Nigeria and Germany solidified their economic ties with two key agreements at the 10th German-Nigerian Business Forum in Berlin. President Bola Tinubu witnessed the signing, highlighting Nigeria’s stable democracy and attractiveness for foreign investments. The agreements focus on gas export and renewable energy projects, involving Riverside LNG of Nigeria, Johannes Schuetze Energy Import AG of […]
Kenya is anticipating a surge in fuel and electricity costs as the Statute Law (Miscellaneous Amendments) Bill, 2023 proposes doubling the Energy and Petroleum Regulatory Authority’s (EPRA) levy from 0.5 percent to a maximum of 1 percent. The amendment, presented by Majority Leader Kimani Ichung’wah, aims to enhance EPRA’s operational capacity, with potential consequences for […]
Germany confronts a fiscal challenge as the constitutional court’s recent ruling triggers a freeze on new spending commitments. The decision, blocking the redirection of €60 billion for pandemic relief towards economic modernization and climate initiatives, has immediate implications. Werner Gatzer, state secretary at Germany’s finance ministry, has directed a reassessment of the budgetary landscape post-court […]
At the G20 Compact with Africa summit in Berlin on November 20, African leaders passionately underscored the critical need for heightened investment. Azali Assoumani, Chair of the African Union (AU), emphasized the internal investment requirements within African nations as “colossal.” While post-pandemic investment from G20 countries has shown a gradual increase, it falls significantly short […]
Kenya’s economy is set to receive a significant boost as the World Bank announces a $12 billion support package over the next three years. The funding aims to alleviate the strain on Kenya’s public finances, affected by the COVID-19 pandemic and climate-induced droughts. In a statement on Monday, the World Bank outlined the commitment, contingent […]
Prime Minister Pedro Sanchez has unveiled a strategic initiative to bolster Spain’s economy amidst economic challenges. The focal point of this move is an adjustment in the income ceiling for mortgage relief, responding to the surge in variable interest rates impacting homeowners. Acknowledging the economic downturn, the Spanish government is reassessing its support measures for […]
Heifer International and the Mastercard Foundation are jointly launching the Stimulating Agriculture for Youth Employment (SAYE) project, aiming to extend agribusiness opportunities to over 250,000 young individuals in the Busoga sub-region of Eastern Uganda from 2023 to 2029. Surita Sandosham, President and CEO of Heifer International, states the project’s core objective: “To transform the market […]
In a recent church service in Sotik, Bomet County, President William Ruto outlined a strategy to address Kenya’s unemployment issues. The core of this initiative is to secure 3,000 to 5,000 jobs weekly for Kenyan citizens seeking employment abroad. President Ruto expressed the government’s commitment to new bilateral agreements to export the nation’s workforce. “We […]
British finance minister Jeremy Hunt announced on Sunday his reluctance to implement tax cuts that might exacerbate inflation, just days before the Autumn Statement scheduled for Wednesday. The statement is anticipated to unveil targeted tax reductions aimed at revitalizing the UK’s economy and bolstering the ruling Conservative party’s electoral prospects. In an interview with Sky […]
Germany is reinforcing its commitment to sustainable development in Southern Africa by providing substantial financial support for renewable energy projects in South Africa and Namibia. The German state-owned development bank KfW will lend R9 billion (approximately $540 million) to facilitate South Africa’s transition to renewable energy. This contribution is part of the broader Just Energy […]
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...
