Author: Martin Mwita

Business confidence slips to lowest since February Input prices rise mildly after back-to-back declines Steepest drops in activity and new work for seven months Kenya’s business activity dips amid tax revolt Kenya’s business activities fell sharply in June amid reports of widespread economic challenges and a negative impact on sales from protests and policy uncertainty, the Standard Bank’s Purchasing Managers’ Index (PMI) for June indicates. New business intakes dropped at the fastest rate since November last year, leading to a drop in business confidence and weaker job creation. Although Kenyan firms also saw a renewed increase in their input costs…

The transaction marks the successful outcome of BII and I&M’s equity partnership for over 7 years as AfricInvest takes over. The institution said that the sale to a like-minded investor is one of the most significant transactions in East Africa in recent years and represents a vote of confidence in the region’s financial services sector. It is listed on the Nairobi Securities Exchange, and the Rwandan subsidiary I&M Bank Rwanda PLC is listed on the Rwanda Stock Exchange. British International Investment (‘BII’) British International Investment (‘BII’), the UK’s development finance institution and impact investor, has sold its 10.1 per cent…

(CBK) retained its base lending rate at a high of 13 per cent for the second time. This is the highest rate in 12 years, as the apex bank continues implementing monetary policies to manage stubborn inflation. According to CBK data, the country’s borrowers had defaulted on about $4.8 billion as of April, the highest in 18 years, due to the tough credit market. Central Bank of Kenya (CBK) retains high interest rates Central Bank of Kenya (CBK) retained its base lending rate at a high of 13 per cent for the second time driving the borrowing costs in Kenya…

Output rises at the sharpest rate in 20 months. New order volumes strengthen. Input costs fall for the second month in a row. Kenya recorded an improvement in private sector business conditions during May, as falling cost burdens and rising new business contributed to a solid expansion in activity. The Latest Stanbic Bank Kenya Purchasing Managers’ Index indicates that activity’s upturn was the sharpest in 20 months, as was input buying growth. Job creation continued at a mild pace even as reductions in fuel prices and import costs led to a further drop in overall input prices in May, after…

Energy industry experts and policymakers are meeting in Nairobi for the International Energy Agency 9th Annual Global Conference on Energy Efficiency, the first time the conference is being hosted in Africa. European Commissioner for Energy Kadri Simson and Kenya’s Cabinet Secretary of Energy and Petroleum Davis Chirchir launched the Green Resilient Electricity System Program for Kenya. The Green Resilient Electricity System Program will support Kenya’s goal of a complete transition to 100per cent clean power generation by 2030 and it will boost Kenya’s sustainable energy future. The green energy economy strategy seeks to build on the country’s current economic strengths…

Under a new COMESA programme, farmers in the five East African countries are expected to access quality seeds, and training on how to improve production and distribution. The five-year programme is expected to help the countries cut post-harvest losses in horticulture to 40 per cent or lower, from highs of 60 per cent, for instance in Kenya.  Agriculture is estimated to contribute on average 27% of the gross domestic product (GDP) in the EAC and accounts for the highest share of employment not only in the region but across Africa. Agriculture is the backbone of nearly all East Africa region’s…

For the first time, the China-Africa Economic and Trade Expo (CAETE) came to Africa, with Nairobi playing host last week. According to the Ministry of Commerce of the People’s Republic of China, the forum is expected to spread across the continent, with different countries hosting it in the coming years. The Asian country is keen to continue its influence and trade dominance on the African continent. China has launched a charm offensive on Africa in renewed efforts to tighten its grip on the continent. The West has recently shown growing interest in political and investment corporations, and China is seen…

Kenya’s private sector enjoyed a much more stable business environment in April amid continued job creation in the market, with the country enjoying the lowest inflation in two years. Employment growth continues as the country’s economy remains on a growth trajectory. The headline PMI registered fractionally above the 50.0 neutral mark at 50.1 in April, up from 49.7 in March. Kenya’s private sector enjoyed a much more stable business environment in April amid continued job creation in the market, with the country enjoying the lowest inflation in two years. The latest Purchasing Managers’ Index by Stanbic Bank depicted broadly steady…

From January to March, investor confidence improved notably due to the stabilisation of the domestic currency (Kenyan Shilling), according to the Capital Markets Authority (CMA). The Capital Markets Soundness Report indicates a more stable shilling, which consequently positively influenced the equity markets, which improved compared to the quarter ending December 2023. The four market indices, NSE20, NSE25, NASI, and NSE10, closed at 1752.43, 2975.42, 113.09, and 1155.41 points respectively, an increase from 1,501.16, 2,380.23, 92.11, and 907.51 points. Kenyan shilling on the rise Nairobi Securities Exchange (NSE) was among the top African performers in the first quarter of 2024, buoyed…

By Dr. Kibet Shikuku, Hematologist, The Nairobi West Hospital Blood cancer, a malignancy originating in the bone marrow, is recognized and observed during Blood Cancer Awareness Month every September. This month is dedicated to increasing public knowledge about blood cancers, their symptoms, risk factors, and available treatments. Blood cancer occurs when abnormal blood cells overwhelm normal ones, leading to various health complications. This article provides an overview of blood cancer types, symptoms, risks, and treatment options. Types of Blood Cancer Blood cancer, which originates in the bone marrow, includes several types: 1. Leukemia: The most prevalent blood cancer in…