Author: Wanjiku Njugunah

The government of Kenya to implement a raft of measures to address the current high debt levels in Kenya and the fiscal challenges the country continues to face A high fiscal deficit because of higher expenditure than revenue collections is the primary driver of the increased borrowing The government should channel efforts towards strengthening the Capital Markets structure to ease the pooling of funds by investors to undertake development projects Economic analysts have urged the government of Kenya to implement a raft of measures to address the current high debt levels in Kenya and the fiscal challenges the country continues…

The Kenyan shilling depreciated by 0.3 per cent against the US dollar between July 18 and 22, 2022, to close the week at KSh 118.6, from KSh 118.3 recorded the previous week Analysts from Cytonn Investments attributed the depreciation to increased dollar demand from the oil and energy sectors against a slower supply of hard currency On a year-to-date basis, the shilling has depreciated by 4.8% against the dollar, higher than the 3.6% depreciation recorded in 2021 The Kenyan shilling depreciated by 0.3 per cent against the US dollar between July 18 and 22, 2022, to close the week at…

The Africa Centre for Disease Control (Africa CDC) will receive $100 million from the Wold to support a programme that would help enhance its technical capacity The funding will also strengthen Africa CDC’s institutional framework to intensify support to African countries in preparing for, detecting, and responding to disease outbreaks  The funds come when the continent is addressing several infectious disease outbreaks in addition to COVID-19, and there are growing risks looking ahead The Africa Centre for Disease Control (Africa CDC) will receive $100 million from the Wold to support a programme that would help enhance its technical capacity. According…

Kenya Airways (KQ) and Virgin Atlantic (VS) have announced an interline agreement to provide greater customer convenience The airline will extend its reach in the Middle East, the US, and the Caribbean via London.  The agreement further enables Virgin Atlantic passengers to book a through ticket to Nairobi and enjoy seamless connections to Kenya Airways destinations across Africa Kenya’s national Carrier, Kenya Airways (KQ), and Virgin Atlantic (VS) have announced an interline agreement to provide greater customer convenience. Under the interline agreement, Kenya Airways will extend its reach in the Middle East, the US, and the Caribbean via London. Kenya…

President Uhuru Kenyatta has achieved a lot in his tenure as the Chair of the East African Community, EAC Secretary General Peter Mathuki has said Mathuki pointed out that other key achievements of President Kenyatta as the EAC chair include the admission of DR Congo into the community Mathuki said President Kenyatta’s tenure as the EAC chair also saw the implementation of the common external tariff that discouraged the importation of goods that could be produced locally President Uhuru Kenyatta has achieved a lot in his tenure as the Chair of the East African Community, EAC Secretary General Peter Mathuki…

Jubilee Health has partnered with M-TIBA & Solution Sacco to launch a comprehensive and affordable health insurance cover dubbed “Solution Afya medical scheme” The partnership will enable over 25,000 SACCO members and community-based organisations to benefit from the medical scheme through an extensive network of service providers across Kenya The medical scheme will enable users to sign up and manage their health policies through M-TIBA’s mobile platform Jubilee Health has partnered with M-TIBA & Solution Sacco to launch a comprehensive and affordable health insurance cover dubbed “Solution Afya medical scheme”. The Nairobi-headquartered insurer said the partnership will enable over 25,000…

Tanzania will receive $73.5 million to finance a programme that will boost its food production by a million tonnes The African Development Bank Group (AfDB) said its board had approved the funding, which will go into the Tanzania Agricultural Inputs Support Project The project, which will span from September 2022-June 2025, was designed under AfDB’s African Emergency Food Production Facility to tackle a potential food crisis exacerbated by the war in Ukraine In the next three years, Tanzania will receive $73.5 million to finance a programme that will boost its food production by a million tonnes. In a statement, the…

Kenya Airways (KQ) and South African Airways (SAA) have signed a codeshare agreement that opens more destinations for seamless travel opportunities The deal comes when demand for air travel is rebounding following negative shocks caused by the COVID-19 pandemic The partners noted that the code-sharing agreement would see each airline sell, under its own code, flights operated by each other; South African Airways or Kenya Airways Kenya’s national carrier Kenya Airways (KQ) and South African Airways (SAA), have signed a codeshare agreement that opens more destinations for seamless travel opportunities. According to the partners, the deal comes when demand for…

South Sudan will receive $8.1million from the African Development Bank (AfDB) to address food The funds will support South Sudan’s Emergency Food Production Programme The Emergency Food Production Programme targets an additional 600,000 of the most vulnerable groups in five states, where recent severe flooding has affected thousands of households South Sudan is the latest East African country to receive millions from the African Development Bank (AfDB) to address food insecurity. The country received an $8.1 million grant from AfDB to fund its Emergency Food Production Programme. Allocated through the Transition Support Facility, the grant makes up additional financing for…

AfDB said its board had approved the funding, adding that the production increase will help bolster Kenya’s food security and economic resilience.

The loan is part of the African Development Bank’s $1.5 billion African Emergency Food Production Facility, an Africa-wide initiative to avert a looming food crisis exacerbated by the war in Ukraine.

Kenya: AfDB approves a $63 million loan to increase cereals and oilseed production

The loan will support the country’s Ministry of Agriculture, Livestock, Fisheries and Cooperatives (MoALFC). It will enable the government to provide affordable fertiliser and seeds to farmers ahead of the October-December 2022 short rains and into the 2022/2023 long rains crop production season.

Dr Beth Dunford, the Bank’s Vice President for Agriculture, Human and Social Development, said the successful implementation of the Facility would see some 650,000 farmers as direct beneficiaries, resulting in the production of 1.5 million tonnes of cereals and oilseeds.