Latest from The Standard Business

5h ago

Borrowing spree: How expensive loans have pushed debt servicing to Sh862b

The Kenyan government has incurred substantial costs due to expensive domestic borrowing, with interest payments on local loans significantly outweighing those on external debt.

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8h ago

How Kenya's green energy revolution is attracting global climate capital

Kenya is emerging as a hub for global climate capital, leveraging its renewable energy potential to attract investment and drive industrialization. The recent Africa Forward Summit in Nairobi highlighted this trend, underscoring Kenya's critical position in the global green energy transition.

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8h ago

How Lapfund's mega development redefines Nairobi, tests infrastructure

The Local Authorities Provident Fund (Lapfund) is spearheading a significant transformation in Nairobi's South C neighbourhood with its Bellevue housing development.

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8h ago

Domestic debt hits Sh862b on borrowing spree

An Auditor General report has revealed that Kenya's National Treasury has resorted to expensive domestic borrowing, significantly increasing debt servicing costs.

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14h ago

Audit raises red flag as domestic debt hits Sh862b on borrowing spree

An Auditor General report has raised concerns as Kenya's National Treasury reportedly bypassed Parliament to access expensive domestic debt, leading to significant interest payments.

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1d ago

Lamu refinery eyes Africa's 86 million tonnes fuel import gap

A planned Lamu refinery is poised to address Africa's projected 86 million tonnes annual shortage of refined petroleum products by 2040, according to a new report.

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1d ago

Lamu refinery to plug into Africa's 86 million tonnes fuel import gap

A planned refinery in Lamu is poised to address a significant projected fuel import gap across the African continent. New analysis indicates a substantial rise in demand for refined petroleum products by 2040.

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1d ago

Lamu residents demand transparency in proposed Sh2.2 trillion oil refinery

Residents and leaders in Lamu are demanding transparency and full participation in the proposed Sh2.2 trillion oil refinery project, citing a lack of public information and fears of being excluded from benefits.

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2d ago

Kenya's economy creates more millionaires

Kenya's economy has seen an increase in the number of high-net-worth individuals (HNWIs), commonly known as dollar millionaires, in 2026 despite prevailing economic pressures. A new report indicates a substantial growth in this demographic.

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2d ago

Why civil society wants Kenya's Sh13 trillion debt discussed at dinner tables

Civil society organizations are urging Kenyans to engage in open discussions about the nation's substantial public debt, which stands at Sh13 trillion.

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2d ago

Why Kenya's middle class could be shrinking fast

Kenya's middle class is reportedly facing a significant contraction, with those perceived to be in this bracket often becoming targets during periods of social unrest.

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2d ago

Why public servants have less than a month to update pension records

Public servants across Kenya have until August 14, 2026, to update their pension records with the Public Service Superannuation Fund (PSSF). This initiative is part of a broader effort to modernize pension administration through a new digital system.

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3d ago

How Treasury diverted Sh30 billion Eurobond money to cover domestic debt

The National Treasury is facing scrutiny for allegedly diverting Sh30 billion from a recent Eurobond issuance to cover shortfalls in domestic debt, rather than its stated purpose.

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3d ago

Public servants given until August 14 to update pension records

Kenyan public servants have been given a deadline of August 14, 2026, to update their pension records as the government modernizes pension administration.

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3d ago

KenGen's ambitious 5,500 MW plan to deal with rising demand for electricity

KenGen has announced an ambitious expansion of its electricity generation capacity to 5,500 MW to address the rapidly increasing demand, with a significant focus on its Olkaria green energy park.

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3d ago

Treasury under fire for diverting Sh30 billion Eurobond cast to cover domestic debt

The National Treasury is facing scrutiny for allegedly diverting Sh30 billion borrowed via a Eurobond to cover domestic debt shortfalls, contrary to its initial disclosures.

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4d ago

Insurers bundle investments with cover as uptake stalls

Kenyan insurers are bundling investment products with life and health cover to combat stagnant insurance uptake, which remains significantly below the global average.

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4d ago

Asharami to breakground on KPRL, gas terminal in October

Nigerian firm Asharami Synergy is set to break ground on a new 30,000 metric tonne cooking gas storage facility at Kenya Petroleum Refineries Limited (KPRL) in October 2026. The project aims for completion before the end of 2028.

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4d ago

20 African nations approve formation of a regional maritime university

Over 20 African nations are moving forward with plans to establish the region's first unified maritime university. This initiative aims to address fragmented maritime education investment and create a centre of excellence for the continent's shipping industry.

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4d ago

New deal to give KDF home loans

The Kenya Defence Forces (KDF) is set to benefit from a new partnership that expands the Civil Servants Housing Mortgage Scheme, making home loans more accessible to its personnel.

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4d ago

US unveils new 25 per cent tariff on certain imports from Brazil

The United States has announced a new 25 percent tariff on various imports from Brazil, citing unfair trade practices. The levy is set to take effect on July 22.

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5d ago

Why Africa's middle class no longer wants to retire in the village

Africa's middle and upper classes are increasingly choosing to retire in modern, infrastructure-rich residential estates rather than returning to their ancestral villages.

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5d ago

KAA to modernise airports amid increased cargo and passenger traffic

The Kenya Airports Authority (KAA) is set to modernize Jomo Kenyatta International Airport (JKIA) and Moi International Airport (MIA) to handle increased passenger and cargo traffic.

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5d ago

Lamu refinery dream faces one major hurdle: Kenya's skills gap

Kenya's ambitious Lamu oil refinery project, a Sh2.2 trillion investment set to process 700,000 barrels of crude oil daily, faces a significant challenge: a shortage of skilled local workers to operate the modern facility.

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5d ago

Alternative building technologies touted as answer to Kenya's housing shortage

Alternative building technologies are being promoted as a vital solution to Kenya's critical housing shortage, offering cost reductions and improved access to decent homes.

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5d ago

Swedish firm bets on Kenya in regional expansion strategy

Swedish engineering firm Atlas Copco is expanding its presence in East Africa, with Kenya serving as its central hub for 14 countries. This strategic move marks 90 years of the company's operations in the region.

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5d ago

Biotech sector fast-tracks access to regulatory data with new portal

Africa's biotechnology and biosafety information has been centralized with the launch of the 'Biotech Africa Database' portal, a digital resource designed to streamline access to crucial regulatory data.

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5d ago

Safaricom, KPC receipts to push Kenya's forex reserves to 7-month high - CBK

Kenya's foreign exchange reserves are projected to reach a seven-month high, driven by significant inflows from the sale of government shares in Safaricom and receipts from the Kenya Pipeline Company (KPC) privatisation, alongside new funding from the World Bank.

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5d ago

State repeating costly errors of secrecy, debts in SGR extension to Malaba

The Kenyan government is reportedly repeating past mistakes of secrecy and accumulating debt with the Sh700 billion extension of the Standard Gauge Railway (SGR) to Kisumu and Malaba.

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5d ago

New programme mentors students into healthcare technology careers

A new initiative, the Smart Elevate Student Mentorship Program, has been launched to guide students into careers in healthcare technology across Africa.

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