Cunning Suppliers

Hi there 👋🏿

It's Brian from The Kenyan Wall Street.

In today's edition of ‘The Daily Brief’, the National Treasury is disowning some of the pending bills it has to settle – claiming that nearly half of them are not genuine. 

Moreover, COMESA Competition Commission wants to investigate claims of false misrepresentation by Airtel and MTN in the region.

This and more stories in this edition…

PUBLIC FINANCE  

CS Mbadi on Pending Bills

The most troublesome bug in the current regime's fiscal list is ‘pending bills’ – money owed to project contractors and suppliers, as well as unremitted statutory and other deductions, and pension arrears. But CS Treasury, John Mbadi, now says the legitimate claims are significantly less than the total bulk.

As of June 2022, National Treasury says pending bills claim totalled Ksh663 billion, a crisis which saw the Cabinet approve the establishment of a special committee to review the claims. CS Mbadi says that the Edward Ouko led Pending Bills Committee has so far verified Ksh475 billion bills out of which only claims worth Ksh206 billion are authentic.

Here is what CS Mbadi said about pending bills >>>>>

Today's Poll 

Last Friday’s Poll

Going by the financial performance of both Kenya Power and EABL, would you buy their stocks?

🟩🟩🟩🟩🟩🟩 Yes (65.71%)

🟨🟨🟨⬜️⬜️⬜️ No (34.29%)

COMPANIES

COMESA Watchdog hounds Airtel and MTN

Airtel and MTN are on the radar after it is alleged that their mobile money services withheld crucial transactional information from customers sending money in Kenya, Malawi, and Uganda.

The COMESA Competition Commission will probe the telcos later this month to ascertain whether they violated the region’s regulations prohibiting companies from misleading a customer using false representations.

This article explains in detail what both companies are being accused of >>>>>

🧐 Also on companies…

ANALYSIS  

Kenya’s Internet Advertising Market Projected to Be the Fastest Growing in the World

Kenya’s entertainment and media (E&M) sector is poised for remarkable growth over the next five years, with its internet advertising market leading the charge as the fastest-growing globally.

According to PwC’s Africa Entertainment and Media Outlook 2024–2028, Kenya’s internet advertising revenue is expected to grow at a compound annual growth rate (CAGR) of 17.4% between 2023 and 2028, surging from $163 million to $365 million.

In this article, we explain what is likely to drive this growth »»»»»

ACROSS THE BORDERS  

⏱️ Also Watch 

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Have a lovely week!