Posts tagged as: april

No Cheaper Bank Loans Are Expected Soon, Says Official

By Mnaku Mbani

Dar es Salaam — Borrowers should not expect reduced bank loan interest rates soon, despite the dramatic fall in interbank rates and increased liquidity level in the market.

“The liquidity is currently stable, but I am very optimistic that things will remain the same in a while and the lending rates won’t ease soon, said Mr Michael Paul from the Treasury department at Ecobank Tanzania.

Speaking with The Citizen in an interview yesterday he said the impact would be seen by next year, but currently there were signs of increased lending to the market, but not fully-fledged.

The interbank rates, which are the cost of borrowing between banks, have dropped to 3.94 per cent, as of Tuesday this week, the lowest in three weeks from 7.19 per cent in April this year.

The liquidity improvement in the banking sector is a result of stable deposits, as banks have continued increasing time deposit rates to mobilise more funds from the market. The current overall interest rate on deposits has increased to the maximum of 12 per cent from 10.32 per cent recorded in April this year, reflecting bank efforts to attract deposits.

Generally, a fall in interbank rates and increased liquidity levels can give hope for cheaper and more loans, but this depends on the confidence of banks to the market. Bankers say the sector continues to be cautious to lend because of the volatility of the market, especially the recent rise in non-performing loans (NPLs).

The Bank of Tanzania (BoT) has, however, directed banks with high NPLs’ ratio to formulate and implement strategies to reduce it to at most 5 per cent and encourage them to increase the use of the existing credit reference system to reduce risks.

The rising non-performing rates have caused banks to increase their borrowing rates as the BoT’s monetary policy statement for June indicates that they have rose to 17.72 per cent by April this year from 16.03 per cent in June last year.

The BoT’s statement maintains that the banking sector has remained sound, stable and profitable with levels of capital and liquidity generally above regulatory requirements.

Since last year, banks reduced their lending portfolios to various sectors of the economy, with exceptions of personal loans, which have continued remaining stable despite the sector volatility.

With an ongoing tight fiscal policy, Mr Paul believes the interbank rates will continue remaining stable at a single digit.

The Treasury head at one of the largest banks, who spoke on condition of anonymity said the fall in interbank rates was a result of previous interventions by the BoT.

He said the decision by the central bank to reduce discount and statutory money reserve (SMR) rates had boosted liquidity in banking sector.

In March 2017, the discount rate was reduced to 12.0 per cent from 16.0 per cent to ease access to liquidity and in April 2017 the statutory minimum reserve (SMR) requirement on private sector deposits was reduced to 8.0 per cent from 10.0 per cent to broaden the lending base of commercial banks.

During the period, the central bank also injected liquidity into the economy through reverse repo operations, purchase of foreign exchange from the domestic market, inward foreign exchange swaps and provision of short-term loans to banks.

“Last year, banking liquidity was so low, which caused an increase in interbank rates, but now banks have cash and we expect this to push down lending rates,” he said.

Another reason that has caused the interbank rates to go down is reduced government borrowing from the banking sector as well as the cut down of rates for government securities.

When asked whether this would enable normal borrowers to access cheaper loans, the official said it would take a maximum of two years for the banks to revisit their book of accounts and expenses.

Regime change

Other bankers, who spoke to The Citizen yesterday, said a change of regime in 2015, also caused the changing of economic policies that created a different state of monetary and fiscal policies.

“During the fourth phase, the government was borrowing so much from the banking sector compared to the current regime,” said an official from an international bank, who did not want to be named.

He said during the fourth phase government, the borrowing rate through securities were as higher even up to 20 per cent, as the government had high demand for cash.

However, since the fifth government started, things have changed, as expenditure has been cut, while government borrowing through Treasury bills and bonds has also been reduced.

“The fiscal and monetary measures that the current regime is taking have reduced expenditure, which in turn has affected government borrowing from the banking sector,” the bank official said.

Nigeria: 11 DISCOs Pay Below 50% of Total Invoice in 5 Months

By Simon Echewofun Sunday

The energy invoice payment of the 11 Distribution Companies (DisCos) to the Generation Companies (GenCos) is below 50 per cent, with the Abuja DisCo leading with 45 per cent payment in the first five months of 2017.

Serial data published by the Nigeria Bulk Electricity Trading Plc (NBET) with the latest on the market performance on Monday showed that Abuja Electricity Distribution Company (AEDC) was the highest paying DisCo for four months, except January 2017 when it came next to Eko Distribution Company (EKEDC).

