VW is linking production to a ride-hailing and car-sharing service, stocked with its own vehicles.
Category: Regional News
New hirings signal business rebound in Kenya
Private firms hired more Kenyans last month sustaining a seven-month job growth trend and signalling a strong rebound in the private sector from the slowdown of last year. The higher enrollment was witnessed as business confidence for the country’s private sector remained high on the back of improved operating conditions, the latest Stanbic Bank Kenya […]
African budget airline Fastjet saved from imminent closure with $10m injection
Troubled African budget airline Fastjet has been saved from imminent collapse with a Sh22 billion ($10 million) cash injection from its shareholders. However the airline, which already halted operations in Kenya, said the cash injection will only give it enough funds to keep going for the rest of this year. Half the funds will be […]
Kadaga meets ambassadors to reassue them after age limit debacle
Speaker of Uganda’s Parliament Rebecca Kadaga has asked ambassadors not to make a big issue out of the age limit saga, saying they too have parliaments where legislators misbehave and get punishments. In a meeting on legislature, governance and human rights and security, a delegation of 16 ambassadors led by Swedish Ambassador to Uganda Per […]
Tanzania Stock Exchange opens week on low note
The Dar es Salaam Stock Exchange (DSE) opened the week on a low note, with the market capitalisation down by Sh290 billion to Sh21.9 trillion on Monday from Sh22.19 trillion on Friday. The decrease in the market capitalisation was a result of a fall in share prices among cross-listed companies included Acacia (ACA), Kenya Airways […]
600 trucks forced out of road by new Kenyan railway
Standard Gauge Railway cargo train has forced 600 trucks out fo the road since its launch in January, data from the Ministry of transport reveals. The data released on Monday by Transport CS James Macharia further states that over 30,000 containers have been moved by the SGR in the six months it has been in […]
Kenyan glass manufacturer threatens to close due to high production costs and cheap imports
A Mombasa-based glass manufacturer is warning that it could be forced to close Kenyan operations under the heavy weight of high production costs coupled with proliferation of cheap imports. Milly Glass Works director Mohamedraza Rashid says the EAC and COMESA agreements have opened doors for cheap products from member states forcing it to review its […]
East Africa’s creative industry gets $900k credit fund to grow to $5m over 4 years
The financing is aimed at unlocking the potential of the creative and cultural economy in the region. According to the agreement, enterprises will be able to access working capital and asset financing, as well as strengthen their internal systems to enable them to produce at scale and make their business practices more efficient. This signing […]
Mastercard driving shift of Tanzania into a cashless economy
Mastercard and Selcom have expanded their collaboration by signing a seven year strategic partnership agreement to introduce a variety of payment solutions in the country, thus supporting Tanzania’s goal of becoming a cashless economy. Tanzanian’s will be enabled to transact more conveniently, quickly and securely at more payment acceptance locations. Already consumers, retailers and local […]
Kenya: Agriculture Minister complains about sugar dumping allowed by the Treasury
Agriculture Cabinet Secretary Mwangi Kiunjuri on Monday accused Treasury of opening the floodgates allowing the dumping of 1.3 billion kilos of sugar into the market, effectively knocking millers out of business for a long time. Mr Kiunjuri said Treasury, in an unprecedented move, allowed everyone, without a licence, to import as much sugar as they […]