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Saturday, April 25, 2026
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Stanbic’s DADA Loans Clock Ksh 8.4 Billion

Stanbic Holdings PLC’s flagship inclusion programme, Dare to Aspire Dare to Achieve (DADA) platform has dished out loans amounting to Ksh 8.4 Billion in the first half of 2023.

The Bank committed KES 20 billion to finance women in a bid to support SMEs, particularly low-income housing projects and women-owned firms. 

Since its launch 3 years ago, the platform has attracted more than 63,000 new ‘Dadas’ and disbursed loans amounting to KES 8.4b in the first half of 2023.

Stanbic Bank strengthened its retail banking business by refocusing attention on financing SMEs and youth to reduce overreliance on stockbroking and bancassurance.

This comes after shareholders and investment experts expressed worry about the lender’s increasing pressure on net interest margins and sought a strategic strategy to expand its retail franchise, client base, and total revenues.

Standard Chartered Bank (Kenya) stated in its annual report that one of its goals for 2025 is to be among the top retail banks in the area by expanding its mass presence.’

According to the report, the middle segments, defined as those earning between $6,000 and $36,000 per year, would account for 70% of the expansion in Africa’s retail banking revenue pools through 2025.

KSSSA Games: St Anthony’s Draw Shanderema In Semis As Agoro Sare Duel With Dagoretti

After three matchdays in which the big boys of secondary schools tried to avoid meeting each other in the first knockout phase the die is cast as hosts Shanderema are drawn against St Anthony’s Boys while Nairobi’s Dagoretti High have a date with destiny Nyanza’s Agoro Sare.

Dago upset St Anthony’s 1-0 in Group B’s final fixture to top the pool and as a result, got paid with Group A’s second-placed Agoro Sare who failed to dislodge Shanderema from the top spot.

Dagoretti drew first blood when in the 25th minute Dismas Ongocho turned their dominance into the lead with a brilliant goal scored from distance.

Dago had until then run the show without inflicting any damage to seasoned participants at the national stage St Anthony’s Boys.

They could have added to their tally were it not for St. Anthony’s custodian Lazarus Odhiambo who pulled miraculous saves to deny Thierry Henry and Meshack Nyabuto before half-time.

Dago carried their lead into the 2nd half with St Anthony’s pressing for a leveler which nearly arrived in the 70th minute.

St Anthony’s aerial threats invaded Dago’s goal area to attack a corner and their exciting defender Amos Wanjala connected powerfully with the in-swinger.

It took marvelous reflexes by Dago’s goalkeeper Kessing Ocharo to deny Wanjala and St Anthony’s what seemed to be certain goal.

The keeper was called upon again in the last minute of the game as he punched off Kevin Musambai’s header onto the crossbar and out to safety as Dago held on for the victory.

St Anthony’s and Shanderema will play the first semi tomorrow at Bukhungu Stadium before Agor Sare and Dagoretti take to the pitch.

Public Servants To Receive 10% Salary Increment Effectively From 1st July

Starting on July 1, 2023, employees of the public sector will receive a pay rise of between seven and ten percent over the next two years.

Chairperson of the Salaries and Remuneration Commission (SRC), Lyn Mengich, stated that this increment includes the current notch rise, which typically increases by 3% yearly, and is applicable to all state executives as well as the general public service.

“Those who will benefit from the increment include Executive State Officers, Parliament State Officers, Judiciary State Officers, County State Officers, Teaching Service, Civil Service, Uniformed and Discipline Forces and other Public Officers,” said Mengich.

Mengich, speaking to the media on Wednesday in Nairobi, stated that the SRC has established a four-year review cycle for pay and benefits in the public sector, with the first cycle lasting from 2013/14 to 2016/17 and the second cycle lasting from 2017/18 to 2020/21.

Mengich stated that the financial years 2021/22 to 2024/25 are covered by the third compensation and benefits review cycle.

She continued by saying that the salary structures were frozen for the first two years of the third cycle, which ran from the years 2021/22 to 2022/2023, because to the adverse economic conditions brought on by the COVID-19 epidemic.

