Author: David Indeje

Standard Chartered has launched the 20th edition of the Standard Chartered Nairobi marathon at Uhuru Gardens. The ceremony was attended by over 200 guests, including key delegates such as the Deputy Governor of Nairobi City County, the Athletics Kenya President, and the CEO of Standard Chartered. The 20th edition, held under the theme “20 years of running,” marks two decades of the Bank’s commitment to delivering a premier, IAAF-accredited international mass participation sporting event. The marathon aims to provide a platform for elite athletes, stimulate community engagement, inspire Kenyans to better themselves, promote innovation and collaboration, and have a positive…

The Kenyan judiciary launched the Digital Sex Offender Registry, accessible to legal officers and the public. The purpose of the digital sex offender registry is to address the lack of reliable data on sexual offences and enhance public safety.  https://twitter.com/CJMarthaKoome/status/1673279808216657921?s=20 It allows legal officers and the public to access information about convicted sex offenders, which can help prevent and rehabilitate sexual offenders, facilitate post-prison monitoring, and provide information to protect children and other vulnerable people from known sex offenders.  Chief Justice Koome while launching it on June 26, highlighted the registry’s role in addressing sexual, gender-based violence, and child abuse…

Safaricom plans to incorporate a new subsidiary company dedicated to investing in startups, supporting the growth and development of technology entrepreneurs. The proposed subsidiary will operate independently, with its team responsible for identifying potential startups and managing the investment portfolio. By streamlining the investment process, Safaricom aims to enhance its ability to support promising early-stage companies and provide them with the necessary resources to thrive. This proposal is one of the items that will be transacted at the firm’s 2023 Annual General Meeting (AGM) to be held on Friday, July 28th, 2023. Other proposed items include the approval of a…

Kenya’s Q1 economy dropped by 0.9 per cent compared to a similar period in 2022 amid a slowdown in economic activities. Data from the Kenya National Bureau of Statistics (KNBS) shows that economic growth in the first four months of April dropped to 5.3 per cent from 6.2 per cent during a similar period in 2022. “Kenya’s economy expanded by 5.3 per cent in the first quarter of 2023, compared to a 6.2 per cent growth in the corresponding quarter of 2022,” KNBS said in a statement. “The growth was largely supported by a rebound in agricultural activities.” “The significantly…

The East African Community (EAC) partner states imposing visa requirements on regional citizens have until November to abolish the requirement. During the 42nd Meeting of the Sectoral Council of Ministers on Trade, Industry, Finance and Investment (SCTIFI), South Sudan said South Sudanese are still charged visas in some EAC Partner States. The Ministers expressed concern that Partner States still impose visa requirements on EAC citizens and emphasized the need to expeditiously remove the requirements, adding that such could also hinder access to the African Continental Free Trade Area (AfCFTA). Currently, the EAC is among the State Parties that have met…

Kenyan banks have reported an increase in bad debts, resulting in the share of non-performing loans (NPLs) reaching a 16-year high, according to the latest data from the Central Bank of Kenya (CBK). Total non-performing loans in the banking system rose from KSh487.7 billion in December to KSh570.6 billion by the end of April. The current NPL ratio of 14.9 per cent is second only to the 15.04 per cent recorded by the banking sector 16 years ago in June 2007. During that time, the gross loan book was KSh470 billion, with gross defaults amounting to KSh70.7 billion. The CBK…