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Business Kenya

  • Kenya looking to tap new investors to fund big projects. NAIROBI, March 23- Kenya began selling a government bond exclusively via mobile phones on Thursday, a world first aimed at expanding the pool of investors in a country that needs money for infrastructure projects and where many people don't have a bank account. Kenya has borrowed heavily in the past four...

  • CAPE TOWN, March 17- Airbnb expects to maintain its rapid growth in Africa this year and double its customer numbers to 1.5 million, its Chief Executive Brian Chesky and regional head told Reuters on Friday. South Africa, which was an early adopter of Airbnb, is the top-ranked country in Africa in terms of listings and visitors, who mainly come from the United States,...

  • *The central bank has cancelled three auctions in 2017. *Government has raised 117 bln shillings so far. NAIROBI, March 16- A cap on commercial lending rates by the Kenyan government has hurt its own ability to raise funds in the local debt market as it struggles to keep yields below the maximum threshold.

  • *Smugglers bringing in large numbers of weapons from Yemen. Gunmen hijacked the Aris 13, a small oil tanker, on Monday and are demanding a ransom to release the ship and its eight Sri Lankan crew, the EU Naval Force that patrols the waters off Somalia said. We have no government to speak on our behalf, "said fisherman Mohamed Ismail.

  • NAIROBI, March 15- Kenyan President Uhuru Kenyatta brushed off criticism of government borrowing in a state of the nation speech on Wednesday, saying it had funded the most aggressive development drive in the country's history. Kenya's national debt has risen to 50 percent of GDP from 42 percent when Kenyatta came to power, prompting criticism from the...

  • ANTANANARIVO, March 14- Vanilla producers on the tropical island of Madagascar say a cyclone that killed 78 people has also damaged around 30 percent of the crop in the world's biggest producer. Madagascar produces nearly half the world's crop, according the U.N. Food and Agriculture Administration. In 2015, Madagascar was estimated to have produced 3,914...

  • ANTANANARIVO, March 14- Vanilla producers on the tropical island of Madagascar say a cyclone that killed 51 people has also damaged around 30 percent of the crop in the world's biggest producer. Madagascar produces nearly half the world's crop, according the U.N. Food and Agriculture Administration. In 2015, Madagascar was estimated to have produced 3,914...

  • *Eight crew believed on Dubai- owned fuel freighter Aris 13- expert. NAIROBI, March 14- Somali pirates are suspected of hijacking a Sri Lankan-flagged fuel freighter that sent a distress call, turned off its tracking system and altered course for the Somali coast, a piracy expert said on Tuesday. The Aris 13 was believed to be carrying eight crew, said John Steed of...

  • *From Oslo to Sydney, city ties with government strained. OSLO, March 13- Cities from Oslo to Sydney are setting goals to curb climate change that exceed national targets, causing tensions with central governments about who controls policy over green energy and transport and construction. Although there are no officially collated statistics available, many...

  • *Hyperinflation in South Sudan causes loss. *CEO says closing 5-7 outlets in South Sudan. NAIROBI, March 9- A government cap on commercial lending rates is likely to cut KCB Group's pretax profit by 2 percent this year and will mean fewer loans to small and medium sized firms, Kenya's biggest lender by assets said on Thursday.

  • Ashley King-Bischof, founder and CEO of Markit Opportunity

    To help the world's poorest, Markit is using modern technology to connect small farmers and urban wholesale traders in East Africa.

  • A U.S. Border Patrol officer and his K-9 search for a group of illegal immigrants near U.S.-Mexico border on August 15, 2016 in McAllen, Texas.

    The border security market is expected to grow to $23.7 billion by 2025, NBC News reports.

  • NAIROBI, Jan 18- Privately-owned Nakumatt, Kenya's biggest supermarket chain by sales, has agreed to sell a 25 percent stake to a foreign fund for $75 million, part of an effort to bolster its balance sheet and pay off debts, its managing director said on Wednesday. Nakumatt, which started with a single store in Nairobi in 1992, operates 68 outlets in Kenya and...

  • State broadcaster Central China Television has rebranded its international networks and digital presence under the name China Global Television Network.

  • NAIROBI, Dec 2- China's Exim Bank has expressed interest in financing the third section of Kenya's planned rail link with Uganda at an estimated cost of $4.9 billion, a senior Kenya Railways official said on Friday. "China Exim Bank has expressed an intention to finance this," Atanas Maina, Kenya Railways managing director, told a news conference.

  • China has imposed stricter checks on outbound investment deals to safeguard its reserves, the SCMP reports.

  • MERU, Kenya, Nov 11- Kenya is relaxing some of its tea industry rules to encourage production of new varieties in an effort to boost earnings for farmers of the crop, which is now one of the country's top hard currency earners. China still dominates white tea production, but Kenya and other growers are starting cultivation. Samuel Ogola, the interim head of industry...

  • *Kenya is a small, high quality global coffee grower. OTHAYA, Kenya, Nov 9- Kenya plans to increase coffee roasting and is encouraging farmers to link up with foreign partners who can help build markets abroad, to add value to its raw bean exports that are a major source of foreign exchange. Kenya grows just 1 percent of the world's coffee a year, but punches above its...

  • *Kenya, Ghana attract insurers, markets still modest. NAIROBI, Oct 31- Families gather at Nairobi's Garden Square restaurant each evening seeking donations from friends and relatives to meet spiralling medical, school and funeral costs. Changing attitudes and rising disposable incomes in many parts of Africa, from Kenya in the east to Ghana in the west, are...

  • *Property prices drop sharply in Nigeria due to recession. *Nigeria attractive only for high-risk investors with patience. LAGOS, Oct 20- A property market crash in Nigeria offers opportunities for brave investors betting that Africa's most populous nation will deliver high returns when it climbs out of recession.