KBC Channel 1

Author: Ronald Owili

  • Oparanya rallies farmers in western Kenya to embrace coffee farming

    Oparanya rallies farmers in western Kenya to embrace coffee farming

    Farmers in western Kenya have been urged to consider coffee farming as a source of income amid government reforms which continue to offer famers better returns.

    Speaking in Busia County, Cooperatives Cabinet Secretary Wycliffe Oparanya encouraged farmers to shift to coffee cultivation to improve their livelihoods.

    “For a long time, the Western region has relied on sugarcane and maize, but the returns have gone down. Our climate is favourable for coffee farming, which has much higher returns. One acre of coffee can yield more than Ksh 1 million within 2 to 3 years, making it a profitable venture,” said Oparanya.

    According to official data, total coffee production rose by 3.8pc to 51, 400 tonnes  last year from 49, 500 recorded in 2024.

    Cooperatives accounted for the largest portion of coffee produced after rising by 5.4pc to 36,800 tonnes while estates production remained stagnant at 14,600 tonnes.

    Opranya noted that the government has heavily invested in promoting coffee farming through the provision of seedlings and training of extension officers to support farmers.

    “We are training two extension officers from every ward in the country to guide and monitor coffee farmers. We have also distributed seedlings to many farmers to encourage coffee production,” he added.

    The overall area under coffee expanded by 400 hectares to 113, 900 hectares as area under cooperatives increased from 85,000 hectares in 2023/24 to 85,300 hectares in 2024/25.

    Oparanya further revealed that plans are underway to register a cooperative SACCO in the Western region to empower farmers economically.

    “We want to establish a strong cooperative in Western Kenya with over 300,000 members by December and eventually expand it nationwide to one million members. Through this cooperative, farmers will be able to address challenges such as school fees and SHA payments,” he said.

    During the sensitisation, the he distributed coffee seedlings to the farmers and assured the government commitment to ensure the farming has been supported.

  • President William Ruto signs key bills into law

    President William Ruto signs key bills into law

    President William Ruto has signed into law the Income Tax Bill, the Special Economic Zones (Amendment) Bill, and the Technopolis Bill.

    The new laws are streamlining Kenya’s regulatory framework to strengthen the country’s position as an attractive investment destination, by creating a more efficient, predictable, and competitive business environment.

    The Income Tax Act seeks to rationalise the administration of Capital Gains Tax in order to align Kenya’s tax regime with international best practices and recognised principles of taxation, while reinforcing the gains made in improving the ease of doing business.

    The changes will exempt Capital Gains Tax on transfers of property undertaken as part of internal company reorganisations where there is no actual economic gain or third-party transaction.

    The amendment is also intended to support efficient business restructuring, promote tax neutrality, and preserve the tax base by ensuring tax is only imposed when a genuine external realisation of value occurs.

    The Special Economic Zones Act seeks to enhance Kenya’s competitiveness by expanding the scope of Special Economic Zones to include oil and gas zones, and harmonising the tax incentives applicable to entities undertaking activities within the zones.

    The law also strengthens the Special Economic Zones framework by aligning it with the operational realities of large-scale capital investments through the provision of a minimum licence tenure of ten years to accommodate the long project cycles associated with such investments.

    The legislation further expands the scope of Special Economic Zones to support strategic sectors of the economy, including agro-processing, manufacturing, mining, advanced technology-driven production, and petroleum operations.

    The Technopolis Act establishes a comprehensive legal framework for the creation, development, and governance of technopolises in Kenya.

    The Act also establishes the Technopolis Dispute Resolution Tribunal to adjudicate appeals relating to licensing, enforcement of the law, and development decisions, in order to enhance fair administrative action and investor confidence.

    The Technopolis Act also establishes the Technopolis Development Authority as the successor to the Konza Technopolis Development Authority, with responsibility for the planning, development, and management of technopolises in Kenya.

