The Structure of the Interbank Market in Kenya

Abstract

This chapter discusses the evolution of the network structure of Kenya’s overnight market. It applies several measurements derived from network theory to uncover some key microstructure characteristics and the nature of the interbank market segmentation. An important issue is to understand what opportunities and challenges the structure of the interbank network presents for liquidity management and stability of the banking system. The results reveal a fragmented market, consisting of local clusters with hub-like and periphery banks. These features seem to become more prominent with time. Although the interbank structure is largely incomplete (density of about 0.25), each bank can be linked to all other banks in the network in no more than three steps. While this may imply that the core potentially provides an efficient shortcut for most peripheral banks for accessing liquidity in the network, the short-path length suggests that contagion can also spread with ease.

Nursing and midwifery education, regulation and workforce in Kenya: A scoping review

“…Nursing and midwifery are regulated professions in Kenya, and licensure is mandatory for all nurses/midwives (Riley et al., 2007). Regulation of these professions evolved with the country's political landscape, from the colonial era Nursing and Midwifery Council mandated by the ‘Nurses and Midwives Registration Ordinance’ of the Colonial Legislative Council in 1949 (Kenya Gazette, 1950; Ndirangu, 1982) to the current Nursing Council of Kenya (NCK) established by the 1983 Nurses Act (revised in 2012) (National Council of Law Reporting, 2012; Oywer et al., 2014). Although the NCK nomenclature excludes midwifery, the statutory body regulates professional development and accreditation for nursing and midwifery and maintains the nursing and midwifery workforce supply (McCarthy et al., 2017; Nursing Council of Kenya, 2020).…”

“…The demand for nurses and midwives increased during the colonial period, and British nursing staff established training programmes in mission hospitals and later in medical training centres in Nairobi and provincial general hospitals, with the first registered nurses being trained in 1952 (Diesfeld & Hecklau, 1978; Ndirangu, 1982). By 1964, there were 21 institutions training enrolled nurses, 16 training midwives, three training public health nurses and one training psychiatric nurses (Diesfeld & Hecklau, 1978).…”