Author: NLM Correspondent

How the West imported an investor crisis to the NSE By Peter Wanyonyi November 1971 was a watershed moment for international economics and the US dollar. Up to that point, the United States had maintained and honoured dollar-gold convertibility at market rates: back then, as now, countries settled their international accounts in dollars. But, unlike today, those dollars could – and frequently were – converted to gold at a fixed exchange rate of $35 per ounce, which was redeemable from the U.S. government. Thus, the United States was committed to backing every US dollar with gold, and other currencies were…

The Kenya Bureau of Standards (Kebs) is facing intense public backlash following a stunning admission by its acting Managing Director, Esther Ngari that goods manufactured and sold within Kenya are not subject to testing by the authority, triggering concerns over consumer safety and product quality. Appearing before the Public Accounts Committee, Ngari disclosed that Kebs does not engage in testing to determine the suitability of products. Instead, the bureau relies on the trust placed in manufacturers to uphold high standards of production. Ngari clarified that Kebs’ focus lies in inspecting the facilities used by manufacturers who fulfill the criteria outlined…

Ghana’s new critical minerals policy adds to a growing list of African countries coming up with measures to spur processing and prevent the export of unprocessed critical minerals as the continent faces a rare opportunity to control supply. By Conrad Onyango, bird story agency As global demand for green minerals such as lithium, copper and cobalt surges, African countries are coming up with policies to control the exploitation and export of these critical minerals. Ghana is the latest country to announce approval of a green-minerals policy to help manage the exploitation, production of lithium and help local businesses tap a…

Aspiring medical students who dream of joining the Kenya Medical Training College (KMTC) this year face uncertainty and disruption after the National Assembly declared the placement process conducted by the Kenya Universities and Colleges Central Placement Services (KUCCPS) null and void. The decision comes amidst allegations of illegalities and irregularities, leaving over 42,000 applicants in limbo. Of the 42,000 applicants, only 11,975 (28%) secured spots in KMTC colleges, leaving 30,000 students without a placement, fuelling concerns about fairness, transparency, and the effectiveness of the placement system. The Parliamentary Committee on Health, led by Robert Pukose, has deemed the placement procedure…

A petitioner wants the High Court to stop government borrowing until the country’s debt undergoes a comprehensive audit. The petition by Operation Linda Ugatuzi also calls for rectification of the nation’s debt data on official websites and other platforms by the National Treasury and Central Bank of Kenya. In an affidavit submitted by Prof. Fred Ogola, Operation Linda Ugatuzi argues that the government’s borrowing practices have undermined constitutional integrity. The crux of the petition lies in amendments made to section 50 (97) of the Public Finance Management Act no.18 of 2012 by the National Assembly in 2014. The petitioner alleges…

Mzalendo Kenya, a non-partisan watchdog focused on enhancing public involvement in the legislative process, has unveiled its latest index that sheds light on the activity levels of Senators and Members of Parliament (MPs) in the 13th Parliament. The spotlight is now on youthful Senators identified as the least active during House sessions, with names like Japheth Nyakundi, Zaheer Jhanda, and Karen Nyamu featuring prominently. The latest index published on Wednesday, 9 August 2023, named Japheth Nyakundi, representing Kitutu Chache North, Zaheer Jhanda of Nyaribari Chache, and Teresia Wanjiru Mwangi, who holds a Nominated position among the youthful Senators who have…

For Catherine Conteh, there’s a moment from the birth of her daughter that still plays over and over in her mind, 30 years later. She had been lying in her hospital bed in Sierra Leone, in Labor, writhing in untreated pain, for four days straight. The doctors told her that due to complications with her Labor, she needed a Caesarean section surgery – one that 18-year-old Catherine and her husband, Augustine, couldn’t afford. Without payment up front, she would not be given the surgery. Decades later, she remembers the thought that ran on a loop amid the pain and fear.“I…

Like a double-edged sword, AI can be wielded for good or evil. Unfortunately, we currently lack adequate regulations to ensure ethical AI use. By Naini Lankas The rise of Artificial Intelligence (AI) has been a game-changer in recent years, bringing both incredible advancements and potential dangers. While AI holds tremendous promise, it also threatens our fundamental human rights. As governments and large corporations increasingly adopt AI, How can we regulate its use to prevent abuses and safeguard our rights? Like a double-edged sword, AI can be wielded for good or evil. Unfortunately, we currently lack adequate regulations to ensure ethical…

A motion has been tabled in Parliament to allow the Cabinet Secretary for Transport to determine and regulate fares for public service vehicle operators. The National Transport and Safety Authority (Amendment) Bill, 2023, by Kimilili MP Didimus Barasa, aims to grant the Transport Cabinet Secretary substantial control over public service vehicle (PSV) fares in what could spark a clash of interests between the government and private investors within the transport sector. If the National Assembly approves this amendment, it will squarely place the responsibility on the Cabinet Secretary’s shoulders to establish minimum and maximum fare limits for passengers using public…

The spirit of the directive seeks to tame tax evasion and undervaluation of cargo, but lived reality is driving traders out of business. By Mumbi Mutoko Small-scale traders and importers are feeling the weight of implementing a directive by the Kenya Revenue Authority (KRA), which has made significant tax changes on loose cargo. According to KRA, the directive would mean duty will be applied on the value of imported goods and aims to reduce tax evasion cases through false declaration, resulting in substantial revenue losses. Small-scale importer and trader Dennis Wambua, who spoke to Nairobi Law Monthly, says the move…