Summary Of The Business Daily Newspaper
Page 1: Reports that Kenyans are increasingly insuring livestock and crops due to climate change shocks and bank lending requirements, with premiums totaling Sh1.2 billion. This growing market qualifies policyholders for potential payouts of Sh36.73 billion against covered losses. The data includes a breakdown of sums insured for various livestock, with dairy cattle having the highest coverage at Sh6.69 billion.
Page 2: Reports that State House withdrew Sh3.6 billion for local travel and meetings under emergency funding over a 42-day period. The Controller of Budget revealed the Treasury released these funds just days before the end of the 2024/25 financial year. This expenditure highlights the challenges in enforcing austerity measures to address budget deficits.
Page 4: Reports that public service employees received an additional Sh43.19 billion in pay during the last financial year, primarily due to agreements approved by the Salaries and Remuneration Commission (SRC). The vast majority of this increase (Sh36.45 billion) was disbursed in the final quarter, providing a significant boost amid rising inflation. This pay rise, largely driven by Collective Bargaining Agreements, accounted for 60.9 percent of the total amount initially requested by institutions.
Page 5: Reports that Kenya Revenue Authority’s Commissioner for Large and Medium Taxpayers, Rispah Simiyu, is leaving her post next month after a five-year tenure. Her departure is part of a broader leadership transition, and the KRA board has hired a firm to recruit her successor, indicating her contract will not be renewed. Ms. Simiyu previously served as the acting Commissioner General for six months in 2023.
Page 6: Reports that Butali Sugar Mills plans to double its crushing capacity to 5,000 tonnes per day with a Sh1.3 billion investment, matching the capacity of its rival West Kenya Sugar. This expansion intensifies a long-standing rivalry, as West Kenya is also diversifying with a planned Sh3.86 billion distillery and has taken over the management of state-owned Nzoia Sugar. The moves reflect a broader trend of surging investor appetite in Kenya’s sugar sector, driven by increased demand and government efforts to privatize struggling mills.
Page 8: Reports that a massive landslide, triggered by heavy rainfall, has killed at least 1,000 people in the village of Tarseen in Sudan’s Darfur region. The area, controlled by the Sudan Liberation Movement/Army, has been completely destroyed, leaving only one survivor. The group has appealed to the UN and international aid agencies for assistance in recovering the victims’ bodies.
Page 10: Reports on the potential of nanotechnology, which operates on a microscopic scale, to revolutionize fields like medicine, water purification, and construction. It highlights how this technology is already being used globally for early disease detection and targeted drug delivery, particularly for conditions like cancer and diabetes. The article argues that Kenya has yet to fully embrace the enormous potential of nanotech for health interventions and other critical applications.
Page 24: Reports a landmark overhaul in Kenya’s banking sector where the Central Bank has replaced the Central Bank Rate (CBR) with a new market-based benchmark, the Kenya Shilling Overnight Interbank Average Rate (KESONIA), effective September 1, 2025. This fundamental change introduces a new lending formula of KESONIA + a premium, which includes bank costs and borrower risk, creating a more dynamic but potentially volatile interest rate environment. The shift aligns Kenya with international standards, moving to a benchmark derived from real-time interbank market transactions.