- NAIROBI, Kenya, Oct 3 – Moody’s Investors Service (Moody’s) yesterday affirmed the East African Development Bank’s (EADB) Baa3 long-term issuer rating and maintained the stable outlook. The rating affirmation reflects the EADB’s strong capital position, offset by low development asset credit…
- NAIROBI, Kenya, Oct 3 – Natural food producer Greenforest Food has embraced new innovations to increase sustainable food production. The new technologies seek to define the future of the food industry while promoting positive economic change through youth employment. “GreenForest Foods is all about…
- NAIROBI, Kenya, Oct 3 – Tatu City has teamed up with Equity Bank Kenya to offer financing solutions for property purchase and construction within Tatu City. The lender says that it will offer individuals and businesses at Tatu City a range of investment services. These financial products will…
- COLOMBO, Oct. 3 (Xinhua) — Sri Lanka’s economy is expected to grow by 1.7 percent in 2024 after contracting by 3.8 percent in 2023, the World Bank said in its twice-a-year update on Tuesday. The World Bank said that the outlook is clouded with uncertainty and that growth prospects depend on…
- NAIROBI, Kenya, Oct 3 – Kenya Power is planning to clear meter backlogs within 90 days through the implementation of a rapid results initiative (RRI). The utility firm’s managing director and CEO, Joseph Siror, assured customers that the agency was committed to clearing the delays. “In the recent…
- NAIROBI, Kenya, Oct 3 – Microsoft is partnering with M-PESA Africa to support its Capability Development Academy. The tech firm will provide access to the Microsoft Community Platform and SME Skilling Programs to drive capacity building and digitisation for Micro, Small and Medium SMEs (MSMEs)…
- CHICAGO, Oct. 2 (Xinhua) — The United Auto Workers (UAW) has reached a tentative five-year contract agreement with Mack Trucks that covers about 4,000 workers in the U.S. states of Pennsylvania, Maryland, and Florida. Mack Trucks confirmed the deal on Monday after the UAW’s announcement just before…
- NAIROBI, Kenya, Oct 3 – The government plans to modernize and expand Jomo Kenyatta International Airport (JKIA) as it seeks to make it competitive regionally. Caleb Kositany, Chairman of the Kenya Airport Authority (KAA), said that the new facility will reduce congestion at Kenya’s main port of…
- NAIROBI, Kenya, Oct 3 – The Commission for University Education has approved an application by Zetech University to offer its inaugural Doctorate Degree Program. The university, which has its main campus in Ruiru, Kiambu county, said the newly approved Doctor of Philosophy in Business…
- HARARE, Oct. 3 (Xinhua) — Zimbabwe is on course to attain a mining sector growth target of a 12-billion-U.S.-dollar industry by year end, with the gold sector expected to play a major role towards the ambitious target, Minister of Energy and Power Development Soda Zhemu said on Monday. According to…
- ADDIS ABABA, Oct. 2 (Xinhua) — Deputy Chairperson of the African Union (AU) Commission Monique Nsanzabaganwa has called for ensuring inclusive development for African citizens. The senior AU official made the remarks during the AU Executive Council meeting, which is being held under the theme “…
- NAIROBI, Kenya, Oct 3 – A housing sector activist is demanding prudent utilization of housing taxes to build decent and affordable houses in informal settlement as the world marked UN Habitat Day. Grassroots Trust for community organization coordinator Lawrence Apiyo said dwellers in slums deserve…
- JAKARTA — The Jakarta-Bandung High-speed Railway (HSR), the first of its kind in Indonesia, has been officially in operation as a train started off amid cheers and applause at Halim Station in the Indonesian capital on Monday morning. Indonesian President Joko Widodo announced the HSR’s name “…
- BEIJING, Oct. 2 (Xinhua) — Beijing’s scenic areas received more than 6.8 million visitors during the first three days of the ongoing National Day holiday, up 60.6 percent year on year and bringing a sharp increase in tourism revenues, local authorities have said. During the period, the major scenic…
- NAIROBI, Kenya, Oct 2 – The Competition Authority of Kenya (CAK) will open investigations into animal feed companies over price fixing. CAK says that the inquiry will look into price, cost, and quantity produced, as well as market shares and ownership, among others. “The key objective of the market…
- NAIROBI, Kenya, Oct 2 – The Kenya Esports Games African qualification will be covered by the 5G network following a deal between Huawei and the Esports Federation of Kenya. The eFootball category has attracted 12 teams drawn into two groups of six each, with four slots up for grabs. Kenya is in…
- NAIROBI, Kenya, Oct 2 – Togolese passenger airline Asky Airlines started flying to Nairobi from Lome on Saturday as the company expanded its presence in East Africa. The airline will be flying four times a week between the two nations. Its expansion to Kenya now provides travelers with connecting…
