TikTok to open Kenya office
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TikTok CEO Shou Zi Chew says an office will be set up in Kenya to help coordinate the app’s operations in the continent, The Standard Kenya reports.
TikTok CEO Shou Zi Chew says an office will be set up in Kenya to help coordinate the app’s operations in the continent, The Standard Kenya reports.
Fitch Ratings has revised the Outlook on Kenya's Long-Term Foreign-Currency Issuer Default Rating (IDR) from Stable to Negative, affirming the IDR at 'B'. The revision to Negative is due to heightened external financing challenges amid high funding demands, a weakening of international reserves, rising financing costs, and fiscal trajectory uncertainty. These issues are balanced by Kenya's commitment to fiscal consolidation guided by the IMF programme and strong medium-term growth prospects.
Kenya’s economic growth for the first three months of the year slowed on the back of deceleration in most key sectors amid a recovery in farming activities, the statistics agency announced Tuesday.
Kenya is standing in line to secure another Sh136.5 billion loan from the World Bank as it seeks funds to ease the cash flow crisis and boost its dwindling foreign exchange reserves that have taken a hit from the weakening shilling.