World Bank Stories

IMF revises Kenya’s 2025 growth forecast upward to 4.8 per cent
Alfred Onyango  |  Oct 17, 2025

Kenya’s upgraded forecast comes amid signs of recovery in key sectors such as agriculture, services, and construction, as well as improving investor s...

Kenya’s foreign exchange reserves hit all time high on new Eurobond
Alfred Onyango  |  Oct 17, 2025

With large debt-service payments looming in early 2026, the current cushion offers the government greater breathing room to plan repayments without pu...

Kenya’s economic activity set for strong year-end boost, says CBK
Alfred Onyango  |  Oct 15, 2025

CBK this month lowered the base lending rate to 9.25 per cent from the previous ceiling of 9.5 per cent, marking the eighth consecutive reduction.

NCBA Bank unveils new next-generation transaction platform for corporates
Alfred Onyango  |  Oct 15, 2025

The lender notes that the improved transaction timelines will allow businesses to operate more efficiently and respond swiftly to changing market dema...

Gaza humanitarian crisis escalates as Israel cuts aid over delayed return of dead hostages
Lucy Mumbi  |  Oct 14, 2025

According to a note seen by Reuters and confirmed by the UN, no fuel or gas will be allowed into Gaza except for specific humanitarian infrastructure...

Experts warn developing nations’ debt burden denies millions essential services
Bashir Mbuthia  |  Oct 14, 2025

The appeal comes as many developing nations struggle with high interest rates, currency depreciation, and worsening climate shocks — factors that have...

Jobs created in Africa mostly low-quality, informal - World Bank
Alfred Onyango  |  Oct 11, 2025

In its latest edition of Africa’s Pulse report, the lender reckoned that wage jobs and productive employment are scant in the region, as medium-sized...

Kenya seeks World Bank, EU support to remove toxic asbestos roofs
Maureen Kinyanjui  |  Oct 11, 2025

Asbestos, once a popular building material in the 1970s for its heat and sound resistance, was banned in Kenya in 2006 after it was linked to severe i...

Global economic outlook dims as IMF warns of prolonged uncertainty
Alfred Onyango  |  Oct 10, 2025

While the IMF’s most recent forecast in July projected global GDP growth at 3.0 per cent for 2025, down from 3.3 per cent in 2024, new projections exp...

World Bank urges Kenya to raise excise taxes to clear Sh526 billion pending bills
Lucy Mumbi  |  Oct 09, 2025

The World Bank has recommended that Kenya raise excise taxes on select goods, including alcohol, tobacco and sugary drinks, to generate revenue for se...

Senator Tabitha Mutinda appointed to global board on World Bank, IMF
Maureen Kinyanjui  |  Oct 09, 2025

Senator Tabitha Mutinda's election is widely seen as recognition of Kenya’s increasing role in shaping discussions on governance, accountability, and...

Kenya confident of new IMF funding deal amid improved economic outlook
Alfred Onyango  |  Oct 08, 2025

The final details of the new IMF-funded program are expected to be announced following the conclusion of the talks on Thursday. The recently concluded...

Senate sets stage for tough action against counties with undeclared bank accounts
Maureen Kinyanjui  |  Oct 08, 2025

The committee, chaired by Wajir Senator Mohamed Abass, wants the Public Finance Management (National Government) Regulations, 2015, revised to spell o...

Kenya spends Sh7 of every Sh10 collected on debt repayment - report
Maureen Kinyanjui  |  Oct 08, 2025

Unlike external loans that face strict lender scrutiny, domestic borrowing remains largely unchecked, making it more prone to misuse.

World Bank raises Sub-Saharan Africa growth forecast to 3.8 per cent for 2025
Lucy Mumbi  |  Oct 08, 2025

The World Bank cited falling inflation, stabilising currencies and renewed investment in major economies such as Ethiopia, Nigeria and Côte d’Ivoire.

