Category: East Africa

President Uhuru Kenyatta’s waiver of landing fees for chartered tourist planes received a major boost yesterday when a European charter company promised to ferry tourists into the country starting July. TUI Poland Charter, whose aircrafts have a 180 passenger capacity, said that it will begin flying directly to Mombasa’s Moi International Airport in July this…

Equity Bank spiced up its mobile phone microloans product Friday as it said its customers will now access higher credit amounts that are payable over a longer period through the Equitel platform. The tier I lender said its new “Eazzy Plus Loan” product will enable customers to borrow up to Sh3 million payable within 12…

Kenya’s economy is expected to expand this year and next, helped by low oil prices, improved agricultural output, supportive monetary policy and ongoing infrastructure investments, the World Bank said on Thursday. However, the bank said growth could be held back by domestic factors related to the country’s next presidential election, scheduled for August 2017. “These…

THE Tanzania Revenue Authority (TRA) has once again hit the Tanzania Football Federation (TFF) after it seized the federation’s five vehicles in connection to large outstanding tax arrears worth over 1.1 billion/- that TFF owes the authority. The TRA Director for Tax Payer Services and Education, Richard Kayombo confirmed yesterday in Dar es Salaam that…

The Government of Sudan inaugurated an online trading system of its stock market on March 24, 2016 in the country’s capital, Khartoum – a landmark development in the Sudan’s financial history. Financed by the African Development Bank as part of its Public Financial and Macroeconomic Management (PFM) project, the e-trading system will be instrumental in…

Kenya Airways (KQ) will send home 600 employees in its rationalisation plan starting May 2016. The move, which is part of the struggling airline’s “Operation Pride” turnaround programme, is hoped to fly it to profitability. The move is likely to arouse backlash from the aviation workers’ unions, one of which has been at loggerheads with…

Kenya has scrapped plans for a new terminal building at Nairobi’s main airport due to financial pressures and excess capacity caused by recent upgrades to existing facilities, the Kenya Airports Authority said on Tuesday. President Uhuru Kenyatta launched the $650 million terminal project for Jomo Kenyatta International Airport (JKIA) in December 2013. China’s Anhui Construction…

BOC Kenya has appointed its second female chief executive in a row, retaining its status as one of the few publicly traded firms headed by a woman. The industrial gas manufacturer has appointed Millicent Onyonyi as its new CEO effective April 1, having hired her from oil marketer Oilibya where she has been serving as…

Tanzania has resolved to establish a high-level coordinating committee consisting of private enterprises and government representatives to promote and develop a crude oil pipeline from Uganda to Tanga. In the same development, the country has resolved to promote and develop a regional value corridor that shall link the Indian Ocean to the Atlantic Ocean. The…

Kenya’s ambition of becoming a middle-income economy with per capita income of between $1,045 and $12,736 hangs in the balance as the government struggles to meet key growth targets under its long-term development plan called Vision 2030. Latest data from the Kenya Vision 2030 Delivery Secretariat paints a grave picture of the achievements made in…