July 27th 2017

Economy



Kenya ranks 33rd among the cheapest countries for flights

Jack Otwala | Sunday, 04 Jun 2017 13:57 EAT

Kenya ranks in position 33, with an average flight cost of US$11.64 per 100 km of travel, factoring in both short haul and long haul journeys. This compares with the most affordable country, Malaysia, averaging a flight cost of $4.18 per 100 km of travel.


NASA's talk of plebiscite at this tricky economic times quite unpalatable

Athanas Kipchumba | Sunday, 21 May 2017 16:09 EAT

However, Jubilee will have gotten the much-desired political lifeline, if the seemingly “disorganized” NASA focuses on “how to share power and its spoils,” and talks of referendum which many Kenyans consider as an affair that costs an arm and a leg.


Seeing that the SGR will average a speed of 120km/h, this translates to approximately 4.5hrs from Nairobi to Mombasa. This is quite commendable considering the trip currently takes almost 8hrs by road.


Bank of Africa to send home 300 in February, setting panic in banking sector

Free Press Reporter | Friday, 20 Jan 2017 16:39 EAT

The bank will close at least eight of its 24 branches in Nairobi and double that number out of the capital. According to a senior official who spoke to us on condition of anonymity, the bank will fire at least 300 employees in February.


Experts sound alarm on proposed finance law that would 'auction' Kenya

Free Press Reporter | Saturday, 10 Dec 2016 15:16 EAT

In comments to the international NGO Tax Justice Network, anti-corruption campaigner John Githongo has said that the proposed centre "would be like a financial crime aircraft carrier, self-contained and able to cause considerable damage”.


“Kenya’s debt is something to watch. The country needs to slow down on spending and external borrowing,” Renaissance Sub-Saharan Africa Economist Yvonne Mhango said.


Isiolo International Airport to be ready by January 2017

Oscar Ndunda | Monday, 05 Sep 2016 17:46 EAT

Meru, Garissa, Mandera, Marsabit, Samburu, and Tana River may in future rely on commuter links from the airport, which will also boost commerce in the region and ease export of meat and agricultural products.


Citing high production costs resulting from high energy costs, prohibitive and unchecked imports. Other companies that have relocated over the past 10 years include Colgate Palmolive, Unilever, Johnson & Johnson, Procter & Gamble and Reckitt & Benkiser.


Bomet, Kericho to have reliable power after Ketraco project

Free Press Correspondent | Tuesday, 30 Aug 2016 14:52 EAT

Construction of the 132 kV substation will reduce the power outages as the station had double circuit lines which ensure uninterrupted power supply in the case of ongoing power repairs on some lines.


The signing of the Bill was only the first step in an expected bruising battle between the public and banks. While the law's implementation will start immediately, it will take at least a few months before the Central Bank comes up with regulations to govern the broad principles in the Act.


For example, measures on the cleanliness and pathogen-free status of food known as sanitary and phytosanitary measures cover more than 60 percent of agricultural trade.


The news has revealed the acute level of unemployment in Kenya even as official statistics indicate a high rate of job creation. The news generated buzz on social media, with many Kenyans expressing concern at the slow rate of creation of formal sector jobs.


Opposition raises alarm on sweeping changes to VAT Act

Cyrus Mutai | Tuesday, 12 Jul 2016 19:16 EAT

Kenyans are heading to a harder economic times with every item being slapped with a tax which is a concern to everyone in the country and, according Mbadi, members of parliament are the ones to save this country.


Budget tax goal too ambitious, says ICPAK

Jack Otwala | Sunday, 19 Jun 2016 11:28 EAT

ICPAK vice chairman, Julius Mwatu, said an assessment of the expenditure priorities contained in the 2016/2017 budget estimates has attracted several questions around the expenditure planning for the country.


Private sector created more jobs in May

Jack Otwala | Tuesday, 07 Jun 2016 08:55 EAT

Kenya’s private sector remained in good health during May, as business conditions improved solidly as both output and new orders increased, according to the latest Purchasing Managers’ Index (PMI) data released by CfC Stanbic Bank.


Rotich to present Sh2.3 trillion budget

Jack Otwala | Tuesday, 07 Jun 2016 08:54 EAT

Henry Rotich, the cabinet secretary for finance, will present today a Sh2.3 trillion budget for the 2016/2017 financial year.


Experts call for clarity in Tax Procedure Act

Jack Otwala | Tuesday, 07 Jun 2016 08:48 EAT

Experts have called on the government to clarity inconsistent areas of Tax Procedure Act 2015 to make the law more efficient in raising awareness and compliance by taxpayers.


Public debt set to surpass Sh3 trillion mark

Jack Otwala | Tuesday, 07 Jun 2016 08:45 EAT

Michael Wambugu PKF Partner says Kenya’s public debt-to-GDP ratio is 41 per cent – which is by any standards still manageable.


Unlike other powers, China gives more trade than aid

Jack Otwala | Friday, 03 Jun 2016 08:23 EAT

The study says that Chinese aid may continue to play a bigger role over time because Kenya’s foreign aid flows are volatile. “The coefficient of variation of Kenya’s aid is 74.19 between 1960 and 2013 the coefficient of variation for Sub-Saharan Africa is 64.71 over the same period.


NSE recommits to corporate integrity

Jack Otwala | Tuesday, 31 May 2016 09:27 EAT

The Nairobi Securities Exchange (NSE) has recommitted itself to embrace, support and enact a set of core values in areas of human rights, labour standards, environment and anti-corruption after joining the world corporate sustainability initiatives.


One million jobs still a mirage, survey shows

Jack Otwala | Tuesday, 24 May 2016 15:11 EAT

Kenya created 841,600 jobs in 2015, according to the Economic Survey just released. Of these, only 128,000 jobs, or 15 percent, were in the modern sector.


Kenya to grow at 6pc, Central Bank predicts

Jack Otwala | Tuesday, 24 May 2016 14:43 EAT

CBK Governor Dr Patrick Njoroge said the drivers of growth will on macroeconomic stability, stronger agriculture performance, public infrastructure investment and tourism recovery.