Study raises questions about whether UBI is the ‘right policy choice’ for managing severe shocks BY PAUL DENNING A new study examining the effect of Universal Basic Income (UBI) in Kenya shows that cash transfers improved recipients’ food security and health and these gains sustained through the policy responses to the Covid-19 pandemic and the hungry season. Beneficiaries of a basic income experienced less hunger, sickness, and depression, both before and after the country implemented restrictions to tackle Covid-19, according to the research. The research was conducted by Tavneet Suri, associate professor of Applied Economics at the MIT Sloan School of Management, Abhijit Vinayak Banerjee, the…
Author: NBM CORRESPONDENT
BY ANTONY MUTUNGA In the early 2000s, Uchumi and Nakumatt dominated Kenya’s retail industry as they battled for the leader’s tag. At the time, the likes of Ebrahim supermarket, Tuskys and Naivas were small fish that only competed for the average customer. Dominating the industry, access to investment, the desire to expand and a growing consumer class saw the large retailers move with speed to expand in order to increase their profits. As a result, Uchumi, which was the leading supermarket chain since the 1970s, increased the number of stores it had from 10 to 25 across Kenya and Uganda…
With Tuskys and Uchumi on their deathbeds, Nakumatt and Choppies folded, Shoprite on its way out, the trouble is real BY GILBERT NG’ANG’A Kenya’s retail industry is at crossroads and battling perhaps its worst crisis year exacerbated by the Covid-19 pandemic and failing consumer value propositions. Tuskys Supermarkets is financially troubled, its shareholders are embroiled in a damaging row, creditors are up in arms lining up for its assets and auctioneers are not making this any better. The ailing regional retail giant that is owned by Tusker Mattresses Ltd has fired tens of workers and shut down at least four…
BY DAVID WANJALA Some time in May 2018 President Uhuru Kenyatta, in an uncharacteristic fashion, shocked the nation when he took a swipe at his deputy in public for the first time ever since the two ascended to power. He referred to the country’s number two as ‘this boy’ to his face in a clear display of displeasure at Mr William Ruto’s early campaigns in his quest to become the President in 2022. The President was presiding over the issuance of 50,000 title deeds at Jacaranda Grounds in Embakasi when he lost his cool. “Hii kijana anaitwa Ruto unajua kila…
BY GILBERT MUYUMBU During the 15 years of the Jomo Kenyatta regime, the LSK was served by a total 14 chairpersons, one more than the number of LSK chairpersons who served under the successor Moi regime. They included Justice Harris (1963-1964), B.T. Modi (1964-1965), S.M.C. Thomson (1965-1966), G.S. Sandhu (1966-1967), K.B. Keith (1967-1968), E.P. Nowrojee (1968-1969), P. Le Pelley (1969-1970), Samuel N. Waruhiu (1970-1972), M.Z.A. Malik (1972-1973), J.A. Couldrey (1973-1974), Ramnik Shah (1974-1975), S. Sangale (1975-1976), P.J. Ransley (1976-1977) and Krishan C. Gautama (1977-1979). These were men (all LSK chairpersons were men until the election of Rachel Omamo in 2001)…
BY VICTOR ADAR Ask any doctor about what it takes to predict illness, foretell risk of cancer or lack of it, and he or she will quickly tell you that it takes a single drop of blood to identify hundreds and thousands of normal and abnormal genes. Isn’t it interesting that experts are saving people from adverse impact of diseases? According to Prof. Mansoor Saleh, the founding chair, department of oncology, and founding director of Aga Khan University Hospital, Nairobi Cancer Center, if cancer is detected early, there are better chances of survival. He says that setting up proper cancer…
Imagine you own five acres of land in a fertile region. You plant spinach, onions and tomatoes. Or, you rear pigs and chicken. After some months you are ready to supply your produce to a market. You need a proper means of transport. But which route do you take? Do you hire one, or simply buy? A car is a costly asset that an individual or a corporate entity would decide on. It is at the back of this that Co-operative Bank entered into a partnership with Toyota Kenya, a move that will enable the bank’s customers to purchase commercial…
BY DAVID WANJALA The biggest constraint to the growth of the fashion industry in Kenya is second-hand clothing popularly known as mitumba, Textile Industry Report by the British Council has shown. The report, released on September 23 also called for regulation of the imports and details major constraints and growth opportunities for the industry, which is among those heavily hit by Covid-19 pandemic. The report is the result of the Fashion DNA Needs Analysis study of the fashion designer SME ecosystem in Kenya. The aim of the Needs Analysis is to inform the development of new strategic fashion designer business support interventions appropriate…
When investment company, Centum Investment, appointed Wambua Kimeu as new group finance director, the move was well received. He takes over the position from Samuel Karuiki who not only served as the group finance director but also as the managing director at Centum Real Estate. With the appointment coming after the firm posted a net profit of Sh4.6 billion from Sh4.1b for the year ended March 31, 2020, the onus to maintain the good financial health of the company rests on him. And the good thing is, he has all it takes to make things happen. Mr Kimeu is a…
Pan-African housing development financier Shelter Afrique has entered into a strategic partnership with the World Bank aimed at addressing the affordable housing crisis evident across the African continent. The Sh20m ($200, 000) technical assistance (TA) partnership will provide advisory services funded under the Joint Capital Markets Program (JCAP) aimed at supporting Shelter Afrique’s capital market program. Shelter-Afrique is a pan African housing finance and development institution established by African governments to address the need for sustainable housing delivery system and related infrastructure projects in Africa. Shareholders include 44 African countries, the African Development Bank, and the African Re-Insurance Corporation. The JCAP program is an initiative…
