In a pivotal economic juncture, Capital Economics’ recent assessment has spotlighted potential challenges for Egypt as it contemplates expanding its $3 billion loan program with the International Monetary Fund (IMF) to a substantial $6 billion. The implications of this move extend beyond the financial realm, impacting local and international stakeholders who are carefully monitoring for […]
In a significant relief for the agricultural and small business sectors, the Kenya Revenue Authority (KRA) has implemented targeted exemptions from the electronic tax invoice management system (eTims). With immediate effect, businesses with an annual turnover below Sh5 million are now spared from the electronic invoicing requirement, a move set to alleviate compliance pressures on […]
The World Bank’s latest Global Economic Prospects report presents a concerning picture, predicting the world’s weakest half-decade of GDP growth in 30 years. Despite the relative strength of the U.S. economy offering a buffer against a global recession, the report emphasizes the emergence of new challenges, primarily fueled by escalating geopolitical tensions, which pose immediate […]
The latest World Bank report on Global Economic Prospects provides a detailed analysis of Sub-Saharan Africa’s economic performance in 2023. The region, while demonstrating commendable resilience, experienced a slight dip in growth, registering 2.9 percent compared to 3.7 percent in 2022. A key highlight is the moderation in growth within the region’s economic powerhouses – […]
In the upcoming January 2024 Treasury bond sale, investors are preparing for a formidable challenge as interest rates are predicted to surge beyond the 18 percent mark. This projection stems from thorough analyses by reputable investment banks, including Genghis Capital, Sterling Capital, and AIB-AXYS Africa. The bond offering consists of a new three-year bond and […]
In response to a challenging fiscal landscape, Kenya’s National Treasury has revised its borrowing strategy for the 2023/24 fiscal year. The move, announced today, reflects a pragmatic response to lower-than-expected tax collection and a downward revision of ordinary revenue forecasts. Originally targeting Sh718.9 billion in borrowing, the Treasury has now increased its goal by Sh168 […]
In a strategic move to tackle prevailing forex challenges, Nigeria’s Central Bank (CBN) has efficiently disbursed nearly $2 billion over the last three months to settle outstanding foreign exchange forwards. Despite these efforts, the nation grapples with a lingering forex shortage. Facing approximately $7 billion in matured forex forwards, the CBN has prioritized settling these […]
India is set to achieve a substantial 7.3% annual economic growth in the fiscal year ending March 2024, as projected by the National Statistical Office (NSO). This outlook, surpassing forecasts for major global economies, provides a significant political advantage for Prime Minister Narendra Modi in the lead-up to national elections. The NSO, cautioning that these […]
Recent data from the Central Bank of Kenya (CBK) reveals a substantial uptick in the interbank lending rate, reaching a near five-month high as the CBK enforces a more robust monetary policy. The mean lending rate between banks stood at 14.3 percent on January 2, 2024, representing the highest level since August 7 and at […]
In a positive turn of events, the UN’s Food and Agriculture Organization (FAO) disclosed on Friday that global food prices experienced a substantial decline of 13.7% in 2023, providing relief after the challenges of the preceding year. The FAO’s cereals price index led the downward trend with a 15.4% decrease. This shift was attributed to […]
A historic moment in East African energy cooperation unfolded this week as Ethiopia commenced its first-ever electricity exports to Tanzania,...
The United States Senate is currently embroiled in a high-stakes, marathon voting session on a sweeping budget bill, colloquially dubbed...
In a landmark moment for Burundi's energy future, President Evariste Ndayishimiye this week inaugurated the Jiji hydroelectric plant, a crucial...
The financial landscape in Kenya has seen a notable development with the Central Bank of Kenya (CBK) announcing the cancellation...
