Investment professionals from the Chartered Financial Analysts Society East Africa have urged for the harmonisation of African Capital Markets, highlighting the need for legal and regulatory reforms during a conference in Kigali, Rwanda. Key sectors such as technology, renewable energy, and agriculture were identified as essential for economic growth and job creation. The experts also emphasized the importance of dismantling trade barriers, enhancing regional integration, and investing in infrastructure. Rwanda's Finance Minister Uzziel Ndagijimana described the efforts as part of a transformative chapter for Africa's economy. Partnerships with local Rwandan authorities aim to improve investment and financial literacy, with FinAcco Hub training 175 candidates for the CFA Programme by December 2023.

Watu Credit has pledged Sh1.3 billion to support Kenya's transition to electric mobility by financing over 500,000 electric motorbikes by 2030. The company is collaborating with manufacturers like Arc Ride and GOGO Electric to provide locally suitable electric bikes and develop a network of battery swapping stations. This initiative aligns with the Kenyan government's draft National Electric Mobility Policy, which aims to guide the development of electric transportation across various modes and promote the adoption of electric vehicles through measures like green-colored number plates.

The Kenya Dental Association has partnered with GSK Limited to provide free dental checkups to 400,000 Kenyans starting next month. This initiative aims to improve oral health services across the country.

Kenya's inclusion in the global money laundering watch list by the Financial Action Task Force (FATF) could deter foreign investment and business operations in the country. The grey list highlights deficiencies in handling money laundering and terrorist financing, necessitating critical changes to Kenya's financial infrastructure. Local anti-illicit financial flows organizations, including Global Financial Integrity and Transparency International Kenya, call for stringent measures to avert a crisis. The report indicates significant AML events globally, with drug trafficking and financial fraud being prevalent. Kenya's reputation as a stable financial environment is at risk, potentially reducing foreign direct investment and other inflows, which could harm the economy. Kenya joins other African countries like Tanzania and South Sudan on the grey list, while Uganda was recently removed.

East African Portland Cement (EAPCC) has initiated a 25-day maintenance shutdown costing Sh400 million to enhance capacity, efficiency, and reputation. Managing Director Oliver Kirubai aims to increase production to one million tonnes by June 2026. The shutdown, ending on April 5, focuses on upgrading machinery and improving operational efficiency. The firm has a business continuity plan to maintain operations during this period. Last year, the government found a buyer for a 30% stake, pending presidential approval. EAPCC's revenues rose to Sh2.9 billion from Sh2.1 billion the previous year.

Nigeria's Access Bank is set to acquire the National Bank of Kenya from KCB Group, pending regulatory approvals from various bodies including the Central Banks of Kenya and Nigeria. The deal, struck at 1.25 times book value, is expected to enhance shareholder value for KCB Group and expand Access Bank's footprint in the Kenyan market. Both banks emphasize the strategic importance of the acquisition in supporting economic prosperity, financial inclusion, and trade in East Africa. KCB Group shares rose by 9.9% following the announcement, reflecting investor confidence in the transaction.

Kenya has the lowest percentage of youth Not in Education, Employment, or Training (NEET) in Africa at 15%, with a notable gender disparity as females are almost twice as likely to be NEET compared to males. The country's high literacy rate contributes to this, with men more educated than women. The Africa Youth Employment Clock, developed by World Data Lab and the Mastercard Foundation, shows Kenya's youth employment in services at 52%, with 89% of jobs created between 2020 and 2023 in this sector. Despite a high youth employment rate of 60%, 89% of young Kenyans work in the informal sector. The Clock aims to provide real-time job growth data and forecasts for African youth employment trends through to 2030, supporting the Mastercard Foundation's mission to enable 30 million young Africans to find dignified work by 2030.

Trade value among the eight-member East African Community (EAC) has decreased by 30% over the past three years, with Kenya experiencing significant impacts due to intensified regional economic rivalry.

Kenya's failure to execute a promised buyback plan for its Eurobond has led to a significant rise in yields, increasing by 200 basis points. The Central Bank of Kenya reported the first yield increase since November, when President William Ruto announced a $300 million buyback plan. Despite a partial payment of $68.7 million, uncertainties remain, with the government planning to settle the debt by March. The National Treasury is awaiting substantial external inflows from the World Bank, IMF, and other institutions. Analysts attribute the yield rise partly to Ethiopia's recent default, which has also impacted Kenya's currency.

