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<p>Kenya&#8217;s public debt is up by as much as Ksh432 billion in the first half of 2021 largely attributed to increased external debt in the wake of the Covid-19 pandemic. But what kind of pressure does this put on the taxpayer? Churchill Ogutu, Head of Research at Genghis Capital joins CNBC Africa for more.</p>


The cost of Kenya’s rising debt

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<p>According to the 2021 Global Fintech Ranking, Nairobi jumped 26 places upwards to rank 37th on the global ranking.</p>


2021 Global Fintech Rankings: Here’s how Africa fared


<p>NAIROBI (Thomson Reuters Foundation) &#8211; In the last three months, teacher Faith Njeri has been a regular customer at a courier service office in Nairobi, collecting parcels sent from her village three hours drive north of the capital.</p>



<p>When the coronavirus pandemic closed the private school where she taught, “I was left jobless,” she said. Efforts to feed her family by washing clothes failed “as people avoided any intrusions in their homes for fear of getting infected with the virus.”</p>



<p>With three hungry children and no alternatives, she called her parents in her home village, asking them to send food to keep the family afloat.</p>



<p>“We did not have any money, and we needed to survive,” she said. “When it became apparent that hunger would kill us instead of the virus, we turned to our people back in the village.”</p>



<p>As coronavirus-related restrictions and economic downturns make bringing in an income harder, many urban families in Kenya &#8211; and in other countries around the world &#8211; are looking to their rural families for help.</p>



<p>In some cases, the calls for help represent an abrupt turnaround in relations, as city dwellers with jobs, who once sent regular cash to support their families at home, now find themselves the ones in need of help.</p>



<p>The added burden on rural families &#8211; some of them struggling to feed themselves as more extreme weather linked to climate change hurts harvests &#8211; has been substantial, they and farm experts say.</p>



<p>“Most (rural) families have been constrained as the little they had was sent to Nairobi to sustain their relatives,” said Phillip Oketch, a dairy expert with the Kenya Climate Smart Agriculture Project.</p>



<p>Njeri’s mother, who farms in Gathuthi, in Nyeri County, said 30% or more of her earnings have gone to sustain her jobless children and grandchildren in Nairobi through the pandemic.</p>



<p>Previously, her four children sent home about $500 each year, she said &#8211; but this year they have instead sent four of her grandchildren to live with her in the village, to try to ease costs in the city.</p>



<p>Joseph Kimathi, another farmer from the village of Katheri in Meru County who has sent food to his children in Nairobi, said the pandemic had created a substantial financial burden for farmers.</p>



<p>“I had to forego profits and ensure the survival of my three children in the city, whose forms of livelihoods were suddenly cut by the pandemic,” he said.</p>



<p>Kenya’s lockdown eased in early July but an economic downturn linked to the COVID-19 pandemic means many urban residents are still receiving a reduced paycheck or struggling to find work, Oketch said.</p>



<p>Doreen Akinyi, who lost her job as a hotel waitress, said she continues to rely on a weekly pack of fish and maize flour sent by her aging mother in Mambo Leo, a village in Kisumu County.</p>



<h3 class="wp-block-heading">PRESSURE ON HARVESTS</h3>



<p>Zaverio Chabari, executive director of the non-profit Strategies for Agro-Pastoralists’ Development Kenya, said the need for rural families to send food to city relatives has been particularly difficult as the country grapples with harvest losses to flooding and locust swarms this year.</p>



<p>“By the time the COVID pandemic struck, much of the food at the farms was already ruined,” Chabari said.</p>



<p>Transportation also for a period was a challenge thanks to coronavirus-linked movement restrictions and road flooding &#8211; though Kenya’s Ministry of Agriculture quickly classified food transport as an essential service.</p>



<p>Gladys Miriti, head of the Grassroots Development Initiative Foundation-Kenya and one of those receiving food from her home village during the pandemic, said the situation had provoked substantial psychological stress for many urban families.</p>



<p>At the height of the lockdown, “they did not have money as most of them lost their jobs, they had children to feed, movements were restricted, the virus cases kept on surging and so a mix of fear, hopelessness, and uncertainty engulfed the people,” she said.</p>


shutterstock_227423392

As coronavirus steals jobs, urban Kenyans look to their rural families


<p>By Louw Nel – Political Analyst</p>



<p>On March 11, as many as 70 MPs gathered at the Serena Hotel in
Nairobi to call on Deputy President William Ruto to resign. </p>



