Author: David Indeje

Kenya’s central bank, the Central Bank of Kenya (CBK), opted to maintain its benchmark lending rate at 13.0% on Wednesday. The Monetary Policy Committee (MPC), decision comes despite some positive economic indicators, such as stable inflation and exchange rates. “The Monetary Policy Committee (MPC) concluded that the current monetary policy stance will ensure that overall inflation remains stable around the mid-point of the target range in the near term while ensuring continued stability in the exchange rate,” the central bank said in an emailed statement. This means loan interest rates for Kenyans are likely to remain high for the foreseeable future.…

The internet plays a vital role in our lives, and Kenya is committed to shaping a digital future that benefits everyone. The Kenya Internet Governance Forum (KeIGF) is a chance for different stakeholders to be part of the conversation. What is the KeIGF? The KeIGF is an annual event convened by KICTANet, a multistakeholder platform for people and institutions interested in ICT policy. The network’s guiding philosophy is that of encouraging synergies for ICT policy-related activities and initiatives. KeIGF is a multistakeholder forum, meaning it brings together people from all sectors – government, businesses, civil society, and technical experts –…

Standard Chartered Bank Kenya has finally launched its mobile lending service, the SC Juza app, after overcoming initial hurdles. During the trial phase, SC Juza encountered issues such as data privacy concerns, which caused a delay in its full rollout. However, the bank has addressed these concerns and secured approval from the Central Bank of Kenya (CBK) to proceed. SC Juza Aims to Compete in Kenya’s Mobile Lending Market With SC Juza, Standard Chartered directly enters the competitive Kenyan mobile lending market, currently dominated by established players like Absa Kenya’s Timiza, KCB M-PESA, and NCBA’s M-Shwari. This move highlights the…

Kenya is committing US$100 million to increase its ownership stake in three key African financial institutions: the African Development Bank (AfDB), the African Export-Import Bank (Afreximbank), and the Trade and Development Bank (TDB). This investment will be spread out over the next three years. President ⁦@WilliamsRuto⁩ of Kenya announced $20 million support by Kenya to the African Development Fund. This marks the largest contribution by an African country to the Fund. Thank you very much my dear friend and brother, Mr. President! ⁦@AfDB_Group⁩ pic.twitter.com/CSCav4TZlk — Akinwumi A. Adesina (@akin_adesina) June 2, 2024 Kenya has been a significant beneficiary of AfDB…

Kenya’s tourism industry boomed in 2023, with international arrivals reaching a record-breaking 2.09 million. This represents a 35.4% increase compared to 2022 of 1.54 million. Earnings from tourism surged 32% to KES 352.5 billion ($2.7 billion) last year according to the Tourism Research Institute’ Sixth Edition of its Annual Tourism Sector Performance Report. Factors Driving Growth This performance was supported by key developments in the aviation sector that witnessed increased air connectivity playing a key role. During the year, three airlines launched direct flights: IndiGo (Mumbai-Nairobi), Fly Dubai (Dubai-Mombasa), and Airlink (Johannesburg-Nairobi). In addition, Kenya hosted prestigious events like the Africa…

Bata Kenya, a leading footwear retailer, reopened its Kimathi Street store, a key step in its ambitious makeover and expansion strategy. The reopening was graced by Bata Kenya Managing Director Mr. Benson Okumu, and Mr. Stephen Gitagama, CEO of Nation Media Group (NMG). Mr. Okumu highlighted the crucial role NMG has played in enhancing Bata’s brand visibility and supporting its growth in Kenya. “Bata’s dedication to innovation and enhancing customer experience is truly commendable…Our partnership has been incredibly rewarding…,” Mr Steve Gitagama, CEO, of Nation Media Group noted. Commitment to Innovation and Customer Experience The revamped Kimathi Street store reflects…