Author: Ronald Owili

China hits out at British Steel nationalisation

China has hit out at the nationalisation of British Steel, saying it “firmly opposes and is strongly dissatisfied with the British government’s decision”.

On Thursday, the UK government said that taking the loss-making firm into public hands would protect jobs and safeguard a “vital national capability”.

The UK took control of British Steel’s operations in Scunthorpe last year, though it was still owned by China’s Jingye Group, limiting the government’s ability to steer its future.

China’s commerce ministry said on Friday that the moves “seriously infringed upon Jingye’s legitimate rights and interests and severely undermined the confidence of Chinese companies investing in the UK”.

It also called on Britain to “faithfully fulfil” its obligations under the China–UK Bilateral Investment Treaty.

“Disregarding Jingye’s significant contribution to the UK economy and society, the British side forcibly took control of the company in the name of national security,” the ministry said.

The statement added that Beijing would monitor developments closely and support Chinese firms to protect their rights, but did not specify what protecting Chinese companies’ rights might involve.

The decision to nationalise British Steel threatens to strain the relationship between London and Beijing just as Andy Burnham is set to become the prime minister on Monday.

The incoming PM will have to weigh his approach to the issue with the economic benefits of ties with the world’s second largest economy.

The China-UK Bilateral Investment Treaty is a legally binding agreement that was signed in 1986. It was designed to promote and protect.

The nationalisation came after Parliament on Wednesday passed legislation allowing the government to bring the steel industry into public ownership under circumstances where it met a public interest test.

Jingye is seeking compensation, having previously said the business was losing £700,000 a day. The BBC has been unable to get a response from Jingye itself to Thursday’s announcement.

By taking British Steel into public ownership the government now has the power and freedom to decide on the future of the plant, while keeping the blast furnaces going.

It is unlikely the government will want to continue running the business in the long term as it is costing it more than a million pounds a day.

In March, the National Audit Office said the Scunthorpe steelworks was costing the government about £1.3m a day.

Business Secretary Peter Kyle told the BBC the government would need to cover the running costs “for the immediate future”.

If the plant stopped producing virgin steel, the UK would become the only member of the G7 group of leading economies without the ability to make it.

Steel output elsewhere in Britain relies on electric arc furnaces (EAFs), which recycle scrap metal to turn it into new products.

Although the government’s long-term strategy is for all domestically produced steel to come from EAFs, which are cheaper and much less carbon-intensive to run, it does not want to lose production at Scunthorpe yet.

The plant produces types of steel that are not yet made anywhere else in the country, much of it needed by Network Rail and the building industry.

The fear had been that losing this output would be disruptive and make the country too reliant on imports. So the decision was made that Scunthorpe should be kept open until alternatives are available.

British Steel was last under state ownership in 1988 when it was privatised under Prime Minister Margaret Thatcher’s government.

July 17, 2026
Lebanese firm to offer engineering consultancy for Ksh155B JKIA upgrade

The government has appointed Dar Al-Handasah Consultants to oversee the works on the Ksh 155 billion upgrade of the Jomo Kenyatta International Airport (JKIA).

This comes barely a month after awarding the contract for the JKIA Modernisation Project to China Road and Bridge Corporation (CRBC) by the Ministry of Transport through the State Department for Aviation and Aerospace Development.

Dar Al-Handasah Consultants which has signed the Engineer-Consultant Contract is expected to undertake design review, project management, contract administration, and construction supervision for the proposed design, development, and modernisation of JKIA according to Transport Cabinet Secretary Davis Chirchir.

“This marks the beginning of a critical implementation phase as we accelerate the delivery of a modern JKIA that will strengthen Kenya’s position as Africa’s premier aviation gateway and regional air cargo hub. Beyond enhancing passenger experience and operational efficiency, this investment will boost trade, tourism, connectivity, and create new opportunities for economic growth and job creation,” said Chirchir via his official X handle.

Chirchir said the firm brigs expertise which will be instrumental in delivering a modern, efficient, safe, and sustainable airport that meets global standards.

The upgrade of the regional aviation hub will entail upgrade and expansion of existing terminal buildings, rehabilitation of existing airfield, construction of new greenfield terminal facilities and airfield infrastructure.

Other works include aircraft aprons, taxiways, utility works, access roads, aviation systems, operational support facilities and all associated infrastructure which will make the aerodrome competitive.

The project upon completion is expected to increase JKIA’s annually passenger capacity from 7.5 million currently to at least 22 million with the green field terminal alone handling 10 million passenger per year.

