Afternoon business highlights – October 19 2017

Afternoon business highlights – October 19 2017

AfDB joins Kenya in helping Sudan build resilience and tackle fragility

The Board of Directors of the African Development Bank Group (AfDB) have  approved Sudan’s Country Brief 2017-2019, designed to help the country build resilience and address core issues of fragility. The move comes just days after Kenya’s government affirmed its commitment to support the South Sudan. Board members commended the recent lifting of US sanction on the country and emphasized the need to help tackle the political, economic, social, and environmental challenges that Sudan is currently facing.  Interventions provided in the Country Brief would enable Sudan improve social service delivery, create jobs and livelihood opportunities in agriculture and agro-industry with emphasis on youth and women.

KBA condemns government for implementing 2016 Banking Act

The Kenya Bankers Association (KBA) has criticized the government for implementing policies that have been detrimental to private sector lending. The KBA today shared a review of the effects of a recent law dubbed the Banking (Amendment) Act 2016 this morning. This review is based on evidence of market outcomes and bank level data.  It confirms the adverse consequences of the law one year into its implementation. The Association claims that credit to the private sector is “nearly grinding to a halt”, with the most affected being unsecured personal loans.

Treasury CS Henry Rotich slams Education Ministry officials for HELB loan crisis

Thousands of students have yet again missed out on the critical funding from the Higher Education Loans Board this year. Treasury Cabinet Secretary Henry Rotich has accused Higher Education Ministry officials of failing to develop long-term plans for disbursement of student loans. He says this has caused funding shortfalls that are hurting learners from poor backgrounds.

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