EU imposes expensive visa rules for Kenyans in transit
27 June 2022
Good Morning. The number of Kenyans taking loans to meet their daily needs has increased. Data from the World Bank and KNBS survey revealed that the number was 55% in March, up from 13% in February.
EU imposes expensive visa rules for Kenyans in transit
On Tuesday, the Kenyan embassy in Paris issued a circular notifying Kenyan travelers to obtain transit visas before flying through the European Union to other destinations in Europe.
This means an adult passenger from Kenya heading to the US via Amsterdam must pay 85 euros at the Dutch embassy in Nairobi or its agents to obtain a Schengen transit visa.
A Schengen visa is a short-stay permit that allows a person to travel to any member of the Schengen area, for up to 90 days for tourism or business.
people exempted from this requirement
diplomats and senior government officials.
Persons holding a valid visa issued by a Schengen state.
Members of a state of the European Union or the European economic area, the principality of Andorra, Canada, Japan, Republic of San Marino or the United States.
Flight crew members of a contracting party to the Chicago convention and International Civil Aviation
COVID-19
Kenya reinstated mandatory mask-wearing
Kenya has reinstated mandatory mask-wearing in indoor public spaces including public service vehicles and flights to tame the spread of Covid-19.
The country recorded a positivity rate of 12.6% Last Monday, the highest in four months.
252 people tested positive from a sample of 1,993 with one patient admitted to the intensive care unit on ventilator support.
Of the 75 admitted to hospitals, 11 were on supplemental oxygen.
Approximately 3,081 patients were in home-based care.
Health minister Mutahi Kagwe announced that the number of infections was "worryingly high" and if the trajectory continued, the August elections could be affected.
Failing to adhere to the mandatory wearing of masks in all indoor meetings could lead to fines of up to Sh20,000 or 6 months in jailMARKETS
NSE is Africa’s third worst performing stock market
The Nairobi Securities Exchange (NSE) was ranked eighth among the 10 top stock markets in the continent with a return of negative 30% in dollar terms since the year started.
The market analysis by investment bank EFG Hermes showed that Ghana and Egypt tied as the worst-performing markets with returns of negative 32% in ranking. The Nigeria Stock Exchange is the top performer with 21% returns, market analysis done by investment bank EFG Hermes shows.
The performance of African stock markets has been weighed down by a reduced appetite for emerging markets after a jump in interest rates in the United States. MERGERS AND ACQUISITIONS
Insurance regulatory Authority approves Jubilee & Allianz insurance merged operations
The Insurance Regulatory Authority gave Jubilee General Insurance and Allianz Kenya the go-ahead to combine their general insurance businesses to create an entity with annual premiums of Sh3.9 billion.
Backstory: Global general insurer Allianz SE acquired a majority stake in Jubilee General Insurance and renamed it Jubilee Allianz General Insurance.
The acquisition was part of transactions in five markets including Uganda, Tanzania, Mauritius and Burundi that will see Jubilee Holdings receive a total of Sh7.75 billion for the sale of majority stakes in its general insurance subsidiaries to Allianz.
INTELLECTUAL PROPERTY
High Court orders Internet Service Providers to block Sports pirating websites content
The Kenya High Court has ordered internet service providers (ISP) in the country to permanently block sports pirate websites infringing on copyrighted material. Justice Wilfrda Okwany directed Safaricom and Jamii Telecom to pull down content that should be viewed exclusively on Multichoice’s SuperSport channel.
Backstory
MultiChoice filed the case in 2019 seeking to compel the telcos to block live streaming of sports on its networks. According to the pleadings, 141 websites host content that MultiChoice said was infringing on copyright material.
The High Court had in November 2020 issued a temporary order directing the ISPs to disable the websites but Safaricom moved to the Court of Appeal and managed to suspend the decision, arguing that the telco would suffer losses and reputation if the decision remains in force.
Looking forward
The decision marks the first time the court has sanctioned takedown notices to enforce copyright protections.
WHAT YOU MUST HAVE MISSED THIS WEEK
Kune foods shut down operations in Kenya
Kune Food, a Kenya-based cloud kitchen closed down last week.The startup, founded in December 2020 to offer ready-to-eat affordable meals, conducted a trial in Kenya in the early months of 2021 before officially beginning operations later that year.
In a LinkedIn post, Robin Reecht, the startup’s founder and CEO, announced the closure after failing to raise funds to keep up operations, while blaming the “economic downturn and investment markets tightening up.”
Kune’s investors included the pan-African venture capital firm Launch Africa Ventures, who led its pre-seed round last year, Century Oak Capital GmbH and Consonance.
Increase in price of maize flour
The price of a 2KG packet of maize flour breached the Ksh 200 mark. This set upward pressure on inflation as Kenyans grapple with a rise in the cost of other basic goods
Kenya airways issues statement explaining Baggage Delays from Europe
Kenya Airways(KQ) has told customers to bear with the current baggage system failures at London Heathrow over the past weekend.
KQ stated that affected customers would be supported by airport teams and receive a missed baggage reference number at their destination.
“Customers can view updates on the status of their baggage by entering the missed baggage reference number online.”
International Finance Corporation and French Private Fund Sell 30% of Naivas Stake
A consortium comprising World Bank’s International Finance Corporation (IFC) and French private fund Amethis have sold an estimated 30 per cent stake in Naivas Supermarket.
The stake was sold to a cluster of investors led by Mauritian conglomerate IBL Group.