Author: Francis Muli

The Kenyan economy recorded an average growth of 5.4 percent for the first three quarters of 2019, compared to an average of 6.0 percent in a similar period in 2018. The subdued growth, according to Cytonn, was mainly as a result of slowdown in agricultural activities due to delayed long rains, which curtailed agricultural production, and decreased output in transport and electricity activities, due to the rise in prices of fuel and insufficient long rains in the first and second quarters, respectively. Private sector credit growth improved in 2019, averaging 4.2 percent in the 10-months to October, compared to 3.4…

Italian contractor CMC di Ravena, which was contracted to construct Itare Dam, disbursed millions into school accounts, supermarkets and insurance firms. According to preliminary investigations and documents from the Directorate of Criminal Investigations (DCI), billions were paid to a number of institutions directly from the firm’s accounts held at Barclays Bank, Westlands branch. In one of the instances, Ksh664,615 was wired to the accounts of the Molo-based St Andrews School Turi on August 2, 2018. For what purpose the money was sent, it still remains a mystery. Read: How CMC di Ravena Has Been Trying To Steal From African Countries…

The Directorate of Criminal Investigations (DCI) has dismissed a report circulating online issuing an alert to Kenyans over imminent terror attack. The security brief allegedly from the office of the Regional Criminal Investigation Officer (RCIO) Nairobi Area and signed by Mr Ben Nyakwaka names a number of installations,social and worship places as the major targets. “We wish to confirm that this is a FAKE document. The casual draft is evident for such information if it was genuine at all. It is an open document marked for ‘ALL’. No such classified document is ever dispatched from any authoritative office in this…

Deputy President William Ruto is now opposed to the Building Bridges Initiative, and wants the same discarded and focus shifted to the Big Four Agenda. In a tweet, an angry Ruto said that ODM leader was using BBI to craft his 2022 line-up. “We accept that Bbi/handshake has been hijacked to craft Odm’s 2022 political line up. Unity/inclusivity pretence & associated squander of public resources should stop.Unity?the opposition (NASA) is already dismembered/dead;now dividing Jubilee. Big4 roll out only way to go,” tweeted Ruto. https://twitter.com/WilliamsRuto/status/1216239694268325888 On his side, Raila said that Kenyans should prepare for a referendum this year, that will…

The United Kingdom (UK) has issued a travel advisory for its citizens against Kenya following the Manda Bay attack by Al Shabaab militants on Monday. Through its Foreign and Commonwealth Office (FCO), advised its citizens against traveling to the country, and if necessary only visit some areas. “The Foreign and Commonwealth Office (FCO) advise against all but essential. Terrorists are very likely to try to carry out attacks in Kenya. There is a heightened threat of terrorism, including terrorist kidnappings, across Kenya,” the UK posted on its website. Read: KCAA Re-opens Manda Airport After Al Shabaab Attack Among the areas…

Subira, based on an award-winning 2007 short film turned to a feature-length drama, premieres on Emirates award-winning inflight entertainment system, ice, this month. Subira which translates to patience is directed by Ravneet Sippy Chadha and tells a story of a young girl from Lamu, who loves swimming and fishing with her father, but after he dies in a boating accident, she is conformed to her mother’s traditional upbringing. The movie stars Brenda Wairimu, Tirath Padam, Nice Githinji and Melvin Alusa. The movie has so far won 15 international awards. Sippy started her career with such award winning short films as Kibera Kid (2007), Charcoal Traffic (2008), Tick…

The mention of the name James Philip Maina Ndegwa will draw little or no attention among most Kenyans, but in the halls of most parastatals and government agencies one might be sent packing at the mention of the name. He is the chairman of the NIC Bank, which merged with CBA bank to form the new NCBA Bank, where he is said to own a couple of shares. He is the Chairman of First Chartered Securities Limited and a director of several companies. Prior to his present position, he was the Managing Director of Lion of Kenya Insurance Company until…

