As of June this year, our public debt was 6.6 trillion shillings. Each Kenyan citizen, including those born now, owes creditors at least 139,000 shillings due to public debt. So what does it mean when the government keeps getting loans? Is Kenya on the verge of a debt distress? Our latest feature, #KenyasDebtCycle digs deep into these questions seeking answers and highlighting how the appetite for foreign debt to finance infrastructure has devastated various sectors in the country.
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.
A feature on police brutality in Kenya since the COVID-19 curfew.
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.
The 2017 electoral period may have ended, but the bitter undertones of tribalism still swim beneath the skin of millions, in a country that is, let's face it, deeply divided.
The Elephant in conversation with Celeste Wamiru - 'Celeste' from Kenya, Alaa Satir an Editorial Cartoonist and activist from Sudan, Godfrey Mwapembwa - 'Gado' from East Africa and Jonathan Shapiro - 'Zapiro' from South Africa.
Dr. Ato Kwame Onoma is Research Director, Council for the Development of Social Science Research in Africa (CODESRIA).
Rahma Hersi is an Islamic finance lawyer and advocate for economic justice in Africa. She is Head of Africa of Gateway Global LLP a global professional services firm devoted to the Islamic economy and its underlying principles.