
Articles
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1 week ago |
businessdailyafrica.com | John Waweru Kamau
About 17 percent of employees in top firms are casual workers, as firms increasingly turn to contract staff to control costs. Official statistics from the Kenya National Bureau of Statistics (KNBS) show that individuals engaged in casual employment grew from 416,900 in 2020 to 559,200 in 2024, accounting for 17 percent of the 3.31 million formal sector workers This emerges in a period when Kenya’s soft economy has made firms reluctant to step up hiring and increase wages to cover inflation.
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3 weeks ago |
businessdailyafrica.com | John Waweru Kamau
Bad loans held by consumers overtook those of retailers, real estate and manufacturers, underlining the effects of shrinking payslips and layoffs on debt repayments. Latest data from the Central Bank of Kenya (CBK) reveals that non-performing loans under households grew by 75.1 percent to Sh148 billion at the end of September last year. This saw defaulted consumer loans surpass those held by retailers and wholesalers (Sh125 billion), manufacturers (Sh125 billion) and real estate (Sh99 billion).
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4 weeks ago |
businessdailyafrica.com | John Waweru Kamau
Kenya has ranked first in East Africa and third in Africa in export of services in information, communication and technology (ICT), also known as freelance online services, an indication of the growing demand for digital skills. UN Trade and Development (UNCTAD) data reveals Kenya’s earnings from digital service exports jumped to $973 million in 2021, up from $567 million in 2020.
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1 month ago |
businessdailyafrica.com | John Waweru Kamau
China was Kenya’s leading source of second-hand clothes, popularly known as mitumba, accounting for more than 50 percent of the East African nation's used clothing shipments. China became the dominant source of Kenya’s mitumba from 2016 after overtaking the United Kingdom. In 2023, Kenya imported used clothes valued at $183 million (Sh23.7 billion), mostly from China, where the country bought more than half of its mitumba.
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1 month ago |
businessdailyafrica.com | John Waweru Kamau
Cash circulating outside the banking system in December grew 0.58 percent, the slowest in 24 years amid contracted payslips for those salaried and tough economic times for most Kenyans. Recent data from Central Bank of Kenya (CBK) reveals that cash circulating in the economy in December increased by Sh1.67 billion to close the year at Sh292.8 billion, reflecting a 0.58 percent growth in the festive month.
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