- NAIROBI, Kenya, Mar 29 – Britam has recorded a 65 percent jump in profit before tax to Sh4. billion for the year ended 2023 from Sh2.92 billion in the same period in the preceding year. Similarly, its revenue increased to Sh36.4 billion, up from Sh25.8, an increase of 41 percent. The insurer…
- BEIJING – Chinese tech firm Xiaomi on Thursday night released its first self-developed new energy vehicle model SU7. Three versions of the model — SU7, SU7 Pro and SU7 Max — will enter the market, with the prices ranging from 215,900 yuan ($30,431) to 299,900 yuan. Designed with a minimum range of…
- NAIROBI, Kenya, Mar 29 – Food waste across the globe continues to fuel climate change, nature loss and pollution while hurting the global economy, a report by the United Nations has revealed. The UNEP Food Waste Index Report 2024 which was launched on Wednesday said that it is important for…
- NAIROBI, March 28 (Xinhua) — Kenya on Thursday launched the national research repository for all research output undertaken in the country. Beatrice Inyangala, principal secretary in the Ministry of Education, told journalists in Nairobi, the capital of Kenya, that the database consists of an open-…
- TOKYO, March 29 (Xinhua) — The unemployment rate in Japan increased in February from a month earlier, the government said in a report on Friday. According to the Ministry of Internal Affairs and Communications, the jobless rate stood at 2.6 percent, up from 2.4 percent a month earlier. Separately,…
- NAIROBI, Kenya, Mar 28 – BURN Manufacturing (BURN), a carbon project developer, has announced the completion of a follow-on carbon project investment from Key Carbon Limited (KC), formerly Carbon Neutral Royalty (CNR). The clean cookstove manufacturer distributor investment is funded by Cartesian…
- LONDON, March 28 (Xinhua) — The gross domestic product (GDP) of the United Kingdom (UK) fell by an unrevised 0.3 percent in the last quarter of 2023, data from the Office for National Statistics (ONS) showed on Thursday. It’s the second consecutive quarter that the economy witnessed negative growth…
- NAIROBI, Kenya, Mar 28 – A total of 28 insurance companies dominate the list of abuse of buyer power cases in Kenya, the latest Competition Authority of Kenya (CAK) report shows. According to the annual CAK data for the 2022–23 financial year, the insurance sector represented 59.6 percent of all…
- NAIROBI, Kenya, Mar 28 – Skyward Express on Thursday unveiled its first direct flights from Jomo Kenyatta International Airport (JKIA) to Moi International Airport, Mombasa. The carrier, which normally operates from Wilson Airport on various routes, will be flying to the coastal town twice a day. “…
- NAIROBI, Kenya, Mar 28 – Asset finance solutions provider Watu Credit has welcomed the publication of the draft national e-Mobility Policy. The company has committed to spending Sh1.3 billion for the transition of fossil-powered motorbike financing to e-bikes in the next seven years. Watu says that…
- NAIROBI, Kenya, Mar 28 – The climate crusader Pan Africa Climate Justice Alliance (PACJA) has faulted the United Nations’ Santiago Network on Loss and Damage (SNLD) Advisory Board over its decision to hold the host secretariat in Geneva instead of Nairobi. The lobby group asserts that Nairobi…
- NAIROBI, Kenya, Mar 28 – Most Kenyans have become travel savvy post COVID-19 resulting in a lot of research and early bookings for both domestic and international holiday travels. The number of travel bookings has since increased by 25% compared to pre-pandemic times over the last three years.…
- NAIROBI, Kenya, Mar 28 – The Ministry of Investments, Trade, and Industrialization (MITI has moved quickly to address the recent tax concerns raised by investors, announcing a raft of measures to unlock the current stalemate. In a meeting chaired by Deputy President Rigathi Gachagua at his Karen…
- NAIROBI, Kenya, Mar 28 – The Forty Under 40 Africa Award, organized by Richard Abbey Jr., will over the weekend recognize young business leaders in Nairobi. The Pan-African Award honors individuals under 40 who excel in their fields and contribute to their communities. It seeks to highlight…
- NAIROBI, Kenya, Mar 28 – Kenya Power today unveiled a power backup plan that will ensure uninterrupted electricity supplies across the country in case of a blackout. The National Control Centre, domiciled on the coast, will provide an alternative power dispatch point in the event of the main…
- By Joseph M. Kamau NAIROBI, Kenya, Mar 28 – As the sixth session of the United Nations Environment Assembly (UNEA-6) concludes in Nairobi, Kenya this March, the urgent need for effective, inclusive, and sustainable multilateral actions to tackle climate change, biodiversity loss, and pollution…
- NAIROBI, Kenya, Mar 27 – Hungary looks to open its doors to Kenyan students by adding two universities for applications. The two institutions, which include the University of Sopron and the University of Miskolc, add to existing higher learning institutions such as the University of Debrecen.…
