HIV/Aids, Covid-19: Africa’s place in global response is at the table

For Africa, the economic costs of the Covid-19 pandemic are high. PHOTO | AFP

Summary

• Covid-19 and Aids are colliding epidemics, and, in many countries in the eastern and southern African region, sexual and gender-based violence is a third and silent triplet.

KCB grosses $10b in assets, eyes buyouts in DRC, Ethiopia

KCB currently operates in six countries and runs a representative office in Ethiopia. PHOTO | FILE | NMG

Summary

• Last week, KCB moved to strengthen its banking business in Rwanda and Tanzania by acquiring Banque Populaire du Rwanda Plc (BPR) and African Banking Corporation Tanzania (BancABC) currently owned by the Atlas Mara Ltd (ATMA).

By JAMES ANYANZWA

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UK-Kenya trade pact awaits approval from EAC Council of Ministers

The meeting of EAC Sectoral Council of the Ministers of Trade, Industry, Finance and Investment will also discuss non-tariff barriers, customs and budgets. PHOTO | FILE | NMG

Summary

• Kenya is pegging its hopes on Article 37 of the EAC Customs Union Protocol, which allows partner states to separately conclude or amend trade agreements with foreign countries provided the terms do not conflict with the provisions of the Protocol.

By JAMES ANYANZWA

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Kenya denies Somalia's accusations after envoy forced out

Somali President Mohamed Farmaajo and Kenyan President Uhuru Kenyatta at a past press conference in Nairobi. PHOTO | FILE | NMG

Summary

• On Sunday, Somalia summoned its ambassador to Nairobi, Mohamud Ahmed Nur ‘Tarzan’, for “consultations” after accusing Kenya of interference.
• Mogadishu also ordered Kenya’s Ambassador to Somalia Lucas Tumbo to return to Nairobi. The EastAfrican learnt that the announcement was made after Mr Nur had already arrived in Mogadishu.

Africa launches largest Covid treatment clinical trial

A medical worker injects a man with the clinical trial for a potential vaccine against Covid-19 at the Baragwanath hospital in Soweto, South Africa, on June 24 ,2020. Africa has launched a large clinical trial that aims to identify treatment for mild and moderate cases of Covid-19. PHOTO | SIPHIWE SIBEKO | POOL | AFP

Summary

• The clinical trial aims to identify a treatment or two treatments that could be used to treat mild and moderate cases of Covid-19, to stop the disease from getting more serious.

By ELIZABETH MERAB

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Treasury eyes rich donors to ease rising debt burden

The National Treasury building in Nairobi. FILE PHOTO | NMG

By OTIATO GUGUYU
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Summary

• The country will have to appeal to rich organisations for either cheap credit or free grants to finance Kenya’s budget.
• Kenya wants to avoid raising more debt from overseas capital markets.
• Generally, Kenya has been overlooked by donors since it attained middle-income status in 2014 forcing the country to turn to Eurobond and syndicated loans and bilateral lenders like China.

Kenya protests expulsion of Somalia envoy

Somali President Mohamed Farmaajo and Kenyan President Uhuru Kenyatta at a past press conference in Nairobi. PHOTO | FILE | NMG

By AGGREY MUTAMBO
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By ABDULKADIR KHALIF
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Summary

• Kenya suggests the new accusation was made to distract Somalia from the electoral programme, as well as other challenges it faces.
• This is not the first time there has been tension between Mogadishu and Nairobi. Last year, Kenya recalled its ambassador after Mogadishu decided to auction oil and gas exploration blocks at the centre of a maritime territorial dispute.

Nairobi Business Ventures shares back on NSE after Sh83m

The K-Shoe shop along Kenyatta Avenue in Nairobi on March 28, 2016. FILE PHOTO | SALATON NJAU | NMG

By PATRICK ALUSHULA
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Summary

• Shares had been suspended from trading to allow for the conclusion of a Sh83 billion buyout deal by Dubai-based Delta International FZE.

Banks pay lowest return on savings in four years

Kenya Bankers Association chief executive Habil Olaka. PHOTO | NMG

By TIMOTHY ODINGA
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Summary

• Data shows that the average return on savings has slipped to the lowest point since August 2016 when it was recorded at 1.68 per cent.
• Ordinarily, the savings rate covers for inflation. However, the rate has been lower than the inflation since 2017, meaning the real value of cash saved is being eroded over time.

Kenya gets 2-year extension of Comesa sugar imports cushion

Sugar at Carrefour Mega on Uhuru Highway, Nairobi. PHOTO | DENNIS ONSONGO | NMG

By GERALD ANDAE
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Summary

• The arrangement limiting imports was due to expire at the end of next February.
• Kenya is struggling to improve output due to relatively high production costs and loss-making sugar factories, which produce  below the annual consumption.

Defamation increasing at the workplace

Reports of misconduct, such as theft, assault, or abuse of others, can raise the scepter of defamation claims if the employer does not manage the communications. PHOTO | SHUTTERSTOCK

By OSCAR ONYANGO
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Summary

• Freedom of expression, which is frequently invoked to defend defamatory statements made against a third party, is not without limits, especially in an employment context.

Customer experience lessons of year 2020

Customer experience has always been a crucial differentiator for business, but in 2020, it became a matter of survival. PHOTO | SHUTTERSTOCK

By ANDREW BOURNE
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Summary

• Even with hopes of a successful Covid-19 vaccine on the horizon, as businesses return to brick-and-mortar stores, a few changes are here to stay.

North Rift embraces fish farming to boost incomes

Uasin Gishu County agriculture executive Samuel Yego (centre) eats fish at Kapnos, Sergoit during a fish farming campaign on November 13, 2020. PHOTO | JARED NYATAYA | NMG

By WYCLIFF KIPSANG
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By Stanley Kimuge
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Summary

• According to Uasin Gishu County agriculture executive Samuel Yego, the current fish consumption stands at 82 tonnes annually, most of which is imported from neighbouring countries like Uganda.
• The county is providing 470,000 subsidised fingerlings this year to shore up local fish production in the 600 fish ponds and dams across the county.
• West Pokot County government has also embraced fish farming and it has introduced fingerlings at Turkwel dam. The county is banking on the project to change livelihoods in the region.

The difference between trading and investing

Even as the market offers opportunities for both traders and stock investors, it is important to keep in mind the key difference between trading and investment. FILE PHOTO | NMG

By RUFAS KAMAU
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Summary

• Trading is the act of participating in the financial markets to buy or sell financial securities for short-term gains. Traders rely on technical analysis, market sentiment, and macroeconomic factors to book quick profits mainly driven by price volatility.
• On the other hand, investing is the act of buying securities or other tradable assets with the intent of earning long-term returns. Unlike trading, investors seek to benefit from long-term growth in share prices.

Current account deficit narrows on inflows boost

Kenya is a net import of goods, spending on imports more than twice the export earnings. FILE PHOTO | NMG

By CHARLES MWANIKI
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By ELIZABETH KIVUVA
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Summary

• Central Bank of Kenya data shows that the current account deficit as a percentage of gross domestic product (GDP) stood at 4.9 per cent by the end of October, to 5.3 per cent at the end of October 2019.
• It also narrowed compared to the end of September, when the deficit stood at five per cent.
• Kenya is a net import of goods, spending on imports more than twice the export earnings. A fall in the import bill, therefore, has a big impact on the current account.