July 16, 2026
Buffett calls Bill Gates relationship with Epstein ‘distasteful’

Billionaire investor Warren Buffett has described Bill Gates’ relationship with late sex offender Jeffery Epstein as “distasteful”, but said he himself had made mistakes in life by being friends with people “who weren’t great”.

On Tuesday, Buffett’s firm Berkshire Hathaway stopped giving donations to the Microsoft co-founder’s charity for the first time in 20 years and instead handed his remaining stock to foundations linked to his family.

Buffett told CNBC he and Gates have had a “wonderful friendship” but confirmed his pivot over donations followed Gates’ testimony to US Congress about Epstein.

Gates called Buffett “a dear friend”, adding: “My gratitude to Warren is immeasurable.”

Gates appeared before the US House Oversight Committee in June to answer questions about his relationship with Epstein, who died in a New York prison in 2019 while awaiting trial on sex trafficking charges.

In a transcript of his testimony, Gates said that he had been introduced to Epstein in 2011 as someone who could help raise billions of dollars for global health, which is a key focus of the Gates Foundation.

He said: “I recall being aware that Epstein had faced prior legal issues, but I did not fully understand the extent of the crimes he committed.”

In 2008, Epstein had pleaded guilty to soliciting a minor for prostitution and procuring a person under age 18 for prostitution.

Gates told the committee: “I should never have met with Epstein in the first place. Based on what I know now, I understand that even if he had delivered the donors he promised, it would not have justified associating with him.”

Buffett said on Wednesday he had read Gates’ testimony.

He said: “While it’s distasteful, while he made mistakes, I’ve made mistakes in hiring all kinds of people, choosing friends and finding out later that one way or another they weren’t what I thought they were.

“So, I found nothing in there that was beyond what I could picture myself doing.”

Buffett said the decision to stop donations to the foundation did not come as a surprise to Gates. The two met around three weeks ago for three hours.

The 95-year-old said: “At some point I had read what Congress had come up with, I’d read everything and all I can say is I don’t know whether I’ve done dumber things but I’ve done many dumb things in life.”

Buffett added that he and Gates have had an “enormous number of good times together” since they met in 1991. “It has been a wonderful friendship,” he said.

Gates said: “I cherish the time we spend together. I hope we have much more of it ahead.”

SInce 2006, when Buffett pledged to make annual donations to the Bill and Melinda Gates Foundation, as it was then known, “throughout my lifetime”, he has given $47bn (£34.7bn) to the charity.

But even without his backing, the foundation still holds “very substantial resources”, said Buffett.

In 2025 alone, the Gates Foundation gave away $8.5bn in charitable support.

While Buffett originally pledged a lifetime commitment two decades ago, he explained that his thinking has evolved over time.

When he first made the pledge, Buffett noted that he did not feel his three children were ready to manage such vast sums, but he now believes they are fully capable and deeply aligned with his goals.

July 16, 2026
Kenya to adopt measures to address high cost of animal feed

The government is planning to roll out a Ksh 465 billion National Feed Strategy aimed at reducing the high cost of animal feed.

The strategy is also baked to help in the lowering livestock production expenses and boosting Kenya’s food security and competitiveness in regional markets.

Speaking during the opening of the African Feed Conference and Exhibition (AFEC) 2026 today in Nairobi, Head of the Animal Feed and Nutrition Section at the State Department for Livestock Development, Newton Kariuki, said animal feed accounts for up to 80pc of livestock production costs, making affordable, quality feed critical to increasing the production of milk, meat and eggs.

Kariuki said the government is working with the Association of Kenya Feed Manufacturers (AKEFEMA) and other stakeholders to address persistent challenges facing the feed industry.

He said the 10-year strategy seeks to expand feed and fodder production, strengthen local feed manufacturing and improve livestock productivity, complementing the Livestock Master Plan, which is guiding livestock investments based on agroecological zones.

Kariuki noted that Kenya faces a 60 per cent deficit in animal feed raw materials, forcing manufacturers to rely on costly imports that are vulnerable to tariffs and global supply chain disruptions.

To reduce dependence on imports, the strategy promotes increased local production of key feed ingredients through contract farming while encouraging manufacturers to utilise East African Community duty remission incentives to lower the cost of imported raw materials.

The government is also establishing a Strategic National Feed Reserve to store hay, silage and fodder during surplus seasons for use during droughts.

In addition, the One Ward, One Fodder Initiative targets the production of 300,000 metric tonnes of dry matter annually by 2028 across the country’s 1,450 wards.

