Category: Business

In a U-turn, South Sudan’s President Salva Kiir now wants Dr Ruto to allow goods to and from his country to be cleared at the port of Mombasa and not at the Nairobi Freight Terminal (NFT).

Latest data compiled by the Uganda Retirement Benefits Regulatory Authority shows total industry assets increased from Ush17.8 trillion ($4.8 billion) in 2020/2021 to Ush19.9 trillion ($5.2 billion) in 2021/2022.

Dr Ruto has urged his peers in Africa to mobilise central and commercial banks to join Pan-African Payments and Settlement System (PAPSS) which was launched in January 2022.

A new report by the African Export-Import Bank (Afreximbank) shows that bond issuance by African countries declined by 70 percent in 2022, with some countries such as Kenya compelled to cancel planned Eurobond issues.

This is despite KCB’s profit for the first quarter dipping 2.9 percent from Ksh9.79 billion ($70.8 million) in the same period last year to Ksh9.5 billion ($68.7 million), which was mainly due to a drop in its Kenyan units’ earnings.

A deal, if struck, will provide the much-needed capital that the British oil explorer has been looking for a strategic investor to cushion its risks for the multi-billion-shilling project that includes setting up a crude pipeline and processing facilities for the oilfields.

It is the latest step of several over the past five years, in which Somalia has to go through economic performance examination by IMF, generally referred as IMF Staff Monitoring Performance (SMP). 

The move comes just months after the firm, which was founded in 2018, raised $1 million (Ksh138.3 million) in seed extension funding in August last year bringing the total size of its round to $2.5 million (Ksh345.8 million) after it raised a $1.5 million (Ksh207.5...

Appearing before the National Assembly’s Finance and Planning committee on Tuesday, the telco put up a spirited fight against new taxes on mobile phones as contained in the Finance Bill, 2023, arguing that it will be impossible to achieve the target price of a $50-smartphone...

While that is a welcome development, the International Energy Agency (IEA) warned that investment in fossil fuels is rising when it should be falling fast to achieve net zero emissions by 2050.