- By Pieter Prickaerts NAIROBI, Kenya, May 20 – One of the concerns in the health insurance industry is the increase in claims frequency in recent years, consequently leading to additional increases in costs. The increase in claims has intensified the burden of claims processing, hence impacting…
- NAIROBI, Kenya, May 20 – The Government says the Kenyan economy has recorded a significant bounce back after it reported a GDP growth rate of 5.6 percent in 2023, up from a revised 4.9 percent. A newly released 2024 Economic Survey Report shows the growth was primarily driven by a 19 percent…
- NAIROBI, Kenya, May 20 – Effective governance and financial control provide an apt opportunity for businesses to identify distress, the latest Deloitte Restructuring Survey has revealed. The survey themed ‘Early Identification of Distress’ stresses that timely identification allows businesses to…
- VIENTIANE, May 20 (Xinhua) — Smoking-related illnesses kill 6,700 people annually in Laos, according to Laos’ Ministry of Health. “About 18 people in Laos die each day from smoking-related illnesses, equal to 6,700 people a year. The death rate from smoking amounts to 15 percent of all deaths…
- NAIROBI, Kenya, My 20 – Kenya and the United States of America (USA) have agreed to complete ongoing trade negotiations under the Strategic Trade and Investment Partnership (STIP). This was said during the fifth round of STIP negotiations between USA Trade Representative Katherine Tai and Kenya’s …
- MAY 20 – China will have no choice but to take retaliatory measures against the European Union if the bloc continues its anti-subsidy investigations targeting Chinese companies, the Chinese Chamber of Commerce to the EU says. The CCCEU, which represents thousands of Chinese companies in the bloc,…
- NAIROBI, Kenya, May 20 – Mi Vida Homes, a property developer, targets growing home sales through sacco members. Already, the firm has partnered with Kimisitu Sacco, allowing its members to invest in its residential projects within Garden City, Nairobi. Sited on 47-acre land with a mixed-use urban…
- NAIROBI, Kenya, May 20 – FaidiHR, a cloud Payroll and Human Resource (HR) Platform Provider, has launched its flagship mobile application designed to empower employees and enhance their payroll and HR experience. The app, dubbed “FaidiHR App,” is aimed at streamlining HR processes and delivering…
- ABUJA, May 20 (Xinhua) — Nigerian President Bola Tinubu on Sunday has appointed Ajuri Ngelale, his main spokesman, as Nigeria’s first-ever special presidential envoy on climate action. The appointment reinforces the stance of Tinubu’s government on climate action and green economy solutions. In an…
- NAIROBI, Kenya, May 20 – Those working as information, communication, and technology (ICT) professionals will now be required to get a license to operate if the proposed ICT Authority Bill 2024 is enacted into law. The legislative proposal by the Cabinet Secretary, Ministry of ICT and Digital…
- MAY 21 – Solar panels are among the Chinese products causing tensions with Washington and Brussels China has launched an anti-dumping probe into imports of a widely used plastic from the US, EU, Taiwan and Japan. The announcement from the Ministry of Commerce that Imports of polyoxymethylene…
- NAIROBI, Kenya, May 20 – Marsabit County Governor Mohamud Ali has been ordered to provide information and records on a 300 megawatt (MW) wind farm project by the China Water and Electricity Company within 7 days. This follows an application request dated April 20, 2023, made by James Gitau,…
- COLOMBO, May 19 (Xinhua) — Sri Lankan President Ranil Wickremesinghe met with founder and CEO of SpaceX Elon Musk in Indonesia during the 10th World Water Forum on Sunday, Sri Lankan President’s Media Division (PMD) said in a statement. Wickremesinghe discussed the implementation of Starlink in Sri…
- NAIROBI, Kenya, May 19 – Max Schiff has been appointed as the new Chief Executive Officer of Lake Turkana Wind Power (LTWP). Schiff will oversee management responsibility for Kenya and Africa’s largest wind power plant following the exit of Phylip Leferink, who served for two years during his…
- MAY 19 – Buoyant electric car sales are a must if we’re to hit our climate targets. But EV sales in the West are down and if governments want them to recover it may have to be at the expense of their own economies. The numbers Any motorway driver will know the feeling: you’re cruising […]
- NAIROBI, May 16 (Xinhua) — As the Chinese market is a competitive one with a promising future, it will always be a pillar of our global business, a senior executive of Kenya’s national carrier Kenya Airways (KQ) has said. “We see a good fiscal year ahead since China’s aviation performance is robust…
- NAIROBI, Kenya, May 19 – Online retailer Copia Kenya has announced plans to lay off 1,060 employees due to financial constraints. The decision comes as the company battles ongoing financial challenges, despite efforts to secure additional funding and navigate the obstacles it faces. “In light of…
