Capital Business

  • - NAIROBI, Kenya, Dec 14 – Financial instability and economic hardships among Kenyan youth are driving a rise in gender-based violence (GBV) and femicide, according to UN Women.  The country has reported over 97 femicide cases since August, with data from the Kenya National Bureau of Statistics…
  • - RIYADH, Dec. 14 (Xinhua) — The 16th meeting of the Conference of the Parties (COP16) to the UN Convention to Combat Desertification (UNCCD) closed early Saturday, with 39 decisions, including a procedural decision on drought, being adopted. Several postponements marked the final day of the two-week…
  • - NAIROBI, Kenya, Dec 13 – The Energy and Petroleum Regulatory Authority (EPRA) has cut fuel prices, offering reprieve to motorists, households and firms. In its latest monthly fuel review, a liter of petrol will now cost Sh4.37 less, with kerosene and diesel also dropping by Sh3 each. “Petrol…
  • - COLOMBO, Dec. 14 (Xinhua) — The Maldives will implement a nationwide ban on the use and sale of vaping devices starting at midnight on Saturday, according to the nation’s state-run Public Service Media (PSM). The ban follows recent amendments to the Tobacco Control Act, signed into law by President…
  • - NAIROBI, Kenya, Dec 14 – The Kenya Bankers Association (KBA) has confirmed Raimond Molenje as the new Chief Executive Officer, effective December 1, 2024.  His appointment followed a competitive selection process. Molenje, who has been with KBA since 2018, boasts over 19 years of experience in…
  • - DEC 14 – The UK does not have enough construction workers to build the 1.5 million homes the government has promised, industry leaders have warned. Tens of thousands of new recruits are needed for bricklaying, groundworks and carpentry to get anywhere near the target, they told the BBC. The Home…
  • - NAIROBI, Dec. 13 (Xinhua) — Kenyan President William Ruto said on Friday that the government will spend 28 billion Kenyan shillings (about 216 million U.S. dollars) to modernize the National Police Service over the next two years. According to Ruto, the modernization program will include new…
  • - OTTAWA, Dec. 13 (Xinhua) — Canada will make a robust response if President-elect Donald Trump imposes steep tariffs on Canadian goods, Canadian Deputy Prime Minister and Finance Minister Chrystia Freeland said Friday. “In the event that the United States were to impose unjustified tariffs on Canada…
  • - NAIROBI, Kenya, Dec 13 – Kenya recorded a decline in suspected digital fraud rates during the 2024 Black Friday period, with cases falling from 12.6 percent in 2023 to 10.3 percent, according to a TransUnion analysis.   The report noted mixed trends across Africa, with Botswana’s fraud rate rising…
  • - NAIROBI, Kenya, Dec 13 – Safaricom Business has unveiled the 8th installment of its ‘Grow with Safaricom Business’ program, aimed at providing small and medium-sized enterprises (SMEs) with vital access to resources in technology, e-commerce, and knowledge sharing. The two-day expo, which brings…
  • - PARIS, Dec. 14 (Xinhua) — Credit ratings agency Moody’s has downgraded France’s credit rating to Aa3 with a stable outlook, reported media outlets on Saturday. “The decision to downgrade France’s ratings to Aa3 reflects our view that France’s public finances will be substantially weakened by the…
  • - NAIROBI, Dec. 14 (Xinhua) — The Kenyan government will provide a safe corridor for the migration of skilled labor force to travel and settle abroad, generating revenue for the exchequer through remittances, senior officials said Friday ahead of International Migrants Day that is observed annually…
  • - NAIROBI, Kenya, Dec 13 – The Ministry of Cooperatives has ordered the management and CEO of Barichu Coffee Cooperative Society in Mathira to step aside after failing to pay farmers millions of shillings. The ministry has also requested the Director of Criminal Investigations (DCI) and the Ethics…
  • - OTTAWA, Dec. 13 (Xinhua) — Ontario Premier Doug Ford reiterated Thursday that Ontario, Canada’s most populous province, could cut off electricity to the United States if President-elect Donald Trump imposes steep tariffs on Canadian goods. Ford called the move a last resort. “Let’s hope that never…
  • - TOKYO, Dec. 13 (Xinhua) — The Bank of Japan (BOJ) survey released Friday revealed mixed business sentiment among Japan’s large companies, with manufacturers showing signs of recovery and non-manufacturers facing notable challenges. The business index for large manufacturers improved for the first…
  • - NAIROBI, Kenya, Dec 13 – A city law firm has challenged the government decision to conduct a mass livestock vaccination program in January next year, stating that livestock farmers were not consulted. Through a letter addressed to the State Department of Livestock Development Principal Secretary,…
  • - Nyeri, Kenya, Dec 13 – Controversy has erupted in the coffee sector following a directive by the Ministry of Cooperatives requiring farmers to be paid directly for their produce, bypassing cooperative management boards. The directive mandates the Nairobi Coffee Exchange (NCE) to pay farmers…
