Kenyan shilling’s haemorrhage against US dollar runs on as Ghana, Zambia’s come under pressure
Ghana’s cedi is expected to come under pressure due to increased demand from the manufacturing and energy sectors amid low dollar supplies, traders said.
‘Visa by another name’, travellers to Kenya tetchy over $30 Electronic Traveller Authorisation fee
The government said the new system was in line with the country’s “security and other strategic interests” and was intended to “boost tourism and attract more foreign investment to Kenya.”
German software firm fined $222m for bribery schemes in Kenya, Tanzania, Malawi and Ghana
The Walldorf, Germany-based company said it “separated from all responsible parties” more than five years ago, and that the accords end all compliance-related investigations in the United States and South Africa.
US consumers group sues Starbucks over human rights abuses on tea and coffee farms in Kenya, Brazil
US National Consumers League said in its lawsuit Starbucks has continued using suppliers after abuses were uncovered, and even certified them as ethical according to purported standards it developed itself.
US, UK forces repel ‘largest attack’ by Houthis as German and Holland skip Red Sea shipping channel
US Central Command said no injuries nor damage were reported, adding that this was the 26th Houthi attack on commercial shipping lanes in the Red Sea since November 19.
United Airlines finds loose bolts on several 737 MAX planes, raising pressure on Boeing aircraft
Alaska Airlines said it was waiting for final revised guidelines from Boeing before it could start inspecting planes and said it was ready to begin as soon as it received required FAA approvals. Boeing said it was staying in close contact with MAX 9 operators and would help customers address any findings during inspections.
Nigerian, Kenyan and Ugandan currencies tumble further against US dollar in January
Commercial banks quoted the Kenya shilling at 157.00/158.00 per US dollar compared with last Thursday’s close of 156.50/157.50.
PMI: Kenya private sector activity declines in December n the back of easing inflation
Inflation slowed to 6.6 per cent year-on-year in December from 6.8 per cent the previous month, data from the statistics office showed.
US weekly newspaper lays off entire staff, halts print after theft of funds by former employee
About a week before Christmas, the Eugene Weekly found inaccuracies in its bookkeeping, editor Camilla Mortensen said. It discovered that a former employee who was “heavily involved” with the paper’s finances had used its bank account to pay themselves $90,000 since at least 2022, she said.
Kenya’s economy grows by 5.9 per cent as inflation eases to 6.6 per cent in December
The East African country’s economy has been among the fastest-growing on the continent in recent years, but a heavy debt load and a weakening currency have emerged as potential problems.
