Author: David Indeje

Kenya’s fiscal deficit is likely to stay at the budget estimate of 6.2 percent of gross domestic product (GDP) in 2022-23, according to Finance Minister Ukur Yatani. The fiscal deficit estimated by the budget is Ksh 862.5 billion. This is equivalent to 6.2 percent of GDP in the financial year to July down from Ksh 1,024.3 billion equivalent to 8.1 percent of GDP in the FY 2021/22. “The fiscal deficit will be financed through net external financing of Ksh 280.7 billion equivalent to 2.0 percent of GDP and net domestic financing of Ksh 581.7 billion equivalent to 4.2 percent of…

Kenya’s Finance Minister Ukur Yatani presented July 2022 to June 2023 spending proposals to parliament on Thursday. The government plans to spend an estimated KSh3.31 trillion budget. Themed  “accelerating economic recovery for improved livelihoods”, the budget estimates aims to help citizens recover from the negative impact of the coronavirus pandemic. Encouraged by better-than-expected growth in 2021, Yatani expressed confidence that the economy would expand by 6 per cent in 2022 from an estimated 7.6 per cent in 2021, and the fiscal and current account deficits would remain within limits at 5.9 per cent of the Gross Domestic Product. According to…

Twitter is exploring adding an edit button it said on Tuesday. If actualized, the edit button would appear in the dropdown menu on an already-published tweet, alongside the delete and pin buttons. “We’re kicking off testing within @TwitterBlue Labs in the coming months to learn what works, what doesn’t, and what’s possible,” a tweet from the communications team said. https://twitter.com/TwitterComms/status/1511456430024364037?s=20&t=UhUmayHvnvLwv5inkTcdSg Jay Sullivan, the head of consumer product at Twitter,  confirmed the possible change.  “Edit has been the most requested Twitter feature for many years,” he said. “People want to be able to fix (sometimes embarrassing) mistakes, typos and hot takes in…

Sunday, the Safaricom Youth Orchestra (SYO)  will be teaming up with the Art of Music Foundation and Ghetto Classics to present their first-ever public performance after two years. However, the hallmark will be music students being awarded certificates in orchestral music they have learned to play ranging from the Flute, Alto Sax, Trumpet, and Violin. The 8th Safaricom Youth Orchestra graduation. The previous two have been held virtually due to the coronavirus pandemic. The SYO will perform classical pieces, a James Bond medley from the movies, and a special performance of folk fusion. “Everything the repertoire has is worth listening…

Nairobi’s Vijana Amani Pamoja is going to benefit from Standard Chartered Kenya’s Goal programme after launching its computer lab. Vijana Amani Pamoja is a community scheme that leverages the power and the popularity of the game of football as a metaphor for social and economic empowerment. Goal is Standard Chartered’s leading education programme that provides financial literacy, life skills, and employability training to low-income adolescent girls across its footprint. Futuremakers’ Goal programme uses sport, play and life-skills education to transform the lives of adolescent girls across our markets. The Computer Lab donation will go towards supporting the Mauzo Mtandaoni Project…

Central Bank of Kenya’s Monetary Policy Committee (MPC) on Tuesday left interest rates unchanged for the 13th consecutive time at 7.00 percent to support economic recovery. “The Committee noted that inflation expectations remain anchored within the target range supported by the Government’s policy interventions, and leading economic indicators show improved performance. The MPC also noted the elevated global risks and their potential impact on the domestic economy,” Dr. Patrick Njoroge said. The Tuesday meeting was being held against the backdrop of a changed global outlook with heightened geopolitical tensions, volatile commodity prices, the coronavirus pandemic, and measures taken by authorities…