Author: David Indeje

Regional retailer Tuskys Supermarket has agreed to pay KSh2.4 billion equivalent to 40 percent of the amount owed to its suppliers over a period of two years. The retailer owes the suppliers KSh6.2 billion. “Total trade supplier debt is KSh6.2 billion. As at August 6, 2020, 40 percent of this supplier debt has been rescheduled and the respective suppliers have signed individual agreements to reschedule the debt to periods between eight months and 24 months,” Tuskys in a letter to the Competition Authority on August 7, 2020. “Having these debts rescheduled and restructured allows Tuskys time to reorganise cash flows…

The Kenyan government has lifted its ban on the importation of second-hand clothes and shoes with the publication of new safety protocols. Kenya National Bureau of Standards (KNBS) and the Ministry of Trade published the new guidelines which require all cargo subjected to physical examination and certification under the Pre-export Verification of Conformity to Standards (PVoC) requirements. “The guidelines provide a framework for enforcing additional safety measures such as cleaning and fumigation of used textiles and shoes at the country of origin before baling, and at the wholesale or retail stores including surrounding areas every day at the closure of…

Kenya’s foreign exchange reserves dropped $9,249 billion in the week ended August 14, down by $41 billion from the previous week, according to theCentral Bank data. The CBK indicated that its usable foreign exchange reserves remained adequate at USD 9,249 million (5.6 months of import cover) as at August 13.  “This meets the CBK’s statutory requirement to endeavor to maintain at least 4 months of import cover, and the EAC region’s convergence criteria of 4.5 months of import cover.” The forex reserves have continued to decline since July 9 when the when Kenya started phased reopening of the economy. In…

Petrol price on Friday was hiked by Ksh 3.47 per litre and diesel by Ksh 2.76 and paraffin by Ksh 18.20 attributed to an increase in the price of fuel imports in July by the Energy and Petroleum Regulatory Authority (EPRA). In Nairobi, a litre of Super Petrol, Diesel and Kerosene will now retail at Ksh 103.95, Ksh 94.63 and Ksh 83.65 respectively. In Mombasa, a litre of petrol will retail at Ksh 101.57, diesel Ksh 92.26 and kerosene at Ksh 81.29. In Kisumu, a litre of Super Petrol, Diesel and Kerosene will sell at Ksh 104.62, Ksh 95.49 and…

Business enterprises in Kenya need to shoulder the responsibility of protecting human rights and not to be viewed as an additional burden to them. Speaking at the Bloggers Association of Kenya (BAKE) webinar on Business and Human rights, Mercy Mutemi, a digital rights lawyer of MS law said on a day to day basis, businesses interact with individuals and “Beyond providing a service, businesses have an obligation to advance human rights.” “Businesses should start rethinking about human rights. It is not about corporate social responsibility,” she empasised adding that, “It is a fact, business needs come first, then human rights,…

Rwandan passports will expire June 28, 2021 according to the Directorate of Immigration and Emigration following  adoption of the East African e-passport in June last year. All passports issued before June 27, 2019, will be phased out, and replaced by the Rwanda East African electronic passport. https://twitter.com/Rwandamigration/status/1293840701357199366?s=20 The East African Passport, is an initiative by the East Africa Community signed at the EAC Heads of State summit in December 2016. Among the member states, Kenya was the first country to roll out the new passport in September 2017. Currently, it has extended the deadline to travel on the new second-generation…