30 July 22

Kenyan banks instructed to close accounts belonging to Flutterwave and Chipper Cash

The central bank of Kenya last week issued a directive to banking institutions in Kenya to shut down all accounts belonging to payment technology Flutterwave and Chipper Cash. This directive will also include freezing the cash from these payment technologies.
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27 July 22

Kenyan Authorities Say There Is ‘High Risk’ Jackpot Winnings Are Tied to Money Laundering.

There has been a realization by the financial authorities in Kenya the lucrative jackpot prize money can be a potential for money laundering activities. A report launched by Fred Matiangi, the interior cabinet secretary, draws suspicion on the origins of
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23 July 22

Kenyan Inflation Shoots To A New Record High Of 8.3 Percent.

The Kenyan inflation has hit another record high after it supersedes last month’s record of 7.9 percent to now 8.3 percent. The current inflation rate is at a 61-month high despite central bank fiscal policy and state subsidies on key
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20 July 22

Kenyan Government Abandons Lamu Port Deal with DP World

In June this year news surfaced that the Kenyan government was in advanced talk with DP World, a Dubai-based company, to obtain the right to modernize and develop port infrastructure, management, and expansion of both logistics and transport. At the
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18 July 22

Kwale Titanium Mines Sales On The Rise.

Yesterday an Australian multinational mining company reported high sales numbers for the month of June. This high-profit margin record came despite less production output so far this year. The numbers in detail So far this year the mining company recorded
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15 July 22

Taxi Company Bolt Set to Open Africa Hub in Nairobi

Bolt an e-taxi company founded originally in Estonia has now announced it will be opening its regional hub in Nairobi Kenya. The new hub will be located on the riverside drive. This will be the first centralized African office and
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11 July 22

Kenyan Inflation Hits 58-Month Record as Cost-of-Living Surges

The Kenyan rate of inflation has surpassed the previous limit set by the central bank of Kenya. The current rate is the highest in nearly five years. The Figures At The Moment The inflation rate in Kenya reached a climax
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01 July 22

Tanzania Hit Traders With Nearly Double Export Fees.

There was confusion the whole of the last week at the Kenya-Tanzania border as hundreds of trucks were left stranded. This came after a sudden hike in the cost of export permits. Truck drivers who usually pay sh27000 were surprised
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26 June 22

Safaricom Loses Fight Over DSTV Pirating Dispute.

Finally, after a gruesome court battle, it seems like multichoice ltd, the company that owns pay television service DSTV will have the last laugh over the internet service provider Safaricom. Multichoice had taken to court in 2019 accusing the network
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07 June 22

GDP Growth Projections Rank Kenya Behind Its East African Partners

According to the latest forecast by the African Development Bank (AfDB), Kenya’s GDP growth in 2022 will trail that of other East African countries, except Burundi and Tanzania. This is partly due to the rising inflation in Kenya. An annual
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