Tag: Economy

Ruto: Our economy is now stable after spending the past 2 years fixing it

President William Ruto announced that Kenya’s economy is now stable, following two years of focused reforms since he assumed office in September 2022. Speaking on Thursday, January 9, 2024, during a development tour of Elgeyo Marakwet and Uasin Gishu Counties, Ruto exuded confidence in the performance of the economy. Ruto stated that over the past […]

Kenyan economy’s Q3 performance one of the worst since 2015

At 5.1 per cent, the 2019 rate is one of the worst third-quarter performances since 2015, only better than 4.5 per cent in 2017.

Banks exploit policy gap to inflate short-term loan rates

Peter Okong’o Higher rates of default by borrowers are pushing up the cost of short-term debts that include credit cards and mobile loans. A top tier bank has already written to its customers alerting them of an increase in the interest it charges on credit cards. “Due to the increase in cost of credit, we […]

Shilling weaker as Monetary Policy Committee team meets

ZACHARY OCHUODHO The shilling yesterday dipped for the third consecutive day to hit 103.65 against the US dollar even as Monetary Policy Committee (MPC) meets today to review the prevailing macro-economic conditions and set the benchmark lending rate for the next two months. Experts attributed the drop of the shilling against the US dollar partly to […]

Global competitive market: Economic diplomacy key to foreign trade

Richard Ngatia In a competitive global market and at a time of dwindling trade barriers and border restrictions, economic diplomacy has become an all-important tool to secure investment opportunities through bilateral and multilateral trade cooperation. Economic diplomacy deals with the nexus between power and wealth in international affairs. It not only promotes the state’s prosperity […]