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President William Ruto meeting with representatives of IMF at State House on November 13, 2023.

The National Treasury has detailed strategies Kenya will use in seeking external funding days after the World Bank and the International Monetary Fund (IMF) approved Ksh1.9 trillion in loans. 

In a statement, CS Njuguna Ndung'u detailed that the country would lean towards sourcing loans from multilateral agencies rather than taking commercial loans from banks. 

Njuguna added that the concessional loans from bodies such as the World Bank and IMF made more economic sense to the country owing to the terms and conditions for the credits offered.

Usually, concessional loans are offered at a lower interest rate in comparison to those offered by commercial banks.

 

PARLIAMENT OF KENYA

Borrowers are also given a longer grace period to repay the credit.

"In light of the uncertainty surrounding access to global bond markets, the government strategy has shifted to focus on seeking out concessional funding from the multilateral lenders like IMF and the World Bank and bilateral development partners, in addition to stepping up efforts to improve macroeconomic environment and carrying out the necessary structural reforms. 

"Kenya will continue its efforts to access commercial financing when favourable market conditions permit," read the statement in part.

On the other hand, the CS indicated that the government would continue implementing other strategies, such as enhanced revenue collection to ensure timely repayments of debts.

Revision of the budget with the aim of cutting unnecessary expenditure was also highlighted among the new fiscal measures

"As such, the fiscal deficit is projected to decline from 5.6 per cent of GDP in FY 2022/23 to 4.7 per cent of GDP in FY 2023/24 and further to below 4 per cent of GDP in FY 2024/25. 

"Despite the liquidity challenges Kenya is facing, the macroeconomic environment remains stable, with real GDP expanding by 5.4 per cent in the first half of 2023, primarily due to a robust recovery in the agriculture and services sectors," read the statement in part.

The strategies by the Treasury were unveiled after the World Bank announced that it would give Kenyans Ksh1.8 trillion ($12 billion) in phased credit disbursement in three years.

On the other hand, the IMF announced that the country would get a loan amounting to Ksh142.8 billion.

According to Ruto, the credit facilities will be used to boost the country's coffers and tame inflation and debt vulnerabilities.

As of September 2023, the country's debt portfolio, including the Eurobond set to mature next year, stood at Ksh10.58 trillion. Kenya is set to pay Ksh500 billion to service the Eurobond from December.  By Washington Mito, Kenyans.co.ke

 

JUBA, Nov. 21 (Xinhua) -- The government of South Sudan met with members of Sundan's civilian coalition, Forces of Freedom and Change, on Tuesday in an effort to push for a cessation of hostilities before the start of political negotiations aimed at ending the conflict that erupted on April 15.

Omar El Degeir, the leader of Sudan's Forces of Freedom and Change, emphasized the need for all political forces in Sudan to agree on democratic governance, a unified army, transitional justice and economic recovery through negotiation.

"We have to resolve problems through negotiations instead of bullets, artillery and warplanes," El Degeir told journalists after a consultative meeting with South Sudan officials in Juba, the capital of South Sudan.

Dhieu Mathok Diing Wol, the secretary general of the South Sudan mediation committee that brokered the signing of the 2020 Juba peace agreement between the Sudan transitional government and various opposition forces, said that South Sudan President Salva Kiir initiated consultations and meetings with Sudanese political and civil organizations aimed at resolving the conflict.

"It is important to have the warring parties, especially the Sudan Armed Forces (SAF) and the Rapid Support Forces (RSF), agree to a cessation of hostilities and a ceasefire, allowing the political process to begin," said Mathok, who is also the minister of investment.

During a two-day consultative meeting in Juba on Oct. 23-24, Sudan's Transitional Sovereign Council Deputy Chairman Malik Agar and members of various opposition parties endorsed Kiir to mediate between the warring factions.

Tut Gatluak, Kiir's advisor on national security affairs and chairperson of the South Sudan mediation committee, expressed concern about the ongoing fighting in neighboring Sudan, saying it directly impacts South Sudan's economy and exacerbates the already dire humanitarian situation.

