Kenya - The African Mirror

Jan

2024

Kenya receives $210 mln in loans from TDB, finance minister says

THE Trade and Development Bank (TDB) has lent Kenya $210 million, Finance Minister Njuguna Ndung'u told Reuters on Friday, ahead of the maturation of a $2 billion Eurobond in June. Falling hard currency reserves, a steep weakening of the Kenyan shilling and revenue challenges have raised questions about the country's ability to make the Eurobond payment, although the International Monetary Fund (IMF) said on Thursday that it does not expect Kenya to default. The loan facility by the TDB, an African development finance institution serving 25 member states, is part of its mandate to raise $1 billion for Kenya's liability management, Ndung'u…

Jan

2024

By The African Mirror

Kenya cult leader charged with terrorism-related crimes in starvation deaths

NEWS

KENYAN cult leader Paul Mackenzie and 94 others were charged with terrorism-related crimes related to the deaths of 429 of his followers whose bodies have been exhumed from the Shakahola forest. The charges, announced during an appearance before a court in the southeastern city of Mombasa, are the first to be brought against Mackenzie, who was arrested last April after the bodies started to be discovered. Mackenzie and his co-defendants denied the charges during their appearance before the judge, Joe Omido. They are due back in court on February 8 for a bond hearing. Authorities say Mackenzie, the head of…

Jan

2024

By The African Mirror

Should Kenya abolish all school exams? Expert sets out five reasons why they’re still useful

EDUCATION

THE role of examinations in Kenyan schools is under scrutiny. This is because there is a lot that is wrong with the country’s examinations, a situation that threatens to derail education gains made over the decades. For instance, for two consecutive years – last year and the year before – the periods during the country’s national examination period were marred by allegations of leaked tests. These allegations are linked to cartels which make money from parents and learners. BEATRICE M’MBOGA AKALA, Lecturer, University of the Witwatersrand There were also reports this year of high school students receiving contradicting results from…

Jan

2024

By DUNCAN MIRIRI

Kenya to go to international bond market soon as conditions allow

BUSINESS

KENYA intends to go to international bond markets as soon as the market situation allows, its finance minister and central bank governor said in a letter to the International Monetary Fund published. The East African nation has been on the radar of foreign investors in recent months due to a $2 billion Eurobond that is maturing this June amid a drop in hard currency reserves, a steep weakening of the currency, and revenue challenges. Separately, the head of an IMF mission to Kenya said the fund does not think Kenya will default on its Eurobond payment. The rolling over of…

Dec

2023

By The African Mirror

Carrefour’s Kenya franchisee says it will appeal $7.2 mln penalty

BUSINESS

CARREFOUR'S franchisee in Kenya, the United Arab Emirates-based Majid al Futtaim (MAF), said that it will appeal against a 1.1 billion shilling ($7.14 million) penalty imposed by the competition authority for alleged abuse of buying power. The regulator Competition Authority of Kenya on Tuesday announced the fine, a record high in the East African nation, saying MAF Kenya was guilty of offering two local suppliers unfavourable terms. "Majid Al Futtaim has full confidence in the fairness and integrity of our business practices and is appealing the Competition Authority’s decision," the company said in a statement. In arriving at its decision, the authority…

Dec

2023

By The African Mirror

Kenya fines Carrefour franchisee $7.2 mln for abuse of buyer power

BUSINESS

KENYA'S competition authority said that it has penalised the local Carrefour franchise holder, UAE-based Majid AL Futtaim, 1.1 billion Kenyan shillings ($7.15 million) for abusing its ability to set terms for suppliers. "The supermarket chain is required to amend all its supplier contracts and expunge clauses that facilitate abuse of buyer power," the antitrust regulator said in a statement. The penalty is the biggest ever handed out by the Competition Authority of Kenya, the regulator said. Majid AL Futtaim, which opened its first Kenya outlet in 2016 and has grown to become one of the biggest retailers, was found guilty by…

Dec

2023

By The African Mirror

Kenya, EU advance economic partnership agreement to boost trade

BUSINESS

KENYA and the European Union moved closer to sealing an Economic Partnership Agreement that will grant the East African nation's exports duty-free status and unlimited access to the bloc, officials said on Monday. Both sides had initiated a draft deal in June after seven months of negotiations. The EU is one of Kenya's biggest export markets. The deal was approved by the European Union Council last week. It will now be presented to the parliaments of both sides for ratification before it comes into force. "Today's agreement heralds a new dawn where Kenyan goods gain immediate duty- and quota-free access…

Dec

2023

By ANGE ADIHE KASONGO

Congo recalls envoys to Kenya and Tanzania over alliance launch in Nairobi

NEWS

DEMOCRATIC Republic of Congo recalled its ambassadors from Kenya and Tanzania for consultations after a new Congolese military alliance that includes rebels was launched in the Kenyan capital. Alain Tshibanda, spokesperson for Congo's foreign ministry, announced the X platform. The envoy to Tanzania was recalled because Tanzania hosts the headquarters of the East African Community, to which Congo also belongs. Earlier on Saturday, the Kenyan embassy's head of mission had been summoned to the foreign ministry in Kinshasa. The Kenyan government could not immediately be reached for comment. On Friday, Congolese politicians and groups including the M23 rebels, who have seized…

Dec

2023

By The African Mirror

Kenya to scrap visas for all visitors, president says

NEWS

VISITORS to Kenya from across the world will no longer require a visa from January, President William Ruto said. Ruto said his government had developed a digital platform to ensure all visitors would receive an electronic travel authorisation in advance, instead of needing to apply for a visa. "It shall no longer be necessary for any person from any corner of the globe to carry the burden of applying for a visa to come to Kenya," he said in a speech in the capital Nairobi at an event to mark 60 years of independence from Britain. Ruto has long advocated…

Dec

2023

By The African Mirror

Kenya at 60: the shameful truth about British colonial abuse and how it was covered up

THOUGHT LEADERSHIP, EDITORS CHOICE

IT is fairly well known that the lives of hundreds of thousands of Kenyans were affected by terrible acts of violence under the British colonial administration. The British government and King Charles have acknowledged it, and some victims of violence have taken the British government to court for these crimes. AOIFE DUFFY, Senior Lecturer, University of Essex Less known is how much the British imperialist government tried to cover up these violations. My research reveals how harsh British detention camps in Kenya were, and the extremes to which the colonialists went to conceal information about this. Much of this violence…