Business

TransCentury PLC Delays Release of 2024 Audited Financial Results

TransCentury PLC Delays Release of 2024 Audited Financial Results

TransCentury PLC has announced a delay in publishing its audited financial statements for the year ended December 31, 2024, citing…
SACCOs Expand Loan Portfolio to Dwarf Banks in Private Sector Lending

SACCOs Expand Loan Portfolio to Dwarf Banks in Private Sector Lending

Kenya’s Deposit-Taking Savings and Credit Cooperative Organizations (DT-SACCOs) expanded their loan portfolio to dwarf commercial banks in the private sector…
Kenya’s Economic Growth Down to 4.7% in 2024, Says KNBS

Kenya’s Economic Growth Down to 4.7% in 2024, Says KNBS

Kenya’s economy expanded by 4.7% in 2024, down from the 5.7% growth registered in the previous year, according to the…
How Ban on Foreign Currency Will Affect International Transactions in Tanzania

How Ban on Foreign Currency Will Affect International Transactions in Tanzania

The Bank of Tanzania (BoT) imposed a ban on the use of foreign currencies for local transactions in Tanzania, effective…
AfDB Funding in Limbo as Trump Proposes $555 Million in Aid Cut

AfDB Funding in Limbo as Trump Proposes $555 Million in Aid Cut

The United States government has proposed ending its contributions to both the African Development Bank (AfDB) and its concessional arm,…
Kisumu Port Posts 142% Cargo Throughput Growth as KPA Eyes 223,500 Tonnes Target by 2025

Kisumu Port Posts 142% Cargo Throughput Growth as KPA Eyes 223,500 Tonnes Target by 2025

Kenya’s Kisumu Port is emerging as a key inland logistics hub, with the latest data from the Kenya Ports Authority…
DStv Sees 5.1% Record Drop in Subscription in 7 years

DStv Sees 5.1% Record Drop in Subscription in 7 years

South Africa’s pay-TV provider, DStv, has seen a sharp decline in its subscriber base, with numbers falling back to levels…
Banks Oppose Proposal to Cap Lending Rates Using CBR

Banks Oppose Proposal to Cap Lending Rates Using CBR

Kenyan banks have opposed a proposal by the Central Bank of Kenya’s (CBK) to adopt the Central Bank Rate (CBR)…
Afreximbank Launches $3 Billion Fund for Intra-African Oil Trade

Afreximbank Launches $3 Billion Fund for Intra-African Oil Trade

The African Export-Import Bank (Afreximbank) has unveiled a $3 billion Revolving Intra-African Oil Trade Financing Programme aimed at supporting African…
Nigeria Names Four Kenyans in $840 Million CBEX Crypto Scam

Nigeria Names Four Kenyans in $840 Million CBEX Crypto Scam

Nigeria’s Economic and Financial Crimes Commission (EFCC) has identified four Kenyans as suspects in a massive cryptocurrency scam tied to…
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