Author: David Indeje

Money management and budgeting are not a priority for Kenyan millennials who believe that ‘You Only Live Once’ (YOLO) according to the latest survey by Standard Chartered Bank. In the survey, 64% of millennials in Kenya reported an increase in their borrowing.  On the other hand,  88% of Kenyan millennials aged between 25-44 found it difficult in managing their finance since the first  COVID-19 was reported in Kenya compared to 64% globally. StanChart Head of Retail Banking, Edith Chumba,  disclosed that despite the hardships being faced, they are more focused on achieving their long term goals. “33% of millennials in…

The Directorate of Criminal Investigations (DCI) Tuesday says it will focus on “recently” received complaints in relation to the 2007/2008 Post Election Violence. In a statement, DCI boss George Kinoti said his office will not reopen PEV cases that were investigated and concluded. “If we find that a particular case was determined by the courts, we do not reopen such a case. This is because nobody can be subjected to double jeopardy as defined in our country’s Constitution,”  said Kinoti. On Monday, Kinoti disclosed that 118 cases have been registered. Out of the cases reported, 72 involve murder while 42…

Kenya’s Directorate of Criminal Investigations (DCI) Monday launched fresh investigations into the 2007/2008 post-election violence with 118 cases being registered. Out of the cases reported, 72 involve murder while 42 are on land displacement. “I do not want to regionalize cases by stating the regions from where those who have registered the cases come from…As DCI, we are welcoming all Kenyans afflicted by this problem,” said DCI boss George Kinoti when he addressed the 2007/2008 Post-election violence victims at DCI headquarters. “Criminal cases are never closed. Not all suspects were arrested and charged during that time. Our courts are very…

Kenya Airways said on Sunday it has started operating cargo flights to Maputo, Harare, Lilongwe, Lusaka and Dar-es-salaam from its Johannesburg hub. The airline started operating flights to Lusaka and Lilongwe. “We will be able to provide short connecting times to and from these locations. Previously, all traffic departing from Johannesburg had to pass through our Nairobi hub. With this new development, cargo from South Africa will nowfly directly to these markets,” said KQ, Kenya’s national carrier through its Twitter feed. Shakira Motan, Trade Commissioner, South African Consulate – Chicago, during an ‘AfCFTA Roundtable: Opportunities for Africans, Foreign Investors, and…

Kenya’s retail industry has witnessed a decline of 0.3% and 0.7% points in average rental yields and occupancy rates, respectively, coming in at 6.7% and 76.6%, respectively over the same period last year due to the impact of the Covid-19 pandemic, according to Cytonn Investment’s Retail Sector Report 2020. “The decline in performance is attributed to a 2.1% drop in rental rates, shifting towards e-commerce which has resulted to reduced demand of physical retail space, and, constrained spending power among consumers due to a tough financial environment attributable to the Coronavirus pandemic,” part of the report reads. The report themed…

The International Monetary Fund (IMF) is set to consider funding Kenya’s next COVID-19 response, a strong multi-year effort to stabilize and begin reducing debt levels. The disclosures were revealed by the IMF Staff led by Mary Goodman who conducted a virtual mission to Kenya from October 27 to November 17, 2020. According to the Mission, Kenya’s development goals have suffered a “significant setback”, and the country faces an arduous task of returning to a path of sustained and inclusive growth.  Kenya has been negotiating with the IMF on a 3½ year Extended Fund Facility (EFF)/Extended Credit Facility (ECF) arrangement. “Technical…