"We are part of the Intergovernmental Authority on Development and the African Union, but Sudan's issues affect South Sudan the most. We need to join hands and help the country," Gatluak said.

South Sudan is hosting over 364,000 people who fled fighting between the SAF and RSF since April. - Xinhua

Photo: Xinhua / Mohamed Khidir

Despair and violence have taken over in Sudan. Recent discussions in Jeddah have not resulted in a ceasefire – quite the opposite. Patrick Youssef is regional director for Africa at the International Committee of the Red Cross. He has just returned from Sudan, where he met representatives of the government and of the Rapid Support Forces. As the humanitarian situation continues to deteriorate, he is sounding the alarm

Despair and violence have taken over in Sudan. Recent discussions in Jeddah have not resulted in a ceasefire – quite the opposite. Military activity is increasing in many parts of the country. A devastating humanitarian crisis is developing right in front of our eyes.

Non-stop, brutal, targeted attacks on civilians are among the main features of this war.

Our message is clear: these attacks must stop.

Weapons bring power. But that power imposes a responsibility on the warring parties – indeed, an obligation – to respect and protect the civilian population, as required by international humanitarian law.

This war has resulted in countless deaths and forced almost seven million people to flee the fighting. ICRC and Sudanese Red Crescent teams receive daily calls for help. Families are asking us to help them evacuate the sick, the wounded or members of their families, because they fear they will be arrested if they move on their own. Some report that members of their families have disappeared. Others describe desperate shortages of food and water. The price of a standard food basket has risen by 60% since April 2023, leaving some 20 million people facing acute food insecurity.

In Darfur, western Sudan, fighting has reached critical levels, affecting the populated areas of the main towns: Al Jeneina, Zalingei and Nyala. Military operations are seriously affecting the functioning of hospitals and depriving people of electricity and telecommunications.

Despite the dangers, we are making every effort to ensure that no-one is abandoned in the areas where we are operating. This week, we sent a surgical team and medical supplies to Al Jeneina University Hospital, where war-wounded patients are in urgent need of treatment.

We are constantly reminding all parties that they must allow the sick and injured to obtain medical care. In particular, this means refraining from harming people who are not participating in the fighting and allowing enemy wounded to receive treatment.

Today, at the request of the parties to the conflict, we have returned over 60 prisoners to their families in Nyala, southern Darfur. We are grateful that we could help reunite those families after months of separation. All these operations underline the importance of the ICRC’s neutrality and of its ability to work with all parties.

But the response is still very limited. Humanitarian organizations can no longer tolerate being prevented from responding to the immense needs in Sudan. International humanitarian law requires all parties to facilitate humanitarian operations. Simplifying the administrative formalities would be a first step towards this. We therefore reiterate our appeal to all sides, to take concrete, practical steps in line with the commitments they made during the talks in Jeddah.

The people of Sudan have suffered enough. The time has come to guarantee a neutral, impartial humanitarian environment, and to provide aid that will truly meet people’s needs. History has shown that if belligerents comply with the laws of war, there is more hope of peace and reconciliation. Modern Diplomacy

 This December, TyreSafe, the UK's tyre safety organisation, is launching a whimsical and educational tyre safety campaign like no other: 'Keep Your Tyres in Good 'Elf.' The campaign features Santa's mischievous elves in various tyre-checking scenarios, emphasising the importance of tyre safety during the festive period. 

With winter weather conditions posing additional risks on the roads, it's crucial for drivers to ensure their tyres are in optimal condition. The 'Keep Your Tyres in Good 'Elf' campaign focuses on three key areas: pressure checks for heavily loaded vehicles, tread checks for enhanced grip on treacherous roads, and overall tyre condition checks. 

Throughout December, TyreSafe will release playful visuals and engaging content, featuring Santa's elves performing these checks in creative scenarios. Whether they're measuring tyre pressure or checking tread depth, the elves aim to spark interest and encourage drivers to perform these simple checks, ultimately making their festive season safer and brighter. 

