“According to our estimates, Agriculture Insurance Premium globally is USD 32 billion. East Africa contributes about USD18 million, of which Kenya is about USD10 million. Governments and the Private Sector in East Africa are working together to increase agriculture insurance penetration. Less than 5% of the Kenya farming community is insured,” said Lovemore Forichi, Senior Underwriter of Agriculture at Allianz.
The chamber, which represents businesses from across the country, also wants the Central Bank of Kenya (CBK) to allow lenders to restructure loans for clients as happened at the onset of the pandemic in the first quarter of 2020.
In his address, Kagwe noted that, with new infections on the rise, it is a race against time for governments to re-look at some policy interventions necessary to provide appropriate coping and recovery mechanisms to respond to the crisis.
The National Treasury has signed a Memorandum of Arrangement (MOA) with New Zealand Ministry of Foreign Affairs and Trade (MFAT) and African Union Commission (AUC) to access the facility.
At the height of the pandemic, Incentro Africa, working with the Africa Google Cloud Distributor Digicloud Africa, partnered with The Central Bank of West Africa States to roll out Google Workplace in seven days for the 1300 employees located across eight countries without interrupting service or productivity. It also worked with the Kilifi County Government and SBM Bank.
The proposals by Igembe South MP Paul Mwirigi would see beneficiaries of the student loans protected from paying fines until they secure employment. At present, beneficiaries are required to start paying the loans one year after graduation.
“The pandemic has had a detrimental effect on lives and livelihoods across the Globe and, as with other players in the industry, DTB group has had to navigate through the resulting very challenging business environment, fraught with significantly elevated credit risk, by taking a prudent view and significantly ramping up provisions,” Ms. Devji observed.
Located close to the Central Business District (CBD), the terminus is currently a hub for upcountry-bound matatus among other vehicles. It has, however, also earned a negative reputation for its chaos, cases of crime and poor maintenance.
Financial Results: Sidian Bank, the mid-tier bank focusing on SMEs, has recorded a profit before tax of Ksh72 million for the year ended 31st...
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.