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Originally published by Capital Business
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business
July 10, 2026
1h ago

World Bank warns oil price shock could push 2.4mn Kenyans into poverty

World Bank warns oil price shock could push 2.4mn Kenyans into poverty

The lender said higher fuel prices are increasing transport and food costs, eroding household purchasing power and raising operating expenses for businesses, threatening recent gains in economic recovery...

✨ Key Highlights

The World Bank has issued a stark warning that rising global oil prices, exacerbated by conflict in the Middle East, could plunge between 1 million and 2.4 million more Kenyans into poverty this year.

  • A warning that the oil price shock could push 2.4 million Kenyans into poverty.
  • The warning comes from the World Bank.
  • The report also revises Kenya's economic growth forecast down to 4.3 percent for 2026.

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