Author: Khusoko

End month government flows failed to materially ease liquidity strains in the interbank market.  As a result, the overnight cost of funds continued to nudge higher to 6.63% on Friday, up 13.40bps in the week. The dislocations reflect the lagged effects of the heavy funds outflow in September in government borrowing (IFB sale) as well as the tax remittances. Tax outflows may still be felt into this month. At the same time, government borrowing may still be another source of pressure. In addition to a generally lower liquidity quantum, distribution was also squeezed.  Despite the said pressure, the central bank…

Kenya’s Health Minister Mutahi Kagwe said the nationwide curfew came and containment measures have been extended for additional 30 days in an effort to curb the further spread of Covid-19. According to CS Kagwe, the 30-day extension will also ensure the Government achieves its targeted mass Covid-19 vaccination program across the country. The decision follows a meeting between the National Emergency Response Committee on Covid and President Uhuru Kenyatta. “This is for two reasons. Number one is that we are still as far as the positivity rate is concerned we are still above the WHO recommended figures in terms of…

Kenya’s Joyciline Jepkosgei won the women’s London Marathon Sunday in two hours, 17 minutes and 43 seconds. Jepkosgei, the reigning New York Marathon champion, triumphed her personal best of 2:18.40 on her debut at the London Marathon, becoming the seventh fastest woman in history. “To win a race like this is something special,” Jepkosgei said, after the race. “This is the greatest performance of my career. I dedicate this to my child and my coach.” In the men’s race, Sisay Lemma of Ethiopia won a time of 2:04.01. Kenya’s Vincent Kipchumba took second, and Ethiopia’s Mosinet Geremew finished third. Top…

At a time when the world has been shaken and businesses have been worst hit, it is now clear that future-proof establishments must adopt innovative practices to stay resilient.  Speaking during the World Trade Organization (WTO) Public Forum is driven by TradeMark East Africa, Bidco Africa’s Group Director – Chris Diaz emphasized the need for collective responsibility bringing together the public and private sector players to realize the alignment and seamless operations of trade through digital technologies.  “The East African region is an entrepreneurial hub and with the private sector’s contribution of more than 60% of the GDP, the economic…

Executive Vice Président Central & East Africa division of TotalEnergies Olivier Van Parys has been appointed as Director and Board Chair with effect from September 21. He replaces Mr Jean-Philippe Torres who resigned as director and Board Chair a position he held from September 2018. Mr Van Parys holds a Bachelor’s Degree in Civil Mechanical Engineering from the Catholic University of Louvain. He is also a holder of a specialised engineering graduate degree in Automotive  Engine Engineering from ENSPM (IFP School). “Mr Van Parys has worked for the TotalEnergies Company for the last 26 years and has progressively and diligently…

Safaricom’s latest sustainable business report indicates that the company created a total value of KES 664 billion for the Kenyan society in its last financial year, which is ten times greater than the profit made during the year. According to the report’s ‘True Earnings’ highlights, the firm contributed KES 557.1 billion to the economy in the 2020/2021 financial year, which is 5.2% of Kenya’s Gross Domestic Product (GDP). The independent analysis of Safaricom’s true value to society identifies the socio-economic and environmental impacts of the company and quantifies them in financial terms. “Our Sustainable Business report, which covers our last…