The Kenyan government has officially revoked the proposal to construct the Nairobi-Mombasa expressway, a project initially valued at KES 468 billion. This decision follows various setbacks and financial challenges that undermined the feasibility of the expressway, which had been a significant infrastructure ambition. Concurrently, the Central Bank of Kenya has implemented its seventh consecutive interest rate cut, reducing the policy rate by 25 basis points to 9.50%. This move marks a cumulative easing of 350 basis points since August 2024 and comes as inflation remains within target levels. The rate cut aims to stimulate economic activity amid ongoing financial pressures. Additionally, the government has assured that there are no new pending bills related to road projects, indicating a focus on managing existing commitments. In other news, the Top 40 Women Under 40 initiative highlights influential young Kenyan women making strides in various sectors, including human rights, maternal health, entrepreneurship, and asset management, reflecting a broader narrative of empowerment and leadership among the nation's youth.
Ruto abuni mbinu za kunasa GenZ. #FixingTheNationNTV @nationfmke @mariambishar @officialjmbugua @ericlatiff https://t.co/pQ3da51Kit
Intrigues that sunk Nairobi, Mombasa expressway dream https://t.co/iCIwwS2UaF
๐๐จ๐ฎ๐ง๐๐ฎ๐ฉ ๐จ๐ ๐๐จ๐๐๐ฒ'๐ฌ ๐๐จ๐ฉ ๐๐ฎ๐ฌ๐ข๐ง๐๐ฌ๐ฌ ๐๐จ๐ง๐ญ๐๐ง๐ญ [๐๐๐ญ๐ก ๐๐ฎ๐ ๐๐๐๐]: 1. Kenyaโs central bank cut its policy rate by 25 bps to 9.50%, marking its 7th consecutive reduction since August 2024 and totaling 350 bps in easing. https://t.co/LpvctYq6CD