Kariuki called for science-based discussions on genetically modified feed ingredients, saying biotechnology could help reduce production costs and improve feed availability while maintaining biosafety standards.

He also raised concern over adulterated and poorly labelled animal feeds, urging stricter enforcement of quality standards and greater investment in precision feed formulation, digital feed quality monitoring, climate-smart forage production and alternative protein sources such as black soldier fly larvae.

“Farmers deserve quality feed because consumers deserve safe animal products. What animals consume ultimately finds its way to our tables,” he said.

Kariuki urged county governments to prioritise feed and fodder production in their development plans, adding that quality feed remains the foundation of a productive livestock sector.

He attributed the country’s growth in milk production to supportive government policies, commercial investment in the dairy industry, improved breeding programmes, artificial insemination services, subsidised fertiliser that has boosted fodder production and rising demand for dairy products.

Meanwhile, AKEFEMA Chairman Joseph Karuri said expanding local production of feed ingredients is the most sustainable solution to lowering feed costs.

He noted that the livestock sector contributes about three per cent of Kenya’s Gross Domestic Product and 40 per cent of agricultural GDP, while supporting millions of livelihoods.

“Kenya currently produces about 2.5 million metric tonnes of compounded animal feed annually, with poultry accounting for 60 per cent of commercial feed consumption and dairy 29pc,”he added.

Karuri said more than 80 per cent of critical feed ingredients, including soybeans, sunflower meal and cottonseed meal, are imported, exposing manufacturers to volatile international markets.

He welcomed the government’s Duty Remission Scheme, which allows eligible manufacturers to import feed ingredients duty-free, but stressed that expanding local production of yellow maize, soybeans, sunflower and canola through contract farming would provide a lasting solution.

“If we produce these raw materials locally, feed prices will reduce significantly because raw materials account for between 70 and 80 per cent of production costs,” he said.

Karuri added that poor animal nutrition remains a major constraint to livestock productivity despite the availability of improved breeds and encouraged farmers to improve forage, hay and silage quality while embracing precision nutrition, automation, biotechnology and climate-smart feeding systems.

House Farm Chief Executive Officer John Muhia said technological innovations are helping manufacturers detect aflatoxins and other mycotoxins before feed reaches the market, improving feed safety and protecting livestock health.

He urged manufacturers to test both raw materials and finished products before releasing feeds for sale to ensure farmers receive safe, quality products.

The African Feed Conference and Exhibition has brought together policymakers, researchers, feed manufacturers and development partners to discuss innovations, investment and policy reforms aimed at strengthening Africa’s livestock sector.

July 15, 2026
Government unveils plans to tackle youth unemployment, skills mismatch

The Government has unveiled three policy frameworks aimed at addressing youth unemployment and bridging the skills gap as part of efforts to prepare Kenyans for an evolving labour market.

Labour and Social Protection Cabinet Secretary Dr. Alfred Mutua launched the National Strategy on Green Skills and Jobs in Kenya, the Business Process Outsourcing (BPO) Policy, and the National Strategy for the Transformation of the Informal Economy during the opening of the fourth edition of the Skill Up Africa Summit at the Kenyatta International Convention Centre (KICC) as Kenya marked World Youth Skills Day.

The two-day summit, organised by the Ministry of Labour and Social Protection, the Ministry of Education and other stakeholders, was held under the theme “Future Skills, Innovation and Opportunity for Kenya’s Youth.”

Mutua said the new frameworks will support the development of a skilled workforce by promoting green jobs, expanding digital employment opportunities and improving livelihoods in the informal sector.

He noted that the changing nature of work requires young people to embrace continuous learning and adapt to emerging technologies.

“The competition today is not about knowledge or information. It is about how you are able to sift through all the information available and use it to enhance yourself,” he said.

The Cabinet Secretary said the government is strengthening industrial attachments, internships and labour mobility programmes to increase access to employment and ensure graduates acquire practical workplace experience.

Defending the labour mobility programme, Mutua said overseas employment offers young people an opportunity to gain international exposure and skills that can contribute to national development.

“Jobs are not just created. Industries have to grow and absorb people. In the meantime, we bridge that gap by sending people overseas to work. They gain skills and come back to help develop our nation,” he said.

He urged employers to expand internship and apprenticeship opportunities, saying collaboration between government and the private sector is critical to creating jobs and addressing skills mismatch.

Mutua challenged young people to invest in their personal growth through discipline, innovation and lifelong learning.

“Nobody owes you anything. The race is yours to run. It doesn’t matter who your father or mother is or where you come from; you can make it if you work hard and build your skills,” he said.

