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The performance represents the highest annual profit in KCB's history and underscores the resilience of Kenya's banking sector despite persistent economic headwinds including rising interest rates, inflationary pressures, and reduced household spending power.
The deal, signed between the Central Bank of Kenya and the National Bank of Rwanda, establishes a framework to streamline licensing procedures for payment service providers seeking to expand across the two markets.
Nigeria has suspended the issuance of petrol import licences for a second consecutive month, signalling a fundamental shift in the country's fuel supply chain as regulators enforce provisions of the Petroleum Industry Act that prioritise local production over foreign imports.
The Democratic Republic of the Congo has launched its first pilot gold refinery in Kalemie, marking a historic shift that will allow the country to refine its own gold domestically for the first time while strengthening oversight of its lucrative but notoriously opaque mining sector.
Women entrepreneurs are one of Africa’s most powerful — yet underfunded — economic forces.
Tanzanian billionaire Rostam Azizi says Nation Media Group will expand and create more jobs under new ownership.
South Africa leads the continent with seven billionaires, followed by Egypt with five, Nigeria with four, and Morocco with three, underscoring the continued concentration of extreme wealth in a handful of African economies.
South African Airways will enable customers booking through its website or mobile application to select Bitcoin as a payment option at checkout.
The policy replaces the previous flat 5 per cent royalty rate for Ghana with a system that ties state revenues to rising bullion prices. Under the new framework, miners will pay up to 12 per cent when gold reaches $4,500 per ounce.
