- Kenyans will now start paying more for their loans after the Central Bank of Kenya increased the central bank’s base lending rate to 10.5% from 9.5%.
- Air France KLM sees potential for further expansion in its main Africa region thanks to growing demand, with the continent a strategic priority for the group.
- The government is racing against time to extract oil from the Turkana oil fields with the hopes of the entire project pegged on a field development plan to assess the viability and profitability of the whole project.
- Business rivalry seemingly isn’t enough for two of the tech industry’s most powerful billionaires. Now Elon Musk and Mark Zuckerberg say they want to settle their scores in a cage fight.
- Aspira and Loxea Limited, the leasing arm of CFAO Group, have partnered to enable small and medium enterprises (SMEs) in the country to acquire new vehicles with 100 percent financing from Aspira through leasing.
- China’s central bank has cut its main benchmark lending rates for the first time in 10 months, in its latest effort to bolster growth as the world’s second largest economy falters.
- Schneider Electric Kenya Limited and ACTOM Kenya Ltd. have joined forces in a groundbreaking agreement that confirms ACTOM’s intent to take over the production of Schneider Electric’s BlokSeT type tested switchboards.
- The European Union and Kenya are set to announce a trade deal on Monday, EU officials said, in a coup for Brussels as it seeks deeper economic ties with Africa.
- The Cereal Millers Association (CMA) has launched a food fortification index in collaboration with the international non-profit TechnoServe to address malnutrition in Kenya.
- The European Central Bank raised interest rates by a quarter of a percentage point Thursday, unmoved by recent data showing a mild recession last winter in the 20 countries that use the euro.
- Kenya is set to host the prestigious Africa Energy Forum (aef) from June 20th to June 23rd this year at the Kenyatta International Convention Centre (KICC) in Nairobi.
- Kenya Kwanza Government is focused on enhancing long-term resilience and increasing investments in agricultural capacity to bolster domestic food production.
- Central Bank of Kenya Governor Dr Patrick Njoroge exits his Haile Sellasie Office this week, eight years after his appointment, Njoroge also popular among financial journalists in Kenya as the Monk, has had a mixed bag of both hits and misses.
- The Energy and Petroleum Regulatory Authority (EPRA) has released new fuel prices which will be in force from midnight Thursday, June 15th to July 14, 2023.
- New data from the Central Bank of Kenya (CBK) shows that as of December 2022, the average loan size stood at approximately Ksh.662,169 compared to Ksh.697,500 in the 2020 survey.
- HFC, HF Group's banking subsidiary, has partnered with Kigutha Farmers Limited to unveil a Ksh.1.4 billion residential project, dubbed Barista Gardens, in a bid to address Kenya's housing deficit that currently stands at over two million units.
- Kenya Airways (KQ) and Emirates on Monday announced an interline partnership that will allow customers to fly the two airlines’ networks within a single itinerary.
- An economic survey released by the Kenya National Bureau of Statistics (KNBS) has showed that the inflation rate in Kenya was at 8.0% in May 2023, as compared to 7.1% in May 2022.
- The National Treasury has tabled a Ksh.4.5 trillion budget before parliament, a Ksh.1 trillion shilling jump from the last financial year which was Ksh.3.324 trillion.
- Sidian Bank, in collaboration with international NGO Aqua for All and the water services regulator, has launched a fund to support small-scale water service providers (SSWPs) in Kenya.
- As the Finance Bill 2023 moves to Parliament following the conclusion of public participation, the anticipation on what it means for the future of Digital Credit Providers (DCPs) in Kenya is growing.
- The Kenya Electricity Generating Company (KenGen) has announced payment of Ksh.1.4 billion to the National Treasury as a dividend for the financial year ended June 2021.
- The Competition Authority of Kenya (CAK) has approved the proposed acquisition of the entire issued share capital of Phima Flowers by the Dutch investment holding company Marcoz Holding.
- That’s according to a Bloomberg Billionaires tally, which estimated the Tesla (TSLA) CEO’s net worth is now about $192 billion, compared to LVMH (LVMHF) CEO Bernard Arnault’s $187 billion.
- HFC, HF Group's banking subsidiary, has entered into a new partnership with Athletics Kenya (AK) that will see the financier offer affordable home loans to local athletes at the incentivized rates of the Kenya Mortgage Refinancing Company (KMRC).
- Former Kenya Airports Authority (KAA) Managing Director Lucy Wanjiku Mbugua has been appointed as the Regional Director for the Eastern and Southern African Office at the International Civil Aviation Organization (ICAO).
- Kenyan e-commerce and food distribution platform Twiga Foods is the new member of the African Hidden Champions (AHC), an initiative that promotes dynamic African companies.
- Meta Platforms Inc carried out the last batch of a three-part round of layoffs on Wednesday, according to a person familiar with the matter, as part of a plan announced in March to eliminate 10,000 roles.
- The International Monetary Fund said it has reached a staff-level agreement with Kenya that would provide the cash-strapped government with access to another $1 billion (Ksh. 138.1 billion) in credit.
- Kenyan telecom companies are planning to begin manufacturing and assembling mobile phones locally, with an expected annual output of between 1.2 to 1.8 million devices.
