Author: Damaris Gatwiri

Kenyan cooperative leader Macloud Malonza has been elected President of the International Co-operative Alliance (ICA) Africa, marking a significant milestone for Kenya’s cooperative movement on the continental stage. Malonza, who previously served as ICA Africa Vice President, was elevated to the top leadership position following elections held by the regional cooperative body. Congratulating him on the achievement, Principal Secretary for the State Department for Cooperatives Patrick Kilemi described the election as a recognition of Malonza’s distinguished leadership and long-standing contribution to the cooperative sector. “This well-deserved achievement reflects your distinguished leadership and many years of dedicated service to the cooperative…

The European Union (EU) Delegation to Kenya and Equity Group Foundation (EGF) have signed a partnership agreement aimed at expanding access to quality education, strengthening human capital development, and increasing global learning opportunities for high-achieving students in Kenya and across the region. The cooperation agreement was signed by the EU Ambassador to Kenya, Henriette Geiger, and Equity Group Foundation Executive Chairman and Equity Group Managing Director and CEO, Dr. James Mwangi. The signing ceremony was witnessed by Principal Secretary for the State Department for Higher Education and Research, Dr. Beatrice Inyangala, and Principal Secretary for the State Department for Science,…

Simba Corporation’s vehicle assembly subsidiary, Associated Vehicle Assemblers (AVA), plans to invest Sh1 billion in a dedicated electric vehicle (EV) assembly line at its Mombasa plant as it seeks to capitalize on growing demand for locally assembled electric vehicles. The investment will support the installation of specialized EV assembly equipment, modifications to the factory layout, and the training and certification of technical personnel, according to the company. AVA told Business Daily that it will fully fund and develop the assembly line as part of its strategy to strengthen Kenya’s emerging electric mobility sector. “Associated Vehicle Assemblers, part of the Simba…

Kenya spent more than Sh1.35 trillion on debt repayments during the first nine months of the 2025/26 financial year, highlighting the growing burden of public debt and the country’s exposure to exchange rate fluctuations, according to a new report by the Controller of Budget (CoB). The National Government Budget Implementation Review Report shows that Sh763.21 billion was spent on servicing domestic debt, while Sh588.85 billion went towards external debt obligations in the period ending March 31, 2026. The Controller of Budget warned that Kenya remains vulnerable to currency risks, noting that 52 per cent of the country’s external debt is…

Kenya’s Family Bank will begin trading its shares on the Nairobi Securities Exchange (NSE) on June 23 after securing approval from the Capital Markets Authority (CMA), becoming the latest financial institution to join East Africa’s largest securities market. The lender will be listed by way of introduction, a process that allows existing shareholders to trade their shares publicly without the issuance of new stock. The move is expected to enhance liquidity for shareholders while expanding investment opportunities in Kenya’s banking sector. The listing follows a successful capital-raising exercise in 2025, during which Family Bank raised Sh8 billion through a private…

Electricity costs declined by Sh0.27 per kilowatt-hour (kWh) in June, offering relief to households and businesses facing rising operational expenses, Energy and Petroleum Cabinet Secretary Opiyo Wandayi has announced. According to Wandayi, the reduction was driven by a decline in the Foreign Exchange Adjustment component, lower Fuel Energy Costs (FEC), and increased electricity generation from hydropower plants. The Cabinet Secretary made the remarks following a meeting with representatives from the manufacturing sector, where he reaffirmed the government’s commitment to maintaining affordable and predictable energy costs to support economic growth and industrial competitiveness. “Our priority as Government is to ensure the…

Transferring money from FNB to Capitec is a common banking transaction in South Africa. The time it takes for the funds to reflect in the recipient’s account depends on the payment method used, the time of day, and whether the transfer is made on a business day. Understanding how long a transfer from FNB to Capitec takes can help you choose the best option for your needs. Know the Typical EFT Transfer Time A standard EFT is the most common transfer method between banks. These payments are usually processed during business days and may not reflect immediately. Typically takes 1…

