The value of investor wealth on the Nairobi Securities Exchange hit a 34-month high of KES 2.62 trillion (approx. USD 24.5 billion), lifted by a rally of the share prices of Safaricom, East African Breweries, and banks. https://bit.ly/3ew0bAH
Kenya’s repayments towards Standard Gauge Railway line-related loans will more than double in the financial year starting July on the back of increased payment of principal sums to Chinese lenders for the mega infrastructure project. https://bit.ly/2SIEAwB
The recovery of tourism will be hinged on a combination of factors, among which will include the appointment of representatives in key source markets, according to the Uganda Tourism Board. https://bit.ly/3tBBTcN
Egypt’s plans to put digitalization at the heart of its efforts to drive post-pandemic growth in the financial services sector and boost inclusion are explored in a new Covid Response Report, produced by Oxford Business Group in partnership with the Financial Regulatory Authority. https://bit.ly/3o0Ekoa
Kenya has scrapped work visa and permit requirements for Tanzanian nationals in an effort to boost trade and tourism between the two countries, fast-tracking implementation of the East African Common Market Protocol allowing workers to move freely in the region. https://bit.ly/3vVALm0
Payroll taxes fell short of the revised target for April by 1.5 percent, signalling jobs underperformed government projections ahead of tighter COVID-19 containment measures imposed on five counties to stem the deadly third wave of infections. https://bit.ly/3xZjFW3
Commercial activity surrounding the recent signing of key agreements related to the 1,445km East African Crude Oil Pipeline Project and a surge in oil explorers’ procurement budgets have increased hopes of recovery in the country’s real estate industry that has been hit hard by the COVID-19 pandemic. https://bit.ly/2RJsCC3
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