Author: NLM Correspondent

By NLM Writer Frank Mosier, the chairman of Rendeavour, the owner and developer of the Tatu City Special Economic Zone in Kiambu County, has been named to a special committee advising President Donald Trump, the US government announced last month. Mosier, a long-time emerging markets investor and the largest American investor in Rendeavour and Tatu City, has been named to the 26-member President’s Advisory Committee on Doing Business In Africa (PAC-DBIA), joining executives from General Electric, Visa, Bechtel, Mastercard, Pfizer and IBM, among other companies. US Secretary of Commerce Wilbur Ross announced the appointment. The PAC-DBIA was established in 2014…

By Shawn Mike The indisputable fact is that people start their businesses with the dream of growing it big. However, in reality, very few businesses get that kind of exponential business growth and there are several reasons for lack of prosperity. Exponential growth isn’t related to a product or a business. In actual fact, it is much bigger than that; it’s about a whole system that includes the structure and the common traits of the businesses and what allows them to gain exponential growth. Technically speaking, it can be calculated with a simple formula that requires mentioning the number of…

By Eric McNulty The admonition “don’t be a leader” can raise eyebrows, especially when it comes from someone like me, who researches, writes, and speaks about leadership. So let me explain. More and more often, I see that people define being a leader as an endpoint, a destination, a permanent designation. In this way of thinking, becoming an executive who formally leads others is akin to earning a merit badge to add to all the other skill badges one collects throughout his or her career. It’s disturbing that leadership is perceived as one more specialty, given that central to leading…

By Shadrack Muyesu Many cryptocurrencies today (like Bitcoin and Ether) have no underlying assets to back them. As a result, speculation and investment have been primary use cases. With a potential for substantial appreciation many people have acquired these coins hoping to sell them at a higher price later. As beliefs over the long-term value of these currencies and success of their networks fluctuate, so to have their prices, yielding, at times, massive swings in value What is the purpose of the Reserve? To drive widespread adoption, Libra is designed to be a currency where any user will know that…

By Mike Murphy In the near future, building a new home may be as easy as printing out an airline boarding pass. At South By Southwest today, New Story, a Y Combinator-backed charity that works to build houses for people in developing nations, and Icon, a robotics construction company in Austin, Texas, unveiled what is believed to be the first 3D-printed house that is fully up to code and permitted for people to inhabit. The two organisations came together to show that it’s feasibly possible to build an easy-to-replicate house in under 24 hours. They plan to take this proof-of-concept and start producing…

By Lord Jonathan Sumption Transcribed by Kevin Motaroki In the beginning, there was chaos, and brute force – a world without law. In the mythology of ancient Athens, Agamemnon sacrificed his daughter so that the gods would allow his fleet to sail to Troy. His wife murdered him to avenge the deed and she, in turn, was murdered by her son. Athena, the goddess of wisdom, put an end to the cycle of violence by creating a court to impose a solution in what today we would call ‘the public interest’ – a solution based on reason, on the experience…

By Dennis Ndiritu On March 14, 2019, a three-judge bench of the High Court comprising Justices Francis Tuiyot, Jackline Kamau and Rachael Ngetich ruled that a section of the Banking Amendment Act 2016, which gives the Central Bank of Kenya authority to cap interest rates, is unconstitutional. In its dictum, the court suspended Sections 33(b) 1 and 2 for 12 months to give the National Assembly an opportunity to reconsider the existence of the provisions. It threw the ball to the court of the Central bank of Kenya to provide measures of clarity to the impugned provisions during this period. In…

By Bosire Nyamori Interpretive challenges are a salient feature of tax legislation. The case of ‘Kenya Revenue Authority v Republic (Ex-parte Fintel Ltd) (KRA v Fintel)’, illustrates problems that come up when the precise meaning of words in a statute is uncertain and murky. The source of the problem was the word “paid” in Sec 2 and phrase “upon payment” in Sec 35(1) of the Income Tax Act. At issue is whether the obligation by the payer of interest to deduct and remit withholding tax is based on the accrual principle or the cash basis. The Court of Appeal held…

By Jenni Avins and Jason Karaian There are a lot of creative people here, and disciplined ones at that. People whose jobs require them to have good ideas, again and again, under great scrutiny. But how do they get over the fear of the blank page and keep on creating. What do they do to break out of a creative rut? Don’t resist it: include it “Well, put effort into it, that’s what I say,” says Jeff Goldblum, actor, jazz pianist, and Internet zaddy. “I say, you need the magic of inspiration and something to happen—but those things you can’t…

I read with unflagging pleasure the feature story published in the June issue of this magazine about Wafula Buke. I salute the depth of research into facts, style and texture of journalism that the author, David Onjili, employed. I also salute the writer for his timely and brave work that.  My remarks are in tune with a new and provocative social philosophy that it is better logic to celebrate heroes when they are alive, rather than eulogising their lives when they are dead.  I too, want to share in celebrating Buke’s contribution to democracy, human rights and defence of the dignity…