- APRIL 5 – Thursday was a “terrible” and “devastating” day for people involved in Lesotho’s textile sector as they digested the news that the country’s exports to the US would be hit by a 50% import tax, or tariff. Teboho Kobeli, who founded Afri-Expo Textiles and employs 2,000 people in the country…
- NAIROBI, Kenya, Apr 5 – The government has launched a comprehensive industry mapping and geo-location exercise in Nairobi in a bid to accelerate the country’s manufacturing growth and economic development. Presiding over the launch, Industrialization Secretary Erastus Gatebe said the initiative is…
- NAIROBI, Kenya, Apr 5 – More than 1,000 dormant administrative units in Kenya that exist in law but have never been operational are set to be revived under new reforms unveiled by Cabinet Secretary for Interior and National Administration Kipchumba Murkomen. The reforms seek to activate 24 sub-…
- LOS ANGELES, April 5 (Xinhua) — Tariffs could lead to a 10 percent drop in cargo volume moving through the Port of Los Angeles later this year, the U.S. largest port’s Executive Director Gene Seroka warned Friday. “We need lumber from Canada; appliances from Mexico; aluminum, steel, copper and…
- NAIROBI, Kenya, Apr 5 – The Central Bank of Kenya (CBK) has unveiled the Kenya Green Finance Taxonomy (KGFT) and Climate Risk Disclosure Framework, key tools aimed at fostering a sustainable and climate-resilient banking sector. The new measures build on CBK’s 2021 guidance on climate-related risk…
- By Dr. Richarlls Martins and Mr. Rajat Khosla APRIL 5 – As global leaders prepare to convene for the Commission on Population and Development (CPD) in New York on 7 – 11 April 2025, the world finds itself at a critical crossroads. We can either recommit to human dignity, equality, and justice—or…
- KITUI, Kenya, April 4 – Sidian Bank Kenya Limited has relocated its Kitui branch to a more strategic and customer-centric location in the heart of Kitui town, as part of its bold expansion strategy. The new branch, situated at Telyndo Building on Biashara Street, replaces the former location at…
- By Amos Mzenge APRIL 4 – Most people are conversant with the 50-30-20 rule on money, and its variations, as regards expenditure and savings. Whilst financial success can somewhat be attributed to saving every possible penny, building a hefty savings kitty should not take over one’s life to the…
- ANKARA, April 4 (Xinhua) — Türkiye’s annual inflation rate decreased for the 10th consecutive month in March, easing to 38.1 percent down from February’s 39.1 percent, the lowest level since December 2021, official data showed on Thursday. According to the data, the consumer price index (CPI)…
- NAIROBI, Kenya, April 4 – The Government has announced a 50 percent duty waiver on imported yellow maize amid rising prices caused by competition between animal feed millers and maize millers for white maize. The waiver, which will apply to 5.5 million bags of yellow maize for one year, will only…
- APRIL 4 – China has just said it will add a 34% tariff on US goods starting from 10 April. Its finance ministry says the US tariffs on Chinese products are “not in line with international trade rules”. US President Donald Trump has announced 54% tariffs on China, which include previous duties…
- NAIROBI, Kenya, April 4 – The U.S. has raised concerns over corruption in Kenya’s tender procurement processes, citing lack of transparency and fairness. According to the 2025 National Trade Estimate Report, public tenders are often influenced by graft, locking out U.S. firms from government…
- CAIRO, April 4 (Xinhua) — Egypt received a 1.2-billion-U.S.-dollar loan tranche from the International Monetary Fund (IMF) on Thursday, the government said, following the fund’s approval of the fourth review of the country’s economic reform program. “The tranche due for the IMF fourth review,…
- NAIROBI, Kenya, Apr 4 – The United Nations Deposit-Taking Savings and Credit Cooperative Society Ltd. (UN Sacco) has announced plans to conduct a forensic audit following mounting concerns over the alleged embezzlement of funds by its members. The decision comes in response to growing pressure from…
- By Eugine Mutekhele, APRIL 4 – For years, the role of the Chief Financial Officer (CFO) was defined by discipline, precision, and stewardship. Ensuring financial compliance, managing risk, and preserving shareholder value were the defining pillars. But as business models evolve and markets demand…
- NAIROBI, Kenya, April 4 – The New Cities Summit 2025, set for June 12-13 in Nairobi, will feature the Cities Catapult pitch competition, connecting urban innovators with investors and policymakers. Hosted by the Charter Cities Institute (CCI) and the Africa Infrastructure Development Association (…
- NAIROBI, Kenya, April 4 – The Kenya Private Sector Alliance (KEPSA) and the Kenya Investment Authority (KenInvest) have signed a Cooperation Agreement to enhance investment and economic growth in Kenya. The partnership, formalized by KEPSA CEO Carole Kariuki and KenInvest CEO John Mwendwa, aims to…
