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  • Kenya smallholder tea farmers earn Sh63.6 billion from tea exports

  • Forex 31.07.2015

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World Bank approves new development strategy to help Kenya boost economic growth

By JK Mwangi

The World Bank Group today endorsed a new five year development strategy to help Kenya succeed in its efforts to boost economic growth sustainably.Social and economic inequality has widened over the yearsSocial and economic inequality has widened over the years

The strategy will also help the country create more jobs for young people, build vital infrastructure, and devolve power to regional communities in order to end extreme poverty and share prosperity among all Kenyans.

The shilling under pressure from the corporate, says CBK

By Ben Kinyanjui

The Central Bank of Kenya has broken silence over the depreciating shilling saying it had come under increased pressure.CBK says there is enough foreign reserves to cover importsCBK says there is enough foreign reserves to cover imports

In a brief statement, CBK says the pressure is attributed to seasonal factors as corporations pay out dividends to external shareholders.

China and Kenya signs 15 agreements to enhance cooperation

By JK Mwangi and Kazungu Chai (PSCU)

Kenya and China have signed 15 agreements ranging from trade, energy and Technical Corporation to wildlife conservation Chinese Premier Li Keqiang signed the agreements that include energy, agriculture and technical assistance(PHOTO-PSCU) Chinese Premier Li Keqiang signed the agreements that include energy, agriculture and technical assistance(PHOTO-PSCU).

The documents signed at a ceremony witnessed by President Uhuru Kenyatta and Chinese Premier Li Keqiang, included an exchange of notes on provision of materials for wild animals protection, a move that will enable China to contribute resources towards the protection
of Kenya’s wildlife.

Kenya and China signs Standard Gauge Railway financing

BY JIBRIL ADAN-PSCU

Kenya and China have signed an agreement on the financing of the first phase of the Standard Gauge Railway project.Chinese Premier Li Keqiang (right) and President Kenyatta before signing the financial agreement in Nairobi (PHOTO-PSCU)Chinese Premier Li Keqiang (right) and President Kenyatta before signing the financial agreement in Nairobi (PHOTO-PSCU)

President Uhuru Kenyatta was joined by Chinese Premier Li Keqiang and three Heads of State from the East African region to witness the signing ceremony at State House, Nairobi.

Chinese Premier Li Keqiang to sign railway financing agreement with EAC leaders

By Ben Kinyanjui and PSCU

Chinese Premier Li Keqiang who arrived in Nairobi Friday at the start of a three-day state visit is expected to meet with key leaders from the East African Community (EAC) for talks on infrastructure development.Chinese Premier Li Keqiang arrived in Nairobi Friday for crucial talksChinese Premier Li Keqiang arrived in Nairobi Friday for crucial talks

Mr Keqiang will on Sunday sign the Standard Gauge Railway Agreement between the Chinese government and regional leaders President Uhuru Kenyatta, Rwandan President Paul Kagame and Ugandan President Yoweri Museveni

Tourism sector to suffer credit squeeze due to terror attacks, says banks

By JK Mwangi

Commercial banks are expected to reduce lending to the tourism sector and agriculture due to perceived risks associated with terrorism and unfavourable weather.Tourism is expected to suffer due to frequent terror attacksTourism is expected to suffer due to frequent terror attacks

According to a credit officer survey done by the Central Bank of Kenya (CBK) says most credit officers interviewed said they foresee a slight increase in non-performing loans (NPLs) in the agriculture, tourism and real Estate sectors.

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