Kenya Electricity Generating Company (KenGen) is making significant progress in its Sh250 million geothermal development contract with Eswatini Electricity Company, aiming to enhance renewable energy capacity in Eswatini. The project is part of KenGen's strategy to diversify revenue and expand its influence in Africa's renewable energy sector. The company has previously secured successful contracts in Djibouti and Ethiopia, contributing to a 35% growth in net earnings. KenGen's efforts align with Eswatini's goals to strengthen energy security and combat climate change.

The International Monetary Fund (IMF) has expressed concerns over Kenya's planned $1.5 billion loan from the United Arab Emirates, warning it could destabilize the Kenyan shilling and increase the risk of debt distress. The IMF's director of communications, Julie Kozack, emphasized the need for a comprehensive fiscal strategy to manage debt vulnerabilities. Despite these warnings, Kenya's National Treasury plans to proceed with the loan in phases, adhering to borrowing limits. The IMF's deputy managing director, Nigel Clarke, is scheduled to visit Nairobi for further discussions. The loan, with an 8.25% interest rate and a seven-year term, is part of ongoing negotiations between Kenya and the UAE.

Kenya's unpredictable tax policies are criticized for hindering investment, with institutions like the Law Society of Kenya and the Institute of Economic Affairs highlighting issues such as erratic tax code changes and multiple taxation. Proposed amendments, including a new economic presence tax, face resistance from non-resident digital service providers. Bowman’s law firm and Okoa Uchumi, a civil society consortium, express concerns and support for different aspects of the Finance Bill 2024.

Companies in Kenya are withholding employees' statutory deductions, including Sacco and NSSF contributions, as a survival tactic in a struggling economy. This has led to concerns about employees missing out on benefits and loans. The Sacco Societies Regulatory Authority and other stakeholders are calling for policy changes to ensure timely remittance of these funds. The government is reviewing legislative frameworks to protect members' deposits, with potential penalties for non-compliant employers. The issue is widespread, affecting both private and state entities, with significant amounts of unremitted funds reported.

Kuramo Capital, a pan-African investment management firm, has been recognized at the Private Equity Africa Awards for its significant contributions to the growth of private equity in Africa. The firm anticipates increased investments in the continent as economic conditions improve. Despite a challenging 2024, private equity investments are expected to grow by 7.14% in 2025. Kuramo has played a pivotal role in catalyzing nearly $3.5 billion into African private equity over the past 15 years, with investments in 200 companies across 30 sub-Saharan African countries. The firm has also been acknowledged for its efforts in promoting gender-equitable fund management.

Local banks in Kenya faced significant loan losses in the first nine months of the year due to high living costs, low business activity, and job losses. Equity Bank shifted focus to government bonds, while KCB Group and Cooperative Bank Group saw increased non-performing loans and higher loan loss provisions. The challenging economic environment led to strategic adjustments and increased provisions to mitigate risks.

Kenya Electricity Generating Company (KenGen) has been appointed to the Multi-Sectoral Technical Committee (MSTC) to help shape Kenya's carbon market framework. This appointment, announced by Environment Cabinet Secretary Aden Duale, positions KenGen as a leader in advancing Africa's carbon trading and climate change efforts. KenGen's CEO, Peter Njenga, emphasized the company's role in sustainable development and clean energy innovation. The MSTC, comprising representatives from various government bodies, will provide technical advice on carbon projects, aligning with international climate protocols. KenGen's extensive experience in renewable energy and carbon credit generation is expected to contribute significantly to the development of Kenya's carbon economy.

Co-operative Bank was named the overall winner at the Kenya Bankers Association 2024 Sustainable Finance Catalyst Awards, marking its fifth win in seven years. The awards recognize financial institutions committed to sustainable finance, which positively impacts the financial sector, economy, and society. Co-operative Bank's MD, Gideon Muriuki, emphasized the bank's integration of sustainability into its business model, focusing on economic, social, and environmental pillars. The recognition of sustainable finance in Kenya aligns with a global shift towards responsible investment strategies. Absa Bank Kenya was also acknowledged for its efforts in creating long-term value for clients.

The National Bank of Kenya (NBK) reported a net profit of Sh1.2 billion for the first nine months of the year, recovering from a previous Sh3 billion loss. This financial turnaround is attributed to improved cost management, operational efficiency, and diversified revenue streams. The bank's total operating income rose by 16%, with non-funded income contributing significantly. Despite the positive financial performance, NBK did not meet key regulatory capital requirements. The bank's parent company, KCB Group, plans to sell NBK to Nigeria's Access Group at a premium, reflecting shareholder optimism.

A report by the National Taxpayers Association suggests that implementing a wealth tax on Kenya's high net worth individuals could generate approximately $781 million, significantly aiding the National Treasury. The proposal categorizes individuals into three wealth bands, recommending tax rates from 1.5% to 5% based on wealth levels. The report emphasizes the need for comprehensive valuation mechanisms and robust legislation to ensure fair taxation, aligning with constitutional principles. It highlights the potential of wealth taxation in poverty alleviation and reducing wealth inequality, urging the government to consider global trends in wealth taxation.