FRED OLUOCH

Crypto market meltdown linked to sell-offs triggered by inflation

Sunday May 22 2022

A man buys bitcoins at a Bitstop ATM in Miami. Last week, the cryptocurrency market witnessed one of the worst meltdowns with Bitcoin falling by more than 50 percent. PHOTO | AFP

Summary

With the price of Bitcoin, the largest and most popular cryptocurrency, falling by over 50 percent since November 2021, crypto-traders are now counting cumulative losses of at least $1.2 trillion over the period.
But this has not affected the appetite for the volatile digital assets as traders believe the prices will soon rise and stabilise.

By VINCENT OWINO

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The cryptocurrency market witnessed one of the worst meltdowns last week, with the total market capitalisation falling by 40 percent to $1.3 trillion in just a month, but traders stay put, confident that the market will soon revamp.

Experts say the meltdown was caused by massive sell-offs spiked by speculations due to rising inflation in most countries, coupled with a move by some nations, including the US, UK, Australia and India, to raise interest rates to tackle rising commodity prices.

“The effect of raising interest rates is that as people reduce their expenditure, they also reduce their investments, and that cuts across the crypto, stocks and equity markets,” said Rufas Kamau, a Nairobi-based financial markets analyst and researcher.

Massive losses

With the price of Bitcoin, the largest and most popular cryptocurrency, falling by over 50 percent since November 2021, crypto-traders are now counting cumulative losses of at least $1.2 trillion over the period. But this has not affected the appetite for the volatile digital assets as traders believe the prices will soon rise and stabilise.

Timothy Kamau, a Nairobi-based cryptocurrency investor, told The EastAfrican: “I’m not sure how long it will take to resume, but I know eventually the prices will rise again. That’s why I haven’t lost interest.”

Based on statistics by global crypto assets tracker CoinMarketCap, Bitcoin’s price rose from about $26,000 last week on Thursday and is currently trading at just above $30,000.

“It has been worse before, and still prices revamped. This is certainly not any different,” remarked Eric Michubu, a Bitcoin entrepreneur.

The worst affected cryptocurrency was the fairly new Luna, which had been trading at about $116, but slumped to $0.0002. Digital asset traders say the collapse of Luna sparked fears among smallholder retail investors in other digital assets, causing them to sell off to avoid the risks.

“It is possible that there was market manipulation to instigate the fears, leading to the sell-offs, because what happened with Luna is unnatural,” said Mr Michubu.

High volatility is among the main reasons regulators — including the Central Bank of Kenya, the Capital Markets Authority and the International Monetary Fund — have consistently warned against cryptocurrencies, encouraging other forms of digital currencies like central bank digital currencies.

For regulators, crypto-investments remain a challenge because they siphon out money that would otherwise be invested in the countries’ stock and equity markets, which suffer low domestic participation.

But Mr Kamau says global trends show that whenever investments in crypto markets fall, so do those in equity and capital markets, which means that the cryptocurrency meltdown will not benefit regional bourses.

“When people sell-off investments in the crypto markets, it is usually due to the same reasons people sell-off in the stocks and equity markets,” he said.

The effect of sell-offs has also been felt at the Nairobi Securities Exchange (NSE), which shed $2.5 billion in one month since April 13, as foreign investors fled.

In the headlines

Political will is evident as Africa accepts green growth

Green growth is crucial in preventing depletion of natural resources.

High fuel, commodity prices dampen Museveni’s first year in his sixth term

East Africa remains haven for genocide fugitives

Africities proposes blueprint for African urban development

Ethiopia tops global list of highest IDPs

Airtel Africa recalls bonds, sells towers

Political will is evident as Africa accepts green growth

Sunday May 22 2022

Green growth “promotes and maximises opportunities for sustainable economic development by building resilience and managing resources efficiently.” PHOTO | FILE

Summary

Green growth is “the means to promote and maximise opportunities for sustainable economic development through building resilience and managing resources efficiently.”
Report warns that despite this political commitment, “broader stakeholder buy-in and participation are required to formulate and implement inclusive, locally relevant policies and solutions.”

By VINCENT OWINO

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African leaders across the continent are increasingly showing commitment towards promoting sustainable economic development, a new report has shown, reflecting the changing political will.

The Africa Green Growth Readiness Assessment Report, compiled by the Africa Development Bank (AfDB) and the Global Green Growth Institute (GGGI), sought to establish how nine strategic and operational aspects, including political commitment, in seven African countries promote green growth.

Green growth has been assessed by AfDB and other lenders of being crucial in preventing depletion of natural resources.

