Vellum Weekly

Finger on the Pulse: Significant Political Events of the Week

Monday, March 11, 2024 President Ruto met Kenya Kwanza MCAs as he drummed up support for key government projects, including the Affordable Housing Programme and the Social Health Insurance Fund.  Tuesday, March 12, 2024 The Senate approved the Affordable Housing Bill, 2023, despite concerted efforts

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Trade and Financial Services Round-Up.

Kenya New levy lined up for State contractors The Treasury has introduced a new levy on contractors making supplies to both national and county governments, a shift likely to raise the cost of public procurement. New regulations published by Treasury Cabinet Secretary Njuguna Ndung’ u

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Political and Regulatory Affairs Round-Up.

Kenya Standoff as striking doctors rubbish mediation calls A stand-off is looming between the Ministry of Health and doctors, following directions by the Employment and Labour Relations Court that parties negotiate in good faith and find a solution to the impasse on the posting of

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Parliamentary Round-Up.

NATIONAL ASSEMBLY Tuesday, March 12 2024 at 2:30 PM Bills The Natural Resources (Benefit Sharing) Bill (Senate Bill No. 6 of 2022) The Division of Revenue Bill (National Assembly Bill No. 14 of 2024)  The Regional Development Authorities Bill (National Assembly Bill No. 7 of

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Plastic Vs. Planet: East Africa should intensify the battle against single-use plastics 

As Earth Day approaches on April 22nd, 2024, the spotlight shines brighter on East Africa’s escalating struggle with plastic waste, pitting the convenience of single-use plastics against the survival of the planet. Across the region, from bustling urban centres to remote villages, the challenges with

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Now you see it; now you don’t affair: Kenya will still deploy police force in Haiti as the West keeps off the hot potato. 

Kenya will still lead a UN-backed multinational police force in the Caribbean country of Haiti to help quell gang violence once a transitional presidential council is formed.  President William Ruto, on March 13, said in a post on X (Twitter) that US Secretary of State

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How to give a voice to citizens in evidence-informed policy processes.

Citizens have a vital role in shaping health policies that affect their lives. However, much remains to be done to make policies more responsive to their needs and values. Engaging citizens in evidence-informed policy-making (EIP) greatly contributes to gaining insights into their perspectives, preferences, and

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Who is Who: Meet Raimond Molenje, the new Acting CEO of Kenya Bankers Association

Mr Molenje joined the Kenya Bankers Association in 2018 and has 19 years of experience in legal and regulatory practice, human capital, and policy advocacy, having held senior management roles in leading business member organisations. Until his appointment, Raimond served as the Director of Legal,

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Kenya joins the Egmont Group: Implications on businesses and the war against money laundering and terrorism financing

Kenya has recently been under increased spotlight, particularly on the money laundering and terrorism financing (ML/TF) front. The Financial Action Task Force (FATF) recently put Kenya on the heightened watch list, often referred to as the “grey list,” citing deficiencies in its anti-money laundering and

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AfCFTA Digital Trade Protocol: A review of the key to overcoming barriers to intra-Africa digital trade.

Digital trade, defined as digitally enabled transactions for the trade of goods and services, is reshaping the global economy and the regional economy is not exempted. Its impact on growth, development, and job creation is powerful, especially among the youth. It has the potential to

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National Building Code 2024: Revolutionising Kenya’s construction sector for world-class digital infrastructure and economic growth.

In a landmark move set to redefine Kenya’s urban landscape, the Cabinet Secretary for Lands, Public Works, Housing, and Urban Development has unveiled the much-anticipated National Building Code 2024. Published in the Kenya Gazette Supplement No. 36 on February 20th, 2024, this comprehensive code is

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Ending monopoly to curb frequent power outages: Further review of the new energy regulations.

