Kenya Financial News

Access to electricity remains a major challenge for over half a billion people in sub-Saharan Africa, and power outages are common even for those who are hooked up to the grid

Fortescue Metals Group has tempered its green hydrogen ambitions in investor briefings aimed at settling market nerves about its risk appetite in green energy and recent leadership upheavals.

₹200 per kg of leaf, and will collapse without urgent financial support. According to industry reports, 50 of the 87 registered gardens that qualify for the “Darjeeling Tea" GI tag, are up for sale. India’s overall production of tea has remained flat for several years at around 1.3 billion kgs, while the average price of CTC tea fell to ₹171 per kg in FY23.

The host of the first Africa Climate Summit says climate change is “relentlessly eating away” at Africa’s economic progress and it’s time to have a global conversation about a carbon tax on polluters

Mint reported that India was holding discussions with Namibia, Mozambique and Kenya to enter into commercial partnerships for launching UPI in the markets. “We have specific objectives for popularising and internationalising Rupay and UPI," he added. Ritesh Shukla, the international chief executive of NPCI, recently said the number of countries using UPI will double in 12-18 months.

₿trust, a non-profit organization funded by Twitter (now X) co-founder and Bitcoin (BTC) advocate Jack Dorsey, is scaling up its programs in Africa with a new acquisition.

UPI) and RuPay cards as a payment platform in these geographies, a senior government official said on Tuesday. The Reserve Bank of India (RBI) and the National Payments Corp. of India (NPCI) are in discussions with various countries, various high commissions and embassies, the person said, requesting anonymity.

The first African Climate Summit is opening with heads of state and others asserting a stronger voice on a global issue that affects the continent of 1.3 billion people the most, even though they contribute to it the least

By Duncan Miriri

By Susanna Twidale and Sarah McFarlane

The study conducted a gender comparison looking at 50 leading crypto and blockchain companies and comparing the influence of their CEOs and the gender disparity in leadership positions.

Gokaldas Exports with a target price of Rs 865. The current market price of Gokaldas Exports is Rs 773.6. Gokaldas Exports, incorporated in the year 2004, is a Small Cap company (having a market cap of Rs 4687.59 Crore) operating in Apparels sector. Gokaldas Exports key Products/Revenue Segments include Textile Apparels, Export Incentives, Scrap, Job Work for the year ending 31-Mar-2021.Financials For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 522.23 Crore, down -1.49 % from last quarter Total Income of Rs 530.12 Crore and down -14.76 % from last year same quarter Total Income of Rs 612.69 Crore.

Worldcoin, co-founded by Sam Altman, has reported a single-day record of approximately 9,500 Argentinians successfully verifying their World ID despite ongoing investigations into the project over data privacy concerns. 

India all that much. This is disheartening, especially at a time when most Indians truly believe that everyone (except maybe the Chinese and Pakistanis) love them. According to the Washington-based Pew Research Centre, while 68% of Indian adults strongly believe that India's influence has risen in the world, only a median of 28% of adults in 19 other countries seem to agree. The survey by the phoren think-tank also says that barring Nigeria and Kenya, the favourability ratings for India have dipped in most countries.

Gokaldas Exports Ltd (GEL) on Tuesday jumped 20 per cent after the company said it has entered into an agreement through its wholly-owned subsidiaries to acquire Atraco Group for USD 55 million. The stock rallied 20 per cent to settle at Rs 736.30 — its 52-week high — on the BSE. On the NSE, it zoomed 20 per cent to end at its 52-week high of Rs 735.35 apiece. Headquartered in Dubai, apparel manufacturer Atraco operates with a network of four manufacturing units in Kenya and one in Ethiopia, GEL said in a statement. The equity value of the transaction is USD 55 million (around Rs 455 crore) and the same will be funded by a mix of debt and internal accruals, it said. The transaction will consist of the acquisition of shares and assets and will be subject to customary regulatory approvals.

Gokaldas Exports share price were locked at 20% upper circuit at a 52-week high on Tuesday after the company announced the acquisition of Dubai-headquartered Atraco Group (Atraco). Gokaldas Exports shares jumped as much as 20.00% to a 52-week high of ₹736.30 per share on the BSE. Gokaldas Exports through its wholly owned subsidiaries has entered into an agreement to acquire Atraco Group (Atraco), a leading manufacturer of apparel with a strong market position across US and Europe.

Three persons were killed in a fire in a Mumbai-based hotel on Sunday. Among them were NRIs 28-year-old Kishan Halai and his 25-year-old fiancee Rupal Vekaria, who were supposed to get married in Nairobi. The fire occurred on the third floor of the ground-plus-four-storey Galaxy Hotel in suburban Santacruz on Sunday afternoon.

Kenya's Cabinet Secretary for Defence, Aden Bare Duale, arrived in New Delhi on Monday on a three-day visit to India. During his stay in India, he will hold talks with his Indian counterpart, Defence Minister Rajnath Singh, on Tuesday. The visiting dignitary is expected to visit Indian shipyards and defence industries in Goa and Bengaluru, according to the statement released by the Ministry of Defence. This is the maiden visit of Cabinet Secretary Duale to India and the highest-level stand-alone political visit from Kenya since the new government assumed office in September 2022. «The visit is indicative of the importance India attaches to its relations with African nations and the growing cooperation between India and Kenya, in particular.

Electricity is being restored in most parts of Kenya, 14 hours after the longest outage in recent memory

The longest nationwide power outage in Kenyans’ memory remains a mystery as the government-owned power company blames a failure at Africa’s largest wind farm, which laid the responsibility on the power grid instead

NEW DELHI : India is in talks with a number of African countries, including Namibia, Mozambique and Kenya, to help develop its Unified Payment Interface (UPI) and to conclude commercial partnerships between payments platforms, according to persons aware of the matter. This push comes after Ritesh Shukla, International CEO of the National Payments Corporation of India (NPCI), which developed UPI, stated that the number of countries where UPI is live will double in the next 12-18 months. “There are many countries in the world which have similar problems we had before the advent of UPI.