Kenya's economy is expected to contract in 2024 due to high loan rates, which may hinder access to credit for small traders, according to KCB. The bank's analysis suggests that the challenging credit environment will have significant economic implications.

The construction industry is experiencing a surge in demand for construction chemicals as property owners seek to reduce costs and time. In Kenya, this trend is evident with high demand for various construction chemicals. Public Works PS Joel Arumonyang emphasized the importance of these chemicals in modern construction, particularly for low-cost housing. A report by Research and Markets projects the global market for construction chemicals to reach $34 billion by 2026, driven by infrastructure and housing investments in emerging economies. Local firms like Long Chain Construction Chemicals are preparing for increased demand, with plans to expand into East Africa. The construction industry in Kenya is expected to grow significantly, supported by infrastructure and energy development projects.

Cryptocurrency trading signals are insights and recommendations provided by market analysts or automated systems based on technical and fundamental analysis. The article reviews the best crypto trading signal providers for 2024, highlighting Get Started In Crypto (GSIC) for its wide range of signals and user-friendly interface, Benzinga Pro for its customizable features and comprehensive market monitoring, and AltSignals for its impressive track record and reliable signals. Each platform offers various subscription models catering to different trading needs.

Construction chemicals are essential in addressing Kenya's housing deficit by reducing costs and time wastage. Public Works PS Joel Arumonyang emphasized their importance during a BORAQS event organized by Long Chain Construction Chemicals. Kenya faces a significant housing shortage, and the government is actively implementing affordable housing projects. Long Chain Construction Chemicals, established in 2020, offers innovative products like LCCC K11 and Polycarboxylate, enhancing construction efficiency and sustainability. The company plans to expand to Uganda and Tanzania in 2024. The global demand for construction chemicals is expected to grow significantly, driven by the need for environmentally sustainable options and increased construction activities.

The Kenyan shilling's depreciation slowed to 1.6%, a level last seen in July, following loan pledges from the IMF and World Bank. This market development, observed by financial firm FX Pesa, has contributed to easing inflation.

Printcare has selected ALP West Logistics Park in Kenya for its new manufacturing and packing plant, set to begin operations in April 2024. The facility will adhere to strict EU compliance standards, addressing the high demand for top-tier warehouses in Africa. The park's strategic location and modern infrastructure make it a preferred hub for global logistics solutions. This collaboration underscores ALP's commitment to international standards and economic growth in the region, with Printcare leveraging ALP's grade A facilities to enhance its operations in East Africa.

Kenyans are facing a challenging holiday season due to high taxes and a weak shilling, leading to tightened budgets for families and a significant impact on retailers and local businesses.

Interest rates in Kenya are expected to ease in the second half of the year due to anticipated disbursements from international lenders. Central Bank of Kenya Governor Kamau Thugge informed the Senate Committee on Finance that increased government borrowing from the local market has driven up interest rates. The National Treasury's budgetary support bonds have intensified competition for credit, affecting borrowing costs. Despite this, private sector credit growth remains stable. Kenya is set to receive significant funding from the IMF, AfroExim, and the World Bank, which is expected to reduce domestic borrowing and stabilize interest rates and the exchange rate. The CBK recently raised the base lending rate to combat inflation and stabilize the shilling, which has been depreciating against major currencies.

Three Kenyan women scientists, Cheryl Kerema, Mwende Mbilo, and Faith Njeru, have been recognized among the top 30 brilliant African women scientists by L’Oréal and UNESCO at the Women in Science Young Talents Sub-Saharan Africa Awards. Their contributions span public and environmental health, renewable energy, and food security. The awards ceremony, held in Kasane, Botswana, highlighted their innovative solutions to major challenges, with a focus on improving the quality of life in Africa and beyond. The event attracted 632 applicants from 17 countries, with 25 Ph.D. candidates and five post-doctoral researchers being honored.