In last week’s Vellum, we covered the draft Energy (Electricity Market, Bulk Supply and Open Access) Regulations, which opened access to the entire value chain of the electricity grid to anyone interested in selling electricity in the country. This effectively ends Kenya Power and Kenya

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From nightmare to sector success: Training bodaboda operators is the key to a safer  and more profitable future

Eric Massawe, Country Manager at Watu (Kenya) In Kenya, boda bodas have become more than just a means of transportation. They have evolved into the unsung heroes of our communities. Beyond ferrying people from one point to another, they play a vital role in delivering

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Finger on the Pulse. 

  Battle looms in ODM as Raila Odinga’s ‘exit’ whets appetites for top seat ODM leader Raila Odinga is facing a litmus test as his party gears up for grassroots elections next month amid a raging succession battle. Mr Odinga’s quest for the chairmanship of

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Trade and Financial Services Round-Up.

Kenya State risks losing Sh60m in cheap gas project. The project, which resumed in 2022 after stalling for years, is meant to wean poor households from the use of dirty wood fuel by providing them with liquefied petroleum gas cylinders, grills, and burners to households

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Political and Regulatory Affairs Round-Up

  Kenya Mudavadi rallies diplomats to back Raila for AUC chairperson’s position Kenya has formally pitched Opposition leader Raila Odinga to peers, seeking to have him elected the next African Union Commission (AUC) chairperson. In a briefing to diplomats representing African countries in Nairobi, Prime

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Parliamentary Round-Up

Tuesday, 5th February National Assembly   Motions Appointment of Members to the Committee on Powers and Privileges       The Hon. Joseph Lekuton, CBS, MP       The Hon. Farah Maalim, EGH, MP       The Hon. Festus Mwangi Kiunjuri, MP  

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African health ministers commit to end malaria deaths

Ministers of Health from African countries with the highest burden of malaria committed on Wednesday, March 6, 2024 to accelerated action to end deaths from the disease. They pledged to sustainably and equitably address the threat of malaria in the African region, which accounts for

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FKE slams PSRA for unilateral actions impacting jobs and contracts

The Private Security Regulatory Authority (PSRA) in February 2024 released a Legal Notice notifying the general public of a list of 726 registered and licensed corporate private security service providers in Kenya as of 5th February 2024. Nine private security companies not on the list

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Simplifying tax compliance: How small businesses can join the eTIMS bandwagon.

In a groundbreaking move aimed at revolutionising tax collection, the Kenya Revenue Authority (KRA) has introduced the electronic Tax Invoice Management System (eTIMS), mandating all businesses to electronically generate and transmit their invoices. This initiative includes businesses in the informal sector and small businesses, emphasising

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Balancing Kenya’s carbon deal with Saudi Arabia: Addressing land degradation and acquisition challenges.

Following UNEA 6, Kenya and Saudi Arabia have entered into a voluntary agreement on carbon credit deals to help Kenya tackle land degradation issues. Unlike compliance markets, which are created as a result of any national, regional, and/or international policy or regulatory requirement, voluntary carbon

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New energy regulations set to open Kenya’s electricity market to competition and investment. 

One of the biggest problems the electricity market has faced in Kenya has been the monopoly over the transmission and distribution of electricity in the country by two state agencies. Transmission and operation of the transmission infrastructure are done by the Kenya Electricity Transmission Company

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Kenyan banking sector balances strong profits with sovereign exposure challenges

Fitch Ratings recently conducted a peer review, where they assessed the creditworthiness of three bank holding companies – KCB Group PLC, NCBA Group PLC, and I&M Group Plc – along with their Kenyan banking subsidiaries and Stanbic Bank Kenya Limited. The rating given to these

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IWD 2024: Investing in HER power for a sustainable future

On this International Women’s Day, as we celebrate the achievements of women worldwide, it is imperative to highlight the theme, “Invest in Women”. There is a Kiswahili saying that goes, “Mpiganaji kama simba, mwanamke ni nguvu isiyo na kifani” (like a lioness in battle, a

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Potential obstacles in Raila’s bid for AUC job even as State machinery prepares for the campaign.

