Category: Business

The board of the World Bank Group is scheduled to meet on May 26 to approve the $1 billion to Kenya through its Development Policy Operation (DPO) framework.

The amount, which is more than the $7.6 million net profit that I&M Group had generated from the Rwandan market in the financial year ended December 2022, was lost between November 1 last year and January 17.

The Kenya National Bureau of Statistics (KNBS) released the Economic Survey 2022 Wednesday, detailing how various sectors and jobs market performed.

The foreigners, who accounted for 81.6 percent of market activity in January 2019 when their trades stood at Ksh26.4 billion ($194.26 million), have been fleeing the NSE on the back of rising interest rates in the developed economies.

Sources told The Nation the commencement of the disbursement of the mega loan follows approval by the Board of Directors of Afrexim Bank.

US initiative Prosper Africa and the US Embassy announced the funding at the launch of the US-Kenya Business Roadshow held on April 25 in New York. The announcement was part of the commitments made by President Joe Biden at the US-Africa Leaders’ Summit last year.

But Uganda’s Minister for Energy and Mineral Development Ruth Nankabirwa while responding to the report told the house on Tuesday blamed the loss on a dispute between Uganda Revenue Authority and more than 20 gold exporters and refiners.

Senior government officials last weekend engaged Kenyans living outside the country in an interactive virtual information session where they charmed them to take up the slots held by foreign investors in the country’s capital markets.

Bulk buyers of dollars have witnessed increased availability of the greenback in recent days, a marked departure from market conditions that saw banks run out of the US currency on some days as others imposed a daily cap on dollar purchases of as little as...

<p class="align--justify">Central Bank of Kenya (CBK) data show that foreign currency bank deposits hit a historic high of Ksh987.7 billion ($7.27 billion), just Ksh13 billion ($95.7 billion) shy of the trillion mark as individuals and big companies sought a safe haven for their wealth.</p>