Author: Khusoko

Nigeria’s Fatu Ogwuche has joined Facebook London to serve as politics, government outreach manager for Africa. She will be in charge of 48 countries. “Grateful that I get to do the work of my soul, that I get to work with badass folks who are aligned with their purpose. So, as I begin this new adventure with Facebook, I am reminded that I’m surrounded by so much love, great friends, beauty, joy in abundance, and I’m totally totally surrendering to the future,” she says. https://twitter.com/fatuogwuche/status/1069533607792922624 According to her Linkedin page, Fatu is an elections and technology consultant and a Mandela…

Kenyan listed banks recorded a 16.2% average increase in Core Earnings Per Share (EPS), compared to a decline of 9.3% in Q3’2017. According to Cytonn Investments November 2018 highlights, all the banks recorded positive growth except for NIC Group and HF group that recorded declines in core EPS. “NIC recorded a decline of 3.3%, and HF recording a decline to a loss per share of Kshs 0.9 from core earnings per share of Kshs 0.5 in Q3’2017. National Bank recorded the highest growth of 303.2% y/y,” Cytonn Notes. The Central Bank of Kenya during its MPC meeting in November reiterated…

Kenya’s core inflation edged higher in November to 5.8% from October’s 5.5% due to an increase in the pump prices of petrol and public transport fares, data showed on Friday. The Kenya National Bureau of Statistics said on a monthly basis, the consumer price index decreased by 0.18% from 192.60 in October 2018 to 192.25 in November 2018. The year on year food inflation in November 2018 was 1.72%. KNBS further said housing, water, electricity, gas, and other fuels’ Index, decreased by 1.24% in November 2018 compared to October 2018. “The drop was mainly due to lower costs in prices…

Housing Finance Group Plc on Friday issued profit warning that their earnings will be lower for FY 2018 compared to FY2017 after posting a 9-month loss. It cited tough operating circumstances that led to a decline in interest income after the Central Bank Rate (CBR) was revised from 9.50% to 9.00% in July. “Further, the trading environment continued to be unfavourable, leading to a slowdown in the real estate sector credit growth. The tough operating circumstances have led to an increase in the non-performing loans position, which has also adversely affected the business performance,” said Sam Waweru, the Acting Group…

Presiding Magistrate Julius Nang’ea has denied bond to three Chinese nationals charged with bribery allegations. The three Chinese men work for the China Roads and Bridge Corp. at the Standard Gauge Railway in Mombasa, Noordin Haji, Director of Public Prosecutions said in a statement. They are charged with giving a bribe of KSh900,000. According to the ODPP, “The three, Mr. Li Gen the in-charge of Transport, Mr. Li Xiaowu-security manager and Mr. Sun Xin-staff, were offering DCI investigators bribe of Kshs 500,000 as an inducement to influence an ongoing criminal investigation at the SGR Miritini terminus.

The Kenya Revenue Authority (KRA) is a very important component of the well-being of the general economic growth of the country. The truth is, without the KRA, there would be no development going on and the government would literally fail to function. It is KRA that makes sure that the government gets the much-needed revenue that is needed for the day to day running of functions and in the funding of developmental projects. KRA is the medium between the taxpayer and the government, but what happens when the medium fails and becomes a frustrating conduit that is used to torment…