Category: BUSINESS

Kenya’s economy is expected to remain subdued in 2023, growing at a projected 5%, pulled down by a persistent rise in commodity prices, global events and a high risk of debt distress.
However, there is an opportunity for the economy to register a remarkable upward trend if the government focuses more on fiscal consolidation efforts that include cutting back on non-priority expenditures to increase investment and help tame runaway inflation.
The findings were revealed in a report titled Macro-Fiscal Analytic Snapshot 2022/23, released by the Institute of Public Finance (IPF) in collaboration with the Oxford Policy Management (OPM).
The report also indicates that the deferment of fiscal consolidation in 2020 and 2021 made it difficult for the country to attain the necessary economic stability and resulted in the move from “medium: to “high risk” of debt distress.
Speaking during the official launch of the report, James Muraguri, the Chief Executive Officer of IPF noted that while there have been efforts by the current government to tighten its fiscal policy, more needs to be done in terms of cushioning Kenyans against the runaway inflation, effects of the Russian-Ukraine war and the depreciating value of the Kenyan shilling against the US Dollar.
“The last two years saw the government set revenue and fiscal deficit targets that were overly ambitious. With limited buffers against external shocks, the government is finding itself in a tight spot as it tries to navigate the global tightening of the monetary policy and rising debt interest payments. With this in mind, we expect a change in policy direction focusing more on fiscal policy coordination to address surging price levels, cushion citizens facing hunger and starvation and the successful distribution of subsidized fertilizer during the upcoming long rains,” Mr. Muraguri said.
On donor support, the report notes that it has been on a fluctuating trend between 2016 and 2020. While there was an increase in total Official development assistance (ODA) disbursement in the years 2017, 2019, and 2020, of 12%, 21%, and 24%, respectively, the increase was because of expanded assistance to the education sector, health sector, WASH, production, and the humanitarian sector. However, there has been a decline in support for the economic infrastructure and services sector post-pandemic, partly because of a change in commitment from the financing partners.
Toward this end, there is a need for the government to shift from donor reliance and to develop a domestic resource mobilisation strategy to bridge the budget gaps currently being witnessed. Lower borrowing should also create space for private sector credit and higher investment in health, agriculture and education sectors which are critical pillars for long-term economic growth.
The Institute of Public Finance (IPF) also reckons that some of the key focus areas likely to shape economic performance during the current budget cycle include; The need to ease fiscal pressure through budgetary consolidation, Harmonisation of revenue measures, Level of debt distress, Support to the agriculture sector, Reorganization of the health budgets as well as the performance of the County Governments.
“Our projections point to some pain for the local Mwananchi especially in the shorter term as the government continues to implement its macro-stability agenda. Sustained poverty reduction and growth over the next few years is possible if the government makes good its intentions to support the manufacturing and export sectors,” Mr. Muraguri added.

With several lenders joining the market day by day, Mwananchi Credit stands out as one of the most trusted lenders in the country.
The Times Online had a one-on-one chat with the General Manager of Mwananchi Credit Gitonga Muriithi.
“We are among the leading lenders extending credit facilities to uplift our clients life in various ways. We offer logbook loans and finance those clients who wish to acquire assets like a new car, land or any other property. We also offer import financing for those traders who import various goods. Another key aspect that we offer us check off loans for both those in government as well as those in the private sector. Our loans has the most attractive interest rates and we also offer cheque discounting, weekend loans and emergency loans,” he said.
Mwananchi Credit is an award winner which is evident in the neatly organised office at Ecobank Towers 10th floor. Mr. Gitonga Muriithi shares with us the secret to success:
‘Our secret to success is simple: customer satisfaction which is anchored in open and transparent transactions. We always bank on customer experience so as to enable us better our services,” Mr Gitonga added.
Mwananchi Credit continues to come up with tailor made solutions for its more than 4,000 clients. Mr Gitonga says a product to suit all Hustlers is in the pipeline.
“We are coming up with a product to uplift the lowly so that they can be uplifted and we also assist with advisory. This is why very soon we shall launch something to support the Hustler,” he said.