Azimio La Umoja One Kenya Coalition leader Raila Odinga’s fate for the position of African Union Commission (AUC) chairperson hangs on the decision of the African heads of state and government following the introduction of gender angle. A draft report on the preparation for the

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KENYA GAZETTE

Supplements Senate Bills, 2024 The County Governments Election Laws (Amendment) Bill, 2024   National Assembly Bills, 2024 The Treaty Making and Ratification (Amendment) (No.2) Bill, 2024   Legislative Supplements, 2024 The National Construction Authority Act—The National Building Code, 2024   LAND & ENVIRONMENTAL SECTOR Environmental

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Finger on the Pulse 

President Ruto presides over groundbreaking of Talanta Sports City President William Ruto on Friday presided over the groundbreaking ceremony of the construction of Talanta Sports Stadium. The event took place at the Jamhuri Grounds on Ngong Road. The 60,000-capacity stadium is one of the host

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Trade and Financial Services Round-Up 

Kenya Puzzle of counties running 1,400 illegal bank accounts County governments are operating more than 1,400 accounts in Kenyan commercial banks, in breach of the law that requires them to hold their cash at the Central Bank of Kenya (CBK). The Controller of Budget has

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Political and Regulatory Round-Up 

Kenya Violence rocks Haiti as Prime Minister visits Kenya Haiti’s Prime Minister, Ariel Henry, visited Kenya in a bid to sort out issues that have stalled the deployment of Kenyan police officers to the troubled country. This was revealed by Prime Minister Henry’s Office on

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Parliamentary Round-Up

Tuesday 27th February National Assembly Motions       Ratification Of The Agreement On The Establishment Of The International Vaccines Institute       Report Of The Auditor-General On The Financial Statements For The National Government Ministries, Departments And Agencies For The Financial Year 2020/2021

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One in eight people are now living with obesity

A study released by The Lancet showed that in 2022, more than one billion people in the world were living with obesity.  Worldwide, obesity among adults has more than doubled since 1990 and has quadrupled among children and adolescents (5 to 19 years of age).

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F1’s shift to sustainable fuels and its implications on the future 

Formula One (F1), the pinnacle of motorsport, has long been synonymous with innovation. Throughout its illustrious 70-plus-year history, F1 has consistently pioneered technological advancements that not only enhance the sport but also make significant contributions to broader communities. From Project Pitlane, an initiative launched during

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SAMA hosts President Ruto, Ethiopia’s PM to discuss Kenya’s digital transformation 

On Tuesday this week,  SAMA AI was host to Kenya’s President William Samoei Ruto and Ethiopia’s Prime Minister Abiy Ahmed, alongside Kenya’s Cabinet Secretary for Information, Communications, and the Digital Economy, Eliud Owalo, Kenya’s Principal State Department Secretary of ICT and the Digital Economy, Eng.

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An analysis of foreign competition regulations in comparison to the COMESA regulations. 

Competition law comprises a set of legal rules which aim to control the socially harmful exercise of private market power, whether through hardcore cartels, single-firm monopolies, or mergers that reduce structural competition. This is a discipline that has undergone a remarkable process of expansion in

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Shaping global environmental policy to tackle climate change, in light of UNEA

The recent conclusion of the sixth United Nations Environment Assembly (UNEA-6) in Nairobi, Kenya, has underscored the urgency of shaping global environmental policy to combat the escalating climate crisis. As the world’s foremost decision-making body on environmental matters, UNEA-6 served as a vital forum for

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Re-thinking the FATF Approach: Assessing the Effectiveness of the Listing Model as Kenya navigates the “Grey List”

  Background Kenya is, once again, on the international financial market radar, not for Eurobond reasons but this time round for money laundering and terrorism financing (ML/FT). The Financial Action Task Force (FATF) placed Kenya on the ‘grey list’ – putting the country under increased monitoring

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President Ruto’s visit to the US and its implications for STIP.

