YOU AND I FOUNDATION

YOU AND I FOUNDATION

2/13/2025, 7:15:00 AM

*Say THANK YOU!* Make it a habit to tell people thank you. To express your appreciation, sincerely and without the expectation of anything in return. Truly appreciate those around you, and you'll soon find many others around you. Truly appreciate life, and you'll find that you have more of it. https://whatsapp.com/channel/0029VaBcBIRAzNbtD1l1eA1k

YOU AND I FOUNDATION

2/13/2025, 5:44:11 AM

*Today’s News Highlights* ▪ *IFC expands Kenya portfolio by Sh51bn* The International Finance Corporation (IFC) invested an additional $400.56 million (Sh51.76 billion) in Kenyan companies in the form of loans, guarantees and equity stakes in the year ended June 2024, entrenching the institution’s portfolio in the local market. Disclosures for the financial year to June 2024 shows that IFC’s investments to the local private sector rose to $5.4 billion (Sh 697.82 billion at current exchange rates) in the review period compared to the previous year’s $4.99 billion (Sh633.4 billion at prevailing exchange rates). ▪ *Boon for coffee farmers as CMA now caps auction service fee at 1.8 percent* The Capital Markets Authority (CMA) has capped the service fees on the gross value of crops traded on the Nairobi Coffee Exchange(NCE) at a lower 1.8 percent, marking savings for growers who market their produce through the weekly action. Kenya’s coffee is marketed either through the sale at the NCE or sold directly to buyers abroad. The changes under the newly gazetted Capital Markets (Coffee Exchange) (Fees)Regulation,2024 mean that service provider fees fall from the previous cap of 2.1 percent of the gross value of the traded crop. ▪ *Top banks step up interest rate cuts amid CBK pressure* Top banks are scrambling to cut lending rates days after the Central Bank of Kenya (CBK) warned of daily fines as a punishment for failure to lower the cost of loans for individuals and businesses. Equity Bank of Kenya, KCB Bank Kenya and Co-operative Bank of Kenya have publicly announced cuts on their lending rates by between one and three percentage points, signalling a thawing of the standoff between them and the regulator. ▪ *Motorists face new vehicle insurance, congestion taxes* Motorists face higher costs of operating their vehicles as the government plans to reintroduce controversial taxes on insurance premiums and carbon emissions to shore up revenues for road construction and maintenance. The Ministry of Transport has disclosed the plan to reintroduce car insurance premium tax and congestion levy in a National Tolling Policy published on Tuesday this week—marking a return of the revenue-raising measures that were shelved last year amid youth-led street protests against the Finance Bill, 2024. ▪ *Kenya’s food import bill drops 12 percent* Kenya’s food import bill has fallen for the first time in four years, reflecting improved local output of crops such as maize and sugarcane on the State input subsidy programme amid relatively favourable weather. Expenditure on food from abroad dipped by a double-digit rate to an estimated $2.065 billion (about Sh266.39 billion) in the year ended last December, provisional data from the Kenya Revenue Authority and Central Bank of Kenya shows. _Courtesy: Business Daily_ https://whatsapp.com/channel/0029VaBcBIRAzNbtD1l1eA1k

YOU AND I FOUNDATION

2/14/2025, 8:46:43 AM

On this Valentine's Day, many are celebrating love, but whether you're with someone or not, don't let societal pressures overwhelm you. It's important to remember that your worth isn't defined by this day. There are people out there who appreciate you and cherish your presence in their lives, even if they haven't expressed it. Embrace the love that exists around you, whether it's from friends, family, or yourself. This day can be a reminder to celebrate all forms of love, so take a moment to appreciate your unique journey and the positive impact you have on others. Happy Valentine's day!

YOU AND I FOUNDATION

2/13/2025, 6:19:19 PM

Knowledge is power #FinancialLiteracy

YOU AND I FOUNDATION

2/11/2025, 12:30:21 PM

Love is not something that requires us to constantly prove our worth or strive for perfection. Those who truly love us see us with their hearts, appreciating our essence beyond our flaws and imperfections. On the other hand, those who do not wish to love us will never be satisfied, no matter how much we try to meet their expectations. This highlights the importance of letting go of the need for external validation and embracing our imperfections, as they are what make us unique and relatable. True love is unconditional—it sees us for who we are, not who we try to be. Self-acceptance, therefore, becomes the foundation for meaningful connections and inner peace. https://whatsapp.com/channel/0029VaBcBIRAzNbtD1l1eA1k

