Ben Farrell, the Global Chief Executive Officer of the Chartered Institute of Procurement and Supply (CIPS), is in Nairobi, Kenya, for a week-long visit. His trip, from August 8–15, aims to engage leaders on procurement and supply chain issues, signaling significant developments for CIPS's East African strategy.

• Farrell's schedule includes meetings with government officials and academic leaders, notably discussing a CIPS study centre at KCA University.
• He will deliver keynote addresses at KCA University and Daystar University, and headline a forum on “The Future of Supply Chain & CIPS Strategic Positioning.”
• According to CIPS Kenya President Joshua Gitoho, the visit is expected to lead to enhanced training, stronger regulatory partnerships, and expanded professional certification opportunities across Kenya.

The Central Bank of Kenya (CBK) has reduced its base lending rate by 25 basis points to 9.5 percent, effective August 12. This decision aims to stimulate economic activity and lower borrowing costs amidst stable inflation and a recovering economy.

• The new base lending rate is now 9.5 percent, down from 9.75 percent.
• The decision was made by the Monetary Policy Committee (MPC) of the CBK on August 12.
• Factors supporting the rate cut include a stable banking sector, adequate foreign exchange reserves covering 4.8 months of imports, and a narrowing current account deficit.
• Diamond Trust Bank Kenya Limited had already lowered its interest rate on shilling-denominated loans from 14.41 percent to 14.21 percent per annum last month.

Kenya is grappling with a soaring debt burden and its impact on the nation’s ability to fund essential services, sparking a debate on necessary fiscal adjustments. As debt servicing costs consume a significant portion of its revenue, the country faces tough choices in prioritizing public spending.

• Kenya’s foreign debt stands at KSh 11.5 trillion, with a debt-to-GDP ratio of approximately 66.8%.
• Debt servicing for the current year is about KSh 1.8 billion, representing approximately 67.1% of the country’s revenue, well above the IMF’s recommended threshold of 30%.
• This month, the government will spend KSh 68.7 billion on external debt repayments, significantly impacting official forex reserves.
• Payments to China for the Standard Gauge Railway (SGR) loans contracted in 2014 and 2015 amounted to KSh 55.8 billion in July, accounting for 81.3% of total external debt service for that month.