Kenya has told the International Monetary Fund it does not need its money — at least not before the financial year closes in June. Buoyed by billions of shillings flowing in from asset sales and bond markets, Treasury officials say the country has plenty of room to fund its budget without submitting to the fund’s…
Kenya’s Treasury is preparing to offer the struggling national carrier Kenya Airways to international investors in a landmark deal valued at up to Sh258 billion ($2 billion), marking the government’s latest attempt to rescue the debt-laden airline from years of financial turmoil.Treasury Cabinet Secretary John Mbadi announced Wednesday that an international expression of interest will…
Treasury Cabinet Secretary John Mbadi has terminated the appointment of trade unionist Seth Panyako to the Local Authorities Provident Fund Board, bringing an abrupt end to a tenure that began under the previous administration. The revocation, formalized through a Gazette Notice dated January 23, became effective immediately, removing Panyako from the board responsible for managing…
Kenya has secured an extension of three Chinese loans used to build the Standard Gauge Railway (SGR), pushing the final repayment deadline to 2040 and easing pressure on public finances. The National Treasury announced that the dollar-denominated loans have been converted to yuan, with a new four-year grace period on principal repayments introduced. This effectively…
Treasury Cabinet Secretary John Mbadi said Friday that Siaya Senator Oburu Oginga now holds sole authority to decide the Orange Democratic Movement’s political direction and any coalitions ahead of Kenya’s 2027 elections. Speaking in an exclusive Newsroom interview, Mbadi, a former ODM national chairman, sought to end weeks of speculation about the party’s future following…
Kenya’s government has sold a 15% stake in Safaricom to Vodacom Group for KSh244.5 billion, with Treasury Cabinet Secretary John Mbadi confirming that the entire amount will be channelled into critical infrastructure projects. Deal sealed in Nairobi Treasury Cabinet Secretary John Mbadi and Vodacom Group chief executive Shameel Joosub signed the agreement in Nairobi on…
Kenya’s government has sold a 15% stake in telecom giant Safaricom for KSh240.5 billion, securing a vital cash injection while handing majority control of the country’s most valuable company to South Africa’s Vodacom. National Treasury Cabinet Secretary John Mbadi confirmed the transaction on Thursday, saying 6.01 billion ordinary shares were sold at KSh34 each to…
In the wake of Raila Odinga’s death last month, Treasury Cabinet Secretary John Mbadi has stepped forward with a bold claim: He is ready to guide Kenya’s Luo community into a new era. Speaking at an empowerment program in Kisumu on Friday, Mbadi invoked biblical imagery, likening the late opposition leader to Moses and positioning…
