IMF Approves KES 2 Trillion Ukraine Loan
The International Monetary Fund (IMF) has announced that its executive board has approved a Ukraine loan program worth $15.6 billion (KES 2.07 trillion) over four years. This forms part of [...]
China to Contribute to One-Third of the World's Economic Growth in 2023-IMF
China is expected to make a considerable contribution to the world economy this year, with approximately one-third of global growth. According to the Managing Director of the International Monetary Fund [...]US Federal Reserve Hikes Interest Rates by 25 Basis Points
The Federal Reserve announced that it has increased its benchmark lending rate by 25 basis points in response to the continuing inflation and banking crisis in the United States. Following [...]IMF Grants Sri Lanka $3 Billion Bailout
The board of the International Monetary Fund (IMF) has approved a $3 billion bailout package for Sri Lanka, aimed at aiding the country in restructuring its debts and alleviating a [...]UK launches a New Visa Application Centre in Kenya
United Kingdom (UK) has launched a new visa application centre in Kenya which will now take 15 working days to get visas down from six weeks. Jane Marriott, the British [...]IMF Set to Boost Fund Limits in a Bid to Help Members Overcome Current Economic Crisis
The International Monetary Fund (IMF) will temporarily increase funding limits for member nations to help them overcome current economic challenges. The annual limit under the fund’s General Resources Account will [...]
Africa Fintech Summit 2023: Unlocking the Potential of Fintech in Africa with Global Collaboration
The Africa Fintech Summit (AFTS) is set to hold its 9th edition in Washington DC, USA, on April 12, 2023. The summit will bring together top regulators, policymakers, financial and [...]
Financial Action Task Force Suspends Russia's Membership
The Financial Action Task Force (FATF), the global financial watchdog, has suspended Russia’s membership in the organization on the first anniversary of the Kremlin’s invasion of Ukraine. T. Raja Kumar, [...]JP Morgan opens regional office in Nairobi, Kenya
JP Morgan, the largest bank in the United States and the world's sixth-largest bank by total assets, has announced the opening of a regional office in Nairobi, Kenya. Kenya's President [...]M-Pesa Partners with Amazon to Provide Global Remittance Services
M-Pesa, Safaricom's renowned mobile money remittance service, has formed a new strategic partnership with Amazon, the prominent American e-commerce company, to offer worldwide remittance services. In May 2021, Safaricom suggested [...]Startup Wise Guys Secures €25 Million to Invest in Overlooked Markets
Startup Wise Guys, a European startup accelerator, has secured €25 million as a partial closing for its target fund of €45 million, aimed at providing support for B2B SaaS startups. [...]European Union Bans Petrol and Diesel Cars from 2035
On Tuesday, the European Union's lawmakers passed a legislation that imposes an expiry date on the sale of new cars equipped with combustion engines. This effectively prohibits the sale of [...]
