Kenya's real estate market faces challenges from political uncertainty, yet demand for affordable housing remains strong. [Standard, File]
Kenya’s real estate market is feeling the effects of political uncertainty, with developers and investors expressing concerns regarding the risks tied to frequent election cycles.
Some property leaders say political tensions, including recent debates on extending term limits and impeachment of Rigathi Gachagua as Deputy President, are creating an unpredictable investment climate.
Industry executives are calling for political stability, arguing it is essential to sustaining investor confidence and supporting long-term growth.
“Kenya needs stability, not divisive politics if we want to build a secure investment environment,” said John Mwaura, Chief Executive of Finsco Africa.
At the same time, demand for affordable land and housing options remains strong, with the Thika Grove Chania project emerging as one of several developments targeting buyers near Thika town.
The project, spearheaded by Finsco Africa, offers affordable land parcels, with prices starting from Sh3.8 million for an eighth of an acre and Sh7.3 million for a quarter of an acre.
It aims to attract potential homeowners with amenities like electricity, water, and gated communities. Mwaura made the remarks while issuing more than 100 title deeds at the Thika Grove Chania Phase 1 project and during the launch of Thika Grove Chania Phase 3. By David Njaaga, The Standard
Former president Jacob Zuma singing 'Umshini wami' after an appearance at the arms deal corruption trial at the Pietermaritzburg high court. File image. Image:SANDILE NDLOVU
Former ANC president Jacob Zuma will on Friday fight for his reinstatement as an ANC member after his expulsion in July.
The Jacob Zuma Foundation said on Thursday Zuma's hearing by the ANC's national disciplinary committee of appeals (NDCA) will be held virtually.
Zuma wanted a physical meeting.
“He has instructed his representative Tony Yengeni that the first order of business must be his application for a physical and public appeal process and a few other preliminary objections which need to be decided before the appeal on the merits. The NDCA will be chaired by Johnny de Lange and the charged member will be represented by Yengeni,” the foundation said.
Despite having established his own party which led to the ANC's electoral losses in May, Zuma maintains he is still a member of the ANC.
He was charged with bringing the party into disrepute and for acting and collaborating with a political organisation other than an organisation in alliance with the ANC, in a manner contrary to the aims, policies and objectives of the party.
He was also charged with having campaigned for the MK Party.
NDC members including Faith Muthambi, Nocawe Mafu, Robinson Ramaite, Kerensa Millard and Vusi Pikoli voted in favour of his expulsion.
The NDC argued Zuma's misconduct was serious and his contribution to the liberation struggle could not detract from the decision to impose the sanction and expulsion.
The International Monetary Fund (IMF) has approved a disbursement of Sh78 billion (US$605 million) to assist Kenya in bolstering its fiscal and external buffers and enhancing resilience to climate-related shocks.
This decision comes as part of the seventh and eighth reviews under the Extended Fund Facility (EFF) and the Extended Credit Facility (ECF) arrangements, alongside a review under the recently established Resilience and Sustainability Facility (RSF).
The EFF and ECF programs, originally approved in April 2021, aim to address Kenya’s debt vulnerabilities while ensuring adequate resources for essential social and developmental needs.
The RSF, approved in July 2023, specifically targets climate challenges, seeking to catalyze private climate finance.
This funding follows the resolution of exceptional financing needs earlier this year, allowing for a shift in access limits under the EFF/ECF arrangements and reducing Kenya’s interest payments to the IMF.
IMF asserted that despite recent improvements, including shilling stabilization and reserve accumulation, the Kenyan government faces significant fiscal challenges mooted by tax revenue shortfall in the fiscal year 2023/24 and the withdrawal of the 2024 Finance Bill after public protests.
According to the IMF, these factors have hampered fiscal consolidation efforts.
Nonetheless, the IMF acknowledged that the EFF/ECF program has contributed to reducing inflation and stabilizing the exchange rate.
IMF’s First Deputy Managing Director Gita Gopinath highlighted the resilience of Kenya’s economy, which has maintained growth above the regional average.
