IMF lowers Kenya’s economic forecastThe International Monetary Fund (IMF) has revised downwards the projection of Kenya’s economic growth this year to 5.6 per cent, reflecting a tough environment for most sectors.In its World Economic Outlook in April, the Washington-based institution had forecast the country’s economic growth at 5.8 per cent compared to 6.3 per cent in 2018. IMF joins other institutions, such as the World Bank and Treasury, which have all lowered the country’s economic outlook. The 6.3 per cent growth last year was the highest in over five years as Kenya recovered from a period of electioneering and drought. Kenya’s economy is also expected to take a hit from a slowing world economy, with the IMF forecasting a three per cent growth for the 2019 global GDP. This will be the global economy’s lowest level since 2008–09 and a 0.3 percentage point downgrade from IMF’s April 2019 World Economic Outlook.
"Other than low level of awareness about investment opportunities in Kenya, graft tends to put off many American investors,” he said. Kenya's ability to do more business with the US is hampered by low level of small enterprise development, he added. For More of This and Other Stories, Grab Your Copy of the Standard Newspaper. "Amcham is doing its best in terms of showcasing the country’s investment opportunities. However, Mr De Angelis said the US was committed to deepening its relationship with Kenya in to boost investment and trade.
Why you should invest in stocksThere are various options for investing your money. Other than that, when trading shares of rolling stocks, returns of between 10 per cent to 25 per cent are a common occurrence. A look at price charts of various stocks on the Nairobi Securities Exchange will readily provide the evidence. Thus, irrespective of income level, anyone can invest in stocks. The tricky part in stocks is knowing what stock(s) to choose, at what price to buy at and at what time to buy and sell.
In 2011, Ireland kicked off their World Cup campaign in New Plymouth with a stuttering 22-10 win over the USA. It was a tough first international start for Conor Murray, who was playing alongside Johnny Sexton for the first time. The reigning world champions stand between Ireland and a first ever World Cup semi-final. For all he has achieved in the his career, Saturday’s meeting in Tokyo will also mark Sexton’s first start in a World Cup knock-out match. However against the All Blacks, a side undefeated in their past 17 World Cup games, Murray and Sexton will have to hit new heights in their 56th outing together.
October 16, 2019 21:00 UTC
Senate told Budget boss in a spot over illegal approval of fundsSteven Masha Acting Controller of Budget when he appeared before the Senate Ad-Hoc Committee on the Medical Leasing Equipment at County Hall, Nairobi on Tuesday, October 15, 2019. [Boniface Okendo, Standard]The Acting Controller of Budget (CoB) was on Tuesday pressed by MPs to explain why his office ‘irregularly’ authorised the payment of Sh25.9 billion for a medical equipment leasing programme. A Senate ad hoc committee grilled Stephen Masha on how his office approved the payments for the Sh63 billion Medical Equipment Services (MES) programme without any proof of agreements between the national and county governments. According to the senators, the MES programme was done without an agreement which meant the CoB had failed in its oversight duties. Cara provides that the conditional grant for leasing of medical equipment is included in the budget estimates of the national government subject to intergovernmental agreement between the national and county governments,” Masha said.
BBI report should catalyse genuine national dialogueBuilding Bridges Initiative chairman Yusuf Haji (centre), Vice-Chair Adams Oloo (right) and the task force secretary Paul Mwangi (left) address the media in Nairobi on July 15, 2019. SEE ALSO :Kamanda hails Uhuru, Raila truce and supports BBI teamThe BBI process is a public interest and public-funded initiative. It is for these reasons that the unveiling of the BBI report ought to capture the spirit and letter of governance reforms. The report should ultimately catalyse an all-inclusive, issue-based, people-centered and structured national dialogue governance reforms process. The release of the BBI report must catalyse the governance reform process and President Kenyatta must be ready to go the whole hog leading the implementation before leaving the office.
Senators: Probe county officials over funds useSenate County Public Accounts and Investment Committee(CPAIC) Chairman Moses Kajwang(R) and Millicent Omanga where the committee issued a warrant of arrest of Machakos Governor Alfred Mutua for failure to appeared before the Committee on audit queries at Parliament on September 30, 2019. [Boniface Okendo, Standard]Senators have recommended to the Director of Public Prosecutions and anti-graft commission to investigate various officials from 20 county governments.Senate County Public Accounts and Investment Committee (CPAIC) in its report for the financial year 2014-2015, revealed that most county executives did not adhere to their approved budgets. SEE ALSO :Senate targets counties with caps on construction costsIn particular, the committee recommends investigation and prosecution of West Pokot County officials over the construction of an office block for the Ministry of Agriculture, Livestock, and Fisheries. For More of This and Other Stories, Grab Your Copy of the Standard Newspaper. The committee in its observation, noted that the own source revenue collected was banked in commercial bank accounts other than the designated revenue collection accounts – County Revenue Funds (CRF) – and used at source.
