Kenya received Ksh 38.5 billion in January as remittances with the United States being the biggest source, accounting for 63.6 per cent of these funds, according to the Central Bank data. The amount received represents a 21.7 per cent year over year growth in the diaspora remittances from Ksh.31.6 billion in January 2021 according to the CBK. However, the inflows were lower by 3.4 per cent compared to the USD 350.6 million in December 2021. The CBK said this was in line with seasonal factors in its Weekly Bulletin. In 2021, Kenyans abroad sent home Ksh 422 billion, an all-time…
Author: David Indeje
David Indeje
David Indeje is the community engagement editor at Khusoko, a leading digital platform for East African business news. He oversees editorial content, drives audience engagement, and amplifies diverse voices. Indeje also consults on digital strategy for brands in agriculture, governance, technology, and health, while exploring AI’s impact on journalism. In addition, he serves as a communications officer at KICTANet, advancing digital inclusion and policy dialogue.
Kenya’s National Treasury plans to raise Ksh 50 billion in March with the sale of reopened five-year (FXD1/2021/05), 15-year (FXD1/2020/15) and 25-year bonds (FXD1/2021/25) for budgetary support. The FXD1/2021/05 with 4.7 years maturity has a fixed interest rate or coupon of 11.277 per cent while FXD1/2020/15 with 12.9 years to redemption has a fixed rate of 12.756 per cent. The longest-dated FXD1/2021/25 with 24.2 years to maturity has a coupon of 13.924 per cent. Investors will need a minimum of KSh50,000 to bid for one of the bonds. The sale period closes on March 8. “The Central Bank will rediscount…
The National Payment’s vision will be anchored on five core principles: trust, security, usefulness, choice, and innovation.
Kenya leads the world in P2P cryptocurrency transactions, and ranks fifth overall in its adoption, a new report showed on Thursday. Mercy Corps Venture (MVC) and Celo Foundation report on the Kenyan Microwork Pilot findings show that the country is well-positioned to build on its reputation and leapfrog many of its peers through digital labour and cryptocurrency. The pilot demonstrates the potential of blockchain and cryptocurrencies to drive financial inclusion by creating new digital employment opportunities, reducing the cost of cross-border micropayments, and incentivizing saving among low-income youth. The pilot was completed over three months at the start of 2021…
Kenya is among six countries selected to receive the technology necessary to produce mRNA vaccines against COVID-19. Other countries are Egypt, Nigeria, Senegal, South Africa and Tunisia. This was announced Friday at the 6th African Union (AU) – European Union (EU) Summit in Brussels, Belgium. The six have been chosen to build vaccine production factories as part of a bid the World Health Organisation launched in 2021 to support manufacturers in low and middle-income countries to produce their own vaccines as part of the efforts to address vaccine inequity. “Today I’m delighted to announce the first six African countries that…
Kenya National Rally Championship winner Baldev Chager in his Kabras-sponsored Porsche 911 won the 10th edition of the East African Safari Classic Rally with a time difference of 07:43.9. “It was a matter of judging each day as you see it and clicking together as a team that pushed us to victory,” Baldev said on February 18, 2022. Victory donuts ??#EASCR Winners Baldev Chager & @DrewSturrock pic.twitter.com/8qEGwYUQ3o — Official Motor Sport World Ke (@MotorsportWKe) February 18, 2022 Charger was followed by Patrick Sandell while Ian Duncan was third. East African Safari Classic Rally Results 1 Baldev Chager(KEN) / Drew…