Author: Khusoko

  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…

Technology is getting us through the pandemic, and technology can also drive our continent’s recovery in the post-pandemic era, writes Chen Lei, President of Huawei Southern Africa. For most of us, 2020 has been a year of almost dramatic, almost traumatic change. As individuals, our lives have been transformed; as businesses, ur operating models have been revolutionised; and as a society, we have been shaken to the core.  Fortunately, many of the technologies that have helped us through the worst of the pandemic and the lockdown, hold the key to success and prosperity in the post-lockdown era. The new ways…

JOHANNESBURG – There are significant business opportunities in the mobile broadband space in building an ecosystem of affordable mobile devices to support user migration to 4G and 5G cellular network technology. This was the message emerging from the 5th Huawei Africa Mobile Broadband Salon taking place at the online Africacom Africa Tech Festival from 9-12 November. Delegates heard that the ICT industry had never been more important to society and that it was now at the forefront of social development and restoring economies affected by the Covid-19 pandemic. “Connectivity is the foundation for digital transformation,” said Salon facilitator Mohamed Madkour,…

Immaculate Kassait has been sworn-in as Data Commissioner tasked with implementing The Data Protection Act. Kassait becomes Kenya’s first holder of the position with her main role being exercising oversight on data processing operations, promoting self-regulation among data controllers, promoting international cooperation in data protection-related issues, and conducting research on data processing development. The ceremony that was held Monday was presided over by Court of Appeal Registrar Moses Serem. She will serve for a single term of six (6) years and shall not be eligible for a re-appointment. The Office of the Data Protection Commissioner is an office established by…