Zimbabwe has rolled out a new national currency called Zimbabwe Gold (ZiG), Harare’s Central Bank said at a press conference. “The Reserve Bank of Zimbabwe announces the introduction of a new currency – Zimbabwean gold (ZiG),” the bank’s Governor, John Mushayavanhu, said. “This currency will be issued in the form of notes and coins. All reserves of the Zimbabwean dollar will be transferred to it. The new currency will be backed by reserves of foreign currency and precious metals mined in the country. Its exchange rate to the US dollar will be 13.5 Zimbabwean gold per US dollar,” he added.…
Author: NBM CORRESPONDENT
Billionaire businessman Jammy Roger Bebwawana, who was recently ranked among top ten Fordes 600 richest men in Kenya has opened up about how he built his logistics company,
Kalle Rovanpera is the winner of the just concluded Safari Rally Kenya 2024 that took place at Hell’s Gate National Park in Naivasha after finishing ahead of both GR Yaris team-mate Takamoto Katsuta and M-Sport Ford’s Adrien Fourmaux.
Since 2022, the Fund has supported over 1,265 MSMEs in West Pokot with loans exceeding Sh233 million and 280 MSMEs in Turkana County with loans totalling over Sh58.7 million.
By Qin Ruijie, People’s Daily In the village of Hongya in Longde county, Guyuan, northwest China’s Ningxia Hui autonomous region, a bonfire crackled merrily on a lively night. Young people and children gathered around the fire, mustering their courage to run, jump, and leap over the flame, welcoming the arrival of spring. “Liaogan” is a folk custom in northwest China, said Yang Guoquan, a resident in the village, adding that jumping over the bonfire symbolizes warding off illness and disasters. “Once the Liaogan Festival is over, spring will arrive,” Yang said. “The best Liaogan activities in Guyuan are in our…
KCB Group has agreed to sell 100% of its struggling subsidiary, National Bank of Kenya Limited (NBK), to Nigeria’s Access Bank subject to regulatory approvals. The deal is currently awaiting regulatory clearance from the Central Bank of Kenya, the Central Bank of Nigeria, the COMESA Competition Commission, and notifications to other relevant regulatory bodies. “This transaction represents what we believe is a great opportunity to maximize value for our shareholders while strengthening the competitive position for the Group,” KCB Group chief executive Paul Russo said. “The past four years have been defining for NBK as a KCB Group subsidiary and…
KCB Group has reported 8% drop in net profit to Sh37.5 billion for the year ending December 2023, compared to the preceding year. The decline, which represents a fall of Sh3.3 billion from the Sh40.8 billion in 2022, is attributed to costs escalation and depreciation of the Kenyan shilling. “Provisions increased by 154.7% from the downgraded facilities in Kenya and additional provisions on foreign currency facilities from the depreciating Kenya Shilling against hard currencies,” the bank said in a statement. Despite the decline in profit, the group’s total assets hit Sh2.17 trillion, representing a 40% jump, boosted by growth in…
By Tedros Adhanom Ghebreyesus If our planet were a patient, it would be admitted to intensive care. Its vital signs are alarming. It is running a fever, with each of the last nine months the hottest on record, as we hurtle towards the 1.5 degree threshold. Its lung capacity is compromised, with the destruction of forests that absorb carbon dioxide and produce oxygen. And many of the earth’s water sources – its lifeblood – are contaminated. Most concerning of all, its condition is deteriorating rapidly. Is it any wonder, then, that human health is suffering, when the health of the…
M-Pesa, Safaricom and Equity Bank have been ranked as the top most loved brands by women in Kenya in 2024, as per the fourth edition of The Top 100 Most Loved Brands by Women in Kenya report.
This collaboration, part of commemorating this year’s World Oral Health Day on March 20, aims to extend oral health care education to over 400,000 Kenyans by the end of the year.