Tanzania's Central Bank Suspends 5 Banks From Forex Trading
Bank of Tanzania has suspended five commercial banks from trading in the interbank forex exchange market (IFEM) for a month, as part of its ongoing regulatory measures to subdue irregular [...]
Branch Seeks KES 500M To Become A Fully Fledged Bank
Branch International Kenya is seeking to raise Ksh500 million through a six-month commercial paper as it accelerates its move to start offering virtual banking services through its online platform. The [...]Safaricom to Launch its M-Pesa Services in Ethiopia
Safaricom is in its final stretch to launch its M-Pesa services in Ethiopia, this is according to reports by Reuters. Two sources quoted by the news agency noted that the [...]Early Child Marriages Costs Africa Billions of Dollars in Human Capital Wealth- World Bank Report
Early Child marriages will cost Africa a total of $63 Billion in lost earnings and human capital wealth, this is according to a World Bank report dubbed Educating Girls and [...]Deacons PLC To Be Placed Under Administration
Clothing and footwear retailer Deacons PLC has filed a notice of intention to appoint administrators as a result of financial difficulties it is currently facing. Muchiri Wahome, the Chief Executive [...]Burundi Rejects JamboJet As It Lacks Business Class
Burundi government has rejected JamboJet’s proposal to offer flights between the two countries, as their planes are small and do not have business class sections. The Kenya Airways’ subsidiary was [...]Equity's Congo Records Fastest Growth Among Its Subsidiaries
Equity’s subsidiary in Democratic Republic of Congo posted the fastest growth by registering 194 per cent Profit After Tax, propping its bottom-line and underlying the potential of subsidiaries to its [...]KQ Set For Daily Flights To Somalia
Kenya Airways will commence daily flights to Mogadishu as it seeks to increase its presence in Africa as from 15th November 2018. The move has been necessitated by growing travel [...]Africa to Adopt Blockchain Mobile Money in 2021
DéMars, a Mauritius-based startup using blockchain protocol, will join the mobile money sub-Saharan market by 2021 as it angles for the US$20 billion pie. The platform is currently under alpha [...]KenolKobil Plc to Acquire 33 Service Outlets in Uganda and Rwanda
KenolKobil Plc has announced plans to acquire up to 33 retail outlets in Uganda and Rwanda. The Pan African oil marketer, in a statement, says it has agreed terms to [...]South Africa Scraps Short Term Visa Requirement for Kenyans
The South African government has Scrapped Short-term Visas Requirements for Kenyans looking to visit the country for business and academia in a move that aims foster Pan-Africanism. The new arrangement [...]South Sudan Inflation Blamed On Political Influence In Banking Sector
A recent report by Sentry indicates that more than half the banks operating in South Sudan are partially owned or controlled by Politically Exposed Persons (PEP), suggesting an undue level of [...]
