In a historic announcement made at the 23rd Global Summit of the World Travel and Tourism Council (WTTC) in Kigali, Rwandan President Paul Kagame unveiled a bold initiative aimed at fostering regional integration and trade across Africa. Kagame declared that Rwanda would now allow all Africans to enter the country without the need for a […]
In a move of strategic importance, the Kenyan government is actively considering the purchase of up to a 20 percent stake in the Turkana oil project, with the outcome depending on a review of the project’s revised development plan and the availability of funds. The Energy and Petroleum Regulatory Authority (Epra) director-general, Daniel Kiptoo, revealed […]
South Africa is taking decisive steps to combat its persistent energy deficit, which has been hampering economic growth. Electricity Minister Kgosientsho Ramakgopa announced that the country is expediting plans to generate 3 gigawatts (GW) of power through gas-fired projects, signaling a shift towards cleaner and more reliable energy sources. The ongoing daily power cuts in […]
The United States has reaffirmed its dedication to fostering regional integration in Africa as a critical driver of the continent’s economic growth and prosperity. This commitment was reiterated during a conference focused on the African Growth and Opportunity Act (Agoa) held in Johannesburg. Agoa, a significant trade agreement, allows duty-free access to the U.S. market […]
ABUJA, Nigeria – Nigeria’s government has approved a supplementary budget of 2.176 trillion naira, equivalent to $2.8 billion, in a strategic move aimed at addressing pressing national priorities. The announcement was made by Budget Minister Atiku Bagudu during a press conference held in Abuja. The supplemental budget is a critical step to address pressing issues, […]
The ongoing Israel-Hamas conflict has drawn the attention of the World Bank, which has issued a warning about the potential implications for global oil prices and commodity markets, highlighting the existing six percent rise in oil prices as a precursor to further instability. The latest bout of hostilities began when Hamas militants from Gaza launched […]
In a move to strengthen intra-African trade and foster economic integration, President William Ruto of Kenya has announced plans to remove visa requirements for African citizens traveling to Kenya. This initiative, set to take effect by the end of this year, aligns with Kenya’s commitment to realizing the African Continental Free Trade Area (AfCFTA). Addressing […]
In a recently disclosed stress test, the Central Bank of Kenya (CBK) has unveiled concerns regarding the exposure of commercial banks to their largest borrowers. This test, conducted in May, paints a worrying picture of the banking sector, highlighting vulnerabilities that have gone under the radar until now. The findings reveal that approximately half of […]
In a surprising turn of events, the U.S. economy displayed remarkable resilience during the third quarter, as it grew at an annualized rate of 4.9%. This growth, reported by the Commerce Department, defied concerns related to rising interest rates, persistent inflation, and various economic challenges. Economists had projected a 4.7% increase in real GDP for […]
China Energy Engineering Corporation has made significant strides in Egypt’s sustainable energy sector, sealing two crucial Memorandums of Understanding (MoUs) to promote green hydrogen projects and the utilization of renewable energy sources. The first MoU, signed in partnership with North Abu Qir for Agricultural Nutrients, paves the way for the establishment of a green hydrogen […]
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...
