Author: Korir Issa

Twiga Foods, a leading Kenyan agri-tech and food distribution company, announced a two-month suspension of its Nairobi operations, effective immediately, to complete the final phase of a business transformation strategy. The suspension follows extensive internal restructuring, acquisitions, and layoffs, enabling Twiga to relocate its distribution hub from Tatu City to a facility closer to Nairobi for enhanced strategic positioning. Twiga stated, “This workforce adjustment process is being conducted transparently, respectfully, and in strict compliance with Kenyan labour laws and internal company policies.” The company affirmed its commitment, saying, “Twiga Foods is committed to supporting all affected employees during this period.”…

Chinese President Xi Jinping has declared that China will extend zero-tariff treatment to 100% of tariff lines for all 53 African countries with which it maintains diplomatic relations. This move aims to deepen economic ties and enhance trade between China and Africa. President Xi announced in a letter addressed to ministers attending the Ministerial Meeting of Coordinators on the Implementation of Follow-Up Actions of the Forum on China–Africa Cooperation (FOCAC). He stated, “China will also provide more convenience for the least developed countries in Africa to export to China.” He emphasised that despite global uncertainty and turmoil, China remains committed…

Kenya’s private sector saw its seven-month streak of improving business conditions pause in May 2025, with rising prices driving reduced consumer spending and a slight output contraction. The Stanbic Kenya Purchasing Managers’ Index (PMI) fell from 52.0 in April to 49.6 in May, dipping below the 50.0 no-change threshold for the first time since September 2024. This marks a modest deterioration in private sector health following sustained growth. Christopher Legilisho, economist at Standard Bank, says, “Consumers remain hesitant to spend due to concerns about their economic state and the dim outlook. Still, whereas output, new orders, and purchasing activity declined,…

The Kenya Revenue Authority (KRA) plans to launch an online chatbot to provide tax information and services to micro, small, and medium enterprises (MSMEs). This initiative, announced by Mr. George Obell, Acting Commissioner of the Micro and Small Taxpayers Department, aims to enhance customer service and improve tax knowledge among MSMEs. The chatbot will address common queries related to tax compliance, complementing KRA’s ongoing nationwide taxpayer sensitisation programs. Mr Obell emphasised KRA’s commitment to simplifying tax processes for MSMEs to boost their contribution to national revenue. He stated, “KRA is building a tax system that simplifies registration, filing, and payment…

The Betting Control and Licensing Board (BCLB) has banned the use of celebrities, influencers, and content creators in gambling advertisements as part of new measures to protect vulnerable Kenyans from the risks of betting. This announcement follows the lifting of a 30-day suspension on gambling ads that began on April 29. “Gambling adverts shall not glamorise betting or use celebrities, influencers, and content creators to endorse or promote gambling,” the board stated in a notice on Thursday. During the suspension, the BCLB collaborated with a multiagency team to develop new regulations aimed at promoting responsible gambling and reducing exposure to…

Equity Group Holdings Plc, East and Central Africa’s largest bank by market capitalisation, reported a 4% drop in net profit for the first quarter ended March 31, 2025, amid a challenging economic environment and lower non-funded income. Key Financial Highlights Metric Q1 2025 Q1 2024 YoY Change Total Income KSh 48.2 Bn KSh 50.0 Bn –4% Net Interest Income KSh 28.6 Bn KSh 27.8 Bn +3% Non-Funded Income KSh 19.6 Bn KSh 22.3 Bn –12% Loan Loss Provisions KSh 3.4 Bn KSh 6.1 Bn –44% PBT KSh 18.7 Bn KSh 20.2 Bn –8% PAT KSh 15.4 Bn KSh 16.0 Bn…