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Kenya’s Leather Industry Exports On The Rise, Creating Jobs

Due  to an increase in exportation of Kenya’s leather products, the Kenya Leather Development Council said that it would put up tanneries in six towns including Garissa, Isinya, Mogotio, Wote and Kajiado at a cost of Sh150 million.  The cost will be covered by  the the Economic Stimulus Package funds and factories are expected to … Continue reading

Ministries, Agencies Withhold Billions Needed For Economic Growth, Blames Shortage Of Employees.

Key government departments failed to spend the billions of shillings allocated to them in the national budget leaving the economy without the financing steam to power growth. Ministries and agencies had only spent a total of Sh510.5 billion or 44 per cent of their allocations by the end of nine months of this financial year … Continue reading

Kenya Taxpayers Bail Out City Hall, KBC and TARDA

Kenyan tax payers were forced to come to the rescue of  The Nairobi City Council after it  defaulted on the Sh212 million loan it borrowed from the United States Agency for International Development (USAID). City Hall borrowed the Sh212 million from USAID in 1985 to be paid at an interest of 8.5 per cent per … Continue reading

Kenya Treasury’s Sh48bn headache.

  Third Quarter Economic and Budgetary Review indicate that the cumulative revenue collection as at the end of March amounted to Sh504 billion against the target of Sh552.5 billion representing a shortfall of Sh47.7 billion. The cumulative expenditure and net lending in the same period amounted to Sh646.7 billion, which is Sh152.3 billion below the … Continue reading

Are Kenya’s Youth Being Robbed?

  Established in  2006 with the sole purpose of reducing unemployment among the youth who account for over 61% of the unemployed in the country, the appropriation of funds within the Youth Enterprise Development Fund is now in question. The Kenya Union of Savings and Credit Co-operatives on Friday refuted claims that Sh150 million channeled … Continue reading

KenGen To Seek Investors For Gas-Fired Power Plant.Good or Bad idea?

Kenya’s electricity generating company, KenGen, plans to raise funds from private investors for a $686 million gas-fired power plant to run on imported liquefied natural gas (LNG), Managing Director Eddy Njoroge said on Friday.  KenGen, which relies largely on hydro power, said the plant would help meet growing demand for electricity and help prevent frequent … Continue reading

Al-Shabaab, Kidnappings and political Insecurity threaten Kenya’s Tourism

Kenya’s  Ministry of Tourism and the Kenya Tourist Board released statistics indicating a 0.5 per cent drop in the first quarter of 2012. The stats show a dip of 3.2% and 2.2% for the months of January and March respectively, However, there was  a rise of 4.3% in the month of February. The Minister for … Continue reading

Kenya’s AVL Launches Collateral Friendly Mobile-Money Loan Service

Private-lending firm AVL Capital with Flexus Systems have unveiled a mobile-phone loan service that works across all service providers in the country. Dubbed Pesa na Pesa, the SMS-based service requires registered users to send an SMS to a short code, 3105, with desired amount and once approved, borrowers can withdraw from an authorized agent within … Continue reading

Attorney-General Githu Muigai proposed amendments to the Kenya Copyright Act 2001

Kenya’s AG, Prof Muigai, has proposed amendments to the Kenya Copyright Act 2001 (No 12 of 2001) by inserting a new clause (30A) which now gives music producers the right to claim and equitably share remuneration for sound recordings and visual works among themselves. The proposed amendments will now provide the producers and performers  a legal … Continue reading

Kenya imports 1.3 Trillion while Exports range at 500 Billion

Kenya’s balance of trade isn’t looking good.  According to Economic Survey 2012 findings released on Tuesday by the Ministry of  Planning ,  Kenya’s value of imports grew by 38.9 per cent to Sh1.3 trillion from Sh947 billion in 2010. This is in comparison to exports that grew by 24.7 per cent to Sh511 billion in … Continue reading