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Kenyan government unveils next year’s budget

Kenyan Treasury cabinet secretary Henry Rotich has unveiled the 2018/2019 budget in Parliament, local media reported. The expenditure will help finance President Uhuru Kenyatta’s so-called Big Four agenda, which seeks to boost agriculture, manufacturing, healthcare and home building to drive economic growth. The record budget of 3.07 trillion shillings is expected to be financed through […]

Kenya proposes new corporate tax rate, highest in East Africa

Kenya’s treasury has proposed a 35 percent corporate tax for companies on annual income of more than $4.9 million, the highest corporate income tax rate in East Africa. The draft bill published by the Treasury said it had reviewed the income tax act and proposed changes to “make it productive” and help finance President Uhuru […]

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Single African Air Transport Market agreement signed by 26 countries

Twenty-six African countries out of the 55 members of the African Union have committed to the establishment of the concept of a Single African Air Transport Market (SAATM), the African Union Commission chairperson, Moussa Faki Mahamat said on Monday during a meeting of the working group in the Togolese capital, Lome. According to the list […]

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Ethiopia to adopt visa-free policy for all African visitors—PM

Ethiopia will soon allow all Africans to visit the country without visas, according to Prime Minister Abiy Ahmed. The announcement follows Rwanda’s decision allowing Africans to enter the country without visas. The issuance of visa-on-arrival for all countries was widely applauded by many across the continent. Speaking during a state banquet for Paul Kagame last […]

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President Kenyatta signs cybercrimes law amid protests

Kenyan President Uhuru Kenyatta on Wednesday signed into a law a controversial Computer and cyber-crime law criminalizing fake news and online bullying. The Computer Misuse and Cybercrimes Act is aimed at punishing cyber fraud and illegal hacking. Under the new law, anyone who intentionally publishes false, misleading or fictitious data or misinforms, with or without […]

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Kenya dam bursts, kills at least 47

Floodwater from a commercial flower-farm dam in Kenya’s Rift Valley has killed at least 47 people as it swept through 450 homes and smashed into two villages, the local governor said. The walls of the reservoir, situated on top of a hill in Nakuru County, 190 kilometers northwest of Nairobi, gave way late on Wednesday, […]

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Swahili becomes first native African language to get Twitter recognition

Social media platform Twitter has officially recognized the use of Swahili as a language on the platform. It became the first African language to achieve that accomplishment. The social media now approves Swahili words and offers translation. It started detection of the language in tweets and subsequently offers a close to perfect translation as with […]

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Kenya’s president begs for forgiveness from Kenyans

Kenya’s president Uhuru Kenyatta on Wednesday called on Kenyans to forgive him for ‘damaging the unity of the country’ during the East African nation’s last presidential polls. In his 5th State of the Nation address to the joint session of the National Assembly and Senate on Wednesday, President Kenyatta conceded that last year’s elections threatened […]

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Kenya’s economic growth to rebound in 2018

Kenya’s economy is expected to grow 5.8 percent this year compared with an estimated 4.8 percent in 2017, thanks to drought cut and less political risk after last year’s presidential election, Finance Minister Henry Rotich said on Wednesday. According to Rotich, the economy of the East African nation will benefit from increased investment in key […]

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Mauritius’ SBM Bank completes acquisition of Kenya’s Chase Bank

Mauritius’ banking group SBM Holdings will inject an additional $60 million into Kenya’s Chase Bank in a month’s time, SBM Holdings Chairman Kee Chong Li Kwong Wing told a news conference on Tuesday. Kenya’s Chase Bank has been in receivership since April 2016 after failing to meet its financial obligations. He said SBM had already […]

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