Author: NLM Correspondent

By Fredrick Mainda Majority of Kenyans are likely to blame a public officer whenever corruption is brought up in a public discourse. This may be attributed to immense obligations and expectations placed on public and state officers by the legal instruments in the fight against corruption. Whereas public officers bear the greatest responsibility in promoting integrity not only in public service but also in society, one may argue, has caused a negative effect on the general public who are seen as inconsequential in graft fight. The Constitution and other legal instruments have placed a civic duty on the public to…

Financial technology (fintech) enterprise Branch International has welcomed the approval from Central Bank of Kenya (CBK) backing its plan to buy Century Microfinance Bank Limited (Century MFB). Branch International Limited (Branch), a digital lending financial solutions provider through its local subsidiary Branch Kenya, has secured the necessary Ministerial exemption and regulatory approvals allowing it to conclude the acquisition of a majority stake in the deposit-taking microfinance bank. With the acquisition, Branch Kenya will soon be making a landmark transition as the first digital lender to expand into the microfinance banking market, allowing for deposit-taking financial services and enhanced lending…

By victor adar When Fransisca Ochieng’ moved from the United States to Kenya in 2014 to work for a financial services firm which doubles as an audit company, little did she know that getting “natural” quality skin care products locally was going to be an uphill task. It was upsetting that the investment banking professional could not get her favourite brands from the local market. At some point, she bought beauty products that had harmful chemicals, and had to dispose them off. That is how she developed a keen interest in starting Lheritier, a skincare company. Her first natural product…

As the tech sector waits for regulators to catch up, ndividual companies can do more to protect consumers By Lesly Goh and Buhle Goslar The last decade has seen an acceleration in the digitization of many aspects of our lives including financial services, commerce, education, and healthcare. Data gathering and exchange have accelerated alongside this swift uptake of digital engagement, and data has become the new essential commodity—with Africa as the next frontier. However, this rapid change brings along questions of data governance and privacy, especially as the implementation of the African Continental Free Trade Area (AfCFTA) moves forward. As…

Gig work might be the hope for the future in Kenya as economies continue to remain constrained because of job losses and minimal job creation By Victor Adar In 2020, people were surprised to see small cars turned into “viosks” on Thika road by pass, Thika Super Highway. During that time, most car owners would go to Kinangop to bring fresh farm produce and start selling on the roadside. And, for the nearly nine months that learning institutions were closed as a measure to control the spread of coronavirus, people were surprised to see schools being converted into chicken rearing…

By Antony Mutunga After a testy pandemic period, the economy has reopened as the world gradually returns normalcy. Months after reopening, the Kenyan economy has continued to record positive growth in different sectors, with retail seeing an increase in demand for prime retail shops. According to Knight Frank’s Kenya market update H2 2021 report, there was a slight increase in prime rents from Sh454.60 ($4) per square foot (sq. ft) per month in to Sh465.96 ($4.10) per sq. ft per month and an increase in retailer activity in acquiring new units. There has also been an increase in foot and…

The partnership will improve international tax standards and enhance tax transparency globally The Kenya Revenue Authority (KRA) and the Organization of Economic Cooperation and Development (OECD) will now prioritise technical engagements on OECD/G20 Inclusive Framework (IF) on base erosion and profit shifting agreement formed after the end of a recently held three-day workshop in Naivasha in a joint effort to address tax challenges arising from the digitalisation of the economy. Senior technical officials led by KRA Commissioner General Githii Mburu and the Director of the Centre for Tax Policy and Administration at the OECD, Mr Pascal Saint-Amans, confirmed that the…

AfCFTA supporters are betting that full tariff liberalization of vehicle manufacturing and food processing will unlock billions in regional trade. By Guest Writer Vehicle manufacturing and food processing have been touted as the next big drivers of Intra-African trade as the single largest world market-AfCFTA readies to enter its second implementation phase in less than a month. A new report, “Economic Development in Africa 2021: Reaping the potential benefits of the African Continental Free Trade Area for inclusive growth” by the United Nations Conference on Trade and Development (UNCTAD), shows vehicles have the largest untapped export potential of $1.4 billion,…

By Peter Wanyonyi Vladimir Putin, formerly a KGB spy, has never been one to keep his adversaries guessing. In July 2021, Russia’s president laid out what was to become his rationale for dismembering Ukraine this past February. At times sounding like a history professor lecturing naughty schoolkids, Putin referred to centuries of Russian history, pointing out that the polity known as “Ukraine” did not exist as an independent country until 1991, when the Soviet Union broke up. “Ukraine’s sovereignty”, Putin stated, “is only in partnership with Russia.” Translation: Ukraine is an imaginary country, a historical part of Russia that the…

By Gabrielle Lynch, Justin Willis, Nic Cheeseman As Kenyans approach a general election in August 2022, many lack confidence in the electoral process. According to a national opinion poll conducted by Afrobarometer in 2019, only 29.2 percent of Kenyans thought that the country’s 2017 election was free and fair. Another 33.5 percent thought that there were minor problems, 12 percent that there were major problems, and 21.7 percent that the elections were not free and fair at all. Moreover, according to a 2021 poll commissioned by South Consulting, although around half of Kenyans have confidence in the electoral commission to support a free…