Author: David Indeje

The Kenya National Assembly on Thursday has passed the Insurance (Amendment) Bill 2018 introducing penalties for insurance fraud. The Bill if assented into law, will ensure that insurance companies comply with the standards of the International Association of Insurance Supervisors (IAIS) on addressing insurance fraud. https://twitter.com/NAssemblyKE/status/1101092749594513408 The Bill was submitted to the National Assembly by Treasury’s Cabinet Secretary Henry Rotich in proposals made in the 2017/18 fiscal year budget. “The bill seeks to amend the Act by introducing a legal provision creating offences on insurance fraud, including penalties intended to address the problem of insurance fraud that continues to be…

Kenya’s overall inflation rate decreased to 4.14%, the lowest in six months as the prices of food commodities and transport eased, the statistics bureau said on Thursday. The Kenya National Bureau of Statistics (KNBS) said: “The cost of several foodstuffs in February 2019 was much lower compared to the same period of the previous year-These lower prices contributed to a relatively low overall inflation in February 2019.” For instance, maize grain recorded a drop of 41.0%  from Ksh.60.37 per kilogramme in February 2018 to Ksh.35.63 in February 2019. Similarly, the prices of sifted maize flour, spinach and tomatoes declined by…

Discrimination against sexual minorities in Kenya is costing it 1.7% of gross domestic product (GDP) per year, translating to over Ksh 100 billion, a report by Open For Business, an alliance of big companies including tech companies Google and Microsoft and Deutsche Bank. The report ‘The Economic Case for LGBT+ Inclusion in Kenya’ says this is as a result of poor health outcomes, reduced tourism and low productivity. “A focus on LGBT+ inclusion can help provide the infrastructure necessary for sustained economic growth,” reads the report. “LGBT+ inclusion can act as an enabler in achieving the economic transformation Kenya is…

Ria Ana Sejpal, founder and creative of Lilabare, a leading Kenyan designer bringing ethics into African fashion, says brands are integrating social and environmental themes into their products and services. “Our ethos is to produce clothing and jewelry that are sustainable in every aspect. Whether it’s rain-fed cotton that is bought at a fair price from local farmers, or upcycling post-production manufacturing waste, we consider the socio-economic and environmental impact of everything we make.” Ria shares with me how Lilbare has a clear stance on social issues by creating unique clothing and jewellery that benefit both the makers and the…

The Kenyan equities market closed negatively the week ending February 21 especially the NSE (Nairobi Securities Exchange) 20 share index driven by declines in large-cap stocks. “The main Kenyan indices closed their eighth session of the year in the red zone w/w on the back of increased trading across both the foreign and the local investors,” according to the Genghis Weekly Strategy. The NASI, NSE 25 and the NSE 20 share indices declined by 2.5%, 3.3% and 1.7%, respectively, during the week. The top traded counters in the week collectively accounted for 84.4% of the week’s total turnover. Foreign investors…

Lilabare a clothing and jewellery brand will join other ten women led brands from Nigeria and Ghana at the COTERIE, one of the United States’ top fashion trade shows. Taking place at the Javits Center, New York City, on 25-27 February, COTERIE provides an incredible opportunity for these talented brands to showcase their collections and connect with international buyers. All ten companies are part of SheTrades in the Commonwealth Programme, funded by the United Kingdom’s Department for International Development (DFID). https://www.instagram.com/p/BtVB0PQHsLo/?utm_source=ig_web_button_share_sheet Lilabare was created in 2017 with a vision to create a wardrobe that is sleek, comfortable and minimal. You should…