Author: Martin Mwita

Loans from China hit a high of US$6.2 billion last year

The Chinese government has dismissed claims that it’s continued heavy lending to Kenya in the financing of mega infrastructure projects is a ‘ debt trap’, even as loans from Beijing hit a high of ShUS$6.2 billion(Sh625.9 billion) in December last year.

This is up from US$5.3 billion (Sh535 billion) a year earlier with a lion share going towards the construction of the multi-billion Standard Gauge Railway (SGR).

“We are not putting Kenya into a debt trap. China-Africa corporation cannot put Africa into a trap but booming economic growth,” China’s Charge’ D’affaires (Nairobi) LI Xuhang said during a meeting in Nairobi on the update on the SGR and China-Kenya relations.

“Kenya can decide on who they want to partner with. Kenyan people are wise enough to choose their trade and corporation partners. They can decide who benefits them more,” Xuhang …

Three years past the crisis period, economies are still performing poorly

The growth story in Sub-Saharan Africa in the past few years has been one of faltering recovery from the worst economic crisis of the past two decades.

This remains the case according to the World Bank’s April 2019, 19^th edition of Africa’s Pulse, which estimates GDP growth in 2018 at a lower-than-expected 2.3 per cent, with a forecast to 2.8 per cent in 2019.

“Three years past the crisis period, we should be seeing a more widespread pickup in growth; instead we have downgraded our estimates again for 2018,” said Gerard Kambou, World Bank Senior Economist for Africa, “Leaders in Sub-Saharan Africa have the opportunity to build stronger domestic policies to withstand global volatility – and now is the time to act.”

The report notes that the three largest African economies—Nigeria, Angola and South Africa—play a big role …

Mobile subscription in the country grew 6.2 per cent in the second quarter of 2018

A proliferation of mobile applications on popular online stores is exposing Kenyans to increased cyber attacks and fraud, a latest sector statistics report by the Communications Authority of Kenya (CA) has revealed.

This comes in the wake of a fast growing mobile subscription in the country which grew 6.2 per cent in the second quarter of 2018(October-December).

According to CA’s sector statistics report for the financial year 2018-2019, mobile subscriptions in Q2 grew to 49.5 million up from 46.6 million in the first quarter(July-September).

Data subscription during the period increased to 45.7 million from 42.2 million in the previous quarter, meaning Kenyans are increasingly getting connected to the internet.

This has created a field day for fraudsters who are taking advantage of innocent members of the public with little knowledge on cyber attacks.

The report …