  • - RIO DE JANEIRO, Dec. 12 (Xinhua) — Brazil, one of the world’s top food producers, expects its cereal, legume and oilseed production to increase by 7 percent to 314.8 million tons in 2025, the state-run Brazilian Institute of Geography and Statistics (IBGE) said Thursday. The yield of the kind this…
  • - NAIROBI, Kenya, Dec 13 – Households with children under the age of 15 have been found to have a higher rate of ICT gadget adoption, according to a report by the Kenya National Bureau of Statistics (KNBS) and the Communications Authority of Kenya. The survey, conducted between 2016 and 2022,…
  • - DEC 13 – Donald Trump stood on Wall Street on Thursday, a euphoric crowd of America’s business elite assembled before him, and hammered the bell to kick off morning stock market trading. The mood was celebratory. Not only had the president-elect just been named Time person of the year, but the…
  • - NAIROBI, Kenya, Dec 12 – Radio remains the leading source of family planning information in Kenya, far surpassing mobile messaging and internet platforms, a new report by the Kenya National Bureau of Statistics (KNBS) and the Communications Authority reveals.   The report shows 89.2 percent of…
  • - WASHINGTON, Dec. 13 (Xinhua) — The administration of U.S. President Joe Biden announced Thursday that it will send Ukraine another tranche of weapons worth 500 million U.S. dollars. According to a statement from the U.S. Department of Defense, the latest military assistance to Ukraine is the 72nd…
  • - NEW YORK, Dec. 12 (Xinhua) — Meta, the social media giant that owns Facebook and Instagram, donated 1 million U.S. dollars to President-elect Donald Trump’s inaugural fund, as “the company tries to mend fences ahead of a second administration that could oversee major social media regulations,”…
  • - DEC 13 – Techno Brain, a leading global provider of IT solutions, is proud to announce its achievement of the Great Place To Work® Certification for 2024. This recognition, awarded by Great Place To Work US—the global authority on workplace culture and leadership—highlights Techno Brain’s…
  • - TALLINN, Dec. 12 (Xinhua) — Estonia’s parliament passed a new public health law on Wednesday, making it illegal to provide tanning and tattoo services to minors. The law, which will take effect on Sept. 1, 2025, restricts solarium and tattoo services exclusively to adults aged 18 and over.…
  • - NAIROBI, Dec. 12 (Xinhua) — Kenya’s economy is stable and the government has laid a solid foundation for inclusive economic transformation, President William Ruto said on Thursday. Ruto made the remarks while celebrating Independence Day, marking 61 years since Kenya gained independence from…
  • - DEC 12 – Australia’s government says it will create new rules to force big tech companies to pay local publishers for news. The long-awaited decision sets out a successor to a world-first law that Australia passed in 2021, which was designed to make giants like Meta and Google pay for hosting news…
  • - NAIROBI, Kenya, Dec 12 – Improved electricity connectivity between 2016 and 2022 has driven a significant increase in ICT gadget ownership in Kenya, according to a report by the Kenya National Bureau of Statistics (KNBS) and the Communications Authority. The report reveals that 97.6 percent of…
  • - NAIROBI, Kenya, Dec 12 – Kenya’s burgeoning reputation as a hub for sustainable fashion was on full display at the SHIFT80 Design Prize 2024 Awards Ceremony in Nairobi. This groundbreaking event celebrated the intersection of creativity, culture, and environmental consciousness, showcasing the…
  • - LONDON, Dec 4, 2024 — The Mauritius Commercial Bank Ltd (MCB) has made history by becoming the first Mauritian bank to be named African Bank of the Year by The Banker Magazine, a publication of the Financial Times. The award was presented at the prestigious Bank of The Year Awards 2024 in London.…
  • - NAIROBI, Dec. 12 (Xinhua) — The Kenya Tourism Board (KTB), the country’s state-owned tourism marketing body, said Wednesday that it will leverage sports to increase visitor arrivals. Chief Executive Officer of the KTB June Chepkemei said Kenya is experiencing low visitor numbers for sports-related…
  • - DEC 12 – Elon Musk’s electric car firm Tesla pushed the government to make petrol car drivers “pay more” in the days after Labour won the general election. Musk, the chief executive of Tesla, has waded into British politics openly on social media, predicting “civil war” and criticising prime…
  • - NAIROBI, Kenya, Dec 12– Non-banking financial services firm Sanlam Kenya shareholders have approved a Sh3.25 billion rights issue. The rights issue, aimed at recapitalising the company’s balance sheet, will allow Sanlam Kenya to make an early repayment of a performing loan facility from Stanbic…
