- NAIROBI, Kenya, Aug 2 – President William Ruto has said the country’s education system will undergo immediate changes. This follows Tuesday’s launch of the report of the Presidential Working Party on Education Reform at State House in Nairobi. He said the new system will inculcate innovation and…
- NAIROBI, Kenya, Aug 2 – An estimated 60 percent of rural and urban Kenyan households access their daily meals from micro/small enterprises (MSEs) at local markets. But despite MSEs significant contribution in shaping food access and consumption, these enterprises have received little policy…
- LONDON, United Kingdom, Aug 1 – Alcoholic drinks giant Diageo, maker of Guinness stout, Smirnoff vodka and Johnnie Walker whisky, said Tuesday that its annual net profit increased 15 percent as higher prices offset falling sales. Faced with higher costs for raw materials, wages and other items as…
- NAIROBI, Kenya, Aug 1 – Standard Chartered Bank today introduced a new platform that seeks to support women-led enterprises. Dubbed ‘SC Women International Network (SC-WIN)’, the project is in partnership with Safaricom, Mastercard, and KEPSA. SC-WIN seeks to uplift their businesses by offering an…
- NAIROBI, Kenya, Aug 1 – Ride-hailing company Uber is planning to introduce an audio recording safety feature on the app to protect drivers and customers in case of safety incidents. The new opt-in audio recording feature has already been rolled out in Nigeria, South Africa, and the USA, where it…
- KIRKWALL, United Kingdom, Aug 1 – Mail on the Scottish isles of Orkney will be delivered by drones starting Tuesday, the first regular postal service by the aerial devices in the UK. Letters and packages will be transported from Royal Mail’s Kirkwall delivery office to Stromness, where the drone…
- Unveiling the brand in a colorful event that took place at Nairobi's Radisson Blu on Tuesday, Craft Silicon said Spotit's revolutionary technology will empower eligible bank customers with seamless access to produce financing directly from their mobile apps.
- NAIROBI, Kenya, Aug 1 – Bank of Africa (BOA) has entered into an agreement with Deluxe Truck and Buses E.A. to finance the acquisition of trucks and buses by small, medium, and large businesses. In the deal, buyers will access up to 90 percent financing on Ashok Leyland trucks and buses with an…
- NAIROBI, Kenya, Aug 1 – The Kenya Private Sector Alliance (KEPSA) has urged the County Government of Mombasa to work with the private sector to increase investments in social entrepreneurship. This was said during an Intergenerational Forum held in Mombasa on Monday that was funded by the French…
- FRANKFURT, Germany, Aug 1 – German automaker BMW on Tuesday lifted its 2023 earnings forecast on the back of strong orders and improved availability of its premium models. The group said it now expected a pre-tax profit margin (EBIT) of 9 to 10.5 percent, compared with 8-10 percent previously. Car…
- NAIROBI, Kenya, Aug 1 – President William Ruto has said he will protect public resources with zeal. He noted that it will not be business as usual to public servants with affinity to abuse public resources. The Head of State regretted that it has become fashionable for some people to work in public…
- NAIROBI, Kenya, Aug 1 – Tertiary colleges students will now be able to launch innovation prototypes into the market via partnerships with select companies through ITATU. The open-source platform, which is also in partnership with the government, creates nationwide opportunities for local companies…
- LONDON, United Kingdom, Aug 1 – British energy giant BP on Tuesday announced a drop in second-quarter net profit as oil and gas prices retreated from peaks reached a year earlier following Russia’s invasion of Ukraine. Profit after tax plunged to $1.8 billion in the three months to the end of June…
- SAN FRANCISCO, United States, Aug 1 – The company formerly known as Twitter removed a towering, blinking X from atop its San Francisco headquarters Monday after the rebranded tech firm tangled with city officials over the controversial sign. The X, installed on the roof of the company’s downtown…
- TOKYO, Japan, Aug 1 – Japan’s Toyota said on Tuesday that net profit in its first quarter surged 78 percent as global production rebounded after severe supply disruptions a year ago. The world’s biggest automaker by sales said net profit in the three months to June was 1.31 trillion yen ($9.1…
- COLOMBO, Sri Lanka, July 31 – Crisis-hit Sri Lanka’s inflation moderated to 6.3 percent in July, official figures showed Monday, its lowest rate in nearly two years. The island’s worst-ever economic turmoil saw widespread shortages and the ouster of its president, with inflation peaking at 69.8…
- NAIROBI, Kenya, July 31 – Kenya’s month-on-month inflation in July dropped by 0.6 percent to 7.3 percent, new data shows, amid dropping prices of some food items. Data from the Kenya National Bureau of Statistics (KNBS) shows that it fell from 7.9 percent in June. Between June and July, the KNBS…