Kea Simmons, an African-American entrepreneur, is dedicated to helping black Americans tour, invest, and live in Kenya through her company, Traverze Culture. Inspired by her love for Kenya, she offers unique travel and investment packages that aim to bridge the racial wealth gap and foster cultural understanding. Recently, she received a symbolic 40-acre piece of land in Thika to create an estate for African American tourists and investors. Her mission includes taking Kenyans to South Carolina to build cultural bridges and plans to relocate 5,000 black Americans to Kenya, targeting those with disposable income. This initiative seeks to tap into the $1.9 trillion black American spending through conscious trade and commerce.

Kenyan banks may spend close to Sh1 trillion to cover expected high loan defaults due to increased bank rates, high cost of living, and a weak shilling. The Central Bank of Kenya's recent base lending rate hike to 12.5% has raised concerns among industry players about reduced end-of-year profits and growth. Banks are expected to lend cautiously, with many targeting government securities. Non-performing loans (NPLs) have risen, particularly in manufacturing, trade, and personal sectors. Despite this, the banking sector is reported to be stable with strong liquidity and capital adequacy ratios. Banks like Equity, KCB, and others are setting aside more for loan loss provisioning, and some have already announced increased lending rates to customers.

Credit Bank is progressing with its intention to list on the Nairobi Securities Exchange, countering reports of a halt. The bank's principal shareholder is engaging with regulators and stakeholders to reach a consensus for the listing, which aligns with the bank's goal to transition from a tier three to a tier two bank. A recent capital increase involved selling a 20% stake to Shorecap III, following approvals from Kenyan authorities. The listing is anticipated to support President William Ruto's objective to revitalize public listings at the Nairobi bourse. Despite a recent court ruling that may affect Ruto's privatization plans, Credit Bank has improved its financial position, reducing gross losses and growing its loan book.

Business conditions in Kenya have significantly declined, with firms reporting steep drops in output, new orders, and employment due to rapid inflation and cash flow challenges. The Standard Bank's PMI for November highlights near-record inflationary pressures, currency depreciation, and increased fuel charges as key factors. The shilling has depreciated significantly, and fuel prices have reached historic highs. The private sector has seen a sharp fall in new order volumes and output levels, with construction firms suffering the most. Employment has dropped at one of the sharpest rates on record, and business expectations for the coming year remain subdued.

Robisearch, a local tech firm founded by Robert Manyala, has been awarded for its innovative solutions that help SMEs with accountability and business management. The company, recognized as a top ERP and software solutions provider, has developed various systems including point-of-sale, property management, and school management systems. Despite facing competition from cheaper, sub-standard products, Robisearch continues to enhance customer experience through its advanced software applications.

Tourists in Africa and Europe are using less water, with international arrivals increasing by five and four percent respectively on the two continents. The report highlights a trend towards water conservation among tourists.

The Central Bank of Kenya (CBK) has raised the base lending rate by two percent to 12.5%, the highest increase in five years, to combat high inflation. This move is expected to make loans more expensive, potentially reaching up to 28% for some customers due to risk loan pricing by top banks. The Monetary Policy Committee (MPC) aims to anchor inflationary expectations and achieve price stability, with plans to monitor the policy's impact and adjust as necessary. The higher loan costs may hinder business expansion and job creation.

President William Ruto of Kenya is facing criticism from the public for not fulfilling his promises, as well as pressure from the International Monetary Fund and the judiciary. The situation presents a complex dilemma for Ruto, who must navigate these challenges while in office.

WhatsApp has introduced a new feature called 'Secret Codes' to enhance user privacy by allowing an additional unique password for locked chats. Announced by Meta CEO Mark Zuckerberg, this feature prevents unauthorized access to private conversations. The article also mentions other recent privacy features from WhatsApp, including Voice Chat and IP address protection during calls, emphasizing the platform's ongoing efforts to safeguard user data.

New Faces New Voices, under the Graça Machel Trust, and Kayana are collaborating to enhance the resilience of women-led businesses in Kenya through insurance products. NFNV chairperson Caroline Armstrong-Ogwapit emphasized the importance of insurance for business continuity and growth, particularly for micro and small businesses. A pilot group was convened to raise awareness about business risks and insurance solutions. The initiative aims to co-create gender-responsive insurance products, with input from insurance companies like Britam, Prudential, Liberty, and Madison Insurance, as well as KCB Bank's Innovations team. A study by Viffa Consult found that only 26% of women-led SMEs in Kenya have insurance coverage.

