Abacus Wealth Management

8 Things You Should Know This Morning

1. Studies Show Rise in Child Abuse

Sexual violence against children is on the rise in Kenya, a survey released on Wednesday shows. The report released by Gender Minister Naomi Shaban indicates that one in 10 girls and one in 20 boys had experienced sexual violence in the 12 months prior to the 2010 study.

“Unwanted touching remained the most common form of sexual violence, followed by attempted, pressurised and physical forced sex,” the report says.

2. Diaspora Kenyans Will Not Vote in General Elections

Kenyans living abroad will not vote in the 2013 general elections despite previous assurances and constitutional provisions allowing them to, Justice Minister Eugene Wamalwa announced Tuesday (November 27th). “We know many Kenyans in the diaspora had looked forward to taking part in the historic exercise and we have even put a legal framework for that, but due to logistical, financial and time constraints, this will not be possible in the next elections,” Wamalwa said in a statement.

3. What EAC Poll Observers May Find in Kenya

East African Community (EAC) partner states will be sending poll observers to the forthcoming Kenyan elections. The 2007/8 post-election violence (PEV) left few unscathed, and is still fresh in the region’s memory.

Perhaps that’s why the EAC has proposed to deploy a team of over 50 short- and long-term observers to oversee the ongoing electoral process.

4. Church Won’t Cede Control of Its Schools

Education minister Mutula Kilonzo should brace for a bruising battle before the Church cedes control of its schools as proposed in the new Basic Education Bill. The Rev Canon Peter Karanja of the National Church Council (NCCK) on Wednesday said the religious institutions was irked by the proposal which seeks to do away with their sponsorship.

5. Treasury Signs Deal for Electronic Cargo Clearance

Kenya will replace its manual system of cargo clearance with an electronic platform to cut red tape and the cost of transacting international trade. The State Wednesday received Sh298 million ($3.5 million) grant for the project expected to be completed by 2015 and automate border entry points.

6. Equity Testing ATM Withdrawal for Western Union Services

Equity Bank is reportedly piloting a new service that will see it’s account holders able to receive money sent to them via Western Union directly to their bank accounts using Equity’s ATM Machines. According to niaje.com, the service that has not been officially rolled out takes a user through a few steps after they insert their ATM card into the machine and enter PIN.

7. KCB Finance Officer Touted to Replace Oduor as CEO

KCB Bank Group Chief Financial Officer Joshua Oigara is the likely replacement for Martin Oduor-Otieno as the Groups Chief Executive Officer. According to reliable information obtained by Pesatalk, Oigara came top amongst the interviewees in the final shortlist for the position. If confirmed, Oigara will take over from Oduor-Otieno who is set to retire in April next year.

8. Call Rates May Go Up Despite Lower Interconnection Rate

Mobile phone charges might still go up despite the decision by the Communications Commission of Kenya (CCK) to lower mobile interconnection rates. The Standard has reliably learnt that at least two mobile companies are planning to hike prices in the next three months. Two weeks ago, yuMobile’s CEO, Madhur Taneja had said that price hikes would be inevitable if the Mobile Termination Rates (MTR) do not come down. The rates were, however, lowered from Sh2.21 to Sh1.44 per minute by the CCK last Monday, and the implementation backdated to July 1.

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