Tag
WILLIAM RUTO
The Kenyan government has announced plans to invest in the proposed KSh2.2 trillion ($16 billion) Lamu oil refinery through the National Infrastructure Fund.
Dangote Group plans to spend about $50 billion in capital expenditure (capex) between 2026 and 2030, doubling the $25 billion it invested during the previous five-year period.
Dangote Group says its revenue has reached about $17 billion in the first half of 2026 and that it is on track to double full-year revenue to $36 billion from $18 billion recorded last year.
The IMF itself has admitted that the reforms have not yielded the desired outcomes. In its latest economic outlook for Sub-Saharan Africa, the Fund noted that the ongoing reforms have yet to deliver meaningful results.
Kenya’s government says it is planning to reintroduce tax measures from a controversial Finance bill withdrawn in June after deadly protests, aiming to raise an additional 150 billion shillings ($1.2 billion), according a report by Reuters.
Kenyan President William Ruto, on Wednesday withdrew proposed tax increases contained in the controversial finance bill 2024 in response to widespread protests.
Kenya is negotiating with a subsidiary of Nigeria’s Sahara Group Ltd. to jointly construct a 30,000-ton facility for handling and storing liquefied petroleum gas (LPG), according to sources familiar with the matter.
The Kenyan president, William Ruto, has announced that his administration is poised to privatize 35 state-owned companies which he said are underperforming due to inefficiency in bureaucracy, according to BBC.
President William Ruto announced on Saturday during his keynote address at the Three Basins Climate Change Conference in Brazzaville, Congo, that starting in 2024, visa requirements will be waived for African nationals planning to visit Kenya.
Fatih Birol, the Executive Director of the International Energy Agency (IEA), and the President of Kenya, William Ruto have called for a New Energy Pact for Africa.
Amidst fear of a potential default for sub-Saharan African countries, Kenya's president explains why his country will not default
The currency of East Africa's largest economy has fallen by 6.46% against the US dollar since January.