• Kenya’s second-hand clothes imports rose to Sh27.8 billion in the one year to March 2024. 
• The second-hand clothes trade has thrived over the years and has since attracted traders from China, Kenya’s top source market, to set base in Gikomba
• The Mitumba Consortium Association of Kenya recently noted that the number of people venturing into the sector is increasing at a fast pace

The demand for second-hand clothes (mitumba) in the Kenya is on the rise, as more people, mostly from the informal sector, opt for the relatively low-cost commodity.

Picturing this is the latest quarterly data by the Kenya National Bureau of Statistics (KNBS), which shows the value of mitumba imports by traders rose to Sh27.8 billion in the one year to March 2024.  This is from Sh20.9 billion in the previous year, representing a 33 per cent jump.

Higher quality and relatively lower prices for used attire …

• Kenya’s parastatal set for privatisation, the National Oil Corporation of Kenya could face closure if the government does not inject new funding or get investors fast.
• The Corporation’s strategic plan expired in 2020, and Management has yet to develop another strategic plan to cover the current period.
• The corporation’s latest audited results for June 2023 show that it is running on a negative working capital position with its current liabilities outstripping current assets. 

National Oil Corporation will need to seek financial support, restructure its operations, or face bankruptcy after its debts exceed its assets by Sh9.1 billion ($70.96 million).

Kenya’s Auditor General Nancy Gathungu has warned that the firm is technically insolvent amidst the government’s push for a strategic investor to run the parastatal.

This means that the National Oil Corporation of Kenya could face closure if the government does not inject new funding or get investors fast.

The corporation’s …

• Treasury Bonds Auction for the month of July recorded only a 2 percent subscription rate 
• The domestic bond market has faced challenges, despite the lower yields on Eurobonds
• This high yield reflects investor concerns about Kenya’s economic stability and fiscal health​

Investors have shied away from government bonds as the treasury only managed to raise 2 per cent of the Sh20 billion it had targeted in its July tap sale.

This saw the government only get Sh487.5million as the investors instead preferring to pump funds into short-term Treasury bills on expectations that interest rates will soon go up in the country.

The bonds are instruments through which the government will use to borrow from the market.

The domestic bond market has faced challenges. Despite the lower yields on Eurobonds, yields on Kenyan government bonds remain high, with 10-year bonds yielding 17.759 per cent as of early July 2024.

This high …

• Kenyan Shilling to Reach Sh138 this month as effects of global rates and heavy rains come alive
• Additionally, the minor decline in the foreign exchange reserves between April and May signals interventions in the forex market by the CBK.
• The CBK is expected to leave rates unchanged at 13 per cent at its June meeting to support these dollar inflows and provide positive yields to investors.

Financial experts are now predicting that the Kenyan shilling will depreciate to Sh138 against the US dollar by the end of June 2024.

The analysist from pan African market insights firm Stears, say that the Kenyan shilling witnessed large swings in May, after appreciating 2.09 per cent between May 2 and 16. This saw the local currency resume a consistent depreciation to close the month at Sh133.37 against the dollar.

Stears notes that although the currency remained relatively unchanged compared to April, on average, …

• At the convergence of technology and marketing, social media platforms have become an imperative tool for businesses
• Recognising your target audience is the foundation of an effective social media strategy.
• Artificial intelligence (AI) has become increasingly imperative in the digital marketing landscape.

Social media marketing

Social media has transformed from a platform for personal connection into a relevant tool for businesses to engage with their audience, build brand awareness, and drive growth. The power of social media in business cannot be underestimated, as it offers a myriad of opportunities for organisations, brands and people to thrive in the competitive landscape.

At the convergence of technology and marketing, social media platforms have become an imperative tool for businesses and organisations to promote their brands and connect with their target audience. With the widespread adoption and ever-changing features, social media has a superior say on digital marketing strategies.

Furthermore, social media marketing …

• Small and medium enterprises have become vital drivers of economic growth in African countries.
• According to the African Development Bank Group, SMEs in Africa represent around 90 per cent of all businesses and contribute up to 33 per cent of Africa’s Gross Domestic Product (GDP).
• Access to capital is one of the biggest obstacles small and medium enterprises face in Africa.

Small and medium enterprises (SMEs) in Africa play a vital role in fostering sustainable development. With 90 per cent of all global businesses falling under the MSME category, these enterprises create employment, foster innovation, and contribute to gross domestic product (GDP) growth.

In recent years, small and medium enterprises have become vital drivers of economic growth in African countries. As the continent undergoes rapid development, these enterprises foster innovation, create jobs, and contribute to economic growth.

Small and medium enterprises form the bedrock of African economies, representing various …