The findings reveal that in each of the seven case study countries — Kenya, Rwanda, Morocco, Mozambique, Gabon, Senegal, and Tunisia — there is significant political commitment, shown by the involvement of high-level government officials, including heads of state, in championing green growth agenda.

Green growth is “the means to promote and maximise opportunities for sustainable economic development through building resilience and managing resources efficiently.”

Broad participation

In Kenya, for example, President Uhuru Kenyatta chairs the National Climate Change Council, which is responsible for overall coordination of climate change affairs, including guiding the implementation of the national climate change action plan.

The other countries have also “enshrined fundamentals of green growth, including the right to a clean and safe environment and citizens’ right to consultation, in their constitutions” it states.

It, however, warns that despite this political commitment, “broader stakeholder buy-in and participation are required to formulate and implement inclusive, locally relevant policies and solutions.”

The report also looked into how government institutions, policy ecosystems, legal environments and regulations, financing and budgeting, research, human resources, and instigated monitoring and reporting systems impact green growth.

It also poked holes into the countries’ readiness in terms of “re-evaluating their budgeting structures in view of the paradigm shift needed for joint implementation at sectoral and sub-national levels.”

In the headlines

Crypto market meltdown linked to sell-offs triggered by inflation

A man buys bitcoins at a Bitstop ATM in Miami.

Market shed off 40pc in capitalisation as the US, UK and India raised interest rates to tackle commodity prices.

High fuel, commodity prices dampen Museveni’s first year in his sixth term

East Africa remains haven for genocide fugitives

Africities proposes blueprint for African urban development

Ethiopia tops global list of highest IDPs

Airtel Africa recalls bonds, sells towers

High fuel, commodity prices dampen Museveni’s first year in his sixth term

Saturday May 21 2022

Fresh food produce sold at Nakasero market in Kampala. Consumers are feeling the pinch of rising food prices. PHOTO | FILE

Summary

The last time President Museveni addressed the nation about the increasing prices was Labour Day, when he advised Ugandans to choose between buying bread and cassava.
Finance minister Matia Kasaija told the nation to brace for the worst, saying the government cannot intervene and or reduce taxes.
Household budgets and operating costs in Uganda have risen sharply in the face of the government’s stance not to give a tax rebate on fuel, adding uncertainty to economic recovery.

By KABONA ESIARA

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The high cost of living, a widening budget deficit, corruption and growth uncertainties continue to blot Ugandan President Yoweri Museveni’s sixth term in office.

The president, expected to address the nation this weekend after the end of the first year of his current term, has been facing calls from businesses and the public to tame the escalating cost of commodities, especially fuel, whose retail price has risen over 70 percent in the past year.

The last time President Museveni addressed the nation about the increasing prices was Labour Day, when he advised Ugandans to choose between buying bread and cassava.

Finance minister Matia Kasaija told the nation to brace for the worst, saying the government cannot intervene and or reduce taxes.

Household budgets and operating costs in Uganda have risen sharply in the face of the government’s stance not to give a tax rebate on fuel, adding uncertainty to economic recovery.

Although the Bank of Uganda says the economy is recovering from the pandemic downturn, domestic growth weakened in March 2022 due to the rising prices of food and fuel.

Juliet Najjinda, manager of tax services at PricewaterhouseCoopers Uganda, said it is time the government introduced a fuel subsidy to reduce pump prices, as the manufacturing sector is feeling the heat.

“It is no longer sustainable to leave the fuel price to market forces,” said Ms Najjinda, adding that the government collects between Ush1,200 ($0.33) and Ush1,300 ($0.36) per litre of fuel.

Opposition Members of Parliament Cecilia Ogwal, Muwanga Kivumbi and Anthony Akol said that until the government comes up with specific funding, the greater north -— Busoga, Bukedi, Teso, Karamoja, Acholi, Lango, and West Nile — will continue suffering.

“The outlook of the country seems to indicate there are two countries in one; the greater North and South,” said Mr Kivumbi, the shadow minister of finance and economic planning. “If not addressed, it poses a threat to the security of and posterity of the country.”

Corruption

Willis Bashasha, director of manifesto implementation in the Office of the President, said that they are facing challenges in carrying out their policies.

“Corruption is our biggest enemy. It affects the implementation of the projects,” he said.

Although the government has set up institutions to fight corruption, there is still a lot to be done. A survey by the Inspectorate of Government found that the country loses Ush20 trillion ($5.5 billion) to corruption annually in key government agencies, and Ush590 billion ($161.7 million) in fraudulent procurement deals.

