Author: David Indeje

The World Bank on Tuesday projected a 5.5  percent collective growth for the Kenyan economy in 2022. This is an upgrade from 4.9 percent previously attributed to a stronger-than-expected recovery from the coronavirus pandemic in 2021. According to the 25th edition of the World Bank Kenya Economic Update, Aiming High: Securing Education to Sustain the Recovery, the impact of the war in Ukraine is weighing on the global economic recovery from the pandemic, the growth is higher than the estimated average growth in Sub-Saharan Africa of 4 percent. In addition, the economy is projected to grow at 5.2 percent on…

Business confidence fell to a new all-time low for the third consecutive month in May driven by uncertainty over supply chains, inflation, and the upcoming elections

Madaraka Day is marked every 1st June in remembrance of the day in 1963 when Kenya attained internal self-rule from the British colonial government

Swvl has over 1,330 employees and laying off 32% of its workforce means that over 400 people will lose their jobs.

Kenya’s inflation surged to a new record of 7.1 percent in May as the cost of fuel, food and beverages continue to rise sharply. Tuesday, the Kenya National Bureau of Statistics (KNBS) data showed that the overall year-on-year Inflation rate for May 2022 was 7.1 percent compared to 6.47 percent recorded in April 2022. “The rise in Kenya’s inflation was mainly due to an increase in prices of commodities under; food and non-alcoholic beverages (12.4 percent); furnishings, household equipment and routine household maintenance (7.9 percent); transport (6.4 percent) and housing, water, electricity, gas and other fuels (6.0 percent),” KNBS in…

This is the first interest rates hike by the Central Bank of Kenya’s Monetary Policy Committee since July 2015.