Morning business highlights

Nairobi to host digital currency seminar
Nairobi will play host to a three day seminar on cryptocurrencies, blockchain and forex online trading as the debate into the legitimacy of these currencies continue.
The workshop will be held on May 22-24 and will target investment officers, forex online traders, investment bankers and stockbrokers, fund managers, transaction advisers, real estate practitioners and policy makers.
“It is important that we have a clear industry guideline on these issues so that our members can be able to advise investors and also offer a lead in legislation and policy formulation in these subjects,” said Job Kihumba, chairman Institute of Investment and Financial Analysts (Icifa).
Diaspora remittances hit high in March
Sh64.3 billion was sent home by Kenyans living abroad from January to March.
This is a 48.29 per cent increase over the Sh43.4 billion remmited in the same period last year.
“The improved performance reflects increased uptake of financial products by the diaspora and new partnerships between commercial banks and international money remittance providers,” CBK says in weekly market note.
Bid for ban on tea plucking machines
The Kenya Plantations and Agriculture Workers Union (KPAWU) has called upon counties to ban tea plucking machines, terming them as a risk to families and the economy.
“They should be banned until when living standards in Kenya have improved. Kericho and other towns whose economies rely on tea farming will become ghost towns since circulation of money will reduce,” KPAWU Deputy Secretary General Thomas Kipkemboi said.

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