Nairobi, Kenya – January 18, 2025 Pavin Kiptoo emerged as the star of the Muiaa Labs Cypherium Hackathon, taking home the grand prize of $1,000 for his groundbreaking real-time blockchain transaction platform. The event, held at Nairobi’s Gem Suites and proudly sponsored by Muiaa Ltd, brought together top developers in a 24-hour coding marathon aimed…
Nairobi Kenya: A total of 23 commercial banks in Kenya have lowered their lending rates following successive interest rate cuts by the Central Bank of Kenya (CBK). The move is expected to make borrowing more affordable and stimulate economic activity across various sectors. According to data released in December, the average lending rate declined to…
In a surprising move, the Energy and Petroleum Regulatory Authority (EPRA) has announced that fuel prices will remain unchanged for November. This decision comes at a time when global oil markets have been experiencing significant fluctuations, leaving many Kenyans relieved but curious about what it means for the economy and their daily lives. In its…
Kenya’s economy is set for a slowdown, with growth projected to ease to 5.0% in 2024 and 2025, according to the International Monetary Fund (IMF). This adjustment comes as global economic pressures persist and Kenya grapples with a volatile macroeconomic landscape, including high inflation, currency depreciation, and debt obligations. Here’s what the IMF’s prediction could…
Kenya’s banking sector has announced an unprecedented financial commitment of KSh 450 billion to support Micro, Small, and Medium Enterprises (MSMEs). This move reflects the sector’s dedication to bolstering the backbone of the economy—MSMEs—which account for over 80% of Kenya’s employment. With this significant capital injection, the banks aim to uplift small businesses, empowering them…
