With no major activities in Kenyan economy, there are questions about the rapid surge of shilling to the US dollar
The rise of the Kenyan shilling brings forth a wave of relief for its citizens, Kenyans have long been battling inflation as of late. President Ruto’s new economic reforms, the paper say, have been the driving force behind the recent strengthening of the shilling against the dollar.
African currencies led by Kenya’s shilling are expected to hold steady against US dollar
The shilling, which is up 18 per cent against the dollar this year, is close to a one-year high, and was last bid at 132.00 per dollar on March 30, 2023, according to LSEG data.
Kenya raises growth forecast in current fiscal year to 6.3 per cent, but doubt persists about unemployment
The ministry had said in February that it expected growth for this year and 2023 would be 5.5 per cent, up from 4.8 per cent in 2022.
Shipping companies worry about impact of return of Somali pirates in Indian Ocean waters on maritime trade
More than 20 attempted hijackings since November have driven up prices for armed security guards and insurance coverage and raised the spectre of possible ransom payments, according to five industry representatives.
You have heard of ‘Google doesn’t forget’, but you didn’t know it has ‘Eyes’ and ‘Ears’ on even your small talk with your spouse
Other privacy concerns include the following: Tracking of your whereabouts 24/7. In 2022, four attorneys general sued Google for its deceptive practices in collecting location data, as they continue to track location data even after users disable location tracking. By tracking your Google calendar entries, combined with your location data, Google also knows what events you’ve attended, when and for how long.
Fly on the wall: Google is a surveillance agency and here’s how you can de-Google your life
Google and its data-siphoning tentacles reach deep into your everyday life, collecting data on every move you make and conversation you have, whether online or in the real world.
Ethiopia’s largest bank loses $40 million after a technical glitch triggered withdrawals frenzy
The bank has not said how much was withdrawn, but Abe told reporters that half a million transactions were made during the glitch. A local newspaper reported that 2.4 billion Ethiopian birr ($42 million) was lost.
News of KCB Group plan to offload National Bank of Kenya spurs jump in shares on Nairobi Securities exchange
KCB has also acquired banks in other markets in the region in recent years, including an 85 per cent stake in Trust Merchant Bank in the Democratic of the Congo completed in late 2022, which has put further pressure on its own reserves.
Ramadhan: Algeria television stations’ advertising frenzy elicits state rebuke for ‘immoral content’
After meeting with station directors on Sunday, Algerian Communications Minister Mohamed Lagab accused networks of not respecting ethical and professional lines, calling their programmatic choices “out of keeping with the social traditions of our society and especially the sacredness of the month of Ramadhan.”
Year-over-year: South Africa’s inflation uptick makes case for delayed rate cuts
The South African Reserve Bank, which targets inflation of between 3 per cent and 6 per cent, will announce a monetary policy decision next week.
