Category: Business

Around 78 percent of the 801 million birr withdrawn from cash machines or transferred during the night of March 15, or 622.9 million birr ($11 million), has been returned, the president of the bank Abie Sano said on Tuesday.

The Kenya Electricity Transmission Company Limited (Ketraco) revealed that commissioning of the line was extended to next month at the earliest from an earlier target of December last year.

In 2023, 62 Kenyan start-ups raised an estimated $673.78 million from local and international investors, a rise from the $574.8 million raised in 2022, even as the rest of the continent saw a drop in funding, data by start-up research organisation, Disrupt Africa shows.

Tanzania’s Minister of Foreign Affairs and East African Cooperation, January Makamba, said this in Kigali during his recent four-day visit to Rwanda.

Tanzania’s Finance Minister Mwigulu Nchemba held back-to-back meetings with representatives from the AfDB and the Burundi government last week, the first high-level discussions since Tanzania signed a $91.76 million agreement with the pan-African lender on February 23 to fast-track the project, whose launch has been...

The EastAfrican understands that President Samia Suluhu Hassan’s government has offered to register Uganda National Oil Company (Unoc) to use the Dar es Salaam port in the importation of fuel for Uganda as Kenya sticks to its guns on Uganda’s demands.

This is after the IMF team led by Ruben Atoyan visited Kigali from March 11 to March 22, 2024 to assess the country’s economic reform progress within the context of the third review of Rwanda’s Policy Coordination Instrument (PCI) and Resilience and Sustainability Facility (RSF),...

According to the Treasury Department, the IFC entered into a “supplemental confidential” in what may have been aimed at covering up cases of sexual abuse soon after the Compliance Advisor Ombudsman (CAO) started the probe.

A big chunk of expenditure is expected to go the elections and preparations for the 2027 Africa Cup of Nations (Afcon) finals, which Tanzania is hosting jointly with Kenya and Uganda.

The Bank of Uganda (BoU) recently convened a Monetary Policy Committee (MPC) meeting that increased its policy rate by 50 basis points to 10 percent to deal with the new inflation threats.