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Category: Business / Finance

Musk to Spend $55 bn on SpaceX AI Chip Project in Texas: Notice
Business / Finance International

Musk to Spend $55 bn on SpaceX AI Chip Project in Texas: Notice

Wadh KassimMay 8, 2026

Elon Musk’s SpaceX plans to invest at least $55 billion to build a semiconductor manufacturing facility in Texas, according to a public notice Wednesday, producing chips for artificial intelligence, robotics and data centers in space.

UAE pulls out of OPEC oil cartels citing ‘national interests’
Africa Business / Finance International Middle East

UAE pulls out of OPEC oil cartels citing ‘national interests’

Mwanzo EditorApril 28, 2026April 28, 2026

The UAE has been an OPEC member through the emirate of Abu Dhabi since 1967, four years before the former British protectorate became a country.

UK Unemployment Unexpectedly Fell Ahead of Mideast War
Business / Finance International

UK Unemployment Unexpectedly Fell Ahead of Mideast War

Wadh KassimApril 21, 2026

The unemployment rate dropped to 4.9 percent in the three months to February, the Office for National Statistics (ONS) said in a statement.

Orca Energy To Exit Tanzania Amid Heavy Investment Costs
Africa Business / Finance East Africa Energy & Mining Tanzania

Orca Energy To Exit Tanzania Amid Heavy Investment Costs

Wadh KassimApril 14, 2026

Orca underscored that its withdrawal is part of a long-term strategy to preserve capital for shareholder dividends and to realize value from its Tanzanian assets.

Kampuni Ya Nishati Ya Orca Kuondoka Tanzania Kufuatia Gharama Kubwa Za Uwekezaji
Africa Business / Finance East Africa Energy & Mining People Tanzania

Kampuni Ya Nishati Ya Orca Kuondoka Tanzania Kufuatia Gharama Kubwa Za Uwekezaji

Wadh KassimApril 14, 2026April 14, 2026

Orca imesisitiza kuwa kujiondoa kwake kunalenga kulinda fedha kwa ajili ya mgao wa wanahisa na kutimiza mkakati wa muda mrefu wa kupata thamani kutoka kwa mali zake za Tanzania.

Tanzania Fuel Prices Jump as Global Crisis Bites
Business / Finance East Africa Tanzania

Tanzania Fuel Prices Jump as Global Crisis Bites

Joy CheptooApril 1, 2026

According to EWURA, the situation has disrupted oil production and supply routes, especially after attacks on oil facilities and the closure of the Strait of Hormuz, a key global route that carries about 20% of the world’s oil.

Kenya Ranked As East Africa’s Largest Economy And Gateway To Global Markets
Africa Business / Finance East Africa International Kenya People Tanzania Uganda

Kenya Ranked As East Africa’s Largest Economy And Gateway To Global Markets

Wadh KassimMarch 25, 2026March 25, 2026

Kenya’s GDP stood at about $125 billion in 2024 and is projected to surpass $130 billion in 2025

Kenya, Uganda double down on rail extension burdened by Chinese debt
Business / Finance Development East Africa Infrastructure Kenya Uganda

Kenya, Uganda double down on rail extension burdened by Chinese debt

Mwanzo EditorMarch 21, 2026

The presidents of Kenya and Uganda met near their shared border Saturday to mark the multi-billion-dollar, long-delayed extension of a Chinese-built railway that has left Kenya heavily in debt.

Benki ya Dunia yazuia PwC Kenya na Rwanda kutokana ulaghai wa mradi wa umeme
Business / Finance

Benki ya Dunia yazuia PwC Kenya na Rwanda kutokana ulaghai wa mradi wa umeme

Kevin SeweMarch 19, 2026

Benki ya Dunia imezizuia PwC Kenya, PwC Rwanda na PwC Associates Africa kushiriki katika miradi inayofadhiliwa na taasisi hiyo kwa muda wa miezi 21 kutokana na ulaghai wa mradi wa umeme wa kikanda nchini Ethiopia.

World Bank Bars PwC Kenya and Rwanda From Projects Over Ethiopia Power Tender
Africa Business / Finance Development East Africa International Kenya

World Bank Bars PwC Kenya and Rwanda From Projects Over Ethiopia Power Tender

Joy CheptooMarch 19, 2026

The World Bank said the sanction follows findings of fraudulent and collusive practices connected to consultancy work under the Eastern Electricity Highway Project, which is part of the Eastern Africa Power Integration Program.

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