Kenya Financial News

Kanye West is being accused by his former assistant Lauren Pisciotta of sexually assaulting her and drugging her at a Diddy studio session, as per a report.

National Insurance Company, which is grappling with a severe solvency shortfall of ₹8,000 crore, with its solvency margin standing at a negative 0.49%, far below the regulatory minimum of 1.5%, has identified several key assets to address the gap, according to people familiar with the matter. Among these are its stake in Agriculture Insurance Company, a 20% stake in India International Insurance Singapore valued at about $500 million (about ₹4,000 crore) and a joint venture in Kenya, they said, adding that though the insurer has identified these assets, it is yet to start the process and seek necessary approvals to proceed with any sales. While the Insurance Regulatory and Development Authority of India (Irdai) has granted the company forbearance and it has no immediate pressure to liquidate assets, the insurer is hopeful that the transition to a risk-based capital framework, expected in the coming few quarters, would provide relief by improving the valuation of its assets, according to the people.

Cape Town, South Africa – On 11 October 2024, the DHL Stadium will host Crypto Fest 2024, one of the most anticipated South African Web3 events of the year. This event will highlight Bitcoin adoption, crypto payments, and the growing regulatory landscape across Africa, emphasizing both the benefits and challenges of using cryptocurrency for payments.

CareEdge Ratings, is hoping to tap into a large market of rating foreign currency loans of Indian companies after it launched its international corporate and sovereign ratings from its Gift City office called CareEdge Global IFSC Ltd. CEO Mehul Pandya said together with taking away market share from its foreign peers, Care has plans to expand into African countries giving them the option of being rated from a new perspective. «So far more than $50 billion has been raised from Gift City and most of it has been rated by foreign agencies. If we just consider a few basis points of this amount in fees, it has huge revenue potential. We have a natural advantage because of our domestic expertise which we will leverage,» Pandya said.

UPI should be charged or be conducted, as it has been since 2020, without a merchant discount rate (MDR) to boost digital transactions. Either way, technology adoption is at the fulcrum of the growth of digital financial services (DFS). With UPI at the forefront, NPCI has formed strategic partnerships with several countries to enable digital payments and facilitate cross-border transactions. These collaborations not only provide Indian expats with a familiar way to pay but also enhance financial inclusion, while improving cost- and time-efficiency of digital payments in these regions. By establishing UPI-based payment corridors with banks in West Asian and African countries, these initiatives are building a secure and reliable digital payment infrastructure that supports economic development. As instant payments grow, its influence on the economic landscape of these regions becomes increasingly evident. In India alone, DFS has played a critical role in expanding the digital economy 2.4 times more rapidly than the overall economy.

Indian Navy's frontline stealth frigate, INS Talwar, arrived in Mombasa, Kenya for strengthening ties between the two nations. The frigate arrived in the harbours of Mombasa on Sunday. The visit aims to strengthen ties further and reaffirm India's commitment to constructive collaboration and mutual growth. According to a statement by the Ministry of Defence, the navies of Kenya and India would be engaging in various interactions to strengthen cooperation and interoperability.

Meta, Facebook’s parent company, has lost an appeal in a Kenyan labor court

climate change and global success is more likely if affordable solutions are offered, India has said at the United Nations «Summit of the Future». Addressing the summit in New York on Friday, Leela Nandan, secretary in the Union environment ministry, also said that climate change discussions often focus solely on emission reductions, but «we are more likely to succeed if we offer affordable solutions, not simply impose decisions». The Summit of the Future brings together world leaders, policymakers and other stakeholders to discuss global challenges and strengthen multilateral cooperation to tackle emerging threats. Citing an estimate by the International Energy Agency, Nandan said, «If we were to put our actions into the right context in terms of saving energy, saving water, reducing waste, reducing e-waste, adopting sustainable food systems, we would have reduced annual global emissions by 2 billion tons by 2030.»

AdGroup on Wednesday refuted the media report by a the Kenya's newspaper which claimed that the group's proposal for the Kenya Airport Authority was cleared in 17 days. The newspaper has tweeted on the social media site 'X' that «Indian firm Adani Group says its proposal for the Kenya Airports Authority was cleared in 17 days; KAA management now faces scrutiny over the swift approval process.» The post is now been deleted. The conglomerate stated in the statement that Adani Group has neither issued any such statement nor engaged with the media in this regard.

Anirban Chowdhury, detailing his luxury stay at the JW Marriott Masai Mara in Kenya, has gone viral on social media platform X (formerly Twitter). Chowdhury, who shared his experience of staying at one of Kenya’s most expensive resorts with his wife, received an overwhelming response from users, many of whom were curious about the cost of such a lavish vacation. However, one comment, in particular, caught Chowdhury’s attention, prompting him to address misconceptions surrounding his trip in a post titled, «It's time for some myth-busting.» The comment that sparked his response read: «Only multimillionaires like you can afford such vacations.» The implication that only the wealthy could afford such an extravagant holiday didn’t sit well with Chowdhury, who decided to break down the actual costs and methods he used to make the trip affordable. In response to the claim that he must be a multimillionaire to afford such a trip, Chowdhury clarified that he is a salaried employee who pays taxes like everyone else. He emphasized that he travels frequently for work, which helps him earn even more points to redeem for luxury stays and flights.