While this is the case, many parents have now resolved to use their children to make ends meet. The Sustainable Development Goals adopted by world leaders in 2015 provide four main key policies related to child labour and eradicating it. First, National Policy on the Elimination of Child Labor (2016) which proposes strategies to prevent, identify, withdraw, rehabilitate and reintegrate children involved in child labour. The National Plan of Action against Sexual Exploitation of Children in Kenya (2013–17) that aims to prevent, protect, and reintegrate child victims of commercial sexual exploitation. Third, Framework for the National Child Protection System for Kenya (2011) describes the laws and policies that protect children from violence and exploitation and the roles of the government in this.
October 16, 2019 21:00 UTC
And feeling better and better each day," Bongo said in an interview published on Wednesday in the pro-government daily, l'Union. Bongo said he was "fiercely determined" to push ahead with a campaign against graft. "Mistakes were made in the past, but they won't be able to be made again in the future," Bongo said. During his months-long absence abroad for treatment, speculation over Bongo's fitness surged and the army quashed a brief attempted coup. There is widespread nostalgia for the free-spending reign of Bongo's father, Omar Bongo Ondimba, who ruled the country for 42 years until his death in 2009, when he was succeeded by his son.
October 16, 2019 20:37 UTC
According to Namwamba, nothing has changed: “Somalia -Kenya ties are steeped in a history of shared destiny. For the past several months, Kenya and Somalia have been sparring over maritime border due to oil in the area. Because of the negative image that the international community has of the state of affairs in Africa, Kenya has even more opportunity to show that this is not the case. The imposition of culturally inappropriate practices and forms of governance will not last more than a few years at best. That’s why I support Uhuru’s decision to keep the maritime row separate from the full scope of our diplomatic relations.
October 16, 2019 19:52 UTC
The consequences of civilians and companies not paying taxes in any country are dire. TAX REVENUEIn developing countries, such as Kenya, collecting tax revenue is especially important to development initiatives. But despite this, sometimes it seems like in addition to football and running being Kenya’s most beloved sports, tax avoidance is also a national sport. The Organisation for Economic Cooperation and Development (OECD) estimates that during the 2018-2019 financial year, it is possible that Kenya lost up to Sh144 billion in tax revenue due to tax avoidance. TAX AVOIDANCEGlobal partnerships are key to cracking down on tax avoidance because it is a truly global problem.
October 16, 2019 19:51 UTC
An alumnus of Nairobi University, Meles was in good cheer, and fittingly bow-tied. But one of the works in progress he talks of, that caught me by surprise, was a soon-to-be-opened One Stop Border Point (OSBP) at Kenya-Ethiopia’s Moyale border. It’s uncommon to have OSBPs at border points between countries that are not part of an economic community. Perhaps the only one in Africa is the Rubavu border between Rwanda and the Democratic Republic of Congo. As I left, I remembered that a visit to an embassy of a powerful nation in Nairobi, where photos were taken too.
Post-Independent Kenya has been bedevilled by incommensurate levels of development that have seen people in the marginalised largely Muslim northern frontier district get the short end of the stick. Let us look at China’s Xinjiang Autonomous Region, a home to more than 25 million Chinese of different ethnic and religious backgrounds. HUGE PROGRESSSince the founding of new China, Xinjiang has witnessed profound changes and achieved huge progress. Next year, Xinjiang will join other parts of China in reaching the goal of eliminating poverty. Like China, Kenya can ensure that hitherto marginalised areas are transformed into income-generating areas enjoying economic prosperity and religious and cultural freedoms.
MARGINALISED REGIONSHitherto marginalised regions like Garissa enjoy an array of infrastructure, like hospitals and roads, for the first time. PRIMARY UNITSA major proposal in the Bill is turning the 1,450 wards into the primary units of administration and development. The themes of the Punguza Mizigo Bill are reduction of wastage, inclusivity, development at the grassroots and accountability. For universal ownership and support, a proposal seeking fundamental constitutional changes — like the Punguza Mizigo Bill — cannot avoid a democratic method. Or how would all these suggestions be evaluated rationally to avoid ending up with a mishmash of a constitution?
By EUNICE VICTORIAMore by this AuthorThe World Mental Health Awareness Month, in October, aims to set the record straight on Attention Deficit Hyperactivity Disorder (ADHD) — formally, Attention Deficit Disorder (ADD). According to ADDitude Magazine, the neurodevelopmental condition affects the brains’ self-management system and characterised by impulsivity, hyperactivity and hyper focus. Experts say ‘attention deficit’ is a misleading name and ‘attention deregulation’ may be the real description of ADHD. Most of them, however, struggle with anxiety and depression and some have comorbidities such as bipolar disorder and, in worst cases, end up becoming suicidal. MENTAL ILLNESSSociety should ensure such individuals feel catered for, avoid stigmatising such people and embrace them and their capabilities.