- VIENNA, April 4 (Xinhua) — The Organization of the Petroleum Exporting Countries (OPEC) and its allies, collectively known as OPEC+, announced on Thursday that they will increase oil output by 411,000 barrels per day (bpd) in May, exceeding expectations. According to a statement on the OPEC website…
- NAIROBI, Kenya, April 4 – Kenya will host the CorpsAfrica All-Country Conference (ACC 2025) this June, bringing together over 1,000 young Africans at the Kenya School of Government in Nairobi. Organized by CorpsAfrica, the event aims to harness Africa’s youthful population for community-led…
- NAIROBI, April 4 (Xinhua) — Governments and industry partners must step up financing for sustainable development to cushion vulnerable communities from poverty, climate crisis, hunger and resource-based conflicts, officials told a forum held in the Kenyan capital of Nairobi on Thursday. Kenya is…
- April 4 – A potential trade agreement between India and the United States could impact key sectors such as agriculture, automobiles, and pharmaceuticals, according to a report by Jefferies. These sectors are politically and economically sensitive for India due to high tariff rates, with the report…
- BRUSSELS, April 3 (Xinhua) — European leaders on Thursday launched a wave of criticism against U.S. President Donald Trump’s sweeping tariff increases, warning of global economic fallout, rising inflation, and a resurgence of protectionism. As calls for unity mounted across the bloc, the European…
- NAIROBI, Kenya, Apr 3 – Jubilee Holdings Limited (JHL) has announced a record profit before tax (PBT) of Sh6.2 billion for the financial year ended December 2024, marking the first time the company has surpassed the Sh6 billion mark. The insurer’s gross written premiums (GWP) surged 34 percent to…
- NAIROBI, Kenya, Apr 3 – Kenya’s exports to the United States face a fresh challenge following a tariff shift by the U.S., a move that could further widen Kenya’s trade imbalance, currently at Sh1.7 trillion (12 percent of GDP). The Kenya National Chamber of Commerce and Industry (KNCCI) has raised…
- NAIROBI, Kenya, Apr 3 – The heads of Kenya’s key competition authorities have reaffirmed their commitment to regional collaboration on competition regulation and consumer protection during the 73rd Antitrust Law Spring Meeting in Washington, D.C. Willard Mwemba, CEO of the Competition and Consumer…
- APRIL 3 – Stock markets in London, Paris and Berlin fell as trading began on Thursday after US President Donald Trump’s sweeping announcements on tariffs. The UK’s FTSE 100 share index was down 1% while France’s Cac 40 fell 1.7%. Earlier Asian markets had slid, while the price of gold, which is…
- NAIROBI, Kenya, April 3 – Amica Saving & Credit last year secured a loan facility of Sh300 million from the Kenya Development Corporation (KDC) under the SAFER project for lending to micro, small, and medium enterprises. But there’s still a huge financing gap, with many smallholder firms…
- NAIROBI, Kenya, Apr 3 – Moi University has announced plans to declare redundancies, citing a sharp decline in student enrollment that has strained its financial position. In a notice addressed to the University Academic Staff Union (UASU), the institution’s Acting Vice-Chancellor, Prof. Kiplagat…
- NAIROBI, Kenya, Mar 27 – DIB Bank Kenya (DIBBK), a subsidiary of Dubai Islamic Bank PJSC, has reported a net profit of Sh103.4 million for the year ending December 31, 2024, a turnaround from a Sh256 million loss in 2023. The bank attributed this growth to increasing customer confidence in Shariah-…
- NAIROBI, Kenya, Mar 27 – Acorn Investment Management Limited (AIML) reported a Sh1.4 billion net profit for 2024 across its Acorn Student Accommodation Development REIT (ASA D-REIT) and Income REIT (ASA I-REIT), nearly 200 percent growth from Sh467 million in 2023. The strong performance was driven…
- NAIROBI, Kenya, Mar 27 – Equity Group has posted a profit after tax growth of 12 percent to Sh48.8 billion for the full year ending December 31, 2024, boosted by gains earned from regional subsidiaries as well as business diversification. The Kenyan unit contributed 46 percent to the Group’s total…
- MAR 27 – British Steel is launching a consultation that could see the closure of its two blast furnaces at Scunthorpe, putting between 2,000 and 2,700 jobs at risk. The company said the blast furnaces were “no longer financially sustainable” due to tough market conditions, the imposition of tariffs…
- NAIROBI, Kenya Mar 27 – Various travel agency stakeholders have been challenged to embrace greater collaboration including Public-Private Partnerships (PPP) to strengthen Kenya’s travel payment ecosystem particularly in the digital payment space. Speaking during the Kenya Travel Industry Payment…
