Ramah Nyang on Muck Rack

Ramah Nyang

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Nairobi
As seen in: Bloomberg News, CGTN Africa, LinkedIn, Yahoo News New Zealand, Foreign Policy Magazine, The Star (Malaysia), Yahoo, Independent Online, CGTN, BNN Bloomberg, Bloomberg Law, The Star (Kenya) and
Covers:  east african public finances, east african equity markets, african business news, east african bond markets, east african currencies, east african business news, african startups, corporate events
With bylines at @BloombergAfrica. | Business Journalist @cgtnafrica. | Moderator | Car Nut | Views here = mine.
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Articles by Ramah Nyang

World Bank Bars Three PwC Africa Units From Deals for Graft (1)

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By Ramah Nyang 
| Bloomberg Law
The World Bank has barred network affiliates in Mauritius, Kenya and Rwanda from providing professional services for projects it finances for 21 months. The units engaged in “collusive and fraudulent practices” as part of their work on the construction of a high-voltage electricity transmission line linking Kenya and Ethiopia, the Washington-based lender said in a statement on Wednesday. The three units — including Mauritius-based PwC Africa Associates Ltd.
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World Bank Bars Three PwC Africa Units From Pitching for Deals Original

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By Ramah Nyang 
| Bloomberg Tax
The World Bank has barred subsidiaries in Mauritius, Kenya and Rwanda from providing professional services for projects it finances for 21 months. The units engaged in “collusive and fraudulent practices” as part of their work on the construction of a high-voltage electricity transmission line linking Kenya and Ethiopia, the Washington-based lender said in a statement on Wednesday.
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U.S. Tariff Risk Spurs African Shift away from the Dollar

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By Ramah Nyang 
| Treasury and Risk
For questions about Treasury & Risk, please call 800-458-1734 (9:00am-5:30pm ET, Monday through Friday, except holidays), or send an email to .
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US Tariff Risks Spur African Shift From Dollar, Ecobank Says

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By Ramah Nyang 
| Bloomberg Law
Volatile US tariff policy is accelerating efforts in Africa to reduce reliance on the dollar in trade settlements, with companies exploring greater use of China’s renminbi and local currencies, the head of pan-African lender Ecobank Transnational Inc. said. Despite comparatively low levels of trade with the US, Africa hasn’t been shielded from the fallout of White House tariff decisions, Chief Executive Officer said in an interview last week.
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Kenya’s Supreme Court Gives Ruto Some Respite in Tax-Law Ruling

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By Ramah Nyang 
| Bloomberg Law
Kenya’s Supreme Court ruled that a set of tax measures introduced in the 2023 budget wasn’t entirely unlawful, throwing a lifeline to President William Ruto’s government that’s struggling to make ends meet. The actions contained in the Finance Act 2023 included doubling value-added tax on fuel to 16% and a hike in the rate for the top salary-tax band to 35% from 30%. With them, the government sought to raise as much as 214 billion shillings ($1.66 billion) in the fiscal year that ended in June.
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Kenya’s Supreme Court Gives Ruto Some Respite in Tax-Law Ruling

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By Ramah Nyang 
| Bloomberg Tax
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Kenya’s Supreme Court Gives Ruto Some Respite in Tax-Law Ruling

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By Ramah Nyang 
| BNN Bloomberg
(Bloomberg) -- Kenya’s Supreme Court ruled that a set of tax measures introduced in the 2023 budget wasn’t entirely unlawful, throwing a lifeline to President William Ruto’s government that’s struggling to make ends meet. The actions contained in the Finance Act 2023 included doubling value-added tax on fuel to 16% and a hike in the rate for the top salary-tax band to 35% from 30%.
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Kenya to Revive Some Tax Measures From Axed Finance Bill

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By Ramah Nyang 
| BNN Bloomberg
(Bloomberg) -- Kenya’s finance ministry is working to bring back some of the tax measures that the nation’s lawmakers were forced to abandon after weeks of deadly protests.
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Kenya Sends First Group of Police to Fight Crime in Haiti

