Summary Of The Business Daily Newspaper -July 30,2025
Page 1: Reports that the Central Bank of Kenya reversed its loan pricing plan, permitting commercial banks to use the interbank rate instead. Meanwhile, the Kenya Revenue Authority recovered Sh86 billion from disputes, and a survey revealed Kenyans’ strong preference for investing in saccos and banks.
Page 4: Reports that a lawsuit against Taifa Gas’ Mombasa LPG plant was withdrawn after petitioners dropped environmental concerns. Separately, Kajjado residents criticized carbon credit deals as exploitative, citing unfair practices in the market.
Page 5: Reports that public schools closed early due to delayed government funding, disrupting the academic calendar and hindering KCSE exam preparations. School heads warned of operational challenges, forcing students home despite syllabus completion needs, raising concerns about education quality.
Page 6: Reports that former CBK chairman Mohammed Nyaoga was appointed to Absa Bank Kenya’s board, bringing expertise in governance and finance. His experience at Ecobank, IMF, and AFDB is expected to strengthen leadership amid financial challenges.
Page 7: Reports a surge in phishing attacks targeting Kenyan employees with fake HR emails and QR codes, stealing sensitive data. Cyber threats rose 146%, with 8.6 billion attacks detected, underscoring growing digital security risks.
Page 10: Reports Google’s $37 million investment to boost Africa’s AI ecosystem, focusing on language inclusion and startups. A $3 million grant to Masakhane will develop NLP tools for 40+ African languages, bridging the digital divide.
Page 12: Reports Kenya’s real estate market remains popular but complex, with Central Bank Rate fluctuations impacting mortgages. Success now hinges on understanding market dynamics, as rising rates deter buyers and stall projects.
Page 13: Reports Moody’s warning that Kenya’s high external debt repayments (3% of GDP) could strain forex reserves without new funding. Despite stable reserves ($11.185 billion), a $1 billion eurobond maturity looms, highlighting fiscal vulnerabilities.
Page 14: Reports the French Development Agency (AFD) increased Kenya’s private sector funding sixfold to 145.73 million, aiding SMEs. However, approved deals dropped 84.1%, reflecting regional challenges, with AFD prioritizing non-sovereign support.
Page 19: Reports job seekers using LinkedIn’s #OpenToWork feature, but recruiters stress profile optimization for effectiveness. Experts caution against perceived desperation, advising focus on achievements and confident networking.
Page 24: Reports African boards must prioritize tech expertise to address cybersecurity, data, and innovation gaps. Examples like M-Pesa and GTB show the need for tech-savvy oversight in digital transformation.