Search Results for: Kenyan

TEXT fraud is maybe more dangerous that email fraud, given the tendency for mobile phone users to respond to texts swiftly and without careful thought, cyber-security experts warn.

The Covid-19 pandemic has also created opportunities for fraudsters using texts and messaging services such as WhatsApp to launch fishing and other attacks on the unwary.…

Taking up a new job where you are responsible for overseeing how a business operates in three countries during a global health pandemic is not a task many financial professionals would take on lightly. But that is what Busola Doregos, a Nigerian accountant working in Uganda has just done. …

THE UNITED Nations’ Food & Agriculture Organisation (FAO) has proposed creating a permanent ‘observatory’ monitoring cocoa markets, assessing value and costs, to help chocolate sales revenues be more equitably distributed throughout supply chains.

In a report called a ‘Comparative study on the distribution of value in European chocolate chains’, the FAO said such “objectified and cross-checked data” would aid “a multi-stakeholder discussion” at national and global levels on revenue sharing.…

KENYA’S clothing manufacturing industry, which had been growing at the cutting edge of sub-Saharan Africa’s expanding outsourcing sector, has been punched hard by Covid-19’s devastation of the garment markets within the United States and the European Union (EU).

The London-based Overseas Development Institute has noted that “garment factories in Sub-Saharan Africa have started laying off workers,” and Kenya is no exception.…

IT is fair to say that cheese and other processed dairy products have not traditionally played a key role in tickling the Kenyan collective palate, but that was yesterday. Now, as the country, east Africa’s economic dynamo, grows a middle class interested in consumer consumption, there has been exponential growing demand for dairy products of all kinds.…

Kenya will start to grow genetically modified cotton this year, becoming the first country to do so in Eastern Africa. The move is significant as it is likely to inspire other counties in the region start to grow Bt cotton hybrids that are resistant to African bollworm and other pests.…

THE HEAD of the Kenyan export processing zone that will be hosting a new factory run by Sri Lankan apparel and textile manufacturer MAS Holdings, has told just-style that the new plant will involve the creation of between 3,000 and 3,500 jobs directly, when it starts operations by January 20.…

Beauty markets in sub-Saharan Africa are becoming more sophisticated, and with this comes an increasing desire by consumers to use cosmetics that better match their own skin and hair characteristics, rather than utilising products that of more universal appeal.

Nigeria’s personal care product industry continues to grow, and given its population is the largest in Africa – now estimated by the United Nations at 200 million – this market inevitably has the most potential in the continent.…

Kenyan President Uhuru Kenyatta and Central Bank of Kenya (CBK) Governor Patrick Njoroge have unveiled the latest weapon in the country’s battle against corruption, counterfeiting and money laundering with the introducion new banknotes. The Kenyan government requires old Kenyan Shilling KES1,000 (USD9.87) notes to be exchanged for the new bills by October 1, with the new KES50 (USD0.49), KES100 (USD0.99), KES200 (USD1.97) and KES500 (USD4.93) notes being phased in gradually.…

MONEY service businesses (MSBs) are having a tougher time operating in compliance with international AMF/CFT rules, especially those in emerging market countries, where they have to deal with a double challenge of tighter controls and derisking by banking partners.

MSBs throughout the Middle East, for instance, have been hit by derisking from correspondent banks as well as designations by the US Department of the Treasury’s Office of Foreign Assets Control (OFAC).…