Author: David Indeje

Kenya’s teenage pregnancy rate is one of the highest in the world. According to the latest data from the Kenya Demographic and Health Survey, a report by the Kenya Bureau of Statistics (KNBS), 15 per cent of women aged 15–19 have ever been pregnant, and 12 per cent have had a live birth. This worrying statistic is a cause for concern in Kenya and has far-reaching implications that should be addressed immediately. The survey paints a bleak picture for a nation that already faces many challenges in healthcare, poverty, and education. It makes it even more concerning considering that 1%…

The National Treasury plans to cut the budget deficit to 4.3% of GDP in the 2023–24 financial year from an estimated 5.8% in the current period. In addition, it plans to cut a further 3.6% in the 2026–27 financial year period according to its Draft 2023 Budget Policy Statement themed “Economic Recovery Agenda to Promote Inclusive Growth.” Treasury targets to grow tax revenues above 17.8% of GDP in the FY 2023/24 and above 18.0% of GDP over the medium term. “As part of the economic turnaround plan, the Government will scale up revenue collection efforts by the Kenya Revenue Authority…

The East Africa Community (EAC) anticipates a single regional currency in the next four years, EAC Secretary General Dr Peter Mathuki says. Mathuki disclosed that the Council of Ministers is likely to decide soon on the location of the East African Monetary Institute, a precursor to the East African Central Bank that will issue the single currency. “This year will are going to finalise where we will have the East Africa Monetary institute – the constitution that will create a roadmap for having one currency. Hopefully in the next 3-4 years will have a common currency,” said Mr Mathuki. “The…

MySafaricom App has been significantly updated to improve the user experience, with features such as the Bonga Spin & Win Promotion, Go Monthly Bundles, and more. Among other features, the lifestyle platform offers users the ability to view and download their M-PESA receipts and a quick way to pay for 4G home internet, according to the company. The MySafaricom App has four menus: Home, M-PESA, Discover, and Account. Below is what you get to find and see. The updates made in December 2022 provide an easy and efficient way for customers to access Safaricom products and services under one roof,…

Intra-East African Community trade continued to rise after hitting $10.17 billion in September 2022, according to the Secretariat. Imports and exports in the seven East African Community Partner States grew from $7.1 billion in 2019 to $9.5 billion in 2021. By September 2022, the trade value was recorded at $10.17 billion, representing a 20 per cent share in global trade. Non-Tariff Barriers Peter Mathuki, EAC Secretary General, attributed the increase in intra-regional trade to political goodwill among members of the Summit of EAC Heads of State and the relaxation of COVID-19 restrictions in the region. “The high-level discussions among the…

Centum Investment Company PLC has backtracked on a buyout deal with Nigerian lender Access Bank. In the deal, Nigeria’s biggest lender, Access Bank Plc, was to acquire Centum Investment’s 83.4% stake in Sidian Bank. Centum owns 83.4% of Sidian’s issued shares directly and through its wholly-owned subsidiary, Bakki Holdco Limited. However, in a statement on Thursday, January 12, 2022, the investment company’s CEO, James Mworia, said that the company was forced to abandon the deal after the agreed “long stop date” expired.” “The Long Stop Date has passed without all the conditions being fulfilled or waived, despite the support and…