The weakening of the shilling lifted Absa Bank Kenya’s debt load by Sh4.2 billion to Sh24.02 billion in the 12 months to December 2023, despite the lender not making new foreign currency borrowings in the period.
Kenya and Uganda are banking on cross-cultural tourism to help boost tourism visitor numbers and revenue between the two countries.
Jubilee Health Insurance has unveiled a premium health cover targeting expatriates and high net-worth individuals, who frequently travel abroad in a bid to ensure they receive top-tier medical care in any part of the globe.
Bondholders realised a profit of Sh4.6 billion from selling the 6.5 and 8.5-year infrastructure bonds in the secondary market in March, taking advantage of a rush to acquire the high-return securities ahead of an expected decline in rates in the market.
Electronics and fashion products have continued to dominate the highest expenditure categories of consumer goods bought by Kenyans through e-commerce platforms, even as spending on beverages and food orders declined during the year ending last December, a new report shows.
A key power line linking Kenya to Zambia through Tanzania is set for completion in November 2025, raising hope for cross-border electricity imports and exports among nations covered by the high-voltage grid.
The number of betting firms licensed to operate in Kenya increased by 29 from September last year as increased taxation failed to deter the entry of more players into the multi-billion-shilling industry.
Marketing and communications firm WPP Scangroup is planning to sell its business in South Africa and wind up several dormant units, coming months after it sold its operations in Nigeria.
The Court of Appeal has ordered the National Social Security Fund (NSSF) to pay a tech firm Sh103.4 million for breach of contract after it unprocedurally terminated an agreement with it.
The social psychologist Jonathan Haidt’s new book The Anxious Generation delivers an urgent call for action.
Nine out of every 10-dollar millionaires in Kenya are renting out their second homes, according to findings from the Knight Frank Wealth report.
The families of Jomo Kenyatta and former Central Bank of Kenya Governor Philip Ndegwa, I&M Bank founder Suresh Shah and Equity Group chief executive James Mwangi are among the top beneficiaries of the combined Sh63.1 billion dividends that Kenya’s listed banks will pay.
An aerial view of the Musambwa Main Island. PHOTO | MAKERERE UNIVERSITY/ CROSS-CULTURAL FOUNDATION OF UGANDA.
Musambwa Island in Uganda is one of the strangest and weirdest places on Earth. Surrounded by the serene waters of Lake Victoria, it’s a gem of mythical wonders. It boasts a cultural mosaic fused with superstitions that have fascinated visitors from around the world for generations.
Civilians arrive to a shelter at the United Nations Mission in the Republic of South Sudan (UNMISS) compound on the outskirts of Juba, South Sudan on December 17, 2013. PHOTO | REUTERS
The United Nations Mission in South Sudan (UNMISS) said on Tuesday that it deployed additional peacekeepers and launched urgent patrols, following fresh outbreaks of intercommunal violence in Western Equatoria and Eastern Equatoria states.
By News Agency , Agency
Amid a debate on Prime Minister Narendra Modi’s remarks that “Congress wants to
By News Agency , Agency
At the 21st Huawei Analyst Summit, Huawei's rotating chairman, Eric Xu, urged developers to collaborate on the development of native apps for the company's mobile operating system HarmonyOS.
By Guardian Correspondent , The Guardian
MARYPRISCA Mahundi, Information, Communications and Information Technology deputy minister has encouraged school headmasters/ headmistresses to establish digital clubs as they will help youth in boosting creativity and innovations.
DAR ES SALAAM: THE President’s Office – Planning Commission has introduced an economic advisory team that will work for the next three months to develop the new Macroeconomic Policy Framework.
The team was unveiled by the President’s Office – Planning Commission Executive Secretary, Mr Lawrence Mafuru, at a public lecture held in Dar es Salaam recently.
Chief Economist at Oxford Policy Management, Dr Stevan Lee, facilitated a public lecture to kickstart the process of developing the new Macroeconomic Policy Framework.
The National Macroeconomic Policy System, established on April 25, 2024, aims to improve the management of the national economy by setting parametres, goals, and new strategies to be used by different actors, including decision-makers and sector implementers in a planned and coordinated way.
“This work comes almost 20 years since the last Macroeconomic Policy Framework of 2005/06 – 2007/08 was created, and is envisioned to be a new stepping stone for sustainable economic growth in Tanzania in line with the Vision 2050 that is currently under development.
ALSO READ: Tanga Port sees booming cargo volume after facelift
“The National Macroeconomic Policy Framework, which kickstarted on April 25th, 2024, aims to improve national economic management by setting up new parameters, goals and strategies to be used by different actors, including sector decision-makers and implementers in a structured and coordinated manner,” said Mr Mafuru.
