Nairobi. Photo/IMF The International Monetary Fund (IMF) has loaned Kenya Ksh 78 billion under the Extended Fund Facility and Extended Credit Facility. The approval of the loan by the IMF board follows conclusion of the Seventh and Eighth Reviews by a team from the lender. The EFF and ECF were first approved in April 2021 […]
The Chinese electric vehicle giant BYD has seen its quarterly revenues soar, beating Tesla’s for the first time. It posted more than 200bn yuan ($28.2bn, £21.8bn) in revenues between July and September. This is a 24% jump from the same period last year, and more than Elon Musk’s company whose quarterly revenue was $25.2bn. However, […]
Amsons Group Managing Director Edha Nahdi Amsons Group, the Tanzanian business conglomerate currently bidding to acquire listed building and construction solutions provider Bamburi Cement Plc, has announced plans to enhance its market capacity with two new production expansion projects in Tanzania. Alongside its US$180 million bid for Bamburi Cement, Amsons Group has announced a US$320 […]
PHOTO | Courtesy The Competition Authority of Kenya (CAK) has approved the acquisition of the National Bank of Kenya by Access Bank PLC on condition that the Nigerian lender retains at least 80pc of NBK’s current workforce for a period of one year. According to CAK, the acquisition from KCB Group was based on the […]
Kenya Pipeline Company (KPC) says it has completed the upgrade of the second phase of the Nairobi-Eldoret pipeline which is now expected to enhance fuel supply to the western region and neighbouring countries. The upgrade of Line IV will now increase product flowrate along the 14-inch western Kenya pipeline to 515M3 per hour up from […]
The Ministry of Tourism and Wildlife will collaborate with counties to revive tourism in the country, Cabinet Secretary Rebecca Miano has announced. During her two-day working tour of Kilifi and Mombasa Counties, the CS stated that the ministry aims to attract 5 million tourists by 2027. This initiative will involve rigorous marketing and resource mobilization […]
Starbucks is dropping its much-hyped range of olive oil-infused coffees in the US and Canada from early November. The announcement comes less than a week after new boss, Brian Niccol, promised to shake up the coffeeshop giant’s menu in an attempt to win back customers. The firm’s sales have been tumbling as consumers see their […]
