China’s digital yuan may be the largest central bank digital currency (CBDC), but a digital euro is coming. European Union Commissioner for Financial Services Mairead McGuinness announced Feb. 9 plans to introduce a bill creating a digital euro next year, according to Politico. Based on current experiments, that means an EU CBDC could launch as […]
As Nairobi Expressway takes shape with finishing touches, a metal fence is being erected at sections of the Sh67 billion road; in what would be every scrap metal dealer’s dream if a ban on the trade was not in place. A lucrative scrap metal trade is funding vandalism that had become so daring the culprits […]
Kenya is banking on the $385 million new Kipevu Oil Terminal to wrest the petroleum business from Dar es Salaam port, which has been supplying the Great Lakes region. Tanzania turned the tables on the port of Mombasa after persisted allegations of adulteration of petroleum products on the Northern Corridor. Then the three-year closure of […]
Kenya will have its first home-built ship ahead of the August target, boosting the government’s plans on the blue economy. The Sh2.4 billion vessel with a capacity of 1,800 tonnes is being built at the Kenya Shipyard Limited’s Kisumu facility by Kenyan agencies, including the KDF, in partnership with Dutch firm-Damen shipyards. Christened MV Uhuru […]
A court in South Africa has ordered Vodacom to pay the ‘Please Call Me’ inventor five per cent of the total voice revenue generated by the product in the past 20 years. The ruling delivered by Gauteng High Court found that the telecommunication giant which owns a 35 per cent stake in Safaricom Plc shortchanged […]
The State House budget has been increased 47.7 percent or Sh1.89 billion for an undisclosed expense, purchase of cars and local trips, signalling increased travel by President Uhuru Kenyatta in the months to the August General Election. The Treasury’s supplementary budget estimates presented to Parliament for review indicate fresh allocation of Sh1.05 billion to State […]
Kenya’s Energy sector is largely to blame for greenhouse gas emissions The major shift is now being witnessed with most of the industries investing in clean energy The Bamburi Cement power project is expected to take off within this year The Kenyan energy sector is grappling with transiting to clean power as the country cannot […]
A Chargenet Kenya electric vehicle charging station at ABC Place, Waiyaki Way, Westlands in Nairobi on September 14, 2021. PHOTO | DIANA NGILA | NMG Last month, the Kenya Power and Lighting Company announced plans to roll out a national network of electric vehicle (EV) charging stations, intending to unleash new revenue streams and diversify […]
The proposed Central bank digital currency (CBDC) will help bring down the transaction fees currently charged on digital payments in what could make it the biggest competitor to Kenya’s mobile money sector. The banking regulator says the virtual currency that will be exchangeable on a one-to-one basis with physical cash would work in a similar […]
The Kenya Airports Authority (KAA) has kicked off the expansion of the Kisumu International Airport in readiness for the May 2022 Africities Conference. The new airport, which will double up its current capacity upon completion, is expected to be ready for operation in the next 90 days. The KAA managing director Mr Alex Gitari said […]
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