“In 2022, the economy sustained a growth momentum that started in 2021 after the recovery from the effects of the COVID-19 pandemic, hence a review for the third and fourth years of the third cycle,” she said.

She clarified that the evaluation protects public employees from losing purchasing power due to a decline in the real worth of their compensation and benefits to the extent of affordability and fiscal viability.

According to the commission chair, when they applied to the National Treasury for cash to execute wage increases, they were told to work with Sh. 21.7 billion rather than the Sh. 340 billion they had asked for.

“The government’s wage bill, which has now crossed the Sh.1 trillion mark when compared to the ratio of the revenue collected, has declined from 51.5 percent in the financial year 2017/18 to 43.5 percent in the financial year 2022/23, and it is projected to further decline to 40.5 percent in the financial year 2023/24 against a target of 35 percent as stipulated in the Public Finance Management Regulations 2015,” said Mengich.

She also emphasised that a process of streamlining allowances will start in 2021 in order to secure the financial sustainability of the public service pay bill and to establish transparency, accountability, equity, and fairness in compensation.

“In phase one, which was implemented in the last financial year, three allowances ceased to be payable and they include plenary seating allowance and ministerial allowance, resulting in an annual cost savings of Sh. 1.7 billion and the taxable car allowance resulting in cost savings of Sh. 9.7 billion over a period of four years,” said  the SRC Chairperson.

Stanbic Posts Ksh 7.1 Billion Profit After Tax

Stanbic Holdings Plc has announced a sh 7.1 million profit after tax for the half-year period ended June 2023.

Speaking during the launch of the Half-year financial results, Stanbic Kenya and South Sudan’s Chief Executive, Dr Joshua Oigara stated that focused execution of the Group’s strategy was critical to delivering strong results despite a challenging operating business environment.

“Our business delivered strong results despite challenging market and geopolitical dynamics all of which caused monetary and fiscal pressure. We seized opportunities and navigated macro and micro challenges, sustaining growth in our Kenya and South Sudan businesses.”

Dr. Oigara vowed to intensify its portfolio in key sectors including trade, consumer, power infrastructure and SMEs in Kenya and South Sudan.

Total revenue increased by 38% to sh 21 billion while return on equity rose by 472bps.

Customer deposits increased by 10% to stand at KES 259 billion, while loans and advances to customers grew by 12% to close at ksh 244 billion.

Mr Dennis Musau, Stanbic’s Chief Financial and Value Officer, stated that the Group’s strategy assisted in navigating the challenging operating environment.

“In the period under review, we had strong momentum in our fundamentals, helping us deliver client and shareholder value. Our client-centric approach continues to bear fruit enabling us to deliver strong growth in all revenue lines and key balance sheet drivers,’’ said Musau.

“Supported by high operational efficiency and market focus, Stanbic’s banking business in South Sudan remained profitable as we continued to facilitate payments and intermediate foreign currency flows for our clients,’’ Musau added.

Stanbic has been praised for its many initiatives.

Through the Dare to Aspire Dare to Achieve (DADA) platform, the Bank has committed KES 20 billion to finance women.

Since its launch 3 years ago, the platform has attracted more than 63,000 new ‘Dadas’ and disbursed loans amounting to KES 8.4b in the first half of 2023.

Ecuador Presidential Candidate Villavicencio Assassinated

An Ecuadorian presidential candidate known for speaking up against cartels and corruption was shot and killed Wednesday at a political rally in the capital, amid a startling wave of gang-driven violence in the South American country.

President Guillermo Lasso confirmed the assassination of Fernando Villavicencio and suggested organized crime was behind his slaying, less than two weeks before the Aug. 20 presidential election.

“I assure you that this crime will not go unpunished,” Lasso said in a statement. “Organized crime has gone too far, but they will feel the full weight of the law.”

Ecuador’s attorney general’s office said that one suspect died in custody from wounds sustained in a firefight after the killing, and police detained six suspects following raids in Quito.

In his final speech before he was killed, Villavicencio promised a roaring crowd that he would root out corruption and lock up the country’s “thieves.”

