- Kenya Power has directed customers of its prepaid power plan to update their meters, commonly known as token meters, by August to continue accessing electricity.
- Developing economies are projected to show a slight growth this year than they did before the onset of the COVID-19 pandemic, the latest report by the World Bank states.
- After an unusually long wait, the country has reached a staff level agreement with the IMF, finally unlocking the disbursement of USD 976 million, or roughly Ksh.126.2 billion.
- The legal team that voided Elon Musk's record Tesla pay package deserves a tiny fraction of the $5.6 billion (Ksh.732.6 billion) legal fee they requested because their lawsuit provided almost no benefit for the company, the electric automaker argued in court papers on Friday.
- At least 200 youthful entrepreneurs taking part in the Jiinue Growth Program (JGP) were taken through specialised business training on the sidelines of the first day of the inaugural Eldoret Business Summit 2024.
- Digital taxi-hailing companies have warned that the six per cent Significant Economic Presence (SEP) tax proposed in the 2024 Finance Bill will adversely affect customers if the bill is passed.
- Digital taxi-hailing companies Uber and Bolt are warning that they could exit the Kenyan market over high operating costs due to a new tax proposal if the 2024 Finance Bill is passed.
- A safety test scandal at Japanese automakers widened on Monday, with Toyota Motor and Mazda both halting shipments of some vehicles after Japan's transport ministry found irregularities in applications to certify certain models.
- KBA Acting CEO Raimond Molenje has spoken on the negative impacts of increasing tax rates on financial transactions as proposed in Finance Bill, 2024.
- The South African rand fell on Tuesday as uncertainty around possible coalition partners persisted, a week after an election which saw the African National Congress lose its parliamentary majority for the first time in 30 years.
- The furniture, woodwork, interior design and finishing industries are set to undergo a significant metamorphosis in line with the fast-paced digital era thanks to Fintex East Africa.
- Murang’a County Government Governor Irungu Kang’ata has reiterated the need to pursue a manufacturing and industrialisation economic agenda at the national and county levels to foster accelerated development.
- Boeing executives are unlikely to be criminally charged over fatal crashes in 2018 and 2019 that killed 346 people as the statute of limitations has likely passed, U.S. Justice Department officials told victims' family members in a meeting.
- President William Ruto has directed that the cost of sexed semen be slashed from Ksh.8,000 to under Ksh.3,000 in a move aimed at empowering dairy farmers to boost milk production.
- On this day, she has guests from the World Bank and scientists from the ‘Accelerating Impacts of CGIAR Climate Research for Africa’ (AICCRA) project. A team of agro-ecologists, gene-bank experts, seed breeders, and economists joins over two hundred farmers at her farm.
- The World Bank on Thursday approved the first of three budget support packages for Kenya worth $1.2 billion (Ksh.156 billion), to help the country address short-term fiscal pressures and accelerate green policies.
- President William Ruto has committed Kenya to a USD 100 million investment over the next three years in the continent's multilateral financial institutions.
- Dr Kamau Thugge, the Governor of the Central Bank of Kenya, has been named the African Central Bank Governor of the Year by the African Banker Magazine.
- Stakeholders, experts, development actors, and research institutes gathered in Nairobi on the margins of the 2024 African Development Bank Annual Meetings to discuss innovative credit rating solutions aimed at empowering governments to access critical financing for development initiatives.
- Barely a week after Kenya Power called for some radical reforms to streamline scrap metal business in the country, players in the sector have come out guns blazing to defend their turf.
- EABL is warning of massive job losses in the alcoholic beverage value chain if the government pushes through with its intention to increase taxes on the industry in the coming financial year.
- Deputy President Rigathi Gachagua now says that Kenya is committed to the use of renewable energy in line with global efforts to combat climate change.
- The Kenya Bankers Association (KBA) now says the government could lose up to 10 percent of its tax revenue that comes from the sector, which is an equivalent of 180 billion shillings of its revenue if the Finance Bill 2024 sails through.
- The one-year transition period for Corporate Trustees to register with the Retirement Benefits Authority (RBA), as stipulated in Legal Notice No. 103 of 21st July 2023, is nearing its end on 21st July 2024.
- Kenya has developed a Quality Policy to guide local enterprises into entrenching sustainable quality improvement practices in order to enhance their competitiveness at overseas markets.
- The Kenya National Chamber of Commerce and Industry (KNCCI) has raised concerns over the proposed imposition of a Ksh.2 million penalty for non-compliance with the Electronic Tax Invoice Management System (eTIMS) as outlined in the proposed Finance Bill 2024.
- The Kenya Bankers Association is calling on the Government and the National Assembly to reconsider the proposed 16% Value Added Tax on financial transactions in the Finance Bill 2024.
- Exchange-traded funds offer a budget-friendly option to access a diverse range of securities. Investors have the flexibility to construct a portfolio that includes a variety of ETFs or focuses solely on them.
- Meta Platforms' social media sites Facebook and Instagram will be investigated for potential breaches of EU online content rules relating to child safety, EU regulators said on Thursday, a move that could lead to hefty fines.
- DIB Bank Kenya (DIBBK), a wholly owned subsidiary of Dubai Islamic Bank PJSC (the largest Islamic bank in the UAE), announced its results for the period ending March 31, 2024.
- The China-Kenya Tea Trade Centre was officially launched on Wednesday in Shanghai in a move seeking to boost bilateral trade and strengthen the tea industries of both nations.
- Digital credit providers have raised concerns over the increasing indebtedness in the country, which has been occasioned by the harsh economic times.
- It may take nearly a month to fix the submarine cable damaged over the weekend, causing internet outage across Kenya and other East African countries.
