Central Bank of Kenya (CBK) on Monday maintained the benchmark rate at 10 per cent for the 12th straight month. The move came amid suggestions that the cap on interest rates may be repealed. Bank Governor Patrick Njoroge, who chairs the Monetary Policy Committee, said the move was informed by
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Ugandan police have arrested 10 youths for staging an illegal rally to oppose a planned constitutional amendment to allow President Yoweri Museveni, one of the world’s longest serving rulers, to run for a fresh term. Police spokesman Emirian Kayima said on Monday the youths were detained in the capital Kampala
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The Federation of Uganda basketball Associations (FUBA) and host club City Oilers Monday unveiled their partner sponsors for the upcoming FIBA Africa Zone 5 Club Championships. Having been granted the rights to host the regional clubs’ flagship tournament, the 4-time NBL defending champions, who are also defending champions of the
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President Yoweri Kaguta Museveni has said Uganda is fast becoming a middle-income country with vast investment opportunities in agro-processing, industrialization and the service based sector. "Uganda is moving towards becoming a fast world country based on four sectors; commercial agriculture, industries, services and ICT," he said. The President was meeting
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The Kobs were crowned as the 2017 Guinness National Rugby Sevens champions after accumulating enough points through the six Leg circuit. Despite having lost 26-7 to the Heathens in the Edward Kitaka Memorial Sevens finals, the Kobs were still the overall winners. On the final day of the Guinness National
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Death threats to top members of Kenya’s divided electoral body are endangering preparations for a rerun of last month’s annulled presidential election, a senior official at the authority said. The relatives of one administrator at the Independent Electoral & Boundaries Commission fled the country after their lives were threatened, while
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Nokia (NOKIA.HE) will start to book additional revenue from the current quarter after a ruling by an arbitration court on payments from South Korea’s LG Electronics (066570.KS) for using its smartphone patents. The Finnish company said it would also get a one-off payment, although it did not disclose any of
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The government of Uganda has announced that it has ceased any of its dealings with the Democratic Republic of North Korea, in compliance to the United Nations Sanctions. Four days ago, the United Nations Security Council unanimously adopted the United States drafted resolution to impose new sanctions on North Korea
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Troubled Nakumatt Supermarket has turned to Tuskys in bid to rescue its dwindling business. The two retailers have signed a merger deal that will help revive Nakumatt whose shelves have been empty for a long time, reports the Standard Newspaper. Nakumatt, with retail stores in Kenya's major towns, will now
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A latest report has exposed Africa’s most expensive cities to live in, Business Focus reports. Harare (Zimbabwe) is Africa’s most expensive African city to live in, according to a cost of living index prepared for various cities across the world. According to Expatistan, an online cost of living calculator, Harare’s
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