Kenya’s Domestic Debt Servicing Surges Past KSh. 1 Trillion

By Harry Njuguna

Kenya’s domestic debt burden has deepened sharply, with servicing costs crossing the KSh 1 trillion mark for the first time in FY 2024/25. Data from the Controller of Budget shows that the government spent KSh 1.05 trillionon domestic debt repayments, up 25.9% from KSh 830.2 billion in FY 2023/24.

• The domestic debt servicing bill was split into KSh 678.3 billion in interest and KSh 366.8 billion in principal repayments, compared to KSh 534.2 billion and KSh 296.0 billion respectively in the prior year.

• Interest now makes up about 65% of the domestic servicing burden, reflecting the cost of heavy reliance on short-term debt instruments in a high interest rate environment.

• Over the last six years, domestic debt servicing has nearly doubled.

Read More here >>>>>

Truecaller Intergrates AI So You Know Why, Not Just Who Is Calling

By TKWS Staff Reporter

 Truecaller has integrated artificial intelligence (AI) into its service to provide users with ‘deeper contextual insights’ on incoming calls, the global caller ID service said on Thursday. “People hesitate to answer unknown calls because they lack context and in today’s world, context is everything,” said Rishit Jhunjhunwala, Global CEO of Truecaller. “Truecaller was built to solve this: not just to identify who’s calling, but to help you understand why. Knowing ‘who’ is calling is only part of the story.”

In addition to the summaries, the AI feature will alert users of suspicious behaviour, classify businesses, and identify numbers as “likely a business” or “likely important”, even if there is not enough community feedback. Read More here >>>>>

Kenya Re Suspends Managing Director Dr. Hillary Wachinga for 21 Days

By Brian Nzomo and Harry Njuguna 

Listed reinsurance company Kenya Reinsurance Corporation Ltd (Kenya Re) has suspended its managing director, Dr. Hillary Maina Wachinga, for 21 days as the board reviews what it called “internal matters.”

“The Board believes that this action is in the best interests of the Company and its stakeholders to allow for a thorough and impartial assessment,” Kenya Re stated in a public announcement on Friday.

The board appointed Nicodemus Gekone, the firm’s general manager for property and investments, as acting Managing Director during the period. Read More here >>>>>

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OPINION: How to Navigate Africa’s Energy Transition

By Anibor Kragha, Executive Secretary at the African Refiners & Distributors Association (ARDA).

External expectations have framed Africa’s role in the energy transition for years. Despite facing different realities, such as limited infrastructure, restricted access to capital, and less influence in global energy policy, it has been assumed that Africa will follow the same decarbonisation path as developed economies.

The countries that will lead the continent’s energy shift are those that provide a stable and transparent environment, allowing both public and private players to collaborate with confidence. Most importantly, this energy transition must create local value. It should focus on building skills, transferring technology, and sparking new industries, from battery production to green hydrogen here »»»»»

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♦️Energy. Kenya’s wind farms delivered a 46% jump in output that helped steady the country’s power grid in June.

♦️ Real Estate. Home Afrika Limited has posted a profit of KSh 192.4 million for the half year, a 14.6% increase from last year.

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