According to the breakdown, in January, Eko DisCo paid 45.45 per cent of its invoice figure while Abuja DisCo paid 45.01 per cent. The worst performer was the Jos DisCo which struggled to pay only 14.99 per cent of its invoice.

Those in the median in the month were Ibadan DisCo with 35.10 per cent; Ikeja DisCo with 34.02 per cent; and Enugu DisCo with 33.17 per cent. Kaduna and Kano DisCos struggled with 22.14 and 21.83 per cent while P/Harcourt and Yola made 20.99 and 20 per cent payments.

In February, Abuja DisCo led with 49.99 per cent, Ikeja DisCo trailed behind with 40 per cent payment. Kano DisCo became the lowest by paying 16.03 per cent while Jos DisCo rose to 17.65 per cent. In the middle were Eko DisCo with 39.99 per cent, Ibadan DisCo with 37.50 per cent and Enugu DisCo with 36.29 per cent payment figure.

Abuja DisCo also led with 45 per cent payment in March. It was followed by Eko DisCo 40 per cent and Ikeja DisCo 39.99 per cent.

The lowest was Yola DisCo with 0.0 per cent payment. While Ibadan DisCo maintained 38.24 per cent; Benin DisCo improved to 33.82 per cent; Kaduna, Kano and Jos DisCos were in the low range of 16.34 per cent, 15.74 and 15.00 per cent.

By April, Abuja DisCo maintained 45.02 per cent with Ibadan, Eko and Ikeja DisCos trailing behind with 40.30 per cent and 40 per cent respectively, the data revealed. While Yola DisCo remitted nothing, Kano was still on 15.15 per cent. However, Kaduna and Jos slightly improved with 18.90 per cent and 17 per cent payment levels.

In the fifth month, Abuja still topped with 40 per cent payment level with Ikeja DisCo trailing at 40 per cent. Ibadan DisCo fell to 37.97 per cent and Yola DisCo that was at the bottom for March and April rose to 35.33 per cent. Benin and Enugu DisCos had 33.99 and 31.63 per cent payment levels.

While Kano DisCo slipped to 13.92 per cent, Kaduna DisCo was still at 18.32 per cent and Jos DisCo at 17 per cent. Eko and P/Harcourt DisCos had 29.91 and 24 per cent payment levels.

Nigeria

Buhari Cancels First Meeting Since His Return

The weekly meeting of the Federal Executive Council will not hold Wednesday, according to President Muhammadu Buhari’s… Read more »

Namibia: Whites Reluctant to Participate in HIV Survey – Report

White Namibians are reluctant to participate in the first-ever Namibia population-based HIV impact assessment (Namphia) survey, project coordinator at the health ministry Karen Banda says.

In a recent interview with Nampa, Banda said one of their biggest challenges since the survey commenced in April was that some of the white participants they approached “did not want to be associated with HIV”.

The nationwide survey assesses HIV viral prevention, care and treatment in Namibia in order to assist government to establish how many people are currently infected with the virus, how many new infections are there, and how many infected people are on treatment.

The household-based survey covers approximately 12 000 randomly selected households countrywide. The survey started in April in the Khomas, Erongo and Omaheke regions.

Four teams are currently collecting data in Oshikoto, Otjozondjupa, Hardap, Zambezi and Kavango West, before they move on to other regions.

Banda urged all Namibians who are selected to participate to cooperate as this is a national issue which needs to be tackled by everyone.

Team leader Teofelus Namhando said another challenge was a lack of trust between participants and interviewers, as most interviewees felt it would be easier for them to interact with someone of their race and cultural background.

“Some people refused to speak to us at all as they claim they have private doctors, and shared and received all information from their doctors.”

Despite these challenges, both Banda and Namhando said the process is bearing fruit as those community members who participated were very cooperative and eager to learn more about the virus in general, as well as finding out their HIV status.

The survey is an initiative of the Ministry of Health and Social Services, in collaboration with the Namibia Statistics Agency and the Namibia Institute of Pathology. It is funded by the United States President’s Emergency Plan for Aids Relief (Pepfar), through the US Centres for Disease Control and Prevention. The statistics will be released in 2018.

