Business
We all know someone, of someone, or we are that someone who has been on…
Kenya’s Transport Minister Kipchumba Murkomen posted two 2014 loan contracts between Kenya and the Exim Bank of…
Unlike super petrol, diesel and kerosene, the price of LPG is not regulated.
Back in October 2007, Kenya amended the Scrap Metal Act of 1959 abolishing the requirement for a licence for one to deal in scrap metal.
According to the treasury, the increase in public debt is attributable to external loan disbursements, exchange rate fluctuations, and an uptake of domestic debt. And although the increasing debt has raised alarm, instead of triggering triage from the government side, the response has been to borrow some more.
The festive season is always a stir-up of activity, over-the-top Christmas decorations, upcountry travels, lots…
While it might be unrealistic to require everyone to understand the deeper workings of finance, basic working knowledge is becoming imperative. The government, too, has to come up with regulations that safeguard citizens’ financial wellbeing in this cutthroat lending industry. Financial literacy should also be taught in schools, right from primary school. A healthy economy will require financially savvy citizens.
It goes without saying that development institutions and aid agencies are here to stay, and their business is to keep loaning and giving grants. This will carry on despite the fact that loans and grants may not be used for the intended purposes. At the same time, African governments will continue insisting on their financial distress in perpetuity, as even those led by autocrats continue to receiving loans and grants. And much as national debt in and of itself is not a terrible idea, Kenya and others like her will continue struggling to breathe, until a radical fiscal shift happens.
In addition to the economic factors, the government of Kenya previously paid keen attention to the Lake Victoria resource. Policies such as the ban on fishing activities between April and August each year allowed the lake to restock, since this is usually the breeding period. There were even zones where fishing activities were prohibited, like river mouths, which are fish breeding areas. The government also regulated the kind of fishing gears used.
