Moodys Aaa Afdb

Moody’s Downgrades Kenya’s Credit Rating After Finance Bill 2024 Collapse

Moody’s Downgrade: A Wake-Up Call for Kenya Moody’s Investors Service downgraded Kenya’s credit rating from B3 to Caa1 after the Finance Bill 2024 failed to pass. This bill aimed to increase government revenue but was abandoned due to public opposition and concerns about its economic impact. As a result, Kenya’s fiscal deficit is projected to…

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Kenya Mobile Cash Industry

Kenya’s Digital Gold Rush: Unlocking the Financial Markets Potential using Mobile Phones

The Mobile Revolution Kenya, with over 32 million smartphones in use, is undergoing a financial transformation. Mobile money platforms like M-Pesa have revolutionized transactions, allowing many Kenyans to save, send, and receive payments without traditional banking. This change has been pivotal for 44% of the population previously excluded from formal banking services. Now, a new…

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Africhange

Nigerian Fintech Africhange Launches in the UK, Revolutionizing Nigerian Remittances

Africhange, a Nigerian fintech company, has launched its operations in the UK. The company aims to meet the growing demand for convenient remittance services between the UK and Nigeria. This expansion marks a significant step for Africhange as it seeks to provide a seamless and cost-effective platform for money transfers across various regions. Global Reach…

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Mpesa Dahabshill Agreement

M-Pesa and Dahabshiil Forge Landmark Deal to Simplify Remittances for Ethiopians Abroad

M-Pesa, a leading mobile money service, has signed an agreement with Dahabshiil, a major money transfer firm, to facilitate direct remittances to Ethiopia. This move is set to enhance financial inclusion and ease the money transfer process for Ethiopians living abroad. Convenient RemittancesThe collaboration aims to simplify how the Ethiopian diaspora sends money home, offering…

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Container Ship In Import Export And Business Logistic.by Crane ,

Mombasa Port Boosts Efficiency: Pre-Arrival Clearance Slashes Wait Times Amid 6.5% Import Surge

Surge in Import Traffic Mombasa Port has seen a 6.5% rise in import traffic, reaching 28,445 thousand metric tonnes to mid 2024, up from 26,713 thousand metric tonnes in mid 2023. This surge has prompted key agencies to enhance the pre-arrival clearance process, expediting cargo handling. Pre-arrival Processing The Kenya Revenue Authority, Kenya Ports Authority,…

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Digital Credit Providers

Kenya’s Digital Lending Boom: Central Bank Licenses 7 New Credit Providers, Expands to 58

The Central Bank of Kenya (CBK) has taken another significant step in regulating the burgeoning digital credit sector. On June 27, 2024, CBK announced the licensing of seven more digital credit providers (DCPs), pushing the total number to 58. This move underscores CBK’s commitment to creating a well-regulated environment that fosters innovation while protecting consumers….

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China Neta Ev Enter Kenyan Market

Chinese EV Giant Neta Launches Affordable Electric Cars in Kenya, Sparking Green Revolution

China’s electric vehicle (EV) manufacturer, Neta, has officially entered the Kenyan market. This move marks a significant step in the expansion of Neta’s global footprint and underscores the growing importance of Africa as a market for EVs. The entry of Neta into Kenya is expected to stimulate competition and offer Kenyan consumers more choices in…

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Internet Revolution: How Starlink Is Transforming Kenya Amid Unrest and Outages

Amid political unrest in Kenya, the reliability of traditional internet infrastructure has come under scrutiny. On a recent Tuesday evening, internet speeds were throttled during anti-government protests, leading to public outcry. Kenyans turned to Virtual Private Networks (VPNs) to maintain their online connectivity. The Communications Authority of Kenya (CAK) denied any plans for an internet…

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