Kenya’s entire economy has weathered many storms including quiet loans landscape, weak inflows of diaspora remittances as well as foreign borrowing that has in the past continued to put pressure on the demand for dollar. It is good news that as of mid this year, Kenya’s forex reserves stood at about $11.2 billion, powering the country’s exchange reserves. Nonetheless, a credit ratings agency, Standard & Poor’s (S&P), has upgraded Kenya’s long-term sovereign credit rating to B (from “B-”), speaking to a stable outlook. “The upgrade reflects our view that Kenya’s near-term external liquidity risks have receded,” S&P said in a…
Author: Victor Adar
Victor Adar
Victor Adar is a seasoned journalist with a Diploma in Mass Communication (Print) from the Technical University of Mombasa. He has previously worked with Reuters, Go Places travel magazine, and Aden Associates International. Since joining NBM in 2012, he has become a key member of the editorial team, covering enterprise, corporate affairs, HR, and technology.
Airtel Africa and Vodacom Group have signed a network-sharing agreement in Mozambique, Tanzania, and the Democratic Republic of Congo (DRC), pending regulatory approvals. The deal aims to accelerate the rollout of digital services by sharing fibre networks and tower infrastructure, which could reduce costs and improve coverage in these markets. “Our partnership with Airtel Africa is a proactive step forward in creating a sustainable, inclusive, and connected digital future for the continent,” said Vodacom Group’s CEO Shameel Joosub. He noted that infrastructure sharing will allow the companies to provide cost-effective services to more people faster, supporting their goal of connecting…
Kenyan private sector business conditions have deteriorated at the sharpest pace in a year, particularly in July, as weaker deal inflows, rising prices and disruption from protests continue to put pressure on business activities, Stanbic Bank Kenya says in its research. A Purchasing Managers’ Index (PMI) released on Tuesday, August 5, reveals that companies in Kenya also reported a quicker increase in input prices, with the pace of inflation climbing to a seven-month high. Stanbic experts noted that the contraction has led to a marked reduction in input purchases and a slight dip in inventories even as staffing numbers were…
Makini Schools, part of the ADvTECH Group, has expanded its offering by acquiring Regis Runda Academy. While welcoming Regis staff, students, and parents, Horace Mpanza, the regional managing director of Makini Schools, said Regis will be rebranded as Makini School Runda. He stated, “We plan to build on the strong foundations the founders of Regis have laid, and our intention is to take the school to the next phase of its development,” adding that the move will shape the future of learning in Kenya. Situated in the Ridgeways area, northeast of Nairobi, the school has a current capacity of 2,000…
A 30-day embargo on gambling adverts across all media platforms, including TV, radio, billboards, text messages, and celebrity endorsements, has not stopped the Kenya Revenue Authority (KRA) from recording a milestone performance of 117.2 percent in excise duty on betting services during the Financial Year (FY) 2024/2025, surpassing the set target of Sh11.288 billion. Commissioner of large and medium taxpayers, Rispah Simiyu, says excise duty from betting rose to Sh13.233 billion in FY 2024/25 from Sh10.598 billion collected in the last financial year. During the period under review, Ms. Simiyu adds, betting tax surpassed the set target after the taxman…
Kenyan private sector business conditions have deteriorated at the sharpest pace in a year particularly in July, as weaker deal inflows, rising prices and disruption from protests continue to put pressure on business activities, Stanbic Bank Kenya says in its research. A Purchasing Managers’ Index (PMI) released on Tuesday, August 5, reveals that companies in Kenya also reported a quicker increase in input prices, with the pace of inflation climbing to a seven-month high. Stanbic experts noted that the contraction has led to a marked reduction in input purchases and a slight dip in inventories even as staffing numbers were…
East African Breweries Limited (EABL) has recorded a 12 per cent rise in profit after tax to Sh12.2 billion for the year ended June 30, 2025 amid mixed micro-economic conditions. The brewer’s net sales also increased by 4 per cent to Sh128.8 billion, with both beer and spirits delivering milestone volume growth across Kenya, Uganda, and Tanzania. “We are building a future fit East African business,” CEO and Group MD Jane Karuku said. “From an inflation point of view, the past one year has been good… Last 18 months or so, the (Kenya) shilling has been stable, we have seen…
Kenya Revenue Authority (KRA) has released for collection, a total of Sh 86.518 billion through its Tax Dispute Resolution programme, barely a month after surpassing the revenue target of Sh2.555 trillion for the Financial Year 2024/2025 by 6 per cent after collecting Sh2.571 trillion. According to a statement released on Friday, July 29 by the commissioner legal and board service department, the agency said it utilises “independent review of objections”, Alternative Dispute Resolution (ADR) mechanism as well as litigation to enhance revenue collection. During the period review, Sh18.898 billion was released for collection through its ADR mechanism, while Sh67.620 billion…
Cloud communications company, Infobip, has launched “WhatsApp Business Calling”, a fresh feature that enables businesses to make and receive voice calls via their WhatsApp business numbers. This addition enhances Infobip’s omnichannel platform by delivering richer, real-time conversations within the messaging app used by millions worldwide. This means businesses will now receive and initiate voice calls globally, using WhatsApp’s native interface so customers never leave the app. Calls can be started directly from WhatsApp chats, interactive messages, or deep links embedded in websites and apps, providing multiple convenient entry points thanks to the integration of WhatsApp with Infobip Conversations, which is…
Airtel crosses 24 million customers mark as changing needs fuel growth Airtel Kenya has crossed the 24 million subscriber mark through its network coverage campaign as expansion plans continue. A look at this growth portends great things for the telecommunications brand, with latest data by the Communications Authority of Kenya (CA) showing that customer centric innovation and agent network has long been a contributor to customers growth. “We are deeply humbled by the support of over 24 million customers who continue to believe in us. This is not the destination, it is part of a longer journey. We are committed…
