By Felix Njini The International Monetary Fund is backing Somalia’s plans to replace tattered currency notes that were printed before the Horn of Africa nation plunged into civil war almost three decades ago.The new Somali shilling notes may come into circulation this year, alongside the dollar that’s been the main means of payment, and will...
The World Bank has approved financing of a $250 million smart agriculture project in Kenya that will run for five years. The project aims to increase agricultural productivity and build resilience to climate change risks in the targeted smallholder farming and pastoral communities in the country. “In the event of an eligible crisis or emergency,...
The Somali Shilling has gained value against the dollar in what financial experts say is a steady flow of new dollar into the Somali market in the last one week. On Friday the Somali Shilling was exchanging at Sh Som 16000 for $1 compared to last week where the exchange rate was at 22300 against...
French automaker Peugeot will open a vehicle assembly plant in Kenya, President Uhuru Kenyatta and France’s Economy and Finance Minister Michel Sapin said after signing a deal on Saturday, APA reports quoting Anadolu agency. Kenyatta said that the $11 million investment by the company “which uses a lion brand” comes at an important time when...
By Mohammed Warsame In light of Djibouti’s fortuitous positioning between East Africa and the Middle East, and on a key trade route between Asia and Europe, the country has long played a central role in regional trading. Increasingly, however, it is looking to parlay that lineage into an even greater role, expanding infrastructural capacity and...
By Nyemudzai Kakore Ethiopian Airlines will commence direct flights to Victoria Falls by March, following the commissioning of the state-of-the-art Victoria Falls International Airport which can now handle wide-bodied planes. This was revealed at a meeting between Speaker of the National Assembly Advocate Jacob Mudenda and Ethiopian Ambassador to Zimbabwe Mr Mustafe Dek Abdisalam last...
WardheerNews (WDN)- Afrika waxa ay hoy u tahay wadamada adduunka kuwa uge horeeya xaga kobcitaanka dhaqaalaha (GDP growth), iyada oo Bariga Afrika,ay horseed u tahay kobocaasi dhaqaale ee ay ku talaabsadeen guud ahaan wadamo badan oo Afrkaan ahi. Horumarka dhinaca dhaqaalaha ee Afrika, waxa uu abuuray in uu kordho dhaqaalaha dad badan oo Afrikaana, taasi...
LONDON, United Kingdom, — The Islamic Economy has seen tremendous increase in recent years transcending its traditional geographic boundaries, its entrance into East Africa could revolutionize the region’s finance & banking sector, Tourism, and Hotel sector and Fast moving consumer goods. To explore how East Africa can tap into the Islamic Economy, with an estimated...
By LESLIE WAYNE An effort by the United States to seize assets from officials who stole their countries’ wealth is now focused on returning the loot without enriching the looters. One would think that an iconic Michael Jackson “Bad Tour” glove, covered in Swarovski crystals and worn on his first solo tour, would rest in a place...
Written By Joshua Masinde, qz At the time of M-Pesa’s launch in 2007, few could have conceived the mobile money service would be as ubiquitous and deeply entrenched in the lives of millions of Kenyans as it is today. A sizable portion of Kenya’s economy is now deeply ingrained in the platform to levels that...