This is the face of new, high-end hotels in Africa. International hotel developers are planning nearly 40,000 new rooms across Africa in the coming years. Travel and tourism in Africa generates about $164 billion a year, 9 percent of the continent's total GDP, said David Scowsill, president and chief executive of World Travel& Tourism Council.
NAIROBI, Oct 1- Kenya wants licensed oil and gas explorers to speed up their work to meet the terms of their contracts, and may invoke its right to cash in their guarantees if they fail to do so, a senior Ministry of Energy official said.
NAIROBI, Oct 1- Kenya's central bank said that its official usable foreign exchange reserves. fell to $5.163 billion in the week to Friday from $5.190 billion the previous week. Here are highlights from its latest weekly bulletin:.
NAIROBI, Oct 1- The Kenyan shilling. So more liquidity in the market, more spending, more importing, more pressure on the shilling, "said Peter Mutuku, a trader at Bank of Africa. GDP figures show that the economy is slowing down, so you will probably see the MPC trying to give some impetus to the economy, "said Chris Muiga, a trader at Kenya Commercial Bank.
NAIROBI, Oct 1- Kenya's central bank sought to absorb 12 billion shillings in excess liquidity through repurchase agreements, it said on Monday.
*If successful, would be Tullow's second oil discovery in Kenya. NAIROBI, Oct 1- British explorer Tullow Oil Plc and its Canadian partner Africa Oil Corp started drilling a third well in Kenya, extending a campaign to discover more reserves after finding oil in the east African country earlier this year.
*NAIROBI- Industry regulator Tea Board of Kenya releases performance report. global growth, with data from Japan to China underscoring sluggish business. weakness in China and Japan as well as persistent worries about the.
NAIROBI, Oct 1- Egypt's Citadel Capital could be an investor in Uganda's proposed $2.5 billion oil refinery project, the Egyptian private equity firm's managing director said.
The Greek drama plays on, and the Canadian dollar gets a lift - it's time for your FX Fix.
The recent media interest in the use of mobile phones to make donations to the Haiti appeal has cast light on the potential of mobile technology to transform the way we send and receive money in the future.
This special Fast Money Final Trade is designed for those of you playing CNBC’s Million Dollar Portfolio Challenge. They’re all high risk and high reward plays.
Frontier markets grabbed the headlines Monday after Kenya’s biggest IPO sent shares of one stock surging 60%. But is the risk worth the reward?
Kenya is the regional hub for trade and finance in East Africa. Agricultural output was reduced by a severe drought in 1999 and 2000, and recovery has been limited by widespread governmental corruption and by low prices for several primary exports. The International Monetary Fund has repeatedly suspended loans to Kenya (in 1997, 2001, and 2006) because of corruption, but GDP grew more than 5% in 2006.