Former Deputy President Rigathi Gachagua has connected the challenges facing Tata Chemicals’ Magadi operations to recent discoveries of lithium, oil, and gas in the region. He has expressed concerns that the government aims to seize control of land believed to be mineral-rich.During a community engagement in Spokane, Washington, on Sunday,
Tag: Kenya economy
CBK Treasury Bills Auction Raises Ksh 44.3 Billion on Strong Demand
The Central Bank of Kenya (CBK) successfully accepted Treasury bills totaling Ksh 44.32 billion in its latest auction, significantly surpassing the initial offering of Ksh 28 billion across three maturities.This auction featured 91-day, 182-day, and 364-day Treasury bills, demonstrating robust investor demand for these government securities.According to the results released
Kenya Private Sector Returns to Growth as PMI Rises in July
Kenya's private sector experienced growth in July for the first time in five months, marking a vital step toward economic recovery. This positive trend comes after a challenging period characterized by weak consumer demand, high operational costs, and geopolitical uncertainties.The latest Stanbic Bank Kenya Purchasing Managers' Index (PMI) climbed to
Experts Urge Kenya to End Wasteful Budget Allocations to Ministries and Counties
Financial professionals advocate for the government to reconsider allocating billions of shillings to ministries and counties that lack the capacity to effectively utilize these funds. This practice leads to wasteful supplementary budgets, hampers development projects, and diminishes value for taxpayers, experts emphasize.During a post-budget public finance discussion hosted by the
Kenya, EU Launch Strategy to Double Trade and Investment in Five Years
Kenya and the European Union have launched an exciting initiative aimed at doubling trade and investment values between them over the next five years. This ambitious goal builds on the positive momentum created by the Kenya-European Union Economic Partnership Agreement (EPA), which went into effect in July 2024 and has
Kindiki Appointed to Lead Ksh2.2tn Lamu Refinery Project
President William Ruto has appointed Deputy President Kithure Kindiki to lead a government committee that will collaborate with private sector investors on the ambitious Ksh2.2 trillion oil refinery project in Lamu.On Tuesday, July 8, 2026, during the signing of the Sovereign Wealth Fund Bill at State House, Nairobi, the president
Kenya Sells 15% Safaricom Stake as Vodafone Takes Majority Control
The Kenyan government’s decision to sell a 15 percent stake in Safaricom has initiated one of the most significant shifts in ownership for East Africa’s leading telecommunications company. While this move has sparked discussions about the state’s diminished shareholding, it also raises an important question for millions of Safaricom customers
Kenya Faces Budget Scrutiny as Counties Receive Ksh428 Billion
Kenya faces increasing fiscal pressure, prompting us to explore how effectively public resources are being managed. Recent findings from the Office of the Auditor-General and the Office of the Controller of Budget highlight a concerning trend of wasteful spending, weak oversight, and poor budget execution, all of which undermine essential
Jimi Wanjigi Blasts John Mbadi Over Kenya’s ‘Illegal Debt’
Safina Party leader Jimi Wanjigi has sharply criticized Treasury Cabinet Secretary John Mbadi for defending a corrupt system, labeling it as ‘mafia mandarins in the Treasury.’ This comment escalated the ongoing debate about Kenya’s public debt during a televised interview on June 20, 2026.Wanjigi refuted Mbadi’s claim that he suggested
Ruto Urges Kenyans Abroad to Invest as He Wraps Up European Tour
President William Ruto concluded his visit to three European nations by encouraging the Kenyan diaspora to support and invest in the transformative programmes the government is implementing back home.During a town hall meeting in Helsinki, Finland, with Kenyans living and working across the Nordic region, the President explained that significant