The Legal Edge

Judicial independence is the concept in which the judiciary needs to be kept away from the other arms of government. The court should not be subject to government influence or any other influences that may be partisan or private.   The independence of the judiciary is established under Article 159 of the Constitution of Kenya. Independence of the judiciary is a core element of modern constitutionalism and a pillar of democracy. Hon Justice Augustus Molade Akiwumi was a judge and also the second speaker of the Parliament of Ghana. History of the Judiciary: Judiciary is an arm of government that comprises a system of courts of law for the administration of justice. The first court in British East Africa was established by the Imperial British East Africa Company in 1890 with A.C.W Jenner as its first judge. In 1895, the East Africa Protectorate was established with the Consular court to serve British  and other  foreign persons. However a court with jurisdiction over all pe...

  Cooperation in the EAC Common Market C o‐operation   is defined in Article 1 of the protocol for establishment of EAC to include  the undertaking by the Partner States in common, jointly or in concert, of activities undertaken in furtherance of the objectives of the Community, as provided for under the Treaty or under any contract or agreement made thereunder or in relation to  the objectives of the Community. Scope of Co-operation in the Common Market  is provided for in Article 5 where it states that the  Protocol shall apply to any activity undertaken in cooperation by the Partner States to achieve the free movement of goods, persons,  labour , services and capital and to ensure the enjoyment of the rights of establishment and residence of their  nationals within the Community. The Partner states agree  pursuant to paragraph 4 of Article 2 of this Protoco l; (a)  Eliminate  tariff, non‐tariff and technical barriers to trade ;...

  Treasury Bills and Treasury Bonds are both fixed-income securities, but they have some differences in how they work.   Similarities: Both are ways for the government to borrow money from the public. Investors receive fixed interest payments over a set period of time. Differences: Structure:Treasury Bills: Issued for short periods, typically 91 days, 182 days, or 364 days , to finance short-term expenses like salaries.Treasury Bonds: Issued for longer periods , usually years, to fund various government projects. Returns (Interest Rate):Treasury Bills: The longer the period (e.g., 364 days), the higher the returns.Treasury Bonds: Offer fixed interest payments every six months until maturity. Minimum Investment:Treasury Bills: Require a minimum investment of Ksh.100,000. Treasury Bonds: May have different minimum investment requirements; Opening a CDS account with the Central Bank is necessary. Treasury Bills are typically issued weekly, with details available on the Central Ba...

Questions and Answers :   1. What are Kenyan Treasury Bills?   Kenyan Treasury Bills (T-Bills) are short-term government securities issued by the Central Bank of Kenya on behalf of the National Treasury. They are typically issued with maturities of 91, 182, and 364 days and are used to help manage the country’s short-term funding needs. 2. How do Treasury Bills work?   Investors purchase T-Bills at a discounted price; they receive the face value upon maturity. The difference between the purchase price and the maturity value is the investor's return. 3. Who can invest in Treasury Bills? Both individual and institutional investors can invest in Kenyan T-Bills. This includes citizens, residents, and foreign investors. 4. What is the minimum investment for Treasury Bills? The minimum investment for Treasury Bills in Kenya is Ksh 100,000. 5. How are T-Bills issued? T-Bills are issued through an auction process held by the Central Bank of Kenya. Investors can place bids e...

    A Treasury bond, also known as a T-bond, is a government-issued security with a medium to long-term maturity. Typically, they pay interest every six months until the bond reaches maturity.In Kenya, Treasury bonds are issued on a monthly basis. T-Bills are sold at a discount to their face value and redeemed at face value upon maturity.For example, a Ksh.100,000 T-Bill might be sold for Ksh.90,000. At maturity, the investor receives the full Ksh.100,000.The return is subject to a 15% withholding tax. Auction Frequency:T-Bills are auctioned by the Central Bank of Kenya on a weekly basis.Purpose of Government Issuing T-Bills:The government issues T-Bills to raise funds for various projects, which is part of its domestic borrowing strategy.   In summary, while both Treasury Bills and Treasury Bonds offer fixed returns, they differ in terms of their structure, investment duration, and frequency of issuance. Treasury Bills are typically for short-term financing, while Treasu...