Author: David Indeje

The Central Bank has floated 15-year and 20-year Treasury Bonds worth KSh 50 Billion to finance its development projects. The bonds would be auctioned on Wednesday, 16th September 2020. CBK says the Bonds may be re-opened at a future date.  Secondary trading of these instruments, in multiples of KSh 50,000.00, will commence on Tuesday, 22nd September 2020. “We anticipate secondary market activity to be crowded at the short-end of the curve,” according to Genghis Capital. On the other hand, NCBA Research Analysts state that the yield curve could be more sticky as liquidity conditions normalize. For instance, the week ending…

Kenyans in diaspora sent home $277 million (KSh29.9 billion) in July, however, this was a Ksh 1.2 billion decline. In June they sent $288.5 million (KSh31.2 billion). “Remittance inflows remained strong in July 2020 amounting to $277 million compared to $225 million in July 2019 and $288.5 million in June 2020, in line with seasonal factors,” Central Bank of Kenya said in its Weekly Bulletin. Cumulative inflows in the 12 months to July totalled to $2.862 billion (KSh309 billion) compared to $2.778 billion (KSh300 billion) in the 12 months to July 2019, representing a three percent increase. During the period,…

Kenya’s unemployment rate hit 10.4 percent in the second quarter from 4.90 percent recorded previously, according to the statistics agency. According to the quarter two Labour Force Report by the Kenya National Bureau of Statistics (KNBS), the number of those unemployed increased to 4,637,164 between April and June compared to 2,329,176 in the same period last year. The figures are evidence of the damage the coronavirus has done to the fragile economy. The government’s report Tuesday, on the effects of COVID-19 on interactions between social and economic factors conducted between 30th May and 6th June 2020: “The proportion of individuals…

Kenyan Government is being told to reject proposals being made by the U.S. to expand the plastics industry footprint across Africa. “Africa is at the forefront of the war on plastics, with 34 out of 54 countries having adopted some regulation to phase out single-use plastic,” said Fredrick Njehu, Greenpeace Africa Senior Political Advisor.  “The Kenyan government should not backslide on the progress made in its plastic-free ambitions by folding to pressure from fossil fuel giants, because it stands to derail the progress made across the entire continent.”  According to documents obtained by Greenpeace, the American Chemistry Council has lobbied…

Kenya’s inflation remained unchanged at 4.36 percent in August similar to July on decreasing food prices, according to government data released on Monday. The Kenya National Bureau of Statistics (KNBS) said the decline in food costs offset increases during the month. “The price of onions, tomatoes, and spinach registered decreases of 16.38 percent, 12.05 and 7.51 percent respectively in August in comparison to July 2020,” the statistics office said in a statement on Monday. The transport index increased by 2.11 percent due to an increase in the pump prices of diesel and petrol by 2.97 percent and 3.41 percent respectively.…

Kenya Electricity Generating Company  (KenGen) has extended Rebecca Miano’s term as Managing Director by another three years. In a statement, Board chairman Joshua Choge says “During Mrs. Miano’s three-year tenure, the company has continued on an upward growth trajectory, consistently reporting good corporate financial performance despite a difficult operating environment that has affected many other businesses globally,” he said. Miano had taken over as CEO of the listed power generator in November 2017 replacing  Albert Mugo who retired on Friday 25th August 2017. Miano became the first woman to hold the position since the company was established on 1 February…