Rosterman residents in Kakamega prospect for gold. The Lirhanda corridor gold is said to be of very high value. That residents of parts of western Kenya are literally sitting on billions of shillings in gold deposits became evident on Wednesday when a British company said it has acquired a firm that is prospecting for the

The shilling has weakened to a record low of 108.50 units against the dollar, continuing its losing streak. The shilling has weakened to a record low of 108.50 units against the dollar, continuing its losing streak. Wednesday’s run marked the tenth straight day for the shilling to trade above 108 units since embarking on a

Photo/Somali Times A five-day meeting between a delegation from the Federal Government and the Turkish company Albayrak, which operates the main port of Mogadishu, has finally reached an agreement. The Somali delegation included Acting Minister of Ports and Maritime Transport Maryan Aweys, Acting Minister of Finance Abdirahman Duale Bayle, advisers from the Prime Minister’s Office,

A Nuclear Power plant. Kenya is set to build a $5 billion (Sh540 billion) nuclear power plant on a site in Tana River County Kenya is set to build a $5 billion (Sh540 billion) nuclear power plant on a site in Tana River County over the next seven years with funding from private investors. The

Property sales see annual rise of 124% last month, according to official data Praising the performance of Turkey’s construction sector, the treasury and finance minister said Monday the country saw the highest housing sales figure in July with 229,357 units. Residential property sales in Turkey jumped 124.3% year-on-year in July, according to the country’s statistical

Photo: Credit Sombank By Alex Hamilton Somalia-based Sombank has selected a cloud-based deployment of the Temenos Islamic banking solution. The bank plans to implement the full front-to-back Temenos platform, which combines Temenos Infinity and Temenos Transact. Temenos claims its “scalable innovative technology” provides “superior features” for Islamic banks to offer their customers Shariah products. Founded

FILE – In this Thursday, April 30, 2020 file photo, a woman wearing a mask to protect against coronavirus, rides a bicycle past a job centre in Shepherd’s Bush, as the lockdown to curb the spread of coronavirus continues, in London. The U.K. economy has officially fallen into a recession after official figures showed it

Seismic research vessel continues exploration of country’s southern coasts In the face of efforts by Greece, the Greek Cypriot administration and Egypt to limit Turkey into its mainland, Ankara has announced it would respond by continuing exploration activities in the Eastern Mediterranean with its seismic research vessel, the MTA Oruc Reis. Turkey has accused Greece

Somalia expects to announce the winners of its first oil and gas licensing round early next year, as the country seeks petro dollars to help rebuild its struggling economy, a senior government oil official said on Wednesday. Battered by violence and an Islamist insurgency since clan warlords overthrew a dictator in 1991, Somalia is offering

Photo/Somali Times China getting fishing rights in the fragile state of Somalia has been of grave concern especially with regards to the plight of local fishermen and stocks but the fisheries minister Abdirahman Ahmed has assured that all is well. According to him, up to 24 nautical miles (44km) off the coast are reserved for