Browsing: Kenya elections 2022

Rich Kenyans saved Sh2.1bn in dollars daily before polls www.theexchange.africa
  • The rise of 63 billion shillings in dollar deposits, equivalent to 2.1 billion shillings daily
  • wealthy individuals and large corporations looked for a secure location to store their riches in the wake of the uncertainties surrounding the elections
  • The United States Federal Reserve increased interest rates by 0.75 percentage points for a second straight time in July to combat inflation, which contributed to a stronger dollar and a decline in the value of the Kenyan shilling

 

A record number of wealthy individuals and businesses moved a total of Sh63 billion more into dollar accounts during the month of June as they sought to secure the value of their investments in advance of this week’s elections.

As per data provided by the Central Bank of Kenya (CBK), the total value of foreign currency bank deposits in Kenya reached a new all-time high of Sh891.5 billion in June, up from Sh829.50 …

The poor roads in the DRC and the level of insecurity in the country make it difficult and costly to move these mineral resources to the Atlantic port. This makes DRCs decision to join the EAC their most viable option. 

A state-owned shipping line from the Congo, the Lignes Maritimes Congolaises (LMC), has already set base in Kenya and plans to start its operation in Mombasa starting this June. 

The shipping line seeks to channel more exports and imports goods through the port of Mombasa. …

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  • Kenya’s polls will determine how the country’s stalling economy rebuilds following the devastating coronavirus outbreak and the anxiety to achieve a calm democratic process
  • Whoever triumphs will receive a weak economy and a disgruntled people amid a domino effect of Covid-19, famine, and the Ukrainian conflict, which has disrupted fuel, wheat, and fertilizer supplies and exacerbated an extreme famine situation in East Africa.
  • The President-elect must address Kenya’s unsustainable budget imbalance.

Kenya Elections 2022 date

Kenya will conduct a general election on August 9, 2022, with adjustments to all political offices in the government, including parliament, senate, and the Presidency.

Kenya’s polls will determine how the country’s stalling economy rebuilds following the devastating coronavirus outbreak and the anxiety to achieve a calm democratic process. With all of its diplomatic and economic might in the region, Kenya’s election has far-reaching ramifications for East Africa’s development and growth.

Scores of foreign corporate