Serrari Group

Kenyan Savings and Credit Co-operative Societies (Saccos) Hit Historic Sh1 Trillion Mark in Deposits Amidst Economic Challenges

In a significant development, Saccos have achieved a major milestone by crossing the Sh1 trillion mark in member deposits. Despite economic challenges prompting some withdrawals for immediate needs, the State Department of Cooperatives reports a robust 15.6 percent surge in savings, reaching Sh1.047 trillion in the year to June 2023 from Sh906 billion. This remarkable […]

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Ghana’s Cocoa Crisis: Illegal Mining Erodes Economy and Environment

Ghana, renowned for being the world’s second-largest cocoa producer, is confronting a severe threat to its cocoa industry from illegal mining, locally known as “galamsey.” This challenge is exacerbating the nation’s economic crisis, marked by a daunting 26.4% inflation rate in November. Michael Kwarteng, director of anti-illegal mining activities at the Ghana Cocoa Board (COCOBOD), […]

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Kenya’s National Treasury Adjusts Domestic Borrowing Target to Address Fiscal Challenges

In response to unexpected fiscal challenges arising from lower-than-anticipated tax collections, Kenya’s National Treasury has revised its domestic borrowing target for the current financial year. This adjustment comes as the government grapples with the complexities of President William Ruto’s ambitious first full-year budget of nearly Sh3.9 trillion. The latest figures reported in the Kenya Gazette […]

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India Leads Global Remittances with $125 Billion Inward Flow in 2023

India has solidified its position as the world’s leading recipient of remittances, experiencing a remarkable 12.3% surge in 2023, with an influx of $125 billion. This substantial increase not only highlights the financial contributions of the Indian diaspora but also underscores their pivotal role in fortifying the nation’s economic foundations. The United States remains the […]

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TotalEnergies Announces $6 Billion Investment in Nigeria’s Energy Sector

TotalEnergies, a major player in the global energy sector, has unveiled plans for a substantial $6 billion investment in Nigeria’s energy landscape. The commitment was underscored during a pivotal meeting between TotalEnergies’ CEO, Patrick Pouyanne, and Nigeria’s President, Bola Tinubu, held in Abuja on Monday. The French energy giant aims to reinforce its foothold in […]

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