The Petroleum Principal Secretary, Mr Andrew Kamau, forgot that you “don’t joke with a hungry man” after his assertion this week that Kenyans are practically paying no taxes for fuel due to the subsidy to oil marketing funds caused an uproar. Still, the authorities have
The Covid-19 pandemic led to the sabotage of the global supply chain hence hiking of fuel prices. This in return led to the spiral effect spilling to other sectors of the economy thus pushing up the cost of living. In a statement, National Treasury CS
World leaders assembled in Davos, Switzerland, for the 2022 World Economic Forum annual meeting against a backdrop of deepening global friction and uncertainties. It is against this backdrop that world leaders discussed the most pressing issues at the moment: Ukraine and the future of the
The time is now for the private sector to support economic prosperity and social mobility through a new social contract. An overhaul of the social contract will address 21st century realities and needs. A new social contract can deliver long-term value that enables economic security
Manufacturing is a critical sector in Kenya’s economic development in its contribution to both the national output and exports, as well as job creation. Over the past decades, the sector has contributed heavily to diversifying Kenya’s economy. However, the pandemic in 2020 had a significant
The Kenya National Bureau of Statistics (KNBS) recently released the Economic Survey 2022, detailing how various sectors and job markets performed and offered insight into the post Covid-19 recovery. Kenya’s economy rebounded in 2021 compared to 2020, with most sectors recording significant improvement. According to
The Kenya Revenue Authority (KRA) has announced the establishment of an advanced forensic laboratory that will provide the authority the capability to access financial data from taxpayers’ computers and mobile phones, in a bid to detect tax evasion and to reduce financial fraud. The Kenyan
Agroecology is the application of ecological principles to agricultural systems. Studies reveal that agroecology offers solutions to the ongoing farming and food security challenges in Kenya such as drought, hunger, poverty, and inequality. Agroecology supports small scale farmers in diversity and ensures long-term balance between
President Uhuru Kenyatta on Thursday, May 12, 2022, chaired a session of the nation’s apex policy organ ‐ Cabinet ‐ at State House, Nairobi. The Cabinet considered the state of the economy within the context of the 2022 Economic Survey. In 2021, the Kenyan economy
Pillars of Focus to Entrench Sustainable Living Sustainability is the ability to continue a defined behaviour indefinitely in order to meet the needs of the present without compromising the ability of future generations to meet their own needs. According to the International Union for Conservation
Energy is vital for the economic progress of a country. It has a significant impact on all aspects of development, ranging from environment, social, economic, agriculture, population and livelihood. The COVID-19 pandemic also served to catalyse digitalisation of all aspects of economic activities. . Kenya’s
The camps of both leading presidential candidates put aside their rivalry this week to push a pliable electoral commission to extend the deadline for the submission of their running mates by 20 days. While the names of the candidates and their mates were originally scheduled
Rubis Energy recently released its reviewed prices of liquefied petroleum gas refills. Customers refilling a 13kg gas cylinder would have to part with Kshs 3,340 from the current price of Kshs 3,113 being an increase of over Kshs 200. Pricing of cooking gas is unregulated
The 2022/23 Annual National Shadow Budget by IPFK™ for Kenya is the second edition, and it is one of its kind in the country. The production of the Shadow Budget was supported by the integrated marketing firm Oxygéne Marketing and Communication Limited with the aim
Kenya’s economy has been on a path to recovery in 2021 following the easing of Covid-19 containment restrictions. As the economy rebounds, the country heads into an election year. Against this background, the Parliamentary Budget Office recently released the 13th edition of the Budget Options
By: John Mburu The EGCL Institute recently conducted a study on the impact that Government domestic borrowing has on private sector investment in Kenya. In summary, the study established that Government domestic borrowing can affect private investment negatively by reducing the amount of credit available
Kenya’s economy has been on a path to recovery in 2021 following the slump in 2021 occasioned by the negative effects of the Covid-19 pandemic. It is against this recovery background that Kenya’s 2022 Budget Policy Statement (BPS) is based upon. Kenya’s economy rebounded strongly
This week, the International Court of Justice( ICJ) ruled on the maritime dispute between Kenya and Somalia . The bone of contention was in which direction each of the country’s borders extends into the Indian Ocean. Somalia said the boundary should run in the same
The evolution of African policy and interests in legal cannabis production continues to gain traction. In October 2020, the Rwandan Cabinet approved regulatory guidelines for the production and processing of medicinal cannabis for export. Including Rwanda there are now ten countries in the region clearly
Today we mark exactly one year since Kenya recorded its first case of COVID-19 on 12th March, 2020.In its wake, the coronavirus disease has left our national consciousness wounded and scarred, every aspect of our life tested to the limit. The COVID enemy has remained
In the MTEF period 2017/18-2019/20, the total approved budget for the sector’s programmes and sub programmes was 78.9 Billion Ksh, while the actual expenditure was 66.47 Billion Ksh.
This represented 84.6% absorption level.
The Kenyan economy is currently facing significant challenges as a result of the COVID-19 (C19) exacerbating an already grim situation. Despite having attained a lower middle income status in 2014, Kenya has failed to adequately address institutional and structural inadequacies that have continued to hinder
The National Treasury has finalized the Draft 2021 Budget Policy Statement for the MTEF FY 2021/22 -2023/24 budget which is available at the National Treasury website www.treasury.go.ke. and it invites comments on it.
Per statistics by the World Bank, Kenya is set for a relatively short setback from COVID-19 with a s 4 percentage-point dip in growth this year, and 5.2 percent growth returning in 2021. This is still a permanent loss of 5 percent of GDP over
In his key note at the opening of the opening of the public Hearings on the FY 2021/22 and the medium-term Budget proposals at the Kenyatta International Convention Center on 25th November 2020, CS Ukur Yatani addressed the public on various elements of financial planning
The Kenya budget cycle is well on its way and is in fact half way through with the National Treasury and Planning having just concluded the public hearings for FY 2021/22 and Medium-Term budget proposals. The budget is the most important policy through which the
Growth in broad money supply, M3, improved to 10.7
percent in the year to September 2020 compared to a
growth of 6.5 percent in the year to September 2019.
Ideally, removing the non-tariff barriers that remain the biggest hindrance to continental trade can foster regional integration, which must play a key role in the crisis recovery strategies in Africa.
It’s impossible to overstate how much Congress cares about agriculture – US agriculture is very productive, and we now want to work out how to sell it.” – A Senior USTR Adviser, 2020
The outbreak of the Covid-19 pandemic in 2019 has caused the most severe global economic setback. Its impact to our economy includes:
-Loss of lives
-Decline in demand of Kenya’s goods and services,
-Decline in household earnings,
-Heavy public expenditures towards health sector and social
-Decline in revenue due to subdued economic activities.
Kenya’s GDP is projected to decline to 2.5 % in 2020 compared to a growth of 5.8 % in 2019.
The AfCFTA offers a unique opportunity to develop an inclusive trade system and economic model by increasing intra-continental trade; but in order to trade, Africa first has to produce; and not just primary commodities. However, the AfCFTA will only promote intra-African trade if governments actually implement it
A population estimated at 1.3 billion predominantly made up of young people and with an
abundance of natural resources, Africa presents market opportunities, a growing labour force
and raw materials for manufacturing.
As we walk the path to economic recovery, we need to work towards resuscitating the evening
economy while keeping safe.