    The law seeks to position Kenya as a leading destination for technology-driven enterprises, innovation, and research by establishing integrated one-stop hubs for the efficient delivery of government services.

    The framework is expected to attract global investment, talent, and innovation, while accelerating Kenya’s transition into a knowledge-based digital economy.

  • Kenya creates technopolis authority to develop Konza-like cities 

    Kenya creates technopolis authority to develop Konza-like cities 

    President William Ruto has signed into law the Tehnopolis Bill allowing for the creation of Technopolis Development Authority (TDA) to manage the creation, development, and management of Technopolises in Kenya.

    TDA as provided for in the act will succeed the Konza Technopolis Development Authority which has been responsible for the development of  Konza City.

    Under the law, TDA will be responsible for planning, developing, and managing Technopolises which will be established in Kenya.

    “The Authority will allocate land to investors, approve developments, issue construction permits, and operating licenses within a Technopolis,” read a brief from the National Assembly.

    The act is further expected to position Kenya as a premier destination for global technology-driven businesses, research institutions, and innovation centers by providing world-class, state-of-the-art infrastructure.

    Additionally, TDA will also administer a one-stop shop and centralized hub to streamline the provision of government services in order to create a conducive business environment that attracts global investors.

    The Tehnopolis Act also gives TDA powers to facilitate research and innovation through partnership and collaboration with research institutions and by hosting critical government infrastructure, including data centers, research centres and centres of excellence.

    The law has also established the Technopolis Dispute Resolution Tribunal to adjudicate appeals related to licensing, enforcement of the Act, and development decisions by the Authority, thus ensuring fair administrative action and investor confidence.

  • Oil prices jump after Trump dismisses Iran proposal to end war

    Oil prices jump after Trump dismisses Iran proposal to end war

    Oil prices have risen after President Donald Trump said Iran’s response to US proposals to end the war was “totally unacceptable”.

    Tehran sent its response via Pakistan, which has served as a mediator between the two sides, calling for an immediate end to the conflict and guarantees of no further US-Israeli attacks on Iran, according to Iran’s semi-official Tasnim news agency.

    International oil benchmark Brent rose by 4.1% to $105.50 (£77.60) a barrel in Asian trade, while US-traded crude increased by 4.4% to $99.80.

    The key Strait of Hormuz waterway has been effectively shut since shortly after the war started on 28 February, severely disrupting global supplies of oil and gas.

    Responding to Tehran’s terms, Trump posted on social media: “I have just read the response from Iran’s so-called ‘Representatives.’ I don’t like it – TOTALLY UNACCEPTABLE.”

    Washington’s terms had included restoration of free transit through the Strait of Hormuz and the suspension on Iranian nuclear enrichment, according to US news outlet Axios.

    Israeli Prime Minister Benjamin Netanyahu also said the war with Iran will not be over until its enriched uranium stockpiles are “taken out”.

    A ceasefire announced in early April to allow time for peace talks has been mostly observed, despite occasional exchanges of fire.

    On 21 April, Trump extended the truce indefinitely to give Iran time to present a “unified proposal”.

    Energy prices have swung wildly since the start of the conflict, while Brent crude has risen back above $100 a barrel since the ceasefire came into effect on 8 April.

    The Strait of Hormuz, through which about a fifth of global oil and gas shipments usually passes, has been effectively shut after Tehran threatened to attack vessels that try to cross it in retaliation against US-Israeli strikes.

    Major energy companies have seen their profits jump as prices of oil and gas have soared on global markets.

    On Sunday, Aramco said its earnings had jumped by more than 25% in the first three months of the year compared to the same period in 2025.

    The Saudi Arabian energy giant’s cross-country pipeline has “proven itself to be a critical supply artery” and helped it avoid disruptions to shipping caused by the Iran war, said Aramco boss Amin Nasser.

  • Kenya’s e-mobility sector eyes French investments to push uptake

    Kenya’s e-mobility sector eyes French investments to push uptake

    Investors in the electric-mobility sector are eying increased investments from France during the upcoming Africa Forward Summit 2026 to accelerate adoption of e-bikes across the country.