- HARARE, March 28 (Xinhua) — Zimbabwe’s annual inflation rose to a seven-month peak of 55.3 percent in March from 47.6 percent in the previous month, according to data released by the National Statistics Agency (ZimStat) on Wednesday. The upward trend in annual inflation comes amid continued…
- NAIROBI, Kenya, Mar 28 – Student hostel developer Acorn has more than doubled the dividend to be paid to investors to Sh480 million in the full year ending December last year. The payout, which grew from Sh192 million during a similar period in 2022, expanded despite a profit decline to Sh765…
- NAIROBI, Kenya, Mar 28 – The global peace crusader Search for Common Ground (SCM) has said that it will strengthen partnerships with Meta and X platforms to entrench the peace process in the country. The lobby group says the deal is a good way to ensure that more people are reached, creating…
- NAIROBI, March 27 (Xinhua) — Kenya is keen to expand market access for its agricultural products, and boost foreign exchange earnings and economic growth, senior officials said Wednesday at a forum in Nairobi, the Kenyan capital. Musalia Mudavadi, prime cabinet secretary and cabinet secretary for…
- SYDNEY, March 28 (Xinhua) — Many young Australians and low-income households are spending up to one-quarter of their net income on groceries, according to a survey conducted by the country’s consumer and competition watchdog. The Australian Competition and Consumer Commission (ACCC) revealed on…
- NAIROBI, Kenya, Mar 28 – Access Bank has increased the cost of borrowing loans after increasing the interest rate to 20 percent. The lender says that it had to hike the rate in response to the tough prevailing economic conditions. In a public notice, the Nigerian-based bank began implementing the…
- MEXICO CITY, March 27 (Xinhua) — Mexico’s economic growth could moderately slow down in 2025 due to reduced expansion in the United States and normalization in some subsectors in the service industry after the COVID-19 pandemic, the Finance Ministry said Wednesday. Mexico’s GDP is projected to grow…
- NAIROBI, March 27 (Xinhua) — Kenya on Wednesday launched a digital campaign aimed at promoting the country as a global destination for tourism and investment. John Tanui, principal secretary in the Ministry of Information, Communications and the Digital Economy, said the campaign leverages the…
- NAIROBI, March 27 (Xinhua) — Kenya’s exports reached 1 trillion shillings (about 7.6 billion U.S. dollars) in 2023, up from the 5.95 billion dollars recorded in 2022, a government official said on Wednesday. The weakening of the Kenyan shilling last year made the country’s products competitive in…
- ADDIS ABABA, March 27 (Xinhua) — The number of internet users in Ethiopia has surpassed 41 million amid a rapidly growing number of mobile service subscribers, the country’s state-run telecom firm has said. Ethio-Telecom’s Chief Executive Officer Frehiwot Tamiru while addressing a meeting on the…
- BANGKOK, March 27 (Xinhua) — Thailand exported 2.5 million tons of rice in the first quarter of 2024, an increase of about 500,000 tons from a year earlier, government spokesperson Chai Wacharonke said on Wednesday. The Southeast Asian country’s rice shipments may reach 8 million tons in 2024,…
- NAIROBI, Kenya, Mar 27 – Harambee Sacco plans to raise Sh4 billion within two years after rolling out its share capital drive today. Its National Chairman, Macloud Malonza, said that the campaign will improve the Sacco’s liquidity as well help it expand. The funds raised, he added, will help the…
- NAIROBI, Kenya, Mar 27 – The government has signed a memorandum of understanding (MoU) with the Netherlands to develop a cool-logistics corridor that is set to boost Kenya’s horticultural exports. The MoU was signed by Transport Cabinet Secretary Kipchumba Murkomen and the Dutch Ambassador to Kenya…
- NAIROBI, Kenya, Mar 27 – Equity Group Holdings has reported a decline in net profit despite proposing a record dividend of Sh15.1 billion for the second consecutive year. The decline in profit after tax is attributed to various factors, primarily an increase in interest expenses outpacing the…
- NAIROBI, Kenya, Mar 27 – Casual dining restaurant, Java House, and the United Nations World Food Programme (WFP) have signed an agreement to raise funds to support vulnerable children with daily school meals. Every day, children in Kenya go to school on an empty stomach, which impacts their…
- NAIROBI, Kenya, Mar 27 – Tatu City unveiled Tatu Woodworks, a joinery company specializing in European-standard services, aiming to provide turnkey solutions for homeowners, developers, architects, and interior designers. With modern machinery and expertise, Tatu Woodworks will initially fabricate…
