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Public Service Commission(PSC) to give advisory on how the staff that were seconded to the NMS will be brought back to the County Government. NMS contract to expire in three months to allow service delivery during transition. — Business Daily
Kenyan families will pay more than 1.75 times their household monthly income on school supplies such as uniforms, stationeries and bags, worsening the biting cost of living. — Business Daily
1/n RUTONOMICS: Promises Ruto made for his first 100 days: (Source: Business Daily) “Bottom-up is anchored on deliberately promoting investment and financial instruments targeting the millions who are unemployed, hustler enterprises, and the farmer groups,” - Ruto
2/n Establishment of agro-processing industries for farm inputs such as animal feeds and fertilizer. “The challenge of high cost of living can be dealt with by investing in agriculture, period. Explanations about Ukraine, I don’t know what, are tall tales,” - Ruto
3/n “We will establish MSME business development centres in every ward, and an industrial park and business incubation centre in every TVET institution,” - Ruto's manifesto
4/n “We will commit Sh50 billion a year to provide MSMEs with 100 per cent access to affordable finance through SACCOs, venture capital, equity funds and long-term debt for start-ups and growth-oriented SMEs.” - Ruto
5/n Ruto promised to end what he terms as “state capture” by establishing, within 30 days of his ascension to power, a quasi-judicial public inquiry to “unravel” the extent of alleged cronyism and make recommendations
6/n Universal health insurance. “We have committed to the people of Kenya that we will have universal health insurance that will enable every Kenyan to seek treatment in hospital and walk away without paying a penny,” - Ruto
7/n Reverse legal and administrative changes over the use of the standard gauge railway (SGR) Return major operations shifted to Naivasha and Nairobi to the Coast to end the economic deprivation facing local communities.
8/n Scaling back spending on mega roads, rail and energy projects, rein in public debt and pump more money into small businesses.
9/n Bridge the current teacher shortage gap within two financial years and review the current exam-based system of academic progression and introduce alternative entry criteria.
10/n He also promised to merge Higher Education Loans Board (HELB), Technical and Vocational Education Training (TVET) Funding Board and University Funding Board under a National Skill and Funding Council.
11/n To construct 100,000 kilometre fiber optic connectivity network and roll out fibre to counties, villages, schools, over 24,000 businesses and homes.
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CFOChat: Stanbic Bank's H1 2022 earnings with Dennis Musau
Stanbic bank half year profits rose 37% to Sh4.8 billion on increased interest and non-interest income.
Nation Media Group (NMG) half year profits dropped 13.11% to Sh247.8 million. The business is in decline.
I&M Bank half year profits rose 16% to Sh4.9 billion on increased interest and non-interest income.
Kakuzi half year profits rose 75% to Sh341.2 million on higher margins, more sales and lower costs.