A Green Future, a Brighter Economy Kenya is on the brink of a green revolution that could transform its economy, potentially creating a staggering 240,000 new jobs by 2030. This optimistic projection comes from a groundbreaking report by Financial Sector Deepening (FSD) and Shortlist, highlighting the country’s commitment to environmental sustainability and its potential to […]
A Perfect Storm for Growth The sports goods industry is currently basking in a golden era, with global trade hitting a remarkable $64 billion in 2022. This milestone marks a threefold increase since 1996, according to a recent World Trade Organization (WTO) report. The impressive growth can be attributed to a confluence of factors: a […]
A Partnership for Progress The African Development Bank (AfDB) is reaffirming its dedication to supporting Guinea’s journey towards economic development. From July 11 to 13, a high-level delegation led by Marie-Laure Akin-Ougbade, Vice President for Regional Development, Integration and Business Delivery, and Kevin Kariuki, Vice President for Power, Energy, Climate and Green Growth, visited Conakry […]
Kenya’s Rural Electrification Scheme (RES), established in 1973 with the noble aim of bringing electricity to remote areas and empowering rural communities, is now facing an existential threat. Recent reports reveal a staggering Sh55.9 billion loss accumulated by the scheme, painting a concerning picture. This analysis delves deeper into the factors contributing to the crisis, […]
Ankara Signals Confidence with Reserve Boost and Improved Ratings In a move showcasing its growing economic confidence, Turkey has announced the repayment of a $5 billion deposit held by Saudi Arabia. This bold decision comes in the wake of a revised growth forecast by the International Monetary Fund (IMF) and a credit rating upgrade by […]
The air in Harare is thick with anticipation as the city prepares to host the prestigious 3rd Canada-Africa Business Conference this coming October. This two-day event, organized by the Canada-Africa Chamber of Business (CABC), is set to play a pivotal role in strengthening the trade and investment bonds between Canada and the dynamic economies of […]
In the heart of Kenya’s Murang’a County, a transformative initiative is unfolding that promises to lift vulnerable families out of poverty and empower them towards financial independence. Known as the Economic Inclusion Programme (EIP), this ambitious project is a collaborative effort between the Kenyan government and the World Bank, and it is setting new benchmarks […]
Introduction Amidst a backdrop of global economic uncertainties, the recent G20 meeting in Rio de Janeiro provided a beacon of hope. A draft communique obtained by Reuters indicates a growing sense of cautious optimism among finance ministers and central bank governors about a potential soft landing for the global economy. This analysis delves into the […]
In a move sending shockwaves through Nigerian markets, the Central Bank of Nigeria (CBN) has announced its fourth consecutive interest rate hike, raising the benchmark lending rate to a staggering 26.75%. This aggressive action underscores the bank’s unwavering commitment to taming inflation, which continues to grip the nation despite previous interventions. Economists had widely anticipated […]
As Kenya navigates a precarious economic landscape, the nation eagerly awaits a crucial decision from the International Monetary Fund (IMF). At the end of August, the IMF board will review Kenya’s comprehensive economic repair plan—a key moment that could steer the country towards recovery or deepen its financial woes. A Nation in Turmoil: The Roots […]
