Right through his childhood, Hillary Nzioki Mutyambai’s ambition to serve in the Roman Catholic Church was unconcealable.
Born in a Catholic family some 55 years ago and schooled in institutions sponsored by the church, his admiration for the faith was at fever-pitch.
Mr Mutyambai almost enrolled for seminary lessons but gave in to a spirited dissuasion by mentors, friends and relatives who convinced him to join the Kenya Police in 1991.
Coincidentally, he was at the time teaching biology, mathematics and physics at his former school — Pope Paul VI Junior Seminary School in Machakos.
For the man nominated by President Uhuru Kenyatta to be Kenya’s next Inspector General of Police, his love for the Catholic church remains intact.
“My life in the Catholic schools inculcated in me the spirit of humbling compassion. There are those who complain that I’m too passionate about humanity in my life. But that is me, you cannot change it because it is a core value that is inbuilt in my soul and which I play fidelity to with a passion,” he says.
Described by peers as “a man of few words and a discomforting incisive gaze” Mr Mutyambai says his nomination to succeed Joseph Boinnet surprised him.
“To be sincere I was not expecting that nomination. But it came and that is where we are now. If Parliament approves me next week I will assume office and prove my abilities,” he says.
His former boss at the National Intelligence Service (NIS) Wachira Kameru describes Mutyambai in his seconding brief to the President as “emotionally balanced, reliable, trusted, polite, approachable, firm and authoritative.”
Among others who approved him to the President is Michael L’Estrange who headed the National Security College in Australia.
His appointment comes at a time police officers are complaining of low morale owing to erratic house allowances, contentious promotions, fractious merger between regular and administration police officers as well as widely frowned upon colour of new uniform.
Further, his nomination comes when there are concerns about police discipline, especially corruption, extrajudicial killings and harassment of citizens.
“I’m not coming into this carrying any illusions that it will be a walk in the park… I know there are real issues in this job. But my work will be to play that enabling team leader for realisation of honest action plan to address our challenges. I’m not a stranger in our security sector because I have been in it all my working life, so far,” Mr Mutyambai says.
He says he brings in expertise to be the team leader to set up ethics and integrity standards in his new mandate, deploy effective diplomacy to enhance cohesion while spearheading sound management skills at all command levels of the police service.
“This will bring on board all officers to embrace the culture of collective responsibility and where seniority in rank will not be a weapon to ride roughshod on junior officers. It will be a culture where we all work together, not juniors working for the seniors,” he said.
He reveals that he has been instrumental in setting up key security administrative and operational systems that have posted tangible results in securing the country.
Coming from the position of deputy director of counter-terrorism, the nominee says he is home in the police service since he has been providing it with intelligence.
“I have also been collaborating with joint security operation teams, including the office of the public prosecutions in investigating and prosecuting terrorism cases,” he says.
A close adviser describes Mr Mutyambai as a highly rated professional in criminal investigations, with globally recognised strengths.
“He brings in a wealth of 28 years of investigative and law enforcement experiences. He is competent in staff profiling, training and supervision,” the adviser told Business Daily.
Junior police officers, the adviser said, will get an acknowledged mentor who supports others, demonstrating a lead-by-example approach while coordinating teams.
He is a University of Nairobi Bachelor of Science in Agriculture graduate who later pursued Master of Arts in National Security Policy at Australian National University.
He also holds leadership certificate in counter-terrorism from University of New Orleans in America.
World Bank pushes G-20 to extend debt relief to 2021
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.
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.
Kenya’s Central Bank Drafts New Laws to Regulate Non-Bank Digital Loans
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.
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.
Scope Markets Kenya customers to have instant access to global financial markets
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.
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.