• Kenya’s economic resurgence in 2024 proving a reality following a notable upturn in recent months, marked by positive indicators across sectors.
• According to CBK, leading indicators point to the continued strong performance of the Kenyan economy in the first quarter of 2024.
• According to the World Bank, Kenya’s economic growth is projected to be 5.2 per cent, boosted by increased investment in the private sector as the government reduces its activities in the domestic credit market.

A strong rebound

Kenya’s economic prospects are looking brighter, attributed to the interventions by the World Bank and the International Monetary Fund, which have played a massive role in easing volatility witnessed less than three months ago.

Major economic indicators in the country show that confidence is slowly creeping back after the government secured the International Monetary Fund’s facility to pay back the Eurobond.

The repayments had triggered volatility in financial markets, including the …

• Cairo, Egypt, holds third place after Athens and Manilla, Philippines.
• India stands out, with three cities being included in the world’s top 10 most stressed cities.
• Los Angeles, US, holds the ninth place with the highest obesity rate on the list.

Experts conducted a study to identify the most stressful cities to live in 2024.  The study measured several parameters including the quality of life, safety, and pollution index as main criteria, also considering the presence of stress-related habits such as smoking rates, obesity, and alcohol consumption. The final score was made, considering all of the mentioned criteria.

The most stressed city in the world is Athens, Greece, with the highest stress levels, which include a low safety index and a high rate of stress-related habits such as smoking, over-eating, and alcohol consumption. Compared to other cities on the list, Athens has the highest smoking rate, with 31.3 per cent …

• Ventures interested in applying for the Investment Showcase can submit applications here by 2nd May.
• To qualify, the ventures must be African, have at least one African co-founder or be headquartered in Africa.
• They must also offer a product or service designed for scalability, and be able to present in person at the Africa Tech Summit (ATS) London.

On June 7th, 2024, the Africa Tech Summit (ATS) London will convene at the London Stock Exchange for its eighth edition, continuing its tradition of fostering business and investment opportunities in Africa and around the world.

This tech conference, known for its dynamic engagement and insight into the African continent’s tech industry, is poised to attract over 300 African and international tech leaders, policymakers, investors, entrepreneurs, and corporates.

The summit’s key event, the Investments Showcase, is inviting African tech ventures to present their business models to a curated audience of potential investors …

• Survey shows 60% of journalists interviewed indicate that their newsroom lacks an AI use case policy.
• However, 20% of journalists revealed that they are planning to explore AI’s potential applications.
• State of Journalism Survey 2024 interviewed 1,106 respondents  across the world.

Media houses are still lagging behind in the push for AI adoption in their line of work with a majority failing to institute AI policies in newsrooms. This is according to a recent survey conducted by Muck Rack delving into the current landscape of journalism, revealing notable trends and concerns among journalists across the industry.

From the findings, 60 per cent of the surveyed journalists indicated that their newsroom lacks an AI use case policy, while only 24 per cent reported having one in place.

This raises questions about whether the absence of policies hinders journalists from exploring AI tools or if other factors, such as a lack of …

• Exclusive pre-congress workshop launched to elevate startups for the global stage
• This year’s startup competition has attracted entrants from 53 countries.
• With cash prizes amounting $60,000, the stakes are high for participants to showcase their innovations.

As the global business community looks forward to the AIM Congress 2024, an exclusive startup workshop has been announced to prepare tech entrepreneurs for the grand stage.

Scheduled for May 7-9, the AIM Congress is set to be a pivotal gathering for industry leaders, policymakers, investors, and innovative startups under the theme “Adapting to a shifting investment landscape: Harnessing new potential for global economic development.”

In preparation for this landmark event, AIM Startup, in partnership with Bloom, is organizing a preparatory workshop designed to hone the skills and strategies of promising tech entrepreneurs. The workshop, aimed at empowering participants to maximize their impact at the congress, is part of a broader initiative by …

• The increasing food prices have majorly occasioned the rise in consumer expenditure. 
• In the review period, 50 per cent of the Kenyans polled indicated static income levels over the last year
• 53 per cent of Kenyans polled allocated less than 10 per cent of their income to travel and leisure expenditures.

• Kenya Ports Authority handled 37,576 metric tons  of cargo in 2023, according to its Managing Director.
• The KPA MD revealed the gantry cranes were procured to the tune of $31,493,808
• One of the notable recent investments by KPA is the construction of the second phase of the Lamu Port.

The Lamu port is poised to become a key driver of economic growth and regional integration, according to industry players.

Kenya Ports Authority (KPA) Managing Director Captain William Ruto said the impressive statistics underscore the vital role that the Lamu port plays in facilitating trade and driving growth in the region.

He added that this results from its container capacity of 1.2 million twenty-foot equivalent units (TEUs) across its three berths of 4000 meters each.

 “The Lamu facility is poised to become a key driver of economic growth and regional integration,” he pointed out.

Captain Ruto disclosed last year that …

• One of the most important ways a fintech can listen to its customers is to gauge how they engage with its products.
• Having a deep understanding of customer needs results in innovative solutions.

All around the world businesses are pulling out the stops to achieve growth in what can best be described as challenging economic conditions. Africa is no exception. The continent has long been recognised for its immense potential, and as such businesses across sectors are investing heavily into the continent.

Advancements in technology make serving the unbanked and underserved populations in Africa more viable than ever before. However, that does not mean growth comes easily. It is a hyper competitive and complex environment where genuinely understanding your customer is key to growth.

Even with this textbook understanding, there is a strong urge to take the “build it and they will come” approach because we can get caught up …

• Level of remote desktop protocol abuse unprecedented since launch of report in 2020.
• External remote services were the number-one way attackers initially breached networks.
• Remote Desktop Protocol is a Microsoft proprietary protocol that enables remote connections to other computers.

Cybercriminals have resorted to the use of remote desktop protocol in executing their attacks on systems according to new findings by Sophos. The Sophos Active Adversary Report for 2024 shows that cybercriminals heavily exploited remote desktop protocol (RDP) in 90 per cent of attacks, marking the highest incidence of RDP abuse since Sophos started these reports in 2021 covering data from 2020.

Remote Desktop Protocol (RDP) is a Microsoft proprietary protocol that enables remote connections to other computers,

The report further says that external remote services such as RDP were the most common vector by which attackers initially breached networks; they were the method of initial access in 65 percent of …

• Remittance inflows for March grew to $407.8 million, up from $385.9 million in February, with the US maintaining its lead as the top source for Kenya’s remittances.
• This was also higher by 14.2 percent compared to the $357.0 million sent in the same month last year (March 2023), according to official data by the Central Bank of Kenya (CBK).
• The cumulative inflows for the 12 months to March 2024 totaled $4.4 billion compared to USD 4 billion in a similar period in 2023, an increase of 10 percent.

Kenyans living and working abroad sent home more money in March, boosting the country’s forex reserves and supporting families and friends.

Remittance inflows for March grew to $407.8 million, up from $385.9 million in February, with the US maintaining its lead as the top source for Kenya’s remittances.

This was also higher by 14.2 per cent compared to the $357.0 million sent …