- NAIROBI, Kenya, July 31 – Directline Assurance Company has been awarded the best insurance company in technology and innovation. They also received eight other accolades during the Think Business Awards 2023 held on Friday evening in Nairobi. The event recognize and praise the unwavering efforts of…
- GENEVA, Switzerland, July 31 – Only four countries — Brazil, Mauritius, the Netherlands and Turkey — have adopted all the anti-tobacco measures recommended in the fight against the “deadly scourge” of smoking, the World Health Organization said Monday. In a fresh report, the UN health agency urged…
- NAIROBI, Kenya, July 31 – Kenya is set to host the first-ever Business Ecosystems Summit (BES) in Kisumu City on September 1st, 2023. This is part of the government’s reforms to stimulate business growth across the country, bolstering economic independence and prosperity. Organized by the IMC…
- NAIROBI, Kenya, July 31 – Laboratory firm Lancet has expanded to two new towns as it seeks to reach more Kenyans. While Nanyuki’s branch will be located at the Nanyuki Mall, Kilifi’s will be hosted at the Baobab Plaza. The expansions come after similar expansions in Nairobi’s South C as well as…
- MACHAKOS, Kenya, Jul 31 — Sidian Bank, a leading mid-tier bank in Kenya, is pleased to announce the relocation of its Machakos Branch as part of its ongoing efforts to solidify its brand presence and achieve its expansion strategy. The new branch location is set to further enhance the bank’s…
- LONDON, United Kingdom, July 31 – Manchester United said it had signed a new 10-year deal with German sportswear giant Adidas on Monday, worth a minimum £900 million ($1.15 billion) according to the BBC. The two have been partners since the 2015/16 season, reuniting after a 23-year hiatus, and both…
- NAIROBI, Kenya, July 31 – Acorn Investment Management Limited (AIML) has posted Sh283 million for the first half of the year ending June 30th, 2023. The profit was realized from its Acorn Student Accommodation Income REIT (I-REIT) and Acorn Student Accommodation Income Development REIT (D-REIT). “…
- THE HAGUE, Netherlands, July 31 – Dutch brewer Heineken said Monday that price increases it made to counter the impact of soaring inflation had battered beer sales and pushed down profits in the first half of the year. Net profit slumped 8.6 percent to 589 million euros ($649 million), as beer…
- NAIROBI, Kenya, July 31 – In Kenya, the Automotive industry is facing new challenges due to the introduction of various taxes. As a result, aspiring car owners are finding it difficult to fulfill their dreams of having a vehicle. However, amidst these financial constraints, there is a promising…
- NAIROBI, Kenya, July 31 – The Postal Corporation of Kenya (PCK) generated Sh200 million in the financial year ending last month from passport deliveries. In 2020, PCK announced that it would start distributing about 50,000 passports amid a backlog of cases at the Immigration Department. In the deal…
- NAIROBI, Kenya, July 31 – About a half or 50 percent of Government services have been fully digitized, the Ministry of Information, Communication and Technology said. In its latest one-year performance scorecard, the Ministry announced that a total of 5, 084 services have been fully digitized out…
- BEIJING, China, July 31 – China’s factory activity contracted for the fourth straight month in July, data showed Monday, as authorities released new measures aimed at boosting the world’s second-largest economy. The official manufacturing purchasing managers’ index (PMI) — a key measure of factory…
- KANO, Nigeria, July 31 – Authorities in Nigeria’s northeastern Adamawa state on Sunday imposed a statewide round-the-clock curfew to stop widespread looting of food stores in the state capital Yola. The looting saw hundreds of residents break into public and private warehouses storing grains and…
- NAIROBI, Kenya, July 31 – The Government will make the port of Mombasa more efficient. Working with partners, President William Ruto said, the Government is keen on transforming the port to be globally competitive. He said reforms at the port are crucial for the country’s prosperity. “The…
- WASHINGTON, United States, July 30 – X, the social media platform previously known as Twitter, has reinstated rapper and designer Kanye West around eight months after his account was suspended, the Wall Street Journal reported on Saturday. Last fall, West posted an image that appeared to show a…
- BEIJING, China, France 30 – France’s finance minister said during a visit to Beijing on Sunday that cutting all economic ties with China was “an illusion”, as some Western countries question their reliance on the Asian giant. “We are totally opposed to the idea of decoupling. Decoupling is an…
