Over the past decade China’s trade with Africa increased from $100 billion in 2007 to $230 billion by the end of 2017. While much of this trade has been dominated by Chinese exports, the inaugural China International Import Expo (CIIE) held in Shanghai from 5 – 9 last month marked the practical expression of China’s intention to change the content and balance of its trade with Africa. As China evolves away from export-led growth towards a mixed consumption-led development model, Africa has been identified as China’s chief source of future beneficiated commodities, industrial and services imports. To this end both…
Author: NBM CORRESPONDENT
BY ANTONY MUTUNGA For the past half century, a new norm has been gaining momentum transforming the employment sector through a shift from stable employment towards self-employment that is a bit more flexible. This shift has been on a rise as more and more people take up part time jobs and freelancing as a way of making ends meets, giving birth to what has come to be known as the gig economy. A freelance writer who occasionally does articles for a publication, a part time professor and a contracted web designer all have one thing in common, they are part…
BY ANTONY MUTUNGA Access to credit is one of the major problems that Kenyans have faced for the last several years. The problem was made even worse with the implementation of the interest rate cap that saw banks completely reduce access to loans for a majority of the population. As a result, many people were left stranded, as they couldn’t get access to credit in order to operate their businesses. The situation got even worse for those who originally had loans and needed more credit in order to increase their earnings and pay up. Such individuals got stranded. The businesses…
BY DAVID WANJALA It is well over two years since the interest-rates capping law became operational on September 14, 2016. The law was implemented following concerns raised by consumers and legislators about the high cost of credit. Self-regulation on interest rates by banks was viewed at the time as a hindrance to credit access. The law was expected to kill two birds using one stone – to lower the cost of credit and increase access to credit. What is the impact of the law on the economy two years on? Have the intentions of the interest rate capping law been…
BY DAVID ONJILI Nairobi hosted the first global conference on Sustainable Blue Economy where over 18, 000 participants from more than 180 countries from across the globe attended. The aim of the conference was to seek ways to harness the potential of the world’s oceans, seas, lakes and rivers to improve the lives of all. The backbone to a blue economy is finding the middle road between sustainability and economic growth with regards to water resources. This can be achieved with the help of innovation and use of new technologies that must serve in reducing carbon emissions as we switch…
BY SHADRACK SHARU Does your business collect customer’s names, phone numbers, identity numbers or biometrics? If yes, you will soon be considered a data processor according to Section 2 of the Data Protection Bill. The Privacy and Data Protection Taskforce Draft Policy and Bill is the latest data protection draft law. Earlier on, the Senate Information, Communication and Technology Committee had published a Data Protection Bill. The business model of the digital age involves a lot of personal data collection and the right to privacy has become a critical issue in commerce. Kenyan entities with foreign clientele have been forced…
BY ANTONY MUTUNGA In 1896, a Swedish scientist known as Svante Arrhenius forecasted the scope of the world warming up as a result of widespread coal burning. He was the first person to investigate the effects that doubling carbon dioxide in the atmosphere would have on the climate on earth. Over the years several other individuals worked on similar projects however, despite being something crucial, the analysis and findings never hit the spotlight at the time. It wasn’t until recently that the world started to recognize and identify the threat that the emissions had on the climate. It was during…
The Capital Markets Authority (CMA) and the National Council for Law Reporting (Kenya Law) have jointly released a premier Digest of 27 capital markets decisions delivered by Courts in Kenya. The Digest, which summarizes critical milestones in capital markets jurisprudence is the first of its kind to be published in the financial sector in Kenya. It covers a ten-year period from 2008 to 2018 and is indexed into seven categories covering civil cases, civil appeals, constitutional petitions, judicial review applications, miscellaneous applications, civil suits and criminal cases. “The capital markets, both domestically and globally, are highly specialized and governed by…
BY SHADRACK MUYESU As it is, Kenya is a lower middle-income state, a status that, it must be emphasised, is as a result of economic manipulation in rebasing rather than meticulous planning or working systems. Markedly, the economy continues to grow albeit at a slower rate. We all agree however, that we are far behind and need to grow faster. Public spending on infrastructure is the way we have chosen – a novel idea really, the best even, but with this comes the question of cost. The money we need to fund our projects can only be raised by adopting…
BY VICTOR ADAR Ever wondered why lack of professional skills has been a major challenge to economic and national development, or how to boost employability of young people? In this day and age, it is only innovative and creative ideas that will hold. And empowering Kenya’s youth with professional skills and exposure is generally one of the ways to make things happen. It is no wonder DHL Global Forwarding, a provider of air, sea and road freight services, is currently in a partnership with My Dream Now, a Swedish non-profit social enterprise that provides mentorship programs to school children and…