    Local e-bike manufacturer Teketeke Managing Director Richard Chesebeh says the firm which currently assembles solarized electric two wheelers and three wheelers will leverage the summit to enter partnerships that would ensure uptake especially in areas which still to not enjoy grid power.

    “We find this summit as an opportunity to showcase our ability and to at least work with the partners especially the French who are coming to provide solution especially funding for our home-grown solutions in terms of charging stations, financial inputs to the various sectors that would want funding,” said Chesebeh.

    According to Chesebeh, the firm is targeting to attract at least Ksh 1 billion in investments during the summit which would go towards expansion of solarized charging infrastructure as well as financing customers to purchase the bikes.

    “We are looking at a pilot of approximately Ksh 1 billion to start off the project. If that is available we would be able to move in the entire country because what we really want to sort out is the notion that e-mobility is specifically meant for users in the urban areas.

    Chesebeh said the new investment would also place the firm on path to expand to regional markets as well as international markets as e-bike sales continue to rise.

    Teketeke is also riding on the design of its e-bikes which utilize solar energy for charging as well as the ability to charge the bikes at home to capture the market.

    “We make sure that we provide a bike, a charging cable and this charging cable is put in a manner that they can use the common 220kv-240kv Kenyan line. We also provide solar solution and you can charge from your home,” he stated.

    The firm which currently employs 450 directly and indirectly is also calling on the government to adopt a policy that would allow seamless conversion of available internal combustion engine bikes estimated at 2.5 million to electric in a bid to accelerate green transition.

    Kenya will host the Africa Forward Summit 2026 in collaboration with the French government where African countries and the European country will explore partnerships in innovation, economic transformation and sustainable development.

  • Stanbic Bank net profit up 5pc to Ksh 3.5B

    Stanbic Bank net profit up 5pc to Ksh 3.5B

    Stanbic Bank profit after tax has risen to Kh 3.5 billion in the first quarter of the year boosted by higher earnings from loan interests.

    According to the lender, the 5pc profit jump from Ksh 3.3 was on account of net interest income which rose by 12pc to Ksh 7.6 billion from Ksh 6.7 billion on expanded loan book and prudent cost and risk management.

    “Despite margin pressures in the first quarter of 2026 stemming from the lower interest rate environment, we responded decisively through disciplined cost and risk management, targeted lending growth, and continued expansion of our digital banking platforms, sustaining balance sheet momentum as private sector credit recovered,” said Dennis Musau, Stanbic Bank Chief Financial and Value Officer.

    The bank says increased lending helped offset margin compressions from consecutive policy rate cuts.

    Loans and advances grew by 6pc driven by foreign currency lending demand to clients in the trade, energy, building and construction sectors as the Central Bank of Kenya continued to ease its policy stance, aimed at stimulating lending and easing pressure on businesses and households.

    Stanbic Bank Kenya Chief Executive Officer Abraham Ongenge said during the quarter to March this year, the bank’s balance sheet expanded by 23pc.

    “We sustained balance sheet growth from mid‑2025, reflecting renewed momentum in the Kenyan economy, underpinned by improving market conditions and a rebound in private sector credit,” said Ongenge.

    The balance sheet grew from Ksh 450 billion to Ksh 552 billion driven by higher customer deposits and the recovery of private sector, which picked to 8.1pc in March.

  • Glovo to invest Ksh 10B in Kenya within four years

    Glovo to invest Ksh 10B in Kenya within four years

    Food delivery platform Glovo has announced plans to invest 10 billion shillings in Kenya by the year 2030 in an expansion drive that is expected to double the workforce to 1,200.

    Glovo Kenya Managing Director Caroline Mutuku says the new investment will support technology, operations and expansion to more towns in Kenya.

