Author: Muindi

The International Monetary Fund (IMF) is keeping a close watch on the court case concerning the suspended Finance Act 2023 in Kenya. The IMF executive board had approved it stating it was “crucial to support ongoing consolidation efforts to reduce debt vulnerabilities.” “Depending on what comes out from the courts against the Finance Act, we will regroup with the authority to look at the contingency plans in place, our discussions will depend on parts of the act the High Court will do away, or if it blocks completely implementation of the law,” said IMF Mission Chief for Kenya, Haimanot Teferra.…

The International Monetary Fund (IMF) Executive Board completed its fifth review of the 38-month Extended Fund Facility (EFF) and Extended Credit Facility (ECF) financing for Kenya The review allows for an immediate disbursement of US$415.4 million. This includes US$110.3 million from an augmentation of access. The Board also approved a 20-month arrangement under the Resilience and Sustainability Facility (RSF) for US$551.4 million to support Kenya’s efforts to build resilience to climate change and catalyze private climate financing. “The approval of the FY2023/24 Budget and 2023 Finance Act are crucial steps to support ongoing consolidation efforts to reduce debt vulnerabilities while…

The second day of the Kenya-DRC Investors Roadshow, hosted by Equity Group, saw the signing of a Memorandum of Understanding (MoU) between Equity Group and Schneider Electric at the EquityBCDC head office in Kinshasa, DRC. The partnership aims to promote access to affordable energy solutions to enhance the quality of life for consumers in the DRC. Additionally, Equity BCDC and Schneider will collaborate on the opening of 10 DRC nationwide training centres to offer young people training in skills related to clean energy deployment. Kenya’s Ambassador to DRC, Amb. George Masafu, and IFC Country Manager for the Democratic Republic of…

Chief Justice Martha Koome has appointed a three-judge bench to hear the petition challenging the Finance Act 2023. High Court Judge David Majanja will preside over the bench, which includes Justice Lawrence Mogambi and Justice Christine Meoli. https://twitter.com/Kenyajudiciary/status/1681306459567693824?s=20 The Finance Act 2023 was suspended by Justice Mugure Thande who directed that the file be placed before the CJ for directions. The implementation of the Finance Act 2023 was challenged by Busia Senator Okiya Omtatah, Eliud Matindi, Michael Otieno and four others, who claimed that the Finance Act 2023 was unconstitutional. The state, represented by the Attorney General’s lawyers, had requested…

Morocco and Zambia will debut at the 2023 FIFA Women’s World Cup.  They will join Nigeria, Ghana, Cameroon, Ivory Coast, Equatorial Guinea, and South Africa. Morocco and Zambia, with Nigeria and South Africa, qualified for the FIFA Women’s World Cup by reaching the last four of the 2022 Women’s Africa Cup of Nations. Women’s World Cup Groups and Teams Group A: Norway, Switzerland, New Zealand, Philippines Group B: Canada, Australia, Nigeria, Ireland  Group C: Spain, Japan, Costa Rica, Zambia Group D: England, Denmark, China, Haiti Group E: U.S., Netherlands, Portugal, Vietnam Group F: France, Brazil, Panama, Jamaica  Group G: Sweden,…

The Sahara Group Foundation has announced twenty (20) social innovators from across Africa to be part of its 2023 Sahara Impact Fund Fellowship programme. The Foundation is partnering with LEAP Africa, a youth-focused leadership development nonprofit organization, and Impact Amplifier, a South African-based advisory firm, to deliver the program. The program aims to empower visionary African changemakers with the knowledge and resources required to expand their social enterprises and help address the environmental and social challenges affecting our society. With a focus on increasing access to energy and promoting sustainable environments, the Sahara Impact Fund program attracted over three hundred…