A surge in loan defaults by real estate, trade, and agricultural businesses saw them default on Sh30.9 billion in the first quarter of the year. This hefty rise in non-performing loans comes amid a time of rising interest rates, according to the latest review by the Central Bank of Kenya. Hefty Rise in NPLs According …

Arrivals of visitors through the main airports in Kenya hit a record high in the first quarter of this year following the new visa-free policy. Official statistics show that 409,164 visitors arrived at JKIA and Moi International Airport in Mombasa, an increase of 10 per cent from 370,570 visitors received last year. The increase came …

Moody’s has downgraded the ratings for KCB Bank Kenya, Equity Bank Kenya, and Co-operative Bank of Kenya, citing the weakened credit profile of the government. This move saw their long-term deposit rating fall to Caa1 from B3, with a negative outlook—the heightened risk of default is then linked with their high exposure to government debt …

Kenya has gazetted new taxation regulations on donations to charitable organizations and their utilization to plug evasion of taxation. This follows the Income Tax, Charitable Organisations and Donations Exemption Rules, 2024, which came into effect last month and replace the 2007 rules. Charity organisations, as acknowledged under the Income Tax Act, are exempt from income …

Brookside Dairy, one of the largest milk processors in Kenya has entered into a strategic partnership with the Kenya Association of Hotelkeepers and Caterers for better market visibility in the hospitality sector. This is meant to cash in on quality enhancement across its variety of dairy products tohalbigger volumes of this captive market. Mr. Joseph …