- NAIROBI, Kenya, Jun 28 – Diversified financial services firm Britam has announced its reinvestment of profits from the financial year ending December 31, 2023, to support its ambitious five-year business strategy. During its 28th Annual General Meeting (AGM), the Nairobi Securities Exchange (NSE)…
- NAIROBI, Kenya, Jun 28 – The Supreme Court has declared that banks and financial institutions must seek approval from the Cabinet Secretary for Finance before increasing interest rates on loans and facilities. This follows a case between Stanbic Bank and Santowels Limited that has clarified the…
- KAKAMEGA, Kenya, Jun 28 – A Section of Kakamega residents have opposed a proposal to transfer Amboseli National Park, which is a national natural resource, to the county government of Kajiado. Speaking during a public participation forum at Magharibi Hall, the residents warned that the park which…
- NEW DELHI, June 28 (Xinhua) — At least one person died and a few others were injured when a portion of a roof collapsed at New Delhi’s airport on Friday, confirmed a local cop to Xinhua over phone. The incident occurred at the airport’s Terminal-1 amid heavy rains, with water leaking from various…
- BRUSSELS, June 27 (Xinhua) — The European Council summit agreed on Thursday to formally nominate Germany’s Ursula von der Leyen for a second term as president of the European Commission. European Council President Charles Michel confirmed the nomination on social media platform X. In addition to…
- NAIROBI, Kenya, June 28 – The African Trade and Investment Development Insurance (ATIDI) has vowed to support the 35 MW greenfield geothermal project in the country through its Regional Liquidity Support Facility (RLSF). The project, which will be implemented in partnership with Globeleq Africa…
- NAIROBI, June 26 (Xinhua) — Chinese automotive brand Neta announced its entry into the Kenyan market Wednesday, with Moja EV Kenya, a motor dealer, as its distributor. Zhou Jiang, the overseas business general manager at Neta, told journalists in Nairobi, the Kenyan capital, that the firm will…
- NAIROBI, Kenya, June 27 – The United Nations Educational, Scientific, and Cultural Organization (UNESCO) has urged the government to pump more investment into technological and infrastructural development in the country for the smooth integration of artificial intelligence (AI). According to a…
- NAIROBI, Kenya, June 27 – The Central Bank of Kenya has now approved Mogo Kenya to provide digital credit services in the country. Mogo assured that the approval will now enable the company to provide affordable financing to MSMEs so as to enable them to acquire more assets and accelerate financial…
- NAIROBI, Kenya, June 27 – The Her Initiative, a Tanzanian organization that bets on women’s economic empowerment, has received Tsh560 million (Ksh27,678,161) from the King Baudouin Foundation Africa Prize to eliminate persisting barriers that hinder women’s economic empowerment in the region. In a…
- NAIROBI, Kenya 27 June 2024 Publicly listed Kenya Reinsurance Corporation (Kenya Re) has announced a significant boost in its dividend performance, with a 50% increase in dividend per share from Ksh 0.2 in 2022 to Ksh 0.3 in 2023. This remarkable growth follows a 53% rise in Profit Before Tax,…
- NAIROBI, Kenya June 27 – Listed local non-bank finance solutions provider Sanlam Kenya PLC has formulated a business plan to accelerate the firm’s growth and profitability. The business recovery plan will provide a growth platform under a restructured financial management strategy. Speaking during…
- NAIROBI, Kenya, Jun 27 – Equity Group shareholders have approved a record Sh. 15.1 billion dividend payout for a second year in a row. The dividend which is a payout ratio of 36 percent from the previous year of 33.6 percent were approved during the 20th Annual General Meeting as the shareholders…
- NAIROBI, Kenya, Jun 27 – The International Monetary Fund (IMF) has expressed concern over recent protests in Kenya over the controversial Finance Bill 2024 which was returned to Parliament yesterday after he declined to sign it. In a statement, IMF’s Director of Communications Julie Kozack asserted…
- NAIROBI, Kenya, June 26 – Three tech giants—Safaricom, Microsoft, and Lenovo—have committed to educating youths in the country on the rapidly growing tech advancements in the East African region, particularly the adaptation and integration of artificial intelligence (AI). Speaking during the East…
- NAIROBI, Kenya, Jun 26 – Stakeholders in the real estate sector have reinforced the calls for President William Ruto to halt signing the Finance Bill into law calling for dialogue on the matter. The realtors criticized the bill as oppressive and endorsed calls for its rejection saying it will…
- NAIROBI, Kenya, June 25 – The Information and Communication Technology (ICT) Authority of Kenya has stressed the need to respect data privacy as the country makes strides in embracing artificial intelligence (AI) in various sectors. Speaking during the East African Nations Chart A.I. Course at the…
