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Immediately I put the bible down, he said. Useless.
Wakwende kabisa
This is wat was expected sijui why people are bitter , jsks was called jsks for a reason . Tulieni , mambo bado .
Underestimated the size of the task… Sasa wameanza kejeli…[ATTACH=full]498801[/ATTACH]
Gari iko na shida ya tyres. Mech akianza kutoa engine, you have to be worried. Nabii wa uongo. Bure kabisa Ngombe ici
All said and done, this is a much more genuine team than azimio n Konyagi n family.
Hii ya Konyagi hiding behind raila n sneaking in team cherera was having a hidden agenda
azimio n konyango are not in charge anymore…are they still the excuse for the fake prayer sessions? :D:D:D:D
It’s like you having problems with my ex and calling me to come to help you tame her…
[SIZE=7]Kenya turns to Tanzania for dollars as the country experiences a dollar shortage[/SIZE]
CHINEDU OKAFOR
March 3, 2023, 4:45 PM
[ul]
[li]Several Kenyan firms are turning to Tanzania for their dollar supply. [/li][li]This is because Kenya’s commercial banks are running low on US dollars.[/li][li]The shortfall results from increased exports of raw materials and equipment following the economy’s recovery.[/li][/ul]
Due to the fact that Kenya’s commercial banks are running low on US dollars, some Kenyan businesses have begun obtaining dollars from Tanzania and other nearby nations.
[ul]
[li]Markets Kenyan businesses struggle as banks run out of US dollars[/li][/ul]
Owing to the lack of US dollars, it has been challenging for manufacturers and importers of general items to fulfill their responsibilities. Following the eventual shortage of dollars and a rush to protect reserves, the Central Bank of Kenya (CBK) ordered commercial banks to restrict the number of dollars they give out.
Many currency merchants and importers claim that banks have placed a daily limit on dollar purchases of as little as $5,000 because businesses are finding it difficult to get enough foreign currency to meet their supply needs. Due to the shortage, industrialists are now compelled to look for dollars daily and from many lenders to meet their monthly hard currency demands. This makes it more difficult for them to maintain good supplier relationships and bargain for favorable rates in spot markets.
Banks, especially the largest institutions, running out of dollars shows that the currency problems that began in the middle of last year with lenders rationing limited dollars have gotten worse.
“We are now scavenging for dollars. Only half of every six banks we call daily for dollars will have something for us. Three of the banks will ask us to check later,” said a top executive of a manufacturing firm who sought anonymity for fear of reprisals from the Central Bank of Kenya (CBK).
“What is available at banks is between $5,000 and $10,000. One will be fortunate to get $20,000 and extremely lucky to get $50,000 from a single bank. This is crazy for a business that requires $1 million monthly for supplies and we are getting each dollar at Sh137,” he added.
Importers claim they are compelled to purchase dollars at a rate of Sh137 or more since they are unable to access them at the official buy rate of Sh127.39.
Leading companies have begun trading dollars among themselves, and those in need of hard money are showing an interest in hotels and aviation companies. This is breaking the law and fostering a parallel dark market that could lead to several economic issues, such as deterring foreign direct investment (FDI), promoting rent-seeking, and shrinking the interbank FX market.
Some lenders acknowledged the dollar purchase caps but chose not to publicly declare it for fear of reprisals from the CBK. Industry leaders claim that their limited access to sufficient hard currency significantly impacted their capacity to make timely payments to foreign suppliers.
The industrialists’ organization claimed that the dollar crisis has harmed relationships with suppliers at a time when global competition for raw materials has increased as a result of rising demand and persistent supply chain restrictions.
The shortfall results from increased exports of raw materials and equipment following the economy’s recovery, which is driving up dollar demand.
This was predicted here:
Tenants occupying various commercial spaces in Westlands, Kilimani, and Karen would be forced to pay more due to landlords’ demand for rent in US dollars.
According to Cytonn 2023 Market Outlook, Nairobi business people and companies occupying retail office spaces would be subjected to a 1.5 per cent rent increase.
Explaining the increase, Cytonn, a real estate company, attributed the sharp rise to the weakening effect of the Kenyan shilling against US dollar.
