President Museveni appoints son commander of Uganda military fuelling talk of imminent ‘hereditary rule’
Kainerugaba has most recently been serving as a senior presidential advisor in charge of special operations, after his father removed him as infantry commander in 2022. At the time, Kainerugaba was responsible for a series of offensive tweets, including an unprovoked one in which he threatened to capture the capital of neighbouring Kenya. He has previously served as the commander of an elite group of special forces protecting the first family.
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.
Rugby: Stylish Kenya Sevens side seeks to redeem itself at breakdown before Munich round
The top four teams after the Munich leg will qualify for the final tournament in Madrid, Spain, where they will meet the bottom four teams in the World Sevens Series.
Kenyan doctors make good their threat to paralyse services at public hospitals as strike enters week two
The striking doctors accuse the government of failing to implement a raft of promises, including a collective bargaining agreement signed in 2017 after a 100-day strike that saw people die from lack of care.
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.
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The bank has not said how much was withdrawn, but Abe told reporters that half a million transactions were made during the glitch.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.
ATMIS assures Mogadishu its committed to ‘seamless’ transfer of mandate to Somali Security Forces
As part of the transition process, ATMIS withdrew 5,000 troops from Somalia and handed over 13 military bases to the SSF during the first and second phases of the drawdown last year. The third phase, targeting 4,000 troops, is scheduled to be completed by end June this year.
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.