A pension fund payout provides access to retirement savings after retirement, resignation, retrenchment, or other qualifying events. The time it takes for a pension fund to pay out depends on the fund administrator, the type of claim, and whether all required documents have been submitted correctly. Understanding how long a pension fund takes to pay out can help you plan your finances and avoid unnecessary stress during the process. Submit All Required Documents The payout process usually begins once the fund receives a complete claim. Missing or incorrect information can cause delays. Complete all claim forms accurately Submit identification documents…

Meat is a rich source of protein, vitamins, and minerals that can be an important part of a balanced diet. After eating meat, your body breaks it down and absorbs its nutrients through the digestive system. Understanding how long meat takes to digest can help you learn more about digestion and how different foods affect your body. The exact digestion time varies depending on the type of meat, portion size, and individual factors. Understand the Digestive Process Digestion begins in the stomach and continues through the small intestine. Your body uses enzymes and stomach acids to break down proteins and…

The Moon is Earth’s closest natural neighbor in space and has fascinated people for centuries. Traveling to the Moon is a remarkable achievement that requires powerful spacecraft, careful planning, and precise navigation. Understanding how long it takes to travel to the Moon helps explain the challenges of space travel and the technology needed to reach another world. Know the Average Travel Time The time required to reach the Moon depends on the spacecraft and mission design. Most crewed missions take several days to complete the journey. Typical travel time is about 3 days Some missions may take slightly longer Travel…

Renewing a driver’s license is an important process that allows you to continue driving legally after your current license expires. The time it takes to renew a driver’s license can vary depending on your location, the application method, and whether additional requirements such as vision tests or document verification are needed. Understanding how long the process takes can help you plan ahead and avoid unnecessary delays. Understand the Application Process The renewal process usually involves submitting an application, providing identification, and paying the required fee. Some locations also require additional checks before approval. Complete the renewal application Provide the required…

The High Court has ordered the Kenya Revenue Authority (KRA) to refund Pernod Ricard Kenya Sh29.4 million after finding that the tax authority failed to determine the company’s refund application within the statutory period required by law. In its ruling, the court dismissed KRA’s appeal against a decision by the Tax Appeals Tribunal, which had found that the authority’s delayed response effectively validated the liquor firm’s refund claim under the Tax Procedures Act. The dispute arose after Pernod Ricard Kenya, a subsidiary of global wines and spirits manufacturer Pernod Ricard, applied for tax refunds on December 6, 2022. The company…

Auditor-General Nancy Gathungu has cautioned that ambitious revenue projections under the Finance Bill, 2026 may not be realised unless the National Treasury and the Kenya Revenue Authority (KRA) address structural leakages and unrealistic forecasting. Appearing before the National Assembly Departmental Committee on Finance and National Planning, chaired by Hon. Kuria Kimani, Gathungu presented audit findings on the performance and challenges facing the tax authority amid efforts to raise projected revenues to Sh3.63 trillion for the 2026/2027 financial year. While noting that the Finance Bill, 2026 introduces wide-ranging tax policy and administrative reforms aimed at broadening the tax base and supporting…

Car & General has unveiled a new liquefied petroleum gas (LPG)-powered Piaggio three-wheeler in Kenya, positioning it as a cost-effective and environmentally friendly transport solution for operators grappling with rising fuel costs. The company launched the Piaggio Ape NXT+ LPG in Nairobi during an event attended by Car & General Chief Executive Officer Vijay Gidoomal and Kenya Association of Manufacturers (KAM) Chief Executive Officer Tobias Alando. According to the company, the new model is designed to reduce operating expenses through lower fuel consumption, with operators expected to save more than 30 per cent compared to conventional petrol-powered three-wheelers. Car &…

South Africa’s Vodacom is poised to gain majority control of Safaricom following a proposed acquisition of the Kenyan government’s 15 per cent stake in the telecommunications giant, a move that would elevate its shareholding to 55 per cent and make Safaricom a subsidiary of the Vodafone Group. Disclosures by Vodafone Group indicate that the transaction would also give Vodafone Kenya Limited (VKL) significant influence over the appointment of Safaricom’s Chief Executive Officer, potentially marking a return to expatriate leadership at the Nairobi Securities Exchange-listed firm. Vodacom currently owns a 39.9 per cent stake in Safaricom through Vodafone Kenya. The acquisition…