- By Mercy Mwelu MAR 27 – Kenyan women are increasingly taking charge of their financial destinies. The shift from informal savings to structured investments signals a new era of financial independence and economic empowerment. While the road ahead still has obstacles, the trajectory is clear. Women…
- NAIROBI, Kenya, Mar 27 – Kenya’s healthcare sector has receive a boost after the government secured a Sh1.8 billion grant from China to upgrade key hospitals nationwide. Treasury Cabinet Secretary John Mbadi and the Ambassador of the People’s Republic of China to Kenya, Guo Haiyan, signed the deal…
- TOKYO, March 27 (Xinhua) — Japan’s automobile production will decrease by 4.3 percent annually over declining U.S. sales while overall industrial production could drop by 0.6 percent due to the U.S. expanded tariffs, the Japan Research Institute predicted. Shumpei Goto, a researcher at the…
- NAIROBI, Kenya, Mar 27 – Vivo Energy Kenya Limited and TotalEnergies are among the top Kenyan oil marketers who have lost their market shares in the latest Energy & Petroleum Regulatory Authority (EPRA) industry data. EPRA’s Energy & Petroleum Statistics Report shows that Vivo, which owns…
- NAIROBI, Kenya, Mar 27 – Smallholder farmers in Nyandarua, Meru, and Kisii have received a boost after the Micro Small Enterprise Authority (MSEA), the Kenya Development Corporation (KDC), and the House of Procurement entered into a deal to enhance cold storage facilities. The improved chilling…
- BY Fred Waswa MAR 27 – In Kenya, the retirement saving landscape presents some worrisome statistics: only 20% of the population is actively saving for retirement, with a staggering 80% having no form of safety net to tap into during retirement. That notwithstanding, the 20% are not saving enough.…
- MAR 27 – US President Donald Trump says he may cut tariffs on China to help seal a deal for short video app TikTok to be sold by its owner ByteDance. Trump also said he is willing to extend a 5 April deadline for a non-Chinese buyer of the platform to be found. In January, […]
- NAIROBI, Kenya, Mar 27 – Indian media conglomerate Zee Entertainment Africa has introduced Zee Dunia, the first Free-to-Air (FTA) television channel in Africa, uplifting the region’s entertainment industry. The move makes Zee Entertainment the first multinational media conglomerate to introduce an…
- NAIROBI, Kenya, Mar 27 – The East African Development Bank (EADB) has refuted allegations regarding its lending operations, which were made by former Cabinet Secretary Raphael Tuju during a March 24 interview. In a statement issued on Thursday, EADB maintained that its financial operations adhere…
- WASHINGTON, March 27 (Xinhua) — U.S. President Donald Trump on Wednesday announced plans to impose 25 percent auto tariffs — on top of previous duties — on April 2. “What we’re going to be doing is a 25 percent tariff for all cars that are not made in the United States,” Trump said in the […]
- NAIROBI, March 27 (Xinhua) — Kenya plans to reduce its dependence on external creditors in a new debt strategy, a senior official said on Wednesday. John Mbadi, cabinet secretary for the national treasury and economic planning, told journalists in the Kenyan capital of Nairobi that the country aims…
- NAIROBI, March 27 (Xinhua) — Revenue generated by Kenya’s Standard Gauge Railway (SGR) passenger train increased by 41 percent in 2024, the Kenya Railways Corporation (KRC) said in a report on Wednesday. The train generated 4.09 billion Kenyan shillings (about 31.6 million U.S. dollars) during the…
- NAIROBI, Kenya, Mar 27 – Digital lender, Jijenge Credit limited has backed calls for a common base lending rate being spearheaded by commercial banks, saying the move will offer predictability and flexibility to borrowers and lenders alike. “It is imperative to construct a scientific and objective…
- NAIROBI, Kenya, Mar 25 — The Mauritius Commercial Bank (MCB) has appointed seasoned banker Felix Gichaga as its new Chief Representative Officer in East Africa. Announcing the appointment, the lender noted that Felix brings extensive knowledge of the banking sector across the African continent,…
- NAIROBI, Kenya, Mar 26 – Liberty Kenya Holdings has announced a 108.5 percent rise in profit after tax, reaching Sh1.402 billion, up from Sh672 million in 2023 for the financial year ending December 31, 2024. The company attributes the growth to strong investment gains, increased insurance earnings…
- LONDON, March 26 (Xinhua) — Britain’s Consumer Prices Index (CPI) rose 2.8 percent year on year in February, down from 3 percent in January, data from the Office for National Statistics (ONS) showed on Wednesday. “Inflation eased in February. Clothing prices, particularly for women’s clothes, was…
- MAR 26 – India and the US have begun bilateral trade negotiations that will continue until Saturday in Delhi. A US delegation, led by Assistant Trade Representative for South and Central Asia Brendan Lynch, arrived in the city on Tuesday for the talks. “This visit reflects the United States’…