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By Ramah Nyang , David Herbling 
| BNN Bloomberg
(Bloomberg) -- Kenyan President William Ruto sent-off the first 400 police officers to Haiti to help tackle gang violence in the country. Speaking at the National Police College in the capital, Nairobi, Ruto expressed his confidence that the Kenyan contingent, together with others from contributing countries, will help in returning lasting peace in the conflict-ravaged Haiti, the presidency said in a statement on Monday.
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Kenya Protesters Push Ruto to Take Extra $1.6 Billion Budget Hit

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By Ramah Nyang , David Herbling 
| Yahoo
Ramah Nyang and David Herbling June 20, 2024 at 2:42 AM·2 min read (Bloomberg) -- Kenya’s National Treasury warned that withdrawing controversial tax measures risks creating a 200 billion shilling ($1.6 billion) financing hole for a nation that’s had to seek a bailout from the International Monetary Fund.
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Kenya Protesters Push Ruto to Take Extra $1.6 Billion Budget Hit

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By Ramah Nyang , David Herbling 
| Bloomberg Tax
Kenya’s National Treasury warned that withdrawing controversial tax measures risks creating a 200 billion shilling ($1.6 billion) financing hole for a nation that’s had to seek a bailout from the International Monetary Fund. Authorities in the East African nation have committed to dropping a raft of levies — including value added tax on bread and wealth levy on motor vehicles — after violent street protests this week in its two biggest cities.
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East African Internet Connectivity Impacted by Sub-Sea Cable Cut - BNN Bloomberg

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By Ramah Nyang 
| BNN Bloomberg
(Bloomberg) -- Several nations in East Africa including Kenya are experiencing slow internet connections after at least one sub-sea cable serving the region was cut. “The information we do have has confirmed that one of the sub sea cables seems cut 45 kilometers north of Durban,” Ben Roberts, group chief technology and and innovation officer at Liquid Intelligent Technologies said.
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Kenya Airways Seeks to Raise as Much as $1.5 Billion Capital

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By Ramah Nyang 
| BNN Bloomberg
(Bloomberg) -- Kenya Airways Plc now seeks to raise as much as $1.5 billion in fresh capital in a restructuring process authorities say will revive the carrier and plug a drain on state resources. KQ — as the airline is also known — has in the past relied on the National Treasury to repay loans and for operational costs. It didn’t receive direct government support in the past year, according to Chief Executive Officer Allan Kilavuka.
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#default #ethiopia #eurobond #fx #africa #debtcrisis #debtdistress…

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By Ramah Nyang 
| LinkedIn
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Kenya’s Biggest Bank Says Economic Woes Hurting Customers  - BNN Bloomberg

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By Ramah Nyang , Bella Genga 
| BNN Bloomberg
(Bloomberg) -- Kenyan borrowers are being held back by economic headwinds including higher interest rates and increased taxes, according to the East African nation’s largest bank. James Mwangi, Equity Group Holdings Plc’s chief executive officer, said consumers were being pinched from numerous angles and “you see disposable income for most of the households shrinking by up to 30%.” “That means reduced economic activities and that is reflected in the transaction volumes,” he said in an Oct.
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Kenya’s Biggest Bank Says Customers Taking Strain From Economy

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By Ramah Nyang , Bella Genga 
| Bloomberg Law
Kenyan borrowers are being held back by economic headwinds including higher interest rates and increased taxes, according to the East African nation’s largest bank. James Mwangi, chief executive officer of Equity Group Holdings.
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#remittances #kenya #agriculture #horticulture #flowers #fruits #fx…

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By Ramah Nyang 
| LinkedIn News
Take #remittances out of the picture, and agriculture is home to the second largest sources of foreign currency income for Kenya. When one pillar of that – horticulture – has a near 40% fall in earnings, you have to ask what’s going on. 2022 was arguably one of the worst years for Kenya's horticultural sector in the 5-year data set from the National Bureau of Statistics I looked at for this story.
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South Sudan, IMF in Talks on Funding Program to Support Economy

