Home ECONOMY

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.

Places Where Kenya Power Plans to Install Electric Car Charging Stations

Kenya Power, the loss-making state-owned power distributor, has been exploring new revenue streams in a bid to turn the ship around. Industrial consumers, who make some of its biggest clients, as well as homes are more than ever generating their own energy to avoid KPLC outages. 

Safaricom Launches App to Help Students Spend HELB Loans Responsibly

The service will be accessible via USSD or a mobile app, and is expected to serve a wide range of purposes. Notably, the solution is designed to promote responsible spending of student loans by locking in funds for specific allocations, such as tuition or library fees.

Britam Sends 138 Workers Home as Restructuring Begins

The firm, which recently appointed strategy expert Tavaziva Madzinga as CEO following the retirement of Benson Wairegi after 40 years at the firm, stated that the restructuring would be complete by May 2021. The new structure is designed to drive enhanced digital innovation in Britam's solutions and product development.

What Safaricom Would Look Like Broken Up as MPs Push to...

The bill seeks to amend Section 25 of the Kenya Information and Communications Act to require anyone operating a telecommunications service to “obtain the relevant licences from the respective regulators of any industry ventured into.”

Moi Men Take on The Govt in Battle for Kenya Seed...

Led by former CEO Nathaniel Tum, the private shareholders have summoned an annual shareholder meeting. They plan to appoint new directors and a new Chief Executive, and to declare dividends for the past six years. The government has insisted that the firm is a parastatal majority owned by the government, while private shareholders lay claim to 60% stake in the firm.

Mobile Loans: New Bill Changes Lenders’ Playbook

The ease of sending and receiving funds via mobile money in Kenya, as well as the country's relatively high internet penetration rate have contributed to their rise. These factors, combined with Kenya's youth unemployment rate (39% according to 2019 Census data) has created a monster that has left financial services regulators scratching their heads.

Milk Processing Plant Brings Life to Semi-Arid Region

The project is a partnership between the Government of New Zealand’s Ministry of Foreign Affairs and Trade, the county government of Kajiado and local cooperative societies. The milk plant is operated by the Emali Dedicated Children’s Agency (EDCA) under the Ksh100 million Agriculture, Dairy and Economic Development (ADED) project. It was commissioned in 2017 to economically empower vulnerable farming communities in the region. 

10,000 Kenyan Bartenders to Receive World Class Training at New Diageo...

With bars' operating hours in Kenya restricted due to Covid-19 restrictions, many bartenders have been engaged in other activities even as others grapple with unemployment and wage cuts. It is expected that the program will offer them an opportunity to use the time on their hands to upgrade their skills to world-class standards, placing them in a good position to bounce back from the shocks of the pandemic.

Tea Prices Drop as High Volumes Persist

A global oversupply of the beverage coupled with market disruptions from the Covid-19 pandemic has seen prices continue on a downward trend for a third consecutive year.

KRA’s Voluntary Tax Disclosure Program to Improve Revenue Collection

The VDTP provides a platform for a taxpayer to disclose tax liabilities that were previously undisclosed to the Commissioner for the purpose of being granted relief of penalties and interest arising from the tax disclosed.