Author: David Indeje

The Central Bank of Kenya’s Monetary Policy Committee (MPC) on Monday retained the policy rate at 8.75 per cent to ensure inflation remains within the target while supporting growth. “The (Monetary Policy) Committee noted that the impact of the further tightening of monetary policy in November 2022 to anchor inflationary pressures were still transitioning in the economy,” the CBK said in a statement. “Additionally, the MPC noted that this action will be complemented by the recently announced government measures to allow limited duty-free imports on specific food items, which are expected to moderate prices and further ease domestic inflationary pressures.”…

In Kenya, the adoption of digital technologies has seen an increase in cybersecurity threats and risks. This has been primarily due to the rapid adoption of digital systems, remote working without adequate attention being paid to the security of computer systems and devices, and increasing awareness of people on the appropriate measures to protect themselves online from cyber threats and risks. Data from the National Kenya Computer Incident Response Team found that between July – September 2021, it detected 143,040,599 cyber threat events, a 268.883% increase from the 38,776,699 threat events detected in the previous period, April – June 2021.…

The Central Bank of Kenya (CBK) has approved 12 more digital credit providers (DCP), bringing the total number of licensed digital lenders to 22. The CBK said it had received 381 applications since March 2022. “Other applicants are at different stages in the process, largely awaiting the submission of requisite documentation. We urge these applicants to submit the pending documentation expeditiously to enable completion of the review of their applications,” said CBK. Those approved include Tala, Inventure Mobile Limited (Trading as Tala), Letshego Kenya Ltd, MFS Technologies Limited, Letshego Kenya Ltd, Natal Tech Company Limited, Ngao Credit Limited, and Pezesha…

The Media Council of Kenya (MCK) has introduced QR codes to ensure compliance and ethical and professional standards amongst journalists and media enterprises. Under this, journalists and media practitioners operating in Kenya will be allowed to use press cards with barcodes and QR codes to know whether those accredited are authentic. As a result, on Friday, the Council recalled all accreditation cards it had previously issued to journalists. https://twitter.com/MediaCouncilK/status/1618862954522501121?s=20&t=oPez1n9eP_l1DN1JYJMp8A “Following increased incidences of misrepresentation by persons bearing Media Council of Kenya (MCK) accreditation cards and reported cases of forgeries of the cards, effective today, 27 January 2023, all Media Council…

Nearly all the electricity users across categories in Kenya will be paying more for every unit of electricity they consume if new proposals from the utility company are passed. Kenya Power has requested the Energy and Petroleum Regulatory Authority (EPRA) to approve their proposed tariffs to make domestic consumers pay KSh14 per kWh for up to 30 kilowatts of power. At the same time, those exceeding 30kWh per month expected KSh21.68/kWh, a figure set to drop to KSh20.61 in July 2024. “The rationale of this Retail Tariff Review is to incorporate change in Electricity Sub-sector cost structure and update key…

Kenya Railways will phase out cash payments for tickets starting February 1. “We wish to notify our customers and general public that effective February 1 2023, we will no longer be accepting cash for purchase of tickets at all Madaraka Express Passenger Service Stations,” reads the notice. https://twitter.com/KenyaRailways_/status/1617935041975418881?s=20&t=cKS8Jr1HGDbDqPXjy38LzQ According to a 2022 Visa survey, an estimated (71%) of businesses in Kenya use cash as a means of payment, compared to the higher use of cash by companies in South Africa (91%) and Nigeria (94%). In addition, the less use of cash among Kenyan businesses is reflected in the high preference…