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May 30, 2023
Kenya: CBK Governor Nominee Thugge Roots for Issuance of Locally Sold Dollar Denominated Bond
Central Bank of Kenya (CBK) Governor nominee Kamau Thugge is proposing the issuance of locally sold dollar denominated bond with the government offering good rate to aid liquidity. Read more »
May 29, 2023
Africa: President Ruto Says Over Reliance on Dollar Affecting Trade
President William Ruto has urged African countries to adopt local currencies as modes of payment to boost trade. Read more »
April 14, 2023
Kenya: DP Gachagua Cautions U.S. Dollar Hoarders
Deputy President Rigathi Gachagua has cautioned financial speculators hoarding dollars to release them or prepare for losses. Read more »
March 23, 2023
Kenya: CBK Tightens Foreign Exchange Rules for Banks
The Central Bank of Kenya (CBK) has introduced a forex code for commercial banks that aims to improve transparency in the wholesale foreign currency market in Kenya. Read more »
March 22, 2023
Kenya: President Ruto Says Dollar Demand Will Ease
President William Ruto expects dollar demand in the country to ease as the government plans to import fuel in Kenya shillings. Read more »
January 16, 2023
Kenya: Shilling Hits Historic Low of Sh124 Against the Dollar On High Demand
The Kenya shilling sank to a historic low of Sh124 against the US Dollar on Monday, coming at a time when Kenyans in the diaspora are sending record amounts of money back home… Read more »
October 03, 2022
Kenya: CBK Clarifies on Lack of Foreign Exchange Reserves Claims By DP Gachagua
The Central Bank of Kenya (CBK) has issued a clarification on the state of foreign exchange reserves in the country. Read more »
June 23, 2022
Kenya: Dollar Crisis Attributed to Country's Import Dependency
The dollar crisis being experienced in the country could be attributed to Kenya's high dependence on imports whose costs have risen drastically, Kenya Bankers Association Chairman… Read more »
June 07, 2022
Kenya: Kenyan Manufacturers Urged to Reduce Import Bill Amid U.S. Dollar Shortage
Kenyan manufacturers have been urged to reduce their import bills and incorporate locally produced products into their business model in the wake of the US dollar shortage which… Read more »
Kenya: Looming Job Losses as U.S. Dollar Shortage Bites
Concerns have been raised that the dollar shortage in Kenya could trigger job losses as more manufacturing firms may be forced to shut down or suspend operations as they try to… Read more »
June 06, 2022
Kenya: Pwani Oil Shuts Down Plant, Suspends Operations Citing Dollar Shortage in Kenya
Pwani oil, the manufacturer behind the Salit Oil, Mpishi Poa, and Fresh Fry cooking oil products has announced the temporary halt of its operations citing among others the dollar… Read more »
May 31, 2022
Kenya: Kenya's Dollar Shortage a Serious Threat to Manufacturing Sector, KAM Warns
The Kenya Association of Manufacturers has warned that the ongoing dollar shortage in the country poses a serious threat to the sector members who rely on dollars to import key raw… Read more »
May 12, 2022
Central African Republic: Newly Launched Pan African Crypto Platform, Mara, Announces a Shs2.7 Billion Funding
MARA, a Pan-African crypto exchange, launched on Wednesday and announced USD23 million Shs2.7billion in funding and a partnership with the Central African Republic, which just… Read more »
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