United Nations Resident Coordinator in Kenya Dr. Garry Conille called for stronger partnerships between governments, employers and development agencies to ensure skills training leads to decent work. He also advocated recognition of competencies gained outside formal education to improve opportunities for workers in the informal economy.

Principal Secretary for Labour and Skills Development Shadrack Mwadime said the government is working with industry to align training with labour market needs.

He added that plans are underway to establish incubation hubs in learning institutions to help young innovators refine business ideas before joining the job market.

The summit brought together policymakers, employers, educators, development partners and young innovators to explore solutions that will enhance employability, entrepreneurship and workforce competitiveness.

July 15, 2026
China economic growth falls sharply, missing target

China’s economic growth slowed sharply between the start of April and end of June as weak domestic demand and the Iran war’s impact on oil prices overshadowed the country’s strong exports.

Official gross domestic product (GDP) figures showed the world’s second largest economy grew in the second quarter by 4.3%, below Beijing’s annual target, and after a 5% rise in the first quarter.

It comes a day after government data showed that China’s exports jumped by 27% in June compared to a year earlier.

In March, China cut the growth target to a range of 4.5%-5%, its lowest economic expansion goal since 1991, a move some analysts say gives officials more flexibility in managing the economy.

The announcement represents the first full quarter of GDP data since the start of the Iran war on 28 February and marks the lowest quarterly expansion since the end of 2022, as China was emerging from its strict Covid-19 restrictions.

“The are more external instability and uncertainty factors,” China’s National Bureau of Statistics said in a release accompanying the figures.

It also noted an imbalance between strong supply and weak demand in the domestic economy.

Separate data released on Wednesday highlighted the economic challenges Beijing is facing at home – including a long-running property market slump and weak consumer spending.

New home prices contracted again, although the 0.1% fall in June was at a slightly slower pace than the previous month.

But retail sales rose by 1% in June, improving from a 0.6% decrease in May.

Fabien Yip, a market analyst at investment platform IG told the BBC that China’s businesses are absorbing higher energy and raw materials costs “because demand at the till is too weak to bear it”.

The situation will become more difficult to manage the longer the Iran war goes on, she added.

Customs data for June, which was released on Tuesday, showed that China’s tech exports were boosted by soaring global demand for semiconductors to power artificial intelligence (AI) data centres.

Surging demand for Chinese electric vehicles (EVs) also gave a major boost to China’s exports – with monthly car exports topping one million for the first time.

July 15, 2026
Why wealthy Kenyans are seeking alternative homes in South Africa, UK

The United Kingdom and South Africa have emerged as the most preferred alternatives for wealthy Kenyans seeking to purchase new residential property

Despite domestic property market being the most preferred by High Net Worth Individuals (HNWIs) at 60pc, findings by Knight Frank shows that 25pc prefer to acquire new residential property in the UK compared to 15pc in South Africa.

According to Knight Frank Africa Research Analyst Boniface Abudho, while Kenya remains the destination of choice for the wealthy due to strong confidence and sustained real estate sector activity, the two offshore destinations have are preference due factors such as long term stability and diversified market.

“HNWI now view the property market as both familiar and strategically advantageous which offer perceived stability, long term acquisition potential and better operational oversight compared to peer markets,” said Abudho.

HNWI chose the UK as the second most preferred offshore destination for new residential property due to historical ties, legal and regulatory transparency and perceptions of long term stability.

South Africa on the other hand has been considered by Kenya’s wealthy to it being a more mature and diversified economy as well as a well-developed financial system and sophisticated commercial and residential property markets.

“Investors are making disciplined allocation decisions based on market familiarity, long term asset performance, and the ability to actively manage their investments. While international diversification remains important, domestic investments continue to play a central role in portfolio construction.” he added.

Nonetheless, the Wealth and Investment Trend by the firm shows that Kenyan investors are also shifting their portfolios beyond traditional property markets.

Top investment options include data centres, logistics, Real Estate Investment Trusts, renewable energy and professionally managed rental housing.

“The modern investor is looking beyond conventional asset classes. There is growing interest in investments that combine income, resilience and long term growth. This reflects a more sophisticated approach to wealth creation,” said Mark Dunford, CEO of Knight Frank Kenya.

Knight Frank says the shift to data centre investment has been necessitated by Kenya’s growing digital economy, urbanisation and expanding infrastructure.

For instance, data centres are benefiting from rising demand for cloud computing and artificial intelligence infrastructure, while logistics assets continue to gain momentum on the back of ecommerce growth and regional trade, the property manager stated.

