Author: David Indeje

Kenya’s Directorate of Criminal Investigations (DCI) Monday launched fresh investigations into the 2007/2008 post-election violence with 118 cases being registered. Out of the cases reported, 72 involve murder while 42 are on land displacement. “I do not want to regionalize cases by stating the regions from where those who have registered the cases come from…As DCI, we are welcoming all Kenyans afflicted by this problem,” said DCI boss George Kinoti when he addressed the 2007/2008 Post-election violence victims at DCI headquarters. “Criminal cases are never closed. Not all suspects were arrested and charged during that time. Our courts are very…

Kenya Airways said on Sunday it has started operating cargo flights to Maputo, Harare, Lilongwe, Lusaka and Dar-es-salaam from its Johannesburg hub. The airline started operating flights to Lusaka and Lilongwe. “We will be able to provide short connecting times to and from these locations. Previously, all traffic departing from Johannesburg had to pass through our Nairobi hub. With this new development, cargo from South Africa will nowfly directly to these markets,” said KQ, Kenya’s national carrier through its Twitter feed. Shakira Motan, Trade Commissioner, South African Consulate – Chicago, during an ‘AfCFTA Roundtable: Opportunities for Africans, Foreign Investors, and…

Kenya’s retail industry has witnessed a decline of 0.3% and 0.7% points in average rental yields and occupancy rates, respectively, coming in at 6.7% and 76.6%, respectively over the same period last year due to the impact of the Covid-19 pandemic, according to Cytonn Investment’s Retail Sector Report 2020. “The decline in performance is attributed to a 2.1% drop in rental rates, shifting towards e-commerce which has resulted to reduced demand of physical retail space, and, constrained spending power among consumers due to a tough financial environment attributable to the Coronavirus pandemic,” part of the report reads. The report themed…

The International Monetary Fund (IMF) is set to consider funding Kenya’s next COVID-19 response, a strong multi-year effort to stabilize and begin reducing debt levels. The disclosures were revealed by the IMF Staff led by Mary Goodman who conducted a virtual mission to Kenya from October 27 to November 17, 2020. According to the Mission, Kenya’s development goals have suffered a “significant setback”, and the country faces an arduous task of returning to a path of sustained and inclusive growth.  Kenya has been negotiating with the IMF on a 3½ year Extended Fund Facility (EFF)/Extended Credit Facility (ECF) arrangement. “Technical…

Kenya remains reluctant in accepting debt service relief under the G-20 Debt Service Suspension Initiative to assist in mitigating the impact of COVID-19. The National Treasury Cabinet Secretary Ukur Yatani Friday said Kenya “seeks a cautious approach” when he downplayed media reports that it had sought to defer $690 million (KSh75 billion) in debt payments under the G-20 debt relief initiative. “Kenya has not applied for the G-20 Debt Service Suspension,” said Yatani in a statement released Friday. “Some countries have faced challenges rearranging debt service with creditors with undesirable outcomes. In this respect, Kenya seeks a cautious approach in…

Sidian Bank says tender bidders can access up to Ksh 15 million bid bond in less than 5 minutes through its online platform to help boost its trade finance business. The Sidian Credible bid bond application platform provides verifiable bid bonds to small and medium enterprises (SME’s) targeting state tenders. The authenticity of the bid bonds generated is validated by a QR code embedded in the guarantee. In addition, the bid bonds are auto-signed by Authorized Signatories of the Bank. Sidian Credible is a self-service platform that responds to the lender’s customers’ needs for convenience, efficiency and quick turn-around time…