Category: Business
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A new national survey has laid bare the economic strain facing millions of households, showing how falling incomes, limited job opportunities and rising costs, made worse by the Finance Bill, are reshaping everyday life. “In looking at these figures, however, it should be recalled that even if the rate of inflation has fallen to under 4%…
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Kenya anchored the French energy powerhouse Rubis’ first-half 2025 performance, powering retail margin gains even as aviation volumes eased. Rubis, which holds 2nd biggest market share in Kenya at 15.96%, also disclosed that its Kenyan subsidiaries sold about €34.7 million (KSh 5.3 billion) of Kenyan government securities during H1 2025, freeing up liquidity that had…
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The Bank of Ghana (BoG) has suspended the remittance partnerships of 8 major financial technology and money transfer firms, including fintech giants Flutterwave, Cellulant, and the foreign exchange license of UBA Ghana, citing violations of regulatory guidelines. According to the regulator, the companies breached provisions of the Updates Guidelines for Inward Remittance Services by Payment…
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Equity Group CEO Dr. James Mwangi with Ethiopian Investment Commission (EIC) Commissioner Dr. Zeleke Temesgen on Friday. [Image: EIC] Equity Bank Group has taken a major step toward expanding into Ethiopia after its chief executive Dr. James Mwangi held talks with Ethiopian Investment Commission (EIC) Commissioner Dr. Zeleke Temesgen on Friday. With over 120 million…
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(Reuters) -Eni’s Chief Executive Claudio Descalzi met the U.S. energy and interior secretaries on Friday as Washington pushes to seal energy supply deals that it hopes will strengthen its influence in the region while weakening Russia’s. In a series of meetings on the sidelines of the Gastech conference in Milan, Descalzi hosted U.S. Secretary of…
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UBA pledges $150 million to Kenya’s infrastructure as CEO leads high-level talks with President Ruto
Oliver Alawuba (GMD- UBA Plc) with HE. Dr. William Samoei Ruto (The President of Kenya). The Group Managing Director/Chief Executive Officer of United Bank for Africa (UBA) Plc, Oliver Alawuba, on Tuesday led a high-powered delegation on a working visit to the Kenyan President and other top government functionaries, reaffirming the bank’s commitment to accelerating…
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One of Geothermal Development Company’s plants. (Photo: GDC/X) Geothermal Development Company (GDC) could face a financial setback that may disrupt its operations, according to an audit by Auditor General Nancy Gathungu. The report shows the company might have to pay Sh2.3 billion in a legal dispute with another firm, a ruling already issued by a…
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The National Treasury. (Photo: File) Kenya is planning to raise about Sh370 billion from external sources in the current financial year as it seeks to ease reliance on expensive borrowing and embrace new financing models. At the heart of this plan is the country’s first-ever debt-for-food swap worth $1 billion (Sh130 billion) with the World…
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Bolt has its Africa hub in Nairobi, reflecting its strong presence in the region. (Photo: File) Kenya’s ride-hailing industry is proving that driving for apps can be more than just a part-time hustle, with some drivers earning incomes that surpass many formal jobs. A study by Bolt Kenya found that the company’s top 50 drivers…