- KIGALI, Oct. 1 (Xinhua) — Jean Paul Kubwimana, a Rwandan resident, is engaged in a lucrative greenhouse farming venture after receiving support from the Sustainable Agricultural Intensification and Food Security Project (SAIP), a project funded by the World Bank. “I thank SAIP for supporting me to…
- NAIROBI, Kenya, Oct 2 – Chinese investors and businesspeople operating in Kenya and East Africa will access banking services after the relaunch of the China Desk by Absa Bank Kenya. The new desk, which is fully staffed with Mandarin-speaking professionals, will offer project and trade financing as…
- WASHINGTON, Oct. 1 (Xinhua) — The World Bank on Sunday projected a 5.1 percent growth for the Chinese economy in 2023, according to its newly released East Asia and Pacific Economic Update. “China has remarkable strengths,” Aaditya Mattoo, chief economist for the World Bank’s East Asia and Pacific…
- NAIROBI, Kenya, Oct 2 – Kericho Women Representative Beatrice Kemei is sponsoring a motion in the National Assembly to compel the national government to build proper access roads on all roadside markets in the country. Lack of proper access roads, the MP says, forces buyers and traders to encroach…
- NAIROBI, Kenya, Oct 2 – NCBA Bancassurance Intermediary Ltd., a subsidiary of NCBA Group, has today rolled out a digital insurance service, allowing customers to buy policies digitally. The self-service portal, dubbed NCBA Go Insure, aims to simplify the insurance process. The platform provides…
- NAIROBI, Oct. 2 (Xinhua) — The Plan for China Supporting Africa’s Agricultural Modernization, envisioned by Chinese President Xi Jinping, holds the key to advancing the continent’s inclusive growth, a Kenyan scholar has said. Once fully implemented, the plan will bring vitality to Africa’s food…
- BEIJING, Sept. 30 (Xinhua) — China’s lottery ticket sales surged 53.6 percent year on year to about 52.96 billion yuan (about 7.38 billion U.S. dollars) in August, data from the Ministry of Finance showed. Sales of lottery tickets to support the welfare system stood at approximately 18.64 billion…
- NAIROBI, Oct. 1 (Xinhua) — Kenya is making progress in enhancing child online safety amid the rapid proliferation of the internet, a United Nations Children’s Fund (UNICEF) official said Friday. Eri Mathers Suzuki, chief of child protection at the UNICEF Kenya office, said the East African nation…
- TOKYO, Oct. 1 (Xinhua) — Over 4,000 food and beverage items are subject to price hikes in Japan this month, more than double the figure in the previous month, as businesses continue to pass on their higher raw material costs to consumers, according to a report by a credit research company. Some 195…
- NAIROBI, Kenya, Oct 1 – The Architects Association of Kenya (AAK) has joined landscape architects from all over the world to call for recognition of their profession. In a two-day conference that brought on board architects drawn from several countries in the world under the banner of the…
- BRUSSELS, Sept. 29 (Xinhua) — Annual inflation in the eurozone dropped to 4.3 percent in September from 5.2 percent in August, Eurostat, the statistical office of the European Union (EU), said on Friday. The food, alcohol and tobacco prices were the main drivers of the annual inflation rate in the…
- WASHINGTON, Sept. 30 (Xinhua) — The clock is ticking as a U.S. government shutdown looms. As lawmakers scramble to pass a budget before the Oct. 1 deadline, all eyes are on Democrats and Republicans, who can not agree on a budget amid a bitter partisan divide. If the two parties fail to meet the…
- NAIROBI, Kenya, Sep 30 – President William Ruto has affirmed that the government is not planning to privatise the Port of Mombasa amid claims from a section of opposition leaders. The Head of State, who was speaking yesterday at the United Democratic Alliance’s (UDA’) National Delegates Convention…
- NAIROBI, Kenya, Sep 30 – Kenyans are trooping towards car financing companies like Autochek to secure their car of choice as the harsh economic times continue to push their dream car further from their reach. For many, the hurdle to jump over is ensuring that their credit score does not hamper…
- CHICAGO, Sept. 29 (Xinhua) — The United Auto Workers (UAW) is expanding its strike against the Big Three U.S. automakers to General Motors Co. and Ford Motor Company SUV plants, UAW President Shawn Fain announced during a Facebook Live event on Friday, the 15th day of the strike. Fain told workers…
- VLADIVOSTOK, Sept. 30 (Xinhua) — A recent survey showed that roughly 58 percent of Russians expressed a positive attitude toward Chinese goods, local media reported on Friday. The survey was conducted by Russia’s Otkritie Bank and Rosgosstrakh Life Insurance Company from Sept. 14 to 21 in all macro…