YOU AND I FOUNDATION

2/14/2025, 8:21:24 AM

*Today’s News Highlights* ▪ *Treasury raises domestic borrowing by Sh181 billion* The Treasury has adjusted its domestic borrowing costs upwards by Sh180.6 billion to finance its Sh3.973 trillion budgets amidst flagging tax revenues. Projections in the Budget Policy Statement 2025, or BPS 2025, show that net domestic borrowing target is now Sh593.7 billion from Sh413.1 billion, as the government takes advantage of the lower interest rates to ease its financing pressures. Interest rates had risen, with investors lending the government at a high of 18 percent with the Central Bank of Kenya's effort to fight high consumer prices, reducing liquidity in the market. ▪ *CBK raises Sh130 billion from Feb infrastructure bonds* The Central Bank of Kenya (CBK) has raised Sh130 billion for the government from two reopened infrastructure bonds (IFBs) whose auction closed on Wednesday, after investors oversubscribed the offer amid expectations of interest rates coming down in the near term. The reopened IFBs on sale comprised 14-year and 17-year papers which were initially sold in November 2022 and March 2023 respectively. Buyers offered the Central Bank of Kenya (CBK)—the government’s fiscal agent— a total of Sh193.9 billion against a target of Sh70 billion, eyeing the relatively high coupon rates on the papers (compared to prevailing secondary market yields). ▪ *Chaos as USAid contracts, grants in Kenya terminated* The US government has begun issuing notices terminating contracts and grants to programmes it funds through non-governmental organisations (NGOs) in Kenya, marking an escalation from an earlier directive by President Donald Trump freezing billions of dollars in overseas aid support for 90 days. The United States Agency for International Development(USAid) on Wednesday sent termination notices to several top NGOs it funds in Kenya—sparking chaos of job losses and potential lawsuits by service providers, landlords, and contractors who had been tapped by the organisations. ▪ *Kenya targets issuing first Sh65bn sustainability-linked bond by June* Kenya is set to issue its first sustainability-linked bond by June, targeting to diversify financing sources to cover the annual budget deficit. Sustainability bonds proceeds are exclusively used to finance or re-finance projects that improve social and environmental sustainability. The Sh65 billion sustainability-linked bond has been included for the first time under projected changes to the 2024/25 budget which runs to June 30, 2025. Sustainability-linked bonds are securities whose key performance indicator is linked to the issuer’s achievement of climate or broader sustainable development goals (SDGs). ▪ *Imports to raise current account deficit by Sh135bn* Kenya’s current account deficit is expected to widen by $1.04 billion (Sh134.9 billion) in 2025 on higher imports, but will remain below the projected medium-term average of four percent of GDP, the central bank says. The Central Bank of Kenya (CBK) said last week that the deficit was estimated at $ 4.54 billion (Sh587 billion) at the end of 2024, equivalent to 3.7 percent of GDP, but will rise to $5.59 billion (Sh721.9 billion), or 3.8 percent of GDP, by the end of this year. _Courtesy: Business Daily_ https://whatsapp.com/channel/0029VaBcBIRAzNbtD1l1eA1k

YOU AND I FOUNDATION

2/14/2025, 10:46:36 AM

A relationship lasts long when two people make a promise to never give up on each other. Love means making a promise and keeping it with all your heart. True love is built on promises, trust, and unwavering faith in each other.

YOU AND I FOUNDATION

2/14/2025, 8:51:13 AM

https://chat.whatsapp.com/JOTHPLT7s27FAJbRMzUVAs Click the link to follow YOU AND I FOUNDATION WhatsApp group.

