Kenya’s foreign exchange reserves recorded a significant boost, rising by $154 million to reach $7.503 billion as of 5th September 2024. This increase, according to data released last week, brought the country’s import cover to 3.9 months, slightly up from the 3.8 months reported the previous week when the reserves stood at $7.349 billion. This […]
In a move that brings some relief to borrowers, Equity Bank has announced a reduction in its reference rate to 17.83%, effective from 9th September 2024. This change follows last month’s adjustment of the Central Bank Rate (CBR) by the Central Bank of Kenya (CBK), which saw the rate decrease from 13% to 12.75%, a […]
The Eurobond market has been a barometer for Kenya’s economic sentiment on the global stage, and this past week, the readings have signalled a noticeable shift. The yields on Kenya’s Eurobonds have experienced significant increases, marking a week of substantial volatility and raising concerns among investors about the underlying factors driving these movements. This week, […]
In a bid to enhance transparency and bolster investor confidence in the Kenyan capital markets, the Nairobi Securities Exchange (NSE) along with the Capital Markets Authority (CMA) has introduced a new directive for all listed companies. Effective immediately, these entities are required to develop and publicly share forward-looking calendars that detail all upcoming corporate events […]
In a significant legal development, the High Court of Kenya has granted the Law Society of Kenya (LSK) and the Kenya Human Rights Commission (KHRC) leave to file a judicial review challenging the Kenya Airport Authority’s (KAA) decision to lease Jomo Kenyatta International Airport (JKIA) to Adani Group for a period of 30 years. This […]
In an exciting development for Africa’s creative industry, four exceptional screenwriters from the continent have been chosen for the 2024/25 AuthenticA Series Lab, a prestigious program that aims to propel their television series ideas onto the global stage. The program, spearheaded by the South African-based Realness Institute, received over 160 applications from 27 countries, with […]
In a major crackdown on illegal trade, customs officers at the Malaba One Stop Border Post (OSBP) intercepted a significant drug shipment and smuggled ethanol in two separate operations on 8th September 2024. The Kenya Revenue Authority (KRA) continues to intensify its efforts to combat smuggling and illicit trade at key border points across the […]
Sarova Hotels & Resorts, Kenya’s leading indigenous hospitality brand, marked its 50th anniversary with a grand celebration attended by key industry players, partners, and dignitaries. The event, held at Sarova Panafric Hotel, was graced by Cabinet Secretary for Tourism and Wildlife, Hon. Rebecca Miano, who praised Sarova for its pivotal role in boosting the country’s […]
The Fortified Whole Grain Alliance (FWGA) has launched an ambitious initiative to tackle malnutrition across Africa, aiming to reach 10 million people in seven countries, including Kenya, by 2025. The announcement was made at the 2024 Africa Food Systems Conference Summit, hosted by the Government of Rwanda, where the FWGA unveiled plans to increase access […]
As Africa’s labor market undergoes significant changes, organizations are being urged to adopt new strategies to attract and retain talent. Speaking at the Regional HR Summit, Raymond Muthama, Chief People and Culture Officer at Zamara, emphasized the need for companies to prioritize meaningful employee engagement in order to retain talent in an increasingly competitive environment. […]
