changed dramatically, especially in finance. Artificial Intelligence (AI) is the new player…
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…
In Kenya, banks are vital institutions that provide a wide range of financial services to individuals and businesses. A bank essentially acts as a financial intermediary, accepting deposits from customers and providing loans while offering various other services like currency exchange, safe deposit boxes, and investment opportunities. There are different types of banks. Here are…
Kenya has secured the honor of hosting the 2024 Transform Africa Summit (TAS), organized by the Smart Africa Alliance. Scheduled from August 28-30, this summit is set to become a key event in Africa’s technology landscape. The Transform Africa Summit is an annual gathering convened by the Smart Africa Alliance, bringing together over 5,000 delegates….
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…
