Public service vehicle (PSV) Saccos have been urged to strengthen their savings culture and improve financial management to help members access affordable financing, expand their businesses and improve incomes. The call was made during the launch of seven new public service vehicles acquired by NAKKONS Sacco in Othaya, Nyeri County, as part of efforts to modernise its fleet. Speaking at the event, Equity Bank’s Director and Head of Retail Banking Carol Rutto said access to credit alone is not enough, adding that long-term growth depends on disciplined saving and prudent financial management. “NAKKONS Sacco has demonstrated what collective effort can…
Author: Vizboy
Sales of Isuzu East Africa’s sport utility vehicles (SUVs) rose by 483.3 percent to 105 units in the half-year ended June 2026 as local assembly made the car cheaper. Data from the Kenya Motor Industry Association shows sales of the seven-seater Isuzu mu-X rose from 18 units a year earlier. “We lowered the price but also added more features to the mu-X once we started local assembly,” a source at Isuzu told the Business Daily. “This has seen an increase in demand. We have more customers in the queue. Our target is the 10,000 Kenyans who spend Sh8 million to…
The Treasury has substantially cut its earlier proposed minimum capital for cryptocurrency firms by up to 40 percent, bowing to pressure amid warnings that steep charges would deter investments in the fast-rising segment. New regulations published by Treasury Cabinet Secretary John Mbadi show that cryptocurrency operators are required to have a minimum paid-up capital of up to Sh300 million, marking a significant reduction from the earlier proposed limit of Sh500 million. Stablecoin issuers have the highest minimum paid-up capital requirements of Sh300 million, down from the earlier proposed Sh500 million, while their liquid capital is set at Sh60 million or…
More than 17,000 passengers passed through Moi International Airport in Mombasa over a 10-day period. Data from the airport shows that 8,948 passengers arrived in Mombasa while 8,319 departed during the period. Tourism ministry says the move highlights sustained traffic through Kenya’s main coastal gateway as the peak tourism season gathers momentum. The latest figures come as the government intensifies efforts to position Kenya as a safe, competitive and attractive destination for international leisure and business travel, with the Coast remaining a key pillar of the country’s tourism industry. The steady inflow of visitors is expected to support businesses across…
Giant artificial intelligence (AI) firms such as OpenAI and Meta face new minimum pay and mental healthcare rules in Kenya as the government seeks better working conditions for local staff, including content moderators and data annotators. A proposed policy by the ICT Ministry says the government is developing protection guidelines for moderators, who review and remove harmful material from online platforms, and annotators, who label images, text and audio to train AI models such as ChatGPT to recognise and respond to human prompts. The guidelines will require AI companies and outsourcing firms to comply with locally set duty-of-care standards, including…
President William Ruto has launched a new initiative that will empower more than 100,000 young Kenyans over the next three years in partnership with the United Nations Development Programme (UNDP) and the Kenya Private Sector Alliance. The Next Generation of Kenya Youth Employment Programme will provide structured private sector internships complemented by training in entrepreneurship and financial literacy. It will also impart life skills and workplace readiness, ensuring that the youth are equipped with the knowledge, experience and confidence to thrive in an increasingly competitive economy. “Over the next three years, it will accelerate inclusive youth economic transformation by connecting…
The Ministry of Health (MoH) has warned counties over high levels of pesticide residues found in commonly consumed vegetables, including kale, spinach, tomatoes and onions sold in Nairobi and Nakuru. The ministry has directed county governments to inspect and test fresh produce in major markets, with priority given to the affected vegetables. It also wants counties to educate consumers on proper food preparation methods, including thorough washing, soaking and peeling, which can reduce pesticide residues by up to 70 percent. The directive follows a study by the Kenya Organic Agriculture Network, the University of Nairobi and SGS Kenya Laboratories, which…
Manufacturing, distribution and financial services accounted for more than half of all merger filings received by the Competition Authority of Kenya (CAK) in the 2024/25 financial year, reflecting sustained corporate restructuring and investment activity across the economy. According to the Authority’s latest annual report, CAK received 128 merger-related applications, including 30 merger notifications, 45 COMESA merger filings, 19 exclusion requests, six non-merger notifications and 28 advisory opinion requests. Manufacturing recorded the highest number of merger notifications, accounting for 23.5 percent of all filings, followed by distribution at 17.6 percent and finance and insurance at 11.8 percent. Combined, the three sectors…
The government is positioning artificial intelligence (AI) as a key driver of productivity, innovation and competitiveness for Kenya’s micro, small and medium enterprises (MSMEs) as businesses increasingly embrace digital technologies. Principal Secretary for the State Department for Micro, Small and Medium Enterprises Development Susan Auma Mang’eni said the government has developed a national AI strategy aimed at helping businesses and entrepreneurs adopt the technology to improve efficiency, lower costs and unlock new economic opportunities. Speaking on the sidelines of the Third Annual SME Conference, Awards and Exhibition organised by the Kenya Private Sector Alliance (KEPSA), Mang’eni said the government’s focus…
Oil prices hit $100 a barrel for the first time since May as the escalating conflict in the Middle East reignited fears over global energy supplies. Brent crude – the global benchmark for oil prices – rose more than 6% on Thursday following several days of increases as the US stepped up military strikes against Iran. Prices spiked after Houthi militia in Yemen attacked oil tankers in the Red Sea, threatening a key export route that Saudi Arabia has used to bypass the Strait of Hormuz. Gas prices have also risen steadily over the past month, with the benchmark UK…
The Kenya Tea Development Agency (KTDA) has set transport rates of between Sh15 and Sh17.79 per tonne per kilometre for the delivery of fertilizer to its managed tea factories. Under the approved rates, farmers in Zone A factories will pay Sh17.79 per tonne per kilometre, inclusive of VAT, while those in Zones B and C will pay Sh15 per tonne per kilometre. The rates follow a tender issued by KTDA in April 2026 for the transportation of bagged fertilizer from Nairobi to various KTDA-managed tea factories. KTDA said it has already finalized the procurement process for 99,000 metric tonnes of…
BAT Kenya’s net revenue rose 5 percent to Sh12.3 billion in the first half of 2026, driven by a recovery in export sales and growing demand for its modern oral nicotine pouches. The improved performance came despite a challenging operating environment marked by rising illicit cigarette trade, weak consumer spending and inflationary pressures linked to broader macroeconomic challenges and the ongoing Middle East conflict. BAT Kenya Managing Director Sidney Wafula said the rapid growth of illicit cigarette trade remains the biggest threat to the country’s legitimate tobacco industry. “In the domestic market, the growth in illicit cigarettes, estimated at 45…
The Geothermal Development Company (GDC) is on the spot after an audit flagged Sh15.93 billion in drilling rigs that are either idle or non-functional, adding to a list of underutilised assets at the government-owned firm. In the latest report for the year ended June 2025, the Auditor-General has questioned the value for money of the seven drilling rigs acquired several years ago, noting that three have remained out of operation for the past five years with no clear repair plan, while GDC also lacks staff capacity to operate all the rigs. “Review of documents provided by management in respect to…
Kenya’s small and medium-sized enterprises (SMEs) should diversify their markets, supply chains and sources of raw materials to remain resilient as geopolitical tensions and economic uncertainty continue to disrupt global trade, Kenya Private Sector Alliance (KEPSA) Chief Executive Officer Carole Kariuki has said. Speaking during the Third Annual SME Conference Awards and Exhibition, Kariuki warned that businesses can no longer rely on a single export destination or supplier as conflicts, shifting trade dynamics and volatile economic conditions increasingly reshape global commerce. “You wake up one day and there is war in one region, the next day something else has happened…