– Nampa

Namibia

Israeli Tourist Killed in Road Accident

According to Omusati police spokesperson, warrant officer Linekela Shikongo, Amos Gal (72), who was driving the pick-up… Read more »

After 16 Years of Glitz and Glamour, Kemboi Finally Quits Steeplechase

By Elias Makori

After an illustrious career that has seen him bag medals for the last 16 years, Ezekiel Kemboi, the world’s most decorated 3,000 metres steeplechase runner, has quit the track and will shift to the road for his first marathon in April.

The 35-year-old policeman attached to the Presidential Escort Unit, finished 11th in the final of this year’s World Championships here Tuesday night in a dramatic race won by Kenya’s Olympic champion Conseslus Kipruto.

Kemboi boasts of being the only athlete who has won four consecutive world track medals in the same event which come alongside two Olympic gold medals.

He has a personal best time of seven minutes, 55.76 seconds which he clocked in Monaco on July 22, 2011.

His longest race up the distance so far has been the 5,000m where he has a personal best time of 13:50.61 also clocked in 2011.

“It was my final steeplechase race and in next year April, I will run in my first marathon – I’m done with the 3,000 metres steeplechase,” Kemboi said but would not divulge details of which marathon he has signed him up.

The Boston and London marathons are the the traditionally big marathons in the month of April.

Kipruto, like Kemboi attached to the Kenya Police Service, won the race in 8:14.12 with Morocco’s Soufiane Elbakkali (8:14.49) bagging silver and America’s pre-race threat Evan Jager (8:15.53) taking bronze.

Kemboi’s 11th place time was 8:29.38.

HAPPY TO STEP OUT

Having earlier quit after bagging bronze at last year’s Olympics, the charismatic Kemboi rescinded his decision after being stripped of the medal for a lane infringement and says he wasn’t disappointed at all for not making the podium in London.

“This is my eighth World Championship and for the other guys it’s the second or third, so I’m happy because its been a long career.” “Four times world champion, two times Olympic champion… this makes me happy.”

Interestingly, when Kemboi won his first major race, at the 2001 Africa Junior Championships, Kipruto was just seven years old.

Little wonder Kemboi’s nickname is “Baba Yao”, or the father of them all, in reference to his status among Kenyan athletes.

“It’s been a long and rewarding career,” he said and would not be drawn into saying which has been the best race of his steeplechase career.

“Each and every race is my best,” he said, adding that he’s happy he’s left steeplechase, Kenya’s stronghold, in good hands but warned it won’t be business as usual.

“We have to modify our training and coach the athletes coming up properly.”

Spectator-Friendly Route Excites Marathoners, Fans

By Bernard Rotich

Several factors make this year’s world championships marathon special.

For the first time, both men’s and women’s races will be run on the same day, the men’s race Sunday morning and the women’s later in the afternoon.

The men start off at 10.55am (12.55pm, Kenyan time) while the women’s race will commence at 2pm (4pm, Kenyan time).

Unlike the point-to-point annual London Marathon, the championship marathon races will basically be four, spectator-friendly 10-kilometre loops that allow fans to see the athletes four times in the race. The race begins and ends at the Tower of London with International Association of Athletics Federation President Seb Coe describing the course as “utterly unique.”

“The marathon is set to be an unbelievable spectacle within the city. The course is utterly unique and will provide an atmosphere second to none,” Coe said at the unveiling of the route.

Kenya’s “team leaders” Daniel Wanjiru and Edna Kiplagat will have the psychological edge here, having previously won the London Marathon, with Wanjiru triumphing on his debut here last April.

Wanjiru is looking forward to an easy run since the 10km loop “is like training” for him.

“I was here in London for the marathon in April, but the course this time round is a 10km loop. I will be running as if I’m just training. I’m well prepared for the race and I don’t fear anybody,” said Wanjiru.

Wanjiru added that he will be happy to see the same fans who supported him in April cheering him on Sunday, which will motivate him more.

“The fans who saw me run in April will be eager to know how I will be running, and I think they will cheer well which will be a boost for us since we will be running as a team,” said Wanjiru.

Despite Kenya topping the medals table at the last championships in Beijing two years ago, the men’s team did not deliver any marathon medal after Ghirmay Ghebreslassie from Eritrea spoiled the party by winning the gold medal ahead of Ethiopia’s Yemane Tsegaye and Solomon Mutai from Uganda. The team is optimistic that this will change and that they could possibly sweep the podium.

Besides having won here before in the big city race, Kiplagat’s world championships experience will hold her in good stead. She won the world gold in 2011 (Daegu) and 2013 (Moscow) and is chasing a hat-trick.