The report has helped Parliament question multimillion-dollar contracts that the government has single-sourced. Members have called on the government to cancel the deal giving Uganda Vinci Coffee Company Ltd exclusive rights to buy all Uganda’s coffee. In 2019, the same company was contracted to manage the construction of the stalled Lubowa Specialised Hospital without being subjected to a competitive bid process. The government issued a promissory note of $397 million.

In the 2021/2022 budget, the hospital was given Ush348 billion ($95.4 million) and, in the 2022/2023 budget proposals before the Committee on Finance, additional Ush319 billion ($87.4 million) is allocated to the project.

Political finance watchdog Alliance for Financial Monitoring says single sourcing seems to be synonymous with big-ticket procurement deals.

“This makes it by far the most expensive hospital to be built in Uganda, in comparison to Kiruddu, which cost Uganda $25 million. The Lubowa hospital project is about 16 times more expensive,” said Henry Muguzi, a member of the lobby. “The lack of transparency around this procurement exposes the process to abuse. This is what is unravelling in the Lubowa hospital case, which makes it subject to financial crime.”

The increase in administrative units is also putting pressure on the national budget. From 14 districts in the country in the 1960s, there are now 146 districts.

Stretched resources

“A lot of resources have to be used to cater for the new units, which affects delivery of services as resources get overstretched,” Mr Bashasha said.

Uganda faces a perennial problem of running a budget deficit, given the low domestic revenue collections.

“Over the past decade, Uganda’s tax-to-GDP ratio has increased by over three percentage points to about 12 per cent. It stagnated at this level in the years prior to the Covid-19 pandemic. Although during the pandemic revenues declined, the tax-to-GDP ratio held up well,” said Izabella Karpowicz, resident representative of the International Monetary Fund Uganda.

Ms Karpowicz said Uganda has to increase domestic revenue collection by 0.5 percent of GDP per year.

She said further stagnation in revenues could push Uganda to borrow more or contain spending, including on priority outlays. This would further delay implementation of the sustainable development goals.

President Museveni’s year has borne some good fruits, such as the restoration of relations with Rwanda, culminating in the opening of the border at Katuna. Rwandan President Paul Kagame visited Uganda to attend Gen Muhoozi Kainerugaba’s 48th birthday party last month. It was the first visit in four years.

Uganda’s deployment and collaboration with Democratic Republic of Congo forces to root out Islamist rebels of the Allied Democratic Forces - who have been destabilising the region, killing thousands of people in the past two decades - is also a positive act. The government has also started on the construction of roads in the DRC as part of efforts to ensure security, promote trade and access new markets in the vast mineral-rich country.

In the year, President Museveni also hosted Mozambican president Felipe Nyusi and the two countries committed to strengthen co-operation in defence and security, immigration, agriculture, energy, petroleum and mineral Development.

In the headlines

Crypto market meltdown linked to sell-offs triggered by inflation

Market shed off 40pc in capitalisation as the US, UK and India raised interest rates to tackle commodity prices.

Political will is evident as Africa accepts green growth

Green growth is crucial in preventing depletion of natural resources.

East Africa remains haven for genocide fugitives

Africities proposes blueprint for African urban development

Ethiopia tops global list of highest IDPs

Airtel Africa recalls bonds, sells towers

JOHNSON-SMITH: I will take the Commonwealth agenda further as it evolves into a stronger entity

Saturday May 21 2022

Jamaican Foreign Minister Kamina Johnson-Smith hopes to be the next Commonwealth Secretary-General. PHOTO | AFP

Summary

I bring extensive leadership experience and strong relationships with member countries. I propose to apply a visionary, innovative and transparent approach to the job, within a results-based framework.
My vision for the Commonwealth is aligned with areas of concern of member countries. This includes promoting robust efforts towards the sustainable development goals as part of recovery from the pandemic.
My candidacy underscores the value and principles of the Commonwealth — as an opportunity for all member states, big and small, developed and developing, to play a leading role in the collective pursuit of their sustainable development goals.

By BERNA NAMATA

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Jamaican Foreign Minister Kamina Johnson-Smith, a contender for the Commonwealth Secretary-General position, spoke with The EastAfrican’s Berna Namata.

Why do you think you are the best candidate for the job of Commonwealth Secretary-General?

The Commonwealth can accomplish much more than it has so far. Now is an opportune time for the community of nations, with shared values and goals, to evolve into a stronger entity for the economic and social development of its member states.

I bring extensive leadership experience and strong relationships with member countries. I propose to apply a visionary, innovative and transparent approach to the job, within a results-based framework.

