
<p>NAIROBI (Reuters) &#8211; Kenya’s economy should grow an improved 6.3 percent in 2019, President Uhuru Kenyatta said on Thursday, citing an improved business environment and his government’s push to boost manufacturing, food production and access to housing. </p>



<p>Last year, growth was an estimated 6.1 percent, he said.</p>



<p>“We expect an even stronger growth &#8230; reflecting continued improvement in the business environment, momentum associated with execution of the Big Four Agenda, and sustained macroeconomic stability,” he told parliament.</p>



<p>The government also plans to boost output by setting up a credit guarantee scheme for small and medium businesses, he said in an annual state-of-the-nation address.</p>



<p>“We will be launching an SME Credit Guarantee Scheme in a few weeks, aimed at deepening their access to credit without being subjected to complex application procedures and collateral requirements,” Kenyatta said.</p>



<p>Small and medium businesses have been hardest hit since the government put a cap on commercial lending rates in late 2016.</p>



<p>At the time, lawmakers said they were concerned about high interest rates. But the cap led to a private credit squeeze, as banks said it forced them to cut back on high-risk loans.</p>



<p>With many Kenyans fed up of government corruption draining state coffers and distorting business and politics, Kenyatta reiterated a pledge to tackle graft.</p>



<p>“I must, however, caution that the pursuit of the corrupt will be undertaken strictly within the remits of the law – and not through vigilante justice and pitchfork protest,” he added.</p>



<p>The Directorate of Criminal Investigations is investigating what it said was fraudulent construction of two dams valued at 63 billion shillings ($626 million). Some payments were already made out despite the dams not being built.</p>



<p>The probe has seen three ministers, including the one in charge of finance, questioned by detectives.</p>



<p>They have all denied wrongdoing.</p>



<p>($1 = 100.6000 Kenyan shillings)</p>



<p>Additional reporting by Omar Mohammed; Editing by Andrew Cawthorne</p>


Kenya’s president Kenyatta forecasts 6.3 % economic growth in 2019, what you need to know

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<p>Despite its richness in energy resources, Africa is poor in energy supply with up to 620 million people still having no access to electricity. Pearl Uzokwe, Director of Governance and Sustainability at Sahara Group discusses the role of the private sector in driving up energy supply on the continent.</p>


Sahara Group’s Pearl Uzokwe on the role of the private sector in powering Africa

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<p>Globacom Limited is one of Nigeria&#8217;s most successful multinational telecommunications company. CNBC Africa caught up with Bella Disu, Executive Vice Chairman to understand plans and strategies the company has to contribute to Africa&#8217;s development.</p>


Bella Disu on Globacom’s plans for developing Africa

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<p>Kenya Association of Manufacturers will, from tomorrow, be hosting a 5-day Manufacturing Summit and Expo dubbed #Changamkafest2019 that is happening for the 3rd time. Job Wanjohi, Head of Policy at Kenya Association of Manufacturers joins CNBC Africa to discuss this and driving competitiveness for local manufacturers as well as closing the manufacturing gap through the Big 4 Agenda.</p>


KAM seek to strengthen SMEs in manufacturing

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<p>Rwanda Standard Board received $1 million funding from TradeMark East Africa in support of projects that will enhance food safety and trade. CNBC Africa’s Zwena Bachoo filed this report.</p>


Rwanda Standard Board secures $1 mn to enhance food safety, trade

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<p>PwC Kenya’s latest report ‘The values effect: PwC 2018 Family Business Survey’ shows that family businesses in Kenya have plans to grow over the next 5 years with 83 per cent of survey respondents remaining confident of their businesses growth potential. Joining CNBC Africa for more into the report is PwC Kenya&#8217;s Senior Manager Sunny Vikram.</p>


Kenyan family businesses optimistic on future growth – PwC Survey

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<p>For years, climate change seemed a distant reality for many Kenyans until the glaciers atop Mt Kenya started receding. At the One Planet Summit CNBC Africa&#8217;s Godfrey Mutizwa caught up with with Connect4Climate Youth Ambassador Dee Putsoa to discuss about the recently concluded Mount Kenya expedition to raise awareness on climate change impacts.</p>


Mount Kenya expedition raises awareness on climate change – Youth Ambassador explains

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<p>In 2016, The Flip Flopi Project built a fully functioning sail boat using only plastic trash and repurposed flip flops from the coasts and roadsides of Kenya. Now, they are calling for a full on plastic revolution. CNBC Africa spoke to the project leader Dipesh Pabari ,as he takes part in the One World Summit in Nairobi, Kenya,</p>


Makers of 100% plastic boat call for plastic revolution

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<p>The fourth session of the UN Environment Assembly happening in Kenya is expected to bring together over 4,700 delegates to discuss, ‘Innovative Solutions for Environmental Challenges and Sustainable Consumption and Production. CNBC Africa is joined by Gayle Schueller, Vice President and Chief Sustainability Officer at 3M for more on this.</p>


