Kenya Roundup: Festive shopping, external debt, Africa Prize for Engineering
Ugandans flock to Kenya for festive season
In a surprising turn of events, hundreds of Ugandans are crossing the Busia border into Kenya for their Christmas shopping, primarily drawn by the declining value of the Kenyan shilling. The depreciation of the Kenyan shilling against the Ugandan shilling, currently at Ksh24.5 ($0.16) compared to last year's Ksh35 ($0.22), has made goods more cost-effective in Kenya, attracting cross-border shoppers, The Nation reports. This shift marks a departure from the past when Kenyans were the ones heading to Uganda for similar purchases.
External debt surge
An analysis by the Controller of Budget (CoB) reveals a 17.6% increase in Kenya's dollar-denominated loans since 2013, attributed to the weakening of the Kenyan shilling against major world currencies. The exchange rate, which stood at Sh86.31 ($0.55) against the US dollar in December 2013, has now reached Sh148.10 ($0.95) in September 2023, The Nation reports. “The depreciation of the Kenya shilling against the major world currencies has increased the public external debt stock. For instance, dollar-denominated debt has grown by 17.6 per cent due to currency depreciation over the last 10 years,” the CoB stated. Over 60% of Kenya's external debt is denominated in US dollars, emphasizing the vulnerability of the country's total debt to foreign currency fluctuations. The National Treasury plans to diversify external debt into various currencies to manage forex volatility, the COB further indicated.
Campaign against alcohol and drug use
A recent raid by the National Authority for the Campaign Against Alcohol and Drug Abuse (NACADA) in Kilimani, Nairobi, resulted in the arrest of 25 individuals and the confiscation of 117 shisha bongs. Despite the ban on shisha since 2017, its use remains prevalent in the country, The Star reports. NACADA officials emphasized ongoing investigations to ascertain licensing compliance and public health standards. NACADA CEO Anthony Omerikwa said, “Shisha was declared illegal in 2017. The sale and use were banned. Our team and multi-agency will continue with the investigations to get to the bottom of it, we are trying to see if this place is licensed, whether they have a public license and also if public health come here to see if it is in the right shape,” he was quoted by The Star. The timing of the operation, linked to increased substance abuse during the Christmas season, underscores efforts to address the correlation between substance abuse and accidents, particularly drunk driving.
Solar-powered borehole benefits over 3,000
The First Lady has sponsored a solar-powered borehole benefiting over 3,000 residents, as a response to persistent drought challenges in Mukur Village, Tiaty. This initiative aims to address water scarcity, boost school attendance, and spur development, KBC reports. In addition to the borehole, the First Lady donated food to residents and outlined plans for long-term food production through kitchen gardens, beekeeping, small-scale irrigation, and the planting of fruit trees. The event emphasised the importance of collective support for vulnerable communities.
Africa Prize for Engineering Innovation
In a testament to Kenya's engineering prowess, six innovators from the country have been shortlisted for the 10th Africa Prize for Engineering Innovation. The recognition underscores Kenya's commitment to groundbreaking engineering solutions on a global scale. Among the shortlisted innovators are Purity Gakuo, Esther Kimani, Christopher Maara, Esther Mueni, Charles Oduk, and Kevin Maina, KBC reports. Their diverse innovations address critical challenges, ranging from affordable solar-powered fridges to early crop pest detection devices and environmentally friendly roofing materials.
