Author: David Indeje

The Central Bank of Kenya (CBK) has approved 12 more digital credit providers (DCP), bringing the total number of licensed digital lenders to 22. The CBK said it had received 381 applications since March 2022. “Other applicants are at different stages in the process, largely awaiting the submission of requisite documentation. We urge these applicants to submit the pending documentation expeditiously to enable completion of the review of their applications,” said CBK. Those approved include Tala, Inventure Mobile Limited (Trading as Tala), Letshego Kenya Ltd, MFS Technologies Limited, Letshego Kenya Ltd, Natal Tech Company Limited, Ngao Credit Limited, and Pezesha…

The Media Council of Kenya (MCK) has introduced QR codes to ensure compliance and ethical and professional standards amongst journalists and media enterprises. Under this, journalists and media practitioners operating in Kenya will be allowed to use press cards with barcodes and QR codes to know whether those accredited are authentic. As a result, on Friday, the Council recalled all accreditation cards it had previously issued to journalists. https://twitter.com/MediaCouncilK/status/1618862954522501121?s=20&t=oPez1n9eP_l1DN1JYJMp8A “Following increased incidences of misrepresentation by persons bearing Media Council of Kenya (MCK) accreditation cards and reported cases of forgeries of the cards, effective today, 27 January 2023, all Media Council…

Nearly all the electricity users across categories in Kenya will be paying more for every unit of electricity they consume if new proposals from the utility company are passed. Kenya Power has requested the Energy and Petroleum Regulatory Authority (EPRA) to approve their proposed tariffs to make domestic consumers pay KSh14 per kWh for up to 30 kilowatts of power. At the same time, those exceeding 30kWh per month expected KSh21.68/kWh, a figure set to drop to KSh20.61 in July 2024. “The rationale of this Retail Tariff Review is to incorporate change in Electricity Sub-sector cost structure and update key…

Kenya Railways will phase out cash payments for tickets starting February 1. “We wish to notify our customers and general public that effective February 1 2023, we will no longer be accepting cash for purchase of tickets at all Madaraka Express Passenger Service Stations,” reads the notice. https://twitter.com/KenyaRailways_/status/1617935041975418881?s=20&t=cKS8Jr1HGDbDqPXjy38LzQ According to a 2022 Visa survey, an estimated (71%) of businesses in Kenya use cash as a means of payment, compared to the higher use of cash by companies in South Africa (91%) and Nigeria (94%). In addition, the less use of cash among Kenyan businesses is reflected in the high preference…

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…