Tag: Odhiambo Ramogi

South Sudan & Burundi face deadline over EAC annual payments

East African Community calls for sanctions on Burundi and South Sudan following the chronic defaulting of annual payments by the member states, resulting in liquidity challenges. By August 4, South Sudan owed the Community more than $24 million and Burundi $6.5 million. CNBC Africa's Fiona Muthoni spoke with Economic Analyst, Odhiambo Ramogi for more.

EAC: South Sudan & Burundi sanctioned for defaulting on their annual payments

The launch of a regional electronic cargo and driver tracking system which was scheduled to start today (13th August) as one of the measures aimed at preventing further spread of the COVID-19 pandemic has been postponed. Moreover, on June 30th, the East African Legislative Assembly passed a motion to censure South Sudan and Burundi for defaulting on their annual payments and it also recommended that the Council of Ministers take further action against the two countries. Economic Analyst, Odhiambo Ramogi joins CNBC Africa for more.

A challenging year for Kenyan banks amid the COVID-19 crisis

Last week, NCBA Group shut 14 of its branches in Kenya due to COVID-19, which has reduced business activities on extended state restrictions on mass gathering as it eyes cost savings. Moreover, I&M Holdings PLC has issued a cautionary announcement advising its shareholders of its plans to acquire 90 per cent of the ownership of Uganda’s Orient Bank Limited, which may affect the value of its shares. Economic Analyst, Odhiambo Ramogi joins CNBC Africa for more.

How COVID-19 has disrupted Kenya’s budget plans

In Kenya, the ‘Big 4’ Agenda projects have been allocated Ksh128.3 billion in the 2020/21 National Budget, a massive drop from Ksh450.9 billion allocated in last year’s budget. Moreover, according to President Uhuru Kenyatta, Kenya has delayed talks on a trade deal with the United States until a pan-African trade bloc comes into force. Odhiambo Ramogi, Economic Analyst joins CNBC Africa for more.

COVID-19: Kenya continues pipeline plan despite drop in oil prices

In Kenya diesel prices fell by the largest margin in 13 years on lower global crude prices. The prices would have fallen deeper were it not for the new levies imposed on fuel last month following changes to the laws that also introduced tax reliefs to protect the economy against the COVID-19 pandemic. Moreover, the country will continue with plans to build a $1.135 billion pipeline from Lokichar to Lamu to boost its crude oil exports despite the concern over falling prices of the commodity in the global market. Odhiambo Ramogi, Economic Analyst joins CNBC Africa for more.

Equity Bank eyes stake in DRC’s Banque Commerciale du Congo

Equity Bank is in talks to acquire a 66.5 per cent stake in a top bank in the Democratic Republic of Congo (DRC), Banque Commerciale du Congo. The Nairobi Securities Exchange-listed bank said it will pay $105 million in cash for the 625,354 shares owned by George Arthur Forrest family inclusive of dividends that the bank will declare after 1 January. Analyst, Odhiambo Ramogi joins CNBC Africa for more.

Kenya’s rank climbs five places in World Bank’s ease of doing business ranking

In the latest World Bank Ease of Doing Business report, Kenya improved five positions to 56 globally on attractiveness to investors up from 61 last year. To share on the reforms implemented this year and what to look out for in the future, Economic Analyst, Odhiambo Ramogi joins CNBC Africa.

Japan pledges $860mn in development aid for Kenya

Earlier this week, Japan will give Kenya nearly $860 million in concessional loans and grants for the construction of a bridge in Mombasa and other infrastructure projects to support an economic zone there. Economic Analyst Odhiambo Ramogi joins CNBC Africa for more.