Markets
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Kenya Secures $606.1 Million Loan From IMF to Manage Debt
The Executive Board of the International Monetary Fund (IMF) concluded the seventh and eighth reviews under Kenya’s Extended Fund Facility…
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Kenya Power Swings to Record Profit as Strong Currency Cuts Debt
Kenya Power and Lighting Co. posted a full-year profit thanks to a stronger local currency that softened its debt burden,…
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Kenya Confident in Continued Shilling Stability Ahead of IMF’s $3.9 Billion Loan
Central Bank of Kenya (CBK) Governor Kamau Thugge has expressed confidence in the current level of the Kenyan shilling, currently…
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Kenya Leads African Start-ups at $437 Million in Funding in 2024
As 2024 nears an ending, Kenya and Egypt have emerged as the dominant players in African start-up funding, claiming a…
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South African Inflation Slowing to 3.8% Backs Rate Cut Bets
South Africa’s annual inflation rate fell below 4% for the first time in more than three years bolstering the case…
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KCB’s Stock Surges as Bank Divests From National Bank of Kenya
Shares of KCB Group Plc, Kenya’s largest bank by assets, surged to their highest level since May as investors priced…
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Kenya Successfully Migrates Electronic Payment System to Global Standard
The Central Bank of Kenya (CBK) has successfully completed the migration of the Kenya Electronic Payment and Settlement System (KEPSS)…
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CBK Authorizes JPMorgan Chase Bank to Open Representative Office in Nairobi
The Central Bank of Kenya (CBK) has granted authorization for JPMorgan Chase Bank N.A., a major American financial institution, to…
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Uganda Lowers Benchmark Lending Rate to 9.75%
Uganda’s central bank lowered its benchmark interest rate to 9.75% from 10%, marking its first consecutive rate cut in four…
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Adani Group Seeks to Invest $900 Million in Tanzania Power Lines
Tanzania is in talks with the Adani Group for a $900 million public-private partnership project to construct high-voltage power lines.…
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