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Author: Kiptoo Kosgei
The 2022 Africa Wealth report by Henley & Partners and New World Wealth ranked Kenya as the fourth country in Africa with the highest number of dollar millionaires.
Kenya has over 340 individuals with a net worth of US$10 million (Sh 1.19 billion). The political elite form the bulk of these moneyed individuals.
With rich pockets, most millionaires have acquired helicopters to help them move around the country for leisure, business, and politicians – to popularise themselves.…
African countries have started recovering from the effects of the COVID-19 pandemic after most economies shrunk due to the crisis.
The continent is home to over a billion people who live in low, lower-middle, upper-middle, and high-income countries.
The economy in the Sub-Saharan Africa (SSA) region is projected to expand by 3.6 per cent in 2022, down from 4 per cent in 2021, according to World Bank.…
The video-sharing app, TikTok, has created millionaires since it was launched in 2016 by China’s ByteDance Ltd.
A report by Forbes revealed that the highest-paid celebrities on TikTok took home US$55.5 million in 2021, a 200 per cent increase from 2020.
The report indicated that TikTok stars earn 30 to 50 per cent of their money from sponsored content. Sponsored content involves sharing posts that are paid for by companies advertising their products on the platform.…
Hopper HQ, an Instagram scheduling, planning and analytics firm, released the list of the highest paid public figures on the social media service.
The Instagram rich list 2022 comprises big names in the continent who rake in millions per post, considering they have millions of followers.
According to Hopper, top on the Instagram rich list in 2022 is Egyptian professional footballer Mohammed Salah, who plays as a forward for English Premier League side Liverpool. Nigerian singers Davido and Yemi Alade were ranked second and third, respectively.
Africa’s Instagram rich list
- Mohamed Salah
The Egyptian winger is ranked the highest paid Instagram influencer in 2022. Salah boasts 52.1 million followers on Instagram. As of Thursday, July 21, he had shared 836 posts.
According to Hopper, Salah earns US$275,000 per post. Salah’s net worth is estimated at US$40 million.
- David Adeleke (Davido)
David Adeleke is popularly known by his stage name Davido.
In the last few years, content creation has picked up pace after the platform was monetised. Vloggers are now making millions from YouTube as they use their channels to advertise.
In Africa, the richest YouTubers smile all the way to the bank based on their views and impressions from their audience.
Content creators on YouTube also rake in money through sponsorships, affiliate links, and selling digital products.…
The United Nations (UN) recognises about 180 currencies in the world as legal tender. Have you ever asked yourself which one is the strongest?
The United States (US) dollar has been for decades, used as a fixed-based currency because it’s used in most foreign markets.
The strongest currency, therefore, is one that yields the smallest exchange against the dollar. This means that the strongest currencies are those that are more expensive than the US dollar.…
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The summit that will be held from Tuesday, July 19, until Friday, July 22, will focus on economic recovery post-COVID-19 pandemic
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The 2022 summit is being held under the theme “Building Forward Together” and will explore investment opportunities amid rising inflation and high cost of living
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Morocco had in 2020 been selected by the CCA Board of Directors to host the conference, which was cancelled due to the COVID-19 pandemic
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It’s the first time Corporate Council on Africa (CCA) organised the summit on African soil
The four-day 14th United States-Africa summit began on Tuesday, July 19, in Marrakech, Morocco.
The summit that will be held until Friday, July 22, will focus on economic recovery post-COVID-19 pandemic. It will provide opportunities for the Joe Biden-led administration and its partners in Africa to enhance their bilateral relations.
The 2022 summit is being held under the theme “Building Forward Together”. For four days,
A statement posted by Equity Bank on its website indicated the plan hopes to revive the economy in the continent following the COVID-19 pandemic that halted operations in different sectors leading to the loss of jobs.
In this, AfCFTA and Equity will work on the private sector economic recovery and resilience stimulus plan where the lender has seeded with a $ 6 billion (Sh 678 billion) fund focusing on food and agriculture, extractives, manufacturing and logistics, trade and investments, social impact, health and environmental investments.
Equity plans to finance over five million micro, small and medium-sized businesses (MSMEs) and 25 million vulnerable households by 2025 to support the creation of 50 million jobs.…
- The bilateral pacts were signed at State House, Nairobi and witnessed by President Uhuru Kenyatta and his Bissau counterpart Umaro Sissoco Embaló
- Top on the list of agreements was a deal to establish a Joint Commission for Cooperation (JCC)
- The duo signed a Memorandum of Understanding (MOU) on the establishment of Political and Diplomatic Consultations between the two countries
- Uhuru later met his Somalian counterpart Hassan Sheikh Mohamud and signed several agreements aimed at restoring ties between Nairobi and Mogadishu following a diplomatic standoff
On Friday, July 15, Kenya and Guinea Bissau inked three deals as the two countries continue to bolster bilateral relations.
The bilateral pacts were signed at State House, Nairobi and witnessed by President Uhuru Kenyatta and his Bissau counterpart Umaro Sissoco Embaló who led a delegation to the East African country.
Deals signed between Kenya, Guinea Bissau
Top on the list of agreements was a deal
The United States (US) Senate has approved the nomination of Meg Whitman as the US ambassador to Kenya.
Whitman is one of the richest Americans. According to Forbes, her net worth is estimated at US$2.9 billion (Sh 343.3 billion). She sits on the boards of Procter & Gamble and General Motors.
The 65-year-old was vetted by the US’s Senate Foreign Relations Committee following her nomination by President Joe Biden in December 2021.…