The drivers of inflation during the COVID-19 pandemic period resulted from demand-pull inflation, cost-push inflation and money supply.
Twenty-four Kenyan financial institutions were named in the reports as either beneficiaries’ banks or banks through which companies and individuals made suspicious payments from countries that include the United Arab Emirates, Nigeria, the United Kingdom, British Virgin Islands and China.
Local banks are seeing a growing percentage of their borrowers falling behind or ceasing making payments on their loans. This is making it increasingly difficult for these lenders to issue new loans at a time when struggling businesses need all the help they can get.
If the new regulations by the Central Bank of Kenya put microfinance institutions under stress, low-income households’ will be unable to access credit, and their ability to maintain livelihoods will be affected.
For households which are going to be devastated by these economic realities, the government of Kenya needs to put in place adequate safety nets to assure food security and support food producers.
While Cash transfers are considered a better way to reach the poor who are in dire need during environmental shocks or as climate change creates ever-harsher conditions funds can still be diverted and embezzled all along the entire cash transfer chain, and the scale and speed of these programmes will intensify the corruption risks involved.
The full extent of the impact of the coronavirus crisis in Nairobi low-income areas is yet to be seen but as Juliet Atellah analyses, it will be important to track.
Using mathematical modelling, Professor Waititu simulates the progress of the coronavirus outbreak.
If things continue as they are, 2020 will be one of the deadliest years on record for the police. By 1st June 2020, 95 people had been killed by them.
The month of May is dedicated to preventing and ending teenage pregnancies worldwide. But as the month comes to an end, Kenya is still not close to achieving this goal.