After weeks of negotiations and mounting pressure, Kenya’s medical landscape is poised for a significant shift as doactors and the government have finally reached a landmark agreement to end the prolonged strike that has gripped the nation since mid-March. In a televised ceremony witnessed across the country, representatives from the Kenya Medical Practitioners, Pharmacists, and […]
The latest Bureau of Labor Statistics report released Friday unveils a notable slowdown in US job growth, with just 175,000 positions added in April, marking the lowest surge since October of the previous year. This deceleration in job gains coincides with the Federal Reserve’s efforts to temper demand and curb soaring inflation. Market Reaction: Investors […]
Ugandan President Yoweri Museveni’s recent announcement regarding taxation policies has ignited a trade dispute with Kenya. Museveni defended Uganda’s decision to increase taxes on agricultural imports from Kenya, emphasizing its strategic importance in bolstering Uganda’s economy. Under Uganda’s revised tax policy, consumer goods face increased taxation while essentials for production and industrialization remain exempt. Museveni […]
Kenya is poised to make history as the first African nation to synchronize its data protection infrastructure with the European Union, marking a significant stride in safeguarding digital assets. At the ninth Network of African Data Protection Authorities (NADPA-RAPDP) Annual General Meeting (AGM), European Deputy Ambassador Ondrej Simek commended Kenya’s proactive approach towards data security, […]
The Federal Reserve finds itself at a crossroads as inflation remains stubbornly above the target threshold of 2%. With rates hovering around 2.7% for the first quarter, policymakers face a delicate balancing act between sustaining economic growth and containing inflationary pressures. Recent remarks by Federal Reserve Chair Jerome Powell indicate a cautious approach, suggesting that […]
Cairo: Egypt’s economic landscape witnessed a significant upswing in April 2024, with the nation’s international reserves reaching an impressive $41.057 billion. This surge, reported by the Central Bank of Egypt, represents a notable increase of $696 million compared to the previous month. A key factor driving this growth is the appreciation in gold reserves, which […]
At the AmCham Business Summit in Nairobi, US Ambassador to Kenya, Meg Whitman, outlined key strategies to bolster Kenya’s economic standing within Africa. Whitman emphasized the potential of Kenya’s manufacturing sector to drive economic expansion, particularly in apparel exports to the US. To achieve this, she underscored the importance of revitalizing cotton farming and sustained […]
The latest report from the United Nations’ Food and Agriculture Organization (FAO) reveals a continued upward trend in world food prices for the second consecutive month. In April, the FAO’s price index, tracking key food commodities, edged slightly higher to an average of 119.1 points, up from March’s revised 118.8 points. However, this still represents […]
Nigeria’s financial sector is set to undergo a significant change with the introduction of a cybersecurity levy on electronic transactions. This decision, communicated through a circular from the Central Bank of Nigeria (CBN) on May 6, 2024, comes as a response to the Cybercrime (Prohibition, Prevention, etc) (Amendment) Act 2024. Under this new levy, deposit […]
Kenya’s government, under President William Ruto’s leadership, is taking steps to scrap double taxation with Belarus. Spearheaded by the National Treasury, this initiative aims to streamline tax regulations, promoting a conducive environment for bilateral trade. The Double Taxation Agreement (DTA) focuses on income taxes and is currently open for public input, reflecting the government’s commitment […]
Kenya has enacted sweeping cybercrime legislation that imposes penalties of up to Sh20 million ($155,000) in fines or ten years...
Amazon Web Services (AWS) experienced a massive cloud infrastructure failure on Monday that cascaded across the globe, disrupting thousands of...
South Africa's luxury retail sector is poised for exceptional growth, with projections indicating a remarkable 15% expansion by 2025, positioning...
In a significant development for East Africa's telecommunications landscape, Atlas Tower has secured substantial backing from STOA, a French infrastructure...
