News

Equity Bank Group reported a 13.1 percent increase in profitability to Sh41.9 billion in the first nine months of the year, largely driven by high returns from Kenyan government bonds. The East African region’s second-largest lender by assets shifted its […]

MultiChoice Group, the South African pay-TV company, reported a significant decline in its half-year profit, attributing the 99% drop to a challenging operating environment. The company, which operates DStv across 50 sub-Saharan African countries, faced headwinds from weakening local currencies, […]

The Central Bank of Kenya (CBK) has seen its foreign exchange reserves reach a four-year peak, growing by US$1.97 billion over the past ten weeks as the bank actively purchased excess dollars amid increased supply of the currency. The most […]

Vodacom Group Ltd., Africa’s largest phone company by market value, has reported an 18% decline in first-half net income, primarily due to currency devaluations in Egypt and Ethiopia. The company’s net income fell to 6.84 billion rand ($388 million) during […]

The government of Kenya is planning to introduce a new medical insurance scheme specifically for civil servants, outside of the recently launched Social Health Insurance Fund (SHIF). This proposal comes from the Treasury Cabinet Secretary, John Mbadi, who has introduced […]

The 29th Conference of Parties (COP29) opens today in Baku, Azerbaijan, marking another crucial chapter in global climate negotiations. The 12-day conference follows last year’s significant Dubai meeting, where nations achieved two major breakthroughs: establishing a fund for climate-vulnerable countries […]

In the immediate aftermath of what is described as Trump’s victory over Vice President Kamala Harris, African leaders have moved quickly to establish connections with the incoming administration. Leaders including Kenya’s William Ruto, Egypt’s Abdel Fattah el-Sisi, Ethiopia’s Abiy Ahmed, […]

Kenyan fintech startup Chumz is expanding its operations to Rwanda after achieving significant success in its home market. Chumz, which was formed in late-2019, has developed a mobile app that helps users set and achieve their saving and investment goals […]

The Communications Authority (CA) of Kenya has provided clarity on the new tax compliance system for mobile phones. CA Director General David Mugonyi acknowledged that Kenyans had expressed concerns about data privacy, and he addressed these concerns during a meeting […]

OpenAI has recently secured a massive $6.6 billion funding round, which is being hailed as the largest venture capital round in history. This latest investment values the company at an astounding $157 billion post-money, bringing their total raised capital to […]