“Going back to the streets of London makes me happy because I’m prepared to face the world,” she told Saturday Nation.

“My training back home was fine and Sunday being our big day, we have to do our best,” said Kiplagat, whose husband Gilbert Koech is also a former city marathon champion.

Others in Kenya’s marathon charge are Helah Kiprop, silver medallist in Beijing in 2015, and Commonwealth Games champion Flomena Cheyech.

Besides Wanjiru, Boston Marathon champion Geoffrey Kirui and last year’s Mumbai Marathon champion Gideon Kipketer are in the men’s team.

Kenya

Three Arrested in Uganda Over Msando Murder

Police in Uganda say they have impounded a vehicle and arrested a Kenyan and two Ugandans in connection with the murder… Read more »

Zimbabwe: Gold Panners Bomb Rival to Death

Photo: Daily News

Gold panner with soil grains containing gold (file photo).

Zvishavane — Five men brutally assaulted a gold panner in a row over gold ore at Sabi Mine in Zvishavane and threw explosives at him after he dived into a dam, a magistrate’s court has heard.

Brian Bushe, 21, was killed in April in gold wars that erupted at Sabi Gold Mine.

After the murder, Bushe’s parents dumped his body at the home of one of the suspect and refused to bury him demanding 40 herd of cattle.

The deceased was later buried after the suspects had given seven cattle to his parents with negotiations to pay the remaining 33 beats still ongoing.

Four of the suspects, Omega Ziwa, 20, Godknows Sibanda, 22, Munashe Mtetwa, 22 and Alpha Shava, 21 were denied bail except Bothwell Moyo, 30 with Zvishavane magistrate, Shepherd Mnjanja remanding all of them to August 7.

Prosecutors told the court that on April 27 this year, Ziwa, Sibanda, Mtetwa, Shava and Moyo were proceeding to Sabi Gold Mine for illegal mining when they met Bushe, who was in the company of his colleagues.

A misunderstanding arose between the rival groups and the five accused allegedly assaulted Bushe with machetes, stones and sticks all over the body.

Bushe’s friends ran away from the scene and he (Bushe) later escaped from his attackers and dived into South Devon Dam.

Court heard that the assailants surrounded the dam and threw explosives at Bush leading to his death.

Zimbabwe

Land Reform – Mugabe ‘Getting Undue Credit’, War Vets Claim

Zimbabwean war veterans have reportedly claimed that President Robert Mugabe is improperly getting credit for the… Read more »

LSK to Join Chase Bank Suit in Pursuit of Sh2 Billion Clients’ Cash

By Brian Wasuna

The Law Society of Kenya (LSK) has applied to join a suit in which troubled Chase Bank is seeking to recover more than Sh14 billion its former directors stole from depositors.

The LSK says it is interested in the recovery of about Sh2 billion that individual advocates and law firms are said to have kept in the bank on behalf of their clients as well as its own deposits of Sh38 million at the time the troubled lender was placed under receivership in April last year.

It has included in its application supporting the suit by the Kenya Deposit Insurance Corporation’s (KDIC) — the bank’s receiver managers — a list of advocates and firms whose funds are tied down in the bank and their letters asking for the lobby’s assistance in recovering the funds.

“The said list does not set out all sums due by the bank to individual advocates and law firms but it is clear that the amounts due exceed Sh2 billion. As at the time Chase Bank was placed under receivership LSK itself has a fixed deposit account (Sh22.828 million) and a current account (Sh15.5 million),” the LSK says.

The LSK says that part of the Sh38 million it had at Chase Bank was for its benevolent fund, indicating that the lender’s troubles could spill over to the LSK’s philanthropic activities.

The KDIC is seeking to recover Sh14 billion from nine individuals and 11 companies accused of looting of depositor funds. Chase Bank collapsed last year on the day it published its restated financial results that showed it had under-reported insider loans by Sh8 billion.

It was placed under receivership following discovery of the under-reported insider loans and irregular transfers of funds to senior bank officials.

Former Chase Bank chairman Zafrullah Khan, ex-managing director Duncan Kabui and other former senior bank officials have been charged with theft of depositor funds.

Justice Fred Ochieng in April issued a temporary order barring the defendants from selling assets at the heart of the court battle.

