Kenya
Kenya Cuts Interest Rate to 12.75% Amid Eased Inflation
The Central Bank of Kenya (CBK) has announced a reduction in the benchmark interest rate to 12.75%, following a deceleration in inflation rates. ...
Kenya
Kenya: Fitch Downgrades Kenya to ‘B-‘ with Stable Outlook
Fitch Ratings has downgraded Kenya’s Long-Term Foreign-Currency Issuer Default Rating (IDR) from ‘B’ to ‘B-‘, maintaining a stable outlook. This decision reflects growing ...
Kenya
Kenyan Court Nullifies 2023 Finance Bill, Exempting Crypto Exchanges from Digital Asset Tax
Crypto exchanges operating in Kenya have been relieved from paying the Digital Asset Tax (DAT) introduced under the 2023 Finance Act. The 3% ...
Kenya
Kenya’s Inflation Rate Declines to 4.3% in July
Kenya’s inflation rate decreased to 4.3% year-on-year in July, down from 4.6% in June, according to data released by the national statistics office ...
Kenya
Kenya’s Banking Sector Leverages AI to Combat Internal Fraud and Theft
Kenya’s banking sector is increasingly turning to artificial intelligence (AI) to tackle internal fraud and theft, underscoring the growing role of technology in ...
Kenya
Kenyan High Court Halts National Digital ID for Third Time in Four Years
Kenya’s high court has once again paused the rollout of the country’s digital identity program, pending the outcome of a constitutional challenge. This ...
Kenya
Kenya: IXAfrica and Schneider Electric Unveil Hyper-Scale Data Centre in Kenya
IXAfrica and Schneider Electric have announced the launch of a hyper-scale data centre in Kenya, marking a significant milestone in the region’s technological ...
Kenya
Kenya: Former CBK Governor Patrick Njoroge Advocates for World-Class Standards in Fintech
Patrick Njoroge, the former governor of the Central Bank of Kenya (CBK), has underscored the importance for fintech operators to adopt world-class standards ...
Kenya
Kenya Misses Tax Collection Target by $2 Billion Despite Raising Taxes
Despite the tax hikes introduced in Kenya’s 2023/2024 Finance Bill, the Kenya Revenue Authority (KRA) fell short of its tax collection target by ...
Kenya
Kenya: Moody’s Downgrades Kenya’s Credit Rating After Ruto Withdraws Controversial Tax Bill
Moody’s, the credit rating agency, has downgraded Kenya’s sovereign rating to junk status, citing the country’s reduced ability to meet its debt obligations. ...