Industry players predict that Kenya's property market will recover and gain momentum in 2024 as the current financial turmoil is expected to ease by mid-next year.

Capital market players, represented by the Association of Pension Trustees and Administrators of Kenya (APTAK), express concern over high yields on government papers, which they argue are exacerbating Kenya's public debt. APTAK's chairperson, Hosea Kili, advocates for 'patriotic investment' to stabilize the capital market and enhance the value of domestic investments. The government has been offering high yields to local debt investors to fund the budget deficit, leading to increased interest rates and shorter bond durations. This situation has negatively impacted the equity market, with significant foreign investor exits and declining performance of the Nairobi Securities Exchange. The Central Bank of Kenya's data indicates a shortening of bond maturity periods, and banks holding large amounts of Treasury bonds face potential valuation losses due to the high interest rate regime.

Hong Kong has surpassed Dubai as the leading hub for Russian gold trading, importing a record $2.3 billion worth of gold from Russia in the first eight months of 2023. This surge is linked to US sanctions on Russian gold miners and a crackdown on illicit bullion market activities in the UAE. The Hong Kong dollar's peg to the US dollar, a strong financial system, and a history of trade with Russia contribute to this trend. The shift could support the Russian economy amid sanctions, complicate enforcement of Western sanctions, and raise concerns about money laundering. It may also increase gold demand and prices, introduce market volatility, and affect market transparency.

The Kenya Revenue Authority (KRA) has announced that all tax payments via mobile money will now be made through PayBill 222 222, as part of the government's single payment platform introduced in 2022. This change is effective immediately, in line with the Kenya Gazette No. 16008 of 2022 and a Presidential Directive. The new system integrates with various KRA business systems and the eCitizen portal, which will handle all government service payments. Treasury Cabinet Secretary Njuguna Ndungu emphasized the use of National Identity Card numbers for citizens and Alien Identity Card numbers for foreigners as official identifiers in the digital payments platform.

The Energy and Petroleum Regulatory Authority of Kenya, represented by director general Daniel Kiptoo, has credited the government-to-government (G-to-G) oil plan with saving the Kenyan economy from sinking and softening the cost of living. The plan, involving Gulf oil firms such as Emirates National Oil, Abu Dhabi National Oil, and Saudi Aramco, has reduced exchange rate volatility and pressure on the Kenyan shilling by allowing local oil marketers to receive fuel on credit terms and sell it in shillings. Payments to suppliers are made in dollars collected over 180 days, managed by local banks like Kenya Commercial Bank. The plan has been criticized by some as selfish and short-sighted, but Kiptoo argues that its success is evidenced by neighboring countries like Uganda adopting similar strategies. The plan has delivered 42 cargos and paid 13 letters of credit worth $1.001 billion, with renegotiations leading to reduced freight and premium costs, which are expected to lower retail fuel prices.

The International Monetary Fund (IMF) has reached a staff-level agreement to expand its financing to Kenya by $938 million (Sh142.6 billion), which allows immediate access to a $682.3 million (Sh103.7bn) tranche. The agreement awaits IMF management approval and Executive Board consideration, expected in January 2024.

Tullow Oil has secured a $400 million five-year debt facility with Glencore to manage its senior notes maturing through 2026. The deal includes an oil marketing and off-take contract for Tullow's crude oil entitlements in Ghana and Gabon. The facility, along with Tullow's cash on hand and expected free cash flow, will address outstanding 2025 Notes and aid in refinancing the 2026 Notes. The transaction is seen as a strong endorsement of Tullow's business plan and strategy, and it brings hope to the firm's operations in Africa, including the stalled Turkana oil plan in Kenya. Talks are ongoing with three Indian state-run oil companies for a stake in Tullow's Kenya block.

