The Central Bank of Kenya (CBK) is forecast to cut interest rates when its Monetary Policy Committee meeting to make a decision on the direction of the Central Bank Rate (CBR) on July 24, 2019. Commercial Bank of Africa analysts say the tame inflationary pressures coupled with the output gap should limit any scope for monetary tightening. “On the other hand, prospects of easing may be dented by prospects of pervasive outcome where easing causes markets to instead tighten. Therefore, the CBK may keep the CBR on hold unless parliament approves the reversal of the interest rates cap, restoring efficacy…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
Governors have accused Kenya’s National Treasury and the National Assembly of holding counties hostage when they filed a petition at the Supreme Court to seek interpretation on the Division of Revenue Bill 2019. CoG chair Wycliffe Oparanya said that the county governments have witnessed an onslaught on devolution saying that it was being undermined through formulation and enactment of centralist policy and laws. “In this second term, devolved governance is being attacked by denying county government their resources. The National Treasury continues to hold counties hostage by always deviating from the Commission of Revenue Allocations recommendation by constantly denying disbursement…
The Kenya Tourism Board (KTB) boosted the country’s tourism sector during the UK premiere of ‘The Lion King’ in Leicester Square on Sunday. At the red carpet, Magical Kenya’s brand logo was displayed where A-listers from across the globe flocked and posed for photos. “Kenya’s magic is in the air at the London premiere of #TheLionKing,” Tweeted KTB on its official account. “#TheLionking movie was largely inspired by the diverse landscapes and abundance of wildlife in #MagicaKenya’s National parks and Reserves. This Affirms Kenya as the undisputed home of safari and Adventure.” https://twitter.com/magicalkenya/status/1150483182556450818 Among the many stars in attendance were…
Business coach and trainer, TriciaBiz has launched an online business school, Business Lab Africa with the aim of helping entrepreneurs in Africa succeed in business. The school, which offers a new approach to learning, is subscription-based and is geared towards providing quality content at a price MSMEs can afford. According to its management, not only is BLA easily accessible via mobile or web, it also offers knowledge that is practical, qualitative and locally relevant. Courses on the BLA curriculum, are taught by business experts from around the world covering a wide range of business subject areas including Marketing, Sales, Global…
In the latest review by Energy and Petroleum Regulatory Authority (EPRA), prices of diesel and kerosene declined marginally by KSh.088 and KSh2.31 per litre. However, the petrol price increased by KSh0.29. This means consumers in Nairobi will pay KSh103.88, KSh101.97 and Ksh 115.39 per litre for diesel, kerosene, and petrol respectively which will be in force from 15th July to 14th August 2019. The changes are attributed t average landed cost of imported super petrol decreasing by 1.83% from $538.08 per cubic metre in may to $528.26 in June. Diesel decreased by 3. 07% to $519.39 from $535.84 while kerosene…
Online sports betting companies in Kenya are crying foul after their customers were denied access to place their bets following the suspension of paybill numbers. This was after Kenya’s Betting Control and Licensing Board ordered the withdrawal of betting codes for 27 gambling companies whose licenses had not been renewed. “The licenses of operators were not renewed for the period July 1, 2019, to June 30, 2020,” stated the Betting Control and Licensing Board. “This is to request you, as the communications sector regulator, to duly withdraw the content service provider licences issued to the firms.” Those who tried to…