- MAY 19 – The men of the Yumuri sugar co-operative in Cuba have worked the cane fields around the city of Cienfuegos since they were old enough to wield a machete. Cutting cane is all Miguel Guzmán has ever known. He comes from a family of farm hands and started the tough, thankless work as […]
- MAY 19 – Boeing shareholders have signed off on the plane-maker’s plan to grant outgoing boss Dave Calhoun a 2023 pay package worth nearly $33m (£25m). A majority voted in favour of the plan, which had drawn criticism as the company grapples with a crisis sparked by the mid-air blowout of a panel…
- WASHINGTON, USA, May 18 – The Joe Biden administration’s doubling of the import tax on Chinese solar cells to 50 percent on Tuesday has been opposed by some US contractors. The White House said the increase “will protect against China’s policy-driven overcapacity that depresses prices and inhibits…
- NAIROBI, Kenya, May 18 – National Assembly Speaker Moses Wetang’ula has asked MPs to allow Kenyans to read and understand the proposed Finance Bill, 2024, on their own. Wetang’ula said that the law allows ordinary people to read and understand the Bill that is intended to guide revenue collection…
- ROME, May 17 (Xinhua) — Prices in Italy rose last month less than any of the European Union’s (EU) large economies, data released Friday by Eurostat showed. Eurostat, the EU’s statistics agency, said prices rose in Italy by just 0.9 percent in April compared to a year prior. The equivalent rate for…
- NAIROBI, Kenya, May 18 – M-KOPA has been named Africa’s fastest growing company in 2024 for the third time in a row in the Financial Times (FT). The company appeared on the FT list for providing affordable financing for smartphones, electric motorbikes, and digital financial services such as…
- NAIROBI, Kenya, May 17 – Experts have said that technology and technical skills are vital in combating the pressing issue of climate change by mitigating greenhouse gas emissions and building a more sustainable future. Head of UNESCO-UNEVOC’s International Center for Technical and Vocational…
- MAY 17 – Chinese authorities have unveiled their most significant steps yet to address the crisis that has been dragging on the country’s property sector in recent years. The new measures include cutting the amount home buyers need for a deposit and encouraging local authorities to purchase unsold…
- NAIROBI, Kenya, May 17 – Tax advisory firm Ernst & Young (EY) has raised concerns about the potential negative impacts of the proposed amendments to the VAT Act, 2013, particularly regarding the insurance sector. The proposal aims to limit VAT exemptions to insurance and reinsurance premiums,…
- NAIROBI, Kenya, May 17 – Investment, Trade, and Industrialization Cabinet Secretary Rebecca Miano has termed the De-Risking, Inclusion, and Value Enhancement of Pastoral Economies (DRIVE) initiative by the Kenya Development Corporation (KDC) a boost to Kenya’s pastoral economy. Speaking during the…
- LONDON, UK, May 17 – A new way of measurement proposed by researchers in Italy could see millions more middle-aged people finding themselves classed as obese. A study of 4,800 adults aged 40-80 led by the University of Tor Vergata in Rome focuses on body fat percentage, rather than the usually…
- NAIROBI, Kenya, May 17 – Kenyan bankers are against a proposal by the government to introduce a 16 percent VAT on financial transactions under the Finance Bill 2024. While VAT applies to payments for goods and services, the Kenya Bankers Association (KBA) says that bank charges are not a direct…
- NAIROBI, Kenya, May 17 – The Chairman of the National Assembly Finance Committee, Kuria Kimani, has said that the proposed 16 percent tax on bread was recommended by the National Treasury based on diabetes concerns. Speaking on Thursday in an interview with Citizen TV, Kimani also said that they…
- NAIROBI, Kenya, May 17 – Over 300 African entrepreneurs driving innovations have benefited from the Legatum Center for Development and Entrepreneurship at the Massachusetts Institute of Technology (MIT). While celebrating 15 years of advancing innovation and entrepreneurship, the center promised to…
- STOCKHOLM/BERLIN, May 17 (Xinhua) — German Chancellor Olaf Scholz and Swedish Prime Minister Ulf Kristersson have cautioned against tariffs on Chinese electric vehicles (EVs) following Washington’s announcement of hefty levies. Scholz and Kristersson expressed reservations about possible European…
- NAIROBI, Kenya, May 17 – The price of beachside properties along the Kenyan coast continues to grow, with some locations recording more than 400 percent, a new report by Knight Frank has revealed. According to Knight Frank’s indicative data, beachside residential homes exhibit a remarkable…