Th
This doesn’t make sense. I thought in this day of ChatGPT payments are made by electronic funds transfer. Ama bado watu hubeba briefcase zimejaa pesa kwenda kulipia bidhaa imported? Pretty fishy narrative…
Cherargei is an idiot whose verbal diarrhea should be ignored. He is a lawyer who exhibits traits of the semi-illiterate cabal led by akina Lotodo that operated under Mo1.
Wah Kenyans are brutal. Ati wanasema nabiiress ni mwizi kama bwanake. Awache kujicha nyuma ya bibilia.
I rather have a praying first lady than Ida
Louder, few correct words
:D:D:D:D
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[SIZE=7]CS Moses Kuria Says Kenya Shilling to Strengthen Against US Dollar, Exchange at Sh85[/SIZE]
By John Wanjohi Sat, 03/04/2023
https://www.mwakilishi.com/sites/default/files/styles/large/public/2023-03/Kuria-Moses.jpeg?itok=od9MeA3n
Investments, Trade, and Industry Cabinet Secretary Moses Kuria has expressed confidence that the Kenya shilling will soon strengthen against the US dollar.
Through Twitter on Saturday, Kuria pointed out that the Kenya Kwanza administration is putting up measures to prevent the shilling from falling further to the dollar.
He mentioned that his Energy and Petroleum counterpart Davis Chirchir is “working hard to restructure the fuel supply chain in order to ease the pressure on the Shilling.”
“He is imminently succeeding after which I see an exchange rate of Sh85 to the dollar,” Kuria tweeted.
The dollar is currently exchanging at Sh128 on average.
In its weekly bulletin on Friday, the Central Bank of Kenya (CBK) indicated that the Kenya Shilling remained stable against major international and regional currencies during the week ending March 2nd.
“It exchanged at KSh127.29 per US dollar on March 2, compared to KSh126.27 per US dollar on February 23,” CBK noted.
CBK added that the usable foreign exchange reserves remained adequate at USD 6,605 million (3.69 months of import cover) as at March 2nd.
“This meets the CBK’s statutory requirement to endeavor to maintain at least 4 months of import cover,” the bank added.
On February 25, Kuria caused an international stir after he remarked that the China Square store, which is owned by a Chinese national Lei Cheng, should be shut down.
A day later, Kuria clarified that he was not against foreign investors by stating, “We welcome Chinese investors to Kenya as manufacturers, not traders.”
Deputy President Rigathi Gachagua on March 2, further clarified that the country was open to international investors.
“We understand the importance of the international community and as a government, we will not make any rash decision that will antagonize our trade partners,” the DP remarked in a meeting that was also attended by Foreign CS Alfred Mutua and Interior Security CS Kithure Kindiki.
The CS traveled to Doha in Qatar where he held a high-profile meeting on Sunday, March 05.
During the Doha meeting, Kuria touted Kenya as the ideal hub for Qatari businessmen to invest.
While meeting Qatar Chamber First Vice-Chairman Mohamed bin Twar Al Kuwari, the two countries discussed means to enhance economic and commercial relations between the two nations.
https://www.kenyans.co.ke/files/styles/article_inner_mobile/public/images/media/Qatar.jpg?itok=Wl8XWm1j
Qatar Chamber First Vice-Chairman Mohamed bin Twar Al Kuwari (right) meets Trade CS Moses Kuria (left) in Doha, Qatar on March 5, 2023.
According to the Peninsula, a Qatari media outlet, Kuwari and Kuria further reviewed the investment climate and opportunities available in Kenya and Qatar.
While heralding the opportunities available in Kenya, Kuria revealed that Qatari businessmen could invest in; food security, agriculture, energy, infrastructure, petrochemicals and housing.
Kuria further invited Qatar nationals to visit Kenya to explore investment opportunities.
He assured that the government would provide foreign investors with incentives, especially those willing to invest in Special Economic Zones (SEZ).
On Qatar side, Kuwari revealed that his country was open to enhancing cooperation between Qatar nationals and Kenyans.
