The Kenya Shilling is expected to come under intense pressure in the coming days as the economy returns to normal operation. Importers are set to increase demand for dollars, thereby putting pressure on the shilling.

According to the latest weekly bulletin from the Central Bank of Kenya(CBK), the Kenya Shilling weakened against major international and regional currencies during the week ending July 17th July, 2020. READ MORE..

British American Tobacco (BAT) Kenya has posted an eight per cent growth in profit in six months to Ksh.2.7 billion.

The half year growth in earnings from Ksh.2.5billion an year earlier is largely attributable to lower costs of operations and financing costs in the period.

The company’s costs of operations fell by 10.1 per cent to Ksh.6.8 billion as finance costs declined to Ksh.81 million in the period from Ksh.126 million last year.

The Central Bank of Kenya (CBK) has registered a step-up in the mopping of the shilling from the market in a week that saw the unit touch a new low of Ksh.107.5 against the US dollar.

As part of its open market operations (OMOs), CBK was in the repo market during the week to source for Ksh.55 billion as the reserve bank sought to rein in high liquidity in the market.

On Friday, the CBK accepted Ksh.22.6 billion out of similar bids by dealers in government securities at an average rate of 3.508 percent.

Kenya Revenue Authority (KRA) tax collections for the year ended June 30 were Ksh.354.1 billion off their original target as the tax man again missed the mark in expected revenue mobilisation.

According to an analysis of the National Treasury statements on actual revenues and net exchequer issues, actual tax receipts stood at Ksh.1.453 trillion against an original estimate of Ksh.1.807 trillion.

The 3rd Research Week 2020 is scheduled for October 12 -16, 2020. The annual event, hosted by the University of Nairobi, will feature 13 different conferences covering a diverse range of academic disciplines and is expected to bring together over 1,000 participants comprising researchers, scholars, students and practitioners from all over the world.

What has Africa learnt from the effects of COVID-19 on development and international relations? This is what the Institute for Diplomacy and International Studies (IDIS) in conjunction with the Horn Institute for Strategic Studies sought to understand when they hosted a webinar titled “Retreat to Nationalism in the 21st Century Globalization: Lessons for Africa from COVID-19.”

Prof. Attiya Waris’ book titled "Financing Africa" is a culmination of research undertaken over a ten year period. The book serves as a commentary on taxation and how taxpayers' money is used as well as a guide to understanding public finances in Africa. It creates an opportunity to widen the knowledge base in developing countries; specifically, on how Africa's fiscal systems were intended to and can subsequently be used to support development and alleviate poverty.  

uniRank has placed the University of Nairobi at position 7 in the 2020 African University Ranking. The ranking recognizes the most popular top 200 higher-education institutions in Africa.

Interestingly, the first 6 universities in the ranking are from South Africa led by the University of Pretoria. University of Cape Town and University of Witwatersrand are in position 2 and 3 respectively. In East Africa, Kenyatta University was ranked 16 followed by Makerere University at number 20.

Kittony had been serving on the board after being appointed as a director of the NSE on May 30, 2018.

Mr. Kittony holds both a Bachelor of Commerce and a Bachelor of Laws degree from the University of Nairobi and a Global Executive MBA from the United States International University (USIU).

“I am very honored and privileged to be appointed as the next Chairman of the leading Securities Exchange in East and Central Africa. I salute the outgoing Chairman and will build on his excellent stewardship,” Mr. Kittony said.

Corona effect?

Dr James Mwangi, Group Managing Director and CEO of Equity Group Holdings said the global COVID-19 pandemic has mutated into a global economic crisis, occasioned by a sudden standstill of economic activity as a result of the lockdown. “This has introduced unprecedented uncertainty within the global financial systems prompting us to adopt a conservative approach – fortifying our balance sheet and assuring ample liquidity to support our customers,” Dr Mwangi said.