I have successfully held leadership posts both regionally and internationally, serving as president of the OACPS Council of Ministers, Chair of CARIFORUM and the CARICOM Council on Trade and Economic Development. Jamaica has also served as ACP co-ordinator at the World Trade Organisation since 2019. The co-ordination is led by me and my team in Geneva. I was the first Jamaican Foreign Minister to be invited to G7 and G20 ministerial meetings.

What are your priorities for the Commonwealth if you get the seat?

My vision for the Commonwealth is aligned with areas of concern of member countries. This includes promoting robust efforts towards the sustainable development goals as part of recovery from the pandemic. Advancing gender and youth empowerment while intensifying advocacy on climate action, climate finance and resilience, as well as re-investment in the capacity of the Secretariat to deliver critical technical support to member states, among other areas, are of strategic priority.

Critics say the Commonwealth is largely a talking shop, and outdated due its origins in the British Empire. What reforms are needed to make the group effective and relevant?

The Commonwealth is diverse, comprising countries across five regions of the world, each at various stages of development, but importantly, it unites peoples who have a shared desire for peace and prosperity, drawing on their interconnectedness. My candidacy underscores the value and principles of the Commonwealth — as an opportunity for all member states, big and small, developed and developing, to play a leading role in the collective pursuit of their sustainable development goals.

What is your take on the work of the Commonwealth on issues such as the separation of powers, rule of law, and human-rights?

Since its inception, the Commonwealth has placed human rights as a core value and guiding principle. The Commonwealth remains committed to equality and respect for the protection and promotion of civil, political, economic, social and cultural rights, including the right to development for all, without discrimination on any grounds, as these are the foundations of peaceful, just and stable societies.

What needs to be done to strengthen the Commonwealth monitoring and oversight mechanisms such as the Ministerial Action Group?

The Commonwealth Ministerial Action Group (CMAG) was created to assess violations of values and recommend measures to restore democracy and constitutional rule.

In my first days in office, in pursuance of the work being undertaken by the CMAG, I hope that I can play a more supportive good offices role, particularly where the intersection of social and political issues impedes development processes of critical importance to the lives of the people of the Commonwealth.

Some commentators say the Commonwealth has done nothing useful over the past decade. How do you view such criticism?

While it certainly is less the household name it used to be, the fact that 54 states have come together in an association speaks for itself. A unique facility is the Commonwealth Fund for Technical Co-operation, which delivers targeted support in areas in which the Commonwealth has a competitive advantage. Admittedly we must generate re-investment in the Fund as it is one of the most outstanding examples of effective Commonwealth co-operation.

With Brexit, there is speculation that the UK could return the Commonwealth to a trading bloc?

The Commonwealth presents an opportunity for the UK to establish robust trade relations with member countries. Together, we can examine areas for possible partnerships. There are other opportunities as well, given the growth of countries ratifying the AfCFTA.

You visited several African countries. How can the Commonwealth promote South-South co-operation?

During my visit to Africa, I met with representatives of eight member states. South-South co-operation promotes integration and synergies among developing and some emerging economy countries to mitigate difficulties. It presents opportunities for countries to share best practices and forges trade, investment and financing relationships. We can leverage the Commonwealth in promoting these opportunities.

***

BIO

Kamina Johnson-Smith is an attorney-at-law who worked in private practice for 17 years, including 13 at Cable & Wireless Jamaica.

She holds a Bachelors of Arts Degree in French from the University of West Indies as well as a Bachelors of Laws Degree also from the University of the West Indies.

She pursued graduate studies at the Norman Manley Law School, and attained a Masters Law Degree in Commercial Law from London School of Economics and Political Science. She speaks French as a foreign language.

In the headlines

Crypto market meltdown linked to sell-offs triggered by inflation

Market shed off 40pc in capitalisation as the US, UK and India raised interest rates to tackle commodity prices.

Political will is evident as Africa accepts green growth

Green growth is crucial in preventing depletion of natural resources.

High fuel, commodity prices dampen Museveni’s first year in his sixth term

East Africa remains haven for genocide fugitives

Africities proposes blueprint for African urban development

Ethiopia tops global list of highest IDPs

Airtel Africa recalls bonds, sells towers

#JusticeForShireen: Who will call this journalist’s killers to account?

Saturday May 21 2022

Veteran journalist Shireen Abu Aqleh during one of her reports from Jerusalem in this undated handout photo released by Al-Jazeera TV. She was shot dead by Israeli troops early on May 11, 2022 as she covered a raid on Jenin refugee camp in the occupied West Bank, according to the network. PHOTO | AL JAZEERA | AFP

Summary

The Israeli authorities were quick to deny any responsibility, as they do every time something like this happens, even suggesting that Shireen could have been hit by a Palestinian bullet!
But it soon became clear that this was rubbish, when the Israeli military attacked the crowd escorting Shireen’s cortège to her burial site, beating up the mourners and almost capsizing her coffin, an abomination in every faith you can think of.

