Kenya borrowing hits an average of Sh2.5bn each day

Posted Posted in Economy, Top News

National Treasury The Jubilee administration borrowed an average of Sh2.5 billion daily from foreign lenders in the four months to August, highlighting the government’s growing appetite for foreign debt. The public debt report tabled in Parliament yesterday revealed that Kenya borrowed six loans between May and August worth Sh305.6 billion, translating to an average of […]

Chinese retailers slash iPhone prices, say they aren’t worth the cost

Posted Posted in Economy

After Apple lowered its first-quarter sales forecast, new iPhones have not been performing well in China and are being sold with steep discounts soon after their release. Sales of Apple’s latest top-of-the-line smartphones have reportedly been much worse than expected in the world’s largest smartphone market, CNBC reported. The cause of the reduced sales seems […]

M-Pesa makes up to 1,200 transactions every second

Posted Posted in Economy

Customers queue outside an M-Pesa shop in Nairobi Safaricom boss Bob Collymore has said the giant telco company  is expanding its M-Pesa systems to take 1,200 transactions per second. In a statement, he attributed the recent outage that lasted four hours to the system upgrade. Latest Communications Authority telecommunication sector statistics shows that Safaricom carried […]