Author: Khusoko

Studio Warner Bros. has released the official trailer for the new Tom & Jerry movie, a blend of live-action and animation. The film is scheduled for release on March 5, 2021. It stars Chloe Grace Moretz, Michael Pena, Rob Delaney, Colin Jost, and Ken Jeong. From the trailer, Jerry lands up in a hotel in New York which is going to host the “wedding of the century.”  The hotel’s new hire wants to get rid of the mouse problem and gets a cat, which happens to be Tom. The film is directed by Tim Story (director of 2005’s Fantastic Four, Think…

Standard Chartered Bank reported a 30.4 percent dip in profit to Ksh 4.3 billion for the nine months to September 2020 due to loan default losses in the wake of Covid-19 pandemic. The lender’s loan loss provision surged  3.7 times to KSh2.7 billion in response to gross defaults rising 10.2 percent to KSh21.9 billion. However, investment in government and other securities grew 6.9 percent y/y (1.1% q/q) with the bank maintaining a very liquid balance sheet (65.7%). “The NPL ratio still stands above the sector average of 13.1 percent and has remained elevated for the past 4 years. With the…

The Capital Markets Authority (CMA) confirmed Mr. Wycliffe Shamiah as its chief executive officer, replacing Mr. Paul Muthaura. He was serving as the acting chief executive since the year began. “I would congratulate Shamiah on his appointment, having served in the Authority for over the last 23 years and emerging as the successful candidate for the position,” said the chairman of the Board, James Ndegwa in a statement. Shamiah will be tasked with implementing the Strategic Plan 2018-2023, supporting regulations, and maintaining CMA’s reputation as a high performing public sector institution. Under his leadership, the authority has piloted the Securities…

  Absa Bank’s profit after tax for the first nine months of 2020 declined by 51 percent to KSh3 billion compared to the same time last year excluding KSh1.9 billion to the lenders’ transition from Barclays. Absa attributed the decline in performance to increased provision for bad debts which surged by 147 percent to KSh7.6 billion to cushion for defaults from the effects of the Covid-19 pandemic. “Performance was significantly impacted by 147 percent growth in impairment as customers struggled to keep up with loan repayments due to the economic effects of the Covid-19 pandemic, and a decisive action by…

2020 continues to be a challenging year for governments particularly those in developing markets.  While their fiscal stimulus has been comparably lower to those in the developed world, these governments are facing a much higher debt burden in light of a sharp reduction in revenues. According to the IMF, ‘about half of the low-income countries and several emerging market economies were already in or at highPublic Debt risk of a debt crisis, and the further rise in debt is alarming’.  Zambia is a good example of one of these countries having just last week defaulted on its foreign debt after…

I am delighted to join you for this important Conference, and I express my profound gratitude to the Institute of Chartered Accountants of Barbados (ICAB) for the invite.  I want to believe that I have a strong connection to Barbados and indeed the Caribbean people, built over the years. I have fond memories of my visit to Barbados in September last year, and the warm hospitality from my brother Governor Cleviston Haynes of the Central Bank of Barbados.  But I believe we are just beginning a beautiful friendship—in the words of Prime Minister Mia Motley at Kenya’s 56th Jamhuri Day…