• Usable foreign exchange were recorded at USD 6.56 billion last week, which is equivalent to 3.66 months of import cover.
• The shilling has continued to weaken against the US Dollar to a record 130 units to a dollar.
• The country has witnessed a dollar shortage in recent months.

The Kenyan government has put in place a number of measures to tame the country’s dwindling forex reserves and a biting dollar shortage that is being witnessed in the market.

The East African Community (EAC) economic powerhouse is also grappling with a weakening shilling that has dropped by about 12 per cent against the US dollar, the highest in two decades.

It has breached the 130 mark to a dollar, which is a record high. Importers are however accessing the dollar at Ksh145 to the dollar, which has impacted on the cost of imports and commodity prices.

Usable foreign exchange was recorded …

• Inflation is cooling gradually but remains stubbornly high in most economies, including Africa, UK and U.S. despite the efforts of central banks according to economic experts. 
• In 2023 EIU forecast that disinflation in SSA will be slower than on all continents barring Latin America and Asia and Australasia, and that SSA inflation will average 12.5 percent. 
• Markets are now betting on a longer period of higher interest rates as they begin to take heed of the message from central bank officials.

Inflation is cooling gradually but remains stubbornly high in most economies, including Africa, UK and U.S. despite the efforts of central banks according to economic experts.

Average annual inflation in Sub-Saharan Africa (SSA) in 2022, hit 14.5 percent year-on-year on aggregate according to Economist Intelligence Unit (EIU) and is estimated to have been higher than in any other region of the world except the Middle East and North Africa, …

• Land Investment in the Nairobi Metropolitan Area is the only sector projected for growth in 2023 according to the latest data from Cytonn Investments. 
• Land has continued to establish itself as a reliable investment opportunity, displaying great resilience even during times of economic hardship in the COVID-19 period, and a depreciating Kenyan currency. 
• The investment opportunity lies in satellite towns; Juja, Utawala and Limuru for unserviced land, for serviced land, investment opportunity lies in Syokimau and Ruiru-Juja which recorded the highest annualized capital appreciations 

Land Investment in the Nairobi Metropolitan Area is the only sector projected for growth in 2023 according to the latest data from Cytonn Investments. 

The report states that land has continued to establish itself as a reliable investment opportunity, displaying great resilience even during times of economic hardship in the COVID-19 period, and a depreciating Kenyan currency. 

Some of the factors that  will contribute to the …

Kenya’s President William Ruto has asked his Cabinet Secretaries to act fast to deliver on his administration’s development programmes, “with speed and efficiency”.

“We made important promises to the people of Kenya, especially those at the bottom of the economic pyramid. And we must deliver,” the president said.

According to Ruto, there are no excuses not to deliver his mandate adding that the government must work as a team and drive the interests of the people.

He was speaking at a cabinet retreat on the implementation of the government’s development priorities for 2023.

In the run up to the August 2022 General Elections, Ruto gave a number of promises under his bottoms-up economic plan.He unveiled a five-point manifesto dubbed ‘The Plan’, which he said would address Kenya’s economic challenges.

Economic recovery in a post-Covid era was one of his main objectives. Ruto also pledged to invest at least Sh250 billion …

• Remittance flows to developing regions were shaped by several factors in 2022 including reopening of host economies as the COVID-19 pandemic receded.
• Remittances as a share of GDP are significant in the Gambia (28%), Lesotho (21%), and Comoros (20%).
• Industry data shows most of the funds go towards supporting families in purchase of food and household goods

Remittances to Sub-Saharan Africa grew by 5.2 percent to $53 billion in 2022 defying the effects of the global crisis.

World Bank’s report on Migration and Development however noted that the growth slowed from the 16.4 percent  that was recorded in 2021.

“Remittances in 2023 are projected to soften to 3.9 percent growth as adverse conditions in the global environment and regional source countries persist,” noted the report.

Flows to Nigeria and Kenya have continued to dominate remittances to Sub-Saharan Africa although the region remains highly exposed to the effects of the global …

To understand the new politics stance and other pro nationals of recent times, we should look to Silicon Valley and the quantified movement of the latest generation.

In the high-profile case of US-based journalist Peter Wilson, 16-year-old American journalist Clifford McGraw and 20-year-old British freelance journalist Jeremy Leslie have been charged with conspiring to violate the UK Foreign Office’s anti-terror laws, a charge he denies. On Monday, UK attorney Andy McDonald revealed that he had spoken.

“Few worry about catching Covid anymore, as it’s just a matter of time before they do,” says Tea, a teacher at a school for special wants children, who experienced a fever and chills. “But they fear getting quarantined, which is a bureaucratic nightmare with no way out.”

Speaking to The Andrew Jackson Society, he added: “I want to express to the people of Scotland: as you know, we are a country of …