Chase Bank says Mr Khan, Mr Kabui, former general manager corporate assets James Mwaura and former general manager finance Makarios Agumbi used their positions to illegally acquire and benefit from the bank’s assets it now seeks to recover. Also included in the suit are Chase Assurance and Ghengis Capital managing director Ali Cheema, Rafiki Microfinance chief finance officer Daniel Mavindu and managing director Ken Obimbo, former directors Anthony Gross and Ruth Muthoni, and a network of 11 companies said to have been used to siphon funds from the collapsed lender.

Kenya

How Election Body Will Prevent Poll Rigging

The system to be used in identifying voters and sending results was successfully tested on Wednesday as the election… Read more »

Zimbabwe: Govt Domestic Borrowing Up 40% in May – Central Bank

Government borrowing from the local market jumped nearly 40 percent in May this year, driving an increase in domestic credit by 21,1 percent on an annual basis to $8,45 billion from $6,98 billion, latest data from the central bank shows.

“The surge in net credit to government (by 38,67 percent), shows the fiscus’ heavy reliance on the banking sector, to finance its operations, on the back of subdued revenue collections,” RBZ said.

“In addition, the growth in credit to government also reflected banking sector holdings of Treasury bills, bought at a discount on the secondary market.”

In May, commercial banks and building societies held government securities, either treasury bills or bonds, worth of $1,74 billion and $168,2 million respectively, while other depository corporations held $1,97 billion worth of government securities.

However, credit to the private sector remain depressed, recording an annual growth of 1,99 percent to $3,5 billion from $3,4 billion.

Finance minister, Patrick Chinamasa, in his MidTerm Budget Review last week said domestic debt has since grown to $4 billion as at December 2016.

The RBZ said Zimbabwe’s annual broad money supply grew by 23,24 percent in May to $6,2 billion, driven by an increase in transferable deposits.

Transferable demand deposits grew by 29,85 percent, offsetting a 14,28 percent and 0,07 percent decline in negotiable certificates of deposits and time deposits.

Broad money supply (M3), a measure of the money in circulation which includes physical currency and demand deposits, increased by 1,37 percent from $6,11 billion in April.

In terms of composition, broad money comprised of transferable or transitory deposits and time deposits which account for 71,04 percent and 25,13 percent respectively while bond notes, coins and negotiable certificates of deposits contributed 2,83 percent and 0,99 percent in that order.

Additionally, the value of transactions processed through the National Payments System (NPS) increased by 21,2 percent to $8,4 billion in May, from $6,95 billion recorded in April, largely on the back of an increase in RTGS transactions.

The value of transactions processed through the RTGS system increased by 19 percent to $4,9 billion in May from $4,1 billion in the previous month.

In the same period, cash transactions declined by 6,3 percent to $430,67 million from $459,61 million in April.-The Source

Zimbabwe: Maize Production Up 280% – Report

By Felex Share

The 2016/17 agricultural season registered a 280 percent increase in average household maize production from the previous year, the latest Zimbabwe Vulnerability Assessment Committee (ZimVAC) report reveals. The 2017 ZimVAC Rural Livelihoods Assessment Report said as a result of the massive maize production, only one percent of the rural population was food insecure between April and June.

This is an 83 percent reduction compared to the same period last year.

According to the report, Government’s well thought out policies namely Command Agriculture and Presidential Input Scheme coupled with a good rainfall season provided the much needed impetus for an improved rural food security situation.

ZimVAC is a consortium of Government, United Nations agencies, non-governmental organisations and other international organisations.

The committee’s assessments have become key reference documents for humanitarian and development intervention programming by Government and development partners.

Reads the report: “Nationally, there was a 266 percent increase in average household cereal production, 280 percent increase in average household maize production and 157 percent increase in average household small grains production from last season.

“Considering the high household cereal production and findings from previous ZimVAC assessments, which indicated that most households use improper facilities to store their grain, there is need to foster good post-harvest management to minimise potentially high post-harvest losses. The average household production was in Mashonaland West (739,2kg) and the least in Matabeleland South (174,5kg). Masvingo had the highest increase from 42,3kg to 356kg and Mashonaland West had the least increase from 397,6kg to 739,2kg.”

Over 80 percent of households in all the provinces planted maize.

On food insecurity, the report indicated that the numbers of insecure households had significantly decreased.

“Rural food insecurity for the period April to June 2017 was estimated at one percent and is projected to reach 11 percent during the peak hunger period (January to March 2018),” reads the report.

“As expected, there is a progressive increase in the proportion of food insecure households as the consumption year progresses towards the peak hunger period. About 1,1 million rural people are estimated to be food insecure during the peak hunger season.”

