Times Tower, the headquarters of the KRA, in Nairobi By Business Daily Africa Aggressive tax collection and recovery measures by the Kenya Revenue Authority (KRA) raised revenue collection by a fifth in the year to June 2022, the highest ever annual growth margin recorded by the agency. The tax agency said on Thursday that it

Kenya Airways and Ethiopian Airlines planes at Kamuzu International airport in Malawi By Business Daily Africa African airlines are expected to record $4.1 billion (Sh480 billion) loss this year on the back of expensive fuel that is eroding the gains made by a recovering business. Africa Airlines Association (AFRAA) says expensive jet fuel and other

Photo Somali Times/President Recep Tayyip Erdoğan his Somali counterpart Hassan Sheikh Mohamoud By Daily Sabah Somalia is the main example that shows the importance Turkey attaches to the economic development, social peace and stability of the African continent, President Recep Tayyip Erdoğan said Wednesday. Read: Somalia’s president Hassan Sheikh history of corruption 2012-2017 Speaking at

Turkish President Recep Tayyip Erdogan (R) and Italian Prime Minister Mario Draghi (L) attend a bilateral agreements signing ceremony after their meeting at the Presidential Complex in Ankara, Turkiye on July 05, 2022. ( Photo Credit: TUR Presidency/ Murat Cetinmuhurdar ) By Anadolu Agency Türket and Italy are committed to deepening cooperation in the defense

By Business Daily Africa Kenya will finally launch its international financial centre in the capital Nairobi today after years of preparation to attract large foreign firms and boost capital flows. The Kenyan hub is expected to model Nairobi as a financial district in line with existing financial centres in European, Middle East and the Far

By Reuters Turkey’s annual inflation rate jumped to a 24-year high of 78.62% in June, data showed on Monday, just above forecast, driven by the impact of the Ukraine war, soaring commodity prices and a slide in the lira since a December crisis. Inflation has surged since last autumn, when the lira slumped after the

By Reuters Cryptocurrencies are the solution to tackling financial exclusion in the Central African Republic, its President Faustin-Archange Touadera said on Sunday, citing the cost of opening bank accounts. “The alternative to cash is cryptocurrency,” Touadera said at a launch event for crypto initiative Sango hosted by the country, after it became the first African

By Daily Sabah The Somali government has granted operating licenses to Turkish Islamic lender, or participation bank, Ziraat Katılım, becoming the first Turkish international bank to operate in the Horn of African country. After a meeting in the capital Mogadishu, Somalia’s central bank said in a statement that it has granted permission for two international

National Treasury Principal Secretary Julius Muia By Business Daily Africa Kenya will get the new tranche of Sh28 billion from the International Monetary Fund (IMF) in the new financial year, a delay that could complicate the funding of the budget in an election year. Treasury Principal Secretary Julius Muia said the money, which is the

By Reuters The nosedive in cryptocurrency markets has wiped out millions of dollars in funds stolen by North Korean hackers, four digital investigators say, threatening a key source of funding for the sanctions-stricken country and its weapons programmes. North Korea has poured resources into stealing cryptocurrencies in recent years, making it a potent hacking threat