Author: David Indeje

Kenya’s banking system needs to collaborate and work together to minimize the risks of innovation while maximizing the benefits, the central bank says. According to the Central Bank of Kenya’s ‘the banking sector innovation survey’ this will enable the financial sector to address the risks and challenges arising from cyber security and the disruptions being thrown up by technology adoption. The survey found that Cyber-risk (data privacy and data security risk) turned out to be the key risk for institutions in their innovation endeavours, similar to the findings of the 2018-2020 Innovation Surveys. In the survey, 92 percent of banks…

Kenya’s minimum wage will be 12 percent higher in 2022, President Uhuru Kenyatta said, from the current Ksh 13,500. The minimum wage was last reviewed in 2018.  “I today declare an increase of the minimum wage by 12 percentage points with effect from today,” he said while addressing Kenyans during Sunday’s 57th Labour Day Celebrations at Nyayo Stadium in Nairobi. “In that regard, and in full appreciation of the critical contribution of workers to the economy; following the recommendation of various stakeholders; as a caring Government, we find that there is a compelling case to review the minimum wages so…

The Kenyan government says its listing as a signatory to the Declaration for the future of internet is erroneous. Government Spokesperson Cyrus Oguna says protocol was not followed in the signing of the declaration that is aimed to protect an open, safe internet. “While we are listed as a signatory to the declaration, we wish to state that, as a country, we have not gone through our processes and laws for endorsing this declaration. As per our laws, Kenya can only be a signatory to any international instrument after Cabinet approval, and ratification by the National Assembly,” he said. “The…

Going well beyond the realm of possibility in global imaging technology, Canon Central and North Africa launched its revolutionary and technologically advanced full-frame mirrorless camera in Africa in February 2022. This is the professional-grade EOS R3 that has stolen the hearts of photographers and content creators alike.  Building on the success of the EOS R camera series, the Canon EOS R3 is packed with robustness and performance that can deliver maximum speed, versatility, and reliability for sports, wildlife photographers, and reportage.  Canon’s philosophy lies with the Japanese word Kyosei, which simply means living and working together for the greater good,…

Twelve African countries blocked or disrupted internet connection 19 times in 2021, three more countries than in 2020, said a report by digital rights advocacy group Access Now. In 2021, authorities deliberately shut down the internet at least 182 times across 34 countries. Access Now’s report – The return of digital authoritarianism: internet shutdowns in 2021 – unpacks the data, trends, and stories behind a year’s worth of internet shutdowns, released Thursday. “With a gradual return to normalcy following the outbreak of the global COVID-19 pandemic, we saw a dramatic resurgence of internet shutdowns1 in 2021. During this year, Access…

The International Monetary Fund ( IMF) has reached a staff agreement to advance KSh 28 billion loan to Kenya as part of the $2.3 billion Special Drawing Right (SDR) approved in April 2021. However, the agreement is subject to the approval of IMF management and the Executive Board. The agreement is the third review of the economic policies program which took place between March 31 and April 22. International Monetary Fund (IMF)  EFF and ECF Financing Programme Date Amount Received (USD mn)  Amount Received (Kshs bn) Apr-21 307.5 35.6 Jun-21 407.0 47.1 Dec-21 258.1 29.9 April-22 *244.0 *28.2 Total Amount…