Business

The platform will allow buyers to participate in real-time across the world, a shift they say will bring transparency and fair pricing to a sector long dominated by middlemen.

The final details of the new IMF-funded program are expected to be announced following the conclusion of the talks on Thursday. The recently concluded programme began in April 2021.

The policy also details other financial burdens, including an estimated Sh400 million loss from delays and procurement issues in the Mzima pipeline project.

Unlike external loans that face strict lender scrutiny, domestic borrowing remains largely unchecked, making it more prone to misuse.

The rollout is ongoing. For now, most apps are available in the ChatGPT web app to users on the Plus, Pro, and Go plans, with gradual expansion planned.

The World Bank cited falling inflation, stabilising currencies and renewed investment in major economies such as Ethiopia, Nigeria and Côte d’Ivoire.

Non-work-related use made up 73 per cent of all ChatGPT conversations as of June this year, up from 53 per cent during the same period last year, a 38 per cent increase.

In a notice issued Tuesday, the Communications Authority of Kenya said the directive seeks to enhance cybersecurity and protect sensitive data within the country’s ICT infrastructure.

The MPC said the decision aims to stimulate lending by banks to the private sector while ensuring that inflation expectations remain anchored and the exchange rate is stable.

Kindiki described the responsibility as significant and said Kenya would use its leadership to deepen value chains, leverage digital technology, and promote sustainable and inclusive growth.

The proposed committee will institutionalise a coordinated national approach to credit ratings, fostering structured, proactive engagement with credit rating agencies (CRAs) and regular monitoring of key rating drivers.

The law mandates that only registered companies can offer virtual asset services and introduces measures to safeguard client funds.

Mbadi disclosed that in present value terms, the public debt amounts to 63.7 per cent of GDP, a level assessed as sustainable though accompanied by a heightened risk of distress.

The regulator emphasised that failure to adhere to the directive will be considered a breach of regulations and may lead to enforcement measures as provided under existing laws and regulatory frameworks.

Commercial banks argue that low inflation, a stable exchange rate and strained private sector credit make a strong case for further easing of the Central Bank Rate (CBR).

According to President William Ruto, the initiative will help the government tackle funding gaps that have stalled critical development projects.

The move aims to streamline the process for counties, reduce bureaucratic delays and enhance local revenue collection for infrastructure projects.

The MPs said the pricing cap is part of a broader plan aimed at cushioning Kenyans from expensive electricity while paving the way for lifting a moratorium on new power purchase agreements (PPAs) that has been in place since 2018.

The embargo, which has persisted since March, has left tea farmers, traders and exporters grappling with unfulfilled contracts and threatened livelihoods.

The latest Stanbic Bank's Purchasing Managers’ Index (PMI), which gauges the level of private sector activities, rose to 51.9 during the month, from 49.4 in August.

The findings suggest that cost and knowledge gaps remain significant hurdles to expanding insurance coverage across the surveyed nations and the region.

The economic pillar exhibits the most fragmented performance among these, despite some notable strengths. It comprises four key dimensions: business and enterprise development, market integration, productive and sustainable integration, and macroeconomic integration.

In East Africa, Kenya led with 2.4 million visitors in 2024, ahead of Tanzania (2.1 million), Mauritius (1.38 million), Rwanda (1.36 million) and Uganda (1.3 million).

According to KRA, as of May 31, 2025, constituencies owe a total of Sh2.2 billion, although the specific constituencies were not named in the communication.

This policy may hit headwinds in countries such as Germany, France, and even Kenya, where, under the Data Protection Act, the use of private chat data for ads requires clear, informed consent.

According to the Treasury, clearing the earlier debt avoids higher interest costs in the future and spreads repayments over a longer period, providing the government with more fiscal flexibility.

Mobile lending apps lead in most markets, especially Uganda (37 per cent), Ghana (33 per cent), Kenya (30 per cent), Tanzania (27 per cent), and Nigeria (26 per cent), while South Africa relies more on commercial banks (29 per cent).

The launch involved a 12-hour operation in which 92 million gallons of water, equivalent to more than 140 Olympic-sized pools, were pumped into the dry dock to lower the vessel into the sea.

The FRC tracks suspicious financial activities through reports filed by banks, mobile money providers, forex bureaus, and SACCOs. SASRA supervises SACCOs to ensure compliance with these regulations.

Under the current framework, EV operators enjoy special tariffs of Sh8 per kWh during off-peak hours and Sh16 per kWh during peak hours.

The regional launch of the e-CO system took place in November 2024, starting with Eswatini, Malawi and Zambia as the first pilot countries.

While the figures represent global averages, the impact is felt most acutely in low- and middle-income countries such as Kenya.

This is despite pushback from millers who argue that the levy will increase their financial burden.

The direct link seeks to cut travel times, facilitate faster deals, and provide a stronger platform for partnerships across agriculture, energy, finance, and tourism sectors.

Weak internal checks have allowed a few officials to handle entire processes, from receiving applications to reviewing and registering them creating clear conflicts of interest.

Only six institutions: Citibank N.A. Kenya, Absa Bank Kenya, Credit Bank, Standard Chartered Bank Kenya, Stanbic Bank Kenya and Victoria Commercial Bank reduced their rates to meet or fall below the revised CBR.

The Memories feature has become one of Snapchat's most widely used tools, allowing users to save past posts within the app rather than losing them to the platform's disappearing-messages format.

At the start of the year, the outlook had been positive, with the trade deficit narrowing by 2.7 per cent to Sh375.5 billion, down from Sh385.9 billion in the corresponding quarter of 2024.

Customer forums remain full of battery-related reports, with analysts warning that managing power will stay challenging as wearables pack more advanced features into compact designs.

Early feedback will likely shape how the app evolves, whether it becomes a hub of playful experimentation, a professional creative tool, or another crowded battleground in the race for online attention.

According to IATA, African flights were about 80 per cent full on average in August, marking the first time the region has reached that level, though still below Europe's 88 per cent.

What started as a minor irritation quickly escalated into burns around the finger, forcing the user to seek urgent medical attention.

The programme has been credited with creating and sustaining hundreds of thousands of jobs across more than 30 eligible African countries.

The statistics body attributes the growth largely to robust performances in agriculture, forestry and fishing, which recorded a 4.4 per cent growth, transportation and storage (5.4 per cent), and financial and insurance activities (6.6 per cent).

Kilavuka traced the airline’s financial collapse to a series of external shocks that hit shortly after Project Mawingu began.

While the overall average duration and frequency of outages slightly improved compared to 2024, many customers still endured prolonged interruptions, especially during the rainy season.

Over the past year, inflation has fluctuated between 2.7 per cent in October 2024 and a peak of 4.5 per cent in August, reflecting a gradual economic recovery despite continuing pressures from global supply chains.

The proposal aims to reduce the average cost of person-to-person (P2P) mobile money transactions from Sh23 in 2024 to Sh10 by 2028, while capping charges on transfers.

Large-scale industrial and commercial consumers benefited from the Time-of-Use (ToU) tariff, saving roughly Sh1.438 billion by shifting 180.3 GWh of electricity usage to off-peak periods.

The Agency further highlights the challenge of skills mismatch, reckoning that the qualifications and experience of workers in declining sectors often don’t align with the needs of emerging green industries.

The World Bank committed to providing electricity access to 250 million people, with the African Development Bank (AfDB) aiming to reach an additional 50 million.