Kenya is on the verge of sealing $1.5 billion loan from UAE to bridge financing gap
Nairobi has had to pay a high price for the financial support it has received. In February Kenya issued a $1.5 billion Eurobond to help it manage maturities, but it paid a steep 10.375 per cent yield for the seven-year bond.
Kenya’s largest telecoms operator raises $117 million with local sustainability-linked loan
The four participating banks in the transaction are KCB, ABSA, Standard Chartered Kenya and Stanbic, Safaricom said, adding that Standard Chartered acted as the lead arranger and bookrunner.
Facebook loses jurisdiction appeal in Kenyan court that grants moderators the greenlight to argue their case
Some of the petitioners argue that their jobs required them to watch horrific content for eight hours a day that overwhelmed many of them while being paid 60,000 Kenyan shillings or $414 a month. They accused Sama of doing little to ensure post-traumatic professional counselling was offered.
JPMorgan boss Jamie Dimon to visit Africa as it seeks to extend its footprints to Kenya, Ghana
JPMorgan Chase CEO Jamie Dimon plans to travel to Africa in mid-October in a push by the biggest US lender to expand on the continent, four sources familiar with the matter said, his first trip there in seven years. Dimon is expected to visit Kenya, Nigeria, South Africa and Ivory...
Kenya strikes ‘deal’ with IMF on economic, fiscal challenges that’s likely to loosen lender’s purse
Kenya agreed a four-year loan with the IMF in 2021 and signed up for additional lending to support climate change measures in May 2023, taking its total IMF loan access to $3.6 billion.
Kenya forecasts budget deficit will fall to 3.5 per cent of gross domestic product next fiscal year
The budget deficit is expected to drop further to 3.3 per cent of GDP in the 2026/27 fiscal year, the finance ministry said in the draft budget outlook paper seen by Reuters on Tuesday.
In wake of anti-tax protests and credit worthiness downgrades, Kenya begins national debt audit
During the height of the protests, President William Ruto appointed a committee to perform the audit. However, several appointees, including the head of the Law Society of Kenya, declined the appointments, saying the task should be carried out by the auditor-general.
Kenyan and Zambian currencies to hold steady against green buck as Nigeria’s and Uganda’s fluctuate
The local unit rallied strongly early this year as concerns eased that the East African country would default on a $2 billion Eurobond that matured in June, but it lost momentum from April onwards.
Strike at Kenya’s main airport causes flight delays, cancellations as workers press for lease deal revocation
The Kenya Airports Authority, which is responsible for managing the airport, said minimal operations at JKIA had resumed by 7:00 am (0400 GMT) and it was engaging with relevant parties to normalise the situation.
Adani fraud: Flights grounded at Kenya’s main airport as workers protest award of tender to Indian firm
The Kenya Airports Authority said in a statement that it was “engaging relevant parties to normalise operations” and urged passengers to contact respective airlines to confirm flight status.
