Kenya’s purchasing managers’ index (PMI) for private sector activity rose to a 3-month high of 51.6 in December from 50.9 in November 2022. According to the Stanbic Bank Kenya PMI business activity index, output increased for the second month in a row, owing to higher demand, better weather, and softer price pressures. A reading above 50 on the index shows expansion, and below it indicates contraction. Mulalo Madula, an economist at Standard Bank, said the December survey results paint a positive picture for the Kenyan economy, in line with the series average. “It comes as no surprise to see activity…
Author: David Indeje
David Indeje
David Indeje is the Community Engagement Editor at Khusoko, East Africa’s leading digital business news platform. He shapes editorial content, drives audience engagement, and amplifies diverse voices. Beyond journalism, he consults on digital strategy across agriculture, governance, technology, and health, while examining AI’s role in the future of media. He also serves as Communications Officer at KICTANet, advancing digital inclusion and policy dialogue.
Year-on-year inflation in Kenya declined to 9.1% in December 2022 from 9.5% recorded the previous month, the statistics office said. The Kenya National Bureau of Statistics attributed the easing to lower food and fuel prices, but the inflation rate remained above the government’s target range of 2.5% – 7.5%. The country’s average inflation rate for 2022 stood at 7.6%, 1.5% points higher than the average inflation rate of 6.1% recorded in 2021, according to Cytonn Investments. The relatively high inflation can be attributed to the increase in prices of major commodity indices, with the food and non-alcoholic index and transport…
The funds will assist Kenya in covering external financing needs resulting from drought and challenging global financing conditions.
Despite Kenya’s steady remittance inflows and the recovery in tourism, the current account deficit increased as surging commodity prices pushed imports to an all-time high.
Centum becomes the second company in the Nairobi Securities Exchange (NSE) to undertake a share repurchase program, after Nation Media Group (NMG).
Kenya’s November inflation eased to 9.50%, down from a five-year high of 9.60% in October 2022, on reduced prices of food and non-alcoholic beverages. Data from the Kenya National Bureau of Statistics (KNBS) shows that the annual food inflation stood at 15.40%, down 40 basis points from 15.80% in October. “The overall year-on-year inflation rate as measured by the Consumer Price Index (CPI) was 9.5 percent in November 2022. The rise in inflation was largely due to the increases in prices of commodities under food and non-alcoholic beverages (15.4%); transport (11.7%), and housing, water, electricity, gas and other fuels (6.1%)…