A current account deficit is occasioned by high spending on imports compared to export earnings.

During its Q1 earnings call, Meta announced that Reels made up more than 20 per cent of the time on its platform.

Kenya, Uganda, and Tanzania revenues grew 30%, 24%, and 21%, respectively, compared to last year’s period, on easing of COVID-19 restrictions.

Mobile Money revenue grew by 26.5%, driven by a growth of 26.9% in East Africa and 25.4% in francophone Africa.

Kenya raised the lending rate by 50 basis points to 7.5 percent at their last meeting in May, the first increase since July 2015.

The Commonwealth Games were known as the British Empire Games from 1930 to 1950, the British Empire and Commonwealth Games from 1954 to 1966, and British Commonwealth Games from 1970 to 1974.