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Tanzania is getting closer to launching a central bank digital currency (CBDC) which gives the country’s residents a “safe alternative,” the central bank governor has said. However, no date for the digital currency launch has been given.

Growing Interest in Cryptocurrencies

According to Florens Luoga, the governor of Tanzania’s central bank, his country is inching closer to the launch of a central bank digital currency (CBDC). When launched, the CBDC is expected to counter the growing interest in privately issued cryptocurrencies, a report has said.

In remarks made during an interview, Louga suggested the Bank of Tanzania (BOT) is also preparing for the launch of a CBDC because it cannot ignore the technological advances in money. The governor claimed that BOT’s digital currency will provide users with an alternative that is safer than cryptocurrencies. He said:

It’s important for us to provide a central bank digital currency as a safe alternative because many people are being affected by cryptocurrency speculators.

A Global Phenomenon

The governor added that the central bank has since sent officials to countries whose respective CBDCs have progressed. While many central banks have touted CBDCs as an alternative to cryptocurrencies, few have actually piloted their respective centralized assets. In Africa, only the Nigerian central bank has so far launched a CBDC, while a few others are still at the exploratory or research stages.

 

Meanwhile, when asked about the launch date of Tanzania’s digital currency, Luoga reportedly declined to state when this is likely to happen. He did, however, emphasize that the BOT cannot ignore this phenomenon.

“Almost worldwide, central bank governors are in training right now and holding discussions on how to bring it about,” Luoga argued.

AfricaCBDCcentral bank digital currencyFlorens LuogaNigeriaTanzania

 

Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route. by Terence Zimwara, Emerging Markets
  

 

An acute milk shortage has hit Kiambu County following prolonged drought.

A spot check by The Standard revealed that processing plants are not able to supply milk to supermarkets and retail shops. 

Milk hawkers and dealers have closed shops while some operate on minimal stock that get bought off early in the morning.

The shortage has now seen the price of packaged milk shoot up.

A half a litre packet that used to cost between Sh48 and Sh50 now sells at Sh67.

Farmers said they cannot supply enough milk to processing plants following the prolonged drought. 

James Karanja, a farmer, said he has three cows that used to produce between seven and a 10 litres of milk each morning.

He said the cows produced a similar quantity in the afternoon, but now the cows only manage half the quantity.

“I used to buy one 70-kilogramme sack of feed at Sh1500 and now it is retailing at Sh2200," said Karanja. "This price is high and  I have been forced to reduce the recommended amount that I give each cow."

Consequently, Karanja said his production has dropped significantly.

Karanja added that his farm that supplies enough forage is no longer able after the drought.

He said previously, he could even makes silage with the surplus nappier grass from his farm.

“I even dug a big hole in my farm for forage for later use when I have surplus but now I have exhausted the forage and the silage," Karanja said. "We will have some bad time in milk production before the rains return.”

Another farmer, Grace Nyambura from Lari said that there is a significant drop in milk production.

“We used to sell milk at Kimende and Lari shopping centres with a litre going for as low as Sh20. Now we cannot supply all shops in the area,” Nyambura said.

The farmers have also blamed high prices of dairy feed that have forced them to reduce the amount they give the cows. - George Njunge, The Standard

Former presidential candidate, Kizza Besigye was intercepted by security operatives and returned to his home in Kasangati, Wakiso District as he attempted to get out in a new drive dubbed awakening the citizens of Uganda on May 12, 2022. PHOTOS/ ABUBAKER LUBOWA 

What you need to know:

  • More security operatives have been deployed around Dr Besigye’s house to prevent him from leaving

The leader of a political pressure group, People's Transition Group, Dr Kizza Besigye, has been put under house arrest after he was intercepted by security operatives following his attempt to mobilise Ugandans to raise up against the high cost of living which he said was affecting vulnerable common citizens whom he said belong to the "cassava" republic. 

Addressing journalists at his home in Kasangati in Wakiso District, Dr Besigye who was flanked by Kampala City Lord Mayor, Erias Lukwago and three aides standing behind his tinted land cruiser while holding placards with inscriptions "We can't breathe, reduce the cost of living” and another saying, “Transition now, not Succession”, stormed the streets.

He first attempted to access the main road from his home using the eastern gate but upon sighting heavily deployed security officers, he decided to use the alternative pathway to his home.
However, as he attempted to connect to the main road, he was intercepted by a dozen of security operatives donned in police uniform.

ALSO READ: Ugandans brace for hard times as commodity prices soar
They dragged him by his pair of trousers and pushed him back into his compound.  By the time of filing this story, more security operatives had been deployed and surrounded Dr Besigye’s house to prevent him from leaving.

While addressing journalists before his arrest, Dr Besigye asked government to downsize parliament whose over 500 members have proved to be costly for Ugandans to maintain. He also said President Museveni should do away with Resident District Commissioners (RDCs) whose roles can be played by the Chief Administrative officers.
Additionally, Dr Besigye suggested that government should reclaim the monies swindled by corrupt officials so that it can be used to enhance salaries of civil servants and give relief to schools, among others. 

A riot police officer deployed at Dr Kizza Besigye's home on May 12, 2022. PHOTO/ ABUBAKER LUBOWA

"We now have a cassava republic and a bread republic. We should get this money back so that the cassava republic can get something to eat. The RDCs should go back home and grow cassava so that there can be enough cassava in the market that can be bought by members of cassava republic, "he said.