By JENERALI ULIMWENGU

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Time and again, something happens just to remind us that we live in a truly cynical world, in which politicians and governors only care for what works for them in the here-and-now calculations of crass political gains.

Such an occasion was once again offered with the killing of Shireen Abu Aqleh, who was shot by the Israeli military in Jennin a week ago.

The Israeli authorities were quick to deny any responsibility, as they do every time something like this happens, even suggesting that Shireen could have been hit by a Palestinian bullet!

But it soon became clear that this was rubbish, when the Israeli military attacked the crowd escorting Shireen’s cortège to her burial site, beating up the mourners and almost capsizing her coffin, an abomination in every faith you can think of. The indignity of that attack on the cortège erased any doubt that could have existed as to the murderers of the journalist. The hatred for the young woman was demonstrated in all in its ugliness by that act.

Israeli forces

It is so simple to understand why Israeli forces will deliberately target any journalist documenting their crimes in occupied Palestine. Since 1948 when Israel was established through the forceful removal of hundreds of thousands of Palestinians — thrown off their land and made to live in refugee camps such as the one in which Shireen was killed —this has been the pattern.

What the Palestinians called al Nakba (the Catastrophe) of 1948 was not an event, and it continues to this day with the illegal settlements of Jews continuing on Palestinian land, evicting the lawful owners. I was watching the other day the story of a woman who, having been evicted as a baby back in 1948, was now being expelled from the refuge she had taken back then. In other words, she was being tuned into a double evictee.

The documentation of such crimes is what the Israeli authorities do not want to happen, because they show the true colours of a regime that more and more sections of world opinion have begun to recognise as an Apartheid system akin to what we got rid of in Pretoria in 1994. Shireen’s work was helping to shed more light on the atrocities committed by Israel, and she simply had to be stopped. Many other journalists in occupied Palestine have paid this hefty price.

The usual hypocrisy of the powerful came into play when the American president, Joe Biden apparently “did not have all the facts” to pronounce himself on the assassination, despite the fact that Shireen was actually an American citizen with the right to claim protection from the US government.

But how can the Americans provide that protection when the knee-jerk defence of Israel — no matter what she does — is a cornerstone of US foreign policy, including unquestioning funding and other forms of support in security and military spheres

Cruel version

In fact, the bullet that went into Shireen’s head could have been an American bullet. That reminds me of Anton Myrer’s classic novel, Once an Eagle. The shafts striking you are your own, or a cruel version of “friendly fire.”

The continuation of America’s unthinking support for the state of Israel is truly baffling, but it is a fact that the long-suffering people of Palestine (and the whole wide world) will have to live with till something really fundamental changes in international relations, and that is something we cannot put a time-frame to.

It is not possible to say with certainty when American world hegemony will finally wane, though we know it definitely will have to.

What we can do in the meantime is to demand that those occupying other countries illegally — a heinous crime in itself — abide by norms of civilised society when dealing with journalists in war and crisis situations.

It is the role of such people to brave the dangerous conditions caused by such conflicts in order to bring to the world as accurate accounts as possible so as to allow the world to know how to behave toward whatever is going down in the area concerned, and perhaps craft a way of ending the conflict. Deliberate targeting of journalists hampers such efforts.

It goes on and on. A couple of years ago, another American journalist was killed inside the Saudi consulate in Istanbul, and his killers have not been hard to identify, although they remain secure from sanctions. Jamal Khashoggi remains a silent witness to the murderous brutality of the Saudi regime, which, like Israel, is a valued client of Washington’s.

American politicians

It is now almost accepted universally that Israel cannot do wrong in the eyes of American politicians, that she can literally get away with murder, which is exactly what happened in the case of Shireen’s shooting.

I would expect our governments to show they are concerned with this kind of behaviour by a government they have diplomatic relations with, but unfortunately who among our governments would like to raise issues concerning a dead journalist?

Jenerali Ulimwengu is now on YouTube via jeneralionline tv. E-mail: [email protected]

In the headlines

Crypto market meltdown linked to sell-offs triggered by inflation

Market shed off 40pc in capitalisation as the US, UK and India raised interest rates to tackle commodity prices.

Political will is evident as Africa accepts green growth

Green growth is crucial in preventing depletion of natural resources.