To prove how caring Mwananchi Credit is, they are now offering clients loans to enable them with school fees.
‘we have more than 500 applications and we have already processed 300 of them to enable smooth learning,” Gitonga alluded.
Mwananchi Credit targets a 45% growth this year.

IGRTC Provides Platform to Enhance Devolution
County secretaries the engine behind the success of devolution at county level.
Successful implementation of devolved government is at the core of Kenya’s quest for development and at the heart of Kenya’s progressive socio-economic transformation. The IGRTC seeks to provide a platform for an enabling environment and institutional cooperation for the country as a whole to reap devolution dividends.

In line with the Intergovernmental Relations Act of 2012, IGRTC is required to convene a meeting of the forty-seven County Secretaries within thirty days preceding every Summit meeting. Today, IGRTC begun a two-day meeting with County Secretaries as a statutory meeting to deliberate on the proposed Summit Agenda and review progress on intergovernmental matters affecting service delivery.

In his opening Remarks, IGRTC chair Kithinji Kiragu underscored the vital role that county Secretaries play in steering counties towards service delivery. He called on them to walk with IGRTC as we seek to better delivery by both levels of Government to citizens. He said IGRTC Is currently carrying a study on the status of Devolution and intergovernmental relations and that the forum was key to provide inputs to the proposed Summit Agenda.

The 6th County Secretary Meeting at Kenya School of Government brings together all county Secretaries to bond, share knowledge and give reports on Transition. This is in compliance and the spirt of the IGR Act, 2012. They will also elect the forum’s leadership hand in problem solving, appreciate their interface role and linkages they play in. respective counties.

The chairman says the county secretaries are Key to implantation of devolution and already there are gains that we must appreciate as a country as we try to fix the failures. 10 years down we must say there are functioning county government that are discharging services to our citizens from the global perspective this remains our success story and also calls for the strengthening of the intergovernmental relationships that will go a long way in enhancing devolution.

Liverson Mghendi County Secretary Taita Taveta County hailed the Intergovernmental technical committee for addressing the intergovernmental conflicts that have been seen as a threat to devolution saying Taita Taveta county is one of the entity that has registered a dispute that is being handled by the committee and believes that once solved will enable the two government to work together in harmony but not as competing entities.
Amy Ruria County secretary Embu county says the forum is also a benchmarking exercise for the new county secretaries who have were appointed recently as the engine behind the running of county activities it’s important to for them to understand the relationship between the county and national government as they prepare for the net summit meeting agenda.
The forum was attended by County Secretaries, IGRTC Members led by Chair Kithinji Kiragu, John Burugu, Saadia Kontoma, Linet Mavu, John Kimwela, Alice Mayaka & Wilson Pere, SRC, IGRTC Technical Staff led by CEO Agnes Ndwiga, partners including CPF and Jambo Pay.

Deputy President Rigathi Gachagua met members of the Kenya Tea Development Agency (KTDA) Board to discuss reforms in the tea subsector in Kenya. During the meeting at his Harambee House Annex office, Gachagua said the government is committed to improving the earnings of small-scale tea farmers across the country.

“Today, at the Harambee House Annex, I consulted with the Kenya Tea Development Agency (KTDA) Board led by the Chairman Mr. David Muni Ichoho, and the Group MD and CEO Mr. Wilson Muthaura on improving earnings for small-scale farmers,” said Gachagua on Twitter.

The DP said the meeting focused on the best strategies KTDA can adopt to eliminate cartels in the tea sector to ensure farmers get better pricing on their cash crops. “We discussed and agreed on a strategy of ensuring the small-scale tea farmer reaps more benefits from the cash crop, especially by eliminating cartels,” he revealed.

He added, “We have created a caucus to guide on how best to unchain the small-holder tea farmer from the grip of cartels.”

He said he had started spearheading needed reforms in the tea, coffee, and milk sectors as ordered by President William Ruto in a gazette notice reorganizing functions of his officers.

