Business & Economy
Featured News Stories
KRA Names Lilian Nyawanda Acting Boss as Humphrey Wattanga Exits
The Kenya Revenue Authority has appointed Lilian Nyawanda as its Acting Commissioner General, succeeding Humphrey Wattanga who is proceeding on terminal leave immediately. The KRA Board decided not to renew Wattanga's contract, with Wattanga being ousted just four months before his term was set to end. KRA will auction unclaimed goods held at customs warehouses after a 30-day notice period expires on April 27, with items from Kenya Power, US Embassy, and Coca-Cola. Separately, Kenya Union of Savings and Credit Co-operatives Limited faces a compulsory winding-up petition due to unpaid debts totaling Sh108.8 million.
Oil Plunges After US-Iran Ceasefire Deal to Reopen Strait of Hormuz
Global oil prices have plunged following a conditional two-week ceasefire agreement between the United States and Iran, which includes the reopening of the vital Strait of Hormuz. Drivers in parts of Baringo County are experiencing a diesel shortage, with reports linking the supply chain disruptions to ongoing tensions in the Middle East. Airlines worldwide are implementing emergency measures, including cutting flights and increasing fares, in response to a surge in jet fuel prices stemming from the US-Israeli conflict with Iran.
KRA Gets Sh17.6bn to Increase Tax Collection
The Kenyan Government has allocated an additional Sh17.6 billion to the Kenya Revenue Authority for the 2025/2026 financial year, aiming to boost tax collection and reduce public borrowing. Meanwhile, Kenyan Members of Parliament have summoned Cabinet Secretary Amina Wandayi to appear before a parliamentary committee amid a deepening fuel importation scandal and calls for his removal. At the same time, the Kenya Bankers Association is urging the Central Bank of Kenya to maintain the benchmark policy rate at 8.75 percent due to escalating global risks.
E-commerce Boom Lifts Couriers as Postal Services Decline
Kenya's booming e-commerce sector is fueling growth for private courier firms while traditional postal services experience a decline. Alameda Healthcare Group, an Egyptian medical provider, has officially launched its operations in Kenya with a new specialised medical facility in Nairobi. In Siaya County, residents are legally challenging the proposed Ramula-Mwibona gold mining and processing project, demanding an immediate halt to related public participation processes.
Greece to Ban Social Media Access for Children Under 15 from 2027
Greece will implement a ban on social media access for children under 15 years old, effective January 1, 2027. A former Meta employee is under investigation by the Metropolitan Police for allegedly downloading approximately 30,000 private Facebook photos, with the engineer believed to have created a program to bypass security measures. New research suggests that the blue light emitted from phones and screens is not the primary cause of sleep disruption, despite popular belief.