UNEA-4 delegates meet to discuss innovative solutions for SCP, environmental challenges

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<p>Kenyan President Uhuru Kenyatta has pledged his country will cover more of its land with trees in a bid to fight climate change. Even though Africa makes a mere 4 per cent of the world’s greenhouse gasses it is estimated that 65 per cent of Africans will suffer from climate change. Kenyatta believes it’s time for action. President Kenyatta was speaking at the One Planet Summit in Nairobi.</p>


Kenyan president pledges to fight climate change through tree planting

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<p>The World Bank Group together with the government of Kenya, France, and the United Nations are hosting the “One Planet Summit” which seeks to accelerate and focus attention on climate investments in line with the Paris Agreement objectives. The IFC has launched a report on the potential climate investments in cities for more CNBC Africa is joined by the IFC&#8217;s Vice President of Economics and Private Sector Development- Hans Peter Lankes.</p>


Kenya gears up for global climate change summit

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<p>CNBC Africa&#8217;s Kopano Gumbi spoke with Hasit Patel, COO of Ramco Group reveals the group&#8217;s plans to expand further in Kenya.</p>


Ramco Group plans to expand in Kenya

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<p>In the recent released DHL Global Connectedness Index, in Sub- Saharan Africa, Mauritius was the highest ranking country which featured in 40th position.</p>


Mauritius scores high marks in the DHL Global Connectedness Index

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<p>Rwanda launched the first public coding school that will offer courses in software programming, embedded systems and cyber security. The school is expected to foster the country’s ambition to become a regional ICT hub and knowledge-based economy. CNBC Africa’s Steven Muvunyi sat down with Dr. James Gashumba, Vice Chancellor of Rwanda Polytechnic.</p>


Rwanda opens first public coding school

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<p>President Paul Kagame on Tuesday interacted with over 20,000 residents of Nyamagabe, Nyaruguru, and Huye Districts in the Southern province as part of his Citizen Outreach programme. Top of the agenda for the program is to keep leaders accountable of their actions and attaining set target for community development. CNBC Africa&#8217;s Fiona Muthoni filed this report.</p>


President Kagame embarks on Citizen Outreach campaign

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<p>A workshop was held today in an effort to strengthen integrated reporting and disclosure practices among Rwandan companies. The workshop was hosted in collaboration with the Capital Market Authority and International Finance Corporation with the goal of building investor trust and attracting capital. Roman Zyla joins CNBC Africa for more.</p>


Rwandan companies train to strengthen disclosure practices

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<p>Member of Parliament Moses Kuria argues that the amendments to the banking act of 2016 so banks withdrawing from lending to the private sector and individuals and this might drive Kenya’s economy into recession. Seth Marks, Regional Director for Africa at Credit Info joins CNBC Africa for more.</p>


Kenya

Kenya’s president Kenyatta forecasts 6.3 % economic growth in 2019, what you need to know

Sahara Group’s Pearl Uzokwe on the role of the private sector in powering Africa

Bella Disu on Globacom’s plans for developing Africa

KAM seek to strengthen SMEs in manufacturing

Rwanda Standard Board secures $1 mn to enhance food safety, trade

Kenyan family businesses optimistic on future growth – PwC Survey

Mount Kenya expedition raises awareness on climate change – Youth Ambassador explains

Makers of 100% plastic boat call for plastic revolution

UNEA-4 delegates meet to discuss innovative solutions for SCP, environmental challenges

Kenyan president pledges to fight climate change through tree planting

Kenya gears up for global climate change summit

Ramco Group plans to expand in Kenya

Mauritius scores high marks in the DHL Global Connectedness Index

Rwanda opens first public coding school

President Kagame embarks on Citizen Outreach campaign

Rwandan companies train to strengthen disclosure practices

Kenya’s ratings caps have stifled the economy – Analyst

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Kenya

Kenya’s president Kenyatta forecasts 6.3 % economic growth in 2019, what you need to know

Sahara Group’s Pearl Uzokwe on the role of the private sector in powering Africa

Bella Disu on Globacom’s plans for developing Africa

KAM seek to strengthen SMEs in manufacturing

Rwanda Standard Board secures $1 mn to enhance food safety, trade

Kenyan family businesses optimistic on future growth – PwC Survey

Mount Kenya expedition raises awareness on climate change – Youth Ambassador explains

Makers of 100% plastic boat call for plastic revolution

UNEA-4 delegates meet to discuss innovative solutions for SCP, environmental challenges

Kenyan president pledges to fight climate change through tree planting

Kenya gears up for global climate change summit

Ramco Group plans to expand in Kenya

Mauritius scores high marks in the DHL Global Connectedness Index

Rwanda opens first public coding school

President Kagame embarks on Citizen Outreach campaign

Rwandan companies train to strengthen disclosure practices

Kenya’s ratings caps have stifled the economy – Analyst

News Tips

Advertise With Us

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