Before the United States Strategic Trade and Investment Partnership (STIP), there was the African Growth and Opportunity Act (AGOA), a multilateral agreement with African countries enacted in 2000. Initially meant to last 10 years, the agreement is headed into its third renewal next year. However,

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President Ruto’s critical role in leading the Comprehensive Institutional Reforms of the African Union (AU)

In 2016, African leaders decided that institutional reforms of the African Union (AU) were necessary given the role the continental body plays in driving and achieving Africa’s Agenda 2063 vision of inclusive economic growth and development. At the time, Rwanda’s President Paul Kagame was mandated

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Trade and Financial Services Round-Up.

KENYA World Bank, IMF charging Kenya 14.5pc interest — CoB Controller of Budget Margaret Nyakang’o has flagged the cost of concessional loans taken up by the government over the years from lenders such as the International Monetary Fund (IMF) and the World Bank, saying they

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Political and Regulatory Round-Up.

KENYA Ruto plans more taxes Plans by President William Ruto’s administration to introduce additional taxes to raise more revenue have kicked up a storm. The 2024 Budget Policy Statement (BPS), which is currently before Parliament, contains proposals that seek to boost revenue collection by expanding

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Parliamentary Round

Tuesday February 20th, 2024   National Assembly Motions The Affordable Housing Bill (National Assembly Bill No. 75 of 2023) Report of The National Dialogue Committee Report of the Auditor-General on The Financial Statements for the National Government Ministries, Departments And Agencies for the Financial Year

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Member states review proposed amendments to the International Health Regulations, equity discussions continue

WHO Member States have continued discussions on proposals to amend the International Health Regulations (IHR, 2005), during which the importance of their work to future global security was highlighted.   The seventh meeting of the Working Group on Amendments to the IHR (WGIHR) was held on 5-9 February

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ESG Integration: A game-changer in investment strategies for resilient, sustainable returns

In recent years, Environmental, Social, and Governance (ESG) considerations have emerged as critical factors reshaping the investment landscape. Investors are increasingly recognising that sustainable business practices, ethical conduct, and responsible governance are not only beneficial for society and the environment but also essential for long-term

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The power of fairness: The currency for success in corporate culture and economic transaction.

Fairness is a fundamental aspect of human behaviour that goes beyond simple transactional interactions. From psychological experiments to legal rulings and corporate governance, the concept of fairness influences decision-making in various spheres of life, including corporate. Fairness plays a crucial role not only in personal

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2024 Medium-Term Debt Management Strategy analysis

The Medium-Term Debt Management Strategy (MTDS) is an annual policy document written by the National Treasury to guide government borrowing and debt management. The 2024 document prepared in January 2024 has figures up to June 2023, while the Second Quarterly Economic and Budget Review (QEBR)

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Navigating the complexities of encryption: Striking the balance between privacy and security in the digital age

In an increasingly digital world, the protection of privacy and the maintenance of security have become paramount concerns. The passage of the UK Online Safety Act highlights the ongoing struggle to strike a balance between combating illegal online activities and safeguarding individual freedoms. The UK

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The making of a national budget: Kenya’s budget cycle timeline

Kenya’s financial cycle relies on the budget process, which begins with the budget-making process. The budget process is guided by the budget calendar issued by the National Treasury and Economic Planning ministry, which stipulates timelines for several key activities to be undertaken to finalise the

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Kenya’s fiscal landscape: A Review of the 2024 Budget Policy Statement and its implications on businesses

Background The Budget Policy Statement (BPS) is a government policy document that sets out the broad strategic priorities and policy goals to guide the National Government and County Governments in preparing their budgets for the subsequent financial year and over the medium term. This is

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Raila eyes African Union leadership and the delicate task of electing a capable leader for the AUC chairperson position

 The Assembly of Heads of State and Government of the African Union (AU) will, in February 2025, elect a new African Union Commission (AUC) chairperson once Chad’s Moussa Faki Mahamat concludes his two-term tenure. The AUC chairperson serves as the chief executive officer and legal

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Finger on the Pulse.

