Author: Antony Mutunga

BY ANTONY MUTUNGA Kenya’s GDP growth increased to 6.3% in 2018 from 4.9% in 2017, thanks to increased production in the agricultural sector, continuous growth in the transport sector, acceleration in the manufacturing sector and a vibrant service sector. As a result, the country was expected to increase its growth come 2019. However, this is did not come to pass as Kenya experienced a slowdown recording a growth of 5.4%. According to the 2020 economic survey by the Kenya National Bureau of Statistics (KNBS), Kenya’s economy was higher when compared to that of Sub-Sahara Africa, which stood at 3.1% in…

BY ANTONY MUTUNGA The beginning of 2020 was to mark the end of the continuous challenges that a majority of small and medium enterprises (SMEs) in Kenya have been facing. Limited access to credit (top of the list), limited market access, poor infrastructure, rapid changes in technology, and lack of adequate skills and training are but a few. With President Kenyatta recently repealing the interest rate cap, SMEs were foreseeing a change in terms of finance, which in turn, would help deal with the rest of the challenges. In the last half of 2019, the private sector, which had…

Shares of technology companies on the stock market have suffered following closures of stores, cancellation of events and delay of products BY ANTONY MUTUNGA Since the outbreak of the corona-virus late December last year, China has witnessed more than 4,000 deaths and counting. The country’s economy has also taken a beating as the virus, code-named as COVID-19 has caused countless factories to close down for an unknown period and flights to several cities in the country to be grounded. To control the outbreak, the Chinese government has also resorted to disinfecting and destroying cash from affected areas and in turn…

BY ANTONY MUTUNGA The most anticipated annual list of young Kenyans, 2019 100 Most Influential Young Kenyans, which is spearheaded by leading PR & Rating firm, Avance Media, has been released. The annual ranking has highlighted the works of many young Kenyans across the world and has seen notable personalities such as Daniel “Churchill” Ndambuki (2016) and Darshan Chandaria (2018) voted as the Most Influential Young Kenyans. According to Prince Akpah, MD of Avance Media, this year’s list has a gender record of 56 females and features young Kenyans who have made remarkable contributions towards their respective fields which has…

BY ANTONY MUTUNGA Last year not only saw the advancement of emerging technology but also the introduction of new innovations. IoT, 5G and artificial intelligence, for instance, advanced to new heights while the likes of NANO1, the world’s smallest astronomy camera and solar roadways became a reality. In 2020, technology is expected to go even further as the likes of 5G become more available around the world. However, this is not the only mobile technology expected to become more popular in the year. 2020 is also expected to be the year of the eSIM. Despite being used in Apple devices…

BY ANTONY MUTUNGA W hen President Uhuru Kenyatta signed the interest rate cap into law, most financial institutions were enjoying high returns due to the high-interest rates they were charging. However, since the signature, the institutions shifted their focus to lending mostly to large organizations and governments whom they considered less risky. What came next was a decline in access to credit for most small and medium enterprises (SMEs), which make up a majority of the Kenyan economy. Kenya’s economy has continued to slow down due to a reduction in the growth of the private sector, a rising unemployment rate,…

BY ANTONY MUTUNGA The beginning of the year mostly symbolizes a fresh start for many. However, the beginning of 2020 was different for one of the country’s oldest retailers. It marked the end of an era for Nakumatt, which was once the biggest retailer’s in East Africa. Since 2017 the company struggled with a cash crunch, which saw it start to reduce the 60 stores it had as it could no longer raise enough cash to pay rent or its creditors and suppliers. The entry of France’s Carrefour and South Africa’s Shoprite into the market continued to hurt the retailer.…

BY ANTONY MUTUNGA There is no doubt that the digital economy in Africa is on the rise. According to the International Telecommunication Union (ITU), the number of people using the Internet in Africa soared to 24.4% in 2018 from 2.1% in 2005. The growing adoption of technology is fast transforming the continent. The rapid adoption of mobile technology has seen the continent leapfrog fixed-line Internet connections and increase financial inclusion.Despite technology creating solutions for health, environmental and overpopulation challenges that Africa is facing, the continent relies much on overseas technology companies to create the needed digital infrastructure. As a result,…

Username investments augment her properties with a perimeter fence, estate gate, graded access roads, water and electricity making them ready for immediate development to woo more customers BY ANTONY MUTUNGA The local youth are facing a tough time where unemployment and lack of credit have crippled most opportunities to better their living standards. With formal employment not offering enough chances to serve their growing population, a majority have ended up in the informal sector. As a result, many of the youth have put aside any thoughts of investing in a home or in a plot. The growing real estate sector…

BY ANTONY MUTUNGA Last year, the sub-Saharan region recorded a 3% growth after a slow year in 2017, where it stood at 2.7%, according to the International Monetary Fund (IMF). This was as a result of better economic policies and external environment. For 2019, the IMF predicted the economic growth was to increase even further, stating it would reach 3.5%. After six months, the institution reviewed its forecast, and in its October 2019 regional economic outlook, it trimmed down its forecast to 3.2%. The slower pace is due to weaker growth in one of the largest countries in the region,…