Category: Business

Global sugar prices have surged to an 11-year high as the largest global producers experienced reduced cane production, curtailing Kenya’s ability to ship in more stocks to cool runaway prices now at more than Ksh420 ($3) for a two-kilo packet.

This will push the country’s GDP to $55.2 billion by the end of the 2023/24 financial year — up from the current $49.4 billion — which translates into $156.76 billion in purchasing power parity terms, and take the country’s GDP per capita to $1,186, from...

The worrying state of affairs demonstrates the extent of the battering that listed firms have borne in the hands of the ongoing economic crisis and the investors seemingly lack of interest in stocks as a result of depleted disposable incomes and the emergency of alternative...

In the region, Rwanda could be on track to become a regional hub for MICE (Meetings, Incentives, Conferences, and Exhibitions/Events) with the country earning $ 62.4 million in 2022 from hosting 104 events. This was a growth from $12.5 million in 2021, signaling a strong...

As Africa’s population continues to grow fastest in the world, a new report by the McKinsey Global Institute (MGI) shows that, despite positive signs at the start of this century, Africa’s economies took a different turn in the second decade and might get into a...

The World Bank says the cash transfer fees in the banking sector and the lower exchange rate is encouraging the use of traditional money transfer by Kenyans abroad.

Various government officials have this past week been defending the PPP, an arrangement where private firms are invited to build or provide services and recoup monies from fees charged.

These were part of the resolutions of the second ministerial retreat of the Council of Ministers on the African Continental Free Trade Area (AfCFTA) that was held from May 29-31 in Nairobi.

Juba is also seeking to reduce the cost of cash transactions by phasing out low denomination banknotes and reduce the cash reliance of the economy through supportive policies, including paying civil servants through bank accounts.

The bank, which is listed on both the Nairobi and Rwanda stock markets, reported the rise in earnings from Rwf15.6 billion ($13.95 million) on the back of a 1.4 percent growth in the loan book to Rwf1.12 trillion ($1 billion).