HSBC to Exit South Africa in Deals with Absa, FirstRand
Multinational British lender HSBC Holdings has agreed to transfer its South African business to FirstRand and Absa in separate deals as it continues to pivot towards Asia. “Following a strategic [...]
US Leads Financing for Angola-Zambia Railway ahead of Biden Visit in October
Angola and Zambia have signed a concession agreement with the Africa Finance Corporation (AFC) for the infrastructure solutions provider to connect railway lines in both countries, in a deal that [...]
Panic Grips Kenyans in Lebanon as Middle East Conflict Escalates
More than 26,000 Kenyans living and working in Lebanon are likely to remain stranded in the country if a full-scale war with Israel erupts, especially after recent escalations. Israel is [...]Meta, Facebook, Can Be Sued in Kenya, Court Rules in Moderator Controversy
A civil application by American tech giant, Meta, was recently dismissed in a ruling by the Court of Appeal, affirming the decision of a lower court that the company can [...]Kenya, 142 Countries Recommit to Global Deal on Fossil Fuels-UNGA
Kenya and 142 other countries have voted for the adoption of the United Nations (UN) PACT for the Future, with UN Security Council member Russia, Belarus, and Iran voting against. [...]Why US Fed's 0.5% Interest Rate Cut Matters to Markets like Kenya
The US Federal Reserve has cut rates by 0.50% the first cut in four years to the range of 4.75% to 5.00%, marking the beginning of an era [...]Food Container Maker Tupperware Files for Bankruptcy
Tupperware, maker of iconic food containers, has filed for bankruptcy after years of dwindling sales. The company was founded in 1942 by Earl Tupper, a chemist, who designed airtight seals [...]JP Morgan CEO Jamie Dimon to Visit Kenya Amid License Delay
JP Morgan Chase CEO Jamie Dimon is set to visit Kenya next month, as part of a broader African tour aimed at expanding the bank’s footprint on the continent, Reuters [...]China Imposes 6 Month Ban, US$ 62mn Fine, on PwC over Botched Evergrande Audit
China's Securities Regulatory Commission and the Ministry of Finance have suspended accounting giant PricewaterhouseCoopers International (PwC) for six months and fined it 441mn Yuan (US$62 million) over the firm's audit [...]Why Kenya Ranks Among World’s Top Expat Destinations
Kenya continues to solidify its position as a leading destination for expatriates, ranking 14th out of 53 countries in the 2024 Expat Insider survey conducted by InterNations. Among the most [...]European Central Bank Cuts Rates to 3.5%
The European Central Bank (ECB) has cut its key interest rates by 0.25 percent in its meeting on Thursday, just days ahead of a much anticipated decision by the US [...]US Inflation Slows to 3-Year Low in August Ahead of Fed Meeting
Inflation in the United States (US) softened in August, raising hopes of a gradual rate cut of 25 basis points during the US Federal Reserve next meeting on September 18th, [...]
