Mbadi's quest to reform pension

Hello 👋 

It's Brian from The Kenyan Wall Street.

On our top stories today :

▶️ The Treasury is not happy with how counties remit their workers’ pension funds.

▶️ Sudanese paramilitary forces urge mediation with the armed forces to end year-long war.

▶️ Concern over counterfeit electrical equipment in the continent.

🧓💵 Treasury CS Mbadi Moves to Contain Pension Crisis

There is a problem with the manner in which counties remit pension funds of their employees to the National Treasury. By March last year, there was a shortfall of more than KSh 36 billion counties were expected to remit. Despite employing various strategies like property swaps, sponsor engagement, and debt repayment plan negotiations, nothing seems to be working. Treasury CS John Mbadi thinks he can find a solution. A taskforce led by the Director General budget, fiscal and economic affairs at the National Treasury - Albert Mwenda. The committee will sit for two months, deliberating on ways to streamline the remittance of county pension deductions. The big question is : What will the taskforce aim to do?

⚔️ Blame Game as Sudan War Escalates into Global Proxy Conflict

In a press briefing in Nairobi yesterday, the Rapid Support Forces (RSF) blamed the Sudanese government forces for botching negotiations that could end the war that has killed over thousands of people since April last year. According to General Omer Hamdan, Head of RSF Delegation, the army does not have legitimacy to rule the country because many of its personnel hail from a specific region in the country. The end of the war could see the restoration of basic services for more than 30 million people affected by the war. But this is a proxy war with a dozen interests backing each party. Could this factor hinder the possibility of restoring peace in Sudan?

💡 Counterfeit Electrical Equipment Incur US$600bn Losses for African Manufacturers

When buying electrical equipment such as circuit breakers and switches, it rarely hits us that we could be using fake, substandard products. According to a report by CBi-electric, fake electric equipment continues to flow into African markets at a rapid pace. The US$250 billion industry, sustained by rejected and poor quality equipment from China, East Asia, the Middle East, and the EU, is bound to wreck local manufacturers. Not only are counterfeit electrical equipment harmful to the economy, they also pose additional risks. But there are solutions to ridding the market of these counterfeits. Read this article to know what industry players recommend…

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