- NAIROBI, Kenya, Sep 30 – Linda Mesa Wambani will, from tomorrow, be the new Safaricom Company Secretary following the resignation of Kathryne Maundu. The firm’s board, however, says that Wambani’s selection is subject to regulatory approval. With over 19 years of experience in the legal field,…
- WASHINGTON, Sept. 28 (Xinhua) — The U.S. government started notifying federal workers on Thursday that a shutdown seems to be imminent, as the Congress remains deadlocked over how to fund the government just three days before funding for this fiscal year is set to expire. “During this time, some of…
- NAIROBI, Kenya, Sep 29 – The Kenya Revenue Authority (KRA) will unveil an online auction and tax amnesty on Monday as it launches the Annual Taxpayer’s Month. The online auction, which was previously a physical event held in Nairobi and Mombasa, will open up the process to taxpayers nationwide.…
- NAIROBI, Kenya, Sep 29 – East African Breweries Limited (EABL) has cut carbon emissions by 55 percent in the last year, the firm has announced. The rollout of biomass steam plants in Uganda and Kenya has increased EABL’s renewable energy operations to 64.86 percent, up from 25.8 percent in 2022.…
- NAIROBI, Kenya, Sep 29 – More than 100 banking leaders from across Southern Africa and around the world are meeting in Lusaka to share best practice. They also sought to strengthen high impact private sector financing across the region. Zambian Minister of Small and Medium Enterprise Development…
- NAIROBI, Kenya, Sep 29 – The Head of the Public Service Commission (PSC), Felix Koskei, has urged police officers not to take bribes from illicit brewers. Koskei urged the officers to also stop tax hemorrhages at border points. “Alcohol, food and other products have been entering the country…
- KUALA LUMPUR, Sept. 29 (Xinhua) — Malaysia has imposed anti-dumping duties on Japanese cold rolled coils following the completion of its investigations, which began earlier this year, the Ministry of Investment, Trade and Industry (MITI) said on Friday. The final determination had been made to…
- NAIROBI, Kenya, Sep 29 – The private lending arm of the World Bank, the International Finance Corporation (IFC), last year invested Sh111.1 billion into Kenyan firms, its Africa Vice President Sergio Pimenta has said. Pimeta expects the numbers to grow after the recent appointment of Mary Porter…
- NAIROBI, Kenya, Sep 29 – The Government of the United States of America (USA) has announced a budget of Sh2.92 billion ($19.7 million) to support Kenya’s cooperative sector. It targets five investment areas and will be provided by the United States Agency for International Development (USAID) for…
- NAIROBI, Kenya, Sep 29 – Unilever Kenya, in partnership with the SME Support Center, has graduated the first cohort of Unilever’s Emerge Accelerator Programme. The program, which brought onboard businesses with at least 51 percent shareholding of women and persons that are abled differently, saw…
- WASHINGTON — The International Monetary Fund (IMF) stated on Thursday that it maintains its expectation that China will achieve its growth target of approximately 5 percent in 2023. “On China, what we have seen recently is a slowdown in the economy since the first quarter. However, the very recent…
- NAIROBI, Kenya, Sep 29 – Firms and individuals will access deaf interpretation services through the MPesa App following a deal with Safaricom and Sign Media. Under the assistALL mini DPP platform, which provides sign language interpretation services, the telco said that the pact seeks to bridge the…
- SHENZHEN, Sept. 28 (Xinhua) — The Chinese market has shown a growing preference for Turkish home appliances in recent years. “Turkish products such as electric coffee pots, ovens, stoves and grills are gaining significant popularity among Chinese consumers, especially in recent years when the trade…
- TIANJIN, Sept. 28 (Xinhua) — Airbus on Thursday broke ground on its second final assembly line in north China’s Tianjin Municipality as the European aircraft manufacturer seeks expansion on the Chinese market. The groundbreaking marks another milestone after Airbus signed an agreement on the…
- KISUMU, Kenya, Sep 29 – Kenyans in the diaspora from Western Kenya are set to build a Sh1 billion housing units in the lakeside city of Kisumu to contribute to the growth and development of the country. Wema Magharibi Limited, a company incorporated in 2020 by Kenyans living in the diaspora is set…
- DHAKA, Sept. 28 (Xinhua) — A Chinese firm will build a solar power plant in Bangladesh, a Bangladeshi cabinet meeting approved the proposal on Wednesday. The plant would be a joint venture with China’s Fujian Yongfu Power Engineering Company Ltd. The joint venture will construct a 70 MW plant in…
- NAIROBI, Kenya, Sep 28 – Moja, a unified communication platform that enables local businesses to sell and serve clients across multiple social media platforms has been launched in Kenya by Beem, a leading enterprise technology company. Beem’s flagship product, Moja, aims to revolutionize the way…
