Category: Business

The new tax package was approved by parliament last week and will double tax on fuel to 16 percent and introduce a new housing levy, a move expected to have a ripple effect in a country hamstrung by high inflation.

David Ole Sankok, a Kenyan member of the East African Legislative Assembly (Eala), has tabled a resolution recommending the EAC use local currencies to boost cross-border trade.

In a tweet, Zambian President Hakainde Hichilema said the country had "reached an agreement on a debt treatment with our official creditors", calling it a "significant milestone in our journey towards economic recovery (and) growth".

Recent challenges have, however, forced donors to resort to relief food and material goods, which too have proven susceptible to theft and misappropriation.

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The national carrier has been operating five daily flights on the US route since January when the demand for passengers was low as America entered into the winter season.

A study by internet retail platform Jumia shows that this market, however, is underreached because of lack of critical infrastructure such as roads and internet penetration.

The NSE launched the Growth Enterprise Market Segment (Gems) for SMEs about 10 years ago to allow smaller companies list shares for visibility and price discovery.

Economists are warning the region’s citizens to brace for harder times as the fiscal measures proposed in the 2023/24 budgets are wont to further raise the cost of living, cause investor flight in some countries, and result in job losses.

Kenya exported seven million kilogrammes to Beijing between March and May this year as more farms and pack houses tapped into the lucrative Chinese market.