The Kenya Film Classification Board has banned viral song Takataka by upcoming rapper Alvindo. Ezekiel Mutua, the KFCB Board Chair said the song was not only degrading to women, but it could also be summed up as “trash”. “The KFCB has made a decision to restrict the song Takataka by Alvin aka Alvindo. The song produced by Fast Cash MusicKe is restricted due to its obscene and degrading lyrics that advocate for violence against women by equating them to trash,” a tweet from the KFCB boss said. https://twitter.com/EzekielMutua/status/1118087224443015168 Mutua further disclosed that the song had never been submitted to the…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
Changes in the application process for foreigners wishing to work in Kenya to have a work permit approved and issued before they can travel to take up their assignment in the country has had a negative impact on the real estate sector. This change in the law “Triggered a new uptick in international departures, which by the first quarter of 2019 had resulted in significant falls in the sales prices and rents of top-end detached houses, which fell by 4.4% and 4% respectively in the first 12 weeks of the year,” said Sakina Hassanali, Head of Development, Consulting and Research…
NIC Ventures, a subsidiary of NIC Group, in partnership with Masterpiece Fusion, launched a service ‘BeeDee’ for a convenient, quick and efficient self-service process to respond to the strong demand for trade finance. The new system involves a one-off registration besides eliminating the need for an individual to belong to a bank or a network to access bid bonds. It also curtails delays due to unprocessed payments. The service is available to both customers and non – customers seeking to quickly request for and receive bid bonds. “With this service, no one should be disqualified for delayed or late submission…
Fuel prices have been increased across major cities in Kenya according to the latest review by the Energy Regulatory Commission. The energy regulator announced on Sunday, Super Petrol, Diesel and Kerosene in Nairobi will increase by KSh5.25, KSh5.52 and KSh2.76 per litre respectively. The new prices will be in effect from April 15 to May 14, 2019. The ERC said the prices increase have been as a consequence of the average landed cost of imported Super Petrol increasing by 9.14% from US$568.55 per tonne in February 2019 to US$620.54 per tonne in March 2019. https://twitter.com/energy_ke/status/1117444225715593218 Kerosene also increased by 1.88%…
The Central Bank of Kenya accepted KSh 60.35 billion out of KSh85.62 billion from its 10- and 20-year Treasury bonds- (FXD 2/2019/10) and (FXD 1/2019/20). CBK rejected expensive bids. According to Cytonn Investments, the 10-year bond generated more interest, recording total bids of Kshs 70.9 billion out of the Kshs 85.6 billion as investors continued to avoid the longer-tenor bonds due to the relatively flat yield curve on the long-end brought about by the saturation of long-term bonds, coupled with the duration risk associated with long-term papers. Genghis Capital Analysts further state that, “The FXD 2/2019/10 presents a better risk-return…
Money Market Funds are growing faster than the overall market Money market unit trusts are gaining popularity in Kenya attributed to continuous efforts being made to stimulate and deepen the capital markets as a safe, secure and reliable haven for investments. “The performance by Unit Trust Funds had stagnated since 2016 but this has now improved, following the repeal of the rate cap, in September 2018, which has seen bank deposits rates drop making Money Market Funds more attractive to investors,” explains Elizabeth Nkukuu, Chief Investments Officer of Cytonn Investments Management Plc. “There is still more room for growth and…