Kenya opposition leader to bid for AU Chairmanship Kenyan opposition leader Raila Odinga has embarked on a quest to become the Chairman of the African Union, leveraging his extensive past experience as the AU High Representative for Infrastructure Development in Africa. Odinga held this prestigious

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Trade and Financial Services Round-Up

Kenya Gulf fuel products import scheme lifts Kenya banks dollar holdings The government-to-government deals on the importation of fuel products have increased the dollar reserves of banks, fuelled by a requirement that they accumulate hard currency to support payments under the scheme. Kenya entered the

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Political and Regulatory Round-Up.

Kenya Cabinet approves privatisation of 7 State-owned enterprises Kenya’s Cabinet on Wednesday approved the sale of seven more State-owned enterprises following a meeting chaired by President William Ruto at State House in Nairobi, bringing the total number of entities set to be privatised to 17.

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Parliamentary Round-Up

Tuesday February 13th, 2024   Motions   National Assembly   Appointment of members to the House Business Committee   (i) Hon. Omboko Milemba, CBS, M.P.  (ii) Hon. Robert Mbui, CBS, MP  (iii) Hon. Hon. Faith Wairimu Gitau, MP  (iv) Hon. Samuel K. Chepkonga, CBS, MP  (v)

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Updated WHO guidance for controlling vector-borne diseases through indoor residual spraying.

An estimated 80% of the world’s population is at risk of one or more vector-borne diseases. Mosquitoes, flies, bugs, and other vectors transmit viruses, parasites and bacteria that infect millions of people globally. They cause deadly and debilitating diseases such as malaria, dengue, Chikungunya, yellow

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Corporations in Kenya join govt in the ambitious plan to plant 15 billion trees.

Responding to the urgent global call for environmental protection and sustainability, Kenya has made a bold move to plant an unprecedented 15 billion trees. Aimed at mitigating climate change, increasing biodiversity and enhancing environmental resilience, this ambitious effort reaffirms the nation’s commitment to environmental stewardship

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You can run, but you can’t hide: As Kenya adopts CRS, calls for balancing tax transparency with data privacy concerns emerge.

Kenyan commercial banks have started implementing the Common Reporting Standards (CRS), a tax procedures regulation of 2023. This regulation requires all Kenyan banks, trusts, and other financial institutions to report and share information about foreign account holders with the Kenya Revenue Authority (KRA) as the

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CBK agriculture survey: Sector shows resilience, expects price decline despite challenges.

The Central Bank of Kenya released the Agriculture Sector Survey for January 2024,  highlighting the sector’s significant contribution to the country’s economy. Accounting for an estimated 33% of the GDP, agriculture serves as the backbone of Kenya, playing a vital role in generating foreign exchange

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Insights from the National Assembly report on the Affordable Housing Bill, 2023.

The Parliamentary Budget Office (PBO) in January 2024 published a financial and economic analysis of the Affordable Housing Bill, 2023 (the Bill). The PBO in its analysis raised several issues and concerns on the potential implementation of the Bill in the event it was assented

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Lessons from AFCON 2023 success: Kenyan brands should embrace sports sponsorship for customer engagement and exposure.

The curtain came down on the 34th edition of the TotalEnergies CAF Africa Cup of Nations on Sunday, February 11th, in a tournament that featured some of the current best players in world football, including Sébastien Haller (Côte d’Ivoire), Sadio Mane (Senegal), Victor Osimhen (Nigeria),

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Navigating Voluntary Tax Disclosure Programmes: A Guide for Businesses.

In the dynamic landscape of taxation, businesses often find themselves grappling with complex tax compliance requirements. In response to this challenge, tax authorities around the world have introduced voluntary tax disclosure programmes (VTDPs) to incentivise taxpayers to come clean about previously undisclosed tax liabilities. These

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CBK surveys point to optimism despite inflationary pressures: MPC raises interest rates.

The Central Bank of Kenya (CBK) conducts a Market Perceptions Survey before each Monetary Policy Committee (MPC) meeting to gather insights from banks and non-bank private sector firms regarding various economic indicators such as inflation, economic growth, credit demand, and exchange rates. The survey aims

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Driving compliance in Kenya: Public and private sectors should collaborate to navigate low compliance levels.

