Editor's Picks: Top Stories Today
Kenyans cut vehicle imports by Sh22bn on taxes
Kenyans cut spending on vehicle imports by nearly 20% due to higher taxes, a weakened shilling, and a shortage of used units. Recent data reveals a decline from $825 million to $680 million in vehicle imports over the past 10 months through October, signaling a revenue shortfall for the taxman. — Read More
Kenya Airways cancels flights on crew shortage
National carrier Kenya Airways faces a cabin crew shortage that has forced it to cancel and delay flights, threatening its revenues over the peak festive season. — Read More
Kenya shilling’s free fall slows down on rising dollar inflows
The shilling's depreciation against the dollar has hit its lowest rate this year, with a reduced average loss of three cents in December, contrasting with the higher daily averages of 12 cents in November and 13 cents in October, reflecting decreased demand and increased dollar supply, as per Central Bank of Kenya (CBK) data. — Read More
Irony of a weak shilling and declining export earnings
Kenya's declining export earnings, despite a weakened currency, reveal underlying economic weaknesses and a loss of competitiveness, posing a threat to job creation, as Central Bank of Kenya (CBK) data indicates a two percent drop in export income to $7.29 billion (Sh1.12 trillion) in the 12 months to October 2023. — Read More
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Kenya pawn in China’s supremacy agenda - US
An official report to the US Congress claims China has abused its economic influence over Kenya to drive its expansionist agenda, including pushing for the ultimate annexation of Taiwan as part of its One-China policy. — Read More
Middle class turn to salary advances as economy bites
Commercial banks have registered a surge in the number of customers tapping salary advances, pointing to the economic fallout that has pushed more Kenyans to expensive short-term payday loans for survival. — Read More
World Bank lines up Sh23 billion funding for small firms in Kenya
About 45,000 Kenyans are in line to benefit from new jobs in a Sh23 billion financing project for micro, small, and medium enterprises (MSMEs). — Read More