29 December 21

Paris Club Denies Kenya’s Request for Debt Relief as Slowed Post-Covid Economic Recovery Hampers Government Revenues

The Paris Club has denied Kenya’s request for extended debt relief. The East African nation has seen revenues plummet as slowed economic recovery from COIVD 19 bites. The Treasury wrote to the club asking for a debt relief of about
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24 December 21

Kenya Airways to Get $1.2 Billion In Bailout Cash from Kenya’s Treasury Department in Bid to Revive the Ailing Carrier

Kenya’s national carrier Kenya Airways (KQ) will receive a bailout of nearly $1.2 billion from the Kenyan government. The move was announced by the cabinet secretary in charge of finance Ukur Yatani. The bailout is designed to help the ailing
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16 December 21

Uber Kenya Partners with Electric Vehicle Company Opibus to Offer Electric Motorcycles in Its Rideshare App

Uber Kenya has announced new plans to start offering electric motorcycles as part of its rideshare app. The US-based company is partnering with electric vehicle maker Opibus to make this happen. There was no timeline given though as to when
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13 December 21

Kenya Airways Launches Direct Flights from Juba to Khartoum as It Looks to Take Advantage of Normalized Relations

Kenyan national airline Kenya Airways has announced new flights directly from Juba to Khartoum. KQ is looking to cash in on increased normalization of relations between Sudan and its runaway neighbor South Sudan. The move is also part of KQs
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06 December 21

MTN Uganda’s IPO Fails To Hit Fund Raising Target Despite Public Fun Fair

MTN Uganda has failed to hit its expected fund-raising target after its much-publicized IPO. The IPO, which was highly restricted to East African investors, was a much-hyped affair. The IPO was also heavily discounted in a bid to attract investors.
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01 November 21

Boom For the Nairobi Stock Exchange as Foreign Investors Stream Back in Huge Numbers

The Nairobi Stock Exchange is starting to dream of better days ahead as foreign investors troop back in. The bourse, which is the largest in East and Central Africa in terms of market capitalization, has seen a 64% jump in
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01 November 21

Tullow Begins Search for New Partner as It Looks to Ramp Up Oil Production in Kenya’s Turkana County

British oil company Tullow is looking for new Kenyan partners to help accelerate plans to commercially produce oil in Kenya’s Turkana County. Tullow notes that it is looking for a strategic partnership that would streamline, and to some extent, reduce
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06 October 21

MTN Uganda to float $1.2 Billion IPO in the Uganda Securities Exchange

MTN Uganda has announced plans to float its first IPO in the Uganda Securities Exchange. The telecoms company is hoping to raise $1.2 Billion and would offer a fifth of its business to investors in return. The IPO will be
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22 September 21

Fuel Prices in Kenya Hit Historic Highs as Inflation Looms.

Fuel prices in Kenya have hit an historic high. A sharp rise in fuel prices amidst the pandemic sparked protests from legislators and motorists across the country. Fueled by the pandemic, the price of petrol in East Africa has seen
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24 June 21

East African Countries Unveil Optimistic Budgets as They Recover from an Economic Slump

East African countries have tabled their budget allocation as they prepare for uncertain economic times . However, the budgetary estimates paint an optimistic future buttressed by tax waivers and economic incentives. In uncertain times, the countries have put in place
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