<p>A joint statement was signed by members of both the National
Assembly and Senate, representing a number of parties: the governing Jubilee
Party and the main opposition, the Orange Democratic Movement (ODM), along with
alliance partners Wiper, Forum for the Restoration of Democracy (Ford), Amani
National Congress (ANC), and Kenya African Democratic Union (Kadu). </p>



<p>Their call for Mr Ruto to resign followed the announcement by
Senate Minority Leader James Orengo that he would be initiating impeachment
proceedings against Mr Ruto “in two weeks”.</p>



<p>According to the statement, Mr Ruto is accused of having “declared
war against established state institutions” and is said to be “guilty of public
misconduct and grave malpractices and has not lived up to the oath of office”. </p>



<p>Listed in the statement are seven “concerns and controversies”,
including his alleged “history of fraud, acquisition of unexplained wealth and
unjust enrichment [and] arms deals and association with the underworld”.
Central to Mr Orengo’s impeachment drive is a scandal involving a fraudulent
deal to purchase KSh40bn in military equipment and the suspicious death of a
police officer linked to the matter. </p>



<p>The investigation into a KSh11.5m ‘consultancy fee’ paid by arms
dealers has already resulted in the arrest of the former sports minister,
Rashid Echesa, and is increasingly being linked to Mr Ruto’s office. </p>



<p>Among those calling for Mr Ruto’s resignation were members of
Jubilee’s so-called Kieleweke faction, aligned to President Uhuru Kenyatta. </p>



<p>A growing rift between Mr Kenyatta and Mr Ruto continues to be
fuelled by speculation over the incumbent reneging on his commitment to endorse
his ambitious deputy as Jubilee’s presidential candidate ahead of the 2022
elections. </p>



<p>Mr Kenyatta’s rapprochement with ODM leader and former adversary
Raila Odinga has further antagonised Mr Ruto. </p>



<p>Current battle lines are drawn over the Building Bridges
Initiative (BBI), which is championed by Messrs Kenyatta and Odinga and is
seemingly gaining momentum. </p>



<p>Mr Ruto is openly hostile to the initiative. In particular, he is
suspicious about one of its key recommendations – the proposed appointment of a
prime minister – which Mr Odinga and others would like to put to a referendum
in 2020. </p>



<p>Cleavages within Jubilee are becoming more pronounced with Mr
Ruto’s Tangatanga faction vowing a fightback.</p>



<p>The impeachment bid, should it be launched, will face significant
challenges. At least one third of all MPs (115) need to endorse the motion
before it can be tabled in the National Assembly, with a two-thirds majority
(234) required to carry the motion to the Senate. Organisers of yesterday’s
event say their statement was supported by 165 MPs. </p>



<p>Moves to undermine Mr Ruto’s 2022 succession bid are gaining
momentum and he must now know that he faces an enormous challenge, both within
his party and Kenya more generally. </p>



<p>Although it is too early to say if an impeachment drive against
him will be successful, a successful launching of proceedings will be a major
blow. </p>



<p>Kenyan politics is never short of intrigue, but there is no doubt
that recent developments are significant and that Mr Ruto’s political career is
under siege.





ty65 \lsdl</p>


Op-Ed: Kenya – Bid launched to remove Ruto

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In 2018, electric mobility company Ekorent, launched electric taxi hailing services in Kenya’s capital Nairobi. After a successful pilot phase, the company has added more electric vehicles to its Kenyan fleet. CEO and Founder of Ekorent, Juha Suojanen joins CNBC Africa for more.</p>


Electric taxi-hailing service Ekorent expands presence in Kenya

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As the Global Off-Grid Solar Forum &#038; Expo 2020 kicks off today in Nairobi, Kenya – CNBC Africa spoke to the VP of Access to Energy at Schneider Electric, Olivier Jacquet on how East Africa can sustainably boost access to energy for all.</p>


Schneider Electric’s Olivier Jacquet on how to improve access to power in East Africa