About 4,1 million people were food insecure during the peak hunger season last year.

Provinces with areas expected to be food insecure during the 2017/18 consumption year include Matabeleland North, Matabeleland South and Midlands.

The report indicated that maize, groundnuts and cowpeas were the most common planted crops by households.

“The proportion of households growing small grains remains low despite all the efforts and rhetoric to promote the growing of these crops,” reads the report.

“There was a general increase in the proportion of households that planted all crops. The greatest increase was in the proportion of households that grew tobacco and cotton due to support these crops got from the private sector and Government respectively. As in previous seasons, Matabeleland North, Matabeleland South and Masvingo had high proportion of households which grew small grains in the 2016/2017 agricultural season.”

The report notes the need to capacitate agricultural extension services.

“The proportion of households receiving agricultural training has remained relatively low for the past three years at 38 percent in 2014/15, 35 percent in 2015/16 and 34 percent in 2016/17,” reads the report.

“Government was reported as the most common provider of crop extension services in all provinces (88 percent) followed by NGOs (7 percent).”

Other support services were offered by lead farmers.

Public Service, Labour and Social Welfare Minister Prisca Mupfumira yesterday while her ministry had welcomed the assessment report, social welfare officials were working with provincial administrators to update their registers.

This, she said, would ensure all deserving people got necessary assistance.

“We have received the report and I have presented it to Cabinet for approval, dissemination and use by all stakeholders,” she said.

“Our teams will go out in provinces and make their quantifications also. To sum it up, preparations are underway to commence the food deficit mitigation programme for vulnerable households for the period 2017 to 2018. This week there was a workshop that brought together stakeholders to prepare for the implementation of the programme.”

ZimVAC reports provide updates on pertinent rural livelihoods issues such as education, health, food and income sources, income levels, food security among others.

This year’s report was prepared using data collected from 11 858 households, 4 422 children and 1 170 community group discussions from districts in the country’s eight rural provinces.

Nairobi Workers Tell of Harrowing Ordeals Following Pay Delay

By Lillian Mutavi

As the pay row at City Hall rages, workers with patients admitted to hospitals are the most affected, the Nation has learnt.

Some county staff who spoke to the Nation on Wednesday, on condition of anonymity, narrated of harrowing ordeals they have been subjected to, as City Hall has not remitted National Hospital Insurance Fund (NHIF) money.

On Wednesday, Niarobi County services were paralysed as the workers protested their delayed April salaries due to an impasse between Central Bank and Kenya Revenue Authority (KRA) on one side against the County government on the other side.

According to one of the workers, his spouse has been detained at Nairobi West Hospital as he has been unable to offset bills because no money has been remitted to his NHIF account.

In a hospital form from the Nairobi West Hospital seen by the Nation, the worker has been informed in the membership segment that the current contribution is in arrears and he is not covered for the services offered.

“Current contributions in arrears. This member is not covered for the services (Apr NOT PAID),”read the form.

13,000 WORKERS

A former branch secretary the workers’ union, Edward Peter Nyerere, said that all workers who had patients including family members admitted in the month of May are detained at hospitals and are in debts over arrears in payment of NHIF.

Mr Nyerere said that he could not ascertain the number but with such a huge workforce of over 13,000 with families, those affected are many.

Services paralysed on Wednesday included parking, markets, licences, city mortuary, garbage collectors and inspectorate departments.

The Kenya Union workers union chairman Nairobi branch Bernard Inyangala said that the county had said that the dispute between the county and KRA did not involve them and all they want is their pay.

Workers missed their April salaries following the standoff between KRA and City Hall after CBK transferred money to the taxman which the county says was meant to pay it workers.

ADVANCE LOAN

The devolved unit spends about Sh1.3 billion to pay its 13,000 workers.

However the county received an advance of Sh1.021 billion from treasury on Tuesday with county secretary Robert Ayisi saying workers had been paid terming their strike illegal.

According to Dr Ayisi, workers with accounts at Cooperative bank and Nacico will receive their salaries today as the county had already deposited Sh1 billion.

“While those in other banks will receive there’s tomorrow because of clearance procedures. Everybody should go back to work there is no cause for alarm and unnecessary picketing,” said Dr Ayisi.

Kenya

Former President Kibaki’s Bodyguard Sues For 2002 Accident

A bodyguard involved in a road accident with former President Mwai Kibaki has alleged in a court case he was mistreated… Read more »

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