After having its monopoly on token meters challenged last year, Kenya Power has increased the cost of meter replacement and postpaid-to-prepayment meter retrofitting, attributing the rise to operational expenses. The new rates, which have already taken effect, are more than quadruple the previous rates and are set to negatively impact customers seeking these services. According to Eng. Rosemary Oduor, General Manager of Commercial Services & Sales, the cost of a single-phase meter will now retail at Sh15,000, increasing from Sh3,300, while three-phase meters now cost Sh25,000, up from Sh12,000. On the other hand, retrofitting postpaid meters to prepaid systems has…
Author: Antony Mutunga
Antony Mutunga
Antony Mutunga holds a Bachelors degree in Commerce, Finance from Jomo Kenyatta University of Agriculture and Technology. He previously worked for Altic Investment & Consultancy before he joined NBM team in 2015. His interest in writing ranges from business, economics and technology. He is also our lead researcher in matters business.
Nairobi has become the new home for the World Bank’s freshly appointed Vice President for Eastern and Southern Africa, Ndiamé Diop. He takes the baton from retiring Vice President Victoria Kwakwa, at a time that the institution is looking to deepen its commitment to localized leadership and client-focused service delivery. Mr Diop steps into the new role at a critical juncture for the region, which is grappling with both immense challenges and transformative opportunities. His relocation to Kenya’s capital symbolizes a strategic shift toward proximity-based governance, ensuring the Bank’s operations remain tightly aligned with the realities of the communities it…
Private sector credit growth is expected to recover by the end of 2025 compared to the previous year, despite a slight decrease in growth in March compared to January 2025. According to the Central Bank of Kenya’s latest Market Perceptions Survey, financial institutions expected private sector credit to grow by only 12.1% in March, compared to 13% in January. Despite this decrease, financial institutions are confident that recovery will emerge across key sectors of the economy. The economy is currently showing signs of stabilizing, with inflation expectations anchored around 5% and the shilling holding steady against major currencies. According to…
The luxury hospitality industry is experiencing an unprecedented boom, attracting high-net-worth travelers with its unique blend of opulence, wildlife, bespoke experiences and supportive government policies. With the sector redefining African hospitality and reporting record occupancy rates despite global economic uncertainties, industry experts agree the sector holds much potential for growth. According to Bani Haddad, Founder and Managing Director of Aleph Hospitality, the largest independent hotel management company in the Middle East and Africa, the luxury hospitality sector shows no signs of slowing down thus, it offers promising opportunities. “Kenya presents a great opportunity for hospitality investment due to its unique…
A dramatic shift is unfolding in the East Africa region, as Kenya is poised to snatch back the regional crown from long-time rival, Ethiopia. The latest IMF projections, in accordance with the World Economic Outlook, April 2025, reveal Kenya’s GDP is set to increase and reach Sh17.13 trillion ($131.67 billion) in 2025, finally overtaking Ethiopia’s Sh15.19 trillion ($117.46 billion) GDP. This economic coup caps years of Ethiopia’s dominance, which held for over 5 years, unraveling amid perfect storms of conflict and crisis, while Kenya’s resilient, tech-driven economy quietly built momentum for this takeover. Just five years ago, Ethiopia’s economy stood…
President William Ruto has taken a bold stand on the world stage, calling for sweeping reforms to reshape the outdated global financial system. According to the President, during his speech at Peking University in Beijing, China, the demand for transformative reforms has grown over the years for the international financial institutions to be aligned with contemporary geopolitical and economic realities. And even though abolishing them would be better, reforms are the plausible solution at this current period. President Ruto stated that, as difficult as it is, it is still easier to reform than to abolish them, even though the latter…
China has issued a stern warning to countries contemplating trade deals with the United States, as its trade war with the superpower intensifies. This follows a move by the U.S., in which it has been pressuring its trading partners to curtail trade with the East Asian giant in order to acquire relief from the recent U.S. tariffs. The U.S. has stated that a small number of countries have already started negotiations after the tariffs were announced, and more than 70 are ready to begin as well. To avoid major losses, China has promised to retaliate should any country act against…
Africa joins the world in mourning the passing of His Holiness Pope Francis, a spiritual leader whose profound compassion and unwavering commitment to the marginalized resonated deeply across the continent. The Chairperson of the African Union Commission, H.E. Mahmoud Ali Youssouf, expressed the collective grief of Africa, honoring the Pope as a tireless advocate for peace, human dignity, and solidarity with the oppressed. On behalf of the African Union, its Member States, and the people of Africa, he extended heartfelt condolences to the Holy See, the global Catholic community, and all those across the world who were inspired by Pope…
The Energy and Petroleum Regulatory Authority (EPRA) has announced a decrease in the maximum retail prices of petroleum products for the period spanning 15 April 2025 to 14 May 2025. This price drop follows the state’s decision to retain the subsidy scheme, which has resulted in the lowest fuel prices in at least two years. In Nairobi, Super Petrol will now retail at Sh174.63 per litre, marking a reduction of Sh1.95. Diesel prices have dropped by Sh2.20 to Sh164.86 per litre, while Kerosene will cost Sh148.99 per litre, a decrease of Sh2.40. The prices are inclusive of the 16% Value…
Nairobi is set to host the 12th East Africa Property Investment (EAPI) Summit on 7 and 8 May 2025 at the Pullman Hotel in Upper Hill. Under the theme “Positioning for Opportunity”, the summit will serve as a critical platform for networking, dealmaking, and strategic discussions on key sectors such as commercial property, retail, logistics, hospitality, and affordable housing. For the third consecutive year, Absa Corporate and Investment Banking (CIB) will take the lead as the summit’s principal sponsor, reinforcing its commitment to shaping Africa’s economic landscape. Joining Absa CIB as a key sponsor is Africa Logistics Properties (ALP), a…