He also demanded that government relaxes taxes on essential commodities to make them more affordable to the vulnerable common people.


According to Dr Besigye, a four-time presidential contender, some Ugandans, including security officers have resorted to stealing due to the economic crisis Uganda is in.

"Here in Kasangati, some police officers connive with thieves to steal license plates from cars.The people who steal even leave behind their telephone numbers and when you contact them, they ask for Shs100,000.This  is how bad the situation is," he said.
He said he is ready to sacrifice his life for the sake of securing the lives of Ugandans. By JANE NAFULA , Daily Monitor

President Uhuru Kenyatta, Suna East MP Junet Mohamed and ODM Party leader Raila Odinga [David Gichuru, Standard]

Photo Courtesy/Standard

Azimio la Umoja have branded Deputy President William Ruto a “hypocrite” for opposing BBI, which proposed an expansion of the Executive, yet he’s now offering Musalia Mudavadi a senior post that doesn’t exist in the current Executive structure.

According to a coalition agreement document deposited with the Registrar of Political Parties, Musalia Mudavadi will take up the Prime Cabinet Secretary position should Ruto win the August 9 presidential election.

The position is akin to that of a prime minister in an expanded executive. 

His functions, as per the agreement, will include assisting the president and his deputy in coordinating and supervising ministries and State departments, coordinating national government functions, chairing and coordinating legislative agenda and performing functions as may be assigned by the president.

Should Ruto win the presidency, then he will through an Executive Order, create the position of Prime CS within 14 days after swearing-in Mudavadi’s Amani National Congress (ANC) will also propose several Cabinet secretaries, principal secretaries and ambassadors, taking up 30 per cent of government alongside Moses Wetangula’s Ford-Kenya.

Wetangula, as per the agreement, will be proposed as Speaker of the National Assembly.

UDA, which is Ruto’s sponsor party, will take up the president and deputy president positions, with a bulk of government centred around it. 

These revelations have triggered a response from Raila Odinga’s team, with Junet Mohamed, who is the Secretary-General of the Azimio la Umoja One Kenya coalition, criticising the DP for rejecting the BBI, yet he seems to be adopting a semblance of the thrown-out reforms report.

“Ruto has opposed the BBI vehemently for the last five years. Today, he is creating the same position that the BBI Taskforce was advocating for – the prime minister and deputy prime minister. Ruto is not [even] ashamed of himself,” Junet Mohamed said during a press conference in Kilifi on Thursday, May 12.

“That tells you the kind of character [that] we are dealing with, a hypocrite. He is the man who said we do not need BBI, we do not need to create positions [for a few politicians], but now, he is re-inventing BBI through the back door. You can fool some people for some time but you cannot fool all the people all the time," said Junet.

Ruto had called out President Uhuru Kenyatta, ODM boss Raila Odinga, Wiper Party leader Kalonzo Musyoka, among other leaders affiliated to the Azimio outfit for “ganging up to create plum positions for a few people”.

“The end of reggae is the end of political conmanship in Kenya. The [Supreme Court] ruling is a validation that BBI was an illegal and an unconstitutional exercise,” he said on March 31 after the apex court judges dealt the reforms push a final blow. By Stephanie Wangari, The Standard

 
Beatrice Waruguru, 21, died in unclear circumstances in Saudi Arabia. [Pkemoi Ng’enoh, Standard]

The family of 21-year-old woman who died in Saudi Arabia under unclear circumstances have refused to sign a form that allows them to collect her body.

Beatrice Waruguru’s family said they were being forced to sign the form without first ascertaining whether the body is that of their kin.

JKIA officials, however, maintained that they couldn’t allow the family to view the body at the facility, saying it was against airport policy. 

Waruguru left Kenya for Saudi Arabia in February 2021, but died under unclear circumstances in December that year, with her family claiming she was tortured.

On Saturday, May 7, the family was informed that their daughter’s body had been processed for transportation from Saudi Arabia.When Waruguru’s family arrived at the JKIA on Wednesday, May 11, they were told to first sign body-receipt forms before her remains could be handed over to them.

Waruguru’s employment representative was supposed to witness the signing of body-receipt documents.

“We were told that we could only view the body after signing the receipt documents,” said Mercy Wanjiru, the deceased’s mother. 

“The body, which I’m not sure is that of my daughter, had been wrapped like a luggage. The airport officers told us to accept it and go view it at the mortuary,” she added.

Wanjiru said they won’t accept a body which isn’t their kinsperson’s.

The deceased’s friend, Mercy Wambui, said Waruguru left Kenya for Saudi Arabia shortly after completing her secondary education.

“She never told me how she secured the deal to travel to Saudi Arabia,” said Wambui.

She, however, suspects that Waruguru was directed to an employment agent by a broker. 

The Association of Skilled Migrant Agencies of Kenya (ASMAK) representative, Josephine Muriuki, said they will alert authorities that Waruguru’s body arrived at the JKIA, but her family refused to collect it.

JKIA officials, who spoke to The Standard in confidence, said the airport does not have body storage facilities.

UPDATE: At around 6pm Wednesday, Waruguru’s family agreed to collect the body after signing the receipt forms, five hours after the stand-off ensued. They were not allowed to view the body on site. The Standard understands that her remains will be kept at the Kenyatta University Funeral Home.  By Pkemoi Ng'enoh , The Standard

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