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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.

NBK Signs Partnership To Cover Loan Defaults By SMEs

National Bank of Kenya (NBK) has partnered with African Guarantee Fund (AGF) to offer a partial guarantee in respect of defaults arising from loans to various private and public sector SMEs.

Kenya Airways Recruits New Pilots as Strike Enters Day 3

It remains to be seen how quickly Kenya Airways could potentially recruit and onboard new pilots, particularly in the face of a global pilot shortage and its own financial struggles. With the post-Covid bounce back in the aviation sector, demand for pilots is projected to outstrip supply in most regions globally between 2022 and 2024 — and continue to worsen over the next ten years.

SGR Contract: 9 Conditions China Set for Ksh437B Loan to Kenya

Murkomen shared with newsrooms the contract seen by Business Today. Questions, however, remain on whether Murkomen left out key parts of the deal. The documents failed to reveal any information on the collateral Kenya put up for the project - previously reported to be the Kenya Ports Authority (KPA) and its assets including the Port of Mombasa.

KQ to Lose Ksh2.1B Per Week as Pilots Strike

The national carrier made the disclosure in a statement issued hours after KALPA confirmed its decision to proceed with the strike from Saturday, November 5, citing their right to withdraw labour as enshrined in Article 41, Chapter 4, of the Constitution.

Nationwide Blackout: Businesses Suffer as Kenya Power Fails

Businesses were among the worst hit after a power outage hit most parts of Kenya on November 2, 2022. At the time of going to press, the ongoing blackout had lasted for close to four hours. Power outages were reported across counties including Nairobi, Machakos, Makueni, Mombasa, Nakuru, Kiambu and Busia.

Raising Questions: Aisha Jumwa’s 100-Day Pay Rise Promise for Civil Servants

"Civil servants are a demoralized lot, and we don’t want to see them suffering. They are unable to cope with the high cost of living occasioned by runaway inflation. As Kenya Kwanza government, we want to revamp their morale by increasing their salaries as soon as possible," the Cabinet Secretary stated.

Michael Joseph Hits Back as KQ Pilots Demand Resignations

He expressed hope of a positive outcome, noting that they were working to resolve the issue. Joseph further described some statements made by pilots calling for their axing as 'extremely painful and derogatory'.

One Million Jobs For Youths Up For Grabs In New KEPSA...

The program aims to support the growth of 200,000 small businesses while catalyzing the development of 10,000 start-ups through the creation of 47 County Business Hubs.

Uber Caves in After Drivers Strike, Cuts Its Commission

Drivers had decried the impact of the 25% commission on their earnings, in the context of the rising cost of living, with fuel and food prices at record highs, in addition to macro-economic pressures such as a weakened shilling. The drivers complained that earnings from Uber in Kenya were meager, leading many to struggle - with several even having their vehicles repossessed for failure to pay the loans they took to acquire them.

Ruto’s Multi-Million Plan to Host Afcon in Kenya

To host Afcon 2027, Kenya will also need to plough millions into upgrading and possibly building new facilities including stadiums, training facilities, transport and accommodation.