- NAIROBI, Kenya, Jun 25 – Kenya’s total cyber-attacks have decreased to 971.4 million in the three months leading up to March 2024, down from 1.29 billion in the previous quarter, according to a new industry report. The Communications Authority of Kenya’s (CA) third-quarter sector statistics report…
- NAIROBI, Kenya, June 25 – Mobile money subscriptions have surged, thanks to the removal of withdrawal codes for transactions between M-Pesa and Airtel Money. This development was highlighted in the Communications Authority of Kenya (CA) third-quarter sector statistics report for the financial year…
- NAIROBI, Kenya, Jun 25 – The Communications Authority of Kenya (CA) has reported a decline in Short Message Service (SMS) traffic, coinciding with the reopening of schools. According to the CA’s recently released report, both On-net and Off-net mobile SMS saw a decrease of 4.7% and 5.3%,…
- NAIROBI, Kenya, June 25 – Fredrick Mwamati, CEO of Tanathi Water Works Development Agency (TAWWDA), has been detained by the Ethics and Anti-Corruption Commission (EACC) on allegations of involvement in a Sh292.7 million procurement fraud case. Mwamati was apprehended on Monday over accusations of…
- NAIROBI, June 25 (Xinhua) — The European Union (EU) announced Monday that it has approved its first-ever assistance measure under the European Peace Facility, allocating 20 million euros (about 21.43 million U.S. dollars) to support the Kenyan military. This initiative aims to enhance the…
- NEW DELHI, June 25 (Xinhua) — The Indian government Tuesday announced it has begun the auction of spectrum for telecom services worth 11.53 billion U.S. dollars. According to the federal ministry of communications, the total quantum of spectrum being auctioned is 10,522.35 MHz in various bands.…
- NAIROBI, Kenya, June 25 – The Kenya Revenue Authority (KRA) has urged all registered taxpayers to update their personal details on iTax so as to facilitate a smooth ongoing data clean-up exercise of personal identification numbers. In a public notice, KRA stated that the taxpayers should update…
- NAIROBI, Kenya, June 25 – In recent years, online trading in Kenya has gained significant popularity among seasoned traders and investors. With advancements in technology and a growing interest in financial markets, many Kenyans are exploring the potential of online trading to diversify their…
- NAIROBI, Kenya, Jun 24 – The Media Council of Kenya (MCK) is set to establish a network of legal experts in media law to address critical shortages in expertise, defending freedom of expression and press freedom in Kenya. Speaking on Monday, MCK Director for media training and development, Victor…
- NEW DELHI, June 24 (Xinhua) — Indian government Monday imposed stock limits on the quantity of wheat that retailers and processors can hold. The step has been taken to keep prices in check and prevent hoarding of wheat. “In order to manage the overall food security and to prevent hoarding and…
- NAIROBI, Kenya, June 24 – Experts are calling for responsible artificial intelligence (AI) adoption, coming at a time when the adoption of AI is gaining pace in Kenya and globally. James Njogu, acting Secretary General and CEO of the Kenya National Commission for UNESCO, emphasized the importance…
- JUNE 24 – Africa’s booming youth population presents a tremendous opportunity. But job creation hasn’t kept pace. The continent also faces a significant burden of diseases like malaria and HIV/AIDS. Fortunately, there’s a potential solution that can address both challenges simultaneously:…
- LONDON, June 23 (Xinhua) — The Conservative Party of the United Kingdom (UK) has been hit by several allegations that top members placed bets on the general election date, scheduled for July 4, dealing a fresh blow to Prime Minister Rishi Sunak, who is struggling to regain the trust of the public.…
- NAIROBI, Kenya, June 23 – The United States Department of Energy has revealed investment plans for Kenya’s green energy transition, focusing on e-mobility and the clean power generation sector. Deputy Secretary of the United States Department of Energy David Turk affirmed that the country has…
- NEW DELHI, June 23 (Xinhua) — The Indian Space Research Organization (ISRO) on Sunday completed its Reusable Launch Vehicle (RLV) technology demonstration by carrying out its third and final consecutive success in the RLV Landing Experiment (LEX), the space agency announced in an official statement…
- NAIROBI, Kenya, June 23 – The Association of Registered Nurse Anaesthetists-Kenya (ARNA-Kenya) has urged the government to sponsor specialist training for nurses working with expectant mothers and infants to curb child mortality. According to the association, a high number of deaths occur during…
