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Kenyas EconomyKenya’s economy: Where to go from here

That Kenya’s economy is still bleeding over a year after the post-election violence is obvious. Though the free fall was projected after the bloody chaos that left hundreds dead and thousands displaced, the real picture was not clear until the economic survey report of 2009 was released.

 According to the survey, economic growth dropped by 5.4%.  The economy grew at 1.7%  compared to a rate of 7.1% the year before. The growth rate is the lowest since 2003 after a lauded turnaround in that year.

Budget Reflections

Budget reflections 2009

We are not lost to the fact that this year’s budget was read in the backdrop of huge economic challenges arising from the 2007/8 post election violence, current severe drought and the global financial crisis. However some experts feel that we can still swing back on track.

Regenerated SlumRegeneration in Kenya

A chance to create a vibrant environment for all Kenyans

The just ending Kenyan tropical winter reminds us of the need for proper housing for protection against the vagaries of the weather. But housing and good surroundings is about more than the weather.

 

Obama Kicks the buttObama kicks butt

 Romance is over

 

First visit to Africa and the romance with Obama seems to be over; for good or for worse.

 

We had already forgiven him for snubbing his fatherland, having understood how badly we behaved after the 2007 general election. We however looked forward to his debut visit to the continent with great expectations.

 

So why are some disappointed?  Because declarations about ending tyranny and corruption have been made many a time.

 

Obama may be sincere in his wish to end these vices but it seems he has started on the traditional footing. Perhaps he should have asked: “America has been engaged in this continent for many years. In Kenya the US has played a very visible role for 46 years; since independence. Why have US policies failed in the past? What is to be done differently? We Africans know the answers but often no one listens.

 

Senetor Hillary Clinton

 

           

The 8th African Growth and Opportunity Act (AGOA) conference whose theme was "Realizing the Full Potential of AGOA through Expansion of Trade and Investment" came to a close recently.

 


Owen and Obertan
Sports

Owen and Obertan: Are they just surprise buys?

 

Only a few weeks before the English Premier League kicks off for the 2009/10 season, fans are waiting with bated wondering whether the summer signings will pay off and become celebrated stars in their clubs.

 

Of focus will be Manchester United who sold their priced asset in Cristiano Ronaldo to Real MaNew Signingsdrid for a record US$131million. Out Ronaldo, in comes three new signings two of which have come as a total surprise to the Old Trafford faithful.

 

With US$131 million, many United fans were hoping for some big signing who would replace Ronaldo’s goal scoring spree at the club. However, it came as a surprise as Sir Alex Ferguson went for out of contract at Newcastle United Michael Owen, Wigan’s Antonio Valencia and less known 20 year old Frenchman Gabriel Obertan. Let it not be forgotten though that Ferguson brought an 18 year old winger from Sporting Lisbon and in six seasons made him the world’s best player.

 

While the Scot has purchased his fair share of big-money superstars, he has also raised plenty of eyebrows with some buys that have had United fans scratching their heads.

 

 Some have been massive successes, Peter Schmeichel  and Ole Gunnar Solskjaer being prime examples. But for every Solskjaer, there's a Bellion.

 

Gabriel Obertan is the most recent head-scratcher, with the player himself admitting he was stunned to find himself the subject of Ferguson's admiration. Whether the Frenchman will go on to be a hit at Old Trafford remains to be seen. Here are some of Ferguson’s top five maverick misses in the transfer market.
 
Obama Kicks Butt
Politics & news

Obama Kicks the buttObama kicks butt

 Romance is over

 

First visit to Africa and the romance with Obama seems to be over; for good or for worse.

 

We had already forgiven him for snubbing his fatherland, having understood how badly we behaved after the 2007 general election. We however looked forward to his debut visit to the continent with great expectations.

 

So why are some disappointed?  Because declarations about ending tyranny and corruption have been made many a time.

 

Obama may be sincere in his wish to end these vices but it seems he has started on the traditional footing. Perhaps he should have asked: “America has been engaged in this continent for many years. In Kenya the US has played a very visible role for 46 years; since independence. Why have US policies failed in the past? What is to be done differently? We Africans know the answers but often no one listens.

 

Read more...
 
Putting an end to election violence
Politics & news

The Hague

Kenya: The Hague or Local Tribunal?

More than a half of Kenyans want suspected perpetrators of post election violence tried at the International Criminal Court (ICC) at The Hague, according to a recent survey.

The report by consultants hired by the African Union Panel of Eminent Personalities shows 53 percent of respondents support the ICC route as opposed to 33 percent who vouch for a local tribunal. According to South Consulting, most of those interviewed believe the local Tribunal would be corrupted and trust they will only find fair judgment at The Hague.

These fears arise from the perceived weaknesses in the judicial system and the fact that successive Kenyan governments have lacked political will to prosecute influential persons for serious offenses, including political violence.

Read more...
 
Serena Williams
Sports

Serena WilliamsSerena Williams

 

Fresh from winning her third Wimbledon title, Serena Williams will be

back on the court as from August 31 in a pursuit of defending her US

Open crown hence picking up a fourth US Open title.

 

Read more...
 
Jelena Isinbayeva
Sports

Jalena IsinbeyeyaJelena Isinbayeva

 

She goes into the Berlin World Championships seeking to break her own

record in pole vault as she has practically won everything there is to

win in her category. The 26 year old Russian pole vaulter is a

two-time Olympic Gold Medalist (2004 and 2008), was named Female

Athlete of the Year by the IAAF in 2004, 2005 and 2008, and World

Sportswoman of the Year by Laureus in 2007 and 2009.

Read more...
 
Janeth Jepkosgei
Sports

Janeth Jepkosgei

Also competing in the women’s 800m,

Jepkosgei was the person to beat

in the two-lap race before Jelimo

came into the picture. The 2006

Kenya Sports Woman of the

 

Read more...
 
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Breaking News

Equity Logog

Equity Bank recently announced a pretax profit of Ksh4.3 billion for the year to September 2009 (2008-Ksh 4.3 billion), maintaining its profitability in an adverse economic environment arising from the effects of the global economic crisis, severe drought and the 2008 post election violence.

 

The Bank’s results for 2008 included a one off profit of Ksh1.3 billion arising from the Safaricom IPO services where Equity Bank processed 45% of the business.

 

Without this one off income, the results from the bank’s core business show an increase of 48% thus showing sustained resilience at a time when the Kenyan and indeed the world economy has taken a thorough beating.

 

“These results are attributable to sustaining our strategy of balanced growth, high operating efficiency and prudent management of risk,” Dr James Mwangi, the Bank’s CEO said when announcing the results Monday.

 

The market received the results calmly and the share price closed Monday at Ksh14.35 down 0.15 from Friday 23rd. The annualized earnings per share stood at Ksh1.21 and P/E of 11.6.      

 

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