Author: David Indeje

Kenya’s foreign exchange reserves fell by $7.95 billion to $7.85 billion in the week to December 11, mainly on account of a depreciating currency, Central Bank data showed on Saturday. CBK Weekly Bulletin data showed that the shilling weakened against major international and regional currencies during the week.  Against the dollar, the shilling fell to an average of KSh111.29, down from KSh110.17 in the previous week. As a result, during the week, the central bank mopped up Ksh 39.0 billion in excess liquidity, albeit lower than the targeted Ksh 75 billion. “Liquidity conditions are expected to remain thin, potentially sustaining…

Fuel prices are set to rise sharply December after staying stable for a month as international rates have jumped and the Kenyan shilling weakened. According to the latest review from the Energy and Petroleum Regulatory Authority (EPRA), Super Petrol, Diesel and Kerosene prices increase by Ksh0.97, KSh1.12 and KSh1.93 per litre respectively. As a result, Super Petrol, Diesel and Kerosene will retail at Ksh106.82, Ksh91.82 and Ksh83.56 respectively in Nairobi between December 15, 2020 and January 14, 2021. “The changes in this month’s prices are as a consequence of the average landed cost of imported Super Petrol increasing by 0.65%…

The Kenyan government has granted citizenship to nearly 1,700 people of Shona origin. The Shona people settled in the country from Zimbabwe in the 1930s as missionaries. They carried British passports and were registered as British subjects. However, after independence in 1963, they had a two-year window to register as Kenyans, which many missed. UNHCR, the UN Refugee Agency in a statement said it welcomed Kenya’s decision to grant citizenship to 1,670 stateless Shona and 1,300 stateless persons of Rwandan descent who qualify under the law as Kenyan citizens. “This is a life-changing development for thousands of people,” said Fathiaa…

Google services including Gmail, YouTube, and Google Docs Monday faced a global outage with most services remaining inaccessible. Reports of the outage was around 6:30 a.m. Eastern time, according to DownDetector. “Google Docs encountered an error. Please try reloading this page, or coming back to it in a few minutes. To learn more about the Google Docs editors, please visit our help centre. We’re sorry for the inconvenience.- The Google Docs Team.” https://twitter.com/Deeno1318/status/1338452408586801152?s=20 Later, Google restored the services with an apology to its users.

TechnoServe, a nonprofit focused on eliminating global poverty through business solutions and utilizing technology in innovative ways, said digital technology will help it reach more micro-retailer in Africa, but additional support is needed.   Alice Waweru, Entrepreneurship Portfolio Lead, at TechnoServe says the micro-retail sector is 80% informal and 14,972 out of 35,773 digitally trained, have witnessed 28% average revenue increase between 2015 and 2020. During the five year period, Waweru says through their donors, the value of pans accessed through 4G Capital hit $ 1.405,306. 4G Capital and Citi have collaborated to expand financial inclusion through the provision of working…

Kenyan Premier League club AFC Leopards defeated Sofapaka with a goal margin of 3-0 in the FKF-Premier League match played at Kasarani Stadium Saturday. Leopards are now at the top of the table thanks to Elvis Rupia who scored 3 goals taking his tally to six from three matches. https://twitter.com/AFCLeopards/status/1337778158750330883?s=20 League champions, Gor Mahia defeated Ulinzi Stars 1-0 at Nyayo National Stadium with a goal from Jules Ulimwengu.  Tusker FC was triumphant at Moi Stadium, Kisumu. The brewers registered their first win of the season defeating Western Stima 5-2 at Moi Stadium.   FKF Premier League FT: AFC Leopards 3-0 Sofapaka…