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By Ramah Nyang 
| ndtvprofit.com
Feb 24 2021, 1:26 PMFeb 24 2021, 1:48 PMFebruary 24 2021, 1:26 PMFebruary 24 2021, 1:48 PM (Bloomberg) -- South Sudan is in talks with the International Monetary Fund on financing the nation need to boost its economic recovery, according to the central bank chief. (Bloomberg) -- South Sudan is in talks with the International Monetary Fund on financing the nation need to boost its economic recovery, according to the central bank chief.
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IMF, Kenya Reach Staff-Level Agreement on $2.4 Billion Loan

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By Ramah Nyang 
| ndtvprofit.com
Feb 15 2021, 11:20 PMFeb 16 2021, 7:30 AMFebruary 15 2021, 11:20 PMFebruary 16 2021, 7:30 AM (Bloomberg) -- The International Monetary Fund reached a staff-level agreement with Kenya for a $2.4 billion loan that will partly support the country’s response to the coronavirus. (Bloomberg) -- The International Monetary Fund reached a staff-level agreement with Kenya for a $2.4 billion loan that will partly support the country’s response to the coronavirus.
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IMF, Kenya Reach Staff-Level Agreement on $2.4 Billion Loan (1)

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By Ramah Nyang 
| Bloomberg Tax
Daily Tax Report ® By Ramah Nyang Feb. 15, 2021, 5:50 PM Financing package to help support nation’s Covid-19 response Program’s consolidation effort centered on raising tax revenue The International Monetary Fund reached a staff-level agreement with Kenya for a $2.4 billion loan that will partly support the country’s response to the coronavirus. The three-year deal will also help Kenya begin to reduce its debt relative to gross domestic product, the lender said Monday in a statement.
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Kenya Seeks to Refinance Foreign Commercial Debt at 5% Ceiling

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By Ramah Nyang 
| ndtvprofit.com
Nov 25 2020, 3:05 PMNov 25 2020, 3:58 PMNovember 25 2020, 3:05 PMNovember 25 2020, 3:58 PM
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Motor enthusiast Ramah Nyang’ on rebuilding his dream car

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By Ramah Nyang 
| thepicnicsite.co.ke
We’ve all been there. You’re young, naïve, full of hopes and dreams. You know, the ones you have before you run headfirst into the concrete wall that is life & the numerous responsibilities you didn’t sign up for as an adult member of the human race. In my case, one of them included having a vehicle that could use all of 400horsepower, or more. Doing the 0-100 km/h sprint in about 4 seconds would be nice too. But mostly it was about that number.
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Kenya Central Bank Wants a Say in Lenders’ Dividends This Year

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By Ramah Nyang 
| ndtvprofit.com
Sep 01 2020, 11:18 PMSep 02 2020, 9:40 AMSeptember 01 2020, 11:18 PMSeptember 02 2020, 9:40 AM
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Kenya Airways sees demand fall more than half amid pandemic

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By Eric Ombok , Ramah Nyang 
| Independent Online
By Bloomberg 10m ago By Eric Ombok and Ramah Nyang JOHANNESBURG - Kenya Airways Plc expects demand for air travel for the rest of this year to be less than half the level in 2019 due to the ongoing effect of the Covid-19 pandemic. The partially state-owned East African carrier is starting to resume international flights after the government eased travel restrictions it imposed to help contain the coronavirus.
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Kenya Airways Sees Demand Fall More Than Half Amid Pandemic

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By Eric Ombok , Ramah Nyang 
| ndtvprofit.com
Aug 28 2020, 1:13 PMAug 28 2020, 1:28 PMAugust 28 2020, 1:13 PMAugust 28 2020, 1:28 PM
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Tanzania Cancels Kenya Airways Flights in Row Over Virus Rules

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By Eric Ombok , Ramah Nyang 
| ndtvprofit.com
Aug 01 2020, 1:36 PMAug 01 2020, 2:19 PMAugust 01 2020, 1:36 PMAugust 01 2020, 2:19 PM
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Kenya Airways Pilots Offer Going on Unpaid Leave in Jobs Tussle

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By Ramah Nyang 
| ndtvprofit.com
Jul 07 2020, 10:17 PMJul 07 2020, 10:32 PMJuly 07 2020, 10:17 PMJuly 07 2020, 10:32 PM
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Kenya Airways Begins Job Cuts Amid Nationalization, Virus Losses