YOU AND I FOUNDATION

2/12/2025, 5:38:12 AM

*Today’s News Highlights* ▪ *Treasury seeks Sh200bn budget top-up amid weak tax collections* The National Treasury is set to seek the approval of MPs to lift the budget for the fiscal year to June by Sh199.9 billion on the back of underperformance in tax collections, pointing to the likelihood of increased borrowing to cover the widening funding gap. The Cabinet approved the proposed second supplementary budget estimates covering the 2024/25 fiscal year with the top-up set to lift overall expenditure and net lending for the period past the Sh4 trillion mark, up from Sh3.88 trillion currently. ▪ *16 listed companies fail to issue investor calendars* Sixteen listed firms are yet to issue investors with a forward-looking events calendar for 2025, a month from the January 10 deadline. A spot-check of listed firms’ investor relations pages and the Nairobi Securities Exchange (NSE) investor calendar webpage as of Tuesday afternoon showed that 46 of the 62 listed entities had made the voluntary disclosure, with the rest being mostly suspended companies. The disclosures are, however, voluntary implying that the 16 firms will not be facing sanctions from the Capital Markets Authority (CMA) for non-compliance. ▪ *The Cabinet raises limit for untaxed traveller items* The Cabinet has approved a higher value of personal effects that travellers can bring into Kenya without being taxed, offering relief to those inconvenienced by seizures by tax agents at various ports of entry. The move is expected to benefit many citizens who come back with goods of small value from abroad. “Kenyan citizens will benefit from an increased duty-free threshold of goods brought into the country, which has now been increased from Sh50,000 to Sh250,000,” a statement following the Tuesday special Cabinet meeting noted. ▪ *Insurers report first medical underwriting profit in three years* General insurers have posted underwriting profit from medical insurance covers for the first time in three years, offering a boost to a segment that has been struggling to stem out fraud from this business. Latest Insurance Regulatory Authority (IRA) data shows insurers posted a Sh397.23 million underwriting profit in the half-year ended June 2024, marking an improvement from a loss of Sh399.7 million they made in a similar period in 2023. The Sh397.23 million underwriting profit —premiums remaining after claims have been paid and administrative expenses deducted— is the first profit in this class of insurance since the Sh80.43 million posted in the year ended December 2021, helped by Covid-19 disruptions that put off many people from visiting hospitals. ▪ *Galana Energies bags Sh1bn diesel deal* Galana Energies bagged a Sh1.105 billion deal to supply diesel for the Menengai and Baringo-Silali geothermal projects, lifting the veil on lucrative contracts for local oil firms taking on cash-rich multinationals. Disclosures by the Geothermal Development Company (GDC) show that Galana was already supplying the fuel by the end of last year. The contract period is, however, undisclosed. The deal is a major boost to the local oil firm given that it is one of the scores of the Kenyan oil firms that are fighting stiff competition from well-oiled multinationals for the fuel retail market. _Courtesy: Business Daily_ https://whatsapp.com/channel/0029VaBcBIRAzNbtD1l1eA1k

YOU AND I FOUNDATION

2/11/2025, 5:58:02 AM

*Today’s News Highlights* ▪ *Housing levy cash invested in T-bills hits Sh46 billion* The value of cash collection from the affordable housing levy funds invested in short-term government securities has risen to Sh46 billion, signaling low absorption of the mandatory monthly contributions from workers and employers towards President William Ruto’s pet project. The Affordable Housing Board, the agency that oversees the development of houses and their off-take, says the billions of shillings are being invested in three-month Treasury bills instead of idling in accounts awaiting expenditure. The amount invested in the 91-day Treasury bills has doubled from Sh20 billion in May last year. ▪ *Co-op Bank cuts base lending rate to 14.5pc* Co-operative Bank of Kenya has cut its base lending rate by two percentage points to 14.5 percent, marking its first major reduction in the price of loans since the central bank started lowering its benchmark in August last year. The Nairobi Securities Exchange-listed lender announced Monday morning that it has cut its base rate from 16.5 percent, with the reduction taking effect immediately. ▪ *Pension schemes’ returns jump to 28pc* Pension savers are set to reap big after their funds recorded the highest annual returns in 12 years, backed by a good performance from equities and fixed income investments. A survey of pension returns done by fund administrator Zamara shows that the average annual return for pension funds stood at 28.8 percent last year, up from 1.6 percent in 2023. This is the highest overall return recorded by the funds since 2012 (28.4 percent), showing the positive translation of last year’s rally in share prices at the Nairobi Securities Exchange (NSE) on savers’ funds. ▪ *CMA moves to curb speculative trading in troubled companies* The Capital Markets Authority (CMA) has approved new trading rules for troubled firms listed on the Nairobi Securities Exchange (NSE) in the latest changes seeking to enhance the operations of a special board established to host companies grappling with financial and governance challenges. The changes include a reduction in the daily trading limit for stocks of troubled firms from 10 percent to five percent and introduction of the special board known as recovery board (RB) in every market segment (Main Investment Market Segment (MIMS) and the Small and Medium-sized Enterprises (SME). ▪ *S. Africa investor loses bid to freeze Genghis accounts* Nairobi-based investment bank Genghis Capital got a reprieve after a court rejected an application seeking to freeze its bank accounts over a debt feud with a South African businessman. Justice Alfred Mabeya rejected the application by Auswel Mashaba, seeking to freeze Genghis Capital bank accounts and at the same time, block the investment bank from selling its assets. According to the South African investor, Genghis Capital was disposing of its assets to defeat his pending claim of about Sh355 million. _Courtesy: Business Daily_ https://whatsapp.com/channel/0029VaBcBIRAzNbtD1l1eA1k