Remittance inflows increased 18.6 percent in the first 12 months of the current fiscal year. According to the Central Bank of Kenya Weekly Bulletin released on Friday, cumulative remittance inflows for the 12 months to May 2022 totaled USD 3,992 million compared to USD 3,365 million in the same period in 2021, an increase of 18.6 percent. The CBK also indicated that remittance inflows in May 2022 totaled USD 339.7 million compared to USD 315.8 million in May 2021, a 7.6 percent increase. “The strong remittances inflows continue to support the current account and the stability of the exchange rate.…
Author: Muindi
Muindi
Experience working on communication and marketing departments and in the broadcast industry. Interested in sustainable development and international relations issues.
Kenya’s estimated tea production fell by more than 5 million kg in the first quarter of this year ending March, according to data from the Tea Directorate. “Cumulative production for the first quarter was lower by 5.15 million kilos to stand at 135.83 million kilos, a decrease from 140.98 million kilos in a similar period in 2021. This was notably due to depressed rains,” said the government agency in a report. The directorate warned that Kenya’s overall tea production is likely to fall this year due to the challenging weather conditions. Khusoko is now on Telegram. Click here to join our channel and…
In Nairobi, a litre of petrol will retail at KSh159.12; diesel at KSh140.0, and kerosene at KSh127.94.
Somalia has agreed to lift a two-year ban on importing khat (miraa) from Kenya, according to the Agriculture CS Peter Munya. Munya on Friday disclosed that it would take a fortnight before the final paperwork is complete to enable the execution of the agreement. “While we are still doing the paperwork, this country is also negotiating for access to Kenya’s fresh fish market. All the negotiations are complete,” CS Munya said. https://www.youtube.com/watch?v=6XgdSBvM2eQ Kenya’s exports to Somalia are estimated at Ksh 13 billion according to government data released in May. Imports from Somalia were worth Ksh 106 million in 2021, the…
AMC BV is an Airtel Africa subsidiary and the holding company for several of Airtel Africa’s mobile money operations across 14 African countries, including Kenya, Uganda and Nigeria.
BioNTech, the German pharmaceutical company that teamed with Pfizer to develop the first widely used COVID-19 vaccine, says construction of an mRNA vaccine factory in Africa would start on June 23 in Rwanda. “The event will encompass the groundbreaking for BioNTech’s initial African mRNA manufacturing facility in Kigali, Rwanda, where the first BioNTainer modules are planned to be delivered by the end of 2022,” the company said in a statement. https://khusoko.com/2022/02/19/kenya-among-six-african-countries-to-receive-mrna-vaccine-technology/ We are on Telegram. Click here to join our channel and stay updated with the latest East African business news and updates.