Kenya’s Parliament is seeking to amend the Central Bank Act to allow the establishment of a Shariah-compliant monetary policy. The Central Bank (Amendment) Bill, 2023, proposes the institution of a CBK Advisory Council responsible for monetary decisions and regulation of Shariah banks, differentiating them from conventional banks. https://twitter.com/AmbokoJH/status/1683937005493710849?s=20 If Shariah-compliant monetary policy is adopted, CBK will supervise a system made up of both interest-based banking and interest-free systems. Regulation by the apex bank will also allow Islamic-affiliated banks and services to create an account with the CBK where their interest rates can be monitored just like those of other conventional…
Author: David Indeje
David Indeje
David Indeje is the Community Engagement Editor at Khusoko, East Africa’s leading digital business news platform. He shapes editorial content, drives audience engagement, and amplifies diverse voices. Beyond journalism, he consults on digital strategy across agriculture, governance, technology, and health, while examining AI’s role in the future of media. He also serves as Communications Officer at KICTANet, advancing digital inclusion and policy dialogue.
Equity Group considers diversity as a strategic imperative, providing a range of skills, knowledge, experience, and backgrounds that enrich the team. Equity is leveraging the power of diversity within its portfolio of countries and building diversity agendas, especially on gender, race, and languages, into its recruitment and development processes. Gender diversity is core to the Group’s Diversity, Equality, and Inclusion (DEI) approach. The Group tracks diversity in the workplace by collating data on gender and people with disabilities. This is according to its annual Sustainability Report for 2022, themed “Growing Together in Trust.” The report highlights Equity’s commitment to sustainable…
TikTok announced on Monday that it will offer text-only posts, its content creation options, enhancing user creativity and self-expression. Text posts represent the latest addition to TikTok’s suite of content creation tools. The Chinese-owned company said the new format will expand the “boundaries of content creation for everyone on TikTok” and tap into the “creativity”. TikTok Users can Now Include stickers to support specific causes, events, or holidays. Tag other accounts and add hashtags related to relevant topics or trends. Add various background colours to enhance the visual appeal of the post. Add sound, a vital element of the TikTok…
Uber, the popular ride-hailing company, has announced the rollout of its new in-app audio recording feature for users in Kenya. This feature will enable both drivers and riders to record audio during their trips and share it with Uber’s support team in case of any safety incidents. The in-app audio recording feature is a great step towards ensuring the safety and security of all Uber users. Imran Manji, Head of East Africa, Uber, explained that the feature will improve the conduct of users on the Uber app and provide better evidence for investigating safety incidents. “The safety of the users…
Twitter owner Elon Musk announced the social media network will rebrand as X, ditching the bird logo and expanding into payments, banking, and commerce. https://twitter.com/elonmusk/status/1682964919325724673?s=20 https://twitter.com/elonmusk/status/1683378289031761920?s=20 Powered by AI, X aims to connect users in new ways and create a global marketplace for ideas, goods, services, and opportunities. Twitter chief executive Linda Yaccarino said the social media platform is on the cusp of broadening its scope. https://twitter.com/lindayacc/status/1683353772917940225?s=20 “X is the future state of unlimited interactivity – centred in audio, video, messaging, payments/banking – creating a global marketplace for ideas, goods, services, and opportunities,” Yaccarino tweeted. “There’s absolutely no limit to…
Kenya’s ongoing anti-government demonstrations are causing the country to lose Ksh.2.86 billion per day, according to the Kenya Association of Manufacturers (KAM). KAM chair Rajan Shah stated that the protests have significantly impacted the manufacturing sector, resulting in severe financial losses for businesses. The manufacturing sector contributes about 1 trillion shillings to the Kenyan economy, which equates to approximately 2.86 billion shillings in daily value addition. “This translates to approximately 2.86 billion shillings daily in value addition. Therefore, the country stands to lose up to 2.86 billion shillings daily if the protests continue to disrupt businesses as we have witnessed…