Chinedu Okafor Chinedu is a Senior Reporter at Business Insider Africa with 5 years experience creating profoundly engaging and insightful content. <br/> Articles written by the author Algeria just inaugurated the largest mosque in Africa. The president of the country, Abdelmadjid Tebboune oversaw the inauguration of the monument. Africa is poised for sustained economic expansion in 2024, building upon the positive momentum witnessed in previous years. Kenya and Canada are currently in the process of bolstering their bilateral trade. Kenya had added Ksh1.93 trillion ($13.3 billion) to its overall debt at the end of 2023. The Kenyan currency continues to thread in a positive direction as it records another gain against the US dollar. The Central Bank of Kenya (CBK) anticipates a larger figure from foreign investments than the country has recorded in the past 3 years. Tanzania's energy sector gets a reprieve as the price of petroleum products reduces. The effect of pirate attacks on the Red Sea from Yemen-based militants, Houthi, has found its way into the Kenyan economy. In an effort to bolster Tanzania’s digital data pool and e-related services, the government is looking to integrate artificial intelligence into its e-government platforms. Exports from China to Kenya saw a decline in 2023. The World Bank is currently pushing against a legal case brought against it which involves Kenya. The dollar rate at Kenyan commercial banks fell a little as the Kenyan shilling gained value. Edward Nzesya, the younger brother of the late PepsiCo executive, William Mulwa Mutilangi, is looking to take legal action against Tanzania’s Bakari Kisalu Malanda who claims to be William Mulwa’s son. The purchasing power of Kenyans has seen a significant decline owing to some economic challenges. A $2 million (Sh233 million) grant was recently given to Kenya, Uganda, and Tanzania to increase grain export. Kenya’s oil fallout with Uganda late last year amounted to an estimated $200 million loss. The Kenyan Shilling, one of Africa’s worst-performing currencies in 2023, recently experienced a gain of 0.73 percent against the US dollar. The International Monetary Fund has expressed discontent with Kenya’s plan to re-introduce fuel subsidies. Uganda's indigenous ride-hailing business Safeboda is preparing to resume operations in Kenya. The Kenyan government has extended its full support to Kenyans looking to find work overseas. )
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
