Category: Business

The number of jobless persons grew 2.94 percent from 2.89 million in September, according to Kenya National Bureau of Statistics (KNBS) data released on Monday, a pointer that the economy shed over 80,000 jobs in the three months after the August 9 General Elections.

The segment's share of shipments rose from 41.6 percent in quarter 3 2022, to 43.8 percent in quarter 4 2022 as vendors raced to launch affordable smartphones with premium features targeting youthful customers.

The funders who include the European Union (EU) say the Bus Rapid Transport (BRT) lane will be the first in East Africa and is part of a system of five such lanes to be developed in Kenya.

Nation Media Group board chairman Dr Wilfred Kiboro has challenged East African businesses to conquer their fears about insecurity, language barriers and tedious red tape and invest in the Democratic Republic of Congo (DRC) to help develop the continent.

"In accordance with established procedures, the executive directors will conduct a formal interview with the candidate in Washington DC and expect to conclude the presidential selection in due course," the bank said in a statement.

The gap between exports and imports widened to KSh88.3 billion ($667.9 million) last year from KSh80.49 billion ($608.82 million) the year before, marking the highest value since 2016 when it hit KSh94.41 billion ($714.12 million).

The strengthening and scarcity of the dollar has sent shock waves in global foreign exchange markets leading to a surge in inflation and interest rates.

Official data from the Kenya Ports Authority (KPA) shows that Lamu is handling less than 2,000 twenty feet equivalent units (TEUS), with the Salalah port in Oman the main preferred transshipment port.

The banking regulator on Tuesday termed the latest development as another ‘progressive milestone’ in its quest to transform Somalia’s financial sector.

The development follows several on-and-off engagements over the matter between officials from the two countries.