Academic institutions worldwide have been forced to adapt in the midst of the COVID -19 pandemic. The global pandemic has placed higher education institutions on an unfamiliar path to balance the continuity of learning and the safety of students and staff. Worldwide academic institutions remain closed. The story is the same for Kenya.
But there is a change of tack, presumably arising from the rising cases of coronavirus infections and the slow pace of preparedness on the part of the institutions.
The new development adds to the pain that coronavirus has inflicted on education and other sectors of the economy.
It is unprecedented in the history of education to have all learning institutions, right from kindergarten to university, shut for nearly a year. The only time universities were closed for long – nine months – was after the abortive 1982 coup.
The Central Bank of Kenya Governor Dr Patrick Njoroge today held an online press briefing following the Monetary Policy Committee meeting on 29th July. The MPC retained the benchmark rate at 7 percent for the third straight month.READ MORE..
High domestic borrowing has marked the first month of the fiscal year 2020/21 with the government collecting Ksh275.935 billion through treasury bonds and bills. READ MORE..
Kenya has so far received Sh1.76 billion ($16.3 million) in aid from the United States meant to fight the coronavirus pandemic, a report by the US Department of State shows. READ MORE..
Safaricom has named its former CEO Michael Joseph as the new board chairman following the retirement of Nicholas Nganga. Joseph’s appointment will take effect on 1 August, taking over from Nicholas who led the board for the past 13 years. Michael Joseph is taking over the position with a mandate to improve customer sentiment, drive greater brand consideration and boost the company’s digital transformation agenda. READ MORE..
The Central Bank of Kenya Governor Dr Patrick Njoroge today held an online press briefing following the Monetary Policy Committee meeting on 29th July. The MPC retained the benchmark rate at 7 percent for the third straight month. READ MORE..
Kenya’s central bank has retained its benchmark rate at 7 per cent for the third consecutive month. CBK says that the package of policy measures implemented since March were having the intended effect on the economy, and will be augmented by the implementation of measures in the FY2020/21. READ MORE..
Commercial banks have continued to extend relief to borrowers with loan restructures to cushion against the pandemic hitting Ksh.844.4 billion in June.
The improvement of restructured loans from Ksh. 679.6billion in May is in line with the Central Bank of Kenya (CBK) emergency measures announced in Mid-March to shield borrowers from the economic turmoil arising from COVID-19.
The National Treasury has upped the ante in domestic borrowing as it now seeks Ksh.70 billion in August’s infrastructure bond sale.
The raised target in the bond sale from Ksh.60 billion sort in July’s bond sale is attributed to the government’s quest to filter in high investor appetite for Treasury securities amidst COVID-19 led volatility in riskier investment classes.
