Author: David Indeje

A new report by PwC reveals cautious optimism among Kenyan chief executives regarding the global economy.  While 58% acknowledge inflation as a significant threat, most (56%) express confidence in their companies’ revenue growth over the next three years. This mirrors a global trend, with 54% of CEOs worldwide anticipating improvement or stability in the global economy within the same timeframe. Innovation Drives Growth The report, Navigating growth prospects with cautious optimism” highlights the power of innovation, with 60% of Kenyan CEOs attributing 20% of their 2023 sales to new products or services launched in the past three years. Adapting to…

The February Stanbic Group Purchasing Manager’s Index (PMI) indicates the first positive growth in  Kenya’s private sector in six months.  The PMI climbed to 51.3 from 49.8 in January, exceeding the 50-point growth threshold for the first time since August 2023. “There was a notable expansion in private sector activity in February, with output increasing in agriculture, manufacturing, and services. However, construction, wholesale and retail activity slipped. Firms noted improved consumer demand as assisting higher output and new orders,” Christopher Legilisho, an economist at Standard Bank, commented. “Increased new orders spurred inventory stocking, with some firms wanting to avoid product shortages…

Equity Bank customers can now instantly withdraw their funds received through PayPal, compared to the previous 24-hour waiting period. This improvement helps businesses and individuals manage cash flow more effectively and supports the growing trend of cross-border trade. “The reduced settlement period will support businesses and individuals in managing their cash flows better and more effectively,” Equity Bank Kenya Managing Director Gerald Warui said. The reduced settlement period will support businesses and individuals in managing their cash flows better and more effectively and support the growing trend of cross-border trade. Customers can make withdrawals through the Equity Mobile App and Equity Online. Customers must…

The Kenyan tea industry performed exceptionally well in 2023, with record-breaking production and export earnings.  According to the Kenya Tea Industry performance highlights, export earnings hit a record high of Sh180.57 billion in 2023, surpassing Sh138.09 billion in 2022 and Sh136.59 billion in 2021. The total marketed value was Sh196.97 billion, including Sh16.4 billion from domestic sales. Tea production hit a record high of 570 million kg, compared to 535 million kg in 2022 (a 6.58% increase).

The Kenya Association of Manufacturers (KAM) has launched the 2nd edition of Loop Forum Kenya, an event focused on driving the circular economy within the country.  The Loop forum provides a platform for collaboration, policy discussions, and showcasing innovative solutions that address environmental and social challenges. What is the Circular Economy? The circular economy aims to eliminate waste and pollution, keep products and materials in circulation, and regenerate natural systems.  It presents solutions to pressing issues like climate change and biodiversity loss while addressing social needs. Kenya’s Commitment to Green Growth During the 2023 African Climate Summit, President William Ruto…

The Kenyan High Court has lifted the injunction preventing the government from printing new digital identity cards, known as Maisha Cards. The court suspended the program in December 2023 due to concerns raised by the Katiba Institute regarding data security and public participation. In November 2023, the government launched a pilot program for new applicants and replacements, issuing the “Maisha Card” instead of traditional IDs. Following the court’s decision, the government will resume issuing new cards, prioritising processing existing applications (over 60,000). “All Kenyans turning 18 in any part of Kenya will be issued a Maisha Card on a trial…