Prior to the shooting, Villavicencio said he had received multiple death threats, including from affiliates of Mexico’s Sinaloa Cartel, one of a slew of international organized crime groups that now operate in Ecuador.

He said his campaign represented a threat to such groups.

“Here I am showing my face. I’m not scared of them,” Villavicencio said in a statement, naming detained crime boss José Adolfo Macías by his alias “Fito.”

Villavicencio was one of eight candidates, though not the front-runner. The politician, 59, was the candidate for the Build Ecuador Movement.

Supporter Ida Paez said that Villavicencio’s campaign had given her hope that the country could overcome the gangs. At the rally, she said, “We were happy. Fernando even danced. His last words were, if someone messes with the people, he is messing with my family.”

As drug traffickers have begun to use the country’s coastal ports, Ecuadorians have reeled from violence not seen for decades.

The sounds of gunfire ring in many major cities as rival gangs battle for control, and gangs have recruited children.

Just last month, the mayor of the port city of Manta was shot and killed.

On July 26, Lasso declared a state of emergency covering two provinces and the country’s prison system in an effort to stem the violence.

Former vice president and candidate Otto Sonnenholzner said in a news conference following Wednesday’s killing, “We are dying, drowning in a sea of tears and we do not deserve to live like this. We demand that you do something.”

Videos of the rally on social media appear to show Villavicencio walking out of the event surrounded by guards.

The video then shows the candidate getting into a white pickup truck before gunshots are heard, followed by screams and commotion around the truck.

This sequence of events was confirmed to The Associated Press by Patricio Zuquilanda, Villavicencio’s campaign adviser.

Lasso said “the murderers” threw a grenade into the street to cover their flight, but it didn’t explode. Police later destroyed the grenade with a controlled explosion, he added.

Zuquilanda said the candidate had received at least three death threats before the shooting, which he had reported to authorities, resulting in one detention. He called on international authorities to take action against the violence, attributing it to rising violence and drug trafficking.

“The Ecuadorian people are crying and Ecuador is mortally wounded,” he said. “Politics cannot lead to the death of any member of society.”

Villavicencio was one of the country’s most critical voices against corruption, especially during the 2007-2017 government of President Rafael Correa.

He was also an independent journalist who investigated corruption in previous governments, later entering politics as an anti-graft campaigner.

Villavicencio filed many judicial complaints against high-ranking members of the Correa government, including against the ex-president himself.

He was sentenced to 18 months in prison for defamation over his criticisms of Correa, and fled to Indigenous territory in Ecuador, later receiving asylum in neighboring Peru.

Edison Romo, a former military intelligence colonel, said the anti-corruption complaints made Villavicencio “a threat to international criminal organizations.”

Lasso, a conservative former banker, was elected in 2021 on a business-friendly platform and clashed from the start with the left-leaning majority coalition in the National Assembly.

A snap election was called after Lasso dissolved the National Assembly by decree in May, in a move to avoid being impeached over allegations that he failed to intervene to end a faulty contract between the state-owned oil transport company and a private tanker company.

Ecuador’s constitution includes a provision that allows the president to disband the assembly during a political crisis, but then requires new elections for both the assembly and the presidency.

Diana Atamaint, the president of the National Electoral Council, said the election date, Aug. 20, was “unalterable” due to constitutional and legal mandates, as well as electoral activities that have already been approved by the council.

The country has faced a series of political upheavals in recent years.

Authorities said that at least nine others were injured in the Wednesday shooting, including officers and a congressional candidate, in what they described as a “terrorist act.”

The killing was met with an outcry by other candidates who demanded action, with presidential front-runner Luisa González of the Citizen Revolution party saying “when they touch one of us, they touch all of us.”

Villavicencio was married and is survived by five children.

Drama As MP Kaluma Walks Out Of Live Interview

Homa Bay Town MP Peter Kaluma walked out of KTN News TV interview amidst a heated debate with Gatundu South MP Gabriel Kagombe.