- NAIROBI, Kenya, Mar 27 – Old Mutual Holdings Plc has jumped back to profitability after recording a gross profit of Sh1.4 billion in the full year ending last year. During a similar period in 2022, the group posted a loss of Sh491 million. Profitability came on the back of a 129 percent to Sh3.8…
- HARARE, March 26 (Xinhua) — Zimbabwe plans to grow 120,000 hectares of wheat during the 2024 winter crop production season, up from 90,912 hectares in 2023, a cabinet minister said on Tuesday. The government has also approved an incentive planning price of 440 U.S. dollars per ton of wheat, and a…
- NAIROBI, Kenya, July 27 – Family Bank Group profit after tax in the full year ending December last year grew by 13.3 percent to Sh2.5 billion on the back of increased interest and non-interest incomes. Net profit improved by Sh300 million from Sh2.2 billion that was earned during a similar period…
- NAIROBI, Kenya, Mr 27 – German-based cleaning technology manufacturer Karcher has announced an investment of about Sh427.05 million (€3 million) into the Kenyan market. The fund will be used to set up a full subsidiary in the country, including the establishment of a regional distribution center at…
- NAIROBI, Kenya, Mar 27 – American data storage hardware and software products company Pure Storage has joined hands with Tech Fist Gulf (TFG) to roll out its services in Kenya. The firm says that its entry into the country aligns with its ambition to offer alternative data storage solutions on the…
- BALTIMORE, the United States, March 26 (Xinhua) — Maryland officials said on Tuesday that two people have been rescued while six others are still unaccounted for following the collapse of Francis Scott Key Bridge in Baltimore. Maryland Transportation Secretary Paul Wiedefeld told reporters at a…
- NAIROBI, Kenya, Mar 27 – NCBA Group has recommended a final dividend payout of Sh4.75 per share in the full year ending December 2023, as profit after tax grows by 56 percent to Sh21.5 billion. In its latest financial statement, the bank’s profit improved from Sh13.8 billion during a similar period…
- NAIROBI, Kenya, Mar 27 – As the world marks International Whiskey Day, whiskey enthusiasts around the globe raise their glasses in celebration of the global fete. This occasion pays homage to the rich heritage, craftsmanship, and cultural significance of this spirit. whiskey holds a special place…
- ABUJA, March 26 (Xinhua) — Nigeria’s central bank on Tuesday further raised the monetary policy rate by 200 basis points to 24.75 percent amid rising inflation in the most populous African country. The move, made barely one month after it raised the interest rate to 22.75 percent, was in…
- ROME, March 26 (Xinhua) — U.S. electric vehicle maker Tesla is in talks with the Italian government to open a production facility in the country, Italian media reported Tuesday. Tesla has been engaged in talks with the Ministry of Enterprises and Made in Italy for several months, with the plan to…
- NAIROBI, March 26 (Xinhua) — Climate change experts began a two-day meeting in Nairobi, the capital of Kenya, Tuesday to promote carbon markets in Africa. The Carbon Markets Conference 2024 brought together more than 200 participants, including government officials, financiers and project…
- NAIROBI, Kenya, Mar 26 – Kenya Airways (KQ) cut net loss by 40.73 percent to Sh22.7 billion in the full year ending December last year on improved operating costs. The national carrier’s latest financial result shows that its net loss fell from Sh38.3 billion that was recorded during a similar…
- SAN FRANCISCO, March 25 (Xinhua) — Boeing President and CEO Dave Calhoun on Monday announced his decision to step down at the end of the year amid the planemaker’s exacerbated safety crisis. SAFETY CRISIS Boeing has grappled with significant quality and safety issues concerning its aircraft for…
- NAIROBI, Kenya, Mar 26 – Kenya’s electric bus manufacturer, BasiGo, has secured Sh397.05 million ($3 million) from Toyota’s parent company, CFAO Group. The investment is split between CFAO Kenya and Mobility54, the corporate venture capital arm of CFAO. BasiGo says that it will use the fund to…
- ACCRA, March 26 (Xinhua) — The government of Ghana has launched a project to distribute 1.3 million free computer tablets to high school students to accelerate digital literacy in the country. Launching the Ghana Smart Schools Project Monday, Ghanaian President Nana Addo Dankwa Akufo-Addo said the…
- NAIROBI, Kenya, Mar 26 – Air travel can be one of life’s true joys. In the decades since the Boeing “Jumbo” 747 made it feasible for even ordinary folk to affordably travel the world, many millions have been able to do so. We now think little of sitting inside a pressurised metal tube and whizzing…
- NAIROBI, Kenya Mar 26 – The Kenya Bureau of Standards (KEBS) is keen on upholding quality and safety standards for agricultural products amid safety concerns. KEBS says that it has intensified efforts to ensure that only certified, top-quality fertilizers are available for agricultural use on the…