M kiratu
Sun, 03/05/2023
I have said it before. I was praying this is not another baba yao. He is proving me wrong every time he opens his mouth. Is there something these guys smoke or drink once they taste power? It’s better if you keep your mouth shut and people think you are stupid than opening it and removing all doubt.
[SIZE=7]Samia Suluhu mocks East African country ‘without forex reserve to last a week’[/SIZE]
Thursday, March 09, 2023
By Mercy Simiyu
Tanzania President Samia Suluhu has said her country has the best-performing economy in East Africa.
Speaking on International Women’s Day, Ms Suluhu told Tanzanians to appreciate the state of their economy which was better compared to her neighboring countries.
[ATTACH=full]499550[/ATTACH]
She cited an example of an unnamed country that she said does not have forex reserves to last a week.
[SIZE=6]RELATED[/SIZE]
[ul]
[li][URL=‘https://nation.africa/kenya/business/hard-times-beckon-as-economy-is-battered-from-several-fronts-4148614’][SIZE=5]Hard times beckon as economy is battered from several fronts[/SIZE][/li]Business Mar 07
https://nation.africa/resource/image/4148628/portrait_ratio1x1/70/70/b93998a4d1a71479f6e6da83b1699015/sI/jua-kali.jpg[/URL]
[li][URL=‘https://nation.africa/kenya/business/how-kenyan-banks-made-sh52-billion-from-dollar-shortage-4037380’][SIZE=5]How Kenyan banks made Sh52 billion from dollar shortage[/SIZE][/li]Business Nov 29
https://nation.africa/resource/image/3990152/portrait_ratio1x1/70/70/76ffc9d035b4b8862dfcef140d51821e/uQ/dollars.jpg[/URL]
[/ul]
The Nation could not verify her claims.
She said the unnamed country has been seeking the help of Tanzania with the dollar to import petroleum products.
[ATTACH=full]499563[/ATTACH]
“Let no one lie to you (Tanzanians),” she said.
“We are at a better place compared to our neighbours.
Their dollar reserves cannot last a week, our reserves can push us for four months.
They are here begging us for guarantees so that they can buy fuel.”
The head of state said she, however, did not help the needy country because she feigned a dollar problem in Tanzania.
Ms Suluhu’s comments come weeks after Kenya’s Treasury Cabinet Secretary Prof. Njuguna Ndun’gu urged Kenyans to brace themselves for tougher times in 2023.
Her comments come days after The Citizenreported that commercial banks in Kenya had run out of dollars and had resorted to borrowing from Tanzania.
The report added that the Central Bank of Kenya (CBK) has directed commercial banks to ration dollars following a shortage of the currency and the race to protect reserves.
[SIZE=6]Scavenging for dollars[/SIZE]
“We are now scavenging for dollars. Only half of every six banks we call daily for dollars will have something for us. Three of the banks will ask us to check later,” a top executive of a manufacturing firm who sought anonymity for fear of reprisals from the Central Bank of Kenya (CBK), was quoted by the paper saying.
“What is available at banks is between $5,000 and $10,000. One will be fortunate to get $20,000 and extremely lucky to get $50,000 from a single bank. This is crazy for a business that requires $1 million monthly for supplies and we are getting each dollar at Sh137,” the executive added.
Meanwhile, the Kenyan shilling has considerably depreciated in recent times.
Although it remains among the strongest currencies in the region, the shilling has depreciated by almost 10 percent to the dollar in the past month and is currently trading at Sh130.
The Kenyan shilling has also depreciated compared to the Uganda and Tanzania shillings, which have traditionally been weaker currencies.
This comes as President Ruto struggles to tame the surging cost of living with prices of maize flour and fuel at an all-time high amid pressure from the opposition. President Ruto has blamed the opposition for the poor economy.
You can read this I posted above… :D:D:D
Kenya turns to Tanzania for dollars as the country experiences a dollar shortage
CHINEDU OKAFOR
March 3, 2023, 4:45 PM
US dollars
[ul]
[li]Several Kenyan firms are turning to Tanzania for their dollar supply.[/li][li]This is because Kenya’s commercial banks are running low on US dollars.[/li][li]The shortfall results from increased exports of raw materials and equipment following the economy’s recovery.[/li][/ul]
Due to the fact that Kenya’s commercial banks are running low on US dollars, some Kenyan businesses have begun obtaining dollars from Tanzania and other nearby nations.
