Author: Editor

More than 130 companies in Kenya have applied for dissolution, signaling a tough economic period that could leave thousands of workers without jobs. Both employed and unemployed Kenyans are now facing increased uncertainty as businesses struggle to stay afloat in a difficult financial environment. A recent gazette notice from the Registrar of Companies, Joyce Koech, confirmed that a total of 134 companies have submitted applications for dissolution. This development comes at a time when the government is working to create a better business environment to support enterprises and start-ups. 64 Companies Approved for Dissolution, More at Risk Out of the…

Kenyans should prepare for an increase in electricity bills as the Energy and Petroleum Regulatory Authority (EPRA) has introduced a foreign exchange fluctuation adjustment that will take effect in March 2025. This move will lead to higher power costs for all consumers. In an official notice, EPRA’s Director-General, Daniel Bargoria, announced that the adjustment would add an extra 80.70 cents per kilowatt-hour (kWh) due to the weakening of the Kenyan shilling against foreign currencies. Why Are Electricity Prices Increasing? EPRA explained that these changes align with Clause 2 of Part III of the Schedule of Tariffs 2023, which allows electricity…

The Ministry of Defence has strongly criticised a report by Daily Nation that claimed former Prime Minister Raila Odinga prevented a military coup against President William Ruto. In a statement released on Monday, March 17, the Ministry dismissed the report published in Sunday Nation under the headline “Raila: I Saved Ruto from Military Coup”, as well as another similar article in Taifa Jumapili titled “Nilivyozima Mapinduzi Dhidi ya Ruto”. The Defence Ministry described the claims as misleading and inaccurate. Ministry Calls Out Media for Spreading Falsehoods The statement from the Ministry expressed concern over the articles, warning that they contained…

Busia Senator Okiya Omtatah has strongly opposed the use of Bomas of Kenya as the national tallying centre for elections. He argues that election results should be finalised at the constituency level instead of being processed at a central location. Omtatah suggests that Kenya should adopt an election system similar to that of the United States, where results are declared at different locations rather than a single tallying centre. Speaking during an interview on NTV on Monday, March 17, Omtatah criticised the current role of Bomas in the electoral process. He stated that the Kenyan Constitution already provides a clear…

Businessman Ordered to Hand Over Ksh35 Million to Assets Recovery Agency The High Court of Kenya has granted permission to the Assets Recovery Agency (ARA) to seize Ksh35 million (equivalent to $270,888.47 at the current exchange rate) from a Kenyan businessman. The court ruled that the funds were proceeds of crime and should be forfeited to the state. According to the Kenya Gazette issue dated March 14, the court’s decision also includes the confiscation of two high-end vehicles linked to the businessman. The official gazette outlined the forfeiture schedule, stating: “The High Court has issued Forfeiture Orders in High Court…

Crypto-based lending, particularly micro-loans, is emerging as a powerful alternative to traditional finance in Africa. This sector is offering new financial opportunities to those excluded from conventional banking systems while also attracting users with its quick loan approvals and promising returns. But how is crypto lending shaping up in Africa? Who is benefiting from it, and how are banks and regulators reacting to this rapidly evolving industry that is not free from risks such as fraud and scams? A Shift in Financial Access At first glance, the rise of crypto lending appears to be another instance of technology-driven financial inclusion.…

Understanding Assets and Debts When we own assets and have debts, two opposing forces are at play. On one side, our assets grow in value, while on the other, our debts continue to accumulate interest. Traditionally, managing these financial aspects requires selling assets to pay off debts or making regular loan payments. However, a groundbreaking financial innovation, known as self-paying crypto loans, is changing this narrative. What if Loans Could Pay Themselves? Imagine a world where loans have no interest and automatically pay themselves off. Instead of you making monthly payments, the appreciation of your assets covers your loan obligations.…

Cryptocurrency lending has become a popular option for investors who want to leverage their digital assets without selling them. But is it possible to take a crypto loan with no monthly payments? The short answer is yes, but it depends on the type of loan and lender you choose. How Crypto Loans Work Crypto loans allow you to use your digital assets as collateral to borrow cash or stablecoins. Unlike traditional loans, where your credit score plays a major role, crypto loans are backed by collateral, meaning lenders focus on the value of your holdings rather than your financial history.…

Former Deputy President Rigathi Gachagua has made shocking claims about demands allegedly made by former Prime Minister Raila Odinga to President William Ruto before they signed a Memorandum of Understanding (MoU). Speaking in an exclusive interview with Kameme FM on Monday, March 17, Gachagua alleged that Odinga had insisted on securing several key government positions for his Orange Democratic Movement (ODM) allies as part of his deal with Ruto. According to Gachagua, Raila demanded six Cabinet Secretary (CS) positions, similar to how the Kenya Kwanza team had previously negotiated for eight positions in exchange for their support during the elections.…

Police in Nyakach Subcounty, Kisumu, are investigating the shocking murder of a village elder who was brutally hacked to death during a night vigil on Friday. The deceased, identified as Joseph Otieno Odhiambo, was attacked by a gang of suspected criminals who stormed the gathering and unleashed violence. The incident occurred at around 11:20 p.m. in Saema village, where mourners had gathered to pay their last respects to the late Peres Owuor. Eyewitnesses reported that chaos erupted when a group of armed goons unexpectedly raided the vigil, causing panic among attendees. In the attack, Odhiambo, who was part of the…