- JUNE 23 – Four members of the UK’s richest family have received prison sentences for exploiting staff brought over from India to work at their Geneva villa. Prakash and Kamal Hinduja, as well as their son Ajay and his wife Namrata, were found guilty of exploitation and illegal employment by a Swiss…
- NAIROBI, Kenya, June 23 – Kenya and UNESCO will host an artificial intelligence (AI) forum in Nairobi tomorrow that will discuss AI potential in the region as well as its role in ethics. UNESCO’s Eastern Africa sub-regional Forum on Artificial Intelligence (EARFAI) will bring together 15 nations…
- TOKYO, June 22 (Xinhua) — Century-old Japanese financial institution Norinchukin Bank has announced plans to sell approximately 10 trillion yen (about 63 billion U.S. dollars) in overseas bonds, primarily U.S. and European government bonds, by the end of the current fiscal year in March 2025, as it…
- NAIROBI, Kenya, June 22 – Family Bank’s Sh9.3 billion issued to shareholders last December has only attracted 2.7 percent of investors, highlighting underperformance by the lender as it looks to raise capital. During a special Annual General Meeting last December, shareholders were offered 643.5…
- NAIROBI, Kenya, June 22 – Stanbic Bank has partnered with the United States African Development Foundation (USADF) to provide funding to micro, small, and medium enterprises (MSMEs), cooperatives, and producer groups. This initiative offers a lifeline of up to Sh3 million (approximately US $25,000…
- NEW DELHI, June 22 (Xinhua) — The Indian government late on Friday night brought into force a new law to check corruption in conducting exams. The new law entails penal provisions such as 10 years imprisonment and a monetary fine of 10 million Indian rupees (around 119,674 U.S. dollars) for those…
- NAIROBI, Kenya, June 22 – The Kenya National Chamber of Commerce and Industry (KNCCI) will take delegates to Zambia on a trade mission. KNCCI Chair Ronald Meru says hundreds of delegates will participate, with the event slated for July 28. The agency will use the event to court business…
- LOS ANGELES, June 21 (Xinhua) — The ongoing bird flu outbreak at U.S. dairy farms has heightened concerns among public health experts as more dairy herds test positive for the virus in recent months. The influenza A (H5N1) virus, commonly known as bird flu, is widespread in wild birds worldwide and…
- NAIROBI, June 21 (Xinhua) — Kenya’s earnings from horticulture exports rose 14.3 percent in the first quarter of 2024, boosted by increased shipments to markets in Europe and Asia, the Central Bank said in new economic data released Friday. The central bank said the country earned 45.1 billion…
- By Peter Mulwa JUNE 22 – Kenya, a nation celebrated for its vibrant culture and dynamic society, is now experiencing the profound impact of its youngest adult generation Gen Z. Born between the mid-1990s and early 2010s, they are stepping into adulthood amidst unprecedented technological…
- By Christian Bwakira JUNE 22 – Mobile money has exploded across African economies as an enabler of financial inclusion by bringing in large swaths of the population that remained unbanked into the fold to participate in economies across the continent. According to GSMA’s 2024 State of the Industry…
- VILNIUS, June 21 (Xinhua) — The Lithuanian parliament (Seimas) on Thursday passed an annual quota allowing 40,000 third-country nationals to come and work in Lithuania. Eighty-seven MPs voted in favor of the quota, one against, and eight abstained. “We will have a real quota that allows us to…
- NAIROBI, Kenya, June 21 – The government has unveiled a plan that will see the country boost economic growth through the use of cryptocurrency and blockchain. ICT-Security and Audit Control Secretary Emmanuel Kata Kimeu said that the state is keen on leveraging blockchain to unlock new…
- NAIROBI, Kenya, June 21 – Jubilee Life Insurance expects its fourth Art Contest to attract 15,000 pupils from all counties, up from 10,000 participants last year. This year, the Live Free Art Competition will accept submissions from young artists in Grades 1 to 4 under the Competency-Based…
- NAIROBI, Kenya, June 21 – BrighterMonday Kenya has solidified its leadership in the e-recruitment sector by winning the Best E-Recruitment Platform award at the Kenya E-Commerce Awards 2024. The award affirms the company’s dedication to revolutionizing the recruitment process through digital…
- JUNE 21 – Disputes between the European Union and high-spending member nations about the size of their budget deficits are resuming, after the bloc resurrected financial regulations it suspended because of the novel coronavirus pandemic. The reactivation of the 27-member bloc’s financial rules…
- NAIROBI, Kenya, June 21 – Africa Mega Agriculture Centre (AMAC) Limited, an agribusiness company that specializes in leasing farming equipment, agro-processing, and storage solutions, has announced a move to acquire 84.42 percent of the total share capital of Kenya Orchards Limited (KOL). AMAC will…
