The Economic Community of West African States (ECOWAS) court has dismissed Niger’s junta’s plea to lift sanctions imposed by neighboring nations in response to the unconstitutional coup that ousted President Mohamed Bazoum in July. The swift response from ECOWAS included border closures, suspension of financial transactions, and freezing of assets, with Nigeria going so far […]
In response to the persistent depreciation of the shilling and the resulting economic challenges, Kenya’s Central Bank has taken a measured step by announcing a significant 2 percentage point interest rate hike. This decision comes as the shilling’s decline raises concerns about inflation, obstructs foreign investment, and impacts debt servicing. This move marks the first […]
Overview:Private payrolls in the United States witnessed a moderate increase of 103,000 workers in November, according to a report by ADP. The figure, falling slightly below the revised October count of 106,000, failed to meet the Dow Jones estimate of 128,000. Sector-Specific Insights:While the leisure and hospitality sector, a significant job creator since the pandemic’s […]
In a joint statement on Tuesday, military leaders of Mali and Niger announced the termination of tax cooperation treaties with France, citing persistent hostility and the imbalanced nature of existing agreements, which they argue have resulted in substantial revenue losses. The decision, effective within the next three months, signifies a pivotal moment in the evolving […]
The Kenyan High Court has imposed a temporary suspension on the government’s ambitious plan to privatize 11 strategic state-owned parastatals valued at Ksh200 billion ($1.31 billion). This decision comes in response to a legal challenge mounted by Raila Odinga’s Orange Democratic Movement (ODM) party, asserting that the proposed sale warrants broader public input. Represented by […]
India is on a trajectory to become the world’s third-largest economy by 2030, according to a report by S&P Global Ratings. The country, currently ranked fifth, is expected to maintain its status as the fastest-growing major economy for the next three years. S&P projects a growth rate of 6.4% for the ongoing fiscal year, with […]
In a recent revelation from the AFEX Wet Season Crop Production Report for 2023, Nigeria faces a critical challenge as the demand for rice significantly outpaces local production. The annual supply gap of approximately 2 million metric tonnes has triggered a noteworthy 37% surge in rice prices in 2023. Impact on Rice Dealers Rice dealers […]
As Kenya’s $2 billion Eurobond approaches maturity, the secondary market witnesses a surge in volatility. Traded on the Irish stock market, the 10-year sovereign bond, launched in June 2014, has experienced weekly yield fluctuations exceeding a percentage point since November. In contrast, other Eurobond issues maturing between 2027 and 2048 have shown more modest movements, […]
Moody’s Investors Services has painted a cautious outlook for global banks in 2024, citing a confluence of factors that could pose substantial challenges. The credit rating agency points to sluggish global growth, an elevated risk of borrower defaults, and increasing pressure on profitability as key concerns. The backdrop for these concerns includes prior central bank […]
Former Minister of Work and Housing, Mr Babatunde Fashola, delved into a pressing concern affecting Nigeria’s economic stability— the absence of a petroleum refinery, which contributes significantly to the nation’s foreign exchange demand, estimated at 30%. Fashola highlighted the far-reaching consequences of Nigeria’s reliance on imports due to the absence of a critical infrastructure like […]
In a significant strategic development for both Kenya and the broader African continent, the European Bank for Reconstruction and Development...
In a significant diplomatic and trade breakthrough, China on Friday officially signaled its approval for the export of critical rare...
In a comprehensive assessment of Nigeria's economic trajectory, the African Development Bank (AfDB) has released its 2025 Nigeria Country Focus...
East Africa's leading investment powerhouse, Centum Investment Company PLC, has sent ripples across the regional financial markets with a recent...