The campaign also seeks to educate about the dangers, costs and risks associated with driving on incorrectly inflated tyres, along with the potential false economy of purchased part worn tyres. Performing basic tyre checks could ensure that drivers have an incident-free Christmas, whilst saving vital pennies that could fill stockings.  The core message however is simple, give the gift of tyre safety this Christmas. 

The campaign will be accompanied by the hashtags #GoodElfTyres and #ElfApprovedTyres, inviting participants to share their own elf on the shelf tyre safety scenarios. Supporters are also encouraged to get involved by offering 'Free Tyre 'Elf Checks' throughout December, ensuring the gift of tyre safety is shared with customers, loved ones, and friends this Christmas. 

Members and partners can download the campaign materials in the members' area of the website, and everyone is welcomed and encouraged to share the social media campaign to maximise the reach of the message. 

Stuart Lovatt, TyreSafe Chair, commented on the campaign: "We want to remind drivers that a safe car is the best sleigh of all this holiday season. 'Keep Your Tyres in Good 'Elf' is a fun and festive way to raise awareness about the importance of tyre safety, especially as we navigate challenging winter conditions. We invite everyone to join us on this magical adventure with Santa's elves and help us keep the roads safer this Christmas." 

For more information on the 'Keep Your Tyres in Good 'Elf' campaign and to get involved, please visit tyresafe.org. https://tinyurl.com/bdesbxfz

EACC Chief Executive Officer Twalib Mbarak. [Kelvin Karani,Standard]

The Ethics and anti-corruption Commission (EACC) has exposed a land-grabbing scandal in Mombasa County, where public property worth over Sh10 billion has been illegally acquired by private entities. 

On Tuesday, EACC launched a crackdown on the culprits and recovered some of the properties through court orders.

One of the properties is the Shanzu Estate, an eight-acre land with government staff quarters, which was grabbed from the Ministry of Water and its affiliate agencies by Gulf Energy and other defendants.  

The estate, valued at Sh365 million, is adjacent to Shanzu Teachers College and is part of a larger property in the area valued at Sh2 billion, which the EACC is targeting.

The EACC's Chief Executive Officer Twalib Mbarak, accompanied by Mombasa Governor Abdullswamad Nassir and other senior government officials, visited the site today and revealed the details of the case. 

The EACC has obtained orders from the Environment and Land Court in Mombasa to stop any development on the property pending the hearing and determination of the case.

The EACC is also pursuing other cases involving public land and houses belonging to various public institutions, such as Kenya Airports Authority, Kenya Revenue Authority, Kenya Broadcasting Corporation, and the University of Nairobi.

Mombasa is among the counties with serious land-grabbing challenges in Kenya. Currently, the EACC is pursuing over 130 cases in court seeking to recover grabbed public properties worth approximately Sh10 billion within this region. 

The EACC has successfully recovered several properties in Mombasa through litigation and Alternative Dispute Resolution (ADR). 

- Hobley Estate in the Buxton area belonging to the Ministry of Housing, next to the Affordable Housing Project in Mombasa and has a current market value of Sh 500,000,000.

The property is currently housing County Government employees.

- Seven prime properties comprising six government houses belonging to the Kenya Civil Aviation Authority (KCAA) and one belonging to the Ministry of Housing all in Nyali/Bamburi Estate cumulatively valued at Sh420 million. 

The EACC's investigations have revealed that the directors and shareholders of Gulf Energy Limited, one of the main grabbers of the Shanzu Estate, are Francis Koome Njogu, Auron Energy Limited (a foreign company), and Paul Kiprotich Limo. Gulf Energy charged the land MN/I/9647 and MN/I/9648 at Barclays Bank of Kenya Limited for the sum of USD. 10,000,000.00 vide charge dated 4th February 2016.

On 14th November 2023, Justice Lucas Naikuni of the Environment and Land Court sitting in Mombasa granted EACC orders prohibiting the defendants from any dealings on the property pending the hearing and determination of the case.

The EACC has vowed to continue its fight against corruption and land-grabbing in the county and urged the public to report any suspicious transactions involving public land. The EACC's report was aired by KTN's Ode Francis, who followed the site visits and interviewed the officials involved. By Winfrey Owino, The Standard

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