Browsing: William Ruto

• To facilitate the execution of these projects, Afreximbank will collaborate with Arise IIP.
• In May, the lender rolled out a $3 billion program aimed at spurring Kenya’s economic growth.
• The plan will also include the establishment of the $600 million e-mobility manufacturing plant in Kenya.

African Export–Import Bank, popularly referred to as Afreximbank, has entered into an agreement with Kenya that will see the lender identify key economic projects that it will finance and manage.

Under the deal signed on May 2, 2023, Afreximbank, through its subsidiary, will conduct a comprehensive feasibility study on these proposed projects. It will them provide the necessary financing for their implementation.

One of the major focus of Afreximbank in Kenya is to provide funding for various special economic zones spread across different counties. The initiative is part of the broader industrial parks development and investment plan for Special Economic Zones (SEZs) in Africa.

“On …

Kenya is one of 23 African nations at risk of debt distress. The major causes of debt distress include poor fiscal management and macroeconomic frameworks to sustain growth, a shift in debt structure toward more costly financing sources, and excessive government expenditure levels.

Kenya’s debt was at about 70 per cent of GDP in 2021, up from 50 per cent in 2015. China is Kenya’s biggest bilateral creditor. It accounts for 67 per cent of the bilateral debt (primarily for infrastructure projects), an increase from 13 per cent in 2011.…

Some worry that monetary policy is still excessively accommodating, given that rate hikes have not matched inflation. Policy cooperation may be beneficial. Fiscal consolidation and a mix of rate rises and currency depreciation may play a role in nations where policy is overly permissive.

The shaky recovery in Sub-Saharan Africa, coupled with domestic demand constraints, has not significantly fueled inflation so far. However, in the coming months, governments and policymakers must carefully monitor and prioritise tackling the rising inflation in Africa.…

Kenya has not been left behind in the growth and development of technology. East Africa’s richest economy stands tall in the development of digital technology. However, a lot needs to be done, and the new administration has enough space to execute its plan regarding the advancement of the Kenyan digital space.…

The confirmation of William Ruto as president indicates that Kenya will remain on track with its IMF program and plans to strengthen medium-term public finances, but a sovereign credit 2022 ratings downgrade remains inevitable in the subsequent months.…

The Treasury has directed Cabinet Secretaries and CEOs of parastatals to draft the 2023 budget for the fiscal year beginning July 2023 based on policies implemented by President Uhuru Kenyatta’s government, despite uncertainty about when the next Head of State would take office after Raila Odinga filed a petition at the supreme court.…

• 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 …

• Kenya’s economy is expected to expand the fastest in 2022 despite this being an electioneering year
• This is a much better performance than any other since the onset of the multiparty system 20 years ago
• It is estimated and expected that the economy will grow by 5.4 per cent by the time we get to September 2022

Kenya Economy

A projection of global economists has suggested that Kenya’s economy is expected to expand the fastest in this electioneering year despite not knowing who will win the 2022 election in Kenya.

This growth is more than any other since the onset of the multiparty system 20 years ago shrugging off politics in Kenya 2022.

This increase, they say is supported by increased expenditure and also the need for more human resources to run campaigns with the introduction of features like social media campaigns which also is a way of collecting revenue.…

Masisi’s visit to Kenya has an agenda to have the East African nation reconsider its stance on “the utilisation of natural resources”.…