Investments

JUNE 22 – A flashy tycoon in Zimbabwe has a nation entranced – some beguiled, others alarmed – by his habit of giving away cars along with wads of cash to those he deems patriotic – even presenting them to those he has never met. Mercedes-Benzes, Toyota SUVs, Range Rovers are Wicknell Chivayo’s vehicles of…

NAIROBI, Kenya, June 21 – The Kenya Tourism Board (KTB) has sustained its efforts to woo more European visitors with a target of 12.5 percent in tourist arrivals from the continent in 2025. KTB seeks to prioritize an array of modalities to realize its goal, including improved air connectivity and reinforcing safety guarantees to drive…

NAIROBI, Kenya, June 20 – Labour unions from across Africa have urged governments to ensure the African Continental Free Trade Area (AfCFTA) is implemented in a fair, inclusive, and worker-focused manner. The union leaders who met in Nairobi during a three-day Regional Capacity Development and Political Engagement Forum warned that the free trade pact, if…

NAIROBI, Kenya, June 19— The East African Development Bank (EADB) has sealed a Sh5.2 billion loan agreement with the OPEC Fund for International Development to spur sustainable economic growth and regional integration across East Africa. The deal represents the fourth and largest financing collaboration between the two institutions to date. The funds are earmarked to…

NAIROBI, Kenya, June 18 – Britam’s innovation hub, Betalab, has invested Sh5 million in fintech startup Oye to expand access to insurance and fuel credit for boda boda riders. The investment targets a critical gap in financial protection for riders, a group often exposed to economic shocks and road risks. The funding will scale two…

NAIROBI, Kenya, June 17 – The Kenya Revenue Authority (KRA) is keen on leveraging technology as part of reforms to fully digitize value-added tax (VAT). KRA’s Commissioner for Micro and Small Taxpayers, George Obell, who spoke during the African Development Bank (AfDB) VAT Digitalization Seminar, underscored the critical role of digital tools in transforming revenue…

NAIROBI, Kenya, Jun 16 – Bybit, a global cryptocurrency exchange, has stepped up its platform security and user protection efforts to curb fraud. Wilson Ogheneovo, the Regional Manager for Bybit in Africa, revealed the company is rolling out enhanced safety features, including escrow services that ensure funds are only released after both parties verify transactions….

JUNE 15 – Construction is booming in Somalia’s capital city and as Mogadishu literally rises from the ashes of its violent past it is also giving unexpected opportunities to women like Fathi Mohamed Abdi and Saadia Ahmed Omar. The two young female engineers have been overseeing the construction of a 10-floor apartment complex in Taleh…

The apex bank said in an economic report released in Nairobi, Kenya’s capital, that the country earned 40 billion shillings (309.4 million U.S. dollars) during the first quarter, a decline from 349 million dollars during a similar period in 2024. Kenya exported 216,429 tonnes of produce, up from 206,714 tonnes in a comparable period in…