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By Ramah Nyang 
| ndtvprofit.com
Jul 04 2020, 1:35 PMJul 04 2020, 1:50 PMJuly 04 2020, 1:35 PMJuly 04 2020, 1:50 PM
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Kenya’s Risk of Distressed Debt Is Growing

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By Ramah Nyang 
| ndtvprofit.com
May 12 2020, 1:53 PMMay 12 2020, 2:11 PMMay 12 2020, 1:53 PMMay 12 2020, 2:11 PM
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Kenya Seeks Debt Relief to Cope With Virus Pandemic

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By Ramah Nyang 
| ndtvprofit.com
May 04 2020, 5:44 PMMay 04 2020, 6:13 PMMay 04 2020, 5:44 PMMay 04 2020, 6:13 PM
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Kenya Bans Movement Within Capital, Coastal Regions

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By Ramah Nyang , David Herbling 
| ndtvprofit.com
Apr 06 2020, 6:16 PMApr 06 2020, 6:41 PMApril 06 2020, 6:16 PMApril 06 2020, 6:41 PM
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Kenya Halts Stocks Trading After Slump on First Coronavirus Case

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By Ramah Nyang , David Herbling 
| ndtvprofit.com
Mar 13 2020, 8:38 PMMar 13 2020, 8:53 PMMarch 13 2020, 8:38 PMMarch 13 2020, 8:53 PM
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World Bank Urges Kenya to Go Easy on e-Commerce in Revenue Drive

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By Ramah Nyang , David Herbling 
| ndtvprofit.com
Oct 31 2019, 6:16 PMOct 31 2019, 6:31 PMOctober 31 2019, 6:16 PMOctober 31 2019, 6:31 PM
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Reporter's Diary: A taste of Africa at the CIIE

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By Ramah Nyang 
| CGTN
Reporter's Diary: A taste of Africa at the CIIE 2018-11-10 15:56 GMT+8 Updated 2018-11-10 20:10 GMT+8
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China Signs Agreements Opening Access to Kenyan Farm Exports

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By Ramah Nyang 
| ndtvprofit.com
Nov 09 2018, 10:24 AMNov 09 2018, 12:46 PMNovember 09 2018, 10:24 AMNovember 09 2018, 12:46 PM
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Shanghai city view: Further, faster and higher

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By Ramah Nyang 
| CGTN
Shanghai city view: Further, faster and higher Technology By Ramah Nyang 2018-11-02 23:25 GMT+8
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IMF raises Kenya’s debt risk a notch up

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By Ramah Nyang 
| businesslive.co.za
It urged Kenya’s Treasury to refinance debt using concessional loans to lengthen maturities in the coming year and limit commercial credit for projects with high social and economic returns. While most of Kenya’s public debt is concessional, the commercial portion has increased after the nation issued Eurobonds in 2014 and February 2018, and extended the maturity of a syndicated loan to seven years earlier this year.
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IMF Raises Kenya's Risk of Debt Distress to Moderate From Low

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By Ramah Nyang , Adelaide Changole
| ndtvprofit.com
Oct 24 2018, 6:43 AMOct 24 2018, 6:59 AMOctober 24 2018, 6:43 AMOctober 24 2018, 6:59 AM
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Thread by @Ramah_Nyang: "It does appear Kenya’s backed itself into an interesting legal tight spot, on this issue of the VAT exemption on petroleum products coming t […]" #FinanceBill

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By Ramah Nyang 
| threadreaderapp.com
It’s been public knowledge for 2 years that this exemption was going to end now. Ideally, what should have happened is that the VAT Act should have been amended in Q1/Q2-18. [1] make the exemption permanent [2] remove the exemption for good [3] kick the can down the road
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Kenyan Motorists Plan Street Blockades Over Planned Fuel Levy

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By Ramah Nyang 
| ndtvprofit.com
21 Aug 2018, 9:38 AM21 Aug 2018, 9:53 AM21 August 2018, 9:38 AM21 August 2018, 9:53 AM
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Big Four Spending Splurge Pushes Kenya to Bet on Tax Increases

