- MOSCOW, May 23 (Xinhua) — Russian President Vladimir Putin signed a decree Thursday on the seizure of U.S. properties in response to the potential confiscation of Russian assets by the United States. According to the decree, the Russian Central Bank and Russian entities will have the right to seek…
- NAIROBI, Kenya, May 24 – Wilfred Kiboro, who has been Chairman of the Family Bank for the last 12 years, is set to leave the bank. Kiboro joined the lender in 2012 and has been serving in the position since then. The current chair is credited with expanding the bank’s network from 68 branches to […]
- NAIROBI, Kenya May 23 – President William Ruto has secured $3.6 billion (Sh 477 billion) in funding from the United States to construct the 440-kilometer Nairobi-Mombasa Expressway, marking a major milestone for Kenya. This significant infrastructure project will connect the capital city of Nairobi…
- NAIROBI, Kenya, May 24 – The Kenya Revenue Authority (KRA) is now pushing for its budget allocations to be capped at a minimum of 2 percent of total targeted revenue collection in every financial year. KRA Commissioner General Humphrey Wattanga told the National Assembly Finance Committee that…
- DAR ES SALAAM, May 23 (Xinhua) — Three foreigners from Brazil, Kenya and India and eight Tanzanian technicians were killed, and two others were seriously injured early Thursday in an explosion at a sugar factory in Morogoro Region of eastern Tanzania, a local official said. Morogoro Regional Fire…
- NAIROBI, Kenya, May 24 – The Energy and Petroleum Regulatory Authority (EPRA) has announced plans to tighten regulations on the opening of new LPG brands to enhance consumer safety. EPRA’s Petroleum and Gas Director, Edward Kinyua, emphasized that stringent regulations are the surest way to protect…
- NAIROBI, Kenya, May 23 – Kenya Airways (KQ) network is gradually returning to normal after the unscheduled grounding of two of its 787 Dreamliners, which disrupted various passengers flight schedules. In a statement, KQ confirmed that it has already received the necessary engine components for one…
- NAIROBI, Kenya, May 23 – I&M Group profit after tax grew by 33.3 percent to Sh3.6 billion in the three months to March this year compared to a similar period on improved interest and operating revenues. In a similar period in January and March 2023, the lender’s profit stood at Sh2.7 billion.…
- NAIROBI, Kenya, MAy 23 – Japanese pain manufacturer Kansai Coatings Kenya has entered into Members’ Voluntary Liquidation, a less costly process of terminating a firm that is about to wind up operation. Kansai says the decision was formalized during an Extraordinary General Meeting (EGM), where…
- KIGALI, May 23 (Xinhua) — The International Monetary Fund (IMF) on Wednesday announced the approval of 164.6 million U.S. dollars in funding for Rwanda to strengthen its economic resilience against future climate shocks. The package includes 76.2 million dollars from the Resilience and…
- MAY 23 – I have never before heard of pegging an election launch to a set of economic statistics, but Prime Minister Rishi Sunak has clearly decided to go for an election on the back of Wednesday’s inflation figures, and the stronger than expected exit from recession. Inflation figures showed that…
- NAIROBI, Kenya, May 23 – Energy and Petroleum Cabinet Secretary Davis Chirchir and the European Commissioner for Energy Kadri Simson launched the Kenya Green Resilient Electricity System Programme during the International Energy Agency’s (IEA) 9th Annual Global Conference on Energy Efficiency. The…
- NAIROBI, Kenya, May 23 – Huawei Kenya plans to recruit 30 Kenyan university students through job and internship offers under its graduate trainee program. The Huawei Management Trainee Program (HMTP), an annual Huawei global flagship program that identifies and develops fresh talent in the STEM…
- NAIROBI, Kenya, May 23 – Kenya Power is calling for a total ban on copper exports to curb rampant vandalism of power infrastructure. The utility company is also advocating for stringent action against rogue scrap metal traders. Its CEO and MD, Joseph Siror, cited a connection between local trade in…
- HANOI, May 23 (Xinhua) — Intra-region travel remains a dominant trend among Vietnamese travelers, with 64.4 percent of Vietnamese tourists opting for nearby destinations within Asia for their next journeys, according to a report of Outbox Company, a leading market research and data analytics firm…
- TOKYO, May 23 (Xinhua) — The wingtips of two Japan Airlines (JAL) passenger planes collided at Tokyo’s Haneda Airport on Thursday morning, local media reported. JAL said the incident occurred at around 7:30 a.m. local time. Both aircraft sustained damage, but no injuries were reported, public…
- NAIROBI, Kenya, May 23 – The Retirement Benefits Authority (RBA) has urged corporate trustees to register with the authority as the deadline approaches. Charles Machira, the retirement authority Chief Executive Officer (CEO), said as part of its transformative agenda, the authority has set new…
