The CBK expects these measures to enhance monetary policy transmission and support the key objectives of price and financial system stability BY SILAS APOLLO The Central Bank of Kenya’s Monetary Policy Committee has introduced an interbank interest rate around the Central Bank Rate (CBR) at over and below 2.5%, in line with the reforms outlined in the White Paper on modernisation of the monetary policy framework and operations The new rates, adjusted to inflation, was approved by the bank’s Monetary Policy Committee (MPC) on Wednesday, and aims at ensuring that the interbank rate, as an operating target, closely tracks the…
Author: NBM CORRESPONDENT
The firm recently commissioned a macadamia oil extraction plant that will unlock the demand for value-added products within its food portfolio BY SILAS APOLLO Listed company, Kakuzi has formally adopted a new corporate identity that seeks to highlight its commitment to agricultural development for the domestic and export markets. The fresh brand, the company says, is its first defined brand visual system and strategy in 95 years, and is aligned with its agricultural transformation agenda, which emphasizes sustainability and climate-smart agriculture at its core. It also signifies a transition to the contemporary world of ‘superfoods’ growing for both the domestic…
By Joe Mungai T he increasing rate of road carnage in Kenya poses significant challenges to the transportation and logistics industry. The safety of life and the protection of goods and vehicle should be the core business of every driver. Fleet owners need to employ measures that can be implemented to mitigate risk. Before commencing a journey, truck drivers should ensure cargo is properly secured on the trailer. Use appropriate restraints such as straps, chains, or load bars to prevent shifting, or falling during transit. When driving an empty truck, ensure that any loose equipment such as tarps, straps, or…
By Dr Gilbert Mwaka Pain is a common phenomenon that is experienced by almost everyone – it is estimated that about 20% or more of a population may suffer from chronic pain and the prevalence can go up depending on different circumstances. Although pain acts as a warning system that prepares us to work on or prevent any harmful occurrence, I will focus on the kind which hinders functionality and, many times can debilitate a person. It is ‘that pain’ that requires pain management for a person to get back to their life or redesign a new life and be…
Worldcoin, which was launched on July 24, is an international cryptocurrency agency awarding its users with “free tokens” referred to as WLD once they verify their humanity by scanning their eyeballs. To get the money, users transfer their tokens to official crypto exchanges where they can buy other cryptocurrencies, which can be cashed out through liquidity agents on those platforms or sold to other users. By scanning the iris, Worldcoin creates personal identification codes called ‘World ID’ which is saved on a decentralized blockchain. This will be used digitally to ascertain whether online activities are from humans or Artificial Intelligence…
By Antony Mutunga The demand to be ahead in the Artificial Intelligence (AI) technology space has seen the technology advance quite fast in a span of a few years. But despite the advantages that AI brings to the world, it is better to be smart in terms of privacy and security. A number of tech players have agreed to regulate their development in artificial technology. Google, Microsoft, OpenAI, Meta, Amazon, Inflection and Anthropic have agreed to new safeguards for the fast-moving technology that will ensure safe, secure and transparent development of the technology. How do they do that without losing…
Millions of small, independent shops in East Africa will need to look at diversifying, digitizing, and even partnering for growth in response to a challenging and rapidly evolving landscape. These cornerstones of neighbourhoods undeniably form an integral part of a countries socioeconomic system. A retail solutions company that represents some of the top fast-moving consumer goods (FMCG) and commerce brands, Smollan, gives a glimpse into the dynamics of this growing sector and the challenges and opportunities that arise. Seen within the context of small-scale retail tied to history, traditions, and trading preferences of consumers in a particular region. As defined…
By NBM Writer The African office market faces challenges from oversupply, changing work patterns, and unfavourable economic conditions. These factors have contributed to prolonged vacancy rates, decreased sales of office space, and a notable decline in rental returns. For example, in the Nairobi Metropolitan Area, an excess supply of office space of over 8mn sqft surpasses the current demand. Consequently, developers have put a hold on new construction projects until the “extra” office space in the market is absorbed. The office occupancy levels in Nairobi have also experienced a decline of 3.9%, dropping to 71.5% from the 74.9% recorded in…
What the lifting of ban on Finance Act 2023 means for your daily lived experience by Antony Mutunga Tax payers are wailing. In June, as Members of Parliament passed the Finance Act 2023 that would later be approved by President William Ruto on June 26, it was clear that a majority of Kenyans are in for a bad experience. Through the law, the government hopes to raise its 3.6trillion budget, a move that will result in Kenyans digging deeper into their pockets because of new tax measures. It was hoped that a lawsuit by Okiyah Omtatah,senator of Busia, that saw…
The US printed over $13 trillion during COVID lockdowns, resulting in massive inflation at home and then around the world. Today, Kenya is caught between imported inflation caused by US monetary policy on the one hand, and loan repayments and stalled economic activity on the other. By Peter Wanyonyi November 1971 was a watershed moment for international economics and the United States (US) dollar. Up to that point, the US had maintained and honoured dollar-gold convertibility at market rates: back then, as now, countries settled their international accounts in dollars. But, unlike today, those dollars could – and frequently were…
