High fuel costs in Kenya after enactment of the Finance Act 2023 is projected to increase transport cost along the Northern Corridor by more than 30 percent, with an already apparent shift to by traders to rail to ferry cargo from the Mombasa port. Recent data by the Kenya Ports Authority shows a shift to use of railway to the Naivasha Inland Container Depot (ICD) for both containerised and conventional cargo for the last three months despite Kenya announcing return of port services to Mombasa. The Shippers Council of Eastern Africa (SCEA) has already shown preference for railway to cut…
Author: NLM Team
GDP grew by 5.3 percent in the first quarter of 2023, posting a faster pace than the 3.7 percent recorded in the quarter ending December 2022. Kenya’s economy slowed down to 5.3 percent in the first quarter of 2023 from 6.2 percent in the same period of 2022, due to a fall in activities in manufacturing, construction and transport sectors, the national bureau said Tuesday. At the same time, the country’s gross domestic product expanded by 5.3 percent in the first quarter of the year, a faster pace than 3.7 percent in the previous period ending December 2022. “The 5.3…
African financial leaders have taken up the push for a re-engineering of the global financial architecture, seeking a model that works for the continent. The issue took centre stage at the 2023 General Shareholders Meeting of Africa50 and Infra for Africa Forum in Lome, Togo, on July 3, the issue took centre stage, with African Development Bank (AfDB) president Akinwumi Adesina terming the current regime as “failing the world”. “It is not able to mobilise the capital that the world needs to meet all of its development needs,” Dr Adesina said. “It is also failing developing countries because you can…
Consumers brace for even higher fuel prices as Saudi Arabia cuts oil production to shore up prices East Africa is staring at another round of fuel price rises following a move by Saudi Arabia to cut supply by one million barrels per day, with the 13-member group of oil producers (Opec) agreeing to extend their previous oil supply cuts of 3.6 million barrels per day to the end of 2024. Saudi Arabia announced it it would begin cutting oil production by 1 million barrels per day in July to support the “stability and balance of oil markets”, a move analysts…
The High Court has suspended for a week the implementation of the Finance Act, 2023, pending the the hearing and determination of a suit filed by Busia Senator Okiya Omtatah. In her ruling, Lady Justice Mugure Thande gave conservatory orders suspending the implementation of the Finance Act pending hearing of Senator Omtatah’s suit, noting that his application met the threshold for the conservatory order in his bid to have sections of the Act expunged. “I am satisfied that the Application meets the test for conservatory orders and I do grant prayers 2 and 3 of the Application until 5.7.23 when…
The number of cyberattacks on businesses in Kenya, South Africa, and Zambia increased by 76% in 2022. This is according to the latest cyber security report – ‘The Evolving Cyber Security Landscape in Africa 2022’ by Liquid C2, a business of Liquid Intelligent Technologies, a pan-African technology group. Featuring research, analysis, and findings on the evolving cyber security threats present in Africa, the report shows that cyberattacks against all large enterprises ramped up dramatically: Kenyan businesses reported an 82% increase in such attacks, while South African businesses recorded a 62% increase, and Zambian businesses a 62% increase. “The biggest concern emerging…
The Cabinet has approved the establishment of a special committee on pending bills. The Pending Bills Verification Committee will be tasked with the auditing of liabilities for the period between 2005 and 2022. In a meeting chaired by President William Ruto at State House, the Cabinet noted that pending bills remains a sticky issue, with National Government pending bills since for the period under review standing at Sh481 billion, and Sh159.9 billion for counties. The Committee will consist the Attorney General, the State Department of Roads, the State Department of Public Works, the State Department of Housing and Urban Development…
Kenya has been elected to take charge of the regional war ag against illicit small arms trade in Great Lakes region and Horn of Africa, following a unanimous endorsement from representatives of 15 member states of the Regional Centre on Small Arms and Light Weapons (RECSA). Interior Principal Secretary Raymond Omollo said this new role effectively expands the country’s scope of responsibilities in the efforts to stop illicit arms trade and foster sustainable peace and security in the region. Omondi relayed Kenya’s readiness to advance RECSA’s agenda, including ending violent conflicts, terrorism, organized crimes and humanitarian crises fed a proliferation of…
The Environment and Land Court at Malindi has issued an order to Cabinet Secretary for Foreign Affairs Alfred Mutua to relocate a toilet following a suit filed by his neighbour. The case arose when Mutua’s neighbour at the Karibuni Villas in Malindi, Felicita Conte, complained and subsequently sued about the toilet positioned uncomfortably close to her dining area. In his response, Mutua argued that he had obtained all necessary building approvals and constructed the toilet, but the court held that it was not enough to remedy the foul situation and ruled in favour of Ms. Conte, deeming the toilet and septic…
Buoyed by his bosses’s shared disdain for the Fourth Estate, Trade CS has ignored a court order preventing him from insulting media, in what could set a precendent for how the Kenya Kwanza relates with courts Trade and Industrialization Cabinet Secretary Moses Kuria has yet again insulted the media, ignoring a court order that prevented him against using slanderous language against Kenyan media. The High Court last week issued an injunction forbidding Kuria from using disrespectful or foul phrases toward any media outlet. Justice Lawrence Mugambi issued the orders in an application filed by human rights defender and lawyer Charles…