Kenya has selected Citi and Standard Bank as joint lead managers for a potential dollar-denominated debt, signaling a return to the Eurobond market. The National Treasury announced the appointment after a procurement process, with the transaction dependent on market conditions. Experts predict high interest rates for the new Eurobond due to downgrades by credit rating firms and a warning from the IMF about high yields on Eurobonds. The government is committed to repaying $300 million of the inaugural Eurobond from 2014, with President William Ruto addressing the debt concerns in his State of the Nation address. Kenya's Eurobonds have seen increased yields, and the government faces currency devaluation pressures, leading to a revised repayment plan for the initial Eurobond.

Ransomware attack dwell times have decreased by 72% as firms improve their cybersecurity measures, integrating detection technologies and hiring experts. Sophos' field CTO, John Shier, reported at GITEX in Dubai that median attacker dwell time reduced to five days for ransomware attacks. The retail sector has become a softer target, with 71% of organizations hit by ransomware reporting successful data encryption. The report highlights the need for retailers to enhance their defenses, as recovery costs for those paying ransoms are significantly higher than for those using backups.

Kenya Power shareholders have approved a board restructuring to better reflect shareholding, granting the government six out of ten board votes. This decision, made at the Annual General Meeting, aims to protect minority shareholders' interests, shifting the focus from professional to investor representation. The government, holding a 50.1% stake, has significant decision-making power, which has previously disadvantaged small investors.

Safaricom PLC reported a net profit of Sh34.2 billion for the half-year ending September 30, 2023, driven by a 10.9% growth in net income and a 10% increase in group service revenue. The company's success is attributed to price reductions in Kenya, strategic product launches like Safaricom Hook, and accelerated 5G rollout. CEO Peter Ndegwa emphasized the company's commitment to supporting customers through enhanced value and reduced prices. In Ethiopia, Safaricom's M-Pesa rollout achieved over 1.2 million customers, with data usage surpassing Kenya's. The company aims to deepen financial inclusion and promote a cash-lite economy in Ethiopia.

APA Insurance and the International Finance Corporation (IFC) have launched APA SHEild, a program designed to increase insurance uptake among women in Kenya. The initiative aims to provide affordable financial products tailored to women's needs, including health, wellness, personal wealth, and savings insurance. It also offers workshops and webinars to support women's financial development. The program includes a collaboration with YuBuntu on a Women's Cancer Care Programme, providing screenings, vaccinations, and financial support for cancer diagnoses. The initiative is supported by global partners such as Roche, MSD, Pfizer, Swiss_Re, Dai-ichi Life, and The Bill and Melinda Gates Foundation, brought together by ARK.

Kenya narrowly avoided defaulting on its inaugural Eurobond due in June 2024, thanks to the intervention of the International Monetary Fund (IMF), according to David Ndii, President William Ruto's lead economic advisor. The IMF's Extended Credit Facility has provided crucial financial support, with recent disbursements aiding Kenya's budget and climate change efforts. The depreciating Kenyan shilling has increased the repayment burden, prompting the government to seek additional commercial loans from regional policy banks. Ndii's comments highlight the country's financial challenges and reliance on multilateral institutions amid global market tightness.

Kenyan private sector firms experienced significant inflationary pressures in October due to rising fuel prices and ongoing currency weakness, leading to increased input costs and record-high selling prices. The Purchasing Managers’ Index (PMI) dropped to 46.2 points, indicating deteriorating business conditions. The report by Stanbic Bank highlighted a decline in new orders, particularly in construction, wholesale, and retail sectors, resulting in job cuts and reduced output levels. The shilling's depreciation against major currencies and increased tax burdens further exacerbated costs. Despite some optimism for future sales and activity, business expectations for the next 12 months remain weak.

Uganda plans to adopt Kenya's government-to-government oil import strategy to control fuel costs, starting January 2024 with direct imports from Vitol Bahrain. The Uganda National Oil Company (UNOC) will be the sole importer, selling to private oil marketing companies. This move follows Kenya's similar arrangement with Saudi Arabia and the UAE, aimed at stabilizing pump prices and mitigating foreign exchange volatility. The collaboration between Kenya and Uganda is expected to enhance regional cooperation in the oil sector, though experts warn of potential logistical and economic challenges. The new import plan could impact Uganda's reliance on Kenya's import infrastructure and affect bilateral economic ties.