Gachagua added, during the Monday meeting, that he had already tasked the KTDA Board members to act expeditiously to ensure the reforms in the tea subsector are not derailed.

“I have reiterated the commitment of H.E. President Ruto, of ensuring that unscrupulous people in the value chain at the detriment of the farmer are eliminated,” he stated.

He assured the agency the Kenya Kwanza government will address any hurdles they face in terms of legislation, market among others in reforming tea as raised by the board members.

Innovate Now accelerator announces its seventh cohort of Assistive Technology innovators, with a focus on mobility for children and the elderly.

Global Disability Innovation Hub (GDI Hub) Innovate Now, Africa’s first Assistive Technology (AT) accelerator, has announced its seventh cohort of innovators, which includes nine ventures that provide digital AT or use digital to increase access to AT products or services. These innovations address the needs of users with hearing impairment, mobility issues, employment for people with disabilities, and easy access to assistive products, and cut across the health and wellness sectors.

The start-ups will benefit from a six-month programme which includes an immersive and inclusive innovation curriculum, venture building, user-centred research through the Live Labs network, expert mentorship, and investor linkages to accelerate the scaling of assistive technologies to market. The ventures will work towards pitching at a demo day scheduled for 22nd June 2023.

Below is the list of start-ups selected for this cohort:
Jobility, based in Egypt and founded by Hazem Salim, is a recruitment portal dedicated to assisting people with disabilities in finding meaningful employment opportunities. They offer a variety of resources to assist job seekers with disabilities in obtaining the assistance they require to succeed.

Dynalimb based in Nigeria and founded by Taiwo Akinsanya, is a patient-centered healthcare company focused on innovating medical devices used in the rehabilitation of patients with disabilities and amputations.

Deaftronics is co-founded by Tendekayi Katsiga and based in Botswana.

The company has developed the first solar powered and rechargeable hearing aid battery, which lasts for 3 years and can be used in 80% of hearing aids on the market today. The company also uses a smartphone application known as mDREET, which allows for hearing screening assessments.

Cure Bionics is a Tunisian-based company created by Mohamed Dhaouafi, creates and manufactures lightweight, personalized bionic arms for adults and children that are 3D printed, size-adjustable, and muscle-controlled.

Med Ezequiel is a South African company founded by Matshavha Pontsho that sells and distributes assistive devices to individuals and organizations via a physical and online platform.

Kijenzi is a Kenyan-based company founded by John Gersheson that uses localized digital manufacturing hubs to mass produce custom fit prosthetics and orthotics (P&O) in less than 24 hours for clinicians and clinics.

Alivio, is a UK-based company founded by Lucas Paes de Melo that manufactures low-cost lower limb prosthetics and solves the accessibility problem by providing services remotely at the patients’ convenience in Kenya. Alivio’s Social Franchising network of mobile clinics makes this possible.

Therastats is a web-based service management app for rehab and AT service providers working with communities facing high access barriers to health and disability services. We believe good data management can empower providers to get their services to the most vulnerable.

The digital AT and entrepreneurship project under Innovate Now is a partnership between Global Disability Innovation Hub (GDI Hub), ICT Norway, Norad and Kilimanjaro Blind Trust to recruit the next generation of cutting-edge disability innovators to drive Africa as a technology powerhouse. Innovate Now was established as part of the UK aid funded AT2030 programme which brings together global stakeholders to accelerate disability innovation through partnership and collaboration.

This new phase of Innovate Now is aimed at catalyzing philanthropic and private capital to further build, grow and increase investment for the assistive technology start-up ecosystem in Africa.

Brooke East Africa, an animal welfare charity, has raised the alarm about the illegal slaughter of donkeys in the country.

This comes even as the four donkey abattoirs situated in Nakuru, Baringo, Turkana, and Machakos counties remain closed after the ministry of agriculture in 2019 held on to the licenses following complaints from donkey-owning communities who claimed their donkeys were being stolen due to the trade.
According to Brooke East Africa’s regional director, Dr. Raphael Kinoti, the government should put a total ban on the sale of donkey skin due to the lack of donkey numbers to support the trade.