- NAIROBI, Kenya, July 30 – CFAO Motors has begun assembling Toyota Fortuners at the Associated Vehicle Assemblers (AVA) in Mombasa County. The motor dealer has also pumped Sh120 million into AVA for tech upgrades and training. President William Ruto commissioned the plant, which will employ 100…
- COLOMBO, Sri Lanka, July 29 – Japan pressed bankrupt Sri Lanka on Saturday to expedite its debt restructuring, including with its biggest creditor China, to stabilise the island nation’s economy after an unprecedented crisis. Tokyo’s foreign minister Yoshimasa Hayashi welcomed economic reforms…
- NAIROBI, Kenya, July 29 – Kenyans have been cautioned against using WorldCoin by the Office of the Data Protection Commissioner (ODPC) amid concerns about crucial data collection. The ODPC says that the digital identification firm is processing sensitive personal data and thus needs to be compliant…
- NAIROBI, Kenya, July 29 – Safaricom will be reviewing new prices for calls, SMS, data, fibre, and MPesa after the Court of Appeal on Friday lifted a suspension on the Finance Act of 2023 that was placed by the High Court. The telco says that its new rates conform to the Court ruling. “We will […]
- BRUSSELS, Belgium, July 29 – A strike by Ryanair pilots in Belgium in an ongoing dispute over working conditions has cancelled 96 flights to and from Charleroi this weekend, the airport said, in the midst of the busy summer travel season. The industrial action will affect 17,000 passengers due to…
- LONDON, United Kingdom, July 29 – Rail workers in Britain held their latest strike over pay and conditions on Saturday, as more than a year of walkouts on the country’s train network grinds on. Members of the Rail, Maritime and Transport (RMT) union working for train operating companies staged the…
- NAIROBI, Kenya, July 29 – Sakwa Bunyasi has officially taken over as Chairman of the Kenya Development Corporation (KDC) Board. Bunyasi said he will work with the board to ensure the organisation achieves its mandates. “I am deeply honoured to assume the role of the Chairman of the Board at KDC, I…
- WASHINGTON, United States, July 28 – Argentina is set to receive a much-needed disbursement of funds from the IMF, the lender said Friday, with a fresh staff-level agreement paving the way for access to $7.5 billion. The aim is to “support Argentina’s policy efforts and near-term balance of…
- NAIROBI, Kenya, July 28 – The Kenyan and Ugandan governments are looking for financiers for the Naivasha-Kisumu-Malaba-Kampala Standard Gauge Railway (SGR) project that has stalled due to a lack of funds. The two states agree on the need to begin work in tandem for the maximum benefit of the…
- By Simon Wafubwa NAIROBI, Kenya, July 28 – The Kenya Demographic Health Survey 2022 released by Kenya last week revealed some interesting facts that have a significant bearing on the future of Kenya’s retirement industry. The survey released by the Kenya National Bureau of Statistics and Ministry…
- BERLIN, Germany, July 28 – German inflation slowed in July after rising in June, official data showed Friday, but remained at levels that could trouble policymakers at the European Central Bank as they battle stubbornly high prices. The annual inflation rate in Europe’s largest economy fell to 6.2…
- NAIROBI, Kenya, July 28 – Safaricom shareholders have approved two new subsidiaries that will empower and invest in Kenya’s tech startups. The Spark Fund, which was okayed at Safaricom’s 15th Annual General Meeting (AGM), supports startups in the seed and growth stages. The investment vehicle will…
- NAIROBI, Kenya, July 28 – A Kenyan court on Friday lifted the suspension of controversial tax hikes that have sparked opposition protests, allowing the government to raise levies until a final ruling is issued. President William Ruto last month signed into law a finance bill expected to generate…
- NAIROBI, Kenya, July 28 – Musoni Microfinance has extended loan compensation of Sh1.2 million to 12 borrowers who were affected by the recent fire incident at Toi Market in Nairobi. The loan compensations are claim payouts from the embedded credit-linked insurance that Musoni includes in all its…
- NAIROBI, Kenya, July 28 – The Bank of Kigali will lend Sh17.9 billion worth of loans to farmers and businesses across the agricultural value chain. A portion of the funding will be provided at a concessionary interest rate of as low as 8 percent per annum, which is less than half of the average…
- NAIROBI, Kenya, July 28 – Tatu City and emergency health service provider AAR have partnered to offer emergency health services to residents of Tatu City. AAR will now offer onsite ambulance services on a 24-hour basis to Tatu residents, businesses, and visitors. “The safety and well-being of our…
- LONDON, United Kingdom, July 28 – The yen fluctuated Friday after Japan’s central bank tweaked its ultra-loose monetary policy, while stocks markets traded mixed after forecast-beating US data revived concerns the Federal Reserve could hike interest rates further. After a closely-watched meeting,…