The National Hospital Insurance Fund (NHIF) has reviewed its terms, now reducing the number of dependant children to five from the current 10, while eligible spouses will remain at one. Additional dependents can be included subject to payment of additional premiums to be communicated after actuarial valuation. In a Special Full Board Meeting held on December 17,  2019, nhif  resolved that as from January 2020, the waiting period for new voluntary National Scheme members would be increased from current 60 days to 90 days and a one-year upfront payment introduced, payable within the waiting period. The penalty on defaulting beneficiaries…

Kenya is in a major disagreement with her neighbour Uganda over excise duty charged on beer, pharmaceutical and spirits products exported to Uganda. Uganda has been charging a 13 percent excise duty on the products, which Kenya finds hefty and wants the tax done away with, or the country will “retaliate”. According to Trade Principal Secretary Chris Kiptoo, Uganda has already agreed to abolish the taxes. “Uganda has given an undertaking that it will abolish these taxes, but if they do not we have no alternative but to reciprocate,” Kiptoo told  local daily. Read: Kenya’s Cement Export To Neighbours Slumps…

The National Assembly’s Committee on Finance and National Planning has rejected Safaricom’s petition to do repeal a legal clause that requires companies to make business reports to the Competition Authority of Kenya (CAK). Companies are required by CAK, pursuant to the guidelines, to share information in their reports such as terms of payments, pricing of goods and services, interest payable as well as conditions of contract termination or variation. However, Safaricom unsuccessfully argued that sharing such information would amount to interference. “Defining how parties should contract and the terms they should include in their contracts would constitute interference in the…

Kenya’s cement industry now faces a bleak future, even as its export to neighbours seems to be dwindling day by day. In the first nine months of 2019, exports to East African markets suffered a 67.9 percent slump, blamed on increased production capacity in the region amid a general economic slowdown. According Kenya National Bureau of Statistics (KNBS) latest data, the manufacturers sold 41,349 metric tonnes valued at Ksh475.2 million to Uganda, Rwanda, Tanzania, South Sudan and DRC Congo down. In the same period of 2018, the manufacturers sold 128,961 tonnes valued at Ksh1.3 billion. During the time under review,…

A 40-year-old man identified as Richard Wangai yesterday committed suicide at Adlife Plaza after he allegedly lost a Ksh15 million gamble. CCTV footage from the building shows the man jumping from the fourth floor, after contemplating for over a minute on the edge of the building. The man is said to have arrived and stayed for over an hour at the building, after losing the gamble at Top Star Casino. Police say they found some tablets in his pockets. Read: CS Matiang’i Says Gov’t Winning War On Gambling Menace The management of the Casino however denied that the man visited…

Questions have been raised on Capital Markets Authority (CMA) role as an independent regulator of as it is emerging that some executives and board members are using their position at the regulator to strangle entities competing with their interests. Since 2015, the authority has been under James Ndegwa as the chairman. Unknown to many, James Ndegwa is the chairman of the former NIC Bank, which recently merged with CBA to form the NCBA Bank, meaning he is a market player with products competing with those of other entities he is supposed to regulate. In fact, some stakeholders have intimated to KahawaTungu…

Local Authorities Provident Fund (Lapfund) is now facing losses amounting to millions allegedly orchestrated by the CEO David Koross. Lapfund is a state corporation that manages pension funds for employees of county governments and other bodies like water companies. According to inside sources, Koross has been the mastermind of contracts that have seen the body lose millions of shillings, which he receives as kickbacks with his cronies. Read: Standard Chartered Bank Ordered To Produce Statements In Ksh827 Million KPC Scandal For instance, it is alleged that the development and construction of Mavoko Gardens Estate in Syokimaun was estimated to cost…

Controversial firm Cambridge Analytica influenced elections in more that 68 countries, leaked documents have now indicated. Already, part of over 100,000 documents have started leaking detailing how the company was involved in a massive voter manipulation in the countries, including in the US and Kenya. In one of the email conversations leaked from the firm, the firm demonstrates to potential clients how they manipulated several voters such as the case of Senate candidates in Arkansas, North Carolina and New Hampshire in US. Read: Former Cambridge Analytica Employee Reveals Close Ties With Jubilee Party During 2017 Elections “We collaborated with Bolton…