Didn’t have time to catch up with all of the week’s stories? Relax, follow HerBusiness commentary of the most interesting items that made the news headlines, every week.
Best paying sectors
The Economic Survey 2018 revealed info on how much people make in the private sector. We were disappointed. The stats we got were based on average pay instead of median pay. This means the higher-ups earning far more skewed reality. Even so, the average salary in the private sector is sh.56,000 with those in civil service making about 1k more in salary. The financial and insurance sector had an average salary of sh.146,000 (the highest) but we’re not reading too much into it.
Chase bank in the news again
So, large depositors with Chase bank are set to get access to their money in “a minimum of four to six months.” This is according to SBM Holding Chairman Keep Chong Li. SBM acquired Chase bank. In the schedule approved by the Central Bank, 25% will immediately be available but without interest. Another 25% will be in savings account earning 6.65% interest annually in the next phase of access to the money. The other rest (50%) will be paid over a 3-year period.
Devolution Conference 2018
Devolution works and will work, don’t fight it. For the fifth time, Governors gathered to discuss issues County Government with the National Government also using the platform to sell it’s big 4 plan. Raila went full conceptual talking about even more decentralization of power by introducing regional governments. MPs, on their part, wrote off the meeting. Instead, they wished the Governors focused on pressing issues at hand like “humanitarian crises” faced in 15 counties, says Duale, instead of the get-together in Kakamega.
The Devolution Conference was sidetracked a-bit when a deputy governor was caught with his pants down:
A survey by PotPoll Rates revealed that Nairobi County (Mike Sonko) as being among the worst in County Government performance. In response, two representative organizations earned much relevance by castigating Nairobi leadership. These were the Consumer Federation of Kenya (cofek) and the Kenya Alliance of Residence Association. Cofek Secretary general, Mutoro said “you do not get such things even in the streets of Mogadishu” (ouch!) on problems like waste management. Yeah, we won’t go as far as insult other cities but it’s embarrassing. This week we literally interviewed a brilliant woman doing so much for waste management all by herself.
Donor cuts money for health care
It was revealed before Parliament that, donor, The Global Fund will be slashing sh.4.9 billion that goes towards action against major killing diseases in Kenya. Sh.3.1 billion towards HIV/Aids cut, Sh.1.4 billion towards Tuberculosis cut and Sh.400 million towards Malaria cut. The probable reason for this is the financial mismanagement that has been happening in the health sector – like Sh.5 billion being unaccounted for. This is is a big deal because 35% of healthcare funding in Kenya comes from the Goodwill of donors.
Matatu dude returns lost 30k
Yes. A passenger lost Sh.30,000. The matatu tout handed over the wallet with only part sum of the money to the head office. When the passenger went to check for his wallet (he actually did) the tout showed up and gave him his money. His name is Daniel Mwaura and says he lives by the golden rule: “I believe that one should do to others what they expect them to do to him.” The grateful passenger promised to reward him in due course. Is your faith in humanity restored again?
Google Play Awards 2018
45 Android apps and games have been nominated for the Google Play Awards in 9 categories. They are being recognized for attributes like quality, design and innovation. An unsecured loans app in Kenya, Tala made the “Best Social Impact” category against 4 other nominees. The awarding will be on 7th May.
Ourselves, we were nominated in the “Best Business Blog” category of the 2018 BAKE Awards. Be kind, take a few seconds and Vote For Us. Thanks!