Author: NLM Correspondent

BY ANTONY MUTUNGA On April 2 of this year, National Treasury Cabinet Secretary Ukur Yattani presented before Parliament a Sh3.3 trn budget for the next financial year. The national budget for the year 2022/23, which was presented two months earlier than usual because Kenyans will be going to the polls come August, has hit a new high as its total estimates stand at Sh3.3 trn, an increase from Sh3trn FY’2021/22 outlined in June last year. The upward trend has been witnessed ever since the current government took over – the budget has increased about three times from Sh1.3 trillion FY’2013/2014.…

By Antony Mutunga In 2018, Africa decided to overcome tariff and non-tariff barriers to create a single market for goods and services, leading to the foundation of the African Continental Free Trade Area (AfCFTA). This was a chance to promote intra-African trade and, as a bloc, give Africa more power in terms of negotiations with other blocs or developed countries. It was set to be implemented in 2020, but the pandemic delayed the process, leading the trade to start in earnest in January 2021. Since then, more countries have sent in their instruments of ratification. The number stood at 41…

What does the Africa Continental Free Trade Agreement means for businesses, particularly players in the online space? Will e-commerce be a solution to the integration? By Siyanda Makhubo The current nature of international relations, which demands the mobilisation of collective capacities of states and non-state actors (enterprises and individuals), to find a durable solution which would help to improve the living standard in African countries, marks the founding reasons for the Africa Continental Free Trade Agreement (AfCFTA). This aligns with agenda 2063 of the African Union, which seeks to build the “Africa we want”, promoting intra-regional connectivity between capital cities…

Food insecurity set to grow as Russia-Ukraine conflict continues – experts BY ANTONY MUTUNGA The fundamentals of the recent trade wars between the United States of America and China show that the world is connected in more ways than one. The current Russia-Ukraine conflict that began in the last days of February is also raising fears – its effects are being felt not just in Kenya, but also in Africa. Ever since the invasion began, vulnerable African citizens who have been caught on the ground in the eastern European nations have faced discrimination and racism as they tried to flee…

By Abdihakim B. Mohamed In 2008, Lehman brothers, a giant US investment bank, imploded, spinning the financial systems out of control, and leaving a trail of turmoil that affected businesses and the US economy. The financial and economic tremors quickly spread in key global markets, triggering what some described as parallel to the great depression. Global economy caught a fever, from the sneezing of the Lehmann brothers. The phrase, too big to fail, hitherto, largely confined to the finance and business circles, was thrust to the fore and became a frequent jargon in the midst of the financial chaos. Having…

Agriculture seems to be the word on Fergus Robley’s lips. The general manager of Farm Machinery Distributors (FMD), the oldest Massey Ferguson distributor in Africa, says that their success is hinged on right partnerships with customers that can be traced back to 1958 when Massey Ferguson started manufacturing tractors. The company has evolved over the years, but has remained true to Kenyan farmers by offering mechanised agricultural solutions through the sale and aftermarket support of implements and tractors. He spoke to Victor Adar on challenges and opportunities in the agriculture sector.  Some dealers have a niche. Would you say that…

Listed agri-business firm Kakuzi Plc has received a global certification confirming that its avocado and blueberry farming operations adhere to sustainable approaches to water resources management. The firm has received the “GLOBALG.A.P. SPRING” certificate of conformity, a farm-level certification that helps producers, retailers, and traders demonstrate their commitment to sustainable water management. Under the Sustainable Program for Irrigation and Groundwater use (SPRING) certification program, food system stakeholders are expected to provide evidence documenting their efforts to manage water risks and promote sustainable practices. According to Kakuzi Plc managing director Chris Flowers, the firm received the certificate to add to its…

Why government should support the Postal Corporation of Kenya to lead the e-commerce revolution By Francis Muriuki A new trend could be witnessed in the retail sector as economies recover from Covid-19 pandemic. For the past two years, most consumers preferred online shopping through e- commerce platforms as opposed to physical shopping. And the consumer behaviour change is set to change the retail sector landscape in a big way. The good thing is, Postal Corporation of Kenya (PCK) may be in for a sweet experience. The organization is well positioned to spearhead the use of e- commerce not only in Kenya…

The Nairobi Securities Exchange (NSE) has picked Mbithe Muema as its new chief business officer after Terrence Adembesa left the firm to take on a new role as chief executive of East African Bond Exchange. With over 15 years of experience covering African capital markets, having worked in African and global financial centres, Ms Muema, has extensive expertise in the fields of capital markets, investment advisory, corporate strategy, and financial modelling, among others. She is the CEO of Infallible Group, a financial consultancy company that focuses mainly on the African continent. She previously worked with Renaissance Capital, African Alliance, Exotix…

Learning at Kasambara Primary School in Nakuru County has been boosted following the donation of learning materials by Lake Elementaita Mountain Lodge (LEML), a development of real estate company Superior Homes Kenya. The learning materials were donated by the staff members of LEML in partnership with publishing firm East African Educational Publishers (EAEP) and included textbooks, story books, exercise books, dictionaries, masks and pens. LEML team, led by the general manager Charles Wambogo noted that education was a core part of their social responsibility and as such, schools were a key constituent of their sustainability efforts. “As staff we came together…