[ul]
[li]Markets Kenyan businesses struggle as banks run out of US dollars[/li][/ul]
Owing to the lack of US dollars, it has been challenging for manufacturers and importers of general items to fulfill their responsibilities. Following the eventual shortage of dollars and a rush to protect reserves, the Central Bank of Kenya (CBK) ordered commercial banks to restrict the number of dollars they give out.
Many currency merchants and importers claim that banks have placed a daily limit on dollar purchases of as little as $5,000 because businesses are finding it difficult to get enough foreign currency to meet their supply needs. Due to the shortage, industrialists are now compelled to look for dollars daily and from many lenders to meet their monthly hard currency demands. This makes it more difficult for them to maintain good supplier relationships and bargain for favorable rates in spot markets.
Banks, especially the largest institutions, running out of dollars shows that the currency problems that began in the middle of last year with lenders rationing limited dollars have gotten worse.
“We are now scavenging for dollars. Only half of every six banks we call daily for dollars will have something for us. Three of the banks will ask us to check later,” said a top executive of a manufacturing firm who sought anonymity for fear of reprisals from the Central Bank of Kenya (CBK).
“What is available at banks is between $5,000 and $10,000. One will be fortunate to get $20,000 and extremely lucky to get $50,000 from a single bank. This is crazy for a business that requires $1 million monthly for supplies and we are getting each dollar at Sh137,” he added.
Importers claim they are compelled to purchase dollars at a rate of Sh137 or more since they are unable to access them at the official buy rate of Sh127.39.
Leading companies have begun trading dollars among themselves, and those in need of hard money are showing an interest in hotels and aviation companies. This is breaking the law and fostering a parallel dark market that could lead to several economic issues, such as deterring foreign direct investment (FDI), promoting rent-seeking, and shrinking the interbank FX market.
Some lenders acknowledged the dollar purchase caps but chose not to publicly declare it for fear of reprisals from the CBK. Industry leaders claim that their limited access to sufficient hard currency significantly impacted their capacity to make timely payments to foreign suppliers.
The industrialists’ organization claimed that the dollar crisis has harmed relationships with suppliers at a time when global competition for raw materials has increased as a result of rising demand and persistent supply chain restrictions.
The shortfall results from increased exports of raw materials and equipment following the economy’s recovery, which is driving up dollar demand.
https://africa.businessinsider.com/…kN7K_Md267IfJRzLWgOg-Eg3Y-4jzyDHiADWxgibg6Qo0
This was predicted here:
Tenants occupying various commercial spaces in Westlands, Kilimani, and Karen would be forced to pay more due to landlords’ demand for rent in US dollars.
According to Cytonn 2023 Market Outlook, Nairobi business people and companies occupying retail office spaces would be subjected to a 1.5 per cent rent increase.
Explaining the increase, Cytonn, a real estate company, attributed the sharp rise to the weakening effect of the Kenyan shilling against US dollar.
https://www.kenyatalk.com/index.php…l-landlords-now-demand-payments-in-us.250359/
:D:D:D:D:D
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![https://nation.africa/resource/image/4148628/portrait_ratio1x1/70/70/b93998a4d1a71479f6e6da83b1699015/sI/jua-kali.jpg[/URL]](https://nation.africa/resource/image/4148628/portrait_ratio1x1/70/70/b93998a4d1a71479f6e6da83b1699015/sI/jua-kali.jpg%5B/URL%5D){kind=link}
![https://nation.africa/resource/image/3990152/portrait_ratio1x1/70/70/76ffc9d035b4b8862dfcef140d51821e/uQ/dollars.jpg[/URL]](https://nation.africa/resource/image/3990152/portrait_ratio1x1/70/70/76ffc9d035b4b8862dfcef140d51821e/uQ/dollars.jpg%5B/URL%5D){kind=link}