Author: David Indeje

Kenya and Somalia have agreed to ‘reset’ their diplomatic ties that have been strained by committing to implement the 2015 Joint Commission for Cooperation (JCC). The latest development follows Tuesday talks between Kenya’s President Uhuru Kenyatta and Mohammed Hussein, the prime minister of Somalia held in Mombasa city. President Kenyatta said the Joint Commission for Cooperation defines the scope of the two countries’ collaboration in areas such as trade and investment, transport, defense and security. “Prosperity of our people is key. Let us open a new page for our people by encouraging people-to-people and interactions,” he said in a statement…

Chinese smartphone brand Xiaomi is the largest vendor of Android 5G smartphones with a market share of 25.7 percent in the second quarter of the year, a report showed on Tuesday. According to market researcher Strategy Analytics, its shipments surged 452 per cent on-year to 24.3 million units.  Vivo was the runner-up with an 18.5 per cent share followed by Oppo with a 17.9 per cent share. Samsung Electronics was ranked fourth with a market share of 16.5 per cent in the April-June period after shipping 15.6 million units of 5G smartphones powered by the Android operating system.  “Over the…

The Kenyan government has approved the Matatu sector’s proposal to allow public service vehicles to run with full seating capacity beginning Monday. Currently, a 14-seater matatu carries 10 passengers, up from eight while a 33-seater bus allows 18 passengers including the driver and crew in view of the outbreak of coronavirus.  On Friday, Transport Chief Administrative Secretary (CAS) Chris Obure said the matatu industry had agreed to self-regulate in Covid-19 compliance. “We need to build confidence that we can allow for full capacity while at the same time ensuring continued protection against the spread of rapidly mutating variants of Covid-19,’’…

Kenya’s Capital Markets Authority has barred Cytonn Asset Managers Ltd (CAML) from onboarding new investors until it changes the names of its business and its regulated products.  CMA says the move aims to ” to enhance investor protection and promote investor confidence in the integrity of capital markets”. The directive to CAML will be in effect for three months or until the fund manager complies. This is in line with the Capital Markets Act section 11 (1)(d) read together with section 11 (3)(cc) (ii), and 11 (3)(w). “The change of the name of the licensed fund manager and the regulated…

Kenya’s foreign exchange reserves rose $11 billion to touch a record high of $9,352 billion in the week ended Aug. 6, 2021, the Central Bank data showed Friday.  The forex reserves are now the equivalent of 5.72 months of import cover, hovering just above the EAC required minimum. The reserves had in the previous week declined by $30 billion to $9,341 billion from $9.37 billion the prior period. In July, according to market analysts, the shilling shed 70-cents of its value over the month on the back of rising dollar demand pressures. “FX reserves however ended the month higher at…

The number of people vaccinated against the COVID-19 virus in Kenya has reached more than 1,768,519, the Ministry of Health said on Friday. The number translates to 2.5 per cent of its population since the vaccination campaign began on 5th March 2021.  County vaccinations commenced on the 8th of March 2021. On the other hand, the second dose vaccination began on 28th May 2021. “As of August 5th, 2021, a total of 1,768,519 vaccines had been administered across the country with total first doses standing at 1,084,013 & 684,506-second doses had been administered.  The proportion of adults fully vaccinated in…