Kajiado Governor Joseph Ole Lenku highlighted the significant role of Maa culture in Kenya's economic growth, particularly in tourism, at the Africa Union 'Africa Celebrates 2023' meeting in Addis Ababa. He emphasized cultural diversity as an enabler of national integration and praised the Kenyan Constitution for recognizing culture's importance. The conference featured discussions on promoting trade and investment within Africa and empowering women and youths. Notable speakers included former Malawi President Joyce Hilda Banda and other dignitaries. The event concluded with a showcase of Maa cultural heritage.

The insurance sector in Kenya saw a slight growth in 2022, driven by the youthful population leveraging technology despite high inflation. The Insurance Regulatory Authority's report highlights a 2.29% increase in insurance penetration and a 13.4% rise in gross premiums. The industry's net profit surged by 70.2%, with significant growth in both long-term and general insurance businesses. Kenya ranks fourth in Africa for gross premium income. The report emphasizes the need for simple, custom-made policies and strategic partnerships with fintechs and telcos to meet modern insurance needs.

Kenya's Capital Market Authority (CMA) is urging technology firms to diversify investments in capital markets to leverage the country's growing technological infrastructure. Safaricom dominates the Nairobi Securities Exchange (NSE) technology sector, but its stock has significantly declined. Airtel Kenya plans to list on the NSE, following a policy change requiring telecoms to ensure 30% local ownership by March 2024. Globally, tech firms lead major stock exchanges like NYSE and Nasdaq. However, Kenya's capital market has struggled, with the NSE performing poorly and not attracting new listings for nearly a decade.

Kenya's KCB Group is undertaking an aggressive debt management strategy to stabilize liquidity, despite a 20% drop in net profit due to high loan provisions and restructuring costs. The bank has written off significant legacy debts and placed several firms into receivership to recover owed amounts. CEO Paul Russo emphasizes the importance of these tough decisions for future liquidity. The bank's total assets grew by 54% to Sh1.86 trillion, and it maintains healthy capital ratios. Subsidiaries like the National Bank of Kenya have faced substantial losses due to legacy legal charges.

Human activities, particularly emissions of greenhouse gases, have increased temperatures by 2℃ in parts of Kenya, surpassing the global average. The African Venture Philanthropy Alliance report highlights the adverse effects on agriculture, health, and infrastructure, with significant impacts on water retention, road damage, and human health. The report calls for high-impact technologies to mitigate these effects and stresses the need for climate adaptation investment. The upcoming COP28 conference will address these issues, amid ongoing global efforts to limit warming to 1.5°C and achieve zero emissions by 2030.

Kenya has seen a 99% increase in pasta deliveries, ranking second globally in pasta order frequency growth. Glovo's report highlights a significant rise in pasta consumption, with Nairobi leading in deliveries. The growth is attributed to an increase in pasta-SMEs on the Glovo app, which supports local businesses. Ivy Maingi, Glovo's interim general manager, notes a 72.3% increase in partners offering pasta. SMEs have seen a 101% growth, with Nairobi, Mombasa, and Ngong-Rongai-Karen being the top consuming regions. Syokimau, Kisumu, and Thika have the highest growth rates. Popular dishes include Chicken Alfredo and Spaghetti Bolognese. Kenya also follows the global trend of increased online grocery orders, with a 44.5% growth in the past year and an 83.6% surge in pasta orders from online groceries.

Kenya ranks sixth in the latest trade index by Standard Bank, trailing South Africa and West African countries. The Stanbic Bank Africa Trade Barometer shows improvements in government support and credit terms but highlights challenges in trade openness and macroeconomic stability. Despite high inflation and currency depreciation, business confidence remains neutral, with 74% of businesses expecting revenue growth. The report suggests that Kenya's National AfCFTA Implementation Strategy may help overcome traditional trade barriers, although issues like high business taxes and power supply constraints persist.

Kenya, Angola, Zambia, Cameroon, and Nigeria, which together account for 55% of bilateral debt to China, are expected to be significantly impacted by China's economic slowdown, according to the International Monetary Fund.