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The Capital Markets Authority (CMA) will start to regulate the sale of coffee at the Nairobi Coffee Exchange, a move that seeks to curb cartels in the sector. According to draft regulations published by Treasury CS, Ukur Yatani, the Agriculture and Food Authority’s Coffee Directorate will cease to regulate the coffee sales – including the weekly auctions in Nairobi. George Bodo, Director of Callstreet Research joins CNBC Africa for more.</p>


Kenya’s CMA to tighten regulation of coffee sales as way to combat cartels

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<p>The past years have seen radical changes in the needs of the global labour market and Kenya, East Africa&#8217;s biggest economy is yet to adjust her education system to fit these needs. Wanjuhi Njoroge, a global shaper based in Nairobi joins CNBC Africa on how best the country can adapt to the changing landscape.</p>


Wanjuhi Njoroge on how best Kenya’s education system can leverage labour market

Wanjuhi Njoroge on how best Kenya’s education system can leverage labour market, equip youth with skills


<p>NAIROBI (Reuters) &#8211; Kenya’s earnings from tourism rose 3.9% last year to 163.56 billion shillings ($1.61 billion), thanks to a slight increase in the number of visitors, its tourism minister said on Friday.</p>



<p>The East African nation, which relies on tourism as a major source of foreign exchange and jobs, had 2.05 million tourists last year, an increase of 1%, said Najib Balala.</p>



<p>An attack on a hotel and office complex in Nairobi last January, and a general slowdown in the global tourism business, were to blame for the low growth in arrival numbers, he said.</p>



<p>Along with agricultural exports and money sent home by Kenyans living abroad, tourism is one of the top foreign exchange earners.</p>



<p>Kenya has a variety of products, from beach holidays at the coast to Safaris in the Maasai Mara wildlife reserve, but it attracts fewer visitors than African competitors like South Africa due to frequent political upheavals and insurgent attacks.</p>



<p>Between 2012 and 2015, visitor numbers and tourism earnings fell after a spate of attacks claimed by Somalia’s al Qaeda-linked al Shabaab, which wants Nairobi to pull its troops out of Somalia.</p>



<p>A reduction in attacks in the years that followed allowed the sector to rebound.</p>



<p>($1 = 101.5000 Kenyan shillings)</p>



<p>Reporting by George Obulutsa; Editing by Duncan Miriri and Kim Coghill</p>


Kenya’s tourism earnings up 3.9%

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<p>Dubai-based independent hotel management company, Aleph Hospitality has opened the Best Western Plus Westlands hotel in Nairobi, marking the firm’s first operation in Kenya. Bani Haddad, Managing Director of Aleph Hospitality joins CNBC Africa for more.</p>


Dubai-based Aleph Hospitality sets up shop in Kenya

Dubai-based Aleph Hospitality sets up shop in Kenya, looks to expand Africa footprint

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<p>Today marks one year since the flagging off of the historic Nairobi to New York daily direct flight. During the launch, President Uhuru Kenyatta said the 15 hour flight to US will open up Kenya and the region to the world and boost the continent’s economic growth. To breakdown how much of an impact this flight has had thus far, Sebastian Mikosz, CEO of Kenya Airways joins CNBC Africa.</p>


What impact has Nairobi-New York direct flights had one year on?

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<p>Social media giant, Facebook has made headlines for backlash they received for allowing political ads that contain false claims to run on their platform. Here on the continent, the company recently announced the expansion of its third-party fact checking program to 10 more African countries and is currently hosting a workshop in Nairobi about community standards and content policies in Sub-Saharan Africa, but what does this mean and how does it work? Fadzai Madzingira, Public Policy Associate Manager for Content at Facebook joins CNBC Africa for more.</p>


Facebook tightens content policy with 3rd party fact-checking workshop in Nairobi

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<p>According to the World Bank, one in five youths in Kenya are unemployed. The issue has picked up steam with young people in the country taking to social media and the streets of Nairobi to protest the high unemployment numbers. For more on this, CNBC Africa&#8217;s Arnold Kwizera caught up with Principal Secretary for Youth, Julius Korir.</p>


How Kenya plans to tackle its youth unemployment crisis

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<p>About Ksh7.3 billion shillings worth USD$71.5 million were not returned during the demonetization of the 1,000 shilling old notes, according to an official from the Central Bank of Kenya (CBK). Patrick Njoroge, Governor of the Central Bank of Kenya, told journalists in Nairobi that the four-month phase-out of 1,000 shilling notes proceeded well and achieved its overall objective of removing money obtained from illegal activity from the economy. From Nairobi, Journalist, Joseph Bonyo joins CNBC Africa for more.</p>


What impact will demonetization of 1,000 shilling notes have on Kenya’s economy?