Compliance is a critical imperative for both the public and private sectors, although the nuances of implementation vary significantly between them. The distinct approaches taken by both sectors are largely influenced by the inherent differences in organisational structures, objectives, and accountability mechanisms. The differences notwithstanding,

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Kenya’s Eurobond return exceeds expectations, eases debt repayment concerns.

On February 7, the Kenyan government made an offer to partially repurchase its existing Eurobond, which is maturing on June 24, 2024, at par, including payment of accrued interest. Additionally, the government announced its intention to issue a new bond in the market.    The

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Finger on the Pulse

Monday, 5th February 2024 Private sector activities surge to 5-month high amidst slowing inflation Kenya’s private sector economy moved closer to growth territory in January, with workforce numbers expanding for the first time in five months. Reports attribute the near stabilisation to a continued slowdown

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Political and Regulatory Affairs Round

KENYA   Banks start sharing customer data, balances with KRA   Banks have started sharing information about foreign account holders with the Kenya Revenue Authority (KRA) as the taxman steps up its purge of tax dodgers and beneficiaries of illicit wealth.   Some banks on

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Parliamentary Round-Up

The National Assembly and the Senate adjourned their sittings on Thursday, 7th December 2023, for the long December recess. Both Houses will resume on Tuesday, 13th February 2024.

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Empowering women in STEM is a crucial step towards achieving SDGs by 2030

As we navigate the complexities of the 21st century, the importance of Science, Technology, Engineering, and Mathematics (STEM) in achieving sustainable development cannot be overstated. However, a critical hurdle persists – the underrepresentation of women in STEM fields. Understanding and addressing this gender gap is

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Global cancer burden growing, amidst mounting need for services

Ahead of World Cancer Day, the World Health Organization (WHO)’s cancer agency, the International Agency for Research on Cancer (IARC), released the latest estimates of the global burden of cancer. WHO also published survey results from 115 countries, showing a majority of countries do not

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President Ruto’s Japan visit Sh350bn deals, powering Kenya’s economic revival

President Ruto’s visit to Japan earlier this week led to the signing of agreements worth Kshs 350 billion. A giant share of the money will go towards key projects and programmes crucial for Kenya’s economic revival. Notably, the Dongo Kundu Infrastructure Ecosystem and the Mombasa

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AfCFTA competition protocol: Balancing opportunities and challenges for digital platforms in Africa

The vision of a united Africa is realised through the establishment of the Africa Continental Free Trade Area (AfCFTA), the world’s largest Free Trade Area (FTA), encompassing 55 countries and representing all African Union (AU) member states. The practical implementation of the AfCFTA has the

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Ukrainian delegation visits Kenya: Kyiv actively pursues business and diplomatic relations with Nairobi amid ongoing conflict

The Republic of Ukraine, despite the ongoing conflict, is actively seeking diplomatic partnerships and building relationships with Kenya. A delegation from Ukraine was in the country recently to meet various government officials and Members of Parliament to discuss areas of interest. Such sectors of interest

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 Bridging the revenue deficit: Kenya’s quest to explore diverse international markets

Kenya’s economy was hit by global shocks, including the COVID-19 pandemic and geo-political issues, such as the Ukraine-Russia conflict, over the past two years. This has been exacerbated by the ballooning debt obligations owing to the downward trajectory of the shilling against the dollar. As

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Kenyan shilling expected to continue free fall against the dollar through 2024, prompting urgent action

The Kenyan shilling’s free fall against the dollar and major currencies is expected to continue for the better part of 2024, as the local currency officially crossed the 160-unit points against the US dollar on January 15.  This suggests that President William Ruto’s administration has

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Trade and Financial Services Round-Up.

