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  • Kenya smallholder tea farmers earn Sh63.6 billion from tea exports

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Kenya gets sh850 million for cash transfer programmes

By Ben Kinyanjui

The World Bank has given Kenya US$10 million (Sh850 million) to expand the Cash Transfer for Orphans and Vulnerable Children Project.HIV/AIDs has left thousands of children orphaned across the countryHIV/AIDs has left thousands of children orphaned across the country

The initiative that is already supporting 153,000 selected Kenyan household’s through regular cash transfers.

President Kenyatta supports EAC integration

By Kazungu Chai


President Uhuru Kenyatta has allayed fears that the East African Community (EAC) could be headed for a collapse following the coming together of Rwanda, Uganda, Kenya and South Sudan in infrastructure development.Presidednt Kenyatta(centre) says EAC growing strongerPresidednt Kenyatta(centre) says EAC growing stronger

The President said contrary to the rumours propagated by enemies of the regional bloc’s unity, all the five East African Community member States are committed to integration.

CfC Stanbic Bank and ICBC conclude Sh9.2 billion power deal

By Ben Kinyanjui

CfC Stanbic Bank and the Industrial and Commercial Bank of China (ICBC) have concluded a USD108 million (Sh9.2 billion) debt financing package with Triumph Kenya for the construction of an 83MW heavy fuel oil plant in Kenya.Kenya has relied on ever -expensive thermal power for over two decades nowKenya has relied on ever -expensive thermal power for over two decades now

CfC Stanbic Bank provided USD28 million of debt funding while ICBC supplied the remaining USD80 million for the plant, which is currently being built 25km from Nairobi.

Remittance inflows declines as global economic growth remain sluggish

By TF News Reporter

 

Kenyans living abroad sent back home US$107 million (Sh9 billion) in August, says the Central Bank of Kenya(CBK).Sluggish global economic growth lede to reduced inflowsSluggish global economic growth lede to reduced inflows

The bank says this was 5.1 per cent lower than the inflows recorded in July 2013 which amounted to US$112.8 million; and 12.9 percent higher than $94.8 million recorded in August 2012.

Poverty and inequality remain high in Africa despite growth

 

By TF News Reporter

Economic growth in Sub-Saharan Africa (SSA) remains strong with growth forecasted to be 4.9 per cent in 2013, says the World Bank. World Bank Vice president for Africa Makhtar Diop says poverty is still high despite growthWorld Bank Vice president for Africa Makhtar Diop says poverty is still high despite growth

Almost a third of countries in the region are growing at six per cent and more, and African countries are now routinely among the fastest-growing countries in the world, according to the World Bank’s new Africa’s Pulse, a twice-yearly analysis of the issues shaping Africa’s economic prospects.

Africa’s tourism set to boost economic growth, says World Bank report

By Ben Kinyanjui

Sub Saharan Africa’s tourism industry is set to spur more economic growth for the continent and directly employ 6.7million people by 2021, according to a new World Bank report released today. Tourism in Africa is driven by wildlife but poaching is threatening to wipe out elephantsTourism in Africa is driven by wildlife but poaching is threatening to wipe out elephants

The report—Tourism in Africa: Harnessing Tourism for Growth and Improved Livelihoods—says that tourism accounted directly or indirectly for one in every 20 jobs in Sub Saharan Africa in 2011.

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