Author: David Indeje

Nairobi, Kenya’s capital improved 47 places to become the world’s 145th most expensive city in 2021, according to a Mercer Cost of Living report. This is the first drop in three years. This was the best position in seven years for Nairobi, which had last year ranked 95 out of the 209 cities surveyed. “The latest data show few significant price variances resulting from the pandemic as various measures were adopted by governments worldwide, such as lowering or refraining from collecting VAT for a period of time,” said the report. https://khusoko.com/2021/04/20/kenyas-capital-nairobi-ranks-high-for-innovation-in-africa/ Mercer’s ranking is based on changes of more than…

Five Kenyan coffee brokers have been licenced by the Capital Markets Authority to trade coffee at the Nairobi Coffee Exchange (NCE) with effect from 1 July 2021. The five are: Meru County Coffee Marketing Agency Limited has been granted a full coffee broker license while other applicants; Kipkelion Brokerage Company Limited, Murang’a County Coffee Dealers Company, Mt. Elgon Coffee Marketing Agency Limited and United Eastern Kenya Coffee Marketing Company Limited have been granted conditional licences, with the requirement to comply with the Coffee Exchange Regulations within the next three months. The Nairobi Coffee Exchange is mandated to manage the coffee…

NCBA Bank Managing Director John Gachora and Family Bank Chief Executive Officer Rebecca Mbithi were elected Chairperson and Vice-Chairperson of the Kenya Bankers Association (KBA) for the period 2021 to 2022. Mr Gachora, who previously served as Vice-Chairperson, takes over from Mr Joshua Oigara, who chaired the KBA Governing Council for the past three years. KBA Chief Executive Officer Dr. Habil Olaka welcomed the new leadership and thanked Mr. Oigara for his service over the years. Dr. Olaka also welcomed Caritas Microfinance Bank, which joined the Association in 2020. “We are confident the bank will contribute to our long-term vision…

Africa-focused renewable energy finance platform, Nithio FI has secured $4.5 million in funding to offer sustainable and renewable off-grid energy solutions for homes and small businesses in Kenya, Nigeria, and Uganda. Led by FSD Africa Investments (FSDAi), the investment tier of FSD Africa, a financial sector development and catalyst programme based in Nairobi and funded by the UK Aid. The funding complements Nithio FI’s total raise of $23 million, will support access to renewable energy for households, smallholder farmers and micro-entrepreneurs who otherwise will not be able to meet the costs. It wants to do the same for energy providers…

Kenya will receive emergency aid totalling USD 410 million to support its program to address debt vulnerabilities, the International Monetary Fund (IMF) said on Wednesday. It will also help respond to the COVID-19 crisis and enhance governance. The disbursement is part of the 38-month Extended Arrangement under the Extended Fund Facility (EFF) and the 38-month arrangement under Extended Credit Facility (ECF) for Kenya. Kenya has now received US$ 714.5 million under the facility approved in April 2020. “The Kenyan authorities continue to demonstrate a strong commitment to their fiscal reform agenda during this unprecedented global shock. Performance under the EFF/ECF…

The Kenya National Biosafety Authority (NBA) has approved the environmental release of genetically modified (GM) cassava in the country. The event 4046, resistant to cassava brown streak disease (CBSD), was developed by the Kenya Agricultural and Livestock Research Organization (KALRO). The approval paves the way for conducting national performance trials of these varieties before registration and release to farmers.  “Full approval will be considered by the Board after the NPTs have been finalized. This approval is valid for a period of five (5) years from the date of authorization,” Prof Doringtom Ogoyi, CEO of Kenya National Biosafety Authority, said in…