High fuel, commodity prices dampen Museveni’s first year in his sixth term

East Africa remains haven for genocide fugitives

Africities proposes blueprint for African urban development

Ethiopia tops global list of highest IDPs

Airtel Africa recalls bonds, sells towers

Gender and integrity shape Kenyan presidential election campaigns

Saturday May 21 2022

Azimio La Umoja One Kenya Alliance presidential running mate Martha Karua. PHOTO | FILE

Summary

The presidential race has attracted more than 40 contenders, 38 of them independents.
Political pundits say Mr Odinga’s choice of former Justice minister Martha Karua and Dr Ruto’s nomination of Mathira MP Rigathi Gachagua could change their focus areas in the campaigns to scrutinise the running mates’ records.

By ONYANGO K’ONYANGO

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Kenya’s presidential election could be won or lost on the campaign themes of gender and integrity. The two frontrunners — Deputy President William Ruto and former Prime Minister Raila Odinga — have named their respective running mates in line with timelines set by the Independent Electoral and Boundaries Commission (IEBC).

The presidential race has attracted more than 40 contenders, 38 of them independents. Political pundits say Mr Odinga’s choice of former Justice minister Martha Karua and Dr Ruto’s nomination of Mathira MP Rigathi Gachagua could change their focus areas in the campaigns to scrutinise the running mates’ records.

Mr Gachagua was in the public service in the 90s as a provincial administrator and even served as a personal assistant of President Uhuru Kenyatta before he became MP in Nyeri County, Central Kenya in last elections.

Mr Odinga, now on his fifth stab at the presidency, named an erstwhile opponent Ms Karua, herself a Raila peer in the Second Liberation. She comes from Kirinyaga County, next door to Nyeri in Central Kenya. Both Mr Ruto and Mr Odinga are targeting the vote-rich Mt Kenya region, where the Kikuyu ethnic group, is the majority and also Kenya’s largest tribe.

Mr Odinga has been lauded for choosing a woman as running mate for the first time in his presidential bids. If the Azimio team wins the presidency, Ms Karua will be Kenya’s first woman deputy president. That prospect has excited gender equity activists and supporters of the Azimio la Umoja formation.

Prof Masibo Lumala of Moi University said Mr Odinga will use gender card against his rival at a time when the world is watching the moves by some popular female leaders such as President Samia Suluhu in Tanzania and Kamala Harris, who is just a heartbeat away from becoming the leader of the world’s most powerful nation — the US.

“The gender question remains important. Raila believes in gender equality wanted to demonstrate that by picking Martha Karua,” Prof Lumala said.

Dr Ruto’s choice of Mr Gachagua, the don said, seemed to have been influenced by the fact that he could bring in campaign resources that others who had been touted as possible running mates could not.

“Rigathi Gachagua brings money, which his main competitor for the (running mate) post Prof Kithure Kindiki could not have brought. Tribe, region, money and party loyalty seem to have played out,” said Prof Lumala.

Prof Kindiki, a senator and Dr Ruto’s lawyer and adviser, seemed to be a favourite for the post. He comes from Tharaka-Nithi County in the Mt Kenya East. Mt Kenya’s 10 counties control nearly a third of the country’s total votes, with Meru having 780,858 registered voters, Tharaka-Nithi (234,618), Embu (337,627), Nyeri (492,046) and Kirinyaga (378,580). Murang’a has 628,416, Kiambu (1,293,309), Laikipia (265,842), Nyandarua (362,357) and Nakuru (1,050,367), all totalling to 5,824,020. Kenya’s 2019 population census results put the total population of those enumerated at 47,564,296, with women as the majority at 24.014 million. Machakos Governor Alfred Mutua and leader of the Maendeleo Chap Chap party, who recently ditched the Azimio team for Dr Ruto’s side, told The EastAfrican that Mr Gachagua was chosen due to his perceived ability to unite Mt Kenya region around their candidate.

“Many factors made DP Ruto to settle on Mr Gachagua and they are, vast experience, his commitment to improving the plight of the poor, a unifying force and excellent mobiliser,” said Mr Mutua.

“His age was also a qualification because we wanted a person who has the knowledge and experience that would double what Ruto has, especially on matters business. To represent the interest of the Kikuyu community, matters business are critical and we need someone who will understand how politics interferes with business,” said Kiambu Woman Representative Gathoni Wamuchomba.

“We began with Gachagua, we have suffered in the trenches and he has the requisite experience required in terms of having worked in government and serving as personal assistant of President Kenyatta,” added Didmus Barasa, a legislator from Kimilili constituency.

In the headlines

Crypto market meltdown linked to sell-offs triggered by inflation

Market shed off 40pc in capitalisation as the US, UK and India raised interest rates to tackle commodity prices.