“Donkeys in Kenya are kept for work and not for slaughter; if we slaughter donkeys for their skins, livelihoods are lost,” Dr. Kinoti noted.

In three years, that is, 2016–18, the four donkey abattoirs slaughtered 301,977 donkeys, which at the time represented 15.4 percent of the country’s donkey population, according to the 2019 Kenya Agricultural and Livestock Research Organization report, The Status of Donkey Slaughter for Skin Trade and Its Implications on the Kenyan Economy.
In its report, KALRO further projected that Kenya would be slaughtering the last of her donkey species this year if the slaughter continued, down from 1,965,632 donkeys as of 2016, according to the Ministry of Agriculture and Livestock.

According to Dr. Kinoti, there is a need for the government to put up a policy that will speak for the African donkeys, highlighting the illegal donkey slaughter for their skins since donkeys bail out the donkey-owning hustlers.
“The incoming government is a hustler government, as donkeys help lots of hustlers, and slaughtering them for skins only subjects the donkey-owning hustler to abject poverty,” Dr. Kinoti added.

According to the KALRO report, on average, each working donkey earns an average of Ksh. 11,390 per month, with Dr. Kinoti saying that the government should allocate resources at the national and county levels to address welfare issues affecting donkeys so that they can continue generating revenues for the country.

Micro and Small Entreprises Authority Tharaka Nithi team in collaboration with Ministry of Agriculture and livestock and Solutions sacco held a capacity building meeting with the members of Mwonge Range Rabbit Farmers Association.

Rabbit farming is increasingly becoming one of the most lucrative agri-business in Kenya, gaining popularity because of its healthy white meat which has low fat content, cost efficient feeding requirements and high profit returns.

The members were trained on financial literacy, value addition and various marketing avenues for commercial production of rabbits in a bid to help them diversify their sources of income.

As the Launch of the Hustler fund happened and was officially initiated by the President of the Republic of Kenya, Several Saccos are seen to be formed so that they can be able to benefit from the second phase of the hustler fund.

Mr. Joseph alias Hon Joseph Msanii, interim chairperson, and Hon Joseph Msanii, President of Hustsummit Diaspora Sacco Society Ltd. state that the Sacco is like another Sacco that has brought together Kenyans from all walks of life.

Josephs adds that this is for hustlers across the country in 47 counties and the diaspora as an account and of itself has been proposed to come together. He said that the group is to come together and save together as they grow together.

“We also want to do so through saving, borrowing, and investing. Currently, we have a challenge in getting jobs. That’s why as we’ve come together as hustlers so that we can push ourselves and benefit from this government.”

Msanii stated that one can register with only Sh. 1000 saying that their shares are minimal as he was stating during their first AGM after they had one last year.

He however urged all Kenyans to come and walk together in the Summit to transform the lives of many across the country.

Msanii said that thieve well-structured leadership from the national to the county and sub County level. Leaders came from different counties of the country.

“So we have our network, have a very strong network of leadership from nation up to date county levels, for instance, we’ll be doing what we call county Summit. We have done with the Kiambu, have done with the Murang’a We’ve done the Meru recently, that first, we were in the City county because of this country’s AGM. We will be moving into each and every county.”

He concluded that they will open offices in counties. “Then we also are opening offices in the counties. Nairobi will be only our headquarters where the banker will be. But operations will be done in each and every county for example, in Vihiga we are going to open their Vihiga county and all the counties.”

The Sacco has no age limits as its open to all members above age 18. “It’s open to all ages, gender, and religion, we call mostly young people to join. I can tell you that. We don’t have enough employment because of the economy and, we believe that we cannot work in the government. But all of us can work with the government. So through this hustler at Summit SACCO we can save, borrow, then start your business or boost your ongoing business.”

Currently, the Sacco has more than 500 members he requested the President to continue pushing this initiative so that many people can benefit from this is one of the best initiatives since independence terming it a game changer.