Zanzibar has taken a bold step in technology by launching a National Blockchain Network Sandbox. This initiative aims to position the island as a hub for global innovation, fostering collaboration among innovators, corporates, and governments worldwide. The project is set to revolutionize how blockchain technology is utilized across various sectors, cementing Zanzibar’s place on the…
In a surprising move, the Energy and Petroleum Regulatory Authority (EPRA) has announced that fuel prices will remain unchanged for November. This decision comes at a time when global oil markets have been experiencing significant fluctuations, leaving many Kenyans relieved but curious about what it means for the economy and their daily lives. In its…
Mombasa Port, a cornerstone of East Africa’s economy, has recorded a remarkable 14% jump in cargo volumes, reflecting its critical role in regional trade. The Kenya Ports Authority (KPA) reported that this surge underscores the port’s capacity to handle increasing trade demands while strengthening its position as a logistical hub for landlocked countries such as…
Kenya’s Capital Markets Authority (CMA) has approved six new unit trust funds, underscoring its efforts to expand the diversity of investment opportunities in the country. This move is part of a broader strategy to deepen capital markets and encourage greater public participation in financial investments. Overview The newly approved funds include offerings from several prominent…
Kenya’s Parliament is setting its sights on tougher measures for foreign companies aiming to do business within the country. Lawmakers argue that existing standards are too lenient, potentially harming local industries and diminishing growth opportunities for Kenyan businesses. As debate intensifies, policymakers weigh the benefits and potential drawbacks of raising the bar for foreign firms,…
1st. Nov. 2024 NAIROBI — The Nairobi Securities Exchange (NSE) saw a remarkable resurgence in 2024, adding nearly KSh 420 billion in investor wealth by October. This upsurge signals renewed local investor confidence amid a challenging economic backdrop. The market’s capitalization surged by 29.2%, lifted primarily by robust performances in the energy and banking sectors….
Kenya’s economy is set for a slowdown, with growth projected to ease to 5.0% in 2024 and 2025, according to the International Monetary Fund (IMF). This adjustment comes as global economic pressures persist and Kenya grapples with a volatile macroeconomic landscape, including high inflation, currency depreciation, and debt obligations. Here’s what the IMF’s prediction could…
October 22, 2024 – In a bold move, African leaders and economists are rallying for a $120 billion development fund aimed at leveling the financial playing field in a system where low-income countries often bear disproportionate debt burdens. With mounting challenges from debt servicing to climate crisis responses, Africa’s leaders argue the current global financial…