It all started after Kagombe accused Kaluma and his Azimio La Umoja One Kenya Coalition Party colleagues of ‘using’ Kenyans in their anti-government protests as human shields.

“When this is the person you invite me to talk national issues with, I have no business. By the way Ken, I have kept out of the media for a very long time. Over one year, when you are in leadership, you can’t afford to be childish on matters affecting Kenyans. You people are juveniles. Kenya belongs to all Kenyans not just you,” Kaluma fired back at Kagombe.

While speaking on the issue, Kaluma questioned some of the things mentioned by police IG, amongst them the hiring of bodies by the Azimio wing to fake deaths during anti-government protests.

Well, during the interview Kaluma got angry and removed his mic before dramatically walking out of the news room.

“You can’t call me here to engage such juvenile characters. Kenya is bigger than you people,” Kaluma said as he walked out of the conversation.

The gatundu south parliamentarian said that Azimio had been using innocent kenyans as shields to gain political mileage.

He alleged that so many lives had been lost during protests all for the reason that Raila and his allies wanted a piece of the current government.

Eric Omondi, His Lover Lynne Welcome A Bouncing Baby Girl

Comedian Eric Omondi and his fiancée Lynne have welcomed a bouncing baby girl into their family.

A happy Omondi shared the good news via his socials – expressing his joy of welcoming a newborn into his young family.

At the same time, the Comedian revealed that they have named their bundle of joy Princess Kyla Omondi.

The couple announced on July 22, 2023, that they were expecting a baby girl into their family.

They made the announcement during a lavish surprise gender reveal party that Omondi had organized together with his close friends.

The lovebirds used a waterfall to reveal the gender of their unborn baby. Videos shared online from the party reveal that the love birds are expecting a bouncing baby girl into their family.

“It’s a Baby Girl,” Eric Omondi shared.

The invite-only gender reveal party was graced by Omondi’s family and close friends among them Amber Ray and Kennedy Rapudo.

The two went public with their pregnancy a few months ago – after Lynne lost her first pregnancy.

Marakwet West Liquor Outlets Shut Due To Licencing Violations

In a recent crackdown on licencing compliance, authorities in Marakwet West closed down 12 liquor outlets for failing to adhere to necessary regulations.

The closures, aimed at ensuring public safety and proper operation, have been met with mixed reactions from both business owners and the local community.

Among the affected establishments, three bars were forcibly closed in Cheptongei, while an equal number met the same fate at Chebiemit Market.

Additionally, six bars located in Kapsowar were shut down, bringing the total number of closures to ten. Authorities have cited various licencing violations as the primary reasons behind these drastic actions.

A significant issue highlighted during the operation was the use of temporary structures to house some of the establishments.

Such makeshift structures were found to be inadequate for meeting the rigorous standards set by licencing authorities, which required bars and liquor outlets to operate from permanent, structurally sound buildings.

Marakwet West Sub-County Administrator Patrick Maiyo emphasised that permits could not be granted to bars situated within mud structures.

Owners of the affected businesses are now faced with the task of finding suitable alternative premises if they wish to resume operations.

Furthermore, several of the closed businesses lacked essential facilities such as outhouses, a crucial requirement for the proper functioning of bars.

Maiyo underscored the significance of sanitary facilities, stating, “Lack of toilets is a health hazard as most of the people coming for services at the bar are likely to openly pee or defecate in the surrounding areas.”

During the inspection process conducted jointly by public health officials and police officers, it was revealed that three establishments failed to comply with the “300-meter rule.”

This rule mandates that liquor outlets be at least 300 metres away from public institutions, including schools, churches, mosques, and hospitals.

Violating this regulation not only compromises public safety but also raises concerns about the potential negative influence of alcohol-related establishments in close proximity to educational and healthcare institutions.

In a bid to encourage compliance and prevent further closures, the authorities have issued a warning to other operational liquor outlets that have yet to apply for licences.

These establishments have been granted a three-week grace period to regularise their licencing status, failing which they could also face forced closure.

This move underscores the government’s commitment to enforcing licencing regulations strictly and ensuring the well-being of the local population.