KENYA UK and Kenya in fierce tax fight The United Kingdom has made an official complaint over the higher import duty Kenya charged on some of its products, a senior government official has revealed. In line with the East Africa Community (EAC) Customs Union, Kenya

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Political and Regulatory Affairs Round-Up

KENYA Court paves the way for companies to now participate in criminal trials The High Court in Nairobi has declared a section of the law allowing victims to participate in trial unconstitutional for not including companies and associations. Justice Thande Mugure, in her judgement, said

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Parliamentary Round-Up

Parliament adjourned its sittings on Thursday, 7th December 2023, for the long December recess. Both Houses will resume on Tuesday, 13th February 2024.

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NEMA takes bold action against polluters to salvage Nairobi River Basin

In a significant move towards environmental conservation, the National Environment Management Authority (NEMA) has issued restoration orders to 29 companies, compelling them to clean up their environmental mess within the heavily polluted Nairobi River basin. This directive comes after the companies failed to comply with

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Transformative impact of aligning businesses with the SDGs.

The Sustainable Development Goals (SDGs) are a global initiative agreed upon by 193 countries in one of the most united diplomatic motions. These goals outline the challenges faced by societies around the world. The SDGs encompass a wide spectrum of issues, from poverty eradication and

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PSRA’s solo move to impose minimum wage on security firms sparks legal challenges and ministry disapproval

The Private Security Regulatory Authority (PSRA) in November 2023 released a Legal Notice which set the minimum wage for private security officers at Kshs.30,000 per month. While this was a move that was highly welcomed by the private security guards in the country, their employers

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Kenya’s economic landscape in 2024: Report reveals resilient growth trajectory amidst adversities necessitating balance

A macro-fiscal analytic snapshot has been given in a joint report by IPF Kenya and Oxford Policy Management. It reveals a resilient growth trajectory amidst adversities. We delve into the key messages outlined in the report, exploring the nuanced impact on poverty, inflation, debt, fiscal

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Entrenching devolution: Need for adaptation strategies by businesses ahead of trade and industry function unbundling

The national and county governments, under the auspices of the Inter-Governmental Relations Technical Committee (IGRTC), are currently undergoing a validation exercise on government functions. The three-week exercise that began last week will see functions prescribed to both levels of government under the Fourth Schedule of

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When policies do more harm than good: Unpacking the impact of regulatory changes in the face of EABL’s profit  decline

The release of East African Breweries Limited’s (EABL) half-year results has sparked debate on the adverse impacts of regulatory and policy changes on the business environment. EABL’s profit after tax declined by 22 per cent to Kshs 6.8 billion, a downturn attributed to macroeconomic-driven cost

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Kenya’s economic struggles: The IMF-backed reforms, fuel subsidy controversy and the road ahead

At present, Kenya is grappling with multiple challenges compounded by global conditions impacting economic activities and leading to tightened financial conditions.  The Kenyan economy is facing multiple challenges as it tries to recover from a prolonged drought and El Nino effects. These challenges include volatility

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Political and Regulatory Round-Up

KENYA IMF criticises Ruto government for continuing fuel subsidies The International Monetary Fund (IMF) has hit out at Kenya over the reintroduction of the fuel subsidy scheme on the grounds that lack of funds to pay oil marketers will lead to distortion of the budget.

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Ruto convenes historic summit with the judiciary to draft anti-corruption policies amidst allegations and attacks on independence

President William Ruto, on January 22, met with Chief Justice Martha Koome following recent attacks on the Judiciary by the Executive and a section of Members of Parliament (MPs), who have accused the third arm of the government of rampant corruption.  The President convened a

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Finger on the Pulse

Monday, 15th January 2024 Kenya has inched closer to joining the China-led Asia Infrastructure Investment Bank (AIIB) after the Cabinet approved the country’s subscription to the membership of the institution.   Tuesday, 16th January 2024 The IMF report during the World Economic Forum reveals that

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Trade and Financial Services Round-Up

KENYA Shilling falls to a new low of Sh160 to the dollar The shilling’s official exchange rate has hit Sh160.23 to the dollar, extending its record decline against the US currency on the back of pressure from importer demand and efforts by the Central Bank

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Political and Regulatory Round-Up.

