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Business

Kenya Cabinet Approves Revised 2025 Finance Bill, Lowers Deficit Target to 4.5% GDP

Kenya's Cabinet has approved a revised FY2025/26 Finance Bill, dropping numerous proposed tax hikes and reducing the fiscal deficit target to 4.5% of GDP from 5.1%. The bill prioritizes closing loopholes and broadening the tax base over new levies, aiming to stabilize debt with an expected IMF deal.

SOStreamline Official

May 15, 2025

Business

Nairobi Stocks See Gains as Safaricom Rallies on Strong Outlook and Fiscal Policy

The Nairobi Securities Exchange (NSE) experienced notable gains in mid-May, significantly propelled by a rally in Safaricom shares. This positive market movement reflects robust investor confidence stemming from strong corporate earnings outlooks and the government's reassuring conservative fiscal policy, which avoids new taxes.

SOStreamline Official

May 15, 2025

Business

Kenya Targets Reduced Fiscal Deficit of 4.5% GDP for 2025/26

The Kenyan government has announced plans to reduce the fiscal deficit to 4.5% of GDP in the 2025/26 fiscal year. This move towards fiscal consolidation is coupled with a pledge to avoid introducing new taxes, focusing instead on closing loopholes and improving tax compliance, following last year's public protests.

SOStreamline Official

May 15, 2025

Business

Kenyan Shilling Maintains Stability Against US Dollar Amid Steady Inflows

The Kenyan shilling has remained stable against the US dollar in recent trading, quoted around 129.00/50 on May 12 and 129.10/60 on March 26. Analysts credit this stability to strong forex inflows from diaspora remittances and tea exports, which have balanced import demand.

SOStreamline Official

May 12, 2025

Business

Safaricom Projects 50% Profit Surge Driven by Ethiopian Market Turnaround

Telecom giant Safaricom announced on May 9 a projected 50% surge in full-year EBIT to KSh 144-150 billion ($1.1-1.2b), up from KSh 97.1b, largely due to sharply reduced losses in its Ethiopian operations. CEO Peter Ndegwa also reported a 10% rise in group revenue.

SOStreamline Official

May 9, 2025

Business

Kenya's Private Sector Growth Hits 27-Month High in April, PMI Shows

The Stanbic Bank Purchasing Managers’ Index (PMI) for Kenya rose to 52.0 in April, its highest in 27 months and firmly above the 50.0 growth mark. This surge was driven by the fastest rise in new orders since early 2022, leading to expanded output and hiring, indicating a broad-based recovery.

SOStreamline Official

Apr 30, 2025

Business

Kenyan Consumer Inflation Edges Up to 4.1% in April Amid Rate Cuts

Kenya's consumer inflation accelerated to 4.1% year-on-year in April from 3.6% in March, with a 0.3% monthly rise. Despite this increase, inflation remains within the Central Bank's 2.5-7.5% target, providing context to the CBK's recent surprise policy rate cut to 10.0% aimed at spurring growth.

SOStreamline Official

Apr 30, 2025

Business

Central Bank of Kenya Delivers Surprise 75bps Rate Cut to 10.0% in April

The Central Bank of Kenya surprised markets on April 8 by cutting its benchmark rate by 75 basis points to 10.0%, the fifth consecutive cut. This larger-than-expected move aims to stimulate private sector lending and support economic growth, with March inflation at 3.6% providing room for easing.

SOStreamline Official

Apr 8, 2025

Business

EU-Kenya forum deepens digital trade ties

Nairobi's EU-Kenya Business Forum in May 2025 spotlighted Kenya's ambitious digital economy strategy, aiming to significantly boost exports through enhanced digital trade ties with the European Union. Key initiatives include a 100,000 km fibre backbone and 1,450 digital hubs.

SOStreamline Official

May 1, 2025

Business

Kenya’s inflation rises to 4.1% in April

Kenya's annual inflation rate surged to an eight-month high of 4.1% in April 2025, primarily fueled by escalating food prices due to shortages of staples. The Central Bank governor warns of further increases if supply issues are not resolved.

SOStreamline Official

Apr 1, 2025