Bruised by fluid stock market, Chinese finance sector executives rush into banned bitcoin
After Hong Kong’s open endorsement of digital assets last year, Chinese citizens are also using their $50,000 annual forex purchase quotas to move money into cryptocurrency accounts in the territory. Under Chinese rules, the money can only be used for purposes such as overseas travel or education.
US aviation woes persist as Boeing 757 loses nose wheel while during take-off in Atlanta
The report said the aircraft was lining up and waiting for take-off when the “nose wheel came off and rolled down the hill.”
Bank of Tanzania sets new policy rate at 5.5 per cent
Inflation in the East African nation fell to 3 per cent in December from 3.2 per cent in November.
Finance Minister: Kenya receives $210 million in loans from Trade and Development Bank
In a letter to the IMF published on Thursday, Ndung’u and the central bank governor said Kenya intended to go to international bond markets as soon as the market situation allowed.
African currencies under pressure but Ghana’s cedi to hold firm as Kenya’s slips to Ksh165 to the dollar
The Ugandan shilling is expected to trade in a stable range as dollar inflows from commodity exporters match low importer demand. Commercial banks quoted the shilling at 3,800/3,810, compared with last Thursday’s close of 3,795/3,805.
In Africa’s first ‘safe city’ surveillance reigns but crime levels are rising as CCTV cameras don’t work
Nairobi launched its massive traffic surveillance system in 2014 as the country was grappling with a terrorism crisis. A series of major attacks by al-Shabab militants, including the September 2013 attack at Nairobi’s Westgate shopping complex in which 67 people were killed, left the city reeling and politicians under extreme pressure to implement solutions. A modern, digitized surveillance system became a national security priority. And the Chinese tech hardware giant Huawei was there to provide it.
Hopes of Kenya tapping into bond market knocked back by IMF’s concern the country ‘is at a high risk of debt distress’
Rising social discontent, mainly driven by the high cost of living, was further compounding the challenges which also include underperforming revenue collection, the IMF said.
Shanghai singles struggle to marry as China’s economy tanks, fertility rates plummet
Last year, President Xi Jinping said it was necessary to “actively cultivate a new culture of marriage and childbearing” to foster national development. Local governments have also announced various measures to encourage new families, including tax deductions and housing subsidies,
Tanzania lifts ban on Kenya Airways flights after talks between the East African neighbours
In a tit-for-tat move, Tanzania announced on Monday it had banned Kenya Airways flights after Nairobi refused to grant a request to Tanzania’s national carrier Air Tanzania to operate cargo flights between both nations.
Vodafone signs $1.5b Microsoft deal with 300 million businesses for AI, cloud and IoT services
Vodafone’s M-PESA mobile money platform, which operates in Kenya, Tanzania, South Africa and other African countries, shared the same objectives as Microsoft in the region, such as building digital literacy.