- NAIROBI, Kenya, May 17 – The price of beachside properties along the Kenyan coast continues to grow, with some locations recording more than 400 percent, a new report by Knight Frank has revealed. According to Knight Frank’s indicative data, beachside residential homes exhibit a remarkable…
- NAIROBI, Kenya May 17 – Details have shown how Statehouse intends to expend Sh1.5 billion in the financial year 2024/2025 for the construction and renovations of state house and lodges which commenced in 2015. Documents tabled before the National Assembly committee on Administration and Internal…
- UNITED NATIONS, May 16 (Xinhua) — UN Secretary-General Antonio Guterres welcomes the decision of the International Monetary Fund (IMF) on Wednesday to allow members to re-channel their reserve assets to multilateral development banks (MDBs) through the purchase of hybrid capital instruments, his…
- HOUSTON, May 16 (Xinhua) — Up to42,000 gallons of oil may have spilled into the Gulf of Mexico after a bunker barge struck a bridge in the island city of Galveston, eastern Texas, the U.S. Coast Guard estimated on Thursday. The source of the leakage from the barge has been contained after the…
- NAIROBI, May 16 (Xinhua) — Kenya and Uganda on Thursday signed a number of agreements to enhance bilateral cooperation. One of the agreements allows Uganda to import and transit refined petroleum products through Kenya from producer jurisdictions, resolving challenges faced by Uganda’s petroleum…
- SINGAPORE, May 16 (Xinhua) — Singapore Airlines transported 2.1 million passengers last month, up 20.3 percent year-on-year, according to the latest operating statistics. The low-cost airline Scoot within the same group recorded 1.06 million passengers in April, a year-on-year growth of 13.2…
- NAIROBI, Kenya, May 16 – Tax and exchange control experts have called on the government to employ innovative revenue generation strategies as it seeks to settle the ballooning debt to avoid overburdening Kenyans and driving away investors. While singling out the recent proposal by President William…
- NAIROBI, Kenya, May 16 – Accounting firm KPMG has faulted proposals to increase excise duty on crucial services such as telephone and internet data services, as well as fees associated with money transfer services, in the Finance Bill 2024. The audit company agrees that the tax proposals put forth…
- NAIROBI, Kenya, May 16 – Retailer Jaza has opened its 10th branch at the Imara Daima Estate in Nairobi as it seeks to expand its presence across the city. Located along Cosmas Ndeti Road, the new facility dubbed ‘JAZA IMARA’ covers 2,200 square feet and sells different products. In a span of six…
- ABUJA, May 16 (Xinhua) — Nigerian President Bola Tinubu has inaugurated three pivotal gas projects in an ambitious move to support the most populous African nation’s energy sector and promote industrial growth. The simultaneous inauguration of the expanded AHL Gas Processing Plant, the ANOH Gas…
- NAIROBI, Kenya, May 16 – Safaricom has restored its Internet services to full network capacity and stability following last Sunday’s undersea fibre cable cut that affected and disrupted the services. In a statement, the telco said that it resolved the problem by acquiring additional capacity from…
- NAIROBI, Kenya, May 16 – Huawei Cloud has entered into an agreement with Kenyan media houses to accelerate media intelligence. The MoU was signed at the at the Spark Discovery Kenya Media & Entertainment Summit in Nairobi and was signed with Mango TV, Royal Media Services, and the Standard…
- NAIROBI, Kenya, May 16 – Nigeria’s Minister of Housing and Urban Development, Ahmed Musa Dangiwa, wants Shelter Afrique Development Bank (ShafDB) and UN-Habitat to collaborate to tackle the housing crisis in Africa. Dangiwa, who doubles as the Chair of the Executive Board of UN Habitat and the…
- NAIROBI, Kenya, May 16 – 18 entrepreneurs have graduated from the NCBA and Strathmore University Business School Enterprise Development Programme. The 16-week programme, which focused on most sectors of the economy, is designed to equip SMEs with the tools and skills to identify and seize business…
- NAIROBI, Kenya, May 16 – Human resources and payment management software Seamless HR has said that the adoption of technologies such as AI is crucial to streamlining operations in organizations. It gave an example of the banking sector as one of the sectors that needs the integration of AI for…
- GERMANY, May 16 – Germany is considering tax incentives and changes to its social welfare system in a bid to boost workforce participation, aligning the nation with the United Kingdom and the Netherlands in addressing the economic challenges posed by a decline in average working hours. The ruling…
- NAIROBI, Kenya, May 16 – The Co-operative Bank of Kenya profit after tax grew by 7.7 percent to Sh6.58 billion in the first quarter of 2024 compared to a similar period last year, buoyed by increased net interest incomes. The lender made Sh6.11 billion in profit after tax in the first quarter of…