Adani Group on Monday clarified in a press release that the company or its subsidiaries had not issued any statement regarding Kenya. It said that multiple fraudulent press releases were circulating, including one titled 'Adani Group Denounces Baseless Accusations and Threats', regarding the Group's presence in the African country. The Group said that this was deceitful and urged everyone to «disregard these fake fraudulent releases completely». The release added that it would take legal action against anyone involved in spreading false narratives.

Rebecca Cheptegei was preparing to go to church from her home in the highlands of western Kenya. Her ex-boyfriend called a friend of his to ask if he could borrow a lighter. He said he had «an emergency» and was heading out of town, the friend, retired runner Dennis Masai Chepkongin, told Reuters at his home in the Mount Elgon region, where Cheptegei lived. «He became very secretive when I asked him why,» Chepkongin said, adding that he declined the request.

Julien Alfred completed her perfect season at the finale of the Diamond League series in Brussels on Friday, while Jakob Ingebrigtsen secured victory in the 1,500 metres to make up for his Paris hiccup. Alfred, the Olympic gold medallist from St Lucia, led most of the women's 100 metres but was pushed close to the line by Britain's Dina Asher-Smith, to finish in 10.88 seconds. American Sha'Carri Richardson, the silver medallist in Paris, ended a disappointing eighth. Ingebrigtsen, who won the men's 5,000 metres in Paris but came in a disappointing fourth in the 1,500 metres, led into the final lap of the middle distance race in Brussels, kicking away from his nearest rivals with 200 metres to go.

German and Kenyan officials have signed an agreement to promote the recruitment of skilled Kenyan workers who can fill gaps in Germany’s labor market, and to facilitate the repatriation of Kenyans who don’t have the right to stay in Germany

Hundreds of workers at Kenya’s main international airport are demonstrating against a planned deal between the government and a foreign investor

Kenya's high court has temporarily paused a plan to transfer the management of Nairobi's main airport to India's Adani Group, as reported by the Financial Times.

Barack Obama, announced he was voting for Trump. This sibling rivalry still exists. Abon'go Malik Obama, the half-brother of the late President Barack Obama, stole the show on Wednesday when he declared he would be voting for Donald Trump in November. Malik Obama wrote on X that he is a registered Republican and he is voting for President Donald Trump. In the last two elections, the relative of the 44th president supported Trump, 78, over former Obama administration officials. It has been reported that Barack Obama assisted in propelling the Californian to the top of the Democratic ticket for 2024, where she would face outgoing President Biden. Malik Obama expressed his admiration for Trump's ability to speak from the heart in a 2016 exclusive interview with The Post. Also Read: Can Kamala Harris be the first Democratic leader to score the first double win in the Southern swing states since Jimmy Carter?

The blood, milk and meat of cattle have long been the staple foods for Maasai pastoralists in Kenya, perhaps the country's most recognizable community

A Ugandan athlete living in Kenya was attacked and set on fire by her boyfriend and is receiving treatment for burns on 75 per cent of her body, police said.

Rebecca Cheptegei is in critical condition in a Kenyan hospital after being allegedly doused with petrol and set on fire by her former boyfriend. The attack occurred on Sunday at her home in Endebess, western Kenya, where she had been training. Both individuals are undergoing treatment for severe burns at Moi Teaching and Referral Hospital in Eldoret. Local police are investigating the incident, which is part of a worrying trend of violence against female athletes in Kenya. Cheptegei, 33, had returned home from church with her two children when the incident took place. According to local police chief Jeremiah ole Kosiom, neighbors rescued her after hearing a quarrel outside the house, during which the alleged attacker poured a liquid on her before setting her ablaze. The attacker also sustained serious burns during the altercation. «The couple were heard quarrelling outside their house. During the altercation, the boyfriend was seen pouring a liquid on the woman before burning her,» Kosiom explained to journalists.

The Congress party today said that protests in Kenya over Adani Group's proposed takeover of Nairobi airport is a matter of grave concern as it could turn into anger against India. «The proposed takeover of Nairobi airport by the Adani Group has sparked widespread protests in Kenya. The Kenya Aviation Workers Union has called for a strike to protest. This is a matter of grave concern for India, as the non-biological prime minister's friendship with Adani is now world-famous. The ongoing protests there could easily turn into anger against India and the Indian government,» Congress leader Jairam Ramesh said in a post on social network X (formerly Twitter).