Author: Jack Oduor

Madagascar man freed from 5KG tumor after the four-hour surgery, his family, including his wife, daughter, and sister, were all waiting for him outside By age 53, Fidisoa struggled to do the high level of manual labor required from his livelihood He said that the benign tumor, a soft lobular fibroma which weighed 5 kilograms, was now gone for good A father of three can sleep comfortably on his back for the first time in 15 years after having a massive tumor – weighing 11lbs (5kgs) – removed by surgical charity Mercy Ships. Malagasy builder and rice farmer Fidisoa was…

Sugar consumption in Kenya is also expected to increase by 3.2 per cent this year driven by tourism and bakery  Following the expiration of the ban in November 2023, production is expected to rebound significantly in 2024/25 The survey also says that the growth in Kenya’s tourism sector will continue to create demand for sugar. Kenya is expected to record a rise in sugar imports, as the effects of a ban on immature sugarcane processing kicks in, new findings have revealed. This is however expected to ease as millers ramp up their production A report released by Fitch Solutions Company BMI and…

Remittances to Kenya dropped by $32.8 million as the economies in the source markets continued to grapple with higher inflation. Education, healthcare, and household needs are the main uses of remittances in Kenya, an analysis by WorldRemit indicates. The shilling’s exchange rate against the dollar has not been stable in the period under review Kenyans working and living abroad sent home $32.7 million (KSh4.3 billion) less in June compared to the previous month. Latest monthly data by the Central Bank of Kenya (CBK) show remittance inflow for the month totaled $371.6 million (KSh48.48 billion), an 8 per cent decline from the…

Africa posts sharp decline in support for democracy despite 66 Per cent of the continent preferring democracy over any other system. Opposition to military rule has also weakened by 11 points, notably in Mali and Burkina Faso. Satisfaction with democracy has notably decreased in prominent democracies like Botswana (-40 points), Mauritius (-40 points), and South Africa (-35 points). Over the past decade, popular support for democracy has declined sharply in several African countries, and opposition to military rule has weakened a new survey by Afrobarometer has shown. Afrobarometer’s inaugural flagship report  shows that satisfaction with the way democracy works has…

Kenyan Banks Hit by fresh $1.2 Billion Bad Loans in 2023 according to a new report by the Central Bank of Kenya The regulator says it is concerned by the sharp rise in bad loans and is working closely with lenders to mitigate the crisis. Kenyan banks hit by fresh $1.2 billion bad loans as global interest rates remained high throughout the year. The high cost of living due to weak currency and shakeups in the global supply chain saw banks suffer an additional $1.2 billion (Sh150 billion) in bad loans in 2023, pushing the total to $4.98 billion (Sh651.8…

Cybersecurity recovery costs post a staggering increase in recovery costs for the Energy and Water sectors. The report also reveals that nearly 49 per cent of ransomware attacks on these sectors began with an exploited vulnerability The Energy and Water sectors also reported a high rate of ransomware attacks The water and energy sector have been the worst hit with the rise in cybercrime recovery costs according to a new report by Cybersecurity firm Sophos. Titled “The State of Ransomware in Critical Infrastructure 2024,” the survey shows a staggering increase in recovery costs for the Energy and Water sectors. Experts…

Human Rights Watch says that the focus should be on progressive revenue generation and accountability over public funds. HRW further recommends strengthening social contract to address the root causes of protester anger. Finance Bill 2024, in the context of an IMF program with Kenya, was expected to raise US$2.7 billion in additional revenues in the upcoming fiscal year, in part to meet IMF targets. IMF programs implementation The Kenyan government and International Monetary Fund should work together to ensure that the IMF program and its implementation align with human rights, Human Rights Watch said today. The focus should be on progressive revenue generation and…

Office Occupancy Levels Across Africa increased by an average of 15 percent from 2022 numbers Knight Frank also points to rising investor interest in the continent’s manufacturing, mining, and energy sectors. In the retail market, there is a strong focus on enhancing consumer experiences across the continent. Office occupancy levels across Africa’s office markets have recovered from 60 per cent in 2022 to 75 per cent this year, according to global property consultant, Knight Frank’s biennial 2024/25 Africa Report. This notable improvement in office occupancy levels is largely attributed to the gradual return to the office following the disruption caused…

The firms exploit legal loopholes to steal, they exploiting gaps in beneficial ownership laws to repatriate billions of profits in the mining sector According to the report, Kenya’s mining industry has the potential to contribute 4-10 percent of the country’s gross domestic product. The country earned Sh300 billion from the mining sector last year. Corrupt individuals in Kenya are exploiting gaps in beneficial ownership laws to repatriate billions of profits in the mining sector, limiting its contribution to the general economy. A new report released by the Global Financial Integrity (GFI) dubbed ‘Illicit Financial Flows Related to Beneficial Ownership in…

Kenya’s $168Bn plundered development loans were taken over 11 year period between 2010 and 2021 In one instance, the OAG raised an issue with the missing drawdowns for three loans from BELFIUS Bank and Unicredit totaling €29,510,462 (Sh4.1billion). The audit examined how 39 commercial loans valued at $168billiom (Sh1.36 trillion) during the time were used, and whether they were borrowed legally. The Office of the Auditor General has opened a can of worms on the possible diversion of loans and plunder of funds disbursed to Kenya for development over the past 10 years. A Special Audit by Auditor General Nancy…