Investment professionals from the Chartered Financial Analysts Society East Africa have urged for the harmonisation of African Capital Markets, highlighting the need for legal and regulatory reforms during a conference in Kigali, Rwanda. Key sectors such as technology, renewable energy, and agriculture were identified as essential for economic growth and job creation. The experts also emphasized the importance of dismantling trade barriers, enhancing regional integration, and investing in infrastructure. Rwanda's Finance Minister Uzziel Ndagijimana described the efforts as part of a transformative chapter for Africa's economy. Partnerships with local Rwandan authorities aim to improve investment and financial literacy, with FinAcco Hub training 175 candidates for the CFA Programme by December 2023.

Kenya has the lowest percentage of youth Not in Education, Employment, or Training (NEET) in Africa at 15%, with a notable gender disparity as females are almost twice as likely to be NEET compared to males. The country's high literacy rate contributes to this, with men more educated than women. The Africa Youth Employment Clock, developed by World Data Lab and the Mastercard Foundation, shows Kenya's youth employment in services at 52%, with 89% of jobs created between 2020 and 2023 in this sector. Despite a high youth employment rate of 60%, 89% of young Kenyans work in the informal sector. The Clock aims to provide real-time job growth data and forecasts for African youth employment trends through to 2030, supporting the Mastercard Foundation's mission to enable 30 million young Africans to find dignified work by 2030.

President William Ruto of Kenya is facing criticism from the public for not fulfilling his promises, as well as pressure from the International Monetary Fund and the judiciary. The situation presents a complex dilemma for Ruto, who must navigate these challenges while in office.

New Faces New Voices, under the Graça Machel Trust, and Kayana are collaborating to enhance the resilience of women-led businesses in Kenya through insurance products. NFNV chairperson Caroline Armstrong-Ogwapit emphasized the importance of insurance for business continuity and growth, particularly for micro and small businesses. A pilot group was convened to raise awareness about business risks and insurance solutions. The initiative aims to co-create gender-responsive insurance products, with input from insurance companies like Britam, Prudential, Liberty, and Madison Insurance, as well as KCB Bank's Innovations team. A study by Viffa Consult found that only 26% of women-led SMEs in Kenya have insurance coverage.

Hong Kong has surpassed Dubai as the leading hub for Russian gold trading, importing a record $2.3 billion worth of gold from Russia in the first eight months of 2023. This surge is linked to US sanctions on Russian gold miners and a crackdown on illicit bullion market activities in the UAE. The Hong Kong dollar's peg to the US dollar, a strong financial system, and a history of trade with Russia contribute to this trend. The shift could support the Russian economy amid sanctions, complicate enforcement of Western sanctions, and raise concerns about money laundering. It may also increase gold demand and prices, introduce market volatility, and affect market transparency.

The Energy and Petroleum Regulatory Authority of Kenya, represented by director general Daniel Kiptoo, has credited the government-to-government (G-to-G) oil plan with saving the Kenyan economy from sinking and softening the cost of living. The plan, involving Gulf oil firms such as Emirates National Oil, Abu Dhabi National Oil, and Saudi Aramco, has reduced exchange rate volatility and pressure on the Kenyan shilling by allowing local oil marketers to receive fuel on credit terms and sell it in shillings. Payments to suppliers are made in dollars collected over 180 days, managed by local banks like Kenya Commercial Bank. The plan has been criticized by some as selfish and short-sighted, but Kiptoo argues that its success is evidenced by neighboring countries like Uganda adopting similar strategies. The plan has delivered 42 cargos and paid 13 letters of credit worth $1.001 billion, with renegotiations leading to reduced freight and premium costs, which are expected to lower retail fuel prices.

The International Monetary Fund (IMF) has reached a staff-level agreement to expand its financing to Kenya by $938 million (Sh142.6 billion), which allows immediate access to a $682.3 million (Sh103.7bn) tranche. The agreement awaits IMF management approval and Executive Board consideration, expected in January 2024.

Tullow Oil has secured a $400 million five-year debt facility with Glencore to manage its senior notes maturing through 2026. The deal includes an oil marketing and off-take contract for Tullow's crude oil entitlements in Ghana and Gabon. The facility, along with Tullow's cash on hand and expected free cash flow, will address outstanding 2025 Notes and aid in refinancing the 2026 Notes. The transaction is seen as a strong endorsement of Tullow's business plan and strategy, and it brings hope to the firm's operations in Africa, including the stalled Turkana oil plan in Kenya. Talks are ongoing with three Indian state-run oil companies for a stake in Tullow's Kenya block.

