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ECONOMY

Kenya is the biggest economy in East Africa and most watched in sub-Saharan Africa, being the regional business hub. BT brings you comprehensive coverage of the various economic sectors.

Motorists Banned from CBD as Kisumu Ramps Up Non-Motorized Transport

County enforcement Officials in Kisumu on Tuesday, February 23 implemented a ban on all motorised transport in the Central Business District (CBD) under the Sh241 million non-motorised transport (NMT) project in the county. Hundreds of drivers, boda boda operators and tuk-tuks were ejected from the CBD as the county executed the city’s beautification project. 

Kenya’s Tourism Sector Doomed Until 2024 – Balala

Upon the announcement of a Covid-19 Vaccine in November 2020, Balala had expressed hope that the tourism sector would immensely recover by July 2021 and restore international confidence in the country as a tourist destination.

EAC Partner States Delay Kenya-UK Trade Deal

The move by EAC states is exposing tensions over the move between Kenya and its East Africa Community (EAC) partners. Through the trade agreement, the government of Kenya is targeting to establish value addition for Kenyan agriculture products and in the process promote industrial development in Kenya. The Kenya-UK trade deal agreement was signed in December 2020 in London. The trade deal will enable Kenyan companies exporting flowers, fresh vegetables to access the UK market under a duty-free, quota-free arrangement.

Absa, World Vision Team Up To Enhance Food Security in Kitui

The bank donated Ksh 4 million to farmers in Yatta village, through the Kitui County Government under its food security enhancement programme. The program seeks to address the effects of perennial drought on the residents of Kitui.

Visa’s One-Stop Entrepreneur Platform Expanded to Empower Small Businesses

The one-stop entrepreneur education website created by Visa comes in the midst of the current economic crisis that has impacted millions of SMBs locally, providing tools for SMB-owners to aid in keeping their businesses afloat and to identify opportunities for potential growth amidst the situation.

NHIF: All Households to Fork Out Ksh6,000 for Mandatory New Cover

The ObamaCare model it borrows from has been a thorny issue in the United States, facing criticism from many leaders even as others praise it for supporting the nation's most vulnerable to access quality healthcare. Its adjustment, replacement or abolishment was an important campaign issue for all candidates in the 2020 US Presidential Election

Airlines, Hotels Biggest Losers as International Arrivals Drop 71.5%

Most affected were players in the tourism, travel and hospitality industries who lost out on billions of shillings in revenue. Widespread job cuts, wage cuts and business closures were witnessed across the sector. Like in many other industries, however, stakeholders are banking on the global distribution of Covid-19 vaccines to turn things around in 2021.

Africa’s Best Online Shopping Destinations: Kenya Falls 4 Places in UNCTAD...

Kenya was overtaken by Tunisia, Algeria, Ghana and Libya who occupied third, fourth, fifth and sixth positions respectively on the index. Africa's largest B2C ecommerce market, Nigeria, also dropped to eighth from third.

Safaricom, EABL & BAT: Why Investors Are Snapping up These 3...

The Capital Markets Authority (CMA) has previously flagged as a big risk the dominance of five companies at the bourse, including Safaricom, as a big risk due to their influence on key market indicators. The performance of a handful of firms essentially determines the performance of the market, creating a problem for investors looking to measure the true performance of the bourse.

Women-led SMEs the Big Winners in DTB’s Ksh1.6B Economic Recovery Programme

George Otiende noted that DTB expected to advance the bulk of the funding, KSh1.2 billion, by June 2021. This would be in addition to other measures taken to help businesses get back on their feet by replenishing their working capital, aiding the acquisition of business assets, and recovery from the impact of the Covid-19 pandemic.