However, she also noted the need for a credible fiscal consolidation strategy to tackle debt vulnerabilities while safeguarding social spending.
“In this context,a difficult adjustment path lies ahead. A credible fiscal consolidation strategy remains central to addressing debt vulnerabilities while protecting social and development spending,” she said.
“Reforms to make the tax regime more efficient, equitable, and progressive as well as strengthening accountability, transparency, and efficiency of public finances will help garner political and societal support for reforms.”
President William Ruto’s administration has faced hurdles in rolling out its agenda following the deadly gen-z protests that saw him decline to sign into law the 2024 finance bill. By
The International Monetary Fund (IMF) has approved a disbursement of Sh78 billion (US$605 million) to assist Kenya in bolstering its fiscal and external buffers and enhancing resilience to climate-related shocks.
This decision comes as part of the seventh and eighth reviews under the Extended Fund Facility (EFF) and the Extended Credit Facility (ECF) arrangements, alongside a review under the recently established Resilience and Sustainability Facility (RSF).
The EFF and ECF programs, originally approved in April 2021, aim to address Kenya’s debt vulnerabilities while ensuring adequate resources for essential social and developmental needs.
The RSF, approved in July 2023, specifically targets climate challenges, seeking to catalyze private climate finance.
This funding follows the resolution of exceptional financing needs earlier this year, allowing for a shift in access limits under the EFF/ECF arrangements and reducing Kenya’s interest payments to the IMF.
IMF asserted that despite recent improvements, including shilling stabilization and reserve accumulation, the Kenyan government faces significant fiscal challenges mooted by tax revenue shortfall in the fiscal year 2023/24 and the withdrawal of the 2024 Finance Bill after public protests.
According to the IMF, these factors have hampered fiscal consolidation efforts.
Nonetheless, the IMF acknowledged that the EFF/ECF program has contributed to reducing inflation and stabilizing the exchange rate.
IMF’s First Deputy Managing Director Gita Gopinath highlighted the resilience of Kenya’s economy, which has maintained growth above the regional average.
However, she also noted the need for a credible fiscal consolidation strategy to tackle debt vulnerabilities while safeguarding social spending.
“In this context,a difficult adjustment path lies ahead. A credible fiscal consolidation strategy remains central to addressing debt vulnerabilities while protecting social and development spending,” she said.
“Reforms to make the tax regime more efficient, equitable, and progressive as well as strengthening accountability, transparency, and efficiency of public finances will help garner political and societal support for reforms.”
President William Ruto’s administration has faced hurdles in rolling out its agenda following the deadly gen-z protests that saw him decline to sign into law the 2024 finance bill. By PHIDEL KIZITO, Capital News
As of today it is a criminal offence to attempt to “influence a person’s decision to access or provide abortion services within 150 metres of a clinic” in England and Wales. Such “influence” could include silent prayer according to the government’s new draconian rules.
“Protection zones around abortion clinics are now in force”, states a post from the UK Home Office on social media platform X.
“We are safeguarding women from any form of intimidation or harassment.”
Protection zones around abortion clinics are now in force. It is a criminal offence to attempt to influence a person’s decision to access or provide abortion services within 150 metres of a clinic. We are safeguarding women from any form of intimidation or harassment.
The new law has been called a “national disgrace”, by Isabel Vaughan-Spruce, speaking on behalf of March for Life UK, the pro-life organisation that strives to help and protect vulnerable women and the unborn, and who herself has been repeatedly arrested and prosecuted for praying silently outside abortion clinics.
“This is a shameful day for our country,” Vaughan-Spruce says, before noting that so-called buffer zones around facilities providing abortion services have been legalised with “unlimited fine risks for those caught breaking the obscure rules” set out by the government.
She notes that annually in the UK there are about 250,000 abortions, while about 50 per cent of those are repeat abortions, and include abortions as a result of taking abortion pills that result in some women having to go to hospital due to complications.
“Yet people in our government are trying to criminalise those offering alternatives to pregnant women or even silently praying about this issue.”
The last Conservative government had informed police that silent prayer should be allowed inside the new “safe access zones”, following controversy and protests about Christians being arrested for what were in effect the first “thought crimes” to be penalised in the UK for centuries.
