President Emmerson Mnangagwa has revealed Zimbabwe’s intention to join the BRICS economic bloc, marking a strategic move that could significantly impact the country’s economic trajectory. The announcement was made during Mnangagwa’s visit to Russia, where he attended a high-level economic forum. BRICS: A Key Economic Bloc BRICS, which initially comprised Brazil, Russia, India, China, and […]
BThe latest Global Economic Growth Prospects report highlights Rwanda as the leading economy in East Africa for the remainder of 2024, with a projected GDP growth rate of 7.6 percent. This follows Rwanda’s record high GDP growth of 10.9 percent in 2021, underscoring its robust economic performance in the region. Uganda is expected to follow […]
The Central Bank of the UAE (CBUAE) and Qatar Central Bank (QCB) have decided to keep their interest rates unchanged, following the US Federal Reserve’s recent move to maintain its benchmark lending rate. This decision marks the seventh consecutive time the Fed has held rates steady, keeping the target range for the federal funds rate […]
Africa’s remittance market is on track to expand significantly in the coming years, driven by a projected growth to $500 billion by 2025, according to analysts at a leading investment bank. In 2022, remittances to the continent neared $100 billion, with intra-African flows contributing $20 billion to this total. Despite their economic importance, the cost […]
The Central Bank of Kenya (CBK) has announced its intention to issue payment licenses to fintech startups operating in the country. This represents a significant departure from previous regulatory stances and aims to provide clarity and legitimacy to the operations of these innovative firms. Among the leading candidates for these licenses are prominent players like […]
In its 2024 Mid-Year Investments Outlook, JP Morgan Private Bank reports that the global economy remains robust despite ongoing inflationary pressures. Grace Peters, the bank’s Global Head of Investment Strategy, highlighted the theme “A Strong Economy in a Fragile World,” pointing to a complex interplay of economic strength and significant risks. Economic Resilience Amid Inflation […]
Ethiopia anticipates a budget deficit of 2.1% of its gross domestic product (GDP) for the upcoming fiscal year, according to Finance Minister Ahmed Shide. This projection comes as the nation strives to recover from multiple economic challenges. The Ethiopian economy has been significantly impacted by the COVID-19 pandemic, a two-year conflict in the Tigray region, […]
Kenya and the International Monetary Fund (IMF) have finalized a crucial agreement on a comprehensive set of policies and reforms. This agreement, reached following extensive discussions led by Ms. Haimanot Teferra and her IMF team, aims to complete the seventh reviews of Kenya’s Extended Fund Facility (EFF) and Extended Credit Facility (ECF) arrangements, along with […]
The euro hit a one-month low on Monday, declining 0.44% to $1.0753, as political uncertainty surged following French President Emmanuel Macron’s call for a snap legislative election. This move comes in the wake of significant gains by far-right eurosceptic nationalists in the European Parliament elections, prompting Macron to seek a stronger mandate. This political upheaval […]
The surge in transportation costs in Nigeria is significantly driving up commodity prices, affecting the daily lives of citizens. The country’s reliance on land transport for haulage, coupled with the recent removal of fuel subsidies, has led to a sharp increase in the cost of moving goods. Paul Kyan, a transporter, noted a dramatic rise […]
Kenya's inflation rate edged lower to 4.5% year-on-year in November 2025, down from 4.6% in October, marking the 29th consecutive...
The euro zone's annual inflation rate edged higher to 2.2% in November 2025, according to flash estimates published by Eurostat...
South Africa's economy maintained its upward trajectory in the third quarter of 2025, expanding by 0.5% quarter-on-quarter, according to data...
The International Finance Corporation and the Kenya Investment Authority have entered into a strategic collaboration that establishes a comprehensive framework...
