Central Bank of Nigeria (CBN) The Central Bank of Nigeria (CBN) has imposed monetary sanctions of N814.3 million (nearly $2 million) on four commercial banks in the country for permitting cryptocurrency transactions, Bloomberg reports. The sanctions come over a year after the apex monetary authority placed an implicit ban on cryptocurrencies in Africa’s largest democracy […]
Author: Curated Content
NSE shrugs off record earnings and dividends
Securities trader Mbuthia Irungu at Nairobi Securities Exchange (NSE) trading floor at the Exchange building in Nairobi on August 26, 2020. PHOTO | SALATON NJAU | NMG The raft of dividend announcements and record earnings made in the past three weeks has failed to excite the stock market, with share prices registering muted growth despite […]
Safaricom, Airtel, Equity among top brands loved by Kenyan women
Telecommunication firms Safaricom #ticker:SCOM and Airtel are among the most loved brands by women in Kenya, a new survey shows. The survey by IPSOS, which interviewed 13 million women from across the country, places Safaricom’s M-Pesa at number two indicating how the money transfer platform has become entrenched in the country. The study placed Equity […]
Stanbic Bank gives Ugandans opportunity to get #OneStepCloser
FIRST BENEFICIARIES: Anne Juuko (left) recently signed an MoU with Diana Atwine, the Ministry of Health Permanent Secretary to extend affordable credit to government health workers. COURTESY PHOTO Kampala, Uganda | THE INDEPENDENT | The social media hashtag #OneStepCloser that has been gaining popularity in recent weeks can now be firmly linked to Stanbic Bank […]
Storm Eunice: Kenyans praise pilots for smooth landing
Kenyan and American flags are waved by respective officials prior to the departure of a Boeing 787-Dreamliner of Kenya Airways on the airline’s first ever non-stop flight from Social Media users in Kenya have commended two pilots working for the national carrier, Kenya Airways, for successfully landing at the airport despite storm Eunice which caused […]
Kenya Airways suspends planned flights to Italy and Younde, gives reason
Kenya Airways suspends planned flights to Rome and Cameroon, gives reason The airline blamed the suspension on low passenger demand, due to the impact of the pandemic. In the meantime, the airline said it will keep serving Italy through other European destinations such as London and Amsterdam. Recall that Kenya Airways had, in October last […]
$182 million bailout delay forces Kenya Airways to reinstate salary cuts
The management of Kenya’s national carrier, Kenya Airways, has commenced a series of pay cuts in order to stay afloat. The move has become imperative as the company has not received any of the bailout funds promised to it a full month after the country’s supplementary budget was announced. The pay cuts would see the […]
Liberian contract for National Aviation Services
The Liberia Airport Authority has awarded an exclusive ten-year ground handling management contract to National Aviation Services (NAS). Under the terms of the cooperation, NAS, the fastest growing aviation services provider in the emerging markets, will provide comprehensive ground handling services at the Roberts International Airport (ROB) airport in Liberia. This includes passenger handling, ramp […]
Fresh produce exporters turn to sea amid air freight frustrations
Mofarm Fresh Fruits Exporters Director Elijah Njoroge explains the stages avocado go through before they are packaged for export. Exporters of fresh produce are eyeing to move more of their cargo by sea to stem losses they have been incurring due to inadequate air transport capacity. They say they are being forced to cancel orders […]
CBK lifts freeze on bank lending rates after IMF notice
The Central Bank of Kenya has begun approving lenders’ applications to increase the cost of loans based on customer risks, setting the stage for expensive credit for small traders and workers in the informal sector. Equity Bank is the first lender to publicly reveal that the CBK has approved the risk element in its lending […]