At the close of April, the Ministry of Health had spent Ksh1.3 billion even though the approved budget was Ksh976.8 million. In similar regard, a report by Auditor General Nancy Gathungu revealed how Ksh2.3 billion was lost in procuring Covid-19 medical supplies.
Investors will be required to put their money in high-impact enterprises creating jobs and raising Kenya's export earnings to be eligible. The plan is seen as a way of growing Foreign Direct Investment (FDI) inflows into the country.
Kenya Railways Corporation (KRC) expects residents of Western Kenya to enjoy rides between Kisumu and Nakuru where they will be able to join the Standard Gauge Railway (SGR) to Nairobi and Mombasa. The line, more than 100 years old, has remained neglected since 2008 when Rift Valley Railways was named the concessionaire.
Causing physical damage, business interruption or loss of revenues, civil unrest incidents are becoming a more significant risk for companies in the current environment, as reflected in the findings of the Allianz Risk Barometer 2021. In the annual global risk survey, ‘political risks and violence’ returned to the top 10 risks for the first time since 2018.
The firm expects net earnings to be at least 25 per cent lower than that reported in the last full financial year. In November 2020, the listed firm had caused jitters after releasing its half year results for 2020/21 - posting a Ksh1.7 billion loss for the period ended September 30, 2020 down from a Ksh6.7 billion profit recorded in the same period last year.
The Covid-19 related economic disruption has resulted in an approximately 40% of Sub-Saharan Africa countries being at risk of debt distress that will occasion an economic recession that will take ages to recover. For sub-Saharan African economies, interest repayments constitute the highest expenditure portion — and fastest-growing expenditure —of budgets.
A keen look at the auction notices tells a deeper story. Auctioneers are struggling to find buyers leaving them stuck with re-possessed properties, with harsh economic times meaning that fewer Kenyans are willing or able to acquire the repossessed vehicles, land, buildings and office equipment
While Kenya's public health system is weighed down by corruption, inadequate funding, mismanagement and labour disputes - its private facilities seem to be fairing much better. Ensuring that the country's health facilities - both private and public - meet the highest international standards would open up a multi-billion shilling medical tourism industry in the country.
As the zero-rated transaction period lapsed on January 1, Safaricom cut low value M-Pesa transaction fees by up to 45 per cent in line with a deal agreed with the Central Bank of Kenya (CBK). Withdrawal fees remained in place.
The move notably comes amid a global conversation on imposing higher taxes on the rich - with a growing movement piling pressure on their governments to do so as a way of taming inequality and channeling resources to neglected and impoverished communities.
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