  • - Dec 12 – India is on the brink of a dramatic increase in billionaire entrepreneurs over the next decade, similar to the rapid growth seen in China up to 2020, according to a report by UBS. The report highlights key drivers for this momentum, including rapid urbanization, digitalization, expanding…
  • - SAN FRANCISCO, Dec. 12 (Xinhua) — Apple on Wednesday announced the release of iOS 18.2, iPadOS 18.2, and macOS Sequoia 15.2, introducing a set of new features to Apple Intelligence on iPhone, iPad, and Mac. The new features include image playground, Genmoji, writing tool enhancements, and ChatGPT…
  • - NAIROBI, Dec. 12 (Xinhua) — The International Monetary Fund (IMF) has called on Kenya to strengthen its fiscal framework and reduce debt vulnerabilities to improve the country’s resilience against economic and climate shocks. IMF Deputy Managing Director Nigel Clarke, who concluded a three-day…
  • - NAIROBI, Kenya, Dec 11- The director of fund management services at the National Government Affirmative Action Fund (NGAAF), Viridiana Wasike, has advocated for collaborative efforts from both government and non-state actors (NSA) in financing rescue centers. Speaking during the 2nd Annual Shelters…
  • - MOSCOW, Dec. 11 (Xinhua) — Russian law enforcement has dismantled three fraudulent local “call center” offices and detained several managers and employees, Russia’s Federal Security Service said in a statement Wednesday. The centers were part of an international crime network linked to fugitive…
  • - NAIROBI, Kenya, Dec 11 – Eastern Africa Power Pool (EAPP) member states have announced plans to launch a centralized Day Ahead Market (DAM) in 2025, aiming to provide affordable, reliable, and sustainable electricity to over 620 million people across the region.  The initiative, unveiled during a…
  • - NAIROBI, Kenya Dec 11 – President William Ruto has signed into law the Tax Laws (Amendment) Bill, 2024, proposed by National Assembly Majority Leader Kimani Ichung’wah. The tax laws bill was seeking to amend the provisions of four Acts of Parliament, including the Income Tax Act, the Value Added…
  • - NAIROBI, Kenya, Dec 11 – New data from global communications platform Infobip shows that WhatsApp, E-mail, and SMS are the top channels for customer-brand interactions during shopping events like Black Friday, driving over 1.6 billion interactions globally.   Infobip recorded 3.4 billion…
  • - DEC 11 – Business leaders have been challenged to get into parliament to help shape policies that foster long-term economic growth and sustainability in Kenya. Kevin Otiende, a businessman and entrepreneur, emphasized the significant role of businesses in Kenya’s economy, noting that they employ…
  • - MOGADISHU, Dec. 11 (Xinhua) — The International Monetary Fund (IMF) has approved the disbursement of 10 million U.S. dollars to Somalia to boost the country’s economic reforms. The latest funding brings Somalia’s total disbursement under the current program, which was originally approved in…
  • - NAIROBI, Kenya, Dec 10 — The Ministry of Public Service and Human Capital Development has announced an extension of the Civil Servants Medical Insurance Scheme until December 31, 2024, with new arrangements coming into effect from January 1, 2025. This move aims to ensure that government employees…
  • - WASHINGTON, Dec. 11 (Xinhua) — U.S. President Joe Biden on Tuesday called President-elect Donald Trump’s tariff approach “a major mistake.” “He seems determined to impose steep universal tariffs on all imported goods brought to this country on the mistaken belief that foreign countries will bear…
  • - NAIROBI, Kenya, Dec 11 – The Ethics and Anti-Corruption Commission (EACC) has, in the last two months, recovered stolen public property valued at Sh300 million in the lakeside city of Kisumu. EACC spokesperson Erick Ngumbi says the recovery of the illegally acquired property was done after a win in…
  • - MOSCOW, Dec. 11 (Xinhua) — The real boom in Russian Initial Public Offerings (IPOs) is still ahead, with the market expected to grow many times larger in the coming years, Anatoly Popov, Deputy Chairman of Russia’s largest bank Sberbank was quoted by local media Wednesday as saying. “2024 has been…
  • - DEC 11 – Coffee drinkers may soon see their morning treat get more expensive, as the price of coffee on international commodity markets has hit its highest level on record. On Tuesday, the price for Arabica beans, which account for most global production, topped $3.44 a pound (0.45kg), having…
  • - NAIROBI, Kenya, Dec 10 – The Kenya Airports Authority (KAA) has issued a tender for the development and management of a new Commercially Important Persons (CIP) Terminal at Jomo Kenyatta International Airport (JKIA). KAA in a notice said the move is aimed at enhancing VIP services at the country’s…
  • - NAIROBI, Kenya Dec 10 – Smallholder Hass Avocado farmers affiliated with listed agri-business firm Kakuzi PLC(NSE: KUKZ) are set to enjoy a bonus of more than Sh10 million from their produce exports this year. Speaking when he confirmed the smallholders and out-growers bonus payout for 2024, Kakuzi…