In a recent address, IMF Chief Kristalina Georgieva painted a sobering picture of the ongoing repercussions of the COVID-19 pandemic. Despite glimpses of improvement, the global economy remains ensnared in the aftermath, grappling with a substantial $3.3 trillion output loss since 2020. Georgieva’s remarks, delivered at an event hosted by the Atlantic Council, highlighted marginal […]
South Africa – Luno, South Africa’s longest-standing crypto asset service provider, has achieved a significant milestone by obtaining a license from the Financial Services Conduct Authority (FSCA) to function as a financial services provider. This accolade positions Luno as the inaugural dedicated crypto asset service provider in South Africa to receive such recognition, following the […]
Kenya’s economic landscape is brightening as the Kenya shilling achieves a year-high against the U.S. dollar, reaching an impressive rate of 130. This surge, alongside other positive economic indicators, has ignited optimism among the nation’s business leaders, projecting a promising economic performance for 2024. The optimism stems from a convergence of factors: the notable easing […]
Newly released data has revealed a slight uptick in US inflation, stirring discussions not only in economic circles but also within the political landscape as the country gears up for the presidential election. The core consumer price index (CPI) showed a modest 0.4 percent increase in March, slightly surpassing expectations. Year-over-year figures remained steady at […]
Ethiopia, East Africa’s most populous nation, faces a critical decision in its quest for economic stability. Struggling with inflation and recent debt default, the country’s path to recovery hinges on securing a much-needed loan from the International Monetary Fund (IMF). The IMF’s recent departure from Ethiopia without a concrete agreement has heightened concerns over the […]
The World Bank has released its latest Africa’s Pulse report, projecting a steady 5% growth for Kenya’s economy in 2024. This growth is attributed primarily to heightened investment activity following restored access to international capital markets. Key factors driving this growth include: However, while the World Bank’s forecast aligns with ongoing economic recovery trends, it […]
Italy’s economic landscape is witnessing a recalibration as the cabinet approves a revised Economic and Financial Document (DEF), signaling adjustments to growth forecasts for 2024 and beyond. The DEF, a cornerstone document outlining Italy’s economic objectives over the next three years, has been officially endorsed, reflecting the government’s response to evolving economic conditions. The revised […]
Addressing the pressing issue of unemployment in Gauteng, the Department of Employment and Labour, under the leadership of Minister Thulas Nxesi, announced the launch of labor activation programmes aimed at generating job opportunities across various sectors in the region. Partnering with private businesses, Skills Education and Training Authorities (SETAs), and Non-Governmental Organizations (NGOs), the government […]
The Central Bank of Kenya (CBK) forecasts a resurgence in imports for the current year, driven by a stabilized exchange rate and improved dollar availability compared to the previous year. This projection comes as the apex bank anticipates an 11 percent growth in imports, following a decline observed last year due to challenges in accessing […]
Global food prices saw a notable uptick, marking the first increase since July, according to the latest report from the United Nations’ Food and Agricultural Organization (FAO). The FAO’s overall Food Price Index climbed by 1.1 percent during the month, reaching 118.3 points. However, on an annual basis, the index remained 7.7 percent lower. Notably, […]
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...
