Afternoon business highlights – October 17 2017

Afternoon business highlights – October 17 2017

Kenya’s debt to rise to 60% of GDP in 2018

Kenya’s rising debt is set to hit 60% of Gross Domestic Product by June 2018 according to Global rating agency Moody’s Investors Service. In their latest report, the agency says Kenya’s debt to GDP has gone up to 56.4% from 40.5% in 2012. Moody’s attributes the projected rise to high primary deficits and borrowing costs. Kenya’s debt is currently at Ksh4 trillion, 13 percentage points above IMF’s recommended benchmark for emerging countries.

Kenya Red Cross set to benefit from Ksh100 billion Microsoft cloud service donation

Microsoft Philanthropies, the social development arm of tech company Microsoft, has fulfilled a three-year commitment to donate Ksh100 billion in cloud computing resources to help non-profit organizations digitally scale their impact and better serve public good. The Kenya Red Cross Society and I Choose Life, Africa (ICL) are benefiting from the commitment to digitally transform their operations tapping from Microsoft’s cloud resources that have helped 90,000 non-profits and researchers at 700 universities around the world, advance social initiatives. Microsoft Country Manager for East Africa Sebuh Haileleul says too many non-profits have been left behind in the digital revolution that’s reshaping business and society, but many have a desire to adopt the latest technology.

KWS buckles under weight of Ksh4 billion loss

The Kenya Wildlife Service (KWS) has suffered Ksh4.4 billion in losses that have left it technically insolvent. Auditor- General Edward Ouko says the wildlife conservation body reported a deficit of Ksh680.5 million in the financial year ended June 2015, its latest audited period. This came on the back of a Ksh3.7 billion deficit that the agency had accumulated in the year to June 2014, pushing the total to Ksh4.4 billion.

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Two children die in early morning fire in Umoja

Two children were this morning burnt to death in a fire in Umoja estate. The two, aged five and 18 months, were burnt beyond recognition at their Umoja Two estate

Newspaper summaries – April 10, 2018

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Evening news headlines

News highlights Tanzanian government dismisses Maasai evictions report The Tanzanian government has dismissed allegations that it is involved in human rights violations against the indigenous Maasai people in favour of

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