First Independent Mena Newspaper
Despite rising interest all across the continent, trade in cryptocurrencies remains banned — in part due to concern about soaring losses arising from crypto scams — by most African governments save for the Central African Republic (CAR). The latest Chainalysis report indicates that losses arising from cryptocurrency scams rose by 60% in the first seven […]
Japan, which lags behind other major economies when it comes to investment in Africa, has been increasingly concerned that the pandemic has weakened African economies and worsened their dependence on Chinese investment and aid. US investment in Africa is seven times larger than that of Japan, that of the UK and France is more than […]
Kenyan presidential elections constituted “a travesty and a blatant disregard of the Constitution,” Kenyan opposition figure Raila Odinga said and added that he would challenge the results of the close presidential election with “all legal options available to us“. Kenya was calm on Tuesday (16 August), a day after Deputy President William Ruto was officially […]
Deputy President William Ruto was declared the winner of the close presidential election in Kenya over five-time contender Raila Odinga, amid drama and disagreement across parts of the Kenyan capital. Wafula Chebukati, chairperson of the Independent Electoral and Boundaries Commission (IEBC), announced that Ruto had won the election with 50.49% of the vote to Odinga’s […]
Many, if not most, African economies have endured a torrid time over recent years, as their finances have been hard hit by two global crises – Covid-19 and the Russia-Ukraine war. As a result, numerous states across Africa have turned to the International Monetary Fund (IMF) for assistance. Ghana is expecting to receive $3 billion […]
Polls for presidential, legislative and local elections closed across Kenya on Tuesday (9 August), and it appears Kenyans voted largely peacefully as two political heavyweights battled it out in a high-stakes race for the presidency of the East African powerhouse. The country is hoping for an orderly transition of power after almost a decade under […]
Kenya has no intention of shutting down Facebook, a technology giant which is owned by its parent company Meta, its minister for information, communication and technology (ICT) said on Monday, August 1, after the national cohesion watchdog gave the platform seven days to comply with rules on hate speech or face suspension. The watchdog’s ultimatum […]
As Kenyans head to the polls on August 9, East Africa’s largest economy could be headed for tough times. With the country’s currency having depreciated sharply, Kenya’s Treasury will face difficulty paying back its huge dollar-denominated debt. Kenya is among developing countries facing an economic crisis, according to a recent report released by Moody’s Investors […]
Moroccan Holmarcom Group has bought a 51 pc stake in Kenya’s Monarch Insurance Company for an undisclosed sum. The transaction, which is subject to approval by Kenya’s competent authorities, will enable Holmarcom to become the majority shareholder along with Kamu Group and Maisha Bank. The Moroccan private group operates in finance, insurance, agribusiness, distribution, logistics […]
The fight for the climate is at the heart of a two-day international virtual summit organized by U.S. President Joe Biden, on the occasion of Earth Day. On the African continent, signs of climate change are multiplying. Joe Biden’s initial announcements indicate a willingness to reduce carbon emissions. To set an example, Biden announced that […]