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<p>As energy sector players from across the region gear up for the Future Energy East Africa Conference (FEEAC) to take place in Nairobi next week, to take stock of Sub-Saharan Africa&#8217;s clean energy journey and what the future of energy in Africa looks like, CEO of East African Power (EAP), Dan Klink joins CNBC Africa for more.</p>


East African Power CEO Dan Klink on how Africa can fully embrace renewables

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<p>Research out of Viffa Consult in Nairobi has revealed that women entrepreneurs who lack formal education tend depend more on mobile credit, investment clubs, friends and relatives for funding as opposed to bank loans and personal savings which are more widely used by their educated counterparts, but with government and the banking sector focusing on more financial inclusion, what can be done to tip the scale? Victor Otieno, MD of Viffa Consult joins CNBC Africa for more.</p>


The role of formal education in boosting women’s  access to finance

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<p>Moody’s Investor Service assigned a provisional B1 rating to the Acorn Project, a special purpose, limited liability partnership established under the laws of Kenya to issue up to Ksh5 billion of fixed-rate, senior secured Notes due 2024 under a MTN programme to part fund the construction of student accommodation buildings and other transaction costs in Nairobi. Christopher Bredholt, Moody&#8217;s Vice President, Senior Credit Officer and Lead Analyst for the Issuer joins CNBC Africa for more.</p>


Nairobi

The cost of Kenya’s rising debt

2021 Global Fintech Rankings: Here’s how Africa fared

As coronavirus steals jobs, urban Kenyans look to their rural families

Op-Ed: Kenya – Bid launched to remove Ruto

Electric taxi-hailing service Ekorent expands presence in Kenya

Schneider Electric’s Olivier Jacquet on how to improve access to power in East Africa

Kenya’s CMA to tighten regulation of coffee sales as way to combat cartels

Wanjuhi Njoroge on how best Kenya’s education system can leverage labour market, equip youth with skills

Kenya’s tourism earnings up 3.9%

Dubai-based Aleph Hospitality sets up shop in Kenya, looks to expand Africa footprint

What impact has Nairobi-New York direct flights had one year on?

Facebook tightens content policy with 3rd party fact-checking workshop in Nairobi

How Kenya plans to tackle its youth unemployment crisis

What impact will demonetization of 1,000 shilling notes have on Kenya’s economy?

East African Power CEO Dan Klink on how Africa can fully embrace renewables

The role of formal education in boosting women’s access to finance

Moody’s gives greenlight for Kenya’s Acorn Project to build student accommodation

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Nairobi

The cost of Kenya’s rising debt

2021 Global Fintech Rankings: Here’s how Africa fared

As coronavirus steals jobs, urban Kenyans look to their rural families

Op-Ed: Kenya – Bid launched to remove Ruto

Electric taxi-hailing service Ekorent expands presence in Kenya

Schneider Electric’s Olivier Jacquet on how to improve access to power in East Africa

Kenya’s CMA to tighten regulation of coffee sales as way to combat cartels

Wanjuhi Njoroge on how best Kenya’s education system can leverage labour market, equip youth with skills

Kenya’s tourism earnings up 3.9%

Dubai-based Aleph Hospitality sets up shop in Kenya, looks to expand Africa footprint

What impact has Nairobi-New York direct flights had one year on?

Facebook tightens content policy with 3rd party fact-checking workshop in Nairobi

How Kenya plans to tackle its youth unemployment crisis

What impact will demonetization of 1,000 shilling notes have on Kenya’s economy?

East African Power CEO Dan Klink on how Africa can fully embrace renewables

The role of formal education in boosting women’s access to finance

Moody’s gives greenlight for Kenya’s Acorn Project to build student accommodation

News Tips

Advertise With Us

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