The 'Pink Ladies Show', a new drama series featuring Dorea Chege, Azziad Nasenya, Shiks Kapyenga, Pascal Tokodi, and Brenda Gesare, will air on StarTimes's Rembo TV starting November. Directed by Reuben Odanga, the series revolves around four single women navigating life's complexities and promises a mix of love, romance, comedy, and drama. It will be broadcast Monday to Friday from 8:00 PM to 8:30 PM.

Super Petrol prices have increased by Sh5.72 per litre, Diesel by Sh4.48 per litre, and Kerosene by Sh2.45 per litre in the latest review by the energy regulator Epra. The new prices, inclusive of 16% VAT, are Sh217.36 for petrol, Sh205.47 for diesel, and Sh205.06 for kerosene in Nairobi. The government has mitigated the projected increases through a stabilization mechanism funded by the Petroleum Development Levy. Without this subsidy, the price hikes would have been significantly higher. The Government-to-Government arrangement has also helped address USD liquidity challenges and slow the depreciation of the shilling. The government has successfully delivered 41 petroleum import cargoes under this program and renegotiated premiums with suppliers, resulting in reduced costs.

The Energy and Petroleum Regulatory Authority (EPRA) has announced an increase in fuel prices for the month, with super petrol up by Sh5.72 per litre, diesel by Sh4.48, and kerosene by Sh2.45 in Nairobi. The new prices are Sh217.36, Sh205.47, and Sh205.06 per litre respectively, inclusive of VAT and adjusted for inflation. The government's stabilisation mechanism, funded by the Petroleum Development Levy, has mitigated the potential higher increases. The G-to-G arrangement has helped ease USD liquidity issues and slowed the shilling's depreciation. The government has secured 41 petroleum import cargoes under this program and negotiated reduced premiums with suppliers.

Super Petrol prices have increased by Sh5.72 per litre, Diesel by Sh4.48 per litre, and Kerosene by Sh2.45 per litre in the latest review by the energy regulator Epra. The new prices, inclusive of 16% VAT, are Sh217.36 for petrol, Sh205.47 for diesel, and Sh205.06 for kerosene in Nairobi. The government has mitigated the projected increases through a stabilization mechanism funded by the Petroleum Development Levy. The Government-to-Government arrangement has also helped address USD liquidity challenges, slowing the depreciation of the shilling. The current pricing cycle reflects a reduction in premiums negotiated with suppliers.

African countries, including Kenya, face significant challenges in repaying nearly $6 billion in Eurobond debt due next year due to high interest rates, with yields on Eurobonds more than doubling to over 12%. The IMF warns that no new Eurobonds have been issued since April 2022, and some countries may struggle to roll over near-term liabilities. Kenya's Eurobond yields have surged, reflecting rising investor risk. Despite strategies to generate repayment resources, concerns persist about potential defaults. Kenya plans to use IMF and World Bank funds to meet debt obligations, with further financing requests to be reviewed in December.

Paul Kariuki has been appointed as the new chairperson of the Kenya Network Information Centre (KeNIC), succeeding Geoffrey Shimanyula. During Shimanyula's tenure, KeNIC saw significant growth in domain registrations and renewals. Kariuki, who has a strong background in ICT and extensive experience in IT operations, expressed optimism about the future growth of KeNIC. The organization is responsible for managing the .KE domains in Kenya.

Kenya has missed the International Monetary Fund's (IMF) timeline for clearing its pending bills, which amount to approximately Sh728 billion. This development highlights ongoing financial challenges within the country.

The Central Bank of Kenya (CBK) has maintained the base lending rate at 10.5%, defying market expectations of a rate hike. This decision, influenced by the Monetary Policy Committee (MPC), aims to keep borrowing costs stable until the next review in November. Analysts had anticipated a rate increase to counter inflation, which the Africa Development Bank projects to average 8.6% this year. The MPC noted that inflation is expected to stay within target ranges due to lower food prices and easing underlying inflationary pressures.

Banks are expected to be top performers at the Nairobi Securities Exchange due to earnings growth and higher dividend payouts. Co-op Bank has overtaken KCB to become the second most valuable lender on the NSE, with its stock rising and market capitalization reaching Sh70 billion. Analysts recommend buying shares in Co-op Bank, Equity Group, NCBA, and Standard Chartered, while advising to hold Absa. The banking sector has benefited from risk-based lending and the resumption of bank-to-mobile transaction charges, despite global financial challenges.