Banks urge CBK to cut base rate to spur private sector lending
Lucy Mumbi  |  Oct 06, 2025

Commercial banks argue that low inflation, a stable exchange rate and strained private sector credit make a strong case for further easing of the Cent...

Private sector activities rise for the first time in five months in September
Alfred Onyango  |  Oct 04, 2025

The latest Stanbic Bank's Purchasing Managers’ Index (PMI), which gauges the level of private sector activities, rose to 51.9 during the month, from 4...

Turkana validates new investment plan for sustainable water use
Issa Hussein  |  Oct 04, 2025

James Ikeny Loyelei (Kanamkemer MCA), the Water, Sanitation, Environment, and Climate Change Committee chair, emphasised the need to strengthen water...

Bank manager accused of embezzling Sh52 million charged
Maureen Kinyanjui  |  Oct 04, 2025

The manager was charged with theft by servant, acquisition and possession of proceeds of crime, use of proceeds of crime, forgery, and uttering false...

Kenya secures Sh193 billion loan to cut borrowing costs, boost stability
Maureen Kinyanjui  |  Oct 03, 2025

According to the Treasury, clearing the earlier debt avoids higher interest costs in the future and spreads repayments over a longer period, providing...

Business, emergency needs top reasons for loans in Sub-Saharan Africa, study finds
Alfred Onyango  |  Oct 03, 2025

Mobile lending apps lead in most markets, especially Uganda (37 per cent), Ghana (33 per cent), Kenya (30 per cent), Tanzania (27 per cent), and Niger...

Pressure mounts on finance executives to operationalise County Assembly Funds
Maureen Kinyanjui  |  Oct 02, 2025

The law requires each county to set up a County Assembly Fund, managed by the clerk, to receive and retain all assembly monies. Any withdrawals must b...

CBK threatens daily penalties as eight banks defy lending rate cuts
Maureen Kinyanjui  |  Oct 02, 2025

Only six institutions: Citibank N.A. Kenya, Absa Bank Kenya, Credit Bank, Standard Chartered Bank Kenya, Stanbic Bank Kenya and Victoria Commercial Ba...

Citibank leads with lowest lending rate at 10.85 per cent in August rankings
Charity Pancras  |  Oct 01, 2025

Ecobank Kenya and Guardian Bank charged 12.96 per cent and 13.63 per cent, respectively, still below many other institutions.

Court bars businessman Kung’u Muigai from defaming Justice Isaac Lenaola
Carolyne Kubwa  |  Oct 01, 2025

According to court documents, Kung'u Muigai is alleged to have linked Justice Lenaola and other senior judges to corruption and further insinuated the...

Africa’s 2030 electrification mission surges, connecting 30 million in first year
Alfred Onyango  |  Sep 30, 2025

The World Bank committed to providing electricity access to 250 million people, with the African Development Bank (AfDB) aiming to reach an additional...

Congestions, delays push Mombasa Port to position 375 of 403 worldwide- World Bank
Maureen Kinyanjui  |  Sep 30, 2025

While Kenya’s main gateway struggles, other regional ports are recording improvements. Dakar in Senegal has moved from a CPPI of –82 in 2023 to 23 in...

Counties face tightened oversight as Controller of Budget gains access to bank accounts
Maureen Kinyanjui  |  Sep 30, 2025

The reform introduces a new layer of oversight over county finances, allowing the budget controller to track cash movements and flag questionable acti...

Senate launches probe into Sh14.5 billion currency printing deal over irregularities
Lucy Mumbi  |  Sep 29, 2025

The inquiry seeks to establish whether the Central Bank of Kenya (CBK) bypassed procurement laws and approved direct sourcing of German firm Giesecke+...

CBK to roll out compensation rules for e-money and digital wallet fraud
Lucy Mumbi  |  Sep 29, 2025

The initiative seeks to address gaps in recourse mechanisms for digital wallets and improve safeguards for users of digital financial services (DFSs).

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