Kenya: Inside the Criminal Underworld of Nakuru Gangs
Wed, Sep 1, 2021 | 6:39 am

Source They are young, aged between 13 and 26, and residents describe them as “young and dangerous”. They have no second thought about hacking or shooting a person they think stands in their way of getting what they want. They are vicious, sometimes acting under the influence of strong hallucinatory drugs. These are the “police-taunting […]

74 Pc Of Africa, Middle East SMEs Optimistic About Growth In A Year
Wed, Sep 1, 2021 | 6:16 am

Source NAIROBI, Kenya, Aug 30– More than 70 percent of Small and Medium Enterprises (SMEs) in the construction and manufacturing sector in the Middle East and Africa are optimistic about business improvement and performance in the next 12 months, a survey conducted by Mastercard Middle East and Africa (MEA) has revealed. The study conducted between […]

Kenya: Wambugu Ngunjiri Takes on Judiciary With Sweeping Changes to Law
Tue, Aug 31, 2021 | 11:38 am

Source A key ally of President Uhuru Kenyatta is drafting an amendment to the law to remove Chief Justice Martha Koome from the chairmanship of the Judicial Service Commission (JSC) and expand its composition in what will escalate the tensions between the Executive and Judiciary. In the sweeping legislative changes proposed by Nyeri Town MP […]

New risk assessment tool to boost value of hydropower projects
Tue, Aug 31, 2021 | 11:22 am

Source TMP Systems and International Rivers have collaborated to create a geospatial assessment tool for hydropower projects called Riverscope. It is a comprehensive tool to assess often-overlooked environmental and social risks and connect them on a quantitative level to the commercial performance of hydropower projects. Dams have a significant and irreversible impact on ecosystems and […]

Kenya: Publication Of Kenya’s Customs Recordation Regulations
Tue, Aug 31, 2021 | 7:03 am

Source At long last, Kenya’s Customs Recordation Regulations have been published. Over the last two years, the Anti-Counterfeiting Agency (the ‘ACA’), working with industry stakeholder representatives have developed the Anti-counterfeit (Recordation) Regulations to guide the implementation of a new customs recordal system in Kenya. These Regulations have now been published as “The Anti-Counterfeit (Recordation) Regulations, 2021” (see […]

Scammers fleece Access Bank of N871m in five years
Mon, Aug 30, 2021 | 8:48 am

Source Every year, thousands of Nigerians collectively lose millions of naira to online banking fraud. A suspected fraudster recently arrested by the Nigerian Police revealed that Access Bank and First Bank were the easiest banks to hack. The 46-year-old suspect Zakarriyah Yahaya, paraded by the Police, alongside thirty-eight other suspects, disclosed how his gang emptied the bank […]

Kenya: Inept or Corrupt? Kenya Falters on Fraud Cases
Mon, Aug 30, 2021 | 8:37 am

Source As Uganda prepared to send South Sudanese Lawrence Malong Yor Junior behind bars for defrauding a South African businessman Sh106 million in a gold scam, Kenyan Kevin Obia, who was a week earlier found guilty of the same crime, was criticising the Judiciary. After a lengthy six year trial that at some point seemed […]

Court sends First Community Bank and real estate developer to arbitration in Sh210m dispute
Mon, Aug 30, 2021 | 8:19 am

Source A court has barred a bank from disposing of a property in Riruta, Nairobi, in a Sh246 million loan dispute with a real estate developer and referred the matter for arbitration. Commercial court judge Grace Ngenye ordered First Community Bank and Isaac’s Investments Company Limited to look for arbitrator who understands Sharia law to settle the dispute. “The dispute herein between the plaintiff and the defendant is referred to arbitration. An order be and is hereby issued that the parties […]

Binance lawsuit: Claimants mount up in arbitration for decentralization
Mon, Aug 30, 2021 | 8:09 am

Source When does decentralization stop being an experiment in technological democracy and start being a way to avoid accountability? That’s the question at the heart of a potential $100 million arbitration lawsuit against cryptocurrency exchange Binance, where close to 1,000 traders seek damages for losses suffered during the site’s outage on May 19. Binance experienced technical issues […]