Author: NLM Correspondent

A trading system backed by the Afreximbank offers African states an opportunity to pivot away from a reliance on dollars, euros and pounds. Seth Onyango, bird story agency Afreximbank is set to expand a local currency trade initiative, the Pan-African Payments and Settlement System or PAPSS, beyond its early adopters in order to provide greater financial autonomy to African traders. This follows the successful pilot of PAPSS, billed as a project to advance intra-continental commerce transactions in local currencies, in nine countries. Afreximbank President Benedict Oramah, speaking at the 30th anniversary of Afreximbank in Accra, announced that the roll-out of…

Sudan has rejected President William Ruto’s selection as the head of a mediation quartet tasked with facilitating peace under the regional bloc, Intergovernmental Authority on Development (Igad). The leader of Sudan’s junta, Abdel Fattah al-Burhan, accused Kenya of harboring sympathies for the Rapid Support Forces (RSF), a group whose leader, Mohammed Hamdan Daglo Hemedti, was once Al-Burhan’s deputy but is now considered an arch-enemy. In a recent statement, Sudan rejected the Igad mediation schedule, which would have involved Ruto arranging a face-to-face meeting between the two warring generals for the first time. Despite Sudanese protests, Igad has insisted on maintaining…

Tax proposals have elicited deeply-entrenched opinions The National Assembly witnessed a fiery debate as Members of Parliament engaged in a heated discussion over the much-debated Finance Bill, 2023. With a proposed 1.5% housing levy at the forefront, emotions ran high as legislators expressed their divergent views on the matter. Supporters of the Bill, mainly from the ruling Kenya Kwanza Coalition, drummed up support for the Bill, terming it a reflection of the country’s aspirations. Molo MP Kuria Kimani, a member of the Finance Committee, staunchly defended the bill saying the revised version reflected the wishes of Kenyans following spirited public…

Parliament’s Finance Committee proposed a reduction in the tax on digital content creators from 15% to 5% President William Ruto has beat a tactical retreat and ordered a review of a section of the Finance Bill 2023, proposing a reduction in the tax on digital content creators from 15% to 5%. This comes after the Finance Committee of the National Assembly recommended the change, which was subsequently adopted by the members of the Departmental Committee on Finance and Planning. The bill originally suggested a 15% withholding tax on income generated through digital content monetization, significantly higher than the current 5%…

The Parliamentary Committee on Finance, led by Molo MP Kuria Kimani, has announced a resolution to contentious clauses in the Finance Bill 2023 during a retreat in Naivasha. Although the amended clauses were not disclosed, the committee assured the public that all views and petitions had been considered. Over the past few weeks, two major issues have dominated discussions surrounding the bill: the implementation of a three percent housing levy and a 16 percent value-added tax (VAT) on petroleum products, witht he opposition calling for the government to drop those provisions. During the press briefing held in Naivasha, MP Kuria…

Nominated Member of Parliament Sabina Chege will continue to serve as Deputy Minority Whip in the National Assembly as a court case challenging her ouster unfolds. The High Court in Kiambu issued conservatory orders on May 30, 2023, preventing her replacement until a resolution is found. The petitioners argue that the National Assembly’s Standing Order No. 20(a)(4) does not provide a clear process for removing a Whip or Deputy Whip. While the Minority Party has completed all requirements for the replacement, Speaker Moses Wetangula expressed his predicament in adhering to the court’s orders. “On one hand, the minority party has…

Green Future The World Bank has called for the electrification of Kenya’s Standard Gauge Railway (SGR) trains, emphasizing the urgent need to shift from diesel-powered locomotives to electric ones. A report obtained by Nairobi Law from the World Bank titled “Kenya Economic Update, June 2023” highlights the significant environmental and economic benefits of adopting low-carbon logistics in the country’s freight transportation sector. Kenya has been actively working towards maintaining a low-carbon comparative advantage while enhancing its freight logistics efficiency. The completion of the SGR and the revival of other rail lines have played a crucial role in this endeavor. By…

Busia Senator Okiya Omtatah has alleged that Kenya has successfully cleared all its debts and, astonishingly, even surpassed the required payment by an impressive Sh1 trillion. The Senator asserts that government records indicate consistent payments to lenders, although the debt portfolio has not been updated over the years. According to Omtatah, funds are being disbursed from the exchequer (National Treasury) but are not allocated towards debt repayment as intended. Instead, he alleges that a select few individuals benefit from these misappropriated funds. “Kenya has overpaid its debt by more than Sh1 trillion; we do not owe anybody anything,” Omtatah said…

The court’s decision could have significant implications for the employment rights of content moderators, who often work under challenging conditions, including exposure to disturbing content In a significant setback for Meta, formerly known as Facebook, the Employment and Labour Court has ruled that the social media giant is the primary employer of content moderators in Kenya. The decision came in response to a lawsuit filed by 184 moderators who accused Meta and its content review partner in Africa, Sama, of unlawful dismissal. The moderators also alleged that Meta’s new content review partner on the continent, Majorel, had blacklisted them under …

Ngumi’s resignation was confirmed by Kenya Airways’ board of directors chairman, Michael Joseph, who also announced the appointment of James David Kabereri as an interim replacement pending an annual general meeting.