Before 2008, only South Africa and Seychelles had issued Eurobonds but over the next decade, 21 sub-Saharan African countries including Kenya had had more than one-dollar loan
The IMF in a bid to direct money printed in Western capitals to Africa to compensate for the zero interest rates created a debt bubble which now threatens to destroy East Africa’s largest economy.
The consensus to force bank mergers also comes at a time Kenyan bank, especially small ones are facing vulnerabilities from higher interest rates for longer with a record number of lenders tapping into the regulators emergency liquidity.
Banned in Europe for its toxic effects, Chlorpyrifos, fenitrothion, and malathion—are broad-spectrum organophosphates, widely used pesticides sometimes referred to as “junior-strength nerve agents” because of their kinship to Sarin gas.
In a generation an educated youthful population who number two for every child and pensioner delivers an economic boom since more people are economically active than dependents, and this builds up enough savings to reduce the cost of credit.
A memory, sometimes two, per candle light as the National Empowerment of People Living with HIV in Kenya- NEPHAK met last week to remember their heroes, their spouses, their children, parents and friends lost to the worlds forgotten pandemic; AIDS.
Equity Bank's interest expenses on customer deposits almost doubled from Kes5 billion to Kes9.5 billion signaling the challenge facing lenders as depositors become more aware of the value of their money.
The vinyl had been replaced by the tape, the tape by the CD, by the flashdisk, memory stick, now everything's in the cloud. What chance did they have against virtual storage, but some few eccentrics and lost souls.
But this helplessness was weird. The Capital Markets Authority, working with the Communication Commission of Kenya (CCK) together with the Central Bank of Kenya had the capacity of closing down payment channels for unlicensed brokers.