Markets
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Kenya’s Forex Reserves Drops to Ksh.63 Billion on Debt Repayment
Kenya’s foreign exchange reserves dropped by $487 million (Ksh.63.9 billion) in the week ending July 19, 2024. This is after…
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Uganda to Boost Foreign Exchange Reserves with Domestic Gold Purchases
Uganda is set to begin purchasing domestic gold to bolster its foreign exchange reserves and minimize risks associated with reserve…
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Ford Foundation Responds to Ruto’s Accusation of Funding Protests
The American non-governmental organization, Ford Foundation, has issued a response following accusations from Kenya’s President, William Ruto, that it funded…
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Tanzania’s Amsons Group Offers $180 Million for Bamburi Cement Acquisition
Tanzanian conglomerate Amsons Group has set a new benchmark with a historic $180 million (Ksh.23.32 billion) binding offer to acquire…
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Elon Musk Sets Date to Introduce Ksh.1,300 Data Package in Kenya
Starlink has announced the introduction of a cheaper Ksh.1,300 data package, sending jitters to local operators who have enjoyed the…
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GCR Upgrades ShafDB’s Long, Short-term Issuer Ratings to B
South African rating agency GCR, has upgraded Shelter Afrique Development Bank’s (ShafDB) international scale long issuer rating to B from…
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Gen Z Anti-Tax Protests Forces Moody’s to Downgrade Kenya’s Rating to Caa1
Moody’s Ratings (Moody’s) has downgraded Kenya’s local and foreign-currency long-term issuer ratings and foreign-currency senior unsecured debt ratings to Caa1…
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Namibia Inks MoU for Lofdal Thorium Offtake
Namibia Critical Metals has signed a nonbinding memorandum of understanding (MoU) with Copenhagen Atomics (CA) to sell thorium produced from…
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Kapchorua Tea Profit Up 27% to Ksh.399 Million
Kapchorua Tea’s year-on-year Profit after Tax (PAT) jumped to 27% to Ksh.399.4 million from Ksh.314.5 million in the financial year…
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7 More DCPs Meet CBK Requisite Measures to Operate in Kenya
The Central Bank of Kenya (CBK) has licensed an additional 7 Digital Credit Providers (DCPs), bringing the total number of…
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