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By Ramah Nyang 
| ndtvprofit.com
“Should the government decide to consolidate its fiscal deficit via this avenue, it needs to ensure that the savings it makes and additional revenue it earns are channeled toward enhancing the productive capacity of the economy,” said Jibran Qureishi, an economist at Nairobi-based Stanbic Holdings Ltd. “Only then perhaps one could justify this increase in corporate and income taxes in this current environment.”
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Kenya Retains Rate Caps in New Draft Law for Financial Sector

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By Ramah Nyang 
| ndtvprofit.com
The Financial Markets Conduct Bill seeks to “promote a fair, non-discriminatory marketplace for access to credit, to provide for the establishment of uniform practices and standards in relation to the conduct of providers of financial products and financial services,” according to the document. It also aims to establish the Financial Markets Conduct Authority, the Financial Sector Ombudsman and the Financial Sector Tribunal.
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Kenya Growth Outlook Cut by World Bank Over Credit, Spending

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By Adelaide Changole, Ramah Nyang 
| ndtvprofit.com
A government-imposed cap on commercial lending rates, a drought and two disputed elections have weighed on growth this year in the world’s largest black-tea exporter. The Treasury had to increase its budget-deficit forecast for the year through June and is looking to return to international debt markets for a possible $2 billion Eurobond sale to try to plug the fiscal gap.
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Kenyan Opposition Accuses Police of Killing 215 Since August

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By Bella Genga , Ramah Nyang 
| ndtvprofit.com
“These are basically signs to try and intimidate and blackmail the people of Kenya,” Odinga said Monday. “Mr. David Ndii has committed no crime and we know why Ndii is being harassed here -- and we know that the matter is not ending with Mr. David Ndii. I know that other people are going to be arrested.”
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Safari.com sees Amazon as model for Kenya e-commerce platform - Tech News | The Star Online

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By Bella Genga , Ramah Nyang 
| The Star (Malaysia)
Safaricom Ltd. of Kenya plans to introduce an e-commerce platform within eight months targeting formal retail and informal online trading in East Africa’s biggest economy, directors at the company said. Known as Masoko, Swahili for markets, it will offer products ranging from electronics to beverages and cosmetics, and provide a tool for people currently buying and selling goods on social-media platforms such as Facebook, Director of Enterprise Business Rita Okuthe said in an interview.
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Kenya Government Reviews Mine Laws as Industry Struggles to Grow

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By Ramah Nyang 
| ndtvprofit.com
“We want to be attractive, but we also want to get the most out of our resources, based on the spirit of win-win,” Kazungu said in an interview June 30 in the capital, Nairobi. “The investor must get a good return on their investment, but win for government, and win for the community as well.”
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Motoring: What's the point of an SUV?

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By Ramah Nyang 
| The Star (Kenya)
I don’t like SUVs. They’re bulky, massive, lumps of steel on the road, which have only one occupant [most of the time]. That’s a lot of wasted space. Moving all that mass around takes a lot of power, and fuel, so they tend to go through fuel at a frightening pace without a commensurate payoff in performance. And yet, they are an increasingly popular vehicle option on our roads. Clients love them for their size, the brand in some cases, the ride height, and their vast interior space.
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South Sudan: Slippery slope

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By Ramah Nyang 
| Financial Mail
Suspending Africa’s newest nation from regional bloc is unlikely to resolve the country’s crisis. WHAT IT MEANS: UN forces are lax in their protection of civilians. A war-torn south sudan allowed into the EAC There was so much promise, on a sunny, jubilant day in South Sudan in July 2011 when the world’s newest nation was created. How could the world know that five years later neighbouring Uganda, Ethiopia and Sudan would each be home to more than a quarter of a million South Sudanese refugees?
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Insecurity Is Destroying Kenya’s Economy

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By Ramah Nyang 
| Foreign Policy Magazine
Uhuru Kenyatta is very good at rhetoric. He’s not so good at keeping Kenya safe. Now, the president is telling Kenyans that this shortcoming is no shortcoming at all, because Kenya has problems no one can solve. In the meantime, the Kenyan economy is paying the price of his inaction. Late last month, an attack by the militant group al-Shabab in the northeastern city of Mandera claimed the lives of 28 citizens.
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