Author: David Indeje

Land prices in Nairobi suburbs increased by 0.34 per cent and in satellite towns, growth stood at 1.4 per cent for the fourth quarter of 2021 due to the general economic recovery, according to a study conducted by HassConsult. In Kilimani, prices continue to cool as investors go slow on the area due to uncertainty on whether the present infrastructure will support the new wave of developments the area is now attracting, thus weakening its appeal. “A few years ago, it was the exception for residential buildings to have a lift but today it is the norm. The new developments…

Kenya’s inflation declined to 5.39 per cent in January, mainly due to lower electricity and transport costs, according to government data released on Monday. The Consumer Price Index-based (CPI) inflation was at 5.39 per cent in January compared to 5.73 per cent in December 2021 the Kenya National Bureau of Statistics said. As per the data released by the KNBS, the CPI increased by 0.31 per cent from an index of 118.274 in December 2021 to 118.642 in January 2022 with the month-to-month Food and Non-Alcoholic Beverages Index increasing by 1.07 per cent between December 2021 and January 2022. During…

Kenya’s foreign exchange reserves declined by 8.715 billion dollars to 8.287 billion dollars in the week ended Jan 28, according to CBK data. In the previous week ended Jan. 20, the reserves were at 8.7 689 billion dollars.  The fall in reserves was due to higher demand for dollars from importers to meet their end-month. Besides the decline, the forex reserves remain adequate and continue to provide cover and a buffer against short-term shocks in the foreign exchange market.  The new reserves cover 5.07 months of import cover, down from 5.33 months of cover. “The usable foreign exchange reserves remain…

Kenya’s current account deficit widened to 5.4 per cent of gross domestic product in 2021 above the year’s projection by the central bank. The central bank had projected 5.2 per cent of gross domestic product for the year.  In 2020, the deficit was recorded at 4.6 per cent of GDP. “This reflects a higher import bill, particularly oil, which more than offset increased receipts from agricultural and services exports, and remittances,” the bank said Friday in its weekly bulletin.  “It is important to its true what we had projected 5.2 per cent. So why the difference, well it’s 0.2 per…

Rwanda and Uganda have mutually agreed to reopen the Gatuna-Katuna border post on 31st January 2022.  The border was closed in February 2019 after Rwanda issued an advisory to its citizens warning them against travelling to Uganda over security concerns.  Rwanda’s Ministry of Foreign Affairs said the truce was after President Paul Kagame hosted Uganda’s Lt Gen Muhoozi Kainerugaba.  “The Government of Rwanda has taken note that there is progress to solve issues raised by Rwanda as well as commitments made by the Government of Uganda to address remaining obstacles,” the statement reads in part. “The Government of Rwanda remains…

Zamara Group on Thursday said it has expanded its pension plan Fahari Retirement with a  new product that will allow Bodaboda operators to save. The product is being rolled out in partnership with the United Bodaboda Association of Kenya. “Bringing Boda Boda Association on board is a key component to us as Zamara to drive financial inclusion within all sectors of our economy,” said Zamara Group Chief Executive Officer, Sundeep Raichura. “Fahari Ya Boda Boda allows you to save and build up a savings pot of money for your future financial needs. The accumulated savings are returned to you as…