The Economic Advisory Team, which includes stakeholders from various sectors, will assist the Planning Commission in preparing a new Macroeconomic Policy System in time.
“The Tanzania Macroeconomic Policy Framework development process is being spearheaded by the Tanzania President’s Office Planning Commission, which has the mandate to oversee the formation of national long-term and short-term development plans and visions, conduct periodic assessments of key economic variables, assess the performance of existing national policies, and strengthen the formation and implementation of new policies,” Mr Mafuru said.
The Zanzibar Planning Commission Executive Secretary, Dr Rahma Salum, said the Macroeconomic Policy Framework will help to have a policy that can integrate economic indicators and help plan the direction of the country.
“Since we are in the process of developing the 2050 vision, we should find tools that will help us to reach the goals of 2050,” said Ms Salum. Ms Salum noted that since there are major technological changes in the world and climate change, it is important to set the indicators well in order to be able to achieve the goals they set for themselves.
Jeddah, Saudi Arabia: Saudia, the national flag carrier of Saudi Arabia, announced that its brand value has grown by 58 percent since 2021, according to the Brand Finance® Top 50 Airline brands annual report.
ZANZIBAR: ZANZIBAR has launched campaign to promote domestic use of seaweed products as part of efforts to expand the market of the spices in the country.
DODOMA: Minister for Minerals, Mr. Anthony Mavunde, tabled his docket’s 2024/25 spending plan on Tuesday, seeking lawmakers’ approval for a total of 231.9bn/-.
DAR ES SALAAM: In an age where digital identities hold as much importance as physical ones, Ramadhani Ngozi, commonly known as Rama Ngozi, has emerged as a beacon of cyber-security, focusing on account verification and ensuring the security of social media users.
By Guardian Reporter , The Guardian
AFRICAN Development Bank Group (AfDB) has emphasized the critical need for significantly increased financing to meet the Sustainable Development Goals (SDGs), since an annual financial shortfall of $4 trillion, threatens to derail efforts to achieve the SDGs by 2030.
By Enock Charles , The Guardian
Economic experts call for a fresh national vision spanning 2025 to 2050, emphasizing poverty reduction through people-centered development strategies.
By Guardian Reporter , The Guardian
FARMERS, livestock keepers received a total of 1.7trn/- financing during 2023, three times of the amount recorded in 2022.
By Restuta James , The Guardian
UNIVERSITY and college graduates and students have been urged to utilize education opportunities offered by the international internship programmes.
By Carlos Banda , The Guardian
TANZANIA Atomic Energy Commission (TAEC) is in the final stages to complete scholarship plan for Tanzanian youth to pursue nuclear science and technology programmes to ensure the country has more nuclear experts.
By Guardian Reporter , The Guardian
PRESIDENT Samia Suluhu Hassan has underscored the importance for the forthcoming World Bank’s International Development Association (IDA-21) cycle to
By Guardian Correspondent , The Guardian
TANZANIA Trade Development Authority (TANTRADE) and the International Trade Centre (ITC) have commenced the process of adding value to goods produced in the country through improvement of international business information systems.
By Francis Kajubi , The Guardian
SPECIAL Seats MP Shally Raymond (CCM) has urged the government to abolish the death penalty due to many sentences not being carried out due to various reasons including the right to life.
By Getrude Mbago , The Guardian
FISHERIES sector experts from four countries surrounding Lake Tanganyika are meeting in Dar es Salaam for three days to agree on the best ways to safeguard reproduction areas for sardines, sprats and perches in the lake.
Twenty years ago, a person in Mufindi would have to travel a long distance just to access an ATM machine that belongs to their bank. Today, like most things around us, technology has advanced. Banks can now enable their customers to withdraw cash from any ATM regardless of its ownership. If you wonder how that happened, then UBX is your answer.
When it first started in 2000, Intrinsic Technology Tanzania Ltd (ITT) was a software and computer services company with a handful of clients and staff. Later on in 2004, it was acquired by a South African company and gained a new name – Business Connexion Tanzania (BCX). It wasn’t until 2021, when it was acquired by Umoja Switch Company Limited (USC) that it gained the name that it has now – UBX Tanzania Limited.
This has been more than a progression of name changes. For more than two decades in Tanzania, UBX has been at the forefront of transforming lives through technology. With more than 100 corporate clients served, more than 1000 projects completed, their services have reached more than 5 million consumers in Tanzania, Mozambique and Malawi.
The power of interoperability: ATMs
UBX Ltd Managing Director, Seronga Wangwe, says there has never been a company that has been able to create such an infrastructure in Tanzania. He calls UBX the ‘Mother of Interoperability’.