As the affected business owners grapple with the sudden closures and the need for extensive adjustments to their operations, community members are divided in their opinions.

While some support the crackdown as a necessary step towards maintaining order and public health, others express concern over the abruptness of the closures and their potential impact on local livelihoods.

In the coming weeks, the focus will remain on the efforts of business owners to comply with the licencing regulations and on the authorities’ commitment to creating a safe and regulated environment for alcohol consumption within Marakwet West.

The recent closures are a stark reminder that adherence to licencing rules is not just a legal requirement but a fundamental aspect of responsible business operation.

Outrage In Vihiga Over Bounced Bursary Cheques

A group of parents from Emabungo ward in Vihiga is demanding an explanation from the county government regarding alleged bounced bursary cheques.

Addressing the matter at Kima, the parents said certain secondary schools imposed fines on them after discovering that they had submitted empty cheques as part of the county government’s assistance for school fees.

Judith Olenja, expressing her concerns, stated, “I have a student at Kevehe Girls high school who received an allocation of Sh3,000 from the Emabungo ward bursary committee. However, I was taken aback when the school informed me that the cheque had bounced, resulting in an additional fine of Sh1,000.”

Melisa Ndale, another parent, reported that her child was listed as a beneficiary but did not receive the cheque due to a purported lack of a chequebook.

Expressing their dissatisfaction, another parent stated, “Our governor needs to thoroughly investigate this situation. If any wrongdoing is uncovered, those responsible should face severe consequences.”

This parent further criticized the unequal distribution, noting that some individuals openly boast about receiving Ksh.20,000 bursary cheques while others are allocated only Ksh.3,000.

Expressing their disappointment with their local Member of County Assembly (MCA), Michael Okoba, the parents indicated that he had not adequately addressed their grievances. They even threatened to organize protests to demand justice.

On his part, the Emabungo ward MCA confirmed receiving complaints from approximately seventeen parents regarding the issue of bounced cheques.

“The County’s education department is investigating the provision of blank cheques to certain students while other beneficiaries were overlooked. I assure you that this problem will not recur,” assured Okoba, who also serves as the Chair of the Vihiga County Assembly Education Committee.

Pastor Mackenzie: Kill Me And Throw My Body In River Yala

Paul Mackenzie, 50, a Kenyan cult leader accused of ordering his followers of the members of the Good News International Church to starve themselves to death in Shakahola forest, appears at Malindi Law Courts, in Malindi, Kenya, May 2, 2023. REUTERS/Stringer

Pastor Paul Mackenzie, embroiled in the controversy surrounding the demise of over 400 people in Shakahola, Kilifi County, has accused authorities of infringement on his rights.

In an appearance at the Shanzu Law Courts on Wednesday, Mackenzie caused a stir by passionately exclaiming that both his and the rights of his 15 co-accused companions were being violated while under custody.

Chanting “Haki yetu” (Our rights), he asserted that the denial of bail symbolized the government’s intention to persist in their rights abuses and harsh treatment.

“I’ve endured two days without food and bathing due to being confined in darkness around the clock. Those in authority are orchestrating this treatment, so I’m left wondering who will come to my aid?” questioned Mackenzie.

The televangelist from the Good News International church alleged torture while in detention. He disclosed to the court that he had been confined to a dark cell and his appeals to be allowed outdoors for some sunlight had fallen on deaf ears.

He went so far as to suggest that the government should consider killing him rather than subjecting him to the ordeal of imprisonment.

“If you’re weary of our presence and have no intention of granting us basic human decency, you might as well end our lives and dispose of our bodies in River Yala. After all, we’ll all meet our end someday. This court needs to intervene as I am undergoing tremendous suffering,” pleaded the pastor.

The prosecution requested a 47-day extension for Mackenzie’s detention in order to conclude their investigations. The court is slated to deliver its decision on the prosecution’s appeal on Thursday.

With over 425 individuals confirmed dead in the suspected cult tragedy, the toll continues to rise, with more than 600 individuals still reported missing.

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