BY Stephen Makabila and Abigael Sum Kenya: More than 1.5 million people are currently unemployed in Kenya, with over a third of them being young people between the ages of 15 and 24. Consequently, the country needs to create more than 3.9 million jobs for young people by 2020, according to a study released yesterday...
By Phil Wahba McDonald’s MCD shuttered 350 poorly performing stores in Japan, the United States, and China the first three months of 2015 as part of its plan to boost its sagging profits. Those previously unannounced closings, disclosed on a conference call with Wall Street analysts on Wednesday, are on top of the 350 shutterings...
By Rachel Arthur Wrigley — manufacturer of Big G, PK, Doublemint, Juicy Fruit, and Orbit — said the new plant would help satisfy growing demand in the East African region that the Nairobi-based factory has been serving since 1972. “We have had a vibrant business in East Africa and this factory is expected to meet...
Summery The global recovery remains slow-paced amid a sharp drop in oil prices, divergent monetary policy in advanced economies, and varying economic performance across countries. Sub-Saharan Africa’s growth is projected to slow in 2015 to 4 percent, before picking up moderately in 2016. Slower expansion of economic activity largely reflects the region’s vulnerability to falling...
By Margaret Wahito Nairobi — Kenya is looking forward to grow tourist arrival numbers by the end of 2015, owing to the numerous international events taking place in the country. Kenya Tourism Board (KTB) Managing Director Muriithi Ndegwa says the events provide the country with an opportunity to market its attractions and boost its image...
Poppy Marello Ethiopian Airlines is moving its European hub to Dublin Airport from next month which will see the airline transit 10 transatlantic flights per week through the airport to destinations in the US and Canada. Ethiopian Airline’s daily Boeing 777 flight from Addis Ababa to Washington and its three times weekly Boeing 787 Dreamliner...
Addis Ababa- Kenya’s Ambassador to Ethiopia says that Ethiopia and Kenya need to implement the economic integration agreements they have signed at various times as soon as possible. In an interview with the Ethiopian News Agency, Ambassador Catherine Mwangi said the two nations should realize the Special Status Agreement signed in 2012 as well as...
By Eran Feinstein As Africa continues to make strides in the adoption of new technology, with more mobile, online and credit options available, economies and spending are on the rise as well. Going cashless is safer, more secure and opens up new spending opportunities for Africans of many nations. Mobile opportunity The “Mobile Continent” has...
By BDAfrica.com reporter Safaricom plans to completely shut down its popular money transfer service for about half a day this weekend for testing as it completes “the journey to bring M-Pesa home” — a reference to moving its servers to Kenya. This follows at least two other recent suspensions of the service for routine maintenance...
By Nasseem Ackbarally Routinely appearing at the top of African competitiveness and business environment rankings, Mauritius has carved out a niche as a small safe haven for investors. Even here, however sometimes deals go wrong – in June last year, for example, the owners of the Mont Choisy shopping centre in Grand Baie filed a...