Business

Kenya’s forex reserves plunge by 254 mln USD on loan repayment

Kenya’s foreign exchange reserves have declined by 27.8 billion shillings (about 254 million U.S. dollars) since the start of March, pulled down by external loan repayments. The forex reserves fell from 7.605 billion dollars at the end of February to 7.351 billion dollars on March 11, the Central Bank of Kenya (CBK) said in its

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Russia seeks Arab support in reviving Iran nuclear deal

By Elena Teslova Russian foreign minister visits UAE, Saudi Arabia, Qatar From March 8 – 12, Russian Foreign Minister Sergey Lavrov toured the United Arab Emirates (UAE), Saudi Arabia and Qatar to discuss regional and international issues. The tour began with the UAE, where Lavrov met the Crown Prince and de facto ruler Mohammed bin

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Digital Transformation in Africa to Boost Economic Growth

Photo: Credit Adeolu Eletu on Unsplash Other ingenious avenues to pave the way for digital transformation in Africa. In the Age of Information, technology plays a vital role in how any society thrives. It also presents its own challenges, and a call for adaptation to rise above such obstacles. Like other countries around the world,

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UK trade with EU plunges after Brexit, hurting economy

File – In this file photo dated Thursday, Dec. 31, 2020, lorries pass a checkpoint to embark by ferry to Europe, at the port in Dover, England. Britain’s Office for National Statistics said Friday March 12, 2021, that the British economy shrank in January as the nation was hit by a new round of coronavirus

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Kenya eyes Sh10bn World Bank loan for Covid vaccines

Kenya has returned to the World Bank for a Sh10 billion loan to help purchase Covid-19 vaccines following a financing shortfall that threatens the country’s inoculation plan against the infectious virus. The money will buy 11 million doses of the Oxford-AstraZeneca jab that will be used to vaccinate five million persons. The Treasury failed to

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Tanzania to Charge WhatsApp Calls Due to Declining Revenue from International Calls

By Vanessa Murrey The Tanzanian government is developing a framework to enable it charge WhatsApp calls as the country grapples with declining revenue from international calls. The emergence of messaging apps like WhatsApp have given users alternatives for making international calls free of charge or at a very low rates. As a result, the telecommunications

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John Lewis to close more stores as Covid crisis wipes out profits

John Lewis says the shift to online shopping, restructuring plans, redundancies, store closures and cost of Covid crisis turbo-charged loss Photograph: David Lyons/Alamy By Sarah Butler Department store group records £517m loss and does not expect to reopen all stores in April when retail lockdown ends John Lewis Partnership has warned it will not be

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Kenya YouTubers to start paying 24pc tax to US

Credit AFP YouTube will deduct up to 24 per cent tax for content creators outside the United States. Kenyan digital content creators with YouTube channels will start paying taxes to the United States government starting June this year. In a statement sent to all YouTube content generators, parent firm Google said all creators outside the

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President Farmajo receives credentials from new UK Ambassador Kate Foster

Photo/Somali Times The President of the Federal Republic of Somalia, Mohamed Abdullahi Farmajo, has accepted the credentials of the new Ambassador of the United Kingdom to Somalia, Kate Foster. Ambassador Kate Foster conveyed the President’s greetings and message from Queen Elizabeth II, thanked her for the warm welcome and expressed her commitment to strengthening the

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New UK Ambassador in Somalia received a warm welcome

Photo/Somali Times The Permanent Secretary of the Ministry Foreign Affairs of the Federal Government Somalia Ambassador Mohamed Ali Nur Haji today welcomed the newly appointed UK Ambassador Kate Foster to Somalia at Aden Adde International Airport in Mogadishu. Kate Foster has replaced Ben Fender, who will now be based at the UK Embassy in Somalia.

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