Friday, October 7, 2022
  More than US$500m to address the COVID-19 pandemic  IFC, a member of the World Bank Group, committed US$5.6billion to private sector development in the Middle East and sub-Saharan Africa in fiscal year 2020, supporting businesses across the two regions to launch, grow, provide jobs and fight impacts of the...
Private sector activity in Kenya grew in June thanks to reduced curfew hours and the relaxation of lockdowns in Europe that boosted demand for exports, but the outlook for the months ahead remains gloomy, a survey showed last week  Friday. The Markit Stanbic Bank Kenya Purchasing Managers’ Index (PMI) stood...
The Kenyan shilling is expected to trade on the back foot this week while that of Tanzania is seen strengthening and the Nigerian, Ugandan and Zambian currencies holding steady. KENYA The Kenyan shilling could come under pressure this week  due to U.S. dollar demand from the energy and manufacturing sector...
Ivory Coast’s Coffee and Cocoa Council (CCC) is introducing reforms aimed at boosting domestic exporters, including by reducing fees they pay when acquiring beans, CCC and industry sources said. The new measures also limit stockpiling of beans by multinational traders that domestic exporters say drive up prices and prevent them...
For Kenyan-based safari operator Safarilink, June is the busiest time of year, as the company’s small planes ferry tourists to national parks in Kenya and Tanzania to witness the majestic annual migration of 2 million animals. This year, the coronavirus outbreak has brought those adventures in Kenya’s Maasai Mara and...
Kenya’s private sector activity inched up in May after falling sharply a month earlier because of restrictions to curb the spread of coronavirus, but conditions are expected to worsen in coming months, a survey showed on Thursday. The Markit Stanbic Bank Kenya Purchasing Managers’ Index (PMI) came in at 36.7,...
Kenya’s shilling is expected to weaken against the dollar this week , while Uganda’s will strengthen, traders said. KENYA The Kenyan shilling could come under pressure from end-of-month dollar demand from the energy sector and multinational companies paying dividends. Commercial banks quoted the shilling at 107.00/20 per dollar, compared with 106.70/90...
Thousands of pregnant girls will attend school in Tanzania as part of a $500-million World Bank loan which had been delayed for years due to the country’s ban on expectant students. Tanzania’s education minister Joyce Ndalichako said the loan aimed to improve access to and the quality of secondary education...
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