STIHL East Africa, a German power tools manufacturer, has reported significant revenue growth in its first year as a fully-fledged sales subsidiary in Kenya. The company attributes this success to increased demand for power tools in agriculture, forestry, and residential sectors. Key investments include expanding warehouse capacity, tripling staff, and enhancing dealer networks. The firm is also introducing battery-powered products to the East African market, emphasizing sustainability and reducing carbon emissions. The global power tools market is projected to reach $65 billion by 2027.

Safaricom has launched an enhanced cloud computing platform and services aimed at helping businesses and organizations in Kenya digitize their operations. The new services, powered by VMware technologies and hosted in Nairobi and Kisumu data centers, offer flexibility, scalability, and secure hosting. Chief enterprise business officer Cynthia Karuri-Kropac highlighted the initiative as a catalyst for innovation and growth, aligning with Safaricom's commitment to digital transformation. The cloud services provide enterprise customers with scalable computing resources, secure connectivity, and payment integrations, supporting reliable and efficient business operations.

Kenya has seen a reduction in car theft, with less than 1 out of 100,000 people losing their vehicles, which is below the global and continental averages. The 2023 Automotive Industry Awards recognized Autotronix Telematics as a key player in the automotive sector. CEO Martin Mugo highlighted the importance of leveraging technology and information for automotive security solutions in Kenya. The fluctuating private car theft rate indicates the need for enhanced security, and there is potential for local solutions to meet the growing demand for services like fleet management.

The Kenyan tea industry, characterized by both smallholder farmers and large-scale producers, plays a significant role in the country's economy by providing employment and contributing to export revenues. Despite facing challenges such as price fluctuations and climate change, the industry remains promising. Key strategies for maintaining competitiveness include quality assurance, market diversification, cost management, and sustainability. The Kenya Tea Growers Association (KTGA) is actively engaged in climate change mitigation, community support, and socio-economic empowerment. Collaborative efforts with the government and local communities aim to address historical land issues and ensure fair land rates. The future of Kenya's tea industry as a cash crop is promising, contingent on continued strategic planning and adaptation to market dynamics.

Caetano Kenya has been named the official distributor of Renault Trucks in Kenya, marking a significant partnership aimed at strengthening the heavy commercial vehicles industry in the region. The announcement was made during an event at Caetano Kenya’s showroom, where the new 13L engine truck was also launched. The partnership includes investments in new stock, a dedicated workshop, and a robust aftersales division. Key figures such as Caetano Kenya's Managing Director Pedro Campos and Renault Trucks Vice President for Africa and LAPAC Cyril Barrile expressed optimism about the positive impact on Kenya's transport sector. The Kenyan Government, represented by Roads and Transport CS Kipchumba Murkomen, also showed strong support for the initiative.

The 2023 BMW X7, priced at approximately Sh28 million, has been introduced to the Kenyan market by Inchcape Kenya. The luxury vehicle, which features a Twin-power 6-cylinder engine and advanced customization options, is aimed at the affluent segment of the population. The car offers a range of high-end features including a Head-up display, adaptive air suspension, and a flexible zero-interest payment plan for custom orders. Julia Vershinskaya, managing director of Inchcape Kenya, emphasized the vehicle's potential to revolutionize the local car-buying experience.

The article discusses the challenges faced by Kenya's health industry in providing quality healthcare for all. It highlights the acute shortage of health workers, with only 75% of registered medical professionals considered active. Efforts to address this include the Emergency Hire Plan, distance education programs, and the opening of new medical training facilities. Despite these efforts, the retention of medical workers remains a challenge due to poor pay, leading to a high rate of migration to the private sector or abroad. The article also touches on the financial aspects, noting the decline in health budgets and the government's commitment to improving health outcomes. Additionally, it mentions the growth of medical tourism in Kenya, with investments in medical facilities and equipment to attract patients from neighboring countries. The article concludes by acknowledging the strides made in the health sector despite financial and resource limitations.