Political will is evident as Africa accepts green growth

Green growth is crucial in preventing depletion of natural resources.

High fuel, commodity prices dampen Museveni’s first year in his sixth term

East Africa remains haven for genocide fugitives

Africities proposes blueprint for African urban development

Ethiopia tops global list of highest IDPs

Airtel Africa recalls bonds, sells towers

IEBC begins to feel pressure from aspirants

Saturday May 21 2022

Kenya's Independent Electoral and Boundaries Commission (IEBC) Chairman Wafula Chebukati. PHOTO | FILE

Summary

After a particularly dark chapter of the electoral management history in 2007, when a presidential election dispute drove the country to the brink of a civil war, the commission has undergone reforms in subsequent elections to try to regain public confidence.
Its top officials are competitively selected and undergo parliamentary vetting during hearings aired live on national television.

By OTIENO OTIENO

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Kenya’s electoral commission has come under renewed pressure from presidential campaigns alleging bias or inaction against external interference.

Deputy President William Ruto’s United Democratic Alliance (UDA) party on Tuesday fired its latest protest letter to the Independent Electoral and Boundaries Commission (IEBC), complaining about the country’s ICT minister Joe Mucheru openly campaigning for his rival, Raila Odinga.

Mr Mucheru is not the only Cabinet minister who has attended Mr Odinga’s campaign events ahead of an election in which President Uhuru Kenyatta has endorsed the opposition leader to succeed him.

But Dr Ruto’s party has singled out the ICT minister due to his perceived involvement in the preparation of election-related IT systems.

In actual act, it is the Communications Authority of Kenya (CA), a quasi-autonomous agency, which has a limited role in the election preparations by providing internet connectivity at polling stations to enable electronic transmission of results.

The IEBC uses biometric kits for voter registration and identification and operates a parallel results transmission system, with results of the presidential election sent to the national vote tallying centre from the polling stations both manually and as electronic images.

Where there are any discrepancies, it is the results declared by its officials at the polling stations, filled in hard copy forms and witnessed by campaign agents that count.

The Kenyan electoral commission is relatively independent compared with its peers in the region, which are largely controlled by their respective governments.

After a particularly dark chapter of the electoral management history in 2007, when a presidential election dispute drove the country to the brink of a civil war, the commission has undergone reforms in subsequent elections to try to regain public confidence.

Its top officials are competitively selected and undergo parliamentary vetting during hearings aired live on national television.

It has also increasingly adopted technology to ensure the integrity of the elections.

But suspicions over technology have persisted in the wake of procurement scandals, biometric kit failures and Supreme Court judges questioning the credibility of the electronically transmitted results in their landmark decision nullified the 2017 presidential election.

The judges cited the fact that the official results announced by the IEBC were based on the electronic tally before the manual results were tallied among the irregularities and illegalities that made them overturn the outcome of the election.

In the run-up to this year’s election, the IEBC also has deep-seated personal grudges from the 2017 debacle to deal with.

Mr Odinga, who was challenging President Kenyatta’s victory at the Supreme Court a second time, has not concealed his loathing for the commission’s chairman, Wafula Chebukati.

In the headlines

Crypto market meltdown linked to sell-offs triggered by inflation

Market shed off 40pc in capitalisation as the US, UK and India raised interest rates to tackle commodity prices.

Political will is evident as Africa accepts green growth

Green growth is crucial in preventing depletion of natural resources.

High fuel, commodity prices dampen Museveni’s first year in his sixth term

East Africa remains haven for genocide fugitives

Africities proposes blueprint for African urban development

Ethiopia tops global list of highest IDPs

Airtel Africa recalls bonds, sells towers

Africities proposes blueprint for African urban development

Saturday May 21 2022

Delegates during a session at the ninth Africities Summit held in Kisumu County, Kenya, on May 19, 2022. PHOTO | ONDARI OGEGA | NMG

Summary

More than 64 percent of the urban population in Africa today live in informal settlements, with only 15 percent of urban dwellers able to buy houses.
Undeniably, cities and urban areas are the economic hubs that are home to businesses, industries and investors.
During the summit, there was a unanimous push to develop an African blueprint to guide growth in urban cities.

By RUSHDIE OUDIA

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When a child born this year celebrates their 18th birthday, they will most likely be living in an intermediary city, an agglomeration with a population between 50,000 and one million people that generally acts as a bridge between urban and rural areas.

Yet more than 64 percent of the urban population in Africa today live in informal settlements, with only 15 percent of urban dwellers able to buy houses.