KENYA Summary of Cabinet Resolutions On January 15th, the Cabinet Dispatch announced a series of approvals that will shape Kenya’s governance and economic landscape. The Railway Amendment Bill 2024 is set to initiate new ways of running railways. The approval of the Treasury Single Account

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Parliamentary Round

Parliament adjourned its sittings on Thursday, 7th December 2023, for the long December recess. Both Houses will resume on Tuesday, 13th February 2024.

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WHO releases AI ethics and governance guidance for large multi-modal models

The World Health Organization (WHO) is releasing new guidance on the ethics and governance of large multi-modal models (LMMs) – a type of fast-growing generative artificial intelligence (AI) technology with applications across health care.   The guidance outlines over 40 recommendations for consideration by governments,

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An overview of Kenya’s carbon market regulations: A blueprint for sustainable practices and environmental responsibility

In the pursuit of a sustainable and eco-friendly future, Kenya has taken a significant stride by implementing the Climate Change (Carbon Markets) Regulations, 2023. This regulatory framework aims to provide a structured approach to carbon market projects, offering both opportunities and revealing potential gaps. Let’s

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 Challenges threatening EAC unity: A closer look at disputes, economic disparities, and potential rifts

The East African Community (EAC), whose slogan is One People, One Destiny, was established to foster cooperation among the partner states, which comprise Burundi, the Democratic Republic of Congo, Kenya, Rwanda, the Federal Republic of Somalia, South Sudan, Tanzania, and Uganda. The cooperation was to

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Achievement Stocktaking: Kenya Kwanza Government Performance and Delivery Roadshow

The Kenya Kwanza Government, on 9th January 2024, launched a week-long Government Performance and Delivery Roadshow, spearheaded by Public Service, Performance, and Delivery Management Cabinet Secretary Moses Kuria. This initiative aims to assess the government’s accomplishments in the year since it assumed office. The roadshow

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Solar Maximum 2024: Are we on the brink of an Internet apocalypse?

So, in case you are unaware, we are currently in solar cycle 25, which commenced in December 2019. But there is nothing too predictable about a solar cycle, which on average lasts 11 years. The sun’s magnetic field propels a solar cycle. The sun, like

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Which way in the Executive-Judiciary tiff?: An analysis of the call for consultation and the imperative of cooperation 

In the recent past, the President has openly retorted that detractors have resorted to using court processes and procedures to derail his agenda. With much agitation, President Ruto went ahead to assert that he was ready and willing to defy court directions and remain fixated

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 IMF-GoK negotiations: Review unveils progress and challenges from tax measures to state-owned enterprises

During the IMF-Treasury discussions, a review highlighted several met structural benchmarks, with the exception of the qualitative performance criteria for tax collection. However, the deviation observed was smaller than initially anticipated at the time of the reviews. In the wake of December, authorities submitted to

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The church must speak truth to power and navigate its complex relationship with politics

  The clergy are being challenged to speak truth to power and act as a check on the government, particularly at a time when the church is grappling with a tarnished reputation, often accused of going to bed with the government.  In recent times, the

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Business landscape 2024: Key measures for corporate compliance in the new year amidst evolving challenges

Since a majority of the world’s economic activity is conducted through corporations, their impact on society is significant. As such, potential corporate misconduct poses a significant threat to social welfare. History has shown that imprudent and irresponsible corporate behaviour and action have a far-reaching impact

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Judiciary under siege: Why separation of powers and judicial independence must be protected

The judicial role of administering justice should operate independently without any coercion or manipulation in favour of the executive or any other government body.  The entrenchment of the rule of law in Kenya will remain a challenge if the Executive continues to criticise judges publicly

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Kenya-Uganda trade standoff: Legal battle after denied licence and concerns over fuel import crisis

According to trade statistics from 2021, Uganda is a major destination for Kenyan exports, making it a crucial trading partner. As a landlocked country, Uganda heavily relies on Kenya and Tanzania to access goods that arrive via sea. It, therefore, came as a surprise that

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