The World Bank has sanctioned a $1.2 billion (KES 159.48 billion) financing package for Kenya aimed at promoting fiscal sustainability and resilient economic growth. This initiative, part of a series of development policy operations (DPO), is designed to enhance public finance efficiency, foster competitive and inclusive markets, and bolster climate action in the East African nation. The financing package, known as the First Kenya Fiscal Sustainability and Resilient Growth Development Policy Operation, sets ambitious goals to overhaul Kenya’s economic framework. “The program aims to promote ef ..read more

Occupancy rate is the percentage of all units in a residential building that are occupied during a certain period of time. The occupancy rate serves as a crucial indicator for residential buildings, providing insight into their performance and desirability among households. A higher occupancy rate not only signifies robust demand and revenue potential but also contributes to consistent rental income. Moreover, it facilitates better cash flow, enabling increased budget allocation towards property maintenance and enhancements. Conversely, low occupancy rates may indicate subpar management and a ..read more

Choosing the right real estate agent to market or sell your property is crucial to facilitate success of the process. It important that you adequately inquire about their marketing strategy. Do they utilize the power of good photography, virtual tours, or online listings?  The strategies used should be effective to ensure your property stands out in the competitive real estate market. A competent agent should have a comprehensive plan outlining the marketing strategy and the potential it has on the target clients. Other vital attributes include: Local market knowledge The agent must posse ..read more

The Central Bank Rate (CBR) is a critical financial tool used by central banks to control liquidity in the economy, influence inflation, and stabilize the currency. A high CBR rate can have a profound impact on an economy, affecting everything from borrowing costs to investment decisions. When the CBR is increased, it typically leads to higher interest rates on loans and credit facilities. This increase in borrowing costs can dampen consumer spending and business investment as loans become more expensive and harder to obtain. Consequently, this can lead to a decrease in purchasing power among ..read more

In a bid to dispel rumors regarding the government’s purported failure to consistently honor its obligations to retired presidents, vice presidents, and the former prime minister, Government Spokesperson Isaac Mwaura laid out a comprehensive overview of the benefits accorded to these esteemed individuals. Addressing concerns head-on, Mwaura emphasized the Kenya Kwanza government’s steadfast commitment to upholding the law and providing due support to retired state officers, in line with the Presidential Retirement Benefits Act. President Ruto’s administration reaffirmed its stance against the ..read more

Property maintenance encompasses all preventive and reactive measures taken to keep a property fully functional and operating in optimal condition. It includes a wide range of activities such as cleaning, safety checks, and repairs. The main types of maintenance are discussed below: Routine Maintenance  It is the most common type of maintenance done on a property with standard wear and tear. It includes maintenance and repair practices that can be carried out easily, quickly, and on a routine basis. These practices include landscaping, cleaning common areas, and collecting trash.  ..read more

We are not as focused on a sustainable future as we should be, as many people currently seek material possessions and recognition. The people of the world have become so ignorant and greedy that the thought of handing over a liveable world to the younger generation has lost its importance.  This irony is striking—why are we in such a hurry to acquire material possessions that we may never get a chance to use, especially if the world continues on its current trajectory? A sustainable future, to me, is one where every generation can obtain clean and necessary food and nutrition.  Howev ..read more

Uncertainties refer to conditions characterized by a lack of predictability regarding future outcomes, often leading to a sense of doubt. The root of uncertainties is often the lack of adequate information needed to make the most appropriate decision in a situation or the feeling of lack of control in situations. This can result in anxiety and stress leading to indecision.  “In any moment of decision, the best thing you can do is the right thing, the next best thing is the wrong thing, and the worst thing you can do is nothing.” This quote is attributed to Theodore Roosevelt, the 26th pre ..read more

President William Ruto, in a call to arms against the myriad security challenges facing Kenya, implored the nation’s future military leaders to pioneer innovative strategies during the Cadets Commissioning Parade held at the Kenya Military Academy in Lanet. Addressing the assembled cadets, President Ruto underscored the pressing need for the Kenya Defence Forces (KDF) to evolve more agile and effective approaches to safeguarding national security. He emphasized the imperative of leveraging technology, fostering community engagement, and implementing targeted interventions to counter a spectrum ..read more

Kenya’s vibrant MSME sector, which accounts for a significant portion of the country’s economic output and employment, is grappling with a lack of access to finance and inadequate infrastructure, a new World Bank report has revealed. The report titled “Jobs for All: Unlocking Inclusive Growth in Kenya” says these challenges pose a significant barrier to the sector’s growth and its ability to create much-needed jobs, especially in the aftermath of the COVID-19 pandemic. “Most firms in Kenya cite access to finance as an important challenge,” the report states. “In the informal sector, 63 percent ..read more