The Central Bank of Kenya (CBK) has announced four new members to its Monetary Policy Committee. They are: Dr. Benson Akong’o Ateng’, Dr. Margaret Kwengwa Chemengich, Prof. Jane Wanjiku Abubo-Mariara and Mr. Humphrey Mugambi Muga. “The new Members bring on board extensive experience in economic policy and banking sector matters, and will, therefore, enhance the MPC’s role in formulating monetary policy,” said the CBK in a statement. They were appointed on August 24, 2018. Dr. Benson Akong’o Ateng’ served in various roles at the World Bank, and is currently the Chairman of the Department of Economics and Development Studies at…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
The Capital Markets Authority (CMA) and the Kenya Bankers Association (KBA) have signed a Memorandum of Understanding (MOU) on research, data sharing and stakeholder engagement that will promote the financial sector. The two organizations have committed to champion industry development through advocacy and promoting investor education and Awareness. The low uptake of capital markets products and services will also be addressed through synergies designed to explore how the banking industry, being a major participant in the capital markets, can address both issuer and product dynamics, as well as, identify financing solutions for alternative infrastructure. The KBA Chief Executive, Dr. Habil Olaka…
Sue Petrie and Cristina Graham will lead British Airways’ commercial team in East Africa taking over from Kevin Leung, who has been moved to another role in the airline. Leung was the airline’s country manager for Ghana and Kenya since 2015. Sue Petrie is the regional commercial manager, trade – Southern and East Africa for British Airways and Iberia. She has over 30 years’ experience with British Airways and currently leads trade sales teams in South Africa, Mauritius, Angola and Seychelles. Cristina Graham is the regional commercial manager corporate – Southern and East Africa for British Airways and Iberia. She…
African digital music platform Mdundo celebrated its six years anniversary this month reflecting the milestones achieved. Mdundo’s CEO Martin Nielsen on his Linkedin page recalled that when they began on 24th September 2012, only nine people were visiting Mdundo.com. “Yesterday (Tuesday) alone we had 200,000 people from across Africa and the world using our music service! He added, “It has been an awesome and exciting journey and I have been lucky enough to have the most amazing team with me. I am very proud of the milestones we have reached, just to mention a few: (1) The coolest African library with…
Over the last few years, the demand for an easily accessible warehouse in Kenya has grown exponentially. This is being driven by the rise in demand for the storage of perishable foods, expansion of retail channels, and growing food safety concerns. The growth of online selling platforms such as Jumia, Kilimall International, Masoko, Aladin, Pigiame, Africa Sokoni among other has created the need for warehouses that are easily accessible to serve clients who expect a predictable, reliable delivery. Moreover, the new standard gauge railway which can handle more than 1200 feet counters per day has upsurged the warehousing needs. Warehouse…
Kenya’s foreign exchange reserves remain stable, the Monetary policy Committee said on Tuesday attributed to a continued narrowing in the current account deficit and balanced inflows. Data from the CBK shows that the current account deficit narrowed to 5.3 percent in the 12 months to July from 5.6 percent in June 2018. Read: MPC Rate Meeting: Analyst Views on What to Expect The regulator expects it to ease further to 5.4 percent by December 2018 “ with a strong performance of agricultural exports particularly tea and horticulture, resilient diaspora remittances and improves receipts from services particularly tourism.” In the first six…