    “The opening of our new office reflects both the incredible growth we have seen and our long-term commitment to investing in local talent, technology, and partnerships that drive real impact. We are building a stronger ecosystem for partners, creating opportunities for young Kenyans, and delivering even greater convenience for customers across the country,” said Mutuku.

    Currently, the firm which has operations in 12 towns employs over 600 people, supports over 6,000 merchants and 2,200 active riders daily.

    Trade Cabinet Secretary Lee Kinyanjui lauded the firm for its role in helping grow the country’s Accommodation and Food Service sector by 15.6pc and ICT sector by 4.8pc as shown in the data by the Kenya National bureau of Statistics.

    He also noted that 75pc of Glovo’s economic impact flows directly to local businesses, reinforcing the government’s Bottom-Up Economic Transformation Agenda (BETA).

    “This investment is a strong vote of confidence in Kenya’s growing digital economy, the innovation of our young people, and Nairobi’s position as a leading technology and business hub on the continent,” he added when he officiated the opening of Glovo’s new regional headquarters in Nairobi.

    Expansion of digital platforms and technology-driven businesses is also supporting the growth of the ICT sector, accommodation and food services.

    “Throughout 12 cities, thousands of local merchants have digitized their storefronts with Glovo, while thousands of riders navigate the streets of Nairobi, Mombasa and Nakuru every day. Over 600 young people work in this office and throughout our African digital hub, based here in this country. In the next two years, we will double this to 1,200,” added Sacha Michaud, Glovo Co-founder and Vice-President of Global Affairs.

    According to the firm, last year alone, it contributed Ksh 9 billion to the local economy and generated at least Ksh 20 billion for local businesses since entering the market in 2019, 80pc of which has flowed to small and medium-sized businesses (SMBs).

  • Oil prices rise after US and Iran exchange fire in Hormuz strait

    Oil prices rise after US and Iran exchange fire in Hormuz strait

    Oil prices rose on Friday in Asia after the US and Iran exchanged fire in the key Strait of Hormuz waterway.

    The US military said it intercepted what it called “unprovoked” Iranian attacks – including missiles, drones and small boats – and carried out self‑defence strikes as its ships were heading out of the Gulf through the strait.

    In mid-morning trade, global oil benchmark Brent was up by 1.5% at $101.60 (£74.50) a barrel, as it eased back from a gain of more than 2% earlier in the session. US-traded oil was 1.1% higher at $95.87.

    It came after President Donald Trump said the US-Iran ceasefire, which he extended indefinitely on 21 April to allow more time for peace talks, is still in place.

    After the strikes, Trump told reporters that negotiations with Iran are ongoing, repeating Washington’s demand that Tehran must never have a nuclear weapon.

    “The talks are going very well, but they have to understand if it doesn’t get signed, they’re going to have a lot of pain”, he said.

    “I believe they want the deal more than I do.”

    Oil prices have risen again due to concerns that military action along the Strait of Hormuz could further threaten energy shipments through the crucial trade route, said associate professor Jiajia Yang from Australia’s James Cook University.

    Traders view the ceasefire as a “fragile” one, and have reacted accordingly even as the US and Iran play down tensions, said National University of Singapore economics researcher Huifeng Chang.

    Trump told reporters that three US destroyers were involved in the latest exchange of fire.

    Several Iranian small boats had been “completely destroyed” and missiles that had targeted the US ships were “easily knocked down”, he said on social media.

    Iran’s military accused the US of violating the ceasefire by targeting its ships, including an oil tanker, that were moving towards the Strait of Hormuz, according to Islamic Republic of Iran Broadcasting.

    It said “aerial attacks” were also carried out along the coastline near the strait, prompting Iranian forces to respond by attacking the US military vessels, inflicting “significant damage.”

    The US military has denied that its ships had been hit.

    US Central Command also said it was not seeking to escalate the conflict.

    Iranian state media later reported that the situation “is back to normal now”.

    Trump also told ABC News that the Iran strikes were “just a love tap”.