“It will be a major battle to get a job, a home, and start a family. This is the urban future she [the child] will have if we do not change the urban agenda in Africa,” said Maimunah Mohd Sharriff, executive director of the UN Habitat, during ninth edition of the Africities Summit held in Kisumu this past week.

Ms Sharriff believes that despite a strong push for major transformation in the intermediary cities, population growth continues to hurt city dwellers as rapid urbanisation has resulted in slums, inadequate social services, poor physical planning and zoning and social decadence.

In Kisumu, for instance, despite infrastructural development within the central business district, mushrooming informal settlements pose a major threat as big families are crammed into small spaces that lack access to basic amenities like roads, water, sanitation and healthcare.

Undeniably, cities and urban areas are the economic hubs that are home to businesses, industries and investors.

During the summit, there was a unanimous push to develop an African blueprint to guide growth in urban cities.

Others called for greater investment in family planning as more than 20 million women in Africa said they lack access to critical reproductive health services.

Kenya’s President Uhuru Kenyatta said there should be more tangible, practical and sustainable solutions to challenges facing urban areas.

He warned that as focus goes on unleashing the potential of the intermediary cities, the proponents must be aware of marginalising the growing population of rural people.

“This calls for proper planning to create smart cities that meet future urbanisation challenges, plans that address the emerging needs related to food security, shelter, environmental conservation health as well as infrastructure,” said Mr Kenyatta.

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East Africa remains haven for 1994 genocide fugitives

Saturday May 21 2022

The only genocide fugitive nabbed by the UN Mechanism since its inception in 2010 is Felicien Kabuga, arrested in France in May 2020. PHOTO | AFP

Summary

The Democratic Republic of Congo (DRC) and Uganda currently host the biggest number of wanted fugitives, 408 and 277 respectively as of May 19, 2022, according to figures by Rwanda Prosecution Authority (RPA). Tanzania hosts 52, Kenya 35 and Burundi 16.
This is despite these countries, with the exception of Kenya, being signatories to the UN Convention on the Prevention and Punishment of the Crime of Genocide, which obliges states to extradite Genocide suspects for trial to Rwanda or prosecute them in their own courts.

By BERNA NAMATA

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East Africa remains a haven for fugitives accused of committing the Genocide Against the Tutsi almost 28 years after the massacres, with the region hosting 785 fugitives of the 1,147 wanted criminals.

The Democratic Republic of Congo (DRC) and Uganda currently host the biggest number of wanted fugitives, 408 and 277 respectively as of May 19, 2022, according to figures by Rwanda Prosecution Authority (RPA). Tanzania hosts 52, Kenya 35 and Burundi 16.

This is despite these countries, with the exception of Kenya, being signatories to the UN Convention on the Prevention and Punishment of the Crime of Genocide, which obliges states to extradite Genocide suspects for trial to Rwanda or prosecute them in their own courts.

Article 3 of the UN resolution (S/RES/2950) 2014 urges states to “investigate, arrest, prosecute or extradite in accordance with applicable international obligations, all other fugitives accused of Genocide residing on their territories, including those who are FDLR leaders.”

So far, only 28 genocide fugitives have been extradited to Rwanda, with the majority coming from America — six. DRC and the Netherlands have extradited four each, Uganda three and Congo Brazzaville and Malawi one each.

Rwandan prosecutors say they face many challenges but working with countries, especially lack of political will and tricks by fugitives to avoid arrest and extradition, including alleging they are being sought for political persecution.

“We still have challenges, like fugitives changing identities, nationality, residential addresses, false claims related to their death. Also, sometimes we don’t have adequate information related to the whereabouts of the fugitives,” Faustin Nkusi, Spokesperson of Rwanda Prosecution Authority, told The EastAfrican.

While Western countries such as Belgium, Switzerland, Canada, Finland, Norway, France, Sweden, Germany and the Netherlands have so far prosecuted 24 Genocide suspects in their countries, no African country has prosecuted any.

There is concern that some fugitives successfully evade justice till their death, as some key witnesses may also have died or forgotten details of the cases.

Serge Brammertz, prosecutor of the IRMCT, maintains that the lack of cooperation, particularly in East and Southern Africa, remains a challenge despite his office providing evidence of some fugitives’ whereabouts.

Last year, Brammertz told the UN that his office still faced “immense challenges over the last three years in obtaining cooperation,” citing South Africa's failure to arrest Fulgence Kayishema, one the most wanted fugitives.

“Relying on records and sources, my office concluded in early 2018 that Kayishema was living in Cape Town, South Africa. This was confirmed by South Africa via Interpol in August 2018.”

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Massive losses

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Broad participation

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Corruption

Stretched resources

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Israeli forces

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Cruel version

American politicians

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