Business highlights – January 31, 2018

Business highlights – January 31, 2018

Kenya lags behind 11 African countries in terms of macroeconomic stability – KPMG report

Kenya has been ranked 112 globally on macroeconomic stability, institutional strength, openness and human capital and remains behind 11 other African countries.Mauritius, Botswana and Rwanda are the top-most in Africa in terms of future growth promise on account of the measured indicators, according to a newly released report by audit and financial advisory firm KPMG titled Growth Promise 2018.By macroeconomic issues the report refers to government deficit and public debt while openness refers to the stock of foreign direct investment and total trade.

Nairobi water bills to be paid online

Nairobi City Water and Sewerage Company (NCSWC) is moving to replace its traditional banking halls across the city with its agency platforms. The utility firm announced the closure of all its cash offices and directed Nairobi residents to pay water bills electronically through the company website, mobile banking platforms or commercial banks.

High cost of labour, cartels cause coffee production to fall by 70%

Kenya’s coffee production has dropped by 69.23% from 130 million tonnes annually to 40 million with projections that the output could drop lower. High cost of production and labour coupled with cartels that have played a major role in the decline. The Council of Governors (CoG) has blamed a weak regulatory framework for the crisis in the sector, whose potential is 300 million tonnes annually.

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