- By Gituku Kirika NAIROBI, Kenya, May 23 – Digitisation will deliver a big chunk of Kenya’s economic and social gains over the next decade. But, for the transformation to happen more affordably and quickly, we need robust and open digital infrastructure. The good news is that this infrastructure…
- NAIROBI, Kenya, May 23 – Low-cost carrier Jambojet will launch its first flight connecting Mombasa and Zanzibar on July 1, 2024. The subsidiary of Kenya Airways will operate four non-stop flights per week, with plans to increase the number to six. Jambojet says that direct flights between the two…
- NAIROBI, Kenya, May 23 – KPMG is set to hold its 2024 Private Enterprise Africa Venture Summit in June 2024 in Nairobi. The two-day event, which will happened between June 10 and 11, will bring together investors, entrepreneurs, policymakers, and industry leaders with a focus on collaboration,…
- MAY 23 – The use of artificial intelligence (AI) at easyJet’s new control centre has allowed its operations teams to better manage flights, the airline said. Personnel based at the integrated control centre near Luton Airport, Bedfordshire, have access to Jetstream, a generative AI tool. It helps…
- NAIROBI, Kenya, May 23 – KCB Group net profit in the three months to March this year expanded by nearly 70 percent to Sh16.5 billion compared to a similar period in 2023, buoyed by improved incomes from regional subsidiaries. Between January and March last year, the lender’s profit after tax stood…
- NAIROBI, Kenya, May 22 – NCBA Group profit after tax grew to Sh5.3 billion in the three months to March this year compared to a similar period last year, boosted by improved operating income, among other revenue streams. In its latest financial statement, the lender’s net profit grew from Sh5.1…
- NAIROBI, Kenya, May 22 – Microsoft Corporation, in partnership with G42, a technology group, has announced a $1 billion deal for digital investments in Kenya. The comprehensive digital ecosystem initiative for Kenya will be the largest single private-sector digital investment in the country’s…
- NAIROBI, Kenya, May 22 – A total of 78 transformers have already been vandalized in 2024, Kenya Power has announced, with a value of Sh78 million. Speaking during a dialogue forum with scrap metal dealers today, KPLC managing director (MD) Joseph Siror said in 2023, 365 transformers were lost worth…
- JUBA, May 22 (Xinhua) — The greater part of the Horn of Africa is expected to receive heavy rains between June and September, according to a statement on the region’s climate outlook. The rain pattern between June and September will be above normal in Djibouti, Eritrea, central and northern…
- NAIROBI, Kenya, May 22 – Stanbic Bank has upgraded its core banking system, called ‘Temenos 24’ into latest version. The T24 upgrade will, however, be done in phases, the bank said, to minimize service disruption, and will be completed by the end of the year. After the upgrade, the lender expects…
- NAIROBI, Kenya, May 22 – AfriLabs, a network of technology and innovation hubs across Africa, has said that it will champion innovation and technology at the upcoming GITEX Africa event. The biggest tech and startup show in Africa is scheduled to take place from May 29th to 31st in Marrakech,…
- May 22 – Kenya’s government has defended the cost of President William Ruto’s trip to the US. Reports indicate that the price of hiring the luxury private jet in which he and his delegation travelled is estimated to be $1.5m (£1.2m). “The benefits from this visit far outweigh such a million times…
- NAIROBI, Kenya, May 22 – Coca-Cola has announced plans to increase its investment in Kenya by up to Sh23 billion ($175 million) over the next five years, assuming the corporation meets its expected growth targets in the nation. Sunil Gupta, CEO of Coca-Cola Beverages Africa, welcomed President…
- LONDON, May 22 (Xinhua) — The Consumer Prices Index (CPI) of the United Kingdom rose by 2.3 percent in the 12 months to April 2024, down from 3.2 percent in March, showed official data released on Wednesday. “The annual rate in April 2024 was the lowest since July 2021, when it was two percent,”…
- NAIROBI, Kenya, May 22 – Kenyan clothing brand Vivo has opened its first store in the United States of America (USA) as it seeks to grow its market share beyond Africa. Founded by Wandia Wachira and Anne Marie Burugu in 2011, Vivo specializes in ladies fashion brands that are manufactured locally.…
- NAIROBI, Kenya, May 22 – Lipton Teas and Infusions has withdrawn earlier plans to acquire full ownership of Limuru Tea. As the majority shareholder, owning 51.99 percent of Limuru Tea’s total issued share capital, Lipton Teas initially issued a notice on July 4, 2022, indicating its intention to…
