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1. CBK to License Independent Remittance Providers
The Central Bank of Kenya has released a draft proposal to have independent money remittance providers (MRPs) licensed. CBK has developed draft Regulations on International Money Remittance Business to be issued to key stakeholders for public comments. Currently, money remittance services are offered through commercial banks and other agents appointed dealers approved by CBK.
2. 2013 GDP Growth Seen at 5.6% - Finance Ministry
Kenya economy is seen growing 5.6 percent in 2013 from an estimated 5.1 percent this year, picking up on recovery in the last two quarters of 2012, the Finance Ministry said on Monday. The ministry said in a budget review and outlook presentation that GDP growth was expected to pick up to 6.8 percent in fourth quarter 2012 from 6.4 percent in the third quarter, helped by a rebound in agriculture, construction, wholesale and retail.
3. Huawei Technologies Sees African Revenue Grow as Much as 30%
Huawei Technologies Co., China’s largest phone-equipment maker, said revenue in southern and eastern Africa may grow as much as 30 percent in the next three years as growth on the continent outpaces most other regions.
The company plans to capitalize on low mobile-broadband penetration rates and increasing demand for smartphones in Africa, Li Dafeng, president for eastern and southern Africa, said in an interview in Nairobi, the capital, on Nov. 7. Huawei, based in Shenzhen, China, will also focus on developing its enterprise business that supplies equipment to governments and companies, he said.
4. Could Shares Have Made You Money This Year?
Halfway through last month, the Kenyan Stock Market rose beyond the 4,000 point mark as measured by the market’s most popular performance index – the NSE 20 Share Index. This meant that, for the first time, stock prices had risen past a point last seen in mid-2011.
With a KES 50,000 investment how much could you have made investing in shares.
5. Relief as Treasury Shelves New VAT Bill Until After the General Election
Treasury has shelved plans to reintroduce the controversial Vat Bill until after the next government comes to power.
This is after the Bill received much criticism and opposition from the public and some MPs. Other factors that conspired to knock down the Bill include the run-up to the General Election, VAT refunds following growing pressure from the public, and lack of enough time to deliberate on the Bill.
6. Kenya Needs KES 1.05 Trillion Budget by 2016 - Treasury
The Energy, Infrastructure and Information Communications Technology Sector will need almost three times the development annual budget allocation from next year. According to the Governments medium-term sector reports the key sectors requires a total of Sh1.05 trillion in the next three years to meet the economy's development goals.
The sector which consists of roads, energy, ICT, local governments among others needs funding to the tune of Sh361.9billion in 2013/14, Sh373.5billion in 2014/15 and Sh319.7billion in 2015/16 financial year.
7. AP Denies Inciting Police Officers to Strike
An Administration Police officer has been charged with being behind a string of messages calling on other officers to go slow over a pay rise. Mr Philip Omondi Ojunga, according to the prosecution, sent messages “intended to incite other police officers” through a Facebook account.
The court was told that Mr Omondi sent the messages through a Facebook account registered as Bradly Philip Charles K’ojunga.
8. New York Governor Seeks USD 30b in Aid After Sandy
New York Governor Andrew Cuomo asked the US federal government for $30 billion in aid Monday to help his state recover from the devastation left by superstorm Sandy. The requested funds will help rebuild the economy, infrastructure, housing, public buildings and small businesses, Cuomo told reporters in stressing the "cataclysmic" nature of the storm that killed more than 110 people.
Abacus is the result of over 10 years market experience and is licensed as a data vendor by the Nairobi Securities Exchange
| Email: | hello@abacus.co.ke |
|---|---|
| Tel: | +254 792 753 774 |