Trending
- Kate Walsh calls for global action to protect the oceans as Kenya hosts historic Our Ocean Conference
- Women’s entrepreneurship and economic empowerment within fisheries value chains
- What healthy, just and resilient food systems should look like in Africa
- Beyond extraction: Singapore offers tech partnership as Tanzania opens door to EAC free trade talks
- Cutting the cost of Africa’s energy transition with the right flexibility mix
- Why fish and fisheries may be Africa’s most overlooked food security solution
- BAT Kenya posts record dividend as illicit trade eats nearly half of cigarette market
- Shipping costs to Mombasa and Dar es Salaam surge as Maersk raises peak season surcharge
Author: Wanjiku Njugunah
Wanjiku Njugunah
Wanjiku Njuguna is a Kenyan-based business reporter with experience of more than eight years.
Equity Group grew the volume of diaspora remittances it processed by 39 per cent in 2021 compared to the corresponding period in 2020 The lender handled Ksh383.5 billion in remittances in the 12 months to December, up from Ksh279.4 billion in 2021 Equity Group CEO James Mwangi attributed this to linkage with multiple digital platforms, which have helped widen the geographical reach in the remittances segment Equity Group grew the volume of diaspora remittances it processed by 39 per cent in 2021 compared to the corresponding period in 2020, leveraging on the growing popularity of digital channels for sending money…
Sub-saharan Africa now faces new economic growth challenges, compounded by the Russian invasion of Ukraine A World Bank report estimates growth at 3.6 per cent in 2022, down from 4 per cent in 2021 as the region continues to deal with new COVID-19 variants, global inflation, supply disruptions and climate shocks Resource-rich countries, especially their extractive sectors, will see improved economic performance due to the war in Ukraine, while non-resource-rich countries will experience a deceleration in economic activity As the Sub-Saharan African economy struggles to recover from the 2020 recession induced by the COVID-19 (coronavirus) pandemic, the region now faces…
African Development Fund has approved $5.5 million technical assistance grant to support projects Eastern Sahel region countries of Djibouti, Eritrea, Ethiopia and Sudan The East Africa Regional Energy Project will be financed through the ADF-15 Regional Public Good window of the African Development Fund, the concessional arm of the African Development Bank Group It will develop technical studies for regional solar parks and associated battery storage near regional energy inter-connectors, high-voltage cables that connect the electricity systems of neighbouring countries The African Development Fund has approved a $5.5 million technical assistance grant to begin the roll-out of the flagship Desert…
Kenya’s PesaLink payments ecosystem has signed a Memorandum of Understanding (MoU) with Mastercard to create innovative, digital-first payment solutions PesaLink will leverage Mastercard’s technology, expertise, partnerships, and cyber intelligence solutions to diversify its payment capability beyond person-to-person payments Mastercard will collaborate with PesaLink to expand its services to include a direct-to-consumer digital proposition, agent banking and solutions for business and government payments Integrated Payment Services Limited (IPSL) which runs the PesaLink payments ecosystem has signed a Memorandum of Understanding (MoU) with Mastercard to create innovative, digital-first payment solutions designed to boost the adoption and usage of digital payments and accelerate…
The hospitality sector has been challenged to adopt innovative tech-based solutions to grow and survive the adverse impact of Covid-19 Pesapal Executive Director Agosta Liko said the travel and hospitality sectors should embrace and adopt agile technology as part of their recovery plans Sarova Hotel Group Revenue Manager Felix Musa said that the hospitality industry is no exception The hospitality sector has been challenged to adopt innovative tech-based solutions to grow and survive the adverse impact of Covid-19. Speaking during a stakeholder engagement session hosted by Pesapal, a payment solutions provider with operations in Kenya and across East Africa, the…
Stanbic Bank Kenya and the African Guarantee Fund for Small & Medium-sized Enterprises (AGF) have signed a Loan Portfolio Guarantee Facility to increase financing for SMEs The Portfolio Guarantee Facility of KES 1 Billion will allow Stanbic Bank Kenya to expand their lending capacity and coverage to SMEs The partnership agreement between Stanbic Bank and African Guarantee Fund targets women-owned businesses, as well as those in the sustainable energy sector Stanbic Bank Kenya and the African Guarantee Fund for Small & Medium-sized Enterprises (AGF) have signed a Loan Portfolio Guarantee Facility to increase financing for Small and Medium Enterprises (SMEs).…
Cross River State has invited investors into various sectors of its economy, as part of plans to grow its economic development The southern Nigerian state also has several opportunities in the green economy, mostly in agribusiness Cross River State also offers opportunities in the blue economy, including at the port, as well as shipping The government of Cross River State has invited investors into various sectors of its economy, as part of plans to grow its economic development. The CEA of Cross River State Francis Ntamu told The Exchange Africa exclusively that there were several opportunities including in the green…
The United Arab Emirates (UAE) has announced interest in investing in the Democratic Republic of Congo (DRC)’s solar energy sector The MoU was signed between DRC’s state electricity company Société Nationale d’Électricité (SNEL) and AMEA Power World Bank data indicates that DRC has a population of 84 million people, but only 19 to 20 per cent of the population have access to electricity The United Arabs Emirates (UAE) has announced interest in investing in the Democratic Republic of Congo (DRC)’s solar energy sector. The countries, through two companies, entered into a Memorandum of Understanding (MoU) to pave way for the…
Japan has announced plans of investing $42 billion in India over the next five years to boost trade and cooperation between the two Asian nations Prime Minister Fumio Kishida said the investment would be spread across several industries, including green energy and urban infrastructure The two countries also committed to strengthening securities ties across the Indo-Pacific region during the visit Japan will invest $42 billion in India over the next five years to boost trade and cooperation between the two Asian nations. Japan’s Prime Minister Fumio Kishida said the investment would be spread across several industries, including green energy and…
Equity has recorded a 99 per cent rise of its net profit to reach KSh 40.1 billion from KSh 20.1 billion Net interest income grew by 25 per cent to KSh 68.8 billion, up from KSh 55.1 billion, driven by a 23 per cent growth in loan book to KSh 587.8 billion Equity Group CEO James Mwangi said the bank has now strategically positioned itself as a systemic regional diversified business in six countries Equity Group has recorded superior performance for the year ended 31st December 2021 despite the challenging operating environment of a global COVID-19 pandemic. Profit After Tax…