Kenya: Latest News

  • Gas Prices Rise: Kenyans Ready For Fuel Hike

    By Ann Brown, 4:00 pm

    From East African Business Week Kenyans are bracing for another hike in fuel prices following the decision by the government to slap a new tax levy on all imported goods. The hiked prices could come into force as early as next month during the monthly fuel review by the national regulator, Energy Regulatory Authority (ERC). […]

  • Infrastructure Will Boost Kenya’s Economic Growth, Experts

    By Ann Brown, 4:00 pm

    From Capital FM Kenya’s economy is set to expand rapidly if the proposed infrastructure expansion by the Jubilee government is implemented, the chairman of African Cotton and Textile Industries Federation (ACTIF) Jaswinder Bedi says. Speaking to Capital FM News, Bedi said with good infrastructure in the country, the cost of production will decrease, translating to […]

  • New Pan African University To Focus On Tech, Innovation, Science

    By Dana Sanchez, 4:54 pm

    African Development Bank has approved a $45 million grant to support the creation of the Pan African University, according to a report in EngineeringNews. The university will consist of five themed institutes located in East, West, Central, North and Southern Africa. Programs will include basic sciences, technology and innovation (Kenya); earth and life sciences including […]

  • U.S.-based Citigroup, Other Banks Expanding In Africa

    By Dana Sanchez, 11:49 am

    When Citigroup Inc. CEO Michael Corbat said in March the lender may exit or scale back business in 21 countries, he wasn’t talking about Africa, according to a Bloomberg report in IndependentOnline. Anticipating increased sales in Africa this year, the U.S.-based lender is hiring staff there, particularly for its custody and clearing operations. It plans to transform its […]

  • Singapore Sends $1.97M In Illegal Ivory Back To Kenya

    By Dana Sanchez, 10:45 am

    Tens of thousands of elephants have been killed for their tusks in recent years in Africa, where the revenues from poached ivory are thought to be fueling conflicts across the continent, the New York Times reports.

  • Citibank Latches Onto Economic Promise, Looks to Grow Revenue in Africa

    By Makula Dunbar, 9:59 am

    As increased trade, urbanization and digitization grows in Africa, banks look for avenues to increase capital. Citibank, the U.S.’s third largest bank, in regards to assets, is no exception. Business Day Live reports the group is expecting to increase revenue across the continent.

  • Trash To Treasure: Sawdust Is Alternate Fuel Source In Africa

    By Isaac Mwangi, 11:24 am

    With the rising cost of fuel, Kenyans are learning to face the harsh economic realities with smart innovations. Some have turned to sawdust as an alternate fuel source. Obtained from timber millers and dealers, the sawdust is either given away free or sold for fuel. Deforestation and desertification are serious issues in Kenya. The environmental impact […]

  • Nigerian Lawmakers Out-earn Those In Developed Nations

    By Dana Sanchez, 2:56 pm

    Nigerian senators and members of the country’s House of Representatives earn higher salaries than most of their counterparts in 28 other countries – many of them wealthier and more developed – according to an analysis by the Economist magazine, All Africa reports. A Nigerian legislator earns about $189,000 a year – 116 times Nigeria’s per capita income, […]

  • Bandeka: Africa’s Professional Dating Site Gains Momentum

    By Makula Dunbar, 11:05 am

    An online invite-only professional dating network created by Yaw Boateng and Tunde Kehinde is gaining attention even though new weekly sign-ups have slowed. During the first months of Bandeka’s launch, 80-100 users were creating profiles per week. Now, in regards to numbers, Boateng says Bandeka has reached a comfortable peak.

  • Report: Africa Is Unique Niche For Mobile Phone Banking

    By Dana Sanchez, 9:53 am

    Low financial services penetration and exponential growth of mobile phone use, particularly in Sub-Saharan Africa, are creating a unique niche for mobile phone banking to develop on the continent, according to a report in GhanaBusinessNews. Kenya and South Africa are at the forefront of mobile banking. Just 20 percent of African families have bank accounts […]

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