The Kenyan government is hoping to control inflation rate with the support from lower oil prices. Lower oil prices are supporting the Kenya's economy as the growth rate is expected to be six percent in 2016 from 4.5 percent in 2015. Inflation rate breached the government's target band of 2.5 percent to 7.5 percent as it reached to eight percent.
Kenya
BTC Mining Firm Marathon Digital to Develop Kenya's Green Energy Infrastructure, Thanks to New Deal
BTC mining firm Marathon Digital closed a new deal with Kenya to help the African country develop its green energy infrastructure.
Kenyan President William Ruto Considers Crypto Mining to Power Energy Sector Growth
President William Ruto revealed ongoing discussions with companies such as Marathon Digital, signaling a possible transformation in Kenya's economic terrain.
African Farmers Now Supported With Mobile Drought Insurance
Due to extreme dry weather conditions, African farmers are seriously affected by their crops failure with little or no more money to replenish their lands or support their families. With the mobile drought insurance, farmers are protected from such harsh conditions by paying a small surcharge fee upon purchase of seeds and fertilizers registered with an insurance company.
Kenya Airways Reveals $690 Million Bailout Plan After Incurring Loss $261 Million Last Year
Kenya Airlines has recorded an annual loss of $690 million during 2015. Following the ever largest corporate debacle in Kenyan history, the struggling national carrier has revealed bailout plan for $690 million. The plan needs to get approval in the board meeting scheduled to take place on Thursday.
Latest News
Emerald-colored tea bushes blanketing the rolling hills of Nandi County have long provided a livelihood for small-scale farmers, helping make Kenya one of the world's biggest tea exporters.
Kenya's Safaricom (SCOM.NR) and U.S. company MoneyGram International (MGI.O) have agreed a deal for money to be sent from abroad to Kenya through their money transfer services, targeting more than $1 billion sent in remittances every year.
Sunday Kenya made an agreement with China to finance 90% of the 609.3 kilometer railway project in Nairobi with cost estimate of SH 327 billion or $3.8 billion.
Dr Kiprono Kittony, the chairman of the Nigeria-Kenya Chamber of Commerce, announced in a meeting in Abuja Monday that 7 of the 46 newly discovered oil fields will be granted to Nigerian business men.
Midrand, South Africa-based innovative business solutions integrator Business Connexion (BCX) is eyeing additional acquisitions in Ghana and investment opportunities in the Kenya and Nigeria to widen its presence in the said markets.
Johannesburg, South Africa-based media firm Times Media Group (TMG) picked up a 49% stake in Nairobi, Kenya-based broadcasting company Radio Africa Ltd in a deal valued at $18.62 million ZAR1.58 billion.
Cape Town, South Africa-based startup accelerator 88mph is expanding to Lagos, Nigeria to begin a new venture with seed funding specialist L5Lab to fund startup programs.
Kenya-based wearable tech startup CladLight created the Smart Jacket, a wearable jacket with modified reflector and transmitter, to make motorbike driving more stable and help reduce the number of accidents in the country.
Nairobi, Kenya-based private equity firm Catalyst Principal Partners acquired Dar es Salaam, Tanzania-based heavy equipment rental and logistics firm EFFCO for an undisclosed amount as part of its strategy to invest in high-growth companies in eastern Africa.
