Kenyans in Lebanon shouldn't be collateral damage.

💣Panic hits Kenyans in Lebanon amid escalating tensions

26,000+. That’s how many Kenyans are in Lebanon and may become stranded if bombings by Israelis continue to pummel the country. Israel has recently been targeting Hezbollah fighters in Lebanon with exploding pagers and targeted missile strikes having killed over 500 in recent weeks. Why can’t they just come home? Well, Lebanon practices the antiquated system of ‘Kafala’ which sees many domestic workers (of which most Kenyans in the country are) have their passports and documentation confiscated. Despite the State Department of Diaspora Affairs confirming that they will provide emergency assistance to Kenyans wishing to leave the country, some worry that it is not enough and that Kenyans will become collateral damage of Israel’s unending war. Dive deeper. 

🤯Bamburi Cement stock price tanks 28.6% in just two days

KShs22.3 per share. That’s how much money each share of BAMB (listed on the NSE) has shed in just two days with the shares closing today at KShs57.5. Despite having two acquisition offers on the board room table for KShs65 and KShs70 per share, why is the stock falling? The share decline is believed to be because investors piled into the stock awaiting an KShs18.35 special dividend. Since the book closing date for this dividend was last Friday, it makes sense as to why BAMB is falling as short-term traders leave the equity behind. Now the stock is undervalued and it is up to the market to find an equilibrium share price that works for them. Get the inside scoop. 

🚌Only South Koreans can bid on the new Outering BRT Project

$59 million USD. That’s how much money the Kenya Urban Roads Authority (KURA) is sitting on from the Export-Import Bank of Korea for the development of Nairobi’s Outering Bus Rapid Transit Line (BRT). However, the fine print requires that only Korean firms (South of course) may bid on the project. This is another example of a foreign-financed infrastructure project that remains exclusive to contractors originating from the financing country. Why? Well, unfortunately, certain Kenyan firms in the past have “eaten” during projects with some finished to a sub-par standard and others even remaining incomplete. Beyond this, the exclusivity also ensures that the money spent never leaves the financing country’s economy which would ultimately be negative from a macroeconomic perspective. Learn more about the new BRT. 

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