A sweeping technological revolution is underway in Kenya, driven by the government’s resolute determination to transform the nation into a digital powerhouse. The latest stride towards this audacious goal was marked by the inauguration of two public Wi-Fi hotspots, a pivotal stride towards the digital future that Kenya envisions. Eliud Owalo, the Minister of Information, […]
A recent survey by accounting firm BDO Global encompassing a diverse range of UK businesses, has unveiled a notable dip in business confidence as the nation grapples with a decelerating economy and a simultaneous rise in interest rates. The survey, which analyzed insights from over 4,000 companies, provides a glimpse into the prevailing challenges faced […]
In a remarkable turn of events, S&P Global Ratings has revised Nigeria’s outlook from negative to stable, attributing this positive shift to the decisive fiscal reforms championed by President Bola Tinubu. This significant alteration not only signals a potential turning point for the largest economy in Africa but also ignites a sense of optimism within […]
Global stock markets were rocked by turbulence when Fitch, a prominent ratings agency, downgraded the long-term credit rating of the United States. Fitch’s decision lowered the U.S. long-term foreign currency issuer default rating from AAA to AA+, citing concerns over anticipated fiscal deterioration in the next three years, governance issues due to repeated debt-limit political […]
Kenya’s tea industry is experiencing a significant upswing as tea export prices reach an eight-year high. In May, the average price for Kenya’s tea exports surged to Ksh 335,407 ($2,351) per tonne, driven by a weakened shilling and robust demand for the beverage. This positive development coincides with multinational companies and local tea firms engaged […]
n a groundbreaking move, the United Kingdom and Zambia have cemented a strategic economic partnership during the visit of British Foreign Secretary, James Cleverly, to Africa. This unprecedented collaboration promises significant economic gains for both nations, reinforcing their commitment to sustainable development and advancing the global clean energy transition. The UK-Zambia Green Growth Compact, a […]
In the aftermath of a military coup in Niger, the global uranium market has shown signs of potential upheaval, with the spot price of uranium experiencing a slight rise. As the world’s seventh-largest producer of uranium, Niger’s political situation has drawn the attention of experts and investors, who are closely monitoring the developments for potential […]
In a significant move, Fitch Ratings has downgraded the United States of America’s Long-Term Foreign-Currency Issuer Default Rating (IDR) from ‘AAA’ to ‘AA+’. The rating downgrade reflects concerns over the nation’s expected fiscal deterioration in the next three years, a growing government debt burden, and the erosion of governance relative to peer countries. Fitch highlights […]
According to Bloomberg, Kenya’s eurobonds experienced a sharp decline as Moody’s Investors Service raised alarms over the country’s planned buyback of some of its debt. The credit rating agency warned that redeeming the bonds at a price below par value could be seen as a default, causing yields on the notes to surge by 46 […]
Nigeria’s President Bola Tinubu defended the nation’s decision to remove fuel subsidies in a recent national broadcast. The move, which has faced criticism due to its impact on the economy, has already saved over $1.32 billion in just two months. In an evening address to the nation, President Tinubu acknowledged the economic hardships that followed […]
As Kenya’s Sh301 billion International Monetary Fund (IMF) programme nears expiration in April, the Kenya Kwanza government is actively exploring...
In a significant monetary policy shift, the Reserve Bank of India (RBI) has cut its key repo rate for the...
The Reserve Bank of Zimbabwe (RBZ) has opted to maintain its key interest rate at 35%, signaling a commitment to...
In a groundbreaking move set to transform Kenya’s transportation infrastructure, American asset management firm Everstrong Capital has partnered with CPF...