July 14, 2026
PCEA Mai A Ihii Booth High School closed after principal’s arrest

PCEA Mai a Ihii Booth High School in Kikuyu, Kiambu County, has been closed indefinitely as authorities investigate allegations of sexual abuse involving the school’s principal.

Kikuyu Sub-County Director of Education Jeremiah Kipaiyu said the decision was made after an assessment established that the institution could not continue operating safely following the loss of its key administrators.

“We established that the school is facing significant safety challenges due to the absence of essential members of the administration,” Kipaiyu said.

He explained that without the school’s leadership, effective supervision of learners, maintenance of discipline and the day-to-day management of the institution had been disrupted.

“At this point, the school may not be in a position to effectively handle emergencies or other risks. The Ministry will facilitate the deployment of new administrators and put in place the necessary measures before learning resumes,” he added.

The closure follows the arrest of the principal on Monday after parents reported allegations that he had sexually abused several learners.

The principal by the name Timothy Chege has since been arraigned and charged with committing an indecent act against a child.

According to investigators, the allegations emerged after some students disclosed to their parents that they had allegedly been inappropriately touched inside the principal’s office.

Police say investigations are ongoing and believe additional victims could come forward as detectives continue gathering information.

Kikuyu Sub-County Police Commander Joseph Ndegwa said the chairperson of the school’s Board of Management was also arrested after detectives established that he had allegedly interfered with investigations.

“He was attempting to obstruct investigations, forcing us to take legal action. Our investigations show the alleged incidents had been taking place for some time before they came to light,” Ndegwa said.

He added that investigations had so far linked the principal to allegations of inappropriate touching of male students.

The Board chairperson was later charged with obstruction of justice after allegedly trying to resolve the matter outside the legal process.

Meanwhile, detectives continue to interview students, teachers and other witnesses to determine the full extent of the case. The police commander said the court will decide whether to grant the principal bail after considering the progress of investigations and the possibility of interference with witnesses or other evidence.

July 14, 2026
Kenya extends 8pc VAT on fuel by three months until October

The government has issued a three month extension on 8pc Value Added Tax on petrol and diesel until October 14, 2026 ahead of fuel price review expected later on Tuesday.

In a statement, Energy and Petroleum Cabinet Secretary Opiyo Wandayi said the extension which has been done in consultation with the National Treasury is part of interventions taken by the government to provide confidence that the country can maintain a reliable and uninterrupted fuel supply amid heightened volatility in the global markets.

“These interventions reflect our broader commitment to protecting consumers, supporting businesses and safeguarding the economy from external shocks while ensuring that petroleum products remain as affordable as possible under prevailing global market conditions,” said Wandayi.

In the July-August pricing cycle, the government will also draw Ksh 945 million from the Petroleum Development Levy Fund to subsidize prices which will be published by the Energy and Petroleum Regulatory Authority (EPRA).

Despite the resumption of the war between Iran and the United States leading to disruptions in the Strait of Hormuz, Wandayi has also maintained the the country has sufficient fuel stock and uninterrupted supply of the commodity under the Government-to-Government arragement.

“I therefore wish to reassure motorists, public transport operators, manufacturers, farmers, businesses, investors and all consumers that there is adequate fuel across the country and that the Government remains steadfast in ensuring that that particular situation continues to obtain for the long haul,” he added.

In a bid to cushion consumers from further fuel price hikes, Treasury announced VAT cut on petrol and diesel in April this year from 16pc to 8pc.

July 14, 2026
Digital loans hit Ksh 150B as 25 more lenders secure licenses

The Central Bank of Kenya (CBK) has licensed 25 additional digital credit providers giving them clearance to offer digital loans to consumers in Kenya.

According to the regulator, this now brings total number of licensed digital credit providers in the country to 252 since the new law came into operation.

In a statement, CBK said it has also received at least 800 applications since March 2022 and has worked closely with
the applicants in reviewing their applications.

“The focus of the engagements with DCPs has been inter alia on business models, consumer protection and fitness and propriety of proposed shareholders, directors, and management. This is to ensure adherence to the relevant laws and importantly that the interests of customers are safeguarded,” said CBK.

Latest data by the bank shows that DCPs have issued 8.37 million digital loans valued at Ksh 150.5 billion as of May 2026.

The loan products include education loans, development loans, short-term personal loans, asset-financing and business loans.

Among licensed DCPs include Abito Limited, Abepot Credit Limited, Avenews Ke Ltd, Baecot Credit Ltd and Baraka Credit Limited.

July 14, 2026