Browsing: William Ruto

The sustainability of Kenya's debt remains a significant concern not only for authorities but also for the populace, financial institutions, and other key stakeholders.

Kenya’s economy has recovered significantly under challenging circumstances amid a global economic downturn and is anticipated to grow by 5.7 per cent in 2022.
Despite significant setbacks, Kenya’s structural reform strategy, which focuses on enhancing governance, has progressed.
According to the Central Bank of Kenya, 57 cents of every dollar spent by taxpayers goes towards the country’s growing debt.

Economic ...

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Addressing the rising inflation in Africa while supporting economic growth and cushioning the vulnerable against economic shocks requires an urgent but careful approach.

  • Multiple shocks have gripped a world economy already ravaged by the pandemic.
  • Sub-Saharan Africa has been facing one of the most difficult economic circumstances recently, with the pandemic’s delayed recovery, soaring energy and food prices, and increased public debt levels.
  • Central banks have already started raising interest rates in response to rising inflation in Africa, capital outflows, and currency devaluation caused by tighter monetary policy in industrialized countries.

A gloomy and an uncertain global economic outlook

Gloomy signs of progress in 2022 highlight a tentative global economic recovery in 2021 as risks started to manifest. Global production fell in the second quarter due to slowdowns in Russia and China. The United States (US) consumer spending also fell short of expectations.

Multiple shocks have gripped a world economy …

President Ruto’s administration plan regarding the ICT sector represents a significant move towards a much anticipated economic revolution in Kenya.

  • Kenya has not been left behind in the growth and development of digital technology.
  • Kenya’s new administration must address local corporates and startups’ challenges in retaining the best tech talent.
  • The President promised to lay 100,000 kilometres of internet fibre all over the country over five years.

William Samoei Ruto got sworn in on September 13, 2022. Kenya’s fifth president takes over when the world undergoing a digital revolution. Technologies such as the metaverse and crypto are slowly but steadily taking root.

Kenya has not been left behind in the growth and development of digital technology. East Africa’s richest economy stands tall in the development of digital technology. However, a lot needs to be done, and the new administration has enough space to execute its plan regarding the advancement of …

The confirmation of William Ruto as president indicates that Kenya will remain on track with its IMF program and plans to strengthen medium-term public finances, but a sovereign credit 2022 ratings downgrade remains inevitable in the subsequent months.

  • Over the last decade, Kenya has implemented significant political and economic changes.
  • The new administration will make headway on Kenya’s fiscal consolidation.
  • Even if Ruto keeps his promises, it may be “too little, too late” to avert at least one sovereign decline by the end of 2022.

Kenya’s political and economic structure

Over the last decade, Kenya has implemented significant political and economic changes. The changes have led to sustained economic growth, social progress, and political stability. Poverty, inequality, transparency and accountability, climate change, sustained poor private sector investment, and the economy’s susceptibility to internal and external shocks remain essential development issues.

Kenya’s new constitution ushered in a new economic and political …

The Treasury has directed Cabinet Secretaries and CEOs of parastatals to draft Kenya’s 2023 budget based on policies implemented by President Uhuru Kenyatta’s government, despite uncertainty about when the next Head of State would take office after Raila Odinga filed a petition at the supreme court.

  • A hazy outlook has prompted the Treasury to begin the budget-making process under present rules.
  • According to Yatani, the formulation of the FY 2023/24 and medium-term budgets will concentrate on the targeted economic intervention.
  • A successful petition would invalidate the presidential election, necessitating a new vote 60 days after the ruling.

Directions by Treasury

The Treasury has directed Cabinet Secretaries and CEOs of parastatals to draft the 2023 budget for the fiscal year beginning July 2023 based on policies implemented by President Uhuru Kenyatta’s government, despite uncertainty about when the next Head of State would take office.

Treasury Cabinet Secretary Ukur Yatani has urged …

  • Kenya’s polls will determine how the country’s stalling economy rebuilds following the devastating coronavirus outbreak and the anxiety to achieve a calm democratic process
  • Whoever triumphs will receive a weak economy and a disgruntled people amid a domino effect of Covid-19, famine, and the Ukrainian conflict, which has disrupted fuel, wheat, and fertilizer supplies and exacerbated an extreme famine situation in East Africa.
  • The President-elect must address Kenya’s unsustainable budget imbalance.

Kenya Elections 2022 date

Kenya will conduct a general election on August 9, 2022, with adjustments to all political offices in the government, including parliament, senate, and the Presidency.

Kenya’s polls will determine how the country’s stalling economy rebuilds following the devastating coronavirus outbreak and the anxiety to achieve a calm democratic process. With all of its diplomatic and economic might in the region, Kenya’s election has far-reaching ramifications for East Africa’s development and growth.

Scores of foreign corporate

  • Kenya’s economy is expected to expand the fastest in 2022 despite this being an electioneering year
  • This is a much better performance than any other since the onset of the multiparty system 20 years ago
  • It is estimated and expected that the economy will grow by 5.4 per cent by the time we get to September 2022

Kenya Economy

A projection of global economists has suggested that Kenya’s economy is expected to expand the fastest in this electioneering year despite not knowing who will win the 2022 election in Kenya.

This growth is more than any other since the onset of the multiparty system 20 years ago shrugging off politics in Kenya 2022.

This increase, they say is supported by increased expenditure and also the need for more human resources to run campaigns with the introduction of features like social media campaigns which also is a way of collecting revenue.…

Elephants in Kenya could be facing an enhanced threat if Botswana’s plans to have Kenya support its trophy hunting works in its favour.

The two countries have signed three key agreements covering bilateral trade, air transport and ICT but there could be more than meets the eye.

In opening a new chapter of cooperation between the two countries, Kenya and Botswana agreed to broaden areas of cooperation by solidifying historic ties, emphasizing the need to engage as African countries before venturing into the world.

The agreements were signed at the end of talks held between Presidents Uhuru Kenyatta and Mokgweetsi Masisi at State House, Nairobi in a meeting also attended by Deputy President William Ruto.

Why Botswana’s president visited Kenya

President Masisi, who is in Kenya on a three-day state visit said, “This is an opportunity to revive and refresh our relations. Great opportunities lie in our relationship that our …