Business highlights – September 12 2017 – Tourism CS Balala elected chair of WTO Commission for Africa

Business highlights – September 12 2017 – Tourism CS Balala elected chair of WTO Commission for Africa

Tourism CS Balala elected chair of WTO Commission for Africa

Tourism Cabinet Secretary Najib Balala has been elected Chairman of the United Nations World Tourism Organisation Commission for Africa for the 2017-2019 term. He was unveiled at the ongoing 22nd General Assembly of the UNWTO conference in the city of Chengdu, China. Balala takes over from Zimbabwe’s Tourism Minister Walter Mzembi who was re-elected to the position two years ago for the 2015-2017 term. UNWTO is the world’s most powerful tourism organisation with equivalent status as the World Trade Organization. Regional commissions, such the one Balala will be heading, were established in 1975 as subsidiary organs of the General Assembly. The six normally meet once a year.

China donates state of the art weather equipment to Kenya as country moves to grapple with climate change

The Kenya Meteorological Department has received a major boost from the Chinese Government with a donation of state-of-the-art weather equipment worth million of shillings. Speaking during the handing over ceremony of the equipment on Monday, Ambassador of the People’s Republic of China in Kenya Liu Xianfa said the donation is part of a larger plan that will see Kenya attain its Vision 2030 in matters climate. Liu stated that the modern system will help improve Kenya’s ability to implement the global framework of climate services in the country. Liu was speaking during a ceremony at the University of Nairobi, Kabete Campus.

Political jitters to blame for poor uptake of government’s M-Akiba bond

Market analysts are blaming political uncertainty in the country for the failure of the M-Akiba interest bond that missed its target by 75%. The bond that closed on Monday netted a total of Ksh247 million below the Ksh1 billion target. Genghis Capital Research Analyst Gerald Muriuki says the low uptake is also attributable to inadequate awareness among Kenyans on the offer. The Treasury extended the second phase of the M-Akiba bond sale to September 11 as the sale failed to take off.

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