The Costly Train

Your daily dose of financial news

November 20, 2024

Hello đź‘‹ 

It's Brian from The Kenyan Wall Street.

On our top stories today :

▶️ SGR passenger traffic dips by 9% as fares are hiked

▶️ Cabinet Secretaries tasked to perform better in the coming year.

▶️ Is your startups interested in garnering €100,000 in non-dilutive capital from a German-backed venture? Here's what you need to know

🚇 SGR Passenger Traffic Drops by 9% in 9 months

Between January and September this year, there was a shortage of 170,000 passengers who used the SGR compared to the same period last year. Apparently, this is due to the 50% fare hike on the Madaraka Express, forcing most of the travellers across various cities to opt for alternative means of transport. On the revenue side, SGR garnered KSh 2.91 billion from passengers, a 36.2% increase from KSh 2.14 billion recorded in the same period last year. Read this article to get more details

đź“ť Cabinet Secretaries Under Pressure to Meet Fresh Performance Targets

The president is not a very happy man following the barrage of criticism his regime has been heir to. He still believes he's got it! The drive to make this country better than it is. And yet, his government's implementation of the agenda they sold to Kenyans has been muddled by laxity and lack of focus. For this reason, President Ruto oversaw his cabinet Secretaries and other top state officials signing their new performance contracts. In those contracts, each official has a target for the next financial year. If he meets it, good for him. If not, well…sanction it is. But this is not the first time such a ceremony has been convened. What does government intend to do differently this time?

đź’µ Startups in Kenya set to receive €100,000 non-dilutive capital funding to upscale

develoPPP Ventures is innviting startups to apply for non-dilutive funding of up to EUR 100K along with tailored technical support. Funded by the German Federal Ministry for Economic Cooperation and Development (BMZ), the programme is launching its 8th cohort with implementation support from VC4A and ViKtoria Ventures. Read this article to get the application requirements and the sign up link…

Stories you missed 

Treasury CS Mbadi Moves to Contain Pension Crisis

The National Treasury is seeking to rescue pension funds choking from non-remittance of workers contributions.

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Top Real Estate Investment Locations in Kenya for 2025

Kenya’s real estate market has consistently demonstrated its potential, driven by rapid urbanization, infrastructural developments, and a steadily growing middle class. The potential in Kenya transforms property hotspots, with certain […]

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Angola Maintains 19.5% Interest Rate as Inflation Pressures Persist

Angola's central bank maintained its benchmark interest rate at 19.5% for a third time on Tuesday, citing a potential slowdown in inflation.

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Abdirahman Irro Wins Somaliland Elections, defeats incumbent president

Wadani Party Candidate, Abdirahman Irro, has defeated his opponent from the Kulmiye Party, Muse Bihi, in the just concluded Somaliland Elections. Somaliland has a population of about six million people. […]

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