- MADRID, May 21 (Xinhua) — International tourist arrivals surged to 97 percent of pre-pandemic levels in the first quarter of 2024, with projections indicating that numbers are expected to exceed those of 2019 over the rest of the year, the UN Tourism reported on Tuesday. The Madrid-based…
- NAIROBI, Kenya, May 22 – Facebook and WhatsApp stand out as the top social media platforms used in Kenya, with YouTube and TikTok following closely in popularity. According to an audience measurement and industry trends report released by the Communication Authority of Kenya (CA), the prevalence of…
- KAMPALA, May 21 (Xinhua) — Investors in Uganda have expressed optimism about the business environment, especially in the manufacturing and wholesale trade sectors in the East African country, according to a government report released on Tuesday. The optimism is shown by the Business Tendency Index…
- BRUSSELS, May 21 (Xinhua) — The Council of the European Union (EU) announced on Tuesday that ministers from EU member states have agreed to use proceeds from frozen assets of the Central Bank of Russia (CBR) to support Ukraine’s military efforts. Under the agreement, 90 percent of the profits from…
- NAIROBI, May 21 (Xinhua) — The hum of city life could be heard outside the cybercafe on the second floor of a building on Tom Mboya Street in Kenya’s capital, Nairobi. Vehicles honked, touts shouted the names of residential estates to which the cars were headed, and hawkers sang out the prices of…
- NAIROBI, Kenya, May 21 – Agriculture and Livestock Development Principal Secretary Paul Rono has called for a renewed focus on the Comprehensive Africa Agriculture Development Programme (CAADP). Speaking at a three-day stakeholder engagement, Rono emphasized the need for innovation and adaptation…
- NAIROBI, Kenya, May 21 – Trade and Investments Cabinet Secretary (CS) Rebecca Miano has ordered the Kenya National Trading Corporation (KNTC) to develop new reforms within 90 days that will help stabilize the prices of essential household items. “I have directed the KNTC Board of Directors to…
- NAIROBI, Kenya, May 21 – Valor Hospitality, an American-based global hospitality management firm, has ventured into Kenya. Apart from Kenya’s TUI Blue Watamu in Kilifi County, the firm has also signed Zanzibar’s first Canopy by Hilton. The TUI Blue Watamu Hotel development is scheduled to break…
- BRUSSELS, May 21 (Xinhua) — The European Council announced on Tuesday that ministers from the European Union (EU) member states have given their final approval to the bloc’s artificial intelligence (AI) act. The AI Act has adopted a risk-based approach, subjecting higher-risk AI applications to…
- NAIROBI, Kenya, May 21 – Clothes exported from Kenya to the United States of America (USA) dropped by Sh5.9 billion to Sh50.8 billion last year, eaten by the global recession and slowdown in the US market. Data from the Kenya National Bureau of Statistics (KNBS) shows that exports dropped from Sh56…
- NAIROBI, Kenya, May 21 – Joe Levy has been confirmed as the CEO of Sophos, a global company that offers cybersecurity services. Levy, who has been acting in this capacity since February 15, has also picked Jim Dildine as the new chief financial officer (CFO) as well as other senior managerial…
- NAIROBI, Kenya May 21 – The Kenya Association of Air Operators (KAAO) now says the proposed deletion of certain Value Added Tax (VAT) exemptions in the 2024 Finance Bill will impede growth and investment in the sector. According to the association, the bill seeks to eliminate VAT exemptions…
- NAIROBI, Kenya, May 21 – A total of 18 Kenyan students have left the country for China to participate in this year’s Huawei ICT Competition Global Final in Beijing. The challenge attracted more than 120,000 students from 2,000 universities and colleges in 74 countries and regions worldwide. Six…
- NAIROBI, Kenya, May 21 – Subscribers of mobile money decreased from Sh38.6 million in 2022 to 38.0 million in 2023, indicating a shift in consumer behavior on patterns of making payments due to the hiked fees imposed on mobile money transactions. The latest report on the 2024 Economic Survey…
- BERLIN, May 21 (Xinhua) — Up to 50 percent of the world’s rangelands are degraded, endangering food security and the wellbeing of billions, warned the UN Convention to Combat Desertification (UNCCD) in a report on Tuesday. Rangelands constitute 54 percent of Earth’s land cover, account for one…
- By Ali Hajji Adam and Mekdes Daba NAIROBI, Kenya, May 21 – Global progress on improving maternal, newborn, and child survival has stalled. Many regions of the world continue to experience persistently high rates of maternal and child mortality, and despite improvements between 2000 and 2015,…
- NAIROBI, Kenya, May 21 – The Central Bank of Kenya (CBK) has issued additional regulatory approval to LemFi to offer remittance services in Kenya. RightCard, which operates under the name LemFi, says that the approval now allows it to partner with local partners. LemFi rolled out its operations in…
