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Maribe to spend 10 more days in cell – VIDEO

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Citizen TV Journalist Jacque Maribe, a suspect in the murder of businesswoman Monica Kimani in Nairobi, will stay in police cells longer, a Kiambu magistrate court has ruled.

Kiambu Principal Magistrate Justus Kituku on Monday allowed police to hold Ms Maribe for 10 more days at Gigiri Police Station in the capital Nairobi as they investigate the case.

Detectives brought Ms Maribe to court at 8.30am and locked her up at the cells as she waited for her date with destiny.

She was taken to court a few minutes after 9am, with the state prosecution making an application to extend her lock-up as they investigate the murder that has also seen the detention of her fiancé Joseph Kuria Irungu.

The prosecutors had asked Mr Kituku to allow police to detain the celebrated new anchor for another 14 days, saying the charges she was facing were serious.

They cited ballistic examination of the samples that they took from the suspect’s house and a pending DNA test among other reasons to back up their request.

If set free, they told the magistrate, Ms Maribe is likely to interfere with the ongoing investigations.

Jackie Maribe

Citizen TV Journalist Jacque Maribe is brought to Kiambu Law Courts on October 1, 2018. PHOTO | ERIC WAINAINA | NATION MEDIA GROUP

But her lawyer Katwa Kigen, who lost the battle for the news anchor’s temporary freedom, had opposed the request, saying the time requested for was unreasonable.

The reasons given by the prosecution, Mr Kigen said, were not compelling.

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Mr Kigen also decried the conditions under which Ms Maribe was held over the weekend, saying she was intimidated and mocked by fellow inmates.

If the court decides to detain the journalist for more days, he said, the magistrate should ensure her rights as a suspect are not violated.

In his ruling, the magistrate granted Mr Kigen’s request and directed that police guarantee Ms Maribe of her safety and security in cell.

jackie maribe

Ms Maribe with her lawyer Katwa Kigen appear before Kiambu Principal Magistrate Justus Kituku. PHOTO | ERIC WAINAINA | NATION MEDIA GROUP

He made a reference to a recent incident where a suspect in the attempted murder of a former Mandera county government official died while in police custody.

The court directed that Ms Maribe should not be forced to record any statement in the absence of her lawyer.

The news anchor, who broke the news of Ms Kimani’s death on TV, was arrested on Saturday, days after she was interrogated by detectives over case.

Her fiancé Irungu, the main suspect in the murder, was last week presented before Kiambu Senior Resident Magistrate Stella Atambo who allowed police to detain him for 10 more days as they investigate the case.

Jackie Maribe

Ms Maribe arrives for her court date on October 1, 2018. PHOTO | ERIC WAINAINA | NATION MEDIA GROUP

Ms Kimani’s body was found in a bathtub at her house in Kilimani, Nairobi, with the throat slit and hands tied at the back.

Mr Irungu, Ms Maribe, and their mutual friend Brian Kassaine, in whose house detectives found a gun hidden in the ceiling, are the suspects in police custody so far.

Mr Kassaine is also expected in court on Monday or Tuesday.

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World Bank pushes G-20 to extend debt relief to 2021

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World Bank Group President David Malpass has urged the Group of 20 rich countries to extend the time frame of the Debt Service Suspension Initiative(DSSI) through the end of 2021, calling it one of the key factors in strengthening global recovery.

“I urge you to extend the time frame of the DSSI through the end of 2021 and commit to giving the initiative as broad a scope as possible,” said Malpass.

He made these remarks at last week’s virtual G20 Finance Ministers and Central Bank Governors Meeting.

The World Bank Chief said the COVID-19 pandemic has triggered the deepest global recession in decades and what may turn out to be one of the most unequal in terms of impact.

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People in developing countries are particularly hard hit by capital outflows, declines in remittances, the collapse of informal labor markets, and social safety nets that are much less robust than in the advanced economies.

For the poorest countries, poverty is rising rapidly, median incomes are falling and growth is deeply negative.

Debt burdens, already unsustainable for many countries, are rising to crisis levels.

“The situation in developing countries is increasingly desperate. Time is short. We need to take action quickly on debt suspension, debt reduction, debt resolution mechanisms and debt transparency,” said Malpass.

ALSO READ:Global Economy Plunges into Worst Recession – World Bank

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Kenya’s Central Bank Drafts New Laws to Regulate Non-Bank Digital Loans

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The Central Bank of Kenya (CBK) will regulate interest rates charged on mobile loans by digital lending platforms if amendments on the Central bank of Kenya Act pass to law. The amendments will require digital lenders to seek approval from CBK before launching new products or changing interest rates on loans among other charges, just like commercial banks.

“The principal objective of this bill is to amend the Central bank of Kenya Act to regulate the conduct of providers of digital financial products and services,” reads a notice on the bill. “CBK will have an obligation of ensuring that there is fair and non-discriminatory marketplace access to credit.”

According to Business Daily, the legislation will also enable the Central Bank to monitor non-performing loans, capping the limit at not twice the amount of the defaulted loan while protecting consumers from predatory lending by digital loan platforms.

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Tighter Reins on Platforms for Mobile Loans

The legislation will boost efforts to protect customers, building upon a previous gazette notice that blocked lenders from blacklisting non-performing loans below Ksh 1000. The CBK also withdrew submissions of unregulated mobile loan platforms into Credit Reference Bureau. The withdrawal came after complaints of misuse over data in the Credit Information Sharing (CIS) System available for lenders.

Last year, Kenya had over 49 platforms providing mobile loans, taking advantage of regulation gaps to charge obscene rates as high as 150% a year. While most platforms allow borrowers to prepay within a month, creditors still pay the full amount plus interest.

Amendments in the CBK Act will help shield consumers from high-interest rates as well as offer transparency on terms of digital loans.

SEE ALSO: Central Bank Unveils Measures to Tame Unregulated Digital Lenders

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Scope Markets Kenya customers to have instant access to global financial markets

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NAIROBI, Kenya, Jul 20 – Clients trading through the Scope Markets Kenya trading platform will get instant access to global financial markets and wider investment options. 

This follows the launch of a new Scope Markets app, available on both the Google PlayStore and IOS Apple Store.

The Scope Markets app offers clients over 500 investment opportunities across global financial markets.

The Scope Markets app has a brand new user interface that is very user friendly, following feedback from customers.

The application offers real-time quotes; newsfeeds; research facilities, and a chat feature which enables a customer to make direct contact with the Customer Service Team during trading days (Monday to Friday).

The platform also offers an enhanced client interface including catering for those who trade at night.

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The client will get instant access to several asset classes in the global financial markets including; Single Stocks CFDs (US, UK, EU) such as Facebook, Amazon, Apple, Netflix and Google, BP, Carrefour;  Indices (Nasdaq, FTSE UK), Metals (Gold, Silver); Currencies (60+ Pairs), Commodities (Oil, Natural Gas).

The launch is part of Scope Markets Kenya strategy of enriching the customer experience while offering clients access to global trading opportunities.

Scope Markets Kenya CEO, Kevin Ng’ang’a observed, “the Sope Markets app is very easy to use especially when executing trades. Customers are at the heart of everything we do. We designed the Scope Markets app with the customer experience in mind as we seek to respond to feedback from our customers.”

He added that enhancing the client experience builds upon the robust trading platform, Meta Trader 5, unveiled in 2019, enabling Scope Markets Kenya to broaden the asset classes available on the trading platform.

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