Kenya has selected Citi and Standard Bank as joint lead managers for a potential dollar-denominated debt, signaling a return to the Eurobond market. The National Treasury announced the appointment after a procurement process, with the transaction dependent on market conditions. Experts predict high interest rates for the new Eurobond due to downgrades by credit rating firms and a warning from the IMF about high yields on Eurobonds. The government is committed to repaying $300 million of the inaugural Eurobond from 2014, with President William Ruto addressing the debt concerns in his State of the Nation address. Kenya's Eurobonds have seen increased yields, and the government faces currency devaluation pressures, leading to a revised repayment plan for the initial Eurobond.

Ransomware attack dwell times have decreased by 72% as firms improve their cybersecurity measures, integrating detection technologies and hiring experts. Sophos' field CTO, John Shier, reported at GITEX in Dubai that median attacker dwell time reduced to five days for ransomware attacks. The retail sector has become a softer target, with 71% of organizations hit by ransomware reporting successful data encryption. The report highlights the need for retailers to enhance their defenses, as recovery costs for those paying ransoms are significantly higher than for those using backups.

Kenya has seen a 99% increase in pasta deliveries, ranking second globally in pasta order frequency growth. Glovo's report highlights a significant rise in pasta consumption, with Nairobi leading in deliveries. The growth is attributed to an increase in pasta-SMEs on the Glovo app, which supports local businesses. Ivy Maingi, Glovo's interim general manager, notes a 72.3% increase in partners offering pasta. SMEs have seen a 101% growth, with Nairobi, Mombasa, and Ngong-Rongai-Karen being the top consuming regions. Syokimau, Kisumu, and Thika have the highest growth rates. Popular dishes include Chicken Alfredo and Spaghetti Bolognese. Kenya also follows the global trend of increased online grocery orders, with a 44.5% growth in the past year and an 83.6% surge in pasta orders from online groceries.

The 'Pink Ladies Show', a new drama series featuring Dorea Chege, Azziad Nasenya, Shiks Kapyenga, Pascal Tokodi, and Brenda Gesare, will air on StarTimes's Rembo TV starting November. Directed by Reuben Odanga, the series revolves around four single women navigating life's complexities and promises a mix of love, romance, comedy, and drama. It will be broadcast Monday to Friday from 8:00 PM to 8:30 PM.

The Energy and Petroleum Regulatory Authority (EPRA) has announced an increase in fuel prices for the month, with super petrol up by Sh5.72 per litre, diesel by Sh4.48, and kerosene by Sh2.45 in Nairobi. The new prices are Sh217.36, Sh205.47, and Sh205.06 per litre respectively, inclusive of VAT and adjusted for inflation. The government's stabilisation mechanism, funded by the Petroleum Development Levy, has mitigated the potential higher increases. The G-to-G arrangement has helped ease USD liquidity issues and slowed the shilling's depreciation. The government has secured 41 petroleum import cargoes under this program and negotiated reduced premiums with suppliers.

Kenya has seen a reduction in car theft, with less than 1 out of 100,000 people losing their vehicles, which is below the global and continental averages. The 2023 Automotive Industry Awards recognized Autotronix Telematics as a key player in the automotive sector. CEO Martin Mugo highlighted the importance of leveraging technology and information for automotive security solutions in Kenya. The fluctuating private car theft rate indicates the need for enhanced security, and there is potential for local solutions to meet the growing demand for services like fleet management.

The article discusses the challenges faced by Kenya's health industry in providing quality healthcare for all. It highlights the acute shortage of health workers, with only 75% of registered medical professionals considered active. Efforts to address this include the Emergency Hire Plan, distance education programs, and the opening of new medical training facilities. Despite these efforts, the retention of medical workers remains a challenge due to poor pay, leading to a high rate of migration to the private sector or abroad. The article also touches on the financial aspects, noting the decline in health budgets and the government's commitment to improving health outcomes. Additionally, it mentions the growth of medical tourism in Kenya, with investments in medical facilities and equipment to attract patients from neighboring countries. The article concludes by acknowledging the strides made in the health sector despite financial and resource limitations.