A delay by the government to disburse the Sh20 billion bailout package to Kenya Airways (KQ) #ticker:KQ has forced the national carrier back to pay cuts. Kenya Airways CEO Allan Kilavuka says that the money has not hit its account a month since it was allocated in the supplementary budget by the Treasury for the […]
Tag: XUGA
Uganda Securities Exchange (XUGA)
Uganda: Equity Bank, Bunyoro Kitara Kingdom Strengthen Ties
Equity Bank Uganda and the Bunyoro Kitara Kingdom have signed a Memorandum of Understanding, to facilitate and strengthen collaboration between the two entities in the areas of enterprise development and financial inclusion, energy, and environment, food and agriculture, education, health, and oil and gas. The signing ceremony took place at the kingdom headquarters in Hoima. […]
Nigerians Account for Over 35 Million Vervecards
Leading payment technology and card business, Verve International has announced that it has issued over 35 million active payment cards in Nigeria alone. This is in addition to over 50 million plastic and digital payment tokens. Following this development, the financial services provider says it is onboarding over 200 direct Scheme members across Africa and […]
PMI Shows Seventh Successive Rise in Private Sector Activity
Kampala – Uganda, March 03, 2022: A return to normality in the Ugandan economy helped lead to a further improvement in business conditions in the private sector during February, according to the Stanbic Bank sponsored Purchase Managers Index produced by IHS Markit. According to the index, output, new orders, employment, and purchasing activity were all […]
US flags Kenya for relaxing dirty cash reporting rule
Before 2021, the Central Bank of Kenya (CBK) required commercial banks to record and report all transactions above Sh1 million (approximately $10,000). Kenyan officials handling money-laundering investigation files are tipping account holders of suspicious transactions to move their assets before raids, hampering the fight against money launderers. A new US report tracking the global money-laundering […]
JOSHUA OIGARA: Micro, Small and Medium Entrepreneurs Need Innovative Support for Quicker Recovery
The COVID-19 pandemic has largely been framed as a public health crisis, over one and a half years since it hit Kenya. However, its economic impact has been severe and widespread. The effects have been felt across the economy, significantly afflicting all sectors and households. In all this, irrespective of industries, the Micro, Small and […]
Banks’ reserve cash at CBK hits a record Sh268b
Central Bank of Kenya (CBK) building, Nairobi [Courtesy] Money that banks sets aside to cushion themselves against a run by depositors rose to a record Sh268.1 billion in December last year. This was a jump of 13.5 per cent compared to Sh236.2 billion in December 2020, according to data from the Central Bank of Kenya […]
Snapshot on the African Economy as @ 040322
Friday, March 11, 2022 / 9:38 PM / United Capital Research / Header Image Credit: Getty Anglophone West Africa Nigeria According to recently released CBN’s capital importation data, breakdown shows a drop in Nigeria’s Foreign Portfolio Investments (FPI) to $3.4bn from $5.2bn the previous year. It represents two consecutive years of FPI decline, having dipped […]
‘Project Okusevinga’: Ugandans to Buy Gov’t Securities Using Mobile money
BoU Deputy Governor, Michael Atingi-Ego Ugandans will soon start buying government’s treasury bills and bonds via their cell phones, Chimp Corps report. With 30 million registered mobile money customers, Uganda is looking to tap into that network by allowing mobile phone users to trade the government securities across their phones. “With the backing of our […]
Video: Kenya Airways pilots skillfully land planes in Europe amid raging Storm Eunice
Two Kenyan pilots have made the country proud after successfully completing trips to Europe – landing planes in airports amid the raging Storm Eunice. Kenya Airways Captain Ruth Karauri on Friday, February 18 employed her school training to execute a near-perfect cross-landing at London’s Heathrow Airport. Flying a KQ Boeing 787 on Friday, Karauri managed […]