Author: Jack Oduor

Lack of healthcare price controls has exposed those without insurance covers forcing them to part with billions to finance health. Health insurance schemes are increasingly gaining traction in countries like Rwanda helping to ease healthcare burden. The report further notes that countries like Kenya, Tanzania, and Uganda have faced challenges in implementing national health insurance schemes. The lack of government-mandated price controls for out of pocket health expenditures has left a financial burden for low-income households in East Africa accessing medication, according to a new report. The survey titled Primary Healthcare Financing in East Africa, shows that Out-of-Pocket (OOP) payments…

Africa’s blue and green economy is projected to be the new avenue that will drive investments in Africa The continent, with its vast coastline and rich marine resources, is poised to harness the immense potential of Africa’s blue and green economy According to ADFDB, 80 per cent of global trade is maritime. Oceans also provide billions of people with food, medicine, renewable energy, and natural resources. Three Kenyan startups are among ten selected across the continent to benefit from $550,000 (Sh70.7 million) in capital to grow their operations towards boosting Africa’s blue and green economy sectors. Kenya produced the highest…

Kenya’s Political Instability has seen calls for President Ruto’s impeachment, a demand likely to persist soon.  Reduced capital inflows suggest limited foreign exchange reserves at the central bank’s disposal to support the currency in the near term. The analysist say tensions will likely de-escalate in the coming weeks, but expect market sentiments towards Kenya to remain bearish The Kenyan shilling is expected to face pressure in July due to anticipated declines in capital inflows caused by political instability experts have warned. The analysist from pan African market insights firm Stears are now saying that following the protests from June 18…

Food security in Africa has been elusive due to unpredictable weather and slow adoption of technology The first is research from the Food and Agriculture Organisation which highlights the priority areas for production of cereals in Africa Although Africa’s population has doubled in the last 30 years, food production has not kept pace with yields often below the global average. According to research released by Oxfam in 2023, seven people across Ethiopia, Kenya, Somalia and South Sudan will die of hunger-related causes in the time it takes the average reader to complete this article. It is imperative that all stakeholders…

 A new study analysed billionaires and their earnings to rank the billionaires who got rich the fastest. Changpeng Zhao, a co-founder of Binance, got rich the fastest, earning his first billion dollars in only 7 months after the start of the company. Jeff Bezos and Mark Zuckerberg made their place in the ranking, both spending 4 years to acquire their first billion dollars. Experts at EvenBet Gaming have recently conducted a study to rank the billionaires who got rich the fastest. The study considers the years since the company’s founding that brought the first billion. In addition, the study includes the age when they became…

Cyber recovery costs have over the past one year increased to $2.73 million. The survey included responses from 5,000 IT and cybersecurity leaders in 14 countries, covering organisations with 100 to 5,000 employees Only 1 per cent of claimants said their insurance covered all costs According to a new report by online security solutions provider Sophos, the recovery costs from cyber-attacks have outpaced insurance coverage. The survey titled “Cyber Insurance and Cyber Defenses 2024: Lessons from IT and Cybersecurity Leaders,” shows that recovery costs from cyber-attacks are outpacing insurance coverage with only one percent of those that made a claim…

Kenyan consumers defy 8-year high Lending Rate as 60 per cent set sights on borrowing over the next year Nearly all consumers (99 per cent) deem access to credit as essential for financial inclusion and economic participation Digital platform usage is increasing, with 42 per cent of Kenyans conducting at least half of their transactions online. Kenyan households experienced a modest financial rebound in the second quarter of 2024, largely driven by new business ventures, enhanced debt management, and less impact from job losses. This is according to the second quarter Consumer Pulse Study by insights company TransUnion. According to the study,…

Businesses in Kenya seeking government tenders will soon have to contend with new regulations. Among the proposed changes is the amending of the compulsory requirement that compels the government to award tenders to the lowest bidder.  According to the Institute of Economic Affairs the compliance rate of public procurement regulations is low. Kenya’s Procurement Regulator Strategic Plan for businesses that seek government tenders will soon have to contend with new regulations should the Public Procurement Regulatory Authority forge ahead with the proposed changes on the issuance of state tenders. Among the proposed changes is the amending the compulsory requirement that…

Kenyan Professional Workers expect employers to take the lead in supporting their relocation  Nearly 70 per cent of Kenyan respondents cite financial and economic reasons to move abroad Australia, the US, Canada, the UK, and Germany round out the top five most desired destination countries globally The number of Kenyan professional workers looking for opportunities to work in other countries is higher than the global average, a new global survey has shown. Despite global challenges such as geopolitical tensions, widespread economic concerns, and emerging virtual mobility trends from the past several years, moving abroad for work remains a dream for…

Kenya’s $2billion Eurobond was set to mature on June 24, 2024 This is an increase of $1.31 billion (Sh168 billion) to reach US$8.32 billion (Sh1.07 trillion). Kenya had earlier indicated the outstanding amount would be retired through a mix of syndicated, multilateral & domestic financing. Kenya has cleared the remaining $556.97 million (Sh71.5billion) of the $2billion (Sh257billion) Eurobond that was due by June 24, 2024.  Figures by the National Treasury’s Public Debt Management Office indicate that says the outstanding note was settled on Friday, June 21, three days ahead of the maturity date. The repayment has seen Kenya’s National Reserves…