Kenya’s flagship digital payment system, eCitizen, is at the center of a financial storm following an audit report that reveals Ksh.9.6 billion in questionable transactions, systemic mismanagement, and potential fraud. Auditor General Nancy Gathung...
In a bold move reshaping East Africa’s economic dynamics, the Tanzanian government has issued a sweeping ban preventing non-citizens from engaging in 15 specific business activities, ranging from retail trade to mobile money services, as part of a ...
A new World Bank report reveals a financial paradox in Sub-Saharan Africa: while access to formal banking is growing, most adults still rely on family, friends, and informal savings groups for loans. But Kenya is bucking the trend, not by […]...
Kenya’s public education system is on the brink of collapse, suffocated by chronic underfunding, systemic mismanagement, and alarming cases of financial malpractice. A damning special audit report by Auditor General Nancy Gathungu has laid bare the...
The Nairobi Securities Exchange (NSE) has delivered impressive gains that beat out returns from bonds, fixed deposits, and even property. The total value of investments on the Nairobi stock market jumped by a huge 25 percent, adding KSh 477.3 billion...
Recently, China made a bold promise to African nations: zero tariffs on 98% of taxable goods from all 53 countries that recognize Beijing diplomatically. The announcement, delivered at a high-level ministerial meeting, was hailed as a potential turni...
The National Assembly’s Finance Committee has rejected a key amendment in the Finance Bill 2025 that sought to revise Pay As You Earn (PAYE) tax bands, a move intended to ease the financial burden on low and middle-income earners. The […]...
The Central Bank of Kenya (CBK) has once again cut its benchmark Central Bank Rate (CBR) by 25 basis points to 9.75% in a bid to stimulate borrowing and economic growth. But despite a series of rate cuts, private sector […]...
The National Social Security Fund (NSSF), is facing a crisis of staggering proportions. The latest financial report by the National Social Security Fund (NSSF) for the financial year ending June 2024 has exposed significant financial mismanagement, r...
The World Bank has proposed significant changes to Kenya’s Pay As You Earn (PAYE) system, which could see low- and middle-income earners pay less in income taxes while high-income earners face higher rates. If adopted by the government, these refor...
Kenya’s public debt has ballooned to a staggering Sh11.36 trillion, with new Treasury data revealing an alarming shift towards domestic borrowing that threatens to crowd out private sector growth and derail economic recovery. The Numbers Tell t...
After weeks of economic brinkmanship that rattled global markets, the United States and China have reached a temporary agreement that’s giving businesses and consumers their first sigh of relief in months. Following high-stakes negotiations in ...