But the new Labour government ditched draft guidance by the Conservatives that would protect silent prayer. The changes mean that silent prayer will be banned in the zones, although it will be at the discretion of the police to determine whether it meets the threshold for prosecution.
The new law scrapped exemptions allowing “consensual” communication within the zones, such as handing out leaflets or activists engaging those arriving at an abortion clinic in conversation.
The new law states that it is illegal for anyone to do anything that “obstructs someone from using abortion services or causes harassment or distress to a clinic’s patient or employee”, the DailyTelegraph reports.
The scope of its application includes making it illegal for someone to “intentionally influence someone’s decision to use abortion services”, which would in effect outlaw offering help or advice or simply a kind word. By James Jeffrey, Catholic Herald
Former Deputy Commission Secretary Wilson Kiprotich Shollei and former IEBC chief executive JamesOswago. [File, Standard]
Former Independent and Electoral Boundary Commission chief executive James Oswago suffered a major setback on Wednesday when the High Court declined to quash his four-year jail term.
This is in relation to his involvement in a Kshs1.3 billion tender for supplying materials for the 2013 elections.
Justice Nixon Sifuna of the Milimani Anti-Corruption High Court upheld the sentences previously imposed on Oswago and former Deputy Commission Secretary Wilson Shollei.
The court found that they failed to comply with procurement laws when acquiring electronic voter identification devices for the March 4, 2013 polls.
Oswago and Shollei were fined Kshs 7.5 million for failure to comply with procurement laws. “I find the evidence put forth by the prosecution vividly demonstrated that the procurement of the voter identification kits violated the standards and procedures prescribed in the Procurement Disposal Act,” Sifuna stated.
As the accounting officer, Oswago was primarily responsible for ensuring the IEBC complied with procurement laws. The court emphasized that their actions undermined the integrity of the elections.
“The responsibility for this wrongdoing lies with someone, as this non-compliance constitutes an offence under sections 47 and 48 of the ACECA. The evidence clearly indicates that the capability and criminal culpability fall squarely on these appellants, who bear ultimate responsibility for their actions,” the judge ruled.
Justice Sifuna found that the Office of the Director of Public Prosecutions (DPP) adequately discharged its burden of proof, demonstrating the cases against Oswago and Shollei beyond reasonable doubt.
"I find no justification for disturbing the sentence; thus, this appeal has wholly failed and is dismissed," he ruled.
Oswago took issue with the decision, saying the judge did not take account of the law, which he says provides for Sh1 million fine upon conviction. The former IEBC boss said he would move to the Court of Appeal for a review.
This verdict follows Oswago and Shollei's appeal of the trial court's December 2022 decision, which found them guilty of failing to comply with procurement laws regarding the polls equipment tender.
They were accused of improperly using their offices to benefit Face Technologies Limited by approving a payment of Kshs 1,397,724,925.51 for ballot materials without verifying that they met the necessary technical specifications.
While sentencing, Magistrate Felix Kombo noted that it was incumbent upon Oswago and Shollei to advise the commission on procurement matters, and any contract variations required approval from the tender committee. The court found that they failed to ensure the necessary changes were approved.
“The court has considered the challenges associated with elections. However, elections must be handled with care. Oswago and Shollei were not faithful to the procurement process, leading to a crisis,” the magistrate stated.
In his appeal, Oswago argued that the sentence was too harsh and excessive, urging the judge to quash the conviction and set aside the sentence.
He claimed that the trial magistrate exceeded her mandate in imposing a fine of Kshs 5 million, plus an additional Kshs 2.5 million on the two counts, despite the Anti-Corruption and Economic Crimes Act providing for a maximum fine of one million.
Oswago contended that the magistrate did not provide reasons for the excessive sentence, especially as he was a first offender.
Both Oswago and Shollei further argued that the trial court usurped the DPP's role by framing charges that favoured the prosecution's case. "The court played a prosecutorial role by framing charges that favoured the DPP case," Oswago told Justice Sifuna. By Nancy Gitonga, The Standard
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