Business & Economy
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Counties must stop signing contracts they cannot afford
Kenyan county governments are facing a significant crisis by signing contracts without the financial capacity to fulfill them, leading to billions in pending bills owed to suppliers and contractors. At the same time, Kenyan families are struggling to cope with a high cost of living, forcing many to reduce consumption, seek additional income, and adjust their spending habits amidst rising inflation. Rising fuel prices in Kenya are triggering a significant chain reaction, impacting everything from food costs to transportation and household budgets. Moreover, the government has postponed plans for income tax relief targeting low-income earners due to an anticipated Sh35 billion revenue shortfall.
Kenya, France sign 11 deals on rail, ports, energy and digital economy
Kenya and France have signed 11 agreements to boost cooperation in key sectors including transport, energy, and the digital economy. The deals were finalized at State House Nairobi following discussions between President William Ruto and President Emmanuel Macron. Meanwhile, Nigerian billionaire Aliko Dangote is considering a shift for his proposed multi-billion dollar oil refinery project, potentially moving it from Tanzania to Mombasa, Kenya. In another development, the National Assembly has initiated public consultation on the Finance Bill 2026, which proposes significant tax changes across various sectors, including a proposed 25% excise duty on mobile phones that could make smartphones unaffordable for low-income households.
Trump and Xi are set to meet. Where do US-China tariffs stand?
US President Donald Trump is set to meet with China's President Xi Jinping in Beijing from May 13-15, marking a significant moment for US-China trade relations. This visit will test a fragile trade truce between the world's two largest economies. Separately, the inaugural Africa-China Investment and Trade Conference is set to take place in Guangdong Province from September 24-25, aiming to significantly deepen economic ties between the two continents.