    This week, Trump said that the war, which started on 28 February when the US and Israel attacked Iran, will be “over quickly” as Washington pushes for a framework for more detailed negotiations with Tehran.

    Energy prices have surged since the start of the conflict after Iran threatened to attack ships in the critical Strait of Hormuz trade route in retaliation to the US-Israeli strikes.

    More than a fifth of the world’s oil and gas shipments usually pass through the waterway.

  • Number of affordable housing units completed rise to 6,738

    Number of affordable housing units completed rise to 6,738

    The government completed 5,083 more affordable units last year compared to 1,655 units completed the previous year, official data by the Kenya National Bureau of Statistics (KNBS) shows.

    According to the bureau, total number of residential housing units completed by the State Department for Housing and Urban Development (SDHUD) rose to 6,738 units as the government intensifies investments in Affordable Housing Programme (AHP).

    As a result, the value of completed housing units under AHP rose from Ksh 4 billion to Ksh 8.4 billion.

    “The increase was largely driven by the completed projects under the SDHUD which stood at 6,738 housing units valued at Ksh 7.2 billion in 2025 compared to 1,655 units valued at Ksh 4 billion in 2024,” said KNBS.

    Out of the 7,148 units completed last year, the National Housing Corporation (NHC) accounted for 410 units which were valued at Ksh 941 million.

    KNBS data further shows that as at December last year, a total of 205,311 housing units valued at Ks 500 billion were under construction.

    Out of the total units under construction, AHP accounted for the largest share with 138,474 units under construction valued at Ksh 385.8 billion.

    “Social housing projects had 53,350 units under construction with an estimated construction cost of Ksh 81.8 billion, while Institutional housing projects comprised 12,709 units with an estimated construction cost of Ksh 28.6 billion,” noted the bureau.

    Since December 2025, NHC had 778 housing units under construction with an estimated value of Ksh 3.7 billion.

    During the year, government achieved 96.3pc spending on the AHP after utilizing Ksh 76.1 billion to construct the units against a budget of Ksh 79 billion.

    In the current financial year, the state has set aside Ksh 116.7 billion for construction of affordable housing units which is 47.7pc increase when compared to the previous fiscal year.

    “This increase reflects the Government’s continued commitment to housing development under the AHP. In the 2024/25 financial year, the budget utilisation rate stood at 96.3pc compared to 32.6pc recorded in 2023/24,” the bureau said in the Economic Survey 2026.

  • ATAF, ETA sign agreement to enhance tax administration in Africa

    ATAF, ETA sign agreement to enhance tax administration in Africa

    The African Tax Administration Forum (ATAF) and the Egyptian Tax Authority (ETA) have signed an agreement to build tax capacity across Africa through trainings.

    The Memorandum of Understanding (MoU) between the two bodies, provides for the use of the ETA Tax Academy as a host facility for ATAF’s training activities and capacity-building programmes, with a particular focus on English and Arabic-speaking countries across Northern Africa.

    ETA Tax Academy will also serve as one of the ATAF continental hubs for training African tax officials, supporting knowledge exchange and strengthening institutional capacity across ATAF member countries.

    “This agreement is a declaration of intent—a shared commitment to build African tax capacity on African soil, anchored in African institutions,” said Mary Baine, ATAF Executive Secretary.

    The collaboration will focus on key priority areas for tax administrations, including audit effectiveness, VAT compliance, transfer pricing, exchange of information, digital economy taxation, and data analytics.

    The agreement builds on an established record of technical cooperation between ETA and ATAF.

    Signed in Cairo during a working visit by Baine and the Head of the Egyptian Tax Authority Rasha Abdel Aal Radi and in the presence of Egypt Finance Minister Ahmed Kouchouk, the MoU is expected to support the development of a coordinated training agenda and strengthen regional collaboration in tax administration, contributing to broader efforts to enhance domestic revenue mobilisation across the continent.

    This partnership forms part